中邮证券研报指出，奥比中光定增加速3D视觉与空间感知核心技术研发，满足机器人多元场景与消费 级向工业级拓展的三维扫描需求。"机器人AI视觉与空间感知技术研发平台项目"在公司"全栈式技术研 发能力+全领域技术路线布局"的3D视觉感知技术体系基础上，持续开展机器人视觉、AI视觉及多模态 感知、高精度三维扫描、精密制造及组装工艺等核心技术研发及攻关，为具身智能/人形机器人、三维 数字化/数字孪生、传统行业/开发者等主要行业及客户提供产品及服务，进一步深化3D视觉感知技术发 展，巩固公司在全球3D视觉感知行业中的领先地位，提升核心竞争力和市场占有率。在下游应用场景 持续发展的驱动下，未来3D视觉感知市场将不断增长，为项目顺利实施提供重要保障。维持"买入"评 级。 ...

证券研究报告：电子 | 公司点评报告 股票投资评级 公司基本情况 | 最新收盘价（元） | 91.45 | | --- | --- | | 总股本/流通股本（亿股）4.01 | / 3.19 | | 总市值/流通市值（亿元）367 | / 291 | | 52 周内最高/最低价 | 96.40 / 43.18 | | 资产负债率(%) | 13.7% | | 第一大股东 | 黄源浩 | 研究所 分析师:吴文吉 SAC 登记编号:S1340523050004 Email:wuwenji@cnpsec.com 奥比中光(688322) 定增强化 3D 视觉感知，赋能机器人与三维扫描 l 投资要点 定增加速 3D 视觉与空间感知核心技术研发，满足机器人多元 场景与消费级向工业级拓展的三维扫描需求。公司 2025 年度定增 拟募集资金总额不超过 9.8 亿元用于"机器人 AI 视觉与空间感知 技术研发平台项目"及"AI 视觉传感器与智能硬件制造基地建设项 目"，项目分别拟使用募集资金 8.58 亿元、1.22 亿元。"机器人 AI 视觉与空间感知技术研发平台项目"在公司"全栈式技术研发能力+ 全领域技术路线布局"的 ...

12月25日，奥比中光涨5.09%，截至发稿，报85.29元/股，成交6.22亿元，换手率2.56%，总市值342.14 亿元。 韩辰尧累计任职时间2年301天，现任基金资产总规模8.73亿元，任职期间最佳基金回报8.53%， 任职期 间最差基金回报-11.41%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 金元顺安成长动力灵活配置混合（620002）成立日期2008年9月3日，最新规模2816.76万。今年以来收 益26.66%，同类排名3497/8087；近一年收益25.55%，同类排名3400/8071；成立以来收益52.07%。 金元顺安成长动力灵活配置混合（620002）基金经理为孔祥鹏、韩辰尧。 截至发稿，孔祥鹏累计任职时间8年183天，现任基金资产总规模1.43亿元，任职期间最佳基金回 报-3.29%， 任职期间最差基金回报-12.41%。 资料显示，奥比中光科技集团股份有限公司位于广东省深圳市南山区西丽街道松坪山社区高新北一道88 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：688322 证券简称：奥比中光 公告编号：2025-101 奥比中光科技集团股份有限公司 关于向特定对象发行A股股票 摊薄即期回报、填补措施及相关主体承诺（二次修订稿）的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 奥比中光科技集团股份有限公司（以下简称"公司"）于2025年4月28日召开了第二届董事会第十四次会 议和第二届监事会第十三次会议，于2025年5月21日召开了2024年年度股东会，审议通过了关于公司向 特定对象发行A股股票事项（以下简称"本次发行"）的相关议案。2025年9月12日，公司召开了第二届 董事会第十八次会议，审议通过了《关于调整公司〈2025年度向特定对象发行A股股票方案〉的议案》 《关于公司〈2025年度向特定对象发行A股股票预案（修订稿）〉的议案》等相关议案。2025年12月18 日，公司召开了第二届董事会第二十三次会议，审议通过了《关于调整公司〈2025年度向特定对象发行 A股股票方案〉的议案》《关于公司〈2025年度向特定 ...

证券日报网讯12月4日，奥比中光在互动平台回答投资者提问时表示，公司自成立以来，长期专注于3D 视觉感知技术领域，全面布局结构光、iToF、双目、dToF、Lidar、工业三维测量六大3D视觉感知技术 路线，以应对不同应用场景对3D视觉感知能力的多样化需求。 ...

