证券代码：688322 证券简称：奥比中光 公告编号：2025-081 奥比中光科技集团股份有限公司 第二届董事会第二十次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 一、董事会会议召开情况 奥比中光科技集团股份有限公司（以下简称"公司"）第二届董事会第二十次会 议通知于 2025 年 10 月 21 日以电话、电子邮件等方式向全体董事、高级管理人员发 出，会议于 2025 年 10 月 24 日在公司会议室以现场结合通讯表决方式召开。本次会 议由公司董事长黄源浩先生主持，会议应出席董事 10 名，实际出席董事 10 名（其中 4 名董事以通讯表决方式出席会议），公司全体高级管理人员列席本次会议。本次会 议的召集、召开及表决程序符合《中华人民共和国公司法》等法律、行政法规、规范 性文件和《奥比中光科技集团股份有限公司章程》的规定，合法有效。 二、董事会会议审议情况 （一）会议以 10 票同意，0 票反对，0 票弃权，审议通过了《2025 年第三季度报 告》； 本议案在提交董事会前已经董事会审计委员会审议通过 ...

奥比中光科技集团股份有限公司 本次可归属的 12 名激励对象符合《公司法》《证券法》《公司章程》等规定 的任职资格，符合《管理办法》《上市规则》规定的激励对象条件，符合本激励 计划规定的激励对象范围，主体资格合法、有效，不存在损害公司及股东利益的 情形。本激励计划预留授予第二个归属期归属条件已成就。 综上，董事会薪酬与考核委员会同意本激励计划预留授予第二个归属期的归 属名单。 奥比中光科技集团股份有限公司 董事会薪酬与考核委员会 2025 年 10 月 24 日 董事会薪酬与考核委员会 关于 2022 年限制性股票激励计划预留授予第二个归属期 归属名单的核查意见 奥比中光科技集团股份有限公司（以下简称"公司"）董事会薪酬与考核委 员会依据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国 证券法》（以下简称"《证券法》"）、《上海证券交易所科创板股票上市规则》（以 下简称"《上市规则》"）、《上市公司股权激励管理办法》（以下简称"《管理办 法》"）、《科创板上市公司自律监管指南第 4 号——股权激励信息披露》及《奥比 中光科技集团股份有限公司章程》（以下简称"《公司章程》"）的有关规定，对 ...

Core Viewpoint - The company reported significant growth in revenue and net profit for the third quarter and the first three quarters of the year, driven by advancements in various business sectors such as 3D scanning, payment verification, and robotics [1] Financial Performance - Q3 revenue reached 279 million yuan, representing a year-on-year increase of 102.49% [1] - Q3 net profit was 47.83 million yuan [1] - Revenue for the first three quarters totaled 714 million yuan, with a year-on-year growth of 103.50% [1] - Net profit for the first three quarters amounted to 108 million yuan [1] Business Growth Drivers - The company experienced rapid growth across multiple business areas, including 3D scanning, payment verification, and various types of robotics [1]

奥比中光公告，第三季度营收为2.79亿元，同比增长102.49%；净利润为4782.89万元。前三季度营收为 7.14亿元，同比增长103.50%；净利润为1.08亿元。 ...

