（编辑 丛可心） 证券日报网讯 12月29日，奥比中光在互动平台回答投资者提问时表示，2025年上半年，公司实现直接 境外收入3434.19万元人民币，毛利率达56.47%。近年来，公司陆续接入苹果macOS、英伟达Isaac与 Jetson、英特尔等国际主流生态平台，推动产品与解决方案在海外市场的覆盖广度、技术深度与整体竞 争力持续提升，品牌海外影响力显著增强。据第三方数据，公司2024年在韩国商用及工业移动机器人 3D视觉市场中位列第一，市场份额达到约72%。展望未来，公司将持续发挥海外业务平台与品牌优 势，积极拓展国际业务，不断提升海外市场渗透力与品牌影响力。 ...

Core Insights - Shenzhen has successfully listed 121 companies within ten years of their establishment, outperforming the national average, highlighting the region's favorable business environment [1][9] - The article emphasizes Shenzhen's innovative policies and supportive ecosystem that facilitate startups in overcoming challenges and achieving growth [1][9] Group 1: Young Listed Companies - Shenzhen has produced a significant number of "young listed companies," with 121 firms achieving IPO status in under ten years, including notable names like BYD and Dazong Laser [1][3][10] - The majority of these companies are leaders in niche markets, with many being the first in their respective industries, such as the "first stock" in various sectors [3][11] Group 2: Innovation and Resource Transformation - The success of these young companies is attributed to Shenzhen's "20+8" industrial cluster, which focuses on strategic emerging industries and future industries [3][12] - Shenzhen has cultivated a large group of innovative enterprises, resulting in a robust pipeline of resources for public listings, with 347 new specialized "little giant" companies added this year [3][12] Group 3: Government Support and Policies - The Shenzhen government has implemented various supportive policies to encourage company listings, creating a nurturing environment for startups and growth-stage companies [5][13] - The city has established a comprehensive system to support businesses at different stages, from incubation to public listing, with a focus on private enterprises [5][13] Group 4: Financial Ecosystem - Shenzhen's financial ecosystem is characterized by a multi-layered and specialized capital structure, with over 1.5 trillion yuan in private equity and venture capital funds [7][15] - The city hosts regular events like "Shenzhen Venture Capital Day" to connect innovative companies with global capital, facilitating significant funding agreements [7][15] Group 5: Capital and Investment Strategies - The local government has established investment funds that have mobilized nearly 500 billion yuan, contributing to the listing of around 600 companies [8][16] - Shenzhen aims to create a "double ten thousand" framework by 2026, targeting a substantial increase in the number of investment funds and promoting early-stage investments in technology [8][16]

121家企业不满10岁即上市：深圳上市公司何以"少年感"十足? 作者：秦新安 ▪ 郑栩彤 上周(12月1日至5日)，深圳企业再掀上市高潮，仅港股市场就有7家深圳科创企业集中递表。其中，乐 动机器人、曦华科技、基本半导体皆为不满10岁的"15后"公司，拟冲刺"A+H"上市的"非洲之王"传音控 股(688036.SH)也只有12岁(A股上市时为6岁)。 事实上，近年来深圳产生了一大批"少年上市公司"。官方统计数据显示，截至目前，深圳已有121家企 业在成立不到十年时就成功上市，包括A股87家、港股34家。其中不乏比亚迪(002594.SZ，01211.HK)、 大族激光(002008.SZ)、影石创新(688775.SH)、奥比中光(688322.SH)、越疆机器人(02432.HK)等知名企 业。 深圳何以盛产年轻生猛的"少年上市公司"？第一财经记者多方采访发现，这与深圳多年积累形成的创新 资源红利转化、政策持续托举及金融资本助推分不开。 一位区域经济研究专家对记者分析，作为经济特区和改革创新之城，深圳长期致力于发展高科技产业， 吸聚了大量创新人才和创业企业，构筑起庞大的上市资源"塔底"；深圳政府一贯重视扶持企 ...

2025.12. 08 本文字数：3896，阅读时长大约7分钟 作者 | 第一财经 秦新安 郑栩彤 上周（12月1日至5日），深圳企业再掀上市高潮，仅港股市场就有7家深圳科创企业集中递表。其 中，乐动机器人、曦华科技、基本半导体皆为不满10岁的"15后"公司，拟冲刺"A+H"上市的"非洲之 王"传音控股（688036.SH）也只有12岁（A股上市时为6岁）。 事实上，近年来深圳产生了一大批"少年上市公司"。官方统计数据显示，截至目前，深圳已有121家 企业在成立不到十年时就成功上市，包括A股87家、港股34家。其中不乏比亚迪（002594.SZ， 01211.HK）、大族激光（002008.SZ）、影石创新（688775.SH）、奥比中光（688322.SH）、 越疆机器人（02432.HK）等知名企业。 深圳何以盛产年轻生猛的上市"少年兵"？第一财经记者多方采访发现，这与深圳多年积累形成的创新 资源红利转化、政策持续托举及金融资本助推分不开。 一位区域经济研究专家对记者分析，作为经济特区和改革创新之城，深圳长期致力于发展高科技产 业，吸聚了大量创新人才和创业企业，构筑起庞大的上市资源"塔底"；深圳政府一贯重 ...

