近日，2025年度江西省省长质量奖系列奖项获奖名单揭晓。欧菲光集团股份有限公司的子公司——南昌 欧菲光电技术有限公司凭借其制定的摄像头模组企业标准，成功荣获"江西省标准项目奖"三等奖。这一 荣誉是对该公司在标准制定与创新方面所作贡献的官方认可。 | | 2025年度江西省 | | --- | --- | | | 标准项目奖三等奖 | | 序号 | 标准项目名称 主要完成单位 | | | �碓矗分�碓矗�������� ������������� ������������ DESARIES CONSERVE STERCERY | | 9 | Q/360111OFW 001-2020 南昌欧菲光电技术有限公司 《摄像头模组》 | | | 【的城市场面化平台湾北路 工程与重要工 HG/T 4232-2011(金幅限量) 影院看看出典, (西智能影视剧剧剧) | "江西省标准项目奖"是整合升级后的江西省省长质量奖的重要组成部分，旨在表彰在标准领域取得突出 成就的项目。本届评选竞争激烈，共评出一等奖5项、二等奖10项、三等奖15项。经过评委会多轮严格 评审，最终确定了这份具有代表性的获奖名单。 欧菲光是全球光学光电领域 ...

丘钛科技 20251217 摘要 秋泰科技摄像头模组业务增长显著，尤其 3,200 万像素以下模组受益于 韩系客户合作，成为其最大供应商，虽目前集中于低端项目，但未来有 望拓展至中高端，越南工厂奠基进一步加强合作紧密度。 指纹识别模组出货量同比增长 31.3%至 1.84 亿颗，超声波指纹识别模 组占比提升至 30%以上，月均出货超 500 万颗，产品规格和数量提升 有助于提高产能利用率和盈利能力。 非手机摄像头模组业务增长迅猛，月均出货超 300 万颗，11 月创 370 万颗新高，1-11 月同比增长 111%，远超预期，上半年收入占比已达 23.9%，有望实现五年战略目标，IoT 领域核心大客户销售强劲，垂直 整合供应商地位稳固。 车载业务下半年表现突出，单月出货达七位数，改善盈利能力，与关键 客户合作紧密并获交付奖项，拓展至激光雷达产品，预计 2026 年贡献 车载业务。 垂直整合方面，新巨科技在 IoT 业务上取得突破，获北美核心客户项目 认证。实控人收购 TDK 全球马达业务预计 2026 年一季度完成，关联交 易采购金额提升，反映高端产品需求增长及终端客户认证。 Q&A 秋泰科技在手机摄像头模组 ...

手持影像设备普及度节节攀升，带来新增量 根据沙利文《全球手持智能影像设备市场发展白皮书》的数据，2023年全球运动相机市场规模为314.4 亿元，预计2027年将达到513.5亿元，CAGR为13.0%;2023年全球全景相机市场规模为50.3亿元，预计 2027年将达到78.5亿元，CAGR为11.8%。手持影像设备的摄像头由单摄向双摄转变，提升长焦拍摄效 果，由传统超广角模组向全景模组发展，从而有利于实现"一次拍摄、无限构图、AI一键成片"。根据公 司官网，全球手持设备/运动相机出货量有望从2024年的4,998万台增长至2029年8,587万台，公司作为全 球最领先的消费无人机和运动相机品牌的摄像头模组核心供应商，有望充分受益于手持影像设备出货量 的快速增长。 联合地瓜机器人与芯视界创新开发具身机器人RGBD感知定位模块，推动具身智能产业化 在AI大模型驱动机器人产业向"具身智能"时代迈进的背景下，公司联合南京芯视界、地瓜机器人共同推 出双目RGB-dToF融合感知方案，为具身机器人打造感知能力升级的行业标准解决方案。由于具身机器 人需应对复杂多变的工作环境，单一传感器存在明显局限性，比如双目RGB在低 ...

Core Viewpoint - Chlitina Technology (01478) experienced a decline of over 3%, currently trading at 8.73 HKD with a transaction volume of 22.76 million HKD [1] Sales Performance - In November, the sales volume of mobile camera modules was 38.05 million units, a month-on-month decrease of 13.6% and a year-on-year decrease of 5.6% [1] - The total sales volume of camera modules was 41.75 million units, reflecting a month-on-month decrease of 11.9% but a year-on-year increase of 0.4% [1] - The sales volume of fingerprint recognition modules totaled 17.79 million units, showing a month-on-month decrease of 3.4% and a year-on-year decrease of 8.8% [1] Factors Influencing Sales - The decrease in camera module sales volume is primarily attributed to customer project cycles and seasonal factors [1] - There was a significant year-on-year increase in sales volume for camera modules in other sectors, driven by the growing consumer preference for handheld imaging devices and the increasing number of camera modules used in smart driving solutions [1] - The sales volume of camera modules applied in the Internet of Things (IoT) and smart automotive sectors saw substantial year-on-year growth [1]