Financial Performance - The company's revenue for the third quarter reached ¥278,526,945.55, representing a year-on-year increase of 102.49%[3] - The total profit for the period was ¥47,625,387.80, with a net profit attributable to shareholders of ¥47,828,859.33[3] - Year-to-date revenue amounted to ¥713,996,234.39, reflecting a growth of 103.50% compared to the same period last year[3] - Total operating revenue for the first three quarters of 2025 reached ¥713,996,234.39, a significant increase of 103.6% compared to ¥350,864,553.18 in the same period of 2024[20] - The company reported a net profit of ¥107,703,494.60 for the first three quarters of 2025, compared to a net loss of ¥59,378,681.13 in the same period of 2024[21] - Operating profit for the first three quarters of 2025 was ¥99,857,128.20, a turnaround from an operating loss of ¥58,221,860.72 in 2024[20] - Basic earnings per share for the first three quarters of 2025 were ¥0.27, compared to a loss of ¥0.15 per share in the same period of 2024[21] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥3,410,441,286.13, an increase of 2.45% from the end of the previous year[4] - The equity attributable to shareholders was ¥2,976,795,579.13, up 3.82% from the previous year-end[4] - The company's total assets increased to ¥3,410,441,286.13 in 2025 from ¥3,328,990,861.53 in 2024, marking a growth of 2.4%[17] - Total liabilities decreased to ¥422,225,269.06 in 2025 from ¥454,710,799.30 in 2024, a reduction of 7.1%[17] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥117,685,465.25, attributed to increased sales collections[10] - In the first three quarters of 2025, the cash inflow from operating activities reached ¥812,027,350.56, a significant increase of 73% compared to ¥468,763,303.11 in the same period of 2024[24] - The net cash flow from operating activities turned positive at ¥117,685,465.25, compared to a negative cash flow of ¥60,580,587.06 in the first three quarters of 2024[24] - Cash inflow from investment activities totaled ¥1,462,750,539.33, while cash outflow was ¥1,520,637,310.68, resulting in a net cash flow of -¥57,886,771.35, an improvement from -¥511,515,468.24 in the previous year[25] - The company reported a cash outflow from financing activities of -¥65,207,642.13, which is an improvement compared to -¥104,943,613.21 in the same period of 2024[25] Research and Development - Research and development expenses totaled ¥55,366,711.41, accounting for 19.88% of revenue, a decrease of 14.48 percentage points from the previous year[3] - Research and development expenses for the first three quarters of 2025 totaled ¥146,547,459.80, slightly down from ¥153,313,676.93 in 2024[20] Revenue Drivers - The growth in revenue was primarily driven by rapid expansion in the fields of 3D scanning, payment verification, and various types of robotics[8] Current Assets - As of September 30, 2025, the total current assets amounted to RMB 1,486,007,341.72, an increase from RMB 1,429,460,907.69 as of December 31, 2024, reflecting a growth of approximately 3.93%[15] - The cash and cash equivalents stood at RMB 613,084,761.75, slightly up from RMB 606,487,655.26 in the previous period[15] - The trading financial assets increased to RMB 399,080,646.59 from RMB 345,000,000.00, representing a growth of approximately 15.7%[15] - Accounts receivable rose to RMB 123,984,667.06, compared to RMB 109,071,611.78, indicating an increase of about 13.6%[15] - Inventory decreased to RMB 204,476,133.15 from RMB 219,943,006.51, showing a decline of approximately 7.1%[15] - The total non-current assets were reported at RMB 1,139,911,850.03, down from RMB 1,175,711,072.45, reflecting a decrease of about 3.05%[15] Other Information - The company has not disclosed any significant new product developments or technological advancements during this reporting period[14] - There are no notable mergers or acquisitions reported in the recent financial disclosures[14] - The company has not provided specific future guidance or market expansion strategies in the current report[14] - The company has not yet adopted the new accounting standards, as indicated in the announcement[26]