Core Insights - The company, Orbbec, has developed 3D visual perception technology that accurately captures three-dimensional spatial information, integrating self-developed algorithms to empower various AI smart terminals with environmental perception, intelligent interaction, and dynamic navigation capabilities [1] - Orbbec's main business includes the design, research and development, production, and sales of 3D visual perception products, with key products such as 3D visual sensors and both consumer and industrial application devices [4] - The company has established a comprehensive 3D visual perception technology system that integrates multiple complex interdisciplinary technologies, covering six major fields including structured light, iToF, dToF, stereo vision, Lidar, and industrial 3D measurement [5] Technology Development - Orbbec is one of the few companies in China that has systematically developed 3D visual perception technology and has successfully industrialized a series of deep engine digital chips and various dedicated photonic analog chips [5] - The company initiated its self-developed chip research and development plan in its second year, having completed over 10 chip tape-outs, including iToF, dToF photonic chips, and dedicated ASIC computing chips [5][6] - Orbbec emphasizes the establishment of a complete technological closed loop from underlying chip architecture, core algorithm development, integrated optical-mechanical engines to upper-layer application solutions, achieving domestic adaptation in key supply chain links [6]

Group 1: High-Quality Development in Guangdong - The core message emphasizes the importance of promoting high-quality development through deepening reform and opening up, as highlighted by Xi Jinping's recent visit to Guangdong [1] - Guangdong is recognized as a leader in reform and opening up, with a call to leverage technological and industrial transformation opportunities for coordinated urban-rural development [1] Group 2: Economic Development and Market Environment - The development of various ownership economies is crucial for supporting high-quality economic growth, with a focus on effective market and proactive government collaboration [2] - The favorable business environment in Guangdong is expected to enhance the development of various ownership economies, providing broader opportunities for local businesses [2] Group 3: Innovation and Technology - The speech indicates a clear direction for private technology enterprises, emphasizing the need for collaboration in a fair competitive environment to expand their development space [3] - Companies like Aobo Zhongguang are positioned to leverage new technological revolutions and industrial transformations, aiming for high-end positions in global supply chains [3][5] Group 4: Infrastructure and Transportation - Guangdong's transportation infrastructure is set to expand significantly during the 14th Five-Year Plan, with a focus on enhancing connectivity and building a sustainable transportation system [4] - The development of rural roads is seen as a critical component for promoting regional coordination and breaking down urban-rural divides [4] Group 5: Integration of Technology and Industry - The integration of technological innovation and industrial innovation is essential for building a competitive modern industrial system, as stated by Xi Jinping [5] - Companies like Ligon Industrial are focusing on advancing their technology and establishing a robust ecosystem in the robotics sector to enhance global competitiveness [6] Group 6: Artificial Intelligence Development - The speech outlines a clear path for the development of artificial intelligence in Guangdong, leveraging rich industry scenarios and supportive policies to enhance productivity [7] Group 7: Open Economy and Global Integration - Expanding high-level openness is deemed necessary for advancing modernization, with a focus on deepening cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area [8] - The establishment of a comprehensive service base for Chinese enterprises "going global" is a key task for Guangdong, facilitating investment and risk management [9] Group 8: Industry Transformation and Upgrading - Companies in Guangdong are actively pursuing transformation towards green, intelligent, and high-end production, contributing to local industry development [10]

Group 1 - The core point of the news is that Aobo Zhiguan's stock price has dropped by 5.05%, currently trading at 85.40 yuan per share, with a total market capitalization of 34.254 billion yuan [1] - Aobo Zhiguan Technology Group Co., Ltd. is based in Shenzhen, Guangdong, and was established on January 18, 2013, with its IPO on July 7, 2022. The company specializes in the design, research and development, production, and sales of 3D visual perception products [1] - The revenue composition of Aobo Zhiguan includes 61.83% from consumer-grade application devices, 31.35% from 3D visual sensors, 4.21% from other sources, and 2.60% from industrial-grade application devices [1] Group 2 - According to data from the top ten heavy stocks of funds, one fund under Jianxin Fund holds Aobo Zhiguan as a significant investment. Jianxin CSI 1000 Index Enhanced A (006165) held 146,600 shares in the third quarter, accounting for 0.99% of the fund's net value, ranking as the fourth-largest heavy stock [2] - The estimated floating loss for Jianxin CSI 1000 Index Enhanced A (006165) today is approximately 665,600 yuan. The fund was established on November 22, 2018, with a current scale of 740 million yuan, and has achieved a year-to-date return of 35.35% [2] - The fund manager, Ye Letian, has a cumulative tenure of 13 years and 232 days, with the best fund return during his tenure being 328.03%. The other manager, Zhao Yunyu, has a tenure of 6 years and 356 days, with a best return of 184.61% [3]