Core Viewpoint - Q Technology (01478.HK) reported its sales data for November 2025, indicating a mixed performance in its main product categories, particularly in camera modules and fingerprint recognition modules [1] Sales Performance Summary - Total camera module sales reached 41.755 million units in November, representing a month-on-month decrease of 11.9% but a year-on-year increase of 0.4% [1] - Sales of mobile camera modules amounted to 38.053 million units, showing a month-on-month decline of 13.6% and a year-on-year decrease of 5.6% [1] - Fingerprint recognition module sales totaled 17.795 million units, with a month-on-month decrease of 3.4% and a year-on-year decline of 8.8% [1] Factors Influencing Sales - The month-on-month decline in camera module sales is attributed to customer project cycles and seasonal factors [1] - Year-on-year growth in other camera module sales is driven by increasing consumer preference for handheld imaging devices and the rising number of camera modules used in smart driving solutions [1] - Significant year-on-year growth in camera module sales for IoT and smart automotive applications is noted [1]

Core Viewpoint - Lijing Innovation is set to achieve a significant IPO, driven by the success of its founder Wang Laichun and the strategic acquisitions that have positioned the company as a leader in the precision manufacturing sector [2][3]. Company Overview - Lijing Innovation, founded by Wang Laichun's brother Wang Laixi, has rapidly grown to nearly 28 billion yuan in annual revenue within seven years [2][3]. - The company has established itself as the only front camera supplier for Apple in mainland China, with over 60% of its revenue coming from this client [6][9]. Business Model and Growth Strategy - The initial team and assets of Lijing Innovation were acquired from the optical module division of Lite-On Technology, providing a strong foundation in terms of capacity and technology [5]. - The company has pursued a strategy of vertical integration through a series of acquisitions, including the purchase of Highwei Electronics, which has been a supplier for Apple since 2009 [5][6]. - Lijing Innovation has expanded its business into the optical lens sector and automotive electronics, indicating a diversification strategy beyond consumer electronics [6][18]. Financial Performance - Lijing Innovation's revenue has shown remarkable growth, increasing from 12.8 billion yuan in 2022 to 27.9 billion yuan in 2024, with a compound annual growth rate (CAGR) of 47.9% [17]. - The company's net profit has also increased, reaching 1.05 billion yuan in 2024, with a CAGR of approximately 23.5% [17]. - The revenue structure is heavily reliant on consumer electronics, particularly camera modules for smartphones, which accounted for 88.2% of total revenue in the first half of 2025 [18]. Investment and Market Position - Lijing Innovation has attracted significant investment from top-tier institutions, raising over 5.24 billion yuan prior to its IPO [7][9]. - The company is positioned as the second-largest player in the global high-end smartphone camera module market, with a strong focus on innovation [9][18]. Challenges and Risks - The company faces challenges related to high customer concentration, with over 67.6% of its revenue coming from a single client, widely believed to be Apple [19][20]. - Fluctuations in raw material prices and labor costs pose potential risks to profitability, as indicated by a slight decline in gross margin from 12.2% in 2022 to 10.8% in 2024 [17][18]. Future Outlook - The global market for consumer electronic camera modules is projected to grow significantly, providing a favorable environment for Lijing Innovation's continued expansion [20]. - The company plans to use IPO proceeds for R&D, upgrading manufacturing platforms, strategic investments, and operational funding, aiming to enhance its competitive edge [21].

近期，从国家知识产权局获悉，欧菲光集团旗下子公司南昌欧菲光电技术有限公司自主研发的一项名 为"摄像头模组"的专利成功通过审批，获得"实用新型专利"授权，以硬核技术实力引领光学行业创新发 展。 另外，由于可变光圈位于第一镜体和第二镜体之间，当光线通过第二镜体进入第一镜体时，可变光圈能 够调节由第二镜体进入第一镜体的进光量，从而提高了摄像头模组的成像质量，并便于摄像头模组控制 景深及营造特殊的视觉效果。 公开资料显示，欧菲光一直以技术为导向、以创新为驱动，坚持"提前布局，全面布局"的专利布局理 念，推动公司长效发展。2025年上半年，研发投入达到7.58亿元，占营业收入比重为7.70%，布局领域 涉及智能手机、智能汽车和新领域等。截至2025年6月30日，欧菲光在全球已申请有效专利2128件（国 内1918件，海外210件），已获得授权专利1734 件 （国内1569件、海外165件）。 据悉，该"摄像头模组"实用新型专利可使摄像头模组集成可变光圈的同时，提高摄像头模组的结构紧凑 型，成像质量也一并提升。由于目前的电子产品均在追求小型化，给摄像头模组预留的空间较小，若直 接将可变光圈简单安装在摄像头模组上，会显著 ...