Investment Rating - The report maintains a "Buy" rating for the sensor industry, particularly focusing on the opportunities in domestic replacements for sensors in humanoid robots [2]. Core Insights - The sensor industry is crucial for the development of AI and robotics, serving as the bridge between the physical and virtual worlds. The global sensor market is projected to reach approximately $226.9 billion in 2023, with a growth rate of about 8% annually. In China, the sensor market is expected to grow at a rate of 15%, reaching approximately 554.7 billion yuan by 2026 [3][17]. - The report emphasizes the importance of environmental perception sensors in robotics, highlighting their higher profit margins compared to other hardware components. The gross profit margin for sensor manufacturers typically ranges from 30% to 50%, significantly higher than the 20% to 30% margins for standard components [3][4]. - The report identifies a significant opportunity for domestic manufacturers to capture market share from foreign competitors, particularly in the emerging robotics sector, where there is potential for rapid advancement and "leapfrog" opportunities [4][5]. Summary by Sections Section 1: Sensor Market Overview - Sensors are essential for humanoid robots, acting as their sensory organs and enabling interaction with the physical world. The sensor market is expected to grow significantly, driven by increasing demand in various sectors, including automotive, industrial automation, and healthcare [9][17]. - The Chinese sensor market is projected to grow from 364.5 billion yuan in 2023 to 554.7 billion yuan by 2026, with a compound annual growth rate (CAGR) of 15% [17][22]. Section 2: Focus on Key Companies and Profit Forecasts - The report lists several companies in the sensor industry, including: - **Kaiter Co. (920978.BJ)**: Rated "Buy" with a projected EPS of 1.09 in 2025 and a PE ratio of 35.23 [6]. - Other companies mentioned, such as Amperelong and Obsidian, are not rated but have provided EPS forecasts for 2024-2026 [6][7]. Section 3: 3D Vision and Sensor Technology - The report highlights the growing importance of 3D vision technology in robotics, with the global 3D vision market expected to grow from $5 billion in 2019 to $15 billion by 2025, reflecting a CAGR of approximately 20% [36]. - Various companies are developing advanced 3D vision solutions, with a focus on depth accuracy, measurement range, and frame rate, which are critical for humanoid robots [44][46]. Section 4: Pressure Sensors and Domestic Replacement Opportunities - The report notes that the pressure sensor market is predominantly controlled by foreign brands, presenting a substantial opportunity for domestic manufacturers to capture market share. The global MEMS pressure sensor market is currently led by Bosch, with a market share of 33% [62][63]. - The report emphasizes the potential for domestic companies to fill the gap in the market, particularly in automotive applications where pressure sensors are essential [62][66].

Core Viewpoint - The stock of Orbbec Technology Co., Ltd. has shown significant fluctuations, with a year-to-date increase of 83.44% and a recent drop of 11.51% over the past 20 days, indicating volatility in investor sentiment and market performance [1]. Company Overview - Orbbec Technology Co., Ltd. is located in Shenzhen, Guangdong Province, and was established on January 18, 2013. The company went public on July 7, 2022, and specializes in the design, research and development, production, and sales of 3D visual perception products [1]. - The company's main business revenue composition includes: 61.83% from consumer-grade application devices, 31.35% from 3D visual sensors, 4.21% from other sources, and 2.60% from industrial-grade application devices [1]. Financial Performance - For the first half of 2025, Orbbec Technology achieved operating revenue of 435 million yuan, representing a year-on-year growth of 104.14%. The net profit attributable to shareholders reached 60.19 million yuan, marking a significant increase of 212.77% compared to the previous year [2]. - As of June 30, 2025, the number of shareholders increased to 20,000, up by 1.15%, while the average circulating shares per person decreased by 0.71% to 12,885 shares [2]. Market Activity - On October 22, the stock price of Orbbec Technology rose by 2.09%, reaching 85.30 yuan per share, with a trading volume of 441 million yuan and a turnover rate of 1.80%. The total market capitalization stood at 34.214 billion yuan [1]. - The net inflow of main funds was 2.088 million yuan, with large orders accounting for 27.04% of purchases and 27.62% of sales [1].

Core Insights - The report by Interact Analysis indicates that Orbbec ranks first in the South Korean commercial and industrial mobile robot 3D vision market, with a market share of approximately 72% [1] Group 1: Market Position - In the South Korean commercial mobile robot market, Chinese manufacturers account for 65% of the shipment volume, with Orbbec being the primary 3D camera supplier for most Chinese commercial robot products in the market [1] - Orbbec has become the exclusive 3D camera supplier for the top three commercial robot manufacturers in the remaining market, which consists of non-Chinese manufacturers [1] Group 2: Technological Capability - Orbbec is one of the few companies globally that has comprehensively laid out six major 3D vision perception technology routes [1] - The company has served over 3,000 global clients, with its ecosystem including leading domestic and international enterprises such as Microsoft, NVIDIA, Alipay, and Horizon [1]