这与深圳创新资源红利转化、政策持续托举及金融资本助推分不开 上周（12月1日至5日），深圳企业再掀上市高潮，仅港股市场就有7家深圳科创企业集中递表。其中， 乐动机器人、曦华科技、基本半导体皆为不满10岁的"05后"公司，拟冲刺"A+H"上市的"非洲之王"传音 控股（688036.SH）也只有12岁（A股上市时为6岁）。 事实上，近年来深圳产生了一大批"少年上市公司"。官方统计数据显示，截至目前，深圳已有121家企 业在成立不到十年时就成功上市，包括A股87家、港股34家。其中不乏比亚迪（002594.SZ， 01211.HK）、大族激光（002008.SZ）、影石创新（688775.SH）、奥比中光（688322.SH）、越疆机器 人（02432.HK）等知名企业。 深圳何以盛产年轻生猛的上市"少年兵"？第一财经记者多方采访发现，这与深圳多年积累形成的创新资 源红利转化、政策持续托举及金融资本助推分不开。 越疆机器人创始人刘培超也是从北方某市辞职南下深圳的。在深圳，他不仅拿到急需的100万元创业补 助资金，更对本地强大的供应链感到惊喜。公司创业初期需要打样，上午画完图纸，下午就可以拿到产 品，而在其他城市可能 ...

Group 1 - In 2023, Shenzhen has added 15 new domestic and overseas listed companies, including 1 on the Sci-Tech Innovation Board, 3 on the Shenzhen Stock Exchange's ChiNext, 3 on the Hong Kong Stock Exchange, 2 on the NASDAQ, and 1 on the Singapore Exchange [1] - Shenzhen has become a fertile ground for listed companies, with a total of 592 listed companies as of now, including 424 A-share listed companies [2] - The city has a robust pipeline of companies preparing for listing, with 20 companies under review and 100 companies receiving guidance domestically, and 47 companies applying for overseas listings [2] Group 2 - Shenzhen is implementing the "Starry Shenzhen" action plan to enhance the listing cultivation mechanism, conducting nearly 20 training sessions for prospective listed companies this year, with over 700 companies participating [3] - The city is optimizing listing services and reducing institutional costs, addressing various issues faced by companies during the listing process [3] - The continuous reform of the capital market has improved the listing process for innovative companies, with the ChiNext board adopting a third set of standards to support high-quality, unprofitable innovative enterprises [4][5] Group 3 - Shenzhen's leading securities firms are actively responding to capital market reforms by accelerating the identification and preparation of potential high-quality unprofitable innovative enterprises for listing [5] - Mergers and acquisitions are being utilized by Shenzhen companies to enhance operational efficiency and seek more development opportunities in the capital market [5]

Core Insights - The company reported strong performance in Q3 2025, with total revenue of 714 million yuan, a year-on-year increase of 103.5%, and a net profit attributable to shareholders of 108 million yuan [1] - The company has achieved significant cost control, with a decrease in expense ratios across various categories, leading to improved profitability [1][2] - The company is positioned as a leader in the 3D vision market, with substantial global market share and strategic partnerships enhancing its growth prospects [2][3] Financial Performance - For the first three quarters of 2025, the company achieved total revenue of 714 million yuan, a 103.5% increase year-on-year, and a net profit of 108 million yuan [1] - In Q3 alone, the company generated revenue of 279 million yuan, up 102.49% year-on-year, with a net profit of 48 million yuan [1] - The company’s expense ratio for the first three quarters was 36.08%, down 35.18 percentage points year-on-year, indicating effective cost management [1] Profitability Metrics - The gross profit margin for the first three quarters was 42.80%, a decrease of 1.19 percentage points year-on-year, while the net profit margin increased by 32% to 15.08% [1] - The company’s R&D expense ratio was 20.52%, down 23.18 percentage points year-on-year, reflecting improved R&D efficiency [1] Market Position and Strategic Initiatives - The company holds a 72% market share in the 3D vision market for commercial and industrial mobile robots in South Korea, significantly reducing logistics costs for local enterprises [2] - Strategic partnerships have been established with leading robotics companies in Japan and collaborations in the humanoid robot sector, enhancing the company's technological capabilities [2] - The company has launched flagship 3D scanners and joined the Intel Partner Alliance, expanding its global developer ecosystem [2] Future Outlook - The company has adjusted its profit forecasts upward, expecting revenues of 936 million yuan, 1.476 billion yuan, and 1.898 billion yuan for 2025E, 2026E, and 2027E respectively, with year-on-year growth rates of 65.9%, 57.6%, and 28.6% [2] - Net profits are projected to reach 148 million yuan, 326 million yuan, and 467 million yuan for the same years, with year-on-year growth rates of 335.0%, 120.4%, and 43.4% [2][3]

Core Viewpoint - Tianzhun Technology is recognized as one of the leading companies in the domestic 3D vision sector, with a focus on applying 3D vision technology for quality control in industrial components [1] Company Summary - Tianzhun Technology actively engages with investors, providing insights into its position in the 3D vision market [1] - The company emphasizes its extensive application of 3D vision technology, particularly in the context of quality control for industrial parts [1] Industry Summary - The 3D vision technology sector is experiencing growth, with companies like Tianzhun Technology at the forefront, indicating a trend towards enhanced quality control measures in manufacturing [1]

Group 1 - The company is recognized as one of the leading enterprises in the domestic 3D vision sector [2] - The company widely applies 3D vision technology in quality control of industrial components [2]

Group 1 - The company, Tianzhun Technology, is recognized as one of the leading enterprises in the domestic 3D vision sector [1] - The application of 3D vision technology by the company is extensive, particularly in the quality control of industrial components [1]