Core Viewpoint - Tianzhun Technology celebrates its 20th anniversary, reflecting on its journey in AI and industrial integration while looking forward to future opportunities and challenges in the industry [1][3]. Group 1: Historical Achievements - Tianzhun Technology has focused on "AI + Industry" for two decades, overcoming critical technology barriers and establishing itself as a benchmark enterprise on the Sci-Tech Innovation Board [3][5]. - The company has developed a dual-engine structure centered on "visual precision control platform" and "AI technology platform," achieving significant growth and gaining the trust of over 6,000 global clients [5][9]. Group 2: Current Initiatives - The launch of the "Meidao Fund" aims to support young talent in AI and the development of education in Suzhou, with a total donation of approximately 450 million yuan, consisting of 8 million shares and 8 million yuan in cash [7][9]. - Tianzhun Technology showcases its technological capabilities with a complete system from precise perception to intelligent decision-making, focusing on sectors like electronics, semiconductors, new energy vehicles, and robotics [9][11]. Group 3: Future Strategy - The company plans to deepen its AI strategy in industrial sectors, emphasizing breakthrough technologies, market positioning, and ecosystem development to empower the transformation of the manufacturing industry [13][15]. - Tianzhun Technology aligns with Suzhou's "AI + City" action plan, which aims to gather over 3,000 AI enterprises and achieve an annual growth rate of over 20% in the smart economy by 2026 [11][12].

Core Insights - The 20th anniversary summit of Suzhou Tianzhun Technology Co., Ltd. highlighted the company's journey in integrating AI with industrial applications and its future vision for smart manufacturing [1][2][11] Company Development - Tianzhun Technology has focused on overcoming "bottleneck" technologies in precision measurement, breaking foreign monopolies, and establishing a dual-engine structure centered on "visual precision control platform" and "AI technology platform" [5][11] - The company successfully listed on the Sci-Tech Innovation Board in 2019 and has become a benchmark enterprise, serving over 6,000 global clients across key sectors such as electronics, semiconductors, new energy vehicles, and robotics [5][11] Social Responsibility Initiatives - The summit featured the signing ceremony for the "Meidao Fund," aimed at supporting young talent in AI and educational development in Suzhou, with a total donation of approximately 450 million yuan, consisting of 8 million shares and 8 million yuan in cash [5][7] Technological Advancements - Tianzhun Technology is advancing its core technology capabilities, focusing on "AI measurement detection" and creating a comprehensive technology system that spans from precision sensing to intelligent decision-making [7][11] - The company is a partner of NVIDIA's Jetson platform and has launched the "Xingzhi 007" controller, enhancing computational power for complex models in embodied intelligence scenarios [7][9] Industry Context - The "Suzhou City Action Plan for Accelerating the Construction of 'AI+' (2025-2026)" aims to gather over 3,000 AI enterprises and achieve an annual growth rate of over 20% in the smart economy sector by 2026, providing a fertile ground for innovative companies like Tianzhun Technology [9][11] Future Strategy - Tianzhun Technology plans to continue focusing on "AI+Industry," promoting AI technology in various industrial sectors and demonstrating its commitment to empowering the transformation and upgrading of the manufacturing industry [11]

Core Insights - Tianzhun Technology celebrated its 20th anniversary with a summit in Suzhou, attended by notable figures from academia, government, and investment sectors [1] - The highlight of the summit was the signing ceremony for the "Meidao Fund," aimed at supporting young talent in AI and educational development in Suzhou, with a total donation value exceeding 400 million yuan [1] Company Overview - Tianzhun Technology has established itself as a leader in the industrial precision measurement sector, breaking foreign monopolies and developing a dual-engine architecture centered on "visual precision control platform" and "AI technology platform" [2] - The company went public on the Sci-Tech Innovation Board in 2019 and has since become a benchmark enterprise, serving over 6,000 global clients across various sectors including electronics, semiconductors, new energy vehicles, and robotics [2] Technological Advancements - The company is focusing on embodied intelligence, with significant advancements such as the launch of the "Star Intelligence 007" controller, which enhances computational power for complex models in embodied intelligence scenarios [3] - Tianzhun's technology aligns with Suzhou's "AI+" city action plan, which aims to gather over 3,000 AI companies by 2026 and achieve an annual growth rate of over 20% in the smart economy sector [3] Future Strategy - The company plans to continue its focus on "AI+ Industry," promoting the deep integration of AI technologies in key industrial sectors [4] - The strategic vision includes breakthrough technology initiatives, forward-looking market positioning, and the establishment of an open ecosystem to empower the transformation and upgrading of the manufacturing industry [4] - The summit concluded with discussions on the integration of AI and the real economy, emphasizing its role as a key driver for new industrialization [4]