Summary of Orbbec Inc. Conference Call Company Overview - **Company**: Orbbec Inc - **Ticker**: 688322.SS / 688322 CH - **Sector**: Technology Key Financial Results - **Revenue Growth**: For the first three quarters of 2025, Orbbec reported sales of CNY 714 million, reflecting a **103% year-on-year growth** driven by increased adoption in downstream applications such as 3D scanning, payment verification, and robotics [1] - **Net Profit**: Projected net profit attributable to shareholders is approximately CNY 107.5 million, a significant turnaround from a loss of CNY 60.3 million in the same period of 2024, attributed to improved sales growth, cost management, and operational efficiencies [1] - **3Q25 Earnings Forecast**: The company anticipates earnings of CNY 47.3 million for the third quarter of 2025, representing a **32% quarter-on-quarter increase** [1] Strategic Developments - **Integration with Intel**: Orbbec's entry into the Intel Industrial Builders Community is expected to enhance its 3D vision applications in industrial settings. This affiliation allows access to Intel's architecture, technical training, and optimized partner solutions, which could lead to collaborative R&D initiatives and stronger ecosystem partnerships [2] - **3D Printing and Scanning Growth**: The company is positioned to benefit from the rapid expansion of the 3D printing sector, with the launch of products like the Pulsar ME450 multi-pattern 3D LiDAR, enhancing precision in applications such as 3D modeling and quality control. Revenue growth is expected to be robust due to increasing demand for high-accuracy sensors in industrial prototyping [3] Market Outlook - **Target Price**: The target price remains at CNY 105, based on a price-to-sales ratio of 28x for 2026, supported by a projected sales CAGR of 64% from 2024 to 2026, driven by growth in biometrics, 3D printing, and robotics [4][12] - **Risks**: Potential risks include slower growth in the robotics business, intensified competition affecting pricing and market share, and softening demand in the biometrics market [13] Additional Information - **Current Stock Price**: As of October 16, 2025, the closing price was CNY 81.09, with a "Buy" rating from analysts [4][9] - **Analyst Contact**: Research analysts Frank Fan and Donnie Teng are available for further inquiries [5]

Core Insights - The stock price of Aobo Zhiguang increased by 2.01% on October 21, reaching 83.86 CNY per share, with a trading volume of 385 million CNY and a turnover rate of 1.59%, resulting in a total market capitalization of 33.636 billion CNY [1] - Year-to-date, Aobo Zhiguang's stock price has risen by 80.34%, with a 3.92% increase over the last five trading days, a 5.23% decrease over the last 20 days, and a 15.83% increase over the last 60 days [1] - The company has reported a significant increase in revenue and net profit for the first half of 2025, with revenue of 435 million CNY, a year-on-year growth of 104.14%, and a net profit of 60.19 million CNY, a year-on-year increase of 212.77% [2] Company Overview - Aobo Zhiguang Technology Group Co., Ltd. is located in Nanshan District, Shenzhen, Guangdong Province, and was established on January 18, 2013, with its listing date on July 7, 2022 [2] - The company's main business involves the design, research and development, production, and sales of 3D visual perception products, with revenue composition as follows: 61.83% from consumer-grade application devices, 31.35% from 3D visual sensors, 4.21% from other sources, and 2.60% from industrial-grade application devices [2] - Aobo Zhiguang is classified under the electronic-optical optoelectronics-optical components industry and is associated with concepts such as aerial imaging, spatial computing, metaverse, humanoid robots, and intelligent cockpits [2] Shareholder Information - As of June 30, 2025, Aobo Zhiguang had 20,000 shareholders, an increase of 1.15% from the previous period, with an average of 12,885 circulating shares per person, a decrease of 0.71% [2] - Among the top ten circulating shareholders, Xingshan He Run Mixed A (163406) holds 4.974 million shares, a decrease of 1.278 million shares from the previous period, while Huaxia Zhongzheng Robot ETF (562500) holds 4.478 million shares, an increase of 800,400 shares [3]