Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for future performance [4]. Core Insights - The company is expected to experience significant revenue growth, with projected revenues of approximately 1.003 billion, 1.458 billion, and 1.964 billion RMB for the years 2025, 2026, and 2027 respectively, reflecting growth rates of 77.73%, 45.29%, and 34.73% [9]. - The company has established a partnership with Intel, which is expected to enhance its market position and operational capabilities, similar to its previous collaboration with Nvidia [3]. - The demand for depth cameras is anticipated to increase due to the rising intelligence of robots, leading to higher penetration rates and market share for the company [3]. Performance Overview - For the first three quarters of 2025, the company forecasts revenues of 714 million RMB, a year-on-year increase of 103.5%, and a net profit attributable to the parent company of 107.5 million RMB, an increase of 168 million RMB year-on-year [2]. - The company is projected to turn profitable in 2025, with a net profit of 146 million RMB, followed by 330 million RMB in 2026 and 543 million RMB in 2027, indicating a turnaround from previous losses [9]. Market Position - The company is positioned to become a leader in the visual technology sector, akin to TSMC in the semiconductor industry, with collaborations from major players like Intel, Nvidia, and Horizon Robotics [3]. - The report highlights that the company's comprehensive strength is beginning to surpass that of its competitors, particularly Intel, which is expected to help maintain a high market share [3].