Group 1: Drone Industry Insights - The optical module for drones is continuously upgrading, with laser radar showing promising prospects. Different levels of drones have varying numbers of camera modules, with flagship drones typically equipped with about 3 camera modules, mid-range with about 2, and entry-level with about 1. For visual modules, flagship drones usually have around 9, mid-range about 5, and entry-level about 3. In addition to optical modules, the company also provides laser radar for drones, which offers perception and obstacle avoidance functions, with each drone typically configured with 1-2 laser radars. The global aerial drone market size is approximately $7.1 billion in 2023, expected to reach $12.2 billion by 2030. The drone market is increasingly utilized in agriculture, construction, energy, and logistics for tasks such as crop monitoring, site inspection, delivery services, and asset management, with a projected CAGR of over 10% from 2024 to 2032, reaching a market size of $78.5 billion by 2032 [1]. Group 2: Handheld Imaging Devices - The popularity of handheld imaging devices is rising, leading to new growth. The global action camera market size is $31.44 billion in 2023, expected to reach $51.35 billion by 2027, with a CAGR of 13.0%. The global panoramic camera market size is $5.03 billion in 2023, projected to reach $7.85 billion by 2027, with a CAGR of 11.8%. The cameras in handheld imaging devices are transitioning from single-lens to dual-lens, enhancing telephoto shooting effects and evolving from traditional ultra-wide-angle modules to panoramic modules, facilitating "one shot, infinite composition, AI one-click production." The global shipment of handheld devices/action cameras is expected to grow from 49.98 million units in 2024 to 85.87 million units by 2029, with the company positioned as a core supplier of camera modules for the leading consumer drone and action camera brand, likely benefiting from the rapid growth in handheld imaging device shipments [2]. Group 3: Robotics and AI Integration - The company collaborates with Nanjing Chip Vision and Digua Robotics to innovate a dual-eye RGB-D perception positioning module, advancing the industrialization of embodied intelligence. In the context of AI-driven robotics moving towards the "embodied intelligence" era, the company has launched a dual-eye RGB-dToF fusion perception solution to upgrade the perception capabilities of embodied robots. This solution addresses the limitations of single sensors in complex and variable work environments, combining the advantages of RGB color image feature recognition with the precise detection capabilities of dToF. The core innovation lies in using large models for multi-modal data fusion, achieving high-precision perception with an accuracy error of ≤1% in a range of 0.1 to 10 meters, effectively overcoming challenges posed by highly reflective objects and near-distance detection. This initiative marks a significant breakthrough in the company's entry into the embodied robotics field and is expected to help embodied robots transition from "functional" to "intelligent" types, with the global embodied intelligence robot market projected to exceed $60 billion by 2025 [3]. Group 4: Financial Projections - The company is expected to achieve revenues of 20.6 billion, 23.5 billion, and 26.7 billion yuan in 2025, 2026, and 2027 respectively, with net profits attributable to the parent company of 768 million, 1.051 billion, and 1.230 billion yuan for the same years, maintaining a "buy" rating [4].
丘钛科技(1478.HK)：无人机 手持影像等新兴领域高速增长