2025 年 12 月 03 日 晨会纪要 研究所： 证券分析师： 余春生 S0350513090001 yucs@ghzq.com.cn [Table_Title] 晨会纪要 ——2025 年第 205 期 观点精粹: 最新报告摘要 丘钛科技（1478.HK）公司深度报告：摄像头与指纹识别模组结构优化，可持续发展能力向好--丘钛科技/光 学光电子(01478/212703) 公司 PPT 报告（港股美股） 三代制冷剂仍是未来长期主流，供需缺口有望进一步扩大--行业动态研究 舜宇光学科技(2382.HK)深度报告：坚定深化高端产品布局与价值挖掘，盈利能力结构性改善--舜宇光学科技 /光学光电子(02382/212703) 公司 PPT 报告（港股美股） 证券研究报告 1、最新报告摘要 1.1、丘钛科技（1478.HK）公司深度报告：摄像头与指纹识别模组结构优化， 可持续发展能力向好--丘钛科技/光学光电子(01478/212703) 公司 PPT 报告 （港股美股） 分析师：陈重伊 S0350525010002 分析师：陈梦竹 S0350521090003 本报告重点解决了以下几个核心问题：丘钛科技如何进行产 ...

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [1]. Core Insights - The company focuses on the development of optical imaging, fingerprint recognition modules, and automotive electronic components, aiming to enhance its product matrix and transition from a consumer electronics imaging solution provider to a core component supplier for smart hardware [6][15]. - The company is expected to benefit from optical innovation and the wave of automotive intelligence, leading to steady improvements in profitability and market share [15]. Summary by Sections Company Overview - The company is committed to the synergistic development of imaging and fingerprint recognition, focusing on high-end manufacturing upgrades [6][15]. - It aims to grow into a technology enterprise providing integrated machine vision and human vision solutions [15]. Mobile Camera Module Business - The company holds a leading global market share in mobile camera modules, with a focus on enhancing the structure of its products [7][27]. - The market for mobile camera modules is expected to continue its stable growth, driven by increasing smartphone penetration and consumption upgrades [30][32]. - The sales proportion of high-end mobile camera modules (32M pixels and above) reached 53.4% in the first half of 2025 [7][27]. Other Camera Module Business - The IoT and automotive camera markets are expanding rapidly, with the company seeing a 47.9% year-on-year growth in sales for these modules [8][36]. - The global automotive camera module market is projected to reach USD 27.3 billion by 2025, with the company aiming to replicate its mobile camera market position in this sector [8][36]. Fingerprint Recognition Module Business - The market for ultrasonic fingerprint recognition modules is gradually expanding, with significant improvements in sales and product structure leading to increased gross margins [9][46]. - The company reported that its sales of ultrasonic fingerprint recognition modules in the first half of 2025 exceeded the total sales for 2024 [9][48]. Financial Forecast and Investment Recommendation - Revenue projections for the company are estimated at RMB 20.447 billion, RMB 22.854 billion, and RMB 26.331 billion for 2025, 2026, and 2027, respectively, with corresponding net profits of RMB 714 million, RMB 909 million, and RMB 1.138 billion [10][12]. - The company's P/E ratios for the same years are expected to be 14.5x, 11.3x, and 9.1x, which are lower than the industry averages [10][12].

据港交所11月28日披露，立景创新科技股份有限公司(简称：立景科技)递表港交所主板，中信证券和中金公司（601995）为联席保荐人。 | 「編纂]項下的[編纂]數目 : 「編纂]股H股(視乎[編纂]行使與 | | | | --- | --- | --- | | 否而定) | | | | [编纂]數目 | : | [編纂]股H股(可予重新分配) | | [编纂]數目 「編纂]股H股(可予重新分配及視乎[编 | ・・ | | | 與否而定) | | | | 最高[编纂] : 每股H股[編纂]港元,另加1.0%經紀佣 | | | | 0.0027%證監會交易徵費、0.00565% | | | | 交易費及0.00015%會財局交易徵費 | | | | 請時以港元繳足,多繳款項可予退 | | | | T HA Book 1111 working a promote | | | 招股书显示，立景科技是一家全球领先的精密光学解决方案提供商，专注于面向全球消费电子、汽 车电子、智慧办公应用以及智能机器人、XR智能终端、 智能眼镜等其他新兴领域的中高端光学模组及系统集成市场。根据弗若斯特沙利文的资料，公司是全球头部中高端品牌 ...