矩子科技（300802）8月25日发布的中报显示，实现营业收入3.89亿元，同比增长22.99%；实现归母净 利润5010.27万元，同比增长10.14%；实现扣非净利润4648.03万元，同比增长15.19%；基本每股收益 0.17元。 公司凭借高毛利产品结构(综合毛利率29.65%)和精细化管理，保持了强劲的盈利韧性，ROE(净资产收 益率)提升至3.45%，资产运营效率显著优化。 上半年，公司核心业务持续放量，机器视觉设备贡献主要增长动能，营收达1.82亿元(毛利率42.99%)， 控制线缆组件与控制单元分别实现1.64亿元和3860.63万元收入，三大业务协同驱动整体规模扩张。 报告期内，公司已拥有多款半导体AOI设备，可覆盖半导体微组装、先进封装等芯片粘合，金线、铝线 键合外观缺陷检测，以及Post dicing工艺外观缺陷检测需求。目前设备已供应业内多家知名封测厂商与 功率器件厂商，部分型号持续获复购订单，彰显头部客户对产品性能的认可；借助客户示范性应用，公 司产品也已在更多客户中实现装机。 此外，矩子科技AI+检测全面领跑行业。公司已将自研AI算法深度植入AOI、SPI、点胶机及AXI3D在线 ...

Core Viewpoint - The article focuses on the IPO of Yisiwei (Hangzhou) Technology Co., Ltd., a leading machine vision company in the transportation sector, highlighting its entrepreneurial journey, business model, and financial performance [3][4]. Company Overview - Yisiwei specializes in machine vision equipment for the transportation industry, covering upstream components like visual sensors and light sources, midstream measurement and guidance systems, and downstream applications in automotive manufacturing, rail transit, and aviation [4]. - The company holds the largest market shares in China's automotive manufacturing machine vision market, with 13.7% in the overall market and 22.5% in complete vehicle manufacturing [5]. Entrepreneurial Journey - Founder Guo Yin transitioned from academic research in precision instruments to entrepreneurship, identifying a significant opportunity in the domestic machine vision market for automotive manufacturing, which was previously dominated by international giants [10][11]. - In 2016, Guo and his team established Yisiwei in Tianjin, later relocating to Hangzhou to leverage the region's automotive industry cluster and talent ecosystem [12]. Mergers and Acquisitions - Yisiwei has made two significant acquisitions: in 2019, it acquired German company EHR, enhancing its product offerings in automotive welding quality inspection, and in 2022, it acquired Hangzhou Yuyi, expanding its capabilities in automated polishing solutions [13]. Financial Performance - The company has experienced explosive growth in revenue and net profit from 2022 to 2024, with revenues of 220 million, 360 million, and 390 million yuan, respectively, reflecting a compound annual growth rate (CAGR) of 32.6% [26]. - Net profit surged from 5.39 million to 84.33 million yuan during the same period, with a CAGR of 295.7% [26]. - The gross profit margins have remained high, with rates of 62.7%, 64.7%, and 65.5% over the past three years [27]. Revenue Structure - The majority of Yisiwei's revenue comes from the automotive manufacturing sector, with 370 million yuan in 2024, while also expanding into rail transit and aviation [28]. - The revenue from the rail transit sector grew significantly, reaching 7.88 million yuan in 2024, a 23-fold increase from the previous year [29]. IPO Plans - Yisiwei plans to raise 1.21 billion yuan through its IPO, with the largest portion allocated to establishing a machine vision product industrialization base, totaling 710 million yuan [29]. Market Expansion - The company is capitalizing on the trend of Chinese automotive companies expanding overseas, leveraging its subsidiary EHR's established customer base to enter international markets and collaborate with global automotive manufacturers [31].