奥比中光科技集团股份有限公司 董事会提名委员会工作细则 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"）董事和 总经理等高级管理人员的选聘工作，优化董事会组成，完善公司治理结构，根据 《中华人民共和国公司法》等相关法律、法规、规范性文件和《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，公司董事会特设立 提名委员会，并制定本工作细则。 第三章 职责权限 第八条 提名委员会负责拟定董事和高级管理人员的选择标准和程序，对董事、 高级管理人员人选及其任职资格进行遴选、审核，并就下列事项向董事会提出建 议： （一）提名或任免董事； 第三条 本工作细则所称董事是指包括独立董事在内的由股东会选举产生的 全体董事，不包括职工代表董事；本工作细则所称高级管理人员是指《公司章程》 中规定的高级管理人员。 第二章 人员组成 第四条 提名委员会成员由三名董事组成，其中独立董事过半数。 第五条 提名委员会委员由董事长、二分之一以上独立董事或者全体董事的三 分之一提名，并由董事会选举产生。 第六条 提名委员会设主任委员一名作为委员会召集人，由独立董事委员担任， 负责召集、主持委员会 ...

奥比中光科技集团股份有限公司 累积投票制度 第一章 总 则 第一条 为进一步完善奥比中光科技集团股份有限公司（以下简称"公 司"）治理结构、维护中小股东利益，规范公司选举董事的行为，根据《中华人 民共和国公司法》《上市公司治理准则》《上海证券交易所科创板股票上市规则》 等法律法规、规范性文件以及《奥比中光科技集团股份有限公司章程》（以下简 称"《公司章程》"）等有关规定，结合公司的实际情况，制定本制度。 第二条 本制度所指的累积投票制，是指股东会选举董事时，每一股份拥 有与应选董事人数相同的表决权，股东拥有的表决权可以集中使用。 第三条 股东会就选举董事进行表决时，应当实行累积投票制。董事会应 当在召开股东会通知中，表明该次董事的选举采用累积投票制。 前款所称累积投票制是指股东会选举董事时，每一 B 类股份拥有与应选董事 人数相同的表决权，股东拥有的表决权可以集中使用。每一 A 类股份在选举董事 （不包含独立董事）时拥有的表决权为每一 B 类股份拥有的表决权的五倍。 第四条 本制度所称董事包括独立董事和非独立董事（职工代表担任的董 事除外）。职工代表董事由公司职工代表大会选举产生，不适用本制度的相关规 定。 ...

董事会战略委员会工作细则 第一章 总 则 第一条 为适应奥比中光科技集团股份有限公司（以下简称"公司"）战略发 展需要，增强公司核心竞争力，确定公司发展规划，健全投资决策程序，加强决 策科学性，提高重大投资决策的效益和决策的质量，完善公司治理结构，根据《中 华人民共和国公司法》等相关法律、法规、规范性文件和《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，公司董事会特设立战略 委员会，并制定本工作细则。 第二条 董事会战略委员会（以下简称"战略委员会"）是董事会按照《公司 章程》规定设立的专门工作机构，主要负责对公司长期发展战略和重大投资决策 进行研究并提出建议，对董事会负责。 奥比中光科技集团股份有限公司 第二章 人员组成 第三条 战略委员会成员由三名以上董事组成。 第四条 战略委员会委员由董事长、二分之一以上独立董事或者全体董事的三 分之一以上提名，并由董事会选举产生。 第五条 战略委员会设主任委员一名担任委员会召集人，由公司董事长担任， 负责主持、召集委员会工作。 第六条 战略委员会任期与董事会任期一致，委员任期届满，连选可以连任。 期间如有委员不再担任公司董事职务，则其自动失去 ...

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工作细则 第一章 总 则 第一条 为进一步建立健全奥比中光科技集团股份有限公司（以下简称"公 司"）董事及高级管理人员的考核和薪酬管理制度，完善公司治理结构，根据《中 华人民共和国公司法》等相关法律、法规、规范性文件和《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，公司董事会特设立薪 酬与考核委员会，并制定本工作细则。 第二条 董事会薪酬与考核委员会（以下简称"薪酬与考核委员会"）是董事 会按照《公司章程》规定设立的专门工作机构，主要负责研究制订公司董事和高 级管理人员的考核标准，进行考核并提出建议；负责研究制订和审查公司董事和 高级管理人员的薪酬政策与方案。 第三条 本工作细则所称董事是指在本公司领取薪酬的董事，高级管理人员 是指董事会聘任的总经理、首席财务官、董事会秘书、首席技术官、高级副总裁 等其他高级管理人员。 第四条 本工作细则所称"薪酬"指公司向董事、高级管理人员发放的酬金， 包括年薪、奖金及其他福利待遇。 第二章 人员组成 第五条 薪酬与考核委员会成员由三名董事组成，其中独立董事应占多数。 第三章 职责权限 第九条 公 ...

奥比中光科技集团股份有限公司 总经理工作细则 第一章 总则 第一条 为更好地管理奥比中光科技集团股份有限公司（以下简称"公 司"）生产经营工作，促进公司经营管理的制度化、规范化、科学化，确保公司 重大生产经营决策的正确性、合理性，提高民主决策、科学决策水平，以使公司 的生产经营高效有序进行，根据《中华人民共和国公司法》等法律、行政法规、 部门规章、规范性文件和《奥比中光科技集团股份有限公司章程》（以下简称"《公 司章程》"）的有关规定，并结合公司的实际情况，制定本细则。 第二条 公司设总经理一名，由董事长提名，董事会聘任或解聘；公司设 首席财务官一名，由总经理提名，董事会聘任或解聘；公司设首席技术官一名， 由总经理提名，董事会聘任或解聘；公司设高级副总裁等其他高级管理人员，由 总经理提名，董事会聘任或解聘。前述高级管理人员对总经理负责。 第三条 公司总经理主持公司日常业务经营和管理工作，并受董事会委托 组织实施董事会会议决议，对董事会负责。总经理每届任期三年，可连选连任。 第四条 总经理的工作应贯彻诚信、勤勉、守法、高效的原则。 第二章 总经理的职责 第五条 有下列情况之一的，不得担任公司总经理： （一）根据 ...

奥比中光科技集团股份有限公司 内部审计制度 第一章 总 则 第一条 为进一步规范奥比中光科技集团股份有限公司(以下简称"公司") 内部审计工作，提高内部审计工作质量，保护投资者合法权益，依据《中华人民 共和国公司法》《中华人民共和国审计法》《上海证券交易所科创板股票上市规则》 《上海证券交易所科创板上市公司自律监管指引第 1 号——规范运作》等法律法 规、规范性文件和《奥比中光科技集团股份有限公司章程》（以下简称"《公司章 程》"）等有关规定，结合公司实际情况，制定本制度。 第二条 本制度所称被审计对象，指公司各内部机构、控股子公司、具有重 大影响的参股公司等单位和人员。 第三条 本制度所称内部审计是指由公司内部机构或人员，对公司内部控制 和风险管理的有效性、财务信息的真实性和完整性以及经营活动的效率和效果等 开展的一种独立监督的评价活动。 第四条 本制度所称内部控制，是指公司董事会、高级管理人员及其他有关 人员为实现下列目标而提供合理保证的过程： （一）遵守国家法律、法规、规章及其他相关规定； （四）确保公司信息披露的真实、准确、完整和公平。 第二章 一般规定 第五条 公司董事会下设立审计委员会，并制定《董 ...

第一章 总 则 奥比中光科技集团股份有限公司 规范与关联方资金往来的管理制度 第一条 为进一步规范奥比中光科技集团股份有限公司（以下简称"公司"） 与公司关联方的资金往来，建立防范公司控股股东、实际控制人及关联方占用公 司资金的长效机制，保护公司和投资者的合法权益，根据《中华人民共和国公司 法》（以下简称"《公司法》"）、《上市公司治理准则》《上市公司监管指引第 8 号 ——上市公司资金往来、对外担保的监管要求》《上海证券交易所科创板股票上 市规则》（以下简称"《上市规则》"）、《上海证券交易所科创板上市公司自律监管 指引第 1 号——规范运作》等法律、行政法规、部门规章、规范性文件以及《奥 比中光科技集团股份有限公司章程》（以下简称"《公司章程》"）、《奥比中光科 技集团股份有限公司关联交易决策制度》（以下简称"《关联交易决策制度》"） 等有关规定，结合公司的实际情况，制定本制度。 第二条 本制度所称"关联方"是指根据《上市规则》等相关法律、法规及 规范性文件所界定的关联方，包括关联自然人、法人或其他组织。纳入公司合并 报表范围内的子公司与公司关联方之间进行资金往来适用本制度。 第二章 防范控股股东、实际控 ...

