奥比中光科技集团股份有限公司 董事、高级管理人员离职管理制度 第一章 总 则 第一条 为规范奥比中光科技集团股份有限公司（以下简称"公司"）董事、 高级管理人员离职管理，保障公司治理稳定性及股东合法权益，根据《中华人民 共和国公司法》《上市公司章程指引》和《奥比中光科技集团股份有限公司章程》 （以下简称"《公司章程》"）的规定，制定本制度。 第二条 本制度适用于公司全体董事（含独立董事）及高级管理人员的辞任、 任期届满、解任以及其他导致董事、高级管理人员实际离职等情形。 第二章 离职情形与生效条件 第三条 董事可以在任期届满以前辞任。董事辞任应向董事会提交书面辞职 报告，公司收到辞职报告之日辞任生效，公司将在两个交易日内披露有关情况。 第四条 如存在以下情形的，在改选出的董事就任前，原董事仍应当依照法 律、行政法规、部门规章和《公司章程》规定，履行董事职务，但存在相关法规 另有规定的除外： （一）董事辞职导致董事会成员低于法定最低人数； （二）审计委员会成员辞职导致审计委员会成员低于法定最低人数，或者欠缺 会计专业人士； （三）独立董事辞职导致董事会或者其专门委员会中独立董事所占比例不符合 法律、行政法规或者 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [2][5]. Core Views - The company has shown a revenue growth of over 50% in 2024, with a significant reduction in losses by more than 70% due to effective cost control [4][8]. - The company is launching three new AI vision products tailored for different robotic applications, indicating a positive operational outlook [4][5]. - The revenue forecast for 2025, 2026, and 2027 is projected at RMB 906 million, RMB 1.247 billion, and RMB 1.523 billion respectively, with corresponding price-to-sales ratios of 26.2, 19.0, and 15.6 times [5][7]. Summary by Sections Stock Performance - The company's stock has shown an absolute increase of 31.0% year-to-date and 140.3% over the past 12 months, outperforming the Shanghai Composite Index by 29.9% and 131.9% respectively [3]. Financial Performance - The company reported a main revenue of RMB 564 million in 2024, a year-on-year increase of 56.8%, with a net loss of RMB 63 million, a reduction of 77.2% compared to the previous year [8]. - The gross margin for 2024 was 41.8%, a slight decrease of 0.9 percentage points year-on-year, while the net margin improved significantly by 65.4 percentage points to -11.1% [8]. Product Development - The company has introduced several new products, including the Orbbec Gemini 335 and 336 series, designed for 3D vision in robotics, and the Orbbec MS 600 laser radar, which enhances environmental perception for robots [8]. Market Outlook - The report highlights the company's strong position in the 3D vision perception market, anticipating growth opportunities in the robotics industry [5][8].

Core Insights - The first humanoid robot half marathon held in Beijing has significantly increased interest in the humanoid robot industry, with the "Tiangong Ultra" robot winning the race in 2 hours, 40 minutes, and 42 seconds, reshaping perceptions of humanoid robot capabilities [1] - The event highlighted the supply chain behind the winning robot, revealing various listed companies' involvement, although no direct collaborations with Tiangong were confirmed [2][3] Group 1: Company Developments - The Tiangong robot was developed by the Beijing Humanoid Robot Innovation Center, established in November 2023, with key stakeholders including UBTECH, Xiaomi Robotics, and Beijing Electromechanical, each holding a 28.57% stake [1] - Following the competition, UBTECH announced the establishment of a wholly-owned subsidiary in Beijing to commercialize and globally sell the Walker and Tiangong series humanoid robots [1] Group 2: Supply Chain and Partnerships - Several listed companies, including Shuanglin Co., Liancheng Precision, Honggong Technology, and others, responded to inquiries about Tiangong but did not confirm any partnerships [2][3] - The main suppliers for Tiangong include Aobo Zhongguang, which provides 3D vision sensors, and Lide Harmonic, which supplies harmonic reducers [3][4] Group 3: Technical Challenges - The humanoid robot industry faces significant technical challenges, as evidenced by the low completion rate of less than 30% in the marathon, with issues such as falls and joint overheating being prevalent [6][7] - Key areas needing improvement include high-density battery packs, low-power motor drivers, and robust algorithms for dynamic obstacle recognition and path planning [7]

