Group 1 - Huawei officially launched the Mate 80 series smartphones, which support 3D facial recognition across the entire series [1] - The Mate 80 series features 3D ToF technology, ensuring financial-grade payment security and supporting over 150 mainstream applications for 3D facial login or payment [1] - Dongwu Securities predicts that 2024 will be the year of explosion for the 3D visual industry, with expanding application scenarios and increasing demand for high-precision perception and autonomous operation [1] Group 2 - Orbbec has applied its 3D visual sensors in various payment scenarios, including offline retail, self-service kiosks, dining, healthcare, and transportation [2] - OFILM leverages its optical technology and automated manufacturing capabilities to expand into new fields such as smart locks, VR/AR, machine vision, and action cameras [2]

格隆汇11月25日丨奥比中光(688322.SH)在投资者互动平台表示，在人形机器人3D视觉传感器领域，公 司已处于市场领先地位，产品覆盖双目结构光、iToF等全技术路线，公司可提供高性能3D视觉传感器 与一体化视觉感知解决方案。公司旗下Gemini系列双目结构光相机和Femto系列iToF相机具备高精度、 强环境适应性等优势，可全面满足人形机器人在复杂室内外场景下的感知与交互需求。目前，公司相关 产品已成功适配优必选、天工机器人等主流厂商。凭借领先的技术实力和深厚的客户积累，公司在人形 机器人3D视觉赛道已建立显著的市场份额。 ...

制图:陈欣(豆包AI生成) 成立不足10年便登陆资本市场，这样的企业深圳已有121家。这批年轻的上市企业中，87家登陆A股、 34家挂牌港股，覆盖电子信息、半导体、新能源等多个高新领域。 121家成立不到10年的上市企业，勾勒了深圳产业结构向高端化、智能化、绿色化转型的清晰轨迹。从 行业分布来看，这些企业高度集中于高新技术产业与战略性新兴产业，形成了以电子信息为核心，半导 体、智能硬件、新能源、人工智能等多点支撑的产业格局。 在电子信息领域，深圳的产业优势尤为突出。作为"全球智能影像第一股"的影石创新，成立仅8年便登 陆科创板，其全景相机全球市占率达67.2%，连续六年全球第一，成为"中国智造"出海的标杆。同样深 耕消费电子赛道的立讯精密，凭借技术积累切入英伟达产业链，在AI硬件浪潮中开辟新增长曲线。 半导体与集成电路领域，一批"卡脖子"攻坚企业快速崛起。成立8年登陆科创板的中科飞测，专注高端 半导体质量控制设备，核心技术达到国际领先水平，成为半导体产业链自主可控的关键力量；存储芯片 企业江波龙成立不足10年便实现市值破千亿，企业级存储与海外业务成为核心增长引擎。 新能源与前沿科技领域同样亮点纷呈。曼恩斯特、 ...

成立不足10年便登陆资本市场，这样的企业深圳已有121家。这批年轻的上市企业中，87家登陆A股、 34家挂牌港股，覆盖电子信息、半导体、新能源等多个高新领域。 从影石创新领跑全球，到中科飞测的技术攻坚；从江波龙市值跃阶，再到奥比中光赛道突围。这些年轻 企业的成长，始终与深圳的培育生态同频共振。 这121家"年轻上市公司"植根于"个转企、小升规、规做精、优上市、市做强"的全周期培育土壤，既是 深圳科创沃土结出的硕果，更是城市创新基因的见证。如今，他们正撑起深圳新质生产力发展的脊梁， 成为现代化产业体系建设的核心力量。 锚定硬核科技，高新集群撑起年轻上市军团 121家成立不到10年的上市企业，勾勒了深圳产业结构向高端化、智能化、绿色化转型的清晰轨迹。从 行业分布来看，这些企业高度集中于高新技术产业与战略性新兴产业，形成了以电子信息为核心，半导 体、智能硬件、新能源、人工智能等多点支撑的产业格局。 新华社记者 毛思倩 摄 新能源与前沿科技领域同样亮点纷呈。曼恩斯特、盛弘股份分别深耕锂电池应用与电力电子技术，成为 新能源产业变革的重要参与者；在人工智能与机器人赛道，奥比中光以70%的市场占有率主导中国服务 机器人视觉 ...