一、募集资金基本情况 （一）实际募集资金金额和资金到账时间 证券代码：688322 证券简称：奥比中光 公告编号：2025-065 奥比中光科技集团股份有限公司 2025 年半年度募集资金存放与实际使用情况的专项报告 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。 根据《上市公司募集资金监管规则》（以下简称"《监管规则》"）、 《上海证券交易所科创板股票上市规则》《上海证券交易所科创板上市公司自 律监管指引第 1 号——规范运作》（以下简称"《自律监管指引第 1 号》"） 及《奥比中光科技集团股份有限公司募集资金管理制度》（以下简称"《管理 制度》"）等有关规定，奥比中光科技集团股份有限公司（以下简称"公司"） 编制了《2025 年半年度募集资金存放与实际使用情况的专项报告》，具体内容 如下： 公司于 2023 年 7 月将保荐机构从中信建投变更为中金公司，并与存放募集 资金的监管银行广发银行股份有限公司深圳分行、杭州银行股份有限公司深圳 分行以及兴业银行股份有限公司深圳分行重新签订了《募集资金专户存储三方 监管协议》；公 ...

奥比中光科技集团股份有限公司 关于公司 2025 年度提质增效重回报专项行动方案的 半年度评估报告 为践行"以投资者为本"的上市公司发展理念，贯彻落实《关于开展沪市公司"提 质增效重回报"专项行动的倡议》，推动上市公司持续优化经营、规范治理和积极回 报投资者，奥比中光科技集团股份有限公司（以下简称"公司"）于 2025 年 4 月 22 日在上海证券交易所网站（www.sse.com.cn）披露《2025 年度"提质增效重回报" 行动方案》（以下简称"《行动方案》"），明确了公司 2025 年度提质增效重回报的具体 目标。根据《行动方案》内容，公司积极开展和落实相关工作，现对本次专项行动方 案半年度的实施情况进行评估总结，具体如下： 二、深化国内国际"双循环"布局，创造价值赢得市场 当前，人工智能、具身智能等新质生产力领域已成为驱动企业"双循环"战略的 重要引擎。公司紧抓时代发展机遇，积极跟踪境内外市场和各类新兴行业的发展趋势， 持续提升产业趋势预判能力，确保战略决策与市场变化同频共振。 经过多年发展布局，公司通过技术创新与性能优化加速产品迭代，相关方案/产 品性能均能满足各场景高标准要求，对标国际科技巨头。 ...

[Definitions](index=5&type=section&id=第一节%20释义) This chapter provides definitions of common terms used in the report, including company names, subsidiaries, technical terms, and legal, regulatory, and financial terms, to help readers understand the report content - Defined the company and its main subsidiary names, such as Orbbec, Mario Technology, Shunde Orbbec - Explained core technical terms, including 3D vision sensor, AIoT, ToF, iToF, dToF, CMOS, SoC, Fabless, SPAD - Clarified the reporting period as January 1, 2025, to June 30, 2025[14](index=14&type=chunk) [Company Profile and Key Financial Indicators](index=8&type=section&id=第二节%20公司简介和主要财务指标) This section outlines the company's basic information, contact details, information disclosure channels, and key accounting data and financial indicators for the first half of 2025, showing significant growth in revenue and net profit, but a decrease in R&D investment as a percentage of revenue [Company Basic Information](index=8&type=section&id=一、公司基本情况) Introduces Orbbec Group Co., Ltd.'s Chinese name, abbreviation, English name, legal representative, registered and office addresses, company website, and email, noting historical changes in the registered address - Company Chinese name: Orbbec Group Co., Ltd., abbreviation: **Orbbec**[16](index=16&type=chunk) - Legal Representative: **Huang Yuanhao**[16](index=16&type=chunk) - Company Website: **https://www.orbbec.com.cn**[16](index=16&type=chunk) [Contact Person and Information](index=8&type=section&id=二、联系人和联系方式) Provides contact details including address, phone, fax, and email for the company's Board Secretary (domestic information disclosure representative) Jin Shang and Securities Affairs Representative Guo Kailin - Board Secretary: **Jin Shang**, Contact Number: **0755-26402692**[17](index=17&type=chunk) - Securities Affairs Representative: **Guo Kailin**, Email: **ir@orbbec.com**[17](index=17&type=chunk) [Brief Introduction to Changes in Information Disclosure and Document Storage Locations](index=8&type=section&id=三、信息披露及备置地点变更情况简介) Lists the company's designated newspapers for information disclosure (Shanghai Securities News, etc.), the website for semi-annual reports (www.sse.com.cn), and the location for report storage (Company Board Office), stating no changes during the reporting period - Designated newspapers for information disclosure: **"Shanghai Securities News," "China Securities Journal," "Securities Times," "Securities Daily"**[18](index=18&type=chunk) - Report publication website: **www.sse.com.cn**[18](index=18&type=chunk) [Brief Introduction to Company Shares/Depositary Receipts](index=8&type=section&id=四、公司股票/存托凭证简况) Briefly introduces the company's share type, listing exchange and board, stock abbreviation, and code, clarifying that the company has no depositary receipts - Share type: **RMB ordinary shares**[19](index=19&type=chunk) - Listing exchange and board: **Shanghai Stock Exchange STAR Market**[19](index=19&type=chunk) - Stock abbreviation: **Orbbec**, Stock code: **688322**[1](index=1&type=chunk) [Company's Key Accounting Data and Financial Indicators](index=9&type=section&id=六、公司主要会计数据和财务指标) Discloses the company's key accounting data and financial indicators for the first half of 2025, showing a significant 104.14% year-on-year increase in operating revenue, a shift from loss to profit, and a substantial increase in net cash flow from operating activities, but a decrease in R&D investment as a percentage of operating revenue 2025 H1 Key Accounting Data | Indicator | Current Reporting Period (Jan-Jun) | Prior Year Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 435,469,288.84 yuan | 213,315,786.16 yuan | 104.14% | | Total Profit | 51,857,544.15 yuan | -51,981,303.30 yuan | N/A | | Net Profit Attributable to Shareholders of Listed Company | 60,190,103.28 yuan | -53,373,140.62 yuan | N/A | | Net Cash Flow from Operating Activities | 84,361,153.19 yuan | -29,149,527.65 yuan | N/A | | Net Assets Attributable to Shareholders of Listed Company (Period-end) | 2,932,076,738.45 yuan | 2,867,303,020.47 yuan | 2.26% | | Total Assets (Period-end) | 3,327,061,105.46 yuan | 3,328,990,861.53 yuan | -0.06% | 2025 H1 Key Financial Indicators | Indicator | Current Reporting Period (Jan-Jun) | Prior Year Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (yuan/share) | 0.15 | -0.13 | N/A | | Diluted Earnings Per Share (yuan/share) | 0.15 | -0.13 | N/A | | Basic Earnings Per Share After Deducting Non-recurring Gains and Losses (yuan/share) | 0.08 | -0.20 | N/A | | R&D Investment as % of Operating Revenue | 20.94 | 49.71 | Decreased by 28.77 percentage points | - **Operating revenue significantly increased by 104.14%**, primarily due to growth in 3D scanning and payment scenarios[22](index=22&type=chunk)[118](index=118&type=chunk) - **Net profit attributable to parent company owners turned from loss to profit**, increasing by **113.5632 million yuan**[22](index=22&type=chunk) - **Net cash flow from operating activities increased by 113.5107 million yuan**, primarily due to increased sales collections[23](index=23&type=chunk) [Non-recurring Gains and Losses Items and Amounts](index=10&type=section&id=八、非经常性损益项目和金额) Lists non-recurring gains and losses items and their amounts for the first half of 2025, totaling 30.00095189 million yuan, primarily comprising government grants and fair value changes in financial assets 2025 H1 Non-recurring Gains and Losses Items | Non-recurring Gains and Losses Item | Amount | | :--- | :--- | | Gains/losses from disposal of non-current assets | -27,624.01 yuan | | Government grants included in current profit/loss | 15,212,968.39 yuan | | Gains/losses from changes in fair value and disposal of financial assets and liabilities | 18,361,765.38 yuan | | Other non-operating income and expenses | -10,975.63 yuan | | Less: Income tax impact | 3,462,638.25 yuan | | Impact on minority interests (after tax) | 72,543.99 yuan | | **Total** | **30,000,951.89 yuan** | [Net Profit After Deducting Share-based Payment Impact](index=11&type=section&id=九、存在股权激励、员工持股计划的公司可选择披露扣除股份支付影响后的净利润) Discloses the company's net profit after deducting the impact of share-based payments for the first half of 2025, which was 70.0251 million yuan, a significant improvement from the previous year Net Profit After Deducting Share-based Payment Impact | Indicator | Current Reporting Period (Jan-Jun) | Prior Year Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Net profit after deducting share-based payment impact | 70.0251 million yuan | -26.9753 million yuan | N/A | [Management Discussion and Analysis](index=12&type=section&id=第三节%20管理层讨论与分析) This section details the company's operating performance for the first half of 2025, including its industry, main business, operating model, core competitiveness, R&D progress, and risks, highlighting continuous innovation in 3D vision sensing, focus on embodied AI and AI terminal markets, and significant revenue and profit growth, marking an "inflection point" in operations [Explanation of Industry and Main Business Operations](index=12&type=section&id=一、报告期内公司所属行业及主营业务情况说明) Describes Orbbec as a 3D vision sensing product supplier, specializing in the design, R&D, production, and sales of 3D vision sensors and application equipment, belonging to the "Computer, Communication, and Other Electronic Equipment Manufacturing" industry, with the 3D vision sensing market projected to reach $17.2 billion by 2028, and no significant changes in the company's main business during the reporting period - Company's main business: **Design, R&D, production, and sales of 3D vision sensing products**[31](index=31&type=chunk)[34](index=34&type=chunk) - Main products: **3D vision sensors, consumer-grade application equipment, and industrial-grade application equipment**[31](index=31&type=chunk)[34](index=34&type=chunk) - Industry: **"Computer, Communication, and Other Electronic Equipment Manufacturing"** within the manufacturing sector[31](index=31&type=chunk) - Global 3D vision sensing market size is projected to reach **$17.2 billion by 2028**[33](index=33&type=chunk) - No