Core Insights - The humanoid robot industry is on the brink of commercialization, with companies like SUTENG and ORBBE focusing on advanced vision solutions [1] - SUTENG emphasizes laser radar for 3D environmental perception, while ORBBE specializes in 3D vision sensors for close-range object recognition [1] - Both companies adopt a "co-opetition" strategy, combining competition and collaboration in the multi-sensor fusion approach [1] Company Strategies - ORBBE launched the Gemini 335/336 series depth cameras and MS600 laser radar, covering various technical routes to meet humanoid robot environment modeling needs [2] - In 2024, ORBBE reported revenue of 564 million yuan, a 56.8% increase year-on-year, while net profit loss decreased by 77.20% [2] - SUTENG aims to be a "robot technology platform company," launching new products like the Active Camera platform and the second-generation dexterous hand [2][3] - SUTENG achieved revenue of 1.649 billion yuan in 2024, a 47.20% increase, with a net loss of 482 million yuan, reducing losses by 88.89% [3] Competitive Landscape - The competition between ORBBE and SUTENG is characterized by short-term implementation capabilities versus long-term technological barriers [4] - ORBBE's 3D vision sensors have established a scalable delivery capability, partnering with leading robot clients like Cloudwise Technology and Qianlong Intelligent [4][5] - SUTENG invested 615 million yuan in R&D in 2024, accounting for 37.3% of total revenue, while ORBBE invested 204 million yuan, making up 36.2% [4] - SUTENG's strategy includes a low-price approach to market expansion, aiming for a "low-cost hardware + value-added services" business model [5] Industry Trends - The humanoid robot sector is entering a new phase of "soft and hard collaboration," with ORBBE's rapid implementation capabilities meeting initial industry demands [5] - The next two years will be crucial for determining which company can achieve breakthroughs in cost control and scene adaptability, potentially leading the value chain distribution in the next robot era [5]

Group 1 - The core viewpoint highlights the ongoing decline of the Shanghai Stock Exchange Sci-Tech Innovation Board Artificial Intelligence Index, which fell by 1.23% as of April 22, 2025, with mixed performance among constituent stocks [3] - The AI application landscape is accelerating, with significant releases from OpenAI, including the GPT-4.1 series and enhancements in AI capabilities, indicating a robust growth trajectory in AI technologies [3] - The Sci-Tech AI ETF closely tracks the performance of the Shanghai Stock Exchange Sci-Tech Innovation Board Artificial Intelligence Index, which comprises 30 large-cap companies providing foundational resources and technologies for AI [4] Group 2 - The report from Guotai Junan Securities emphasizes the broad application of AI across various sectors, including securities research, banking, and insurance, suggesting a promising future for companies developing specialized AI models and products [4] - The Sci-Tech AI ETF has seen a significant growth in scale, increasing by 21.80 billion in the last three months, ranking it among the top in its category [4] - The ETF has also experienced a notable increase in shares, with a growth of 3,600,000 shares in the past month, placing it in the middle tier of comparable funds [4] Group 3 - Leveraged funds are increasingly investing in the Sci-Tech AI ETF, which recorded a net purchase of 1.1618 million in financing this month, indicating strong investor interest [5] - The ETF has demonstrated strong performance metrics, with a maximum monthly return of 15.59% since inception and a historical three-month holding profitability rate of 93.33% [5] - The management fee of the Sci-Tech AI ETF is competitive at 0.50%, with a custody fee of 0.10%, making it one of the lowest in its category [5] Group 4 - The top ten weighted stocks in the Sci-Tech Innovation Board Artificial Intelligence Index include companies like Lanke Technology and Chip Original, with the top ten collectively accounting for a significant portion of the index [7]

Group 1 - The core viewpoint of the news is that OrbiMed (688322.SH) has reported its annual results for 2024, highlighting significant institutional investor interest and changes in shareholding patterns [1] Group 2 - As of April 21, 2025, a total of 206 institutional investors disclosed holdings in OrbiMed A-shares, with a total shareholding of 127 million shares, accounting for 31.65% of the total share capital [1] - The top ten institutional investors include Shanghai Yunxin Venture Capital Co., Ltd., Zhuhai OrbiMed Investment Partnership (Limited Partnership), and others, with their combined shareholding ratio reaching 26.51% [1] - Compared to the previous quarter, the combined shareholding ratio of the top ten institutions decreased by 3.09 percentage points [1] Group 3 - In the public fund sector, four public funds reported a decrease in holdings compared to the previous quarter, including Bank of China Securities Advantage Manufacturing Stock A and others, with a slight decline in the proportion of reduced holdings [2] - A total of 193 new public funds were disclosed this period, including several funds such as Xingquan Helun Mixed A and others [2] - One public fund, Tianhong Guozheng 2000 Index Enhanced A, was not disclosed in this period compared to the previous quarter [2]