Core Viewpoint - The company, Orbbec (688322.SH), reported significant growth in its Q3 2023 financial results, achieving a revenue of 714 million yuan for the first three quarters, a year-on-year increase of 103.5%, and turning a profit with a net profit of 108 million yuan [1][4]. Financial Performance - For Q3 2023, the company recorded a revenue of 279 million yuan, up 102.49% year-on-year, and a net profit of approximately 47.83 million yuan, representing a 33.32% increase from Q2 [1][4]. - The cumulative revenue for the first nine months of 2023 exceeded the total revenue for the entire year of 2024, indicating a strong upward trend in profitability [4]. Business Growth Drivers - The growth is attributed to the continuous improvement of the upstream 3D vision perception industry chain and the accelerated expansion of downstream application scenarios, particularly in 3D scanning, payment verification, and various types of robotics [4][5]. - The company has seen a nearly 100% year-on-year growth in its domestic robotics business in the first half of the year, positioning itself as a leader in the robotics vision sector within the A-share market [5][8]. R&D and Strategic Focus - The company has significantly improved its R&D efficiency and reduced ineffective cost inputs, with an average R&D investment accounting for nearly 70% of annual revenue from 2022 to 2024 [4][5]. - Orbbec aims to enhance its capabilities in robot AI vision and spatial perception technology, with plans to raise up to 1.918 billion yuan for R&D and manufacturing projects [7][8]. Market Position and Future Outlook - The company holds over 70% market share in the 3D vision field for service robots in China and commercial and industrial mobile robots in South Korea, indicating strong competitive positioning [7][8]. - The projected market potential for humanoid robots, smart lawn mowers, and 3D printing is substantial, with estimates of 19 billion USD, 8.4 billion USD, and 4.2 billion USD respectively, suggesting a growing demand for 3D vision technology [8].

Core Viewpoint - The company, Orbbec, reported significant growth in revenue and profitability in its recent quarterly report, indicating a strong recovery and expansion in its business operations [1][2]. Financial Performance - For the first three quarters of 2025, Orbbec achieved a revenue of 714 million yuan, representing a year-on-year increase of 103.5% [1]. - The net profit attributable to shareholders reached 108 million yuan, with a non-recurring net profit of 68.57 million yuan, both showing a turnaround from losses [1]. - Quarterly revenues for the first three quarters were 191 million yuan, 244 million yuan, and 279 million yuan, with net profits of approximately 24.31 million yuan, 35.88 million yuan, and 47.83 million yuan respectively, indicating a clear acceleration in business growth [2]. Business Segments - The company's growth is primarily driven by its biometrics and AIoT sectors, with significant collaboration with ecosystem partners to develop smart terminal devices for various applications [3]. - In the AIoT sector, Orbbec has expanded into emerging business scenarios, with its robotics and 3D scanning businesses becoming key revenue contributors [3]. - The domestic robotics business saw nearly a 100% year-on-year revenue growth in the first half of the year, highlighting the increasing demand for visual sensors as robotic technology matures [3]. R&D and Manufacturing Investments - Orbbec is focusing on a strategy of "technology innovation investment to commercial results transformation," aiming to strengthen its position in the robotics and AI vision industry [4]. - The company plans to raise up to 1.918 billion yuan through a private placement to fund the development of a robotics AI vision and spatial perception technology platform, as well as a manufacturing base for AI vision sensors and smart hardware [4]. - Orbbec aims to increase its annual production capacity for 3D vision sensors and consumer-grade application devices to 5 million and 2 million units respectively within five years [4]. Market Outlook - The demand for 3D vision technology is expected to surge due to the rapid development of automated mobile robots, 3D printing, humanoid robots, robotic arms, and smart lawn mowers [5]. - The market potential for humanoid robots, smart lawn mowers, and 3D printing is projected to be 19 billion USD, 8.4 billion USD, and 4.2 billion USD respectively, with significant growth anticipated starting from the end of 2024 [6].