Gelonghui, May 24, and Dongxing Securities's research report on the 23rd pointed out that the Golden Orange (688291.SH) galvanometer control system ranked first in the domestic application segment, and laser precision processing equipment highlighted R&D strength. The company's fund-raising projects are expected to replicate Scanlab's development path by increasing marketing, improving the product system, and expanding production scale. The funds raised were invested in three major projects: marketing and technical support network construction, R&D and industrialization of high-precision digital galvanometer systems and laser flexible precision intelligent manufacturing control platforms. The company's high-end galvanometer system has broad application space. According to the company's prospectus, the field of medium- and low-end galvanometer control systems has basically been localized; the high-end sector is still dominated by international manufacturers, with a localization rate of only 15%. The penetration rate of new downstream processes is expected to continue to increase, and the company's card position advantage is obvious, which is expected to fully benefit. The first coverage gave a “Highly Recommended” rating.