【市场复盘】 周一（2025年4月21日）AI与机器人板块双双上涨，截至收盘，科创人工智能ETF华夏(589010)上涨 1.51%，持仓股奥比中光上涨11.17%领涨，当虹科技、有方科技，云天励飞涨幅靠前。机器人ETF （562500）上涨2.63%，持仓股中奥比中光、鸣志电器、伟创电气领涨，涨幅均超8%。当日交易金额 9.78亿元，较上一交易日放大超一倍，换手率8.28%，市场交易活跃。 【热点要闻】 1.4月21日，特斯拉招聘主页显示，与机器人擎天柱（Optimus）相关的岗位数达到约80个，比以往任何 时候都多。擎天柱AI负责人Ashish Kumar、擎天柱AI高级经理Julian Ibarz等也在X平台发布动态，招贤 纳士。 2.4月21日，上海市经济和信息化委员会发布关于开展2025年新一代通用人工智能创新任务揭榜挂帅工 作的通知，共包含5个方向。其中，具身智能揭榜任务为：围绕真实场景下的自主作业、异构人形机器 人、高质量具身智能数据集、具身智能模型库，打造具身智能训练算力基础设施。面向具身大小脑、灵 巧手、关节、躯体、电池等核心零部件以及算力等关键组成部分的技术攻关；打造开源研发训练平台、 快 ...

Core Viewpoint - The company, Orbi Tech, is in a growth phase with significant revenue increase but continues to face losses due to high investment in technology and market expansion [5][6][40]. Company Overview - Orbi Tech specializes in the design, research, production, and sales of 3D visual perception products, including 3D visual sensors and application devices [8]. - The company has established a strong customer base and is recognized as a key supplier in the global 3D visual sensor market [8][34]. Financial Performance - In 2024, the company achieved total revenue of 564.46 million yuan, a year-on-year increase of 56.79%, but reported a net loss of 62.91 million yuan, a decrease in loss of 77.20% compared to the previous year [40]. - The company has not distributed dividends or increased capital due to its focus on sustainable growth and funding needs [6]. Industry Context - The 3D visual perception industry is transitioning from industrial applications to consumer-level products, with significant growth expected in various sectors such as AIoT, robotics, and automotive [9][19]. - The market for 3D visual perception is projected to reach $17.2 billion by 2028, indicating a robust growth trajectory [18]. Technological Development - The company is one of the few in the market capable of providing a complete set of proprietary 3D visual perception products and has a comprehensive technology roadmap [34]. - The industry is characterized by high technical barriers, requiring expertise in various fields such as optics, algorithms, and hardware integration [32][33]. Application Areas - Key application areas for 3D visual perception technology include biometric recognition, three-dimensional scanning, and industrial measurement, with increasing demand in smart home devices and autonomous vehicles [20][24][31]. - The technology enhances user experience in various sectors by providing accurate depth and spatial information, which is crucial for applications like facial recognition and digital twins [21][25].

Group 1 - The company has proposed a profit distribution plan for 2024, which includes no cash dividends, no bonus shares, and no capital reserve transfers, except for the already implemented share buyback [20][21][25] - The company reported a net loss of RMB 62.91 million for 2024, with the parent company's net profit at RMB -117.81 million, resulting in a negative distributable profit of RMB -1.14 billion at year-end [20][22] - The decision to not distribute profits is based on the company's current operating conditions and future funding needs, aiming to ensure stable operations and enhance risk resistance [22][25] Group 2 - The company plans to apply for a total comprehensive credit limit of up to RMB 1.5 billion for 2025, which includes various financing options such as working capital loans and project loans [28][29] - The company intends to provide a guarantee limit of up to RMB 500 million for its wholly-owned subsidiaries, ensuring their operational and business development needs are met [28][31] - The board and supervisory committee have approved these proposals, emphasizing that they align with the company's overall development strategy and do not pose risks to the company or its shareholders [36][37]

Core Viewpoint - The company reported significant revenue growth in 2024, driven by advancements in the AIoT sector, although it still faced net losses, which have narrowed considerably compared to the previous year [1][5]. Group 1: Financial Performance - The company achieved total revenue of 564 million yuan in 2024, representing a year-on-year increase of 56.8% [1]. - The net profit attributable to shareholders was -62.91 million yuan, a substantial improvement from -276 million yuan in 2023, reflecting a 77.2% reduction in losses [1][5]. Group 2: AIoT Sector Growth - The AIoT sector emerged as a key growth engine, with the company actively expanding its market presence and applying 3D visual perception technology across various industries [4]. - Collaborations with leading firms in service and industrial robotics have been established, enhancing the company's technological advantages and product offerings [4]. Group 3: Cost Control and Profitability Challenges - Despite the reduction in losses, the company continues to face profitability pressures, with a non-GAAP net profit of -112 million yuan [5]. - The company needs to focus on cost control and improving profitability to sustain its growth trajectory [5][6]. Group 4: Technological Advancements - The company has increased its investment in R&D, launching new products like the Gemini335 and Gemini336 series dual-camera systems, which utilize proprietary depth engine chips [7]. - Collaborations with international research institutions are ongoing to explore applications of 3D visual technology, indicating a commitment to innovation and long-term growth [7].