Core Insights - Suzhou Tianzhun Technology Co., Ltd. celebrated its 20th anniversary with a summit attended by notable figures from academia, government, and industry, focusing on the integration of AI and industrial practices [1][4] - The company has established a dual-core architecture consisting of a "Visual Precision Drive Control Platform" and an "AI Technology Platform," aiming to overcome key technological challenges and break foreign monopolies [1][4] - Tianzhun Technology has expanded its business into global markets, serving over 6,000 clients across sectors such as electronics, semiconductors, new energy vehicles, and robotics since its successful IPO in 2019 [1][4] Fundraising and Educational Initiatives - During the summit, the "Meidao Fund" was launched, initiated by key figures including Shen Xiangyang and Xu Yihua, with a total value of approximately 450 million yuan, aimed at supporting AI talent development and educational initiatives in Suzhou [1][4] - The fund consists of 8 million yuan in cash and 8 million shares of Tianzhun Technology, highlighting the company's commitment to fostering a positive cycle of education, technology, and talent [1][4] Technological Advancements - Tianzhun Technology showcased its core technology layout, emphasizing an "AI measurement detection" foundation that integrates precision sensing and intelligent decision-making, particularly in cutting-edge fields like electronics and semiconductors [4] - The company introduced the "Star Intelligence 007" controller, enhancing computational power to support complex models in embodied intelligence scenarios, in collaboration with NVIDIA's Jetson platform [4] - Looking ahead, the company plans to focus on "AI + Industry," advancing technological breakthroughs, market positioning, and ecosystem development to deepen AI applications in relevant industrial sectors [4]

Investment Rating - The report initiates coverage with a "Buy" rating for the company [7]. Core Views - The company is positioned as a core supplier of global visual equipment, focusing on machine vision technology and artificial intelligence to drive industrial transformation. It has established itself in various sectors including consumer electronics, new energy vehicles, photovoltaics, PCB, and semiconductors. The Chinese machine vision market is projected to reach 39.54 billion yuan by 2025, with a compound annual growth rate (CAGR) of 21.2% from 2025 to 2027 [14][22]. Financial Data and Profit Forecast - Total revenue is forecasted to be 1.609 billion yuan in 2024, with a growth rate of -2.4%. For 2025, revenue is expected to increase to 1.788 billion yuan, reflecting a growth rate of 11.1%. By 2027, revenue is projected to reach 2.499 billion yuan, with a growth rate of 14.1% [2]. - The net profit attributable to the parent company is expected to be 125 million yuan in 2024, with a significant decline of 42.1%. However, it is projected to recover to 153 million yuan in 2025, growing by 22.3%, and further increase to 254 million yuan by 2027, with a growth rate of 23.1% [2]. - Earnings per share (EPS) are forecasted to be 0.65 yuan in 2024, -0.07 yuan in 2025, and expected to rise to 1.31 yuan by 2027 [2]. Business Segments Overview - The company has diversified its business into several segments: 1. **Visual Measurement Equipment**: Expected revenue growth of 10%, 20%, and 15% from 2025 to 2027, driven by stable contributions from consumer electronics and battery sectors [8]. 2. **Visual Inspection Equipment**: Anticipated revenue decline of 10% in 2025, followed by recovery with growth rates of 20% and 15% in subsequent years, as new products are launched [8]. 3. **Visual Process Equipment**: Revenue growth is expected to be robust at 30%, 20%, and 10% from 2025 to 2027, particularly in the PCB sector [8]. 4. **Intelligent Driving Solutions**: This segment is projected to see significant growth, with revenue increases of 50% for both 2025 and 2026, and 20% in 2027, fueled by high demand in autonomous vehicles and logistics [8]. Market Position and Strategic Partnerships - The company has become a partner of NVIDIA's Jetson Thor platform, which is expected to enhance the value of its humanoid robot controllers significantly. The partnership is anticipated to lead to increased orders in humanoid robotics and improvements in product performance [7][54]. - The company has established a strong foothold in the intelligent driving sector, collaborating with major players in the industry and developing a comprehensive product line that includes domain controllers and AI edge computing platforms [31][34]. Valuation Metrics - The current stock price corresponds to a price-to-earnings (PE) ratio of 75, 56, and 45 for the years 2025 to 2027, respectively. This is below the average PE ratios of comparable companies, which are 96, 68, and 51 for the same periods [7].