significant changes in the company's main business during the reporting period[35](index=35&type=chunk) [Main Operating Models](index=13&type=section&id=（三）主要经营模式) Explains the company's procurement model (general and custom components), production model (primarily in-house with some outsourced processing), and sales model (primarily direct sales), ensuring supply chain efficiency and product quality - Procurement model: **Procurement of general and custom components** based on order demand and market forecasts (Fabless model for self-developed chips, supplier customization, company design drawings for production)[36](index=36&type=chunk) - Production model: **3D vision sensors primarily produced in-house**; consumer-grade application equipment combines in-house production with outsourced processing; industrial-grade application equipment is self-processed and produced[37](index=37&type=chunk) - Sales model: **Primarily direct sales**, targeting domestic and international customers[38](index=38&type=chunk) [Discussion and Analysis of Operating Performance](index=13&type=section&id=二、经营情况的讨论与分析) In the first half of 2025, the company's operating performance continued to improve, achieving operating revenue of 435.4693 million yuan, a 104.14% year-on-year increase, and net profit attributable to shareholders of 60.1901 million yuan, successfully reaching an "operating inflection point" by focusing on essential downstream markets and diversifying its market layout, with significant progress in biometric identification, AIoT (robotics, 3D scanning), industrial 3D measurement, and overseas business - **2025 H1 operating revenue: 435.4693 million yuan, a year-on-year increase of 104.14%**[40](index=40&type=chunk) - **2025 H1 net profit attributable to listed company shareholders: 60.1901 million yuan**, an increase of **113.5632 million yuan** compared to the prior year period[40](index=40&type=chunk) - The company successfully reached an **"operating inflection point"**, with continuous improvement in business scale and profitability[39](index=39&type=chunk) [Focusing on Essential Downstream Markets and Improving Diversified Market Layout](index=14&type=section&id=（一）聚焦刚需下游市场，完善多元化市场布局) The company actively seizes opportunities from large model technology, smart device terminal upgrades, and breakthroughs in embodied AI, continuously promoting 3D vision sensing technology in biometric identification (offline payment, medical insurance verification, 'tap-to-pay'), AIoT (service robots, industrial robots, humanoid robots, 3D scanning), industrial 3D measurement, and overseas markets, establishing collaborations with industry leaders - Biometric identification: Strengthened the application of 3D vision sensors in offline retail, self-service cabinets, catering, medical, and transportation payment scenarios[41](index=41&type=chunk) - Biometric identification: Full-process **"smart medical insurance facial recognition for medical treatment"** has been implemented in major provinces nationwide, effectively preventing medical insurance fraud[42](index=42&type=chunk) - Biometric identification: Partnered with Ant Group to launch **"tap-to-pay"** integrated payment devices, optimizing payment convenience[43](index=43&type=chunk)[44](index=44&type=chunk) - AIoT (Robotics): Provides **full technical route 3D vision sensors** including monocular structured light, binocular structured light, lidar, and iToF, empowering service robots, industrial robots, and humanoid robots[45](index=45&type=chunk) - AIoT (Robotics): Collaborated with Yunji Technology, Keenon Robotics, Pudu Robotics, Gaussian Robotics, RoboCare, and others, covering service robot scenarios such as lawnmowers, hotel delivery, commercial cleaning, and elder companionship[46](index=46&type=chunk) - AIoT (Robotics): Assisted Twinny in launching the **NarGo order picking robot** and Captic in launching the **AI vision system Captic AIR**, enhancing industrial automation efficiency[47](index=47&type=chunk)[48](index=48&type=chunk) - AIoT (Robotics): The **"Tiangong" robot**, equipped with the company's 3D vision sensor, won the championship in the world's first humanoid robot marathon[48](index=48&type=chunk) - AIoT (3D Scanning): Assisted Creality in launching two new 3D scanners, **Otter Lite and Raptor Pro**, improving scanning accuracy and efficiency[50](index=50&type=chunk) - AIoT (3D Scanning): The 3D scanning market demand continues to grow, projected to reach **$8.8 billion by 2030**[49](index=49&type=chunk) - Industrial 3D Measurement: Optimized and upgraded industrial-grade application equipment and software such as **3D full-field strain measurement, 3D optical scanning measurement, and 3D optical pipe bending measurement**[53](index=53&type=chunk) - Industrial 3D Measurement: Subsidiary Xintuo Xi'an's operations continue to accelerate, with continuous optimization of product iteration and R&D[53](index=53&type=chunk) - Overseas Business: Collaborated with South Korea's RoboCare, Twinny, and Poland's Lavavision to expand overseas robot and interactive software applications[54](index=54&type=chunk) - Overseas Business: Established partnerships with five technical distributors, including WDL Systems, at the Automate 2025 exhibition, expanding the global distribution network[55](index=55&type=chunk) [Optimizing Product Series, Focusing on Robotics and AI Vision Application Scenarios](index=18&type=section&id=（二）优化产品系列，聚焦机器人与%20AI%20视觉应用场景) The company, relying on its full-stack R&D capabilities and comprehensive technology roadmap, continuously optimizes its 3D vision sensing product series, launching the new industrial-grade stereo 3D camera Orbbec Gemini 435Le to meet market demands in embodied AI, AI vision, and 3D printing, and has accumulated numerous patents and software copyrights - Launched the new industrial-grade stereo 3D camera **Orbbec Gemini 435Le**, featuring long-range high-precision sensing and accurate edge contour restoration capabilities[57](index=57&type=chunk) - As of the end of the reporting period, cumulatively applied for **1,903 patents** (990 invention patents), obtained **1,112 patents** (479 invention patents), and **117 software copyrights**[58](index=58&type=chunk) [Analysis of Core Competitiveness](index=18&type=section&id=三、报告期内核心竞争力分析) The company's core competitiveness lies in its full-stack, all-domain 3D vision sensing technology R&D and innovation capabilities, a multidisciplinary core team, upstream and downstream resources gathering global supply chains and industry-leading customers, million-unit scale production capacity, and a brand advantage that efficiently empowers global customers - Technology Advantage: Possesses **"full-stack technology R&D capabilities + full-domain technology roadmap"**, making it one of the few companies globally with a comprehensive layout of mainstream 3D vision sensing technologies[59](index=59&type=chunk)[60](index=60&type=chunk) - Talent Advantage: A multidisciplinary R&D team led by founder Huang Yuanhao, with **24 PhDs** and R&D personnel accounting for approximately **43.45%**[62](index=62&type=chunk)[64](index=64&type=chunk) - Industry Chain Advantage: Possesses sensor module production, 3D vision sensing solutions, and application algorithm capabilities, establishing partnerships with leading customers across various industries, forming strong customer stickiness[65](index=65&type=chunk)[66](index=66&type=chunk) - Mass Production Advantage: Mastered independent core technologies, achieved **million-unit scale production capacity**, and invested in self-built factories, with the first phase of the Foshan Shunde intelligent manufacturing base already in operation[67](index=67&type=chunk)[68](index=68&type=chunk) - Brand Advantage: Possesses deep technological accumulation and rich industry application experience, launched the industrial-grade stereo vision solution **Gemini 435Le**, expanded its global distribution network, and received multiple technology awards[69](index=69&type=chunk) [Core Technologies and R&D Progress](index=21&type=section&id=(三)%20核心技术与研发进展) The company has built a "full-stack technology R&D capability + full-domain technology roadmap" 3D vision sensing technology system, achieving significant progress in both consumer and industrial fields, with core technologies covering system design, chip design, algorithm development, optical design, and mass production technology, continuously investing in R&D, and holding numerous patents and ongoing projects - Core Technology System: **"Full-stack technology R&D capabilities + full-domain technology roadmap"**, covering structured light, iToF, dToF, Lidar, and other technical routes[71](index=71&type=chunk)[72](index=72&type=chunk) - Chip Design: Successfully developed **five generations of depth engine chips (MX series)**, **three dToF photosensitive chips (LS635)**, **two iToF photosensitive chips**, and **structured light specific photosensitive chips**[77](index=77&type=chunk)[78](index=78&type=chunk)[81](index=81&type=chunk)[82](index=82&type=chunk)[83](index=83&type=chunk)[84](index=84&type=chunk) - Algorithm R&D: **Depth