易思维科创板IPO在即 复合型研发力量打造机器视觉“中国方案”

Core Viewpoint - The upcoming IPO of Easy Vision (Hangzhou) Technology Co., Ltd. on November 21 is positioned to capitalize on the growing opportunities in the machine vision sector, particularly within the automotive industry and industrial automation, as the company aims to transition from a domestic leader to a global competitor in machine vision technology [1] Group 1: R&D and Talent Structure - Easy Vision has established a strong R&D foundation with a high proportion of research personnel, comprising 45.89% of total employees, and a significant number of staff holding advanced degrees, reflecting a commitment to R&D as a core driver since inception [2][3] - The company maintains a high R&D investment ratio, with expenditures representing 38.85%, 32.14%, and 30.06% of revenue from 2022 to 2024, and an increase to 48.53% in the first half of 2025, indicating a robust capability for technology accumulation and product iteration [3] Group 2: Market Penetration and Production Capacity - Easy Vision has achieved deep penetration in leading automotive manufacturers, with products utilized by major brands such as FAW-Volkswagen, SAIC Volkswagen, and BYD, demonstrating the competitiveness and reliability of its offerings [4][5] - The company employs a flexible production model that allows for rapid scaling in response to order increases, maintaining a capacity utilization rate between 72% and 90% from 2022 to 2024, with a sales-to-production ratio of 115.78% in the first half of 2025 [5] Group 3: Strategic Focus and Growth Potential - Easy Vision is pursuing a dual-line strategy focusing on automotive manufacturing and accelerating growth in rail transit maintenance, with automotive revenue projected to account for 96.68% of total income by 2024 [6] - The machine vision industry is experiencing significant growth, with the global AI-enabled industrial vision market expected to grow over 25% in 2024, and the Chinese market projected to exceed 30%, positioning Easy Vision favorably for future expansion [7] Group 4: IPO and Future Outlook - The IPO fundraising will enhance industrialization capabilities and strengthen the R&D system, with key projects including a machine vision product industrialization base and a dedicated R&D center, aimed at increasing production capacity and advancing technology [8] - Easy Vision anticipates a revenue growth of 10.25% to 15.21% and a net profit increase of 13.24% to 33.47% in 2025, driven by the release of new orders and technological advancements [8]