责任编辑：小浪快报 资料显示，厦门思泰克智能科技股份有限公司位于福建省厦门火炬高新区同翔高新城市头东一路273 号，成立日期2010年11月15日，上市日期2023年11月28日，公司主营业务涉及机器视觉检测设备的研 发、生产、销售及增值服务。主营业务收入构成为：锡膏印刷检测设备71.28%，自动光学检测设备 20.19%，其他8.53%。 截至6月30日，思泰克股东户数1.67万，较上期增加6.20%；人均流通股2858股，较上期减少5.84%。 2025年1月-6月，思泰克实现营业收入1.89亿元，同比增长40.23%；归母净利润4475.81万元，同比增长 36.61%。 分红方面，思泰克A股上市后累计派现1.28亿元。 9月23日，思泰克跌0.78%，成交额2.20亿元。两融数据显示，当日思泰克获融资买入额1900.62万元， 融资偿还2102.07万元，融资净买入-201.45万元。截至9月23日，思泰克融资融券余额合计1.64亿元。 融资方面，思泰克当日融资买入1900.62万元。当前融资余额1.64亿元，占流通市值的6.27%，融资余额 超过近一年60%分位水平，处于较高位。 融券方面，思泰克9 ...

Core Insights - The company has achieved significant progress in domestic substitution with its core products 3DSPI and 3DAOI, utilizing self-developed hardware and software [2] - The company's overseas revenue is minimal, accounting for 0.69% in 2023 and projected to rise to 2.66% in 2024, with no exports to the U.S., thus unaffected by U.S. tariff policies [2] - The company reported a year-on-year revenue growth of 22.51% and a net profit growth of 25.98% in Q1 2025, with a non-recurring net profit increase of 40.08% [2] Market Competition and Product Strategy - The company has established a significant advantage in the 3D machine vision inspection field, maintaining a leading market share due to over a decade of technological accumulation [2] - To enhance brand influence, the company combines online and offline strategies, participating in domestic and international exhibitions and utilizing social media platforms like Douyin and WeChat [2] - The company’s R&D expenses are projected to account for 10.3% of revenue in 2024, with a total of 86 intellectual property rights obtained, including 9 invention patents [3] Product Development and Profitability - The company launched a new optical inspection device addressing semiconductor packaging challenges and is accelerating the development of online X-Ray inspection equipment (AXI) to fill the gap in high-end domestic equipment [3] - The gross margins for core products 3DSPI and 3DAOI are stable at 51.4% and 56.15%, respectively, with overall gross margins exceeding 50% over the past three years [3] - Future profitability will be driven by technological upgrades and supply chain optimization [3] Market Expansion and Share Buyback - The company has established subsidiaries in Hong Kong and Singapore, planning to gradually expand overseas while solidifying its domestic market presence [3] - Although overseas revenue is currently below 3%, the company aims to enhance its international brand influence [3] - As of April 2025, the company has repurchased 677,000 shares for a total amount of approximately 21.9 million yuan, with plans to continue based on market conditions [3]

Market Position and Performance - The company maintains a leading position in the 3D machine vision detection market, particularly with its core products: 3D Solder Paste Inspection (3D SPI) and 3D Automated Optical Inspection (3D AOI) [2][4] - In Q1 2025, the company reported a year-on-year revenue growth of 22.51%, net profit growth of 25.98%, and a 40.08% increase in net profit after deducting non-recurring items [4][5] Brand Influence and Marketing Strategies - The company participates in various domestic and international exhibitions to enhance brand influence, including the 2024 Munich Shanghai Electronics Production Equipment Exhibition and the 2024 China International Electronics Production Equipment Exhibition [3] - An online marketing team leverages platforms like Douyin and WeChat to broaden promotional channels and improve brand visibility [3] Research and Development - R&D expenses as a percentage of revenue were 7.02% in 2023, 10.3% in 2024, and 9.50% in Q1 2025, indicating a consistent increase in investment [6] - The company has developed 86 intellectual property rights, including 9 invention patents, and launched a new product, the third optical inspection device, in 2024 [6][7] Strategic Planning for 2025 - The company plans to focus on innovation, product upgrades, market expansion, talent acquisition, and capital empowerment to enhance its competitive edge [7][15] - Key strategies include strengthening R&D in critical technologies, expanding the 3D AOI market share, and optimizing the marketing network for both domestic and international markets [7][15] Financial Health and Shareholder Engagement - As of April 30, 2025, the company has repurchased 677,049 shares, accounting for 0.66% of the total share capital, with a total expenditure of approximately RMB 21.9 million [14] - The company aims to improve investor relations and explore acquisition opportunities to enhance resource integration and business expansion [15][16] Customer Concentration and Risk Management - The top five customers accounted for 17.50% of the total annual sales, which is considered a reasonable level of customer concentration [8] - Future plans include enhancing the synergy between different machine vision products and expanding partnerships with key industries such as semiconductors and communications [8][9]