engine algorithms** (structured light, stereo, iToF) and **consumer-grade application algorithms** (skeleton tracking, image segmentation, 3D reconstruction, VSLAM, immersive AR)[86](index=86&type=chunk)[87](index=87&type=chunk)[88](index=88&type=chunk) - R&D Investment: **2025 H1 R&D investment totaled 91.1807 million yuan**, accounting for **20.94% of operating revenue**[99](index=99&type=chunk) - Intellectual Property: As of the end of the reporting period, cumulatively applied for **1,903 patents** (990 invention patents), obtained **1,112 patents** (479 invention patents), and **117 software copyrights**[98](index=98&type=chunk) [Core Technologies and Their Advanced Nature](index=21&type=section&id=1、%20核心技术及其先进性以及报告期内的变化情况) The company's core technology advanced nature is reflected in its full-stack R&D capabilities and system-level optimization, covering consumer and industrial 3D vision sensing technologies, including structured light, iToF, dToF, Lidar system design, depth engine chips (MX series), photosensitive chips (LS635), depth engine algorithms, consumer application algorithms, optical design, and mass production technologies for consumer applications, and 3D optical scanning, 3D full-field strain measurement, and 3D optical pipe bending measurement systems and core algorithms for industrial applications - Advanced Consumer 3D Vision Sensing Technology: System design covers **speckle structured light off-axis optical 3D measurement, three-tap iToF, disparity dToF, and single-point/multi-line/solid-state array Lidar system solutions**[76](index=76&type=chunk) - Advanced Consumer 3D Vision Sensing Technology: Chip design includes **MX series depth engine chips** (MX400 to MX6800), **iToF photosensitive chips** (BSI back-illuminated 65nm+65nm Stacking process), **dToF photosensitive chips** (LS635, 3D stacking process), and **structured light specific photosensitive chips**[78](index=78&type=chunk)[79](index=79&type=chunk)[80](index=80&type=chunk)[81](index=81&type=chunk)[83](index=83&type=chunk)[85](index=85&type=chunk) - Advanced Consumer 3D Vision Sensing Technology: Algorithm R&D includes **depth engine algorithms** (structured light, stereo, iToF) and **consumer-grade application algorithms** (skeleton tracking, image segmentation, 3D reconstruction, VSLAM, immersive AR)[86](index=86&type=chunk)[88](index=88&type=chunk) - Advanced Consumer 3D Vision Sensing Technology: Optical design covers **laser emitters, diffractive optical elements, laser projection modules, lenses, and optical system design**[89](index=89&type=chunk)[90](index=90&type=chunk) - Advanced Consumer 3D Vision Sensing Technology: Mass production technology includes **independently developed high-precision assembly, optical axis AA, calibration alignment, and other full-chain mass production process core equipment**, achieving **million-unit scale mass production**[92](index=92&type=chunk) - Advanced Industrial 3D Vision Sensing Technology: System design includes **3D optical scanning measurement, 3D full-field strain measurement, and 3D optical pipe bending measurement systems**[94](index=94&type=chunk) - Advanced Industrial 3D Vision Sensing Technology: Algorithm design includes **photogrammetry, image correlation matching, multi-view vision pipe bending reconstruction, and stereo structured light 3D reconstruction core algorithms**[95](index=95&type=chunk) - Advanced Industrial 3D Vision Sensing Technology: Software platform includes building an **industrial software development platform** to achieve unified interfaces, local inheritance and calibration, diversified functions, and differentiated authorization[97](index=97&type=chunk) [R&D Achievements During the Reporting Period](index=30&type=section&id=2、%20报告期内获得的研发成果) As of the end of the reporting period, the company had cumulatively applied for 1,903 patents, obtained 1,112 authorized patents (including 479 invention patents), and 117 software copyrights, with 47 new patent applications and 110 patents obtained during the reporting period Cumulative R&D Achievements | Category | Applications (units) | Grants (units) | | :--- | :--- | :--- | | Invention Patents | 990 | 479 | | Utility Model Patents | 419 | 395 | | Design Patents | 282 | 238 | | Software Copyrights | 117 | 117 | | Others | 228 | 16 | | **Total** | **2,036** | **1,245** | New R&D Achievements in Current Period | Category | Applications (units) | Grants (units) | | :--- | :--- | :--- | | Invention Patents | 9 | 64 | | Utility Model Patents | 6 | 17 | | Design Patents | 20 | 17 | | Software Copyrights | 12 | 12 | | **Total** | **47** | **110** | [R&D Investment Table](index=30&type=section&id=3、%20研发投入情况表) In the first half of 2025, the company's total R&D investment was 91.1807 million yuan, a year-on-year decrease of 14.02%, with R&D investment accounting for 20.94% of operating revenue, a decrease of 28.77 percentage points from the previous year R&D Investment Status | Indicator | Current Period Amount | Prior Year Period Amount | Change (%) | | :--- | :--- | :--- | :--- | | Expensed R&D Investment | 91,180,748.39 yuan | 106,049,656.44 yuan | -14.02% | | Total R&D Investment | 91,180,748.39 yuan | 106,049,656.44 yuan | -14.02% | | Total R&D Investment as % of Operating Revenue | 20.94% | 49.71% | -28.77 percentage points | [Ongoing R&D Projects](index=32&type=section&id=4、%20在研项目情况) The company currently has 8 major ongoing R&D projects, covering stereo 3D vision sensors, SDK and application algorithms, array dToF photosensitive chips, handheld scanners, robot autonomous mobile solutions, high-performance wide-angle short-range lidar, 'tap-to-pay' terminals, and multi-core heterogeneous 3D reconstruction chips, with a total estimated investment of 810 million yuan and 76.7582 million yuan invested in the current period Overview of Major R&D Projects | No. | Project Name | Estimated Total Investment (million yuan) | Current Period Investment (million yuan) | Cumulative Investment (million yuan) | Progress or Interim Results | Target | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | 1 | R&D and Industrialization of Stereo 3D Vision Sensors | 80.00 | 8.8461 | 143.1947 | Commercialization stage, continuous optimization and iteration | Industry advanced level | | 2 | R&D of User-Oriented SDK and Application Algorithms | 300.00 | 4.6526 | 221.2866 | Continuous optimization and iteration, building algorithm display and application platform | Industry advanced level | | 3 | Design and R&D of Array dToF Photosensitive Chips | 100.00 | 5.4627 | 86.5699 | Application expansion stage, continuous optimization and iteration | Industry advanced level | | 4 | R&D and Industrialization of Handheld Scanner Key Technologies | 30.00 | 16.7858 | 62.4564 | Commercialization stage, continuous optimization and iteration | International advanced level | | 5 | R&D and Industrialization of Core Technologies for Robot Autonomous Mobile Solutions | 200.00 | 17.9852 | 53.6160 | Commercialization stage, continuous optimization and iteration | Industry advanced level | | 6 | R&D and Industrialization of High-Performance Wide-Angle Short-Range Lidar | 20.00 | 3.4155 | 12.6486 | R&D stage | Industry advanced level | | 7 | R&D and Industrialization of "Tap-to-Pay" Terminals | 50.00 | 11.1332 | 17.7795 | Commercialization stage, continuous optimization and iteration | Industry advanced level | | 8 | R&D of Multi-core Heterogeneous 3D Reconstruction Chips | 30.00 | 8.4771 | 9.9759 | R&D stage | Industry leading level | | **Total** | **810.00** | **76.7582** | **607.5276** | | | [R&D Personnel Information](index=34&type=section&id=5、%20研发人员情况) As of the end of the reporting period, the company had 335 R&D personnel, accounting for 43.45% of the total workforce, with total R&D personnel compensation of 67.0480 million yuan and an average compensation of 0.2020 million yuan, and the R&D team's educational background is primarily bachelor's and master's degrees, with an age structure mainly between 30-40 years old - R&D personnel count: **335 people**, accounting for **43.45%** of the company's total workforce[106](index=106&type=chunk) - Total R&D personnel compensation: **67.0480 million yuan**[106](index=106&type=chunk) - R&D personnel educational background: **13 PhDs (3.88%)**, **90 Masters (26.87%)**, **206 Bachelors (61.49%)**[106](index=106&type=chunk) - R&D personnel age structure: **139 people under 30 (41.49%)**, **158 people aged 30-40 (47.16%)**[106](index=106&type=chunk) [Risk Factors](index=34&type=section&id=四、风险因素) The company faces risks such as not yet being profitable, rapid iteration of 3D vision sensing technology, core technology leakage, loss of core technical talent, and macroeconomic uncertainties, and has implemented various countermeasures including improving R&D efficiency, optimizing product structure, strengthening intellectual property protection, and talent incentives to address these challenges - Risk of not yet being profitable: Although the company has achieved profitability, the risk of full-year profitability still exists, which will be addressed by improving R&D efficiency, optimizing product structure, and