Investment Rating - The investment rating for the company is "Buy" with a target price not specified [6][17]. Core Viewpoints - The company has established a comprehensive 3D visual perception technology system, integrating various complex disciplines, and covers six major fields including structured light and industrial 3D measurement [1]. - The company plans to repurchase shares worth between RMB 20 million and 40 million to maintain company value and demonstrate confidence in future development [2]. - The company reported a revenue of RMB 562 million for 2024, representing a year-on-year growth of 56.16%, driven by emerging scenarios such as AIoT [3]. - The company is positioned as a leading player in the domestic robot vision sensor market, with expected revenue growth of RMB 560 million in 2024, RMB 870 million in 2025, and RMB 1.34 billion in 2026 [4]. Financial Data and Valuation - The company's revenue for 2022 was RMB 350.05 million, with a projected revenue of RMB 560.72 million for 2024, reflecting a growth rate of 55.75% [5]. - The EBITDA for 2024 is projected to be negative at RMB -62.16 million, with a significant recovery expected in subsequent years [5]. - The net profit attributable to the parent company is expected to improve from a loss of RMB 289.78 million in 2022 to a profit of RMB 270.97 million by 2026 [5]. - The company has a total market capitalization of approximately RMB 20.77 billion [7].

Investment Rating - The investment rating for the company is "Buy" with a target price expected to yield over 20% relative return within six months [6][17]. Core Insights - The company has established a comprehensive 3D visual perception technology system, integrating various complex disciplines such as optics, electronics, chip design, algorithms, SDK, and firmware development [1]. - The company plans to repurchase shares worth between RMB 20 million and 40 million to maintain company value and shareholder rights, reflecting confidence in future development [2]. - The company reported a significant revenue growth of 56.16% year-on-year, achieving an estimated revenue of RMB 562 million in 2024, driven by emerging scenarios like AIoT [3]. - The company is positioned as a leading player in the domestic robot vision sensor market, with expected revenue growth of RMB 560 million, RMB 870 million, and RMB 1.34 billion for the years 2024, 2025, and 2026 respectively [4]. Financial Data Summary - The company’s revenue for 2022 was RMB 350.05 million, with a projected increase to RMB 560.72 million in 2024, reflecting a growth rate of 55.75% [5]. - The EBITDA for 2024 is expected to be negative at RMB -62.16 million, improving to RMB 97.84 million in 2025 and RMB 318.67 million in 2026 [5]. - The net profit attributable to the parent company is projected to improve from a loss of RMB 289.78 million in 2022 to a profit of RMB 270.97 million by 2026 [5]. - The company’s total assets are estimated to be RMB 3.27 billion in 2024, with a debt ratio of 11.50% [11].