Orbbec (SH:688322) Xin Lang Cai Jing·2025-07-03 06:49Group 1 - The company reported a revenue of 363 million yuan for January to May 2025, representing a year-on-year increase of 117.18%, with a net profit attributable to shareholders of 55 million yuan, an increase of 86.44 million yuan year-on-year [1] - In Q1 2025, the company achieved a revenue of 191 million yuan, up 105.63% year-on-year, and a net profit of 24.32 million yuan, an increase of 53.10 million yuan year-on-year, with a net profit margin of 12.7% [1] - The company is a key global supplier of 3D vision sensors, focusing on 3D vision technology research and development, with applications in biometric recognition, 3D scanning, and robotics [1] Group 2 - The company has established partnerships with several domestic and international service robot clients, including Yunji Technology and LionsBot, and has integrated its 3D cameras with NVIDIA's robotics platform [2] - The company has completed the development of five generations of depth engine chips and multiple iToF and dToF light-sensitive chips as of mid-2024 [2] Group 3 - The company has raised its revenue forecast for 2025/26 from 960 million/1.16 billion yuan to 1.02 billion/1.28 billion yuan, and net profit forecast from 60 million/100 million yuan to 110 million/190 million yuan, with a new forecast for 2027 of 1.53 billion yuan in revenue and 290 million yuan in net profit [3] - The average price-to-sales (PS) ratio of comparable companies is 29X, which is 22% higher than the company's PS of 24X, leading to an upgraded rating to "Buy" [3]