reducing costs and increasing efficiency[107](index=107&type=chunk) - Risk of technological iteration and innovation: 3D vision sensing technology is rapidly evolving, requiring the company to continuously research and iterate, accelerate the development of reserve technologies, and ensure a leading technological edge[109](index=109&type=chunk) - Risk of core technology leakage: The company has established strict R&D processes and intellectual property protection systems, and signed confidentiality and non-compete agreements with core technical personnel[110](index=110&type=chunk) - Risk of core technical talent loss: The company strengthens talent cultivation and incentives through equity incentive plans and interest-free housing loans for employees, increasing employee cohesion[111](index=111&type=chunk) - Operating risk: The application scenarios for 3D vision sensing products are still in the early stages of large-scale industrialization, and growth has uncertainties; the company will strategically focus on core technology essential application scenarios[113](index=113&type=chunk) - Macroeconomic environment risk: Increased uncertainty in the global political and economic environment; the company will monitor international trade frictions, enhance R&D, intelligent manufacturing, and management capabilities to strengthen its risk resistance[114](index=114&type=chunk) [Key Operating Performance During the Reporting Period](index=36&type=section&id=五、报告期内主要经营情况) During the reporting period, the company's total operating revenue increased by 104.14% year-on-year, and net profit attributable to shareholders turned profitable, with this section detailing the changes in financial statement items, asset and liability status, investment situation, and key holding and associate companies - **Total operating revenue: 435.4693 million yuan, a year-on-year increase of 104.14%**[115](index=115&type=chunk) - **Net profit attributable to parent company owners: 60.1901 million yuan**, an increase of **113.5632 million yuan** compared to the prior year period[115](index=115&type=chunk) - **Net profit attributable to parent company owners after deducting non-recurring gains and losses: 30.1892 million yuan**, an increase of **111.0951 million yuan** compared to the prior year period[115](index=115&type=chunk) [Main Business Analysis](index=36&type=section&id=(一)%20主营业务分析) Analyzes the changes in key financial statement items, showing significant increases in operating revenue and cost of goods sold, an 'N/A' change in financial expenses due to reduced interest income, and a substantial improvement in net cash flow from operating activities due to increased sales collections Changes in Financial Statement Items | Item | Current Period Amount | Prior Year Period Amount | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 435,469,288.84 | 213,315,786.16 | 104.14 | Growth in 3D scanning and payment scenarios | | Operating Cost | 255,741,949.30 | 122,571,606.27 | 108.65 | Increase in operating revenue | | Selling Expenses | 32,935,469.18 | 33,959,233.23 | -3.01 | | | Administrative Expenses | 44,916,314.95 | 54,245,250.94 | -17.20 | | | Financial Expenses | -2,802,412.14 | -27,366,618.73 | N/A | Decrease in interest income | | R&D Expenses | 91,180,748.39 | 106,049,656.44 | -14.02 | | | Net Cash Flow from Operating Activities | 84,361,153.19 | -29,149,527.65 | N/A | Increase in sales collections | | Net Cash Flow from Investing Activities | -29,365,865.85 | -329,457,864.80 | N/A | Decrease in infrastructure expenditure and increase in bank wealth management product redemptions | | Net Cash Flow from Financing Activities | -44,912,992.99 | -90,091,414.32 | N/A | Increase in bank borrowings | [Analysis of Assets and Liabilities](index=37&type=section&id=(三)%20资产、负债情况分析) Analyzes changes in the company's period-end assets and liabilities, with notes receivable, construction in progress, right-of-use assets, employee compensation payable, and taxes payable decreasing, while prepayments, notes payable, and other current liabilities increased, and overseas assets accounted for 1.01% of total assets Changes in Assets and Liabilities | Item Name | Current Period End Amount | % of Total Assets at Period End | Prior Year End Amount | % of Total Assets at Prior Year End | % Change from Prior Year End | Explanation | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Notes Receivable | 26,374,952.02 | 0.79 | 45,203,383.35 | 1.36 | -41.65 | Notes matured | | Prepayments | 15,499,170.59 | 0.47 | 10,446,870.65 | 0.31 | 48.36 | Increase in supplier prepayments | | Construction in Progress | 44,820,928.30 | 1.35 | 72,214,966.46 | 2.17 | -37.93 | Partial transfer of Shunde subsidiary infrastructure project to fixed assets | | Right-of-Use Assets | 2,026,076.62 | 0.06 | 3,031,075.81 | 0.09 | -33.16 | Depreciation of right-of-use assets | | Notes Payable | 7,041,898.00 | 0.21 | 5,407,618.08 | 0.16 | 30.22 | Increase in note payments | | Employee Compensation Payable | 30,719,609.21 | 0.92 | 45,067,447.16 | 1.35 | -31.84 | Payment of prior year's annual bonus | | Taxes Payable | 6,492,668.61 | 0.20 | 9,375,267.04 | 0.28 | -30.75 | Payment of prior year-end VAT | | Other Current Liabilities | 1,760,354.13 | 0.05 | 990,416.91 | 0.03 | 77.74 | Increase in deferred output VAT | | Lease Liabilities | 571,659.00 | 0.02 | 855,589.73 | 0.03 | -33.19 | Rent payment | - Overseas assets: **33.58279074 million yuan**, accounting for **1.01% of total assets**[122](index=122&type=chunk) - Restricted assets: **6.92778574 million yuan in monetary funds**, primarily for letter of guarantee deposits, bank acceptance bill deposits, and e-commerce platform deposits[123](index=123&type=chunk) [Analysis of Investment Status](index=39&type=section&id=(四)%20投资状况分析) During the reporting period, the company's external equity investment decreased by 100%, while the period-end balance of financial assets measured at fair value increased, primarily due to trading financial assets and equity instrument investments - Current period investment amount: **3.00 yuan**, prior year period investment amount: **62.60 million yuan**, change: **-100.00%**[126](index=126&type=chunk) Financial Assets Measured at Fair Value | Asset Category | Beginning Balance | Current Period Purchases | Current Period Sales/Redemptions | Ending Balance | | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | 345,000,000.00 | 857,930,000.00 | 772,859,690.12 | 430,540,288.67 | | Other Equity Instrument Investments | 94,345,463.44 | 0 | 0 | 94,345,463.44 | | **Total** | **439,345,463.44** | **857,930,000.00** | **772,859,690.12** | **524,885,752.11** | [Analysis of Major Holding and Associate Companies](index=40&type=section&id=(六)%20主要控股参股公司分析) Lists basic information for the company's major holding and associate companies, including Mario Technology and Shanghai Aocheng, and notes the deregistration of subsidiary Mario Software during the reporting period, with no significant impact Major Holding and Associate Company Financial Data | Company Name | Company Type | Main Business | Registered Capital | Total Assets | Net Assets | Operating Revenue | Operating Profit | Net Profit | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Mario Technology | Subsidiary | R&D and sales of payment identification related products | 20,000,000.00 | 293,336,620.10 | 160,573,591.86 | 211,223,850.68 | 13,925,176.26 | 14,690,541.95 | | Shanghai Aocheng | Subsidiary | Chip-related R&D | 60,000,000.00 | 1,200,382.85 | -11,311,565.61 | -10,376,341.39 | -10,376,090.49 | -10,376,090.49 | - During the reporting period, subsidiary **Mario Software was deregistered**, with no significant impact on overall production, operations, or performance[129](index=129&type=chunk) [Corporate Governance, Environment, and Society](index=42&type=section&id=第四节%20公司治理、环境和社会) This section discloses changes in the company's directors, senior management, and core technical personnel, profit distribution plan, and the implementation of equity incentive and employee stock ownership plans, noting Mr. Zhang Dingjun's resignation as a non-independent director and election as an employee representative director during the reporting period, no semi-annual profit distribution, and ongoing equity incentive plans [Changes in Directors, Senior Management, and Core Technical Personnel](index=42&type=section&id=一、公司董事、高级管理人员和核心技术人员变动情况) During the reporting period, Mr. Zhang Dingjun resigned as a non-independent director of the second board of directors and was elected as an employee representative director of the second board of directors on May 21, 2025 - Mr. Zhang Dingjun resigned as a non-independent director and was elected as an **employee representative director**[132](index=132&type=chunk) [Profit Distribution or Capital Reserve Conversion Plan](index=42&type=section&id=二、利润分配或资本公积金转增预案) The company's proposed semi-annual profit distribution or capital reserve conversion plan is "No", indicating no distribution or conversion will be made - Whether to distribute or convert: **No**[132](index=132&type=chunk) - Number of bonus shares per 10 shares: **N/A**[132](index=132&type=chunk) - Dividend per 10 shares (yuan) (tax included): **N/A**[132](index=132&type=chunk) [Equity Incentive Plans, Employee Stock Ownership Plans, and Other Incentive Measures](index=42&type=section&id=三、公司股权激励计划、员工持股计划或其他员工激励措施的情况及其影响) The company has completed the vesting of the second vesting period for the initial grant of the 2022 Restricted Stock Incentive Plan, involving 120 incentive recipients and 1.09884 million shares, and also has 15 employee stock ownership platforms established before listing - The **second vesting period of the initial grant of the 2022 Restricted Stock Incentive Plan** has been completed, involving **120 incentive recipients** and **1.09884 million shares** eligible for vesting[133](index=133&type=chunk) - The company has **15 employee stock ownership platforms** established before listing, implementing incentives for employees through these platforms[134](index=134&type=chunk) [Significant Matters](index=44&type=section&id=第五节%20重要事项) This section details the company's fulfillment of commitments, major lawsuits and arbitrations, significant related-party transactions, and progress in the use of raised funds during or continuing into the reporting period, indicating strict adherence to all commitments, no major lawsuits or arbitrations, routine related-party transactions within estimated limits, and an overall utilization rate of 80.65% for raised funds [Fulfillment of Commitments](index=44&type=section&id=一、承诺事项履行情况) Details various commitments made by the company's controlling shareholder, shareholders, related parties, and the company itself regarding share lock-up, holding intentions, share price stability, fraudulent issuance repurchase, immediate return compensation, profit distribution policy, liability for compensation, avoidance of horizontal competition, and standardization of related-party transactions, stating that all commitments have been strictly fulfilled - Controlling shareholder and actual controller Huang Yuanhao's share lock-up commitment: **No transfer within three years from the listing date**; if not profitable at listing, no reduction within three years before profitability, and no more than 2% of total share capital reduced annually in the 4th and 5th years[147](index=147&type=chunk) - Employee stock ownership platform share lock-up commitment: **No transfer within three years from the listing date**; if not profitable at listing, no reduction within three years before profitability, and no more than 2% of total share capital reduced annually in the 4th and 5th years[148](index=148&type=chunk)[149](index=149&type=chunk) - Company and controlling shareholder, actual controller, non-independent directors, and senior management's commitment to stabilize share price: If the share price falls below net asset value per share for 20 consecutive trading days, **repurchase or增持 measures will be initiated**[164](index=164&type=chunk)[165](index=165&type=chunk)[166](index=166&type=chunk)[167](index=167&type=chunk) - Company and controlling shareholder, actual controller's commitment to repurchase shares in case of fraudulent issuance: If there is a fraudulent issuance, **all new shares will be repurchased**[169](index=169&type=chunk) - Controlling shareholder and actual controller's commitment to avoid horizontal competition: **Will not directly or indirectly engage in businesses that compete with the company's main business**[177](index=177&type=chunk) - All commitments are **"Yes"** for timely and strict fulfillment[137](index=137&type=chunk)[138](index=138&type=chunk)[139](index=139&type=chunk)[140](index=140&type=chunk)[141](index=141&type=chunk)[142](index=142&type=chunk)[143](index=143&type=chunk)[144](index=144&type=chunk)[145](index=145&type=chunk)[146](index=146&type=chunk) [Major Litigation and Arbitration Matters](index=65&type=section&id=七、重大诉讼、仲裁事项) The company had no major litigation or arbitration matters during the reporting period, but after the reporting period, on July 8, 2025, the company filed a lawsuit against Shenzhen Guangjian Technology Co., Ltd. for patent infringement, seeking 50.25 million yuan in damages from the Shenzhen Intermediate People's Court - The company had **no major litigation or arbitration matters** during the reporting period[189](index=189&type=chunk) - After the reporting period, the company filed a patent infringement lawsuit, with the amount involved being **50.25 million yuan**[189](index=189&type=chunk) [Significant Related-Party Transactions](index=65&type=section&id=十、重大关联交易) The company in the reporting period engaged in routine related-party transactions with associated parties, including technical platform fees, procurement of goods, sales of goods, and provision of services, having estimated and newly estimated its 2025 annual routine related-party transactions and fulfilled the required review and disclosure procedures - The total estimated amount for **2025 annual routine related-party transactions does not exceed 234 million yuan**[190](index=190&type=chunk) - The total newly estimated amount for **2025 annual routine related-party transactions does not exceed 170 million yuan**[191](index=191&type=chunk) - Related-party transactions with Ant Group (including Hangzhou Huanxu, Alipay China, Alipay Hangzhou, Ant Guangzhou, Ant Hainan) include **technical platform fees, procurement of goods, sales of goods, and provision of services**[570](index=570&type=chunk)[571](index=571&type=chunk) - During the reporting period, the company conducted transactions with the aforementioned related parties within the estimated limits[192](index=192&type=chunk) [Explanation of Progress in Use of Raised Funds](index=69&type=section&id=十二、募集资金使用进展说明) The overall utilization of the company's raised funds shows a cumulative investment progress of 80.65% as of the end of the reporting period, with the company having transferred surplus raised funds to general accounts and extended the implementation period for some investment projects, also utilizing idle raised funds for cash management Overall Use of Raised Funds | Indicator | Total Raised Funds (1) | Committed Investment Amount of Raised Funds (2) | Cumulative Raised Funds Invested as of Period End (4) | Cumulative Investment Progress of Raised Funds (%) (6)=(4)/(1) | | :--- | :--- | :--- | :--- | :--- | | Initial Public Offering | 1,239.631 million yuan | 1,157.34 million yuan | 933.3601 million yuan | 80.65% | - The company has transferred surplus raised funds to general accounts and **extended the implementation period for the "3D Vision Sensing Technology R&D Project"**[201](index=201&type=chunk) - The company manages idle raised funds for cash, with an approved limit of **360 million yuan**[204](index=204&type=chunk) [Share Changes and Shareholder Information](index=72&type=section&id=第六节%20股份变动及股东情况) This section discloses the company's share capital changes, total number of shareholders, top ten shareholders' holdings, and the setup and changes of special voting rights shares, noting an increase of 1,098,840 shares due to equity incentive vesting during the reporting period, bringing the total share capital to 401,099,840 shares, and slight adjustments in the proportion of special voting rights held by controlling shareholder Huang Yuanhao due to share repurchases and incentive vesting [Share Capital Change Information](index=72&type=section&id=一、股本变动情况) During the reporting period, the company's total shares increased by 1,098,840 shares due to the vesting of the second vesting period of the initial grant of the 2022 Restricted Stock Incentive Plan, leading to a slight decrease in the proportion of restricted shares and an increase in the proportion of unrestricted tradable shares Share Change Information | Category | Quantity Before Change | Proportion Before Change (%) | Increase/Decrease (+,-) | Quantity After Change | Proportion After Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 142,936,200 | 35.73 | 0 | 142,936,200 | 35.64 | | II. Unrestricted Tradable Shares | 257,064,800 | 64.27 | +1,098,840 | 258,163,640 | 64.36 | | **III. Total Shares** | **400,001,000** | **100.00** | **+1,098,840** | **401,099,840** | **100.00** | - Reason for share change: Vesting of the second vesting period of the initial grant of the **2022 Restricted Stock Incentive Plan**, adding **1,098,840 shares**[208](index=208&type=chunk) - After the reporting period, **34,032,240 restricted shares** from the initial public offering became tradable starting July 7, 2025[210](index=210&type=chunk) [Shareholder Information](index=73&type=section&id=二、股东情况) As of the end of the reporting period, the company had 20,035 common shareholders, with this section disclosing the shareholdings of the top ten shareholders and top ten unrestricted shareholders, showing controlling shareholder Huang Yuanhao holding 27.15% - Total number of common shareholders as of the end of the reporting period: **20,035 households**[211](index=211&type=chunk) Top Ten Shareholders' Holdings | Shareholder Name | Period-end Shareholding (shares) | Proportion (%) | Restricted Shares Held (shares) | Shareholder Nature | | :--- | :--- | :--- | :--- | :--- | | Huang Yuanhao | 108,903,960 | 27.15 | 108,903,960 | Domestic Natural Person | | Shanghai Yunxin Venture Capital Co., Ltd. | 36,822,120 | 9.18 | 0 | Domestic Non-State-Owned Legal Person | | Zhou Guangda | 26,968,320 | 6.72 | 0 | Domestic Natural Person | | Zhuhai Orbbec Zhongxin Investment Partnership (Limited Partnership) | 22,407,480 | 5.59 | 22,407,480 | Other | - Mr. Huang Yuanhao serves as the executive partner of Orbbec Zhongxin, indicating a **related-party relationship**[215](index=215&type=chunk) [Information on Directors, Senior Management, and Core Technical Personnel](index=77&type=section&id=三、董事、高级管理人员和核心技术人员情况) Discloses the changes in shareholdings of the company's directors, senior management, and core technical personnel, with Chen Bin, Zhang Dingjun, and Jin Shang acquiring new shares due to equity incentive vesting Changes in Shareholdings of Directors, Senior Management, and Core Technical Personnel | Name | Position | Beginning Shareholding (shares) | Ending Shareholding (shares) | Change in Shares During Reporting Period | Reason for Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Huang Yuanhao | Chairman, General Manager, Core Technical Personnel | 108,903,960 | 108,903,960 | 0 | | | Xiao Zhenzhong | Director, CTO, Core Technical Personnel | 9,603,000 | 9,603,000 | 0 | | | Chen Bin | Director, CFO | 0 | 24,000 | +24,000 | Equity incentive vesting | | Zhang Dingjun | Employee Representative Director | 0 | 31,200 | +31,200 | Equity incentive vesting | | Jin Shang | Board Secretary | 0 | 19,200 | +19,200 | Equity incentive vesting | - Mr. Chen Bin newly joined the employee stock ownership platforms Orbbec Zhongxin and Orbbec Yaoguang[222](index=222&type=chunk) [Special Voting Rights Shares Information](index=78&type=section&id=六、特别表决权股份情况) Details the company's special voting rights share arrangements, including voting power ratio, holders, scope of shareholder meeting matters, lock-up arrangements, and transfer restrictions, noting that controlling shareholder Huang Yuanhao holds 82,467,848 special voting rights shares, each with 5 times the voting power of ordinary shares, and that the number and proportion of special voting rights held by Huang Yuanhao slightly changed during the reporting period due to share repurchases and incentive vesting - Voting power ratio of special voting rights shares to ordinary shares: Each special voting rights share has **5 times the voting power of an ordinary share**[224](index=224&type=chunk)[229](index=229&type=chunk) - Holder of special voting rights: **Huang Yuanhao**, holding **82,467,848 special voting rights shares**[225](index=225&type=chunk)[228](index=228&type=chunk) - Special voting rights shares **cannot be additionally issued, nor traded in the secondary market**, but will be converted to ordinary shares under specific circumstances (e.g., holder disqualification, transfer, change of control)[225](index=225&type=chunk)[226](index=226&type=chunk)[227](index=227&type=chunk) - During the reporting period, a total of **83,550 special voting rights shares held by Huang Yuanhao were converted to ordinary shares** to maintain the special voting rights ratio at no higher than 56.62%[230](index=230&type=chunk) Voting Rights Status Before and After Repurchase, Conversion, and Incentive Vesting | Share Category | Holder Name | Shares Held (shares) | Voting Rights Per Share | Total Voting Rights (shares) | Voting Rights Proportion | | :--- | :--- | :--- | :--- | :--- | :--- | | **Before Repurchase, Conversion, and Incentive Vesting** | | | | | | | Class A Shares | Huang Yuanhao | 82,551,398 | 5 | 412,756,990 | 56.62% | | Class B Shares | Huang Yuanhao and other shareholders | 316,248,631 | 1 | 316,248,631 | 43.38% | | Company Repurchase Account | | 1,200,971 | 0 | 0 | 0.00% | | **Total** | | **400,001,000** | **-** | **729,005,621** | **100.00%** | | **After Repurchase, Conversion, and Incentive Vesting** | | | | | | | Class A Shares | Huang Yuanhao | 82,467,848 | 5 | 412,339,240 | 56.53% | | Class B Shares | Huang Yuanhao and other shareholders | 317,027,399 | 1 | 317,027,399 | 43.47% | | Company Repurchase Account | | 1,604,593 | 0 | 0 | 0.00% | | **Total** | | **401,099,840** | **-** | **729,366,639** | **100.00%** | [Bond-Related Information](index=82&type=section&id=第七节%20债券相关情况) This section states that the company has no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments, nor any convertible corporate bonds - The company has **no corporate bonds** (including enterprise bonds) or non-financial enterprise debt financing instruments[234](index=234&type=chunk) - The company has **no convertible corporate bonds**[234](index=234&type=chunk) [Financial Report](index=83&type=section&id=第八节%20财务报告) This section contains the company's unaudited consolidated and parent company financial statements, including the balance sheet, income statement, cash flow statement, and statement of changes in owners' equity, along with notes to the financial statements, which truly and completely reflect the company's financial position and operating results for the first half of 2025 [Audit Report](index=83&type=section&id=一、审计报告) This semi-annual report is unaudited - This semi-annual report is **unaudited**[5](index=5&type=chunk) [Financial Statements](index=83&type=section&id=二、财务报表) Provides the company's consolidated and parent company balance sheets as of June 30, 2025, consolidated and parent company income statements for January-June 2025, consolidated and parent company cash flow statements, and consolidated and parent company statements of changes in owners' equity Consolidated Balance Sheet (June 30, 2025) | Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Current Assets | 1,463,198,457.42 | 1,429,460,907.69 | | Total Non-current Assets | 1,863,862,648.04 | 1,899,529,953.84 | | **Total Assets** | **3,327,061,105.46** | **3,328,990,861.53** | | Total Current Liabilities | 344,446,641.65 | 403,233,253.57 | | Total Non-current Liabilities | 44,189,590.16 | 51,477,545.73 | | **Total Liabilities** | **388,636,231.81** | **454,710,799.30** | | Total Equity Attributable to Parent Company Owners | 2,932,076,738.45 | 2,867,303,020.47 | | Minority Interests | 6,348,135.20 | 6,977,041.76 | | **Total Owners' Equity** | **2,938,424,873.65** | **2,874,280,062.23** | Consolidated Income Statement (Jan-Jun 2025) | Item | 2025 H1 | 2024 H1 | | :--- | :--- | :--- | | Total Operating Revenue | 435,469,288.84 | 213,315,786.16 | | Total Operating Costs | 424,331,798.85 | 290,182,486.92 | | Operating Profit | 51,896,143.79 | -50,902,019.26 | | Total Profit | 51,857,544.15 | -51,981,303.30 | | Net Profit | 59,673,430.55 | -51,991,453.74 | | Net Profit Attributable to Parent Company Shareholders | 60,190,103.28 | -53,373,140.62 | | Basic Earnings Per Share (yuan/share) | 0.15 | -0.13 | Consolidated Cash Flow Statement (Jan-Jun 2025) | Item | 2025 H1 | 2024 H1 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 84,361,153.19 | -29,149,527.65 | | Net Cash Flow from Investing Activities | -29,365,865.85 | -329,457,864.80 | | Net Cash Flow from Financing Activities | -44,912,992.99 | -90,091,414.32 | | Net Increase in Cash and Cash Equivalents | 9,886,471.59 | -448,228,410.34 | [Company Basic Information](index=105&type=section&id=三、公司基本情况) Introduces Orbbec Group Co., Ltd.'s establishment background, registered capital, stock listing status, and main business, noting its establishment in 2013 and listing on the Shanghai Stock Exchange STAR Market on July 7, 2022, with its main business being the design, R&D, production, and sales of 3D vision sensing products - Company established on **January 18, 2013**[269](index=269&type=chunk) - Company shares listed on the **Shanghai Stock Exchange STAR Market on July 7, 2022**[269](index=269&type=chunk) - Main business: **Design, R&D, production, and sales of 3D vision sensing products**[269](index=269&type=chunk) [Basis of Financial Statement Preparation](index=105&type=section&id=四、财务报表的编制基础) The company's financial statements are prepared on a going concern basis, and there are no matters or circumstances that raise significant doubts about its ability to continue as a going concern for the 12 months from the end of the reporting period - Financial statements are prepared on a **going concern basis**[270](index=270&type=chunk) - No matters exist that raise significant doubts about the ability to continue as a going concern[271](index=271&type=chunk) [Significant Accounting Policies and Estimates](index=105&type=section&id=五、重要会计政策及会计估计) Details the company's statement of compliance with enterprise accounting standards, accounting period, operating cycle, functional currency, materiality criteria, business combinations, consolidated financial statement preparation, cash and cash equivalents, foreign currency transactions and translation of foreign currency financial statements, financial instruments, notes receivable, accounts receivable, other receivables, inventories, long-term equity investments, fixed assets, construction in progress, borrowing costs, intangible assets, impairment of long-term assets, long-term deferred expenses, contract liabilities, employee compensation, share-based payments, revenue, contract costs, government grants, deferred income tax assets/liabilities, leases, and segment reporting, among other significant accounting policies and estimates - Complies with enterprise accounting standards, truly and completely reflecting financial position[273](index=273&type=chunk) - Financial assets are classified into three categories: **measured at amortized cost, measured at fair value through other comprehensive income, and measured at fair value through profit or loss**[283](index=283&type=chunk) - Loss provisions for accounts receivable and contract assets are measured at an amount equal to the **expected credit losses over the entire lifetime**[290](index=290&type=chunk) - Inventories are measured at the **lower of cost and net realizable value**, with provision for inventory impairment[304](index=304&type=chunk) - Revenue recognition principle: Identify single performance obligations, determine whether they are satisfied over time or at a point in time, and recognize revenue based on the progress of satisfaction or when the customer obtains control[335](index=335&type=chunk)[336](index=336&type=chunk) - R&D expenditures are classified as either expensed or capitalized; expensed R&D is recognized in current profit or loss, while capitalized R&D is recognized as intangible assets if specific conditions are met[322](index=322&type=chunk)[323](index=323&type=chunk) [Taxation](index=121&type=section&id=六、税项) Discloses the company's main tax types and rates, including VAT, property tax, urban maintenance and construction tax, education surcharge, local education surcharge, land use tax, and corporate income tax, noting that the company and some subsidiaries enjoy VAT immediate refund for high-tech enterprises, VAT additional deduction, and corporate income tax preferential policies Main Tax Types and Rates | Tax Type | Rate | | :--- | :--- | | VAT | 13%, 6%, 3% | | Property Tax | 1.2%, 12% | | Urban Maintenance and Construction Tax | 7%, 5% | | Education Surcharge | 3% | | Local Education Surcharge | 2% | | Land Use Tax | 3 yuan/sqm, 4 yuan/sqm | | Corporate Income Tax | 8.25%, 8.50%, 15%, 20%, 27% | - The company and Mario Technology, Xintuo Shenzhen enjoy **VAT immediate refund policy for software product sales**[353](index=353&type=chunk) - The company and Xintuo Shenzhen enjoy **VAT additional deduction policy for advanced manufacturing enterprises**[353](index=353&type=chunk) - The company, Mario Technology, Shenzhen Xintuo, Orbbec Vision, Shanghai Aocheng, as high-tech enterprises, pay corporate income tax at a **15% rate**[353](index=353&type=chunk)[354](index=354&type=chunk) - Some of the company's subsidiaries enjoy a policy where small and micro-profit enterprises calculate taxable income at **25% and pay corporate income tax at a 20% rate**[354](index=354&type=chunk) - The company's newly constructed buildings enjoy a **three-year exemption from property tax**[355](index=355&type=chunk) [Notes to Consolidated Financial Statement Items](index=123&type=section&id=七、合并财务报表项目注释) Provides detailed notes for each item in the consolidated financial statements, including monetary funds, trading financial assets, notes receivable, accounts receivable, other receivables, inventories, debt investments, long-term equity investments, other equity instrument investments, fixed assets, construction in progress, right-of-use assets, intangible assets, goodwill, long-term deferred expenses, deferred income tax assets/liabilities, other non-current assets, assets restricted in ownership or use, short-term borrowings, notes payable, accounts payable, contract liabilities, employee compensation payable, taxes payable, other payables, non-current liabilities due within one year, other current liabilities, lease liabilities, deferred income, share capital, capital reserves, treasury stock, other comprehensive income, retained earnings, operating revenue and cost of goods sold, taxes and surcharges, selling expenses, administrative expenses, R&D expenses, financial expenses, other income, investment income, fair value change gains, asset disposal gains, credit impairment losses, asset impairment losses, non-operating income, non-operating expenses, income tax expenses, other comprehensive income, cash flow statement items, and foreign currency monetary items - Period-end balance of monetary funds is **595.96442515 million yuan**, of which **21.72678897 million yuan is held overseas**[357](index=357&type=chunk) - Period-end balance of trading financial assets is **430.54028867 million yuan**, primarily structured deposits and wealth management products[358](index=358&type=chunk) - Period-end book value of accounts receivable is **88.80998204 million yuan**, with bad debt provision of **9.97669899 million yuan**[370](index=370&type=chunk)[371](index=371&type=chunk) - Period-end book value of inventories is **210.55910771 million yuan**, with inventory impairment provision of **30.32173185 million yuan**[389](index=389&type=chunk)[391](index=391&type=chunk) - Period-end book value of fixed assets is **390.43802453 million yuan**, with **61.78862453 million yuan transferred from construction in progress to fixed assets** in the current period[408](index=408&type=chunk)[409](index=409&type=chunk) - Period-end book value of construction in progress is **44.82092830 million yuan**, primarily for the 3D Vision Sensing Industry Intelligent Manufacturing Base project[412](index=412&type=chunk)[414](index=414&type=chunk) - Period-end balance of short-term borrowings is **131.48758867 million yuan**, primarily credit borrowings and bill discounting[440](index=440&type=chunk) - Operating revenue is **435.46928884 million yuan**, operating cost is **255.74194930 million yuan**, with a high proportion of main business revenue[483](index=483&type=chunk) - R&D expenses are **91.18074839 million yuan**, primarily employee compensation and share-based payments[491](index=491&type=chunk) - Net cash flow from operating activities is **84.36115319 million yuan**, net cash flow from investing activities is **-29.36586585 million yuan**, and net cash flow from financing activities is **-44.91299299 million yuan**[252](index=252&type=chunk) [R&D Expenses](index=171&type=section&id=八、研发支出) Details the company's R&D expenses for the first half of 2025 by nature of expense, totaling 91.1807 million yuan, primarily composed of employee compensation, share-based payments, depreciation and amortization, and material inputs, all classified as expensed R&D expenditures R&D Expenses by Nature of Expense | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Employee Compensation | 67,047,974.67 | 65,993,708.17 | | Share-based Payment | 4,856,334.58 | 15,184,136.62 | | Depreciation and Amortization | 11,058,235.44 | 12,469,046.75 | | Material Inputs | 4,565,004.79 | 5,216,421.33 | | **Total** | **91,180,748.39** | **106,049,656.44** | | Of which: Expensed R&D Expenditures | 91,180,748.39 | 106,049,656.44 | [Changes in Consolidation Scope](index=172&type=section&id=九、合并范围的变更) During the reporting period, the company's consolidation scope decreased primarily due to the deregistration of subsidiary Mario Software, with no non-same-control business combinations, same-control business combinations, reverse acquisitions, or loss of control over subsidiaries occurring - Consolidation scope decreased: **Deregistration of subsidiary Mario Software**[534](index=534&type=chunk) [Interests in Other Entities](index=174&type=section&id=十、在其他主体中的权益) Discloses the composition of the company's enterprise group, including major subsidiaries such as Shanghai Aocheng, Mario Technology, and Xintuo Shenzhen, as well as associates like Shanghai Yuemian and Shanghai Luye, noting that the company holds 100% equity in most subsidiaries and accounts for associates using the equity method Enterprise Group Composition (Partial Subsidiaries) | Subsidiary Name | Main Operating Location | Registered Capital | Shareholding (%) | Acquisition Method | | :--- | :--- | :--- | :--- | :--- | | Shanghai Aocheng | Shanghai | 60.00 million yuan | 100.00 (Direct) | Establishment | | Mario Technology | Shenzhen | 20.00 million yuan | 100.00 (Direct) | Establishment | | Xintuo Shenzhen | Shenzhen | 25.00 million yuan | 60.00 (Indirect) | Business combination not under common control | | Foshan Orbbec Rising | Shunde | 31.00 million yuan | 100.00 (Direct) | Establishment | | Orbbec US | US | 60,000.00 USD | 100.00 (Direct) | Establishment | - Associates: **Shanghai Yuemian (21.1129% shareholding)**, **Shanghai Luye (49% shareholding)**[567](index=567&type=chunk) - Summary financial information for insignificant associates: Total book value of investments **17.26639288 million yuan**, net profit **0.64083258 million yuan**[541](index=541&type=chunk) [Government Grants](index=177&type=section&id=十一、政府补助) Discloses that the company's total government grants recognized in profit or loss for the reporting period amounted to 15.89444683 million yuan, comprising 4.36367507 million yuan related to asse