Market Overview - The A-share market experienced a slight pullback during the week of November 10-14, with the Shanghai Composite Index down 0.18% to 3990.49 points, the Shenzhen Component Index down 1.4%, and the ChiNext Index down 3.01% [1] - Institutional research enthusiasm remained high, with 344 listed companies disclosing institutional investor research summaries during the week, and approximately 50% of the researched stocks achieved positive returns [1] Company Highlights Huasheng Lithium Battery - Huasheng Lithium Battery led the gains with a 79.6% increase, marking a cumulative deviation of 200% over 30 consecutive trading days [1] Boying Special Welding - Boying Special Welding (301468) was one of the most researched companies, receiving 4 institutional visits with 79 participating investors, focusing on its capacity expansion for HRSG (Heat Recovery Steam Generator) and progress on its Vietnam production base [2][3] - The company has officially launched the first phase of its Vietnam base with 4 HRSG production lines and plans to build a total of 12 lines by 2026 to enhance overseas supply capabilities [2] Anbotong - Anbotong received the highest number of institutional visits, with 95 participating investors, focusing on its AI + intelligent computing business, which is a core future direction for the company [4] - The company is actively seeking common scenarios with strong demand in sectors like water conservancy and real estate leasing, and has established subsidiaries in Shanghai and Nanjing for GPU resource management [4][5] Opto - Opto hosted 75 institutional visits, discussing machine vision technology applications and industry opportunities, emphasizing its collaboration with Yujiang Technology to enhance logistics automation solutions [6][7] - The collaboration achieved a sorting capacity of over 1500 items per hour with an accuracy rate exceeding 99% [7] Obi Zhongguang - Obi Zhongguang received 64 institutional visits, focusing on its self-developed chips and 3D vision sensor technology for robotics and AI applications, having completed over 10 chip tape-outs [8] - The company aims to integrate more visual ecological products into NVIDIA's platform as a partner in its global digital ecosystem [8]

Market Overview - The A-share market experienced a slight pullback this week, with the Shanghai Composite Index down 0.18% to 3990.49 points, the Shenzhen Component Index down 1.4%, and the ChiNext Index down 3.01% [1] - Institutional research enthusiasm remained high, with 344 listed companies disclosing institutional investor research summaries this week, and approximately 50% of the researched stocks achieved positive returns [1] Company Highlights Huasheng Lithium Battery - Huasheng Lithium Battery led the gains with a 79.6% increase, marking a cumulative deviation of 200% over 30 consecutive trading days [1] Boying Special Welding - Boying Special Welding (301468) was one of the most researched companies, receiving 4 institutional visits with 79 participating investors. The company focuses on special equipment manufacturing and has expanded into industrial equipment and high-end structural components [2] - Key topics included capacity expansion for HRSG (Heat Recovery Steam Generator) and the progress of its Vietnam production base, which has officially commenced operations with 4 HRSG production lines, and plans for a total of 12 lines by 2026 [2][3] Anbotong - Anbotong received the highest number of institutional visits this week, with 95 participating institutions. The company specializes in core software for network security and is focusing on AI + intelligent computing as a core direction for future growth [4] - The company is establishing a computing technology subsidiary in Shanghai and Nanjing, focusing on GPU resource management [4][5] Opto - Opto hosted 75 institutional visits, focusing on machine vision technology applications and industry opportunities. The company has developed a full-stack product matrix covering "vision + sensing + motion + AI" [6] - Recent collaborations include a partnership with Yujian Technology to enhance logistics automation through a 3D vision system [6] Obi Zhongguang - Obi Zhongguang received 64 institutional visits, focusing on its self-developed chips and 3D vision sensor technology for robotics and AI applications. The company has completed over 10 chip designs since its inception [7] ETF Performance - The Food and Beverage ETF (515170) tracked a sub-index with a 2.99% increase over the past five days, while the Gaming ETF (159869) decreased by 2.76%. The Sci-Tech 50 ETF (588000) and Cloud Computing 50 ETF (516630) saw declines of 3.76% and 4.93%, respectively [10]

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]

Core Viewpoint - The article highlights two main investment themes: "AI computing power + electric batteries" and "humanoid robots + embodied intelligence," indicating strong market potential and real commercial validation for these sectors [1]. Group 1: Investment Opportunities - Focus on Battery 50 ETF (159796) as a systematic opportunity benefiting from increased electricity demand driven by AI computing [2]. - The ETF tracks the CSI Battery Theme Index (931719), covering lithium battery materials, electrolytes, and energy storage companies, with significant recent gains in constituent stocks like Tianhua New Energy and Ruifeng New Materials [2]. - Humanoid robot company UBTECH (9880.HK) has secured substantial orders, including a 250 million yuan contract, validating its commercial viability [4]. Group 2: Market Dynamics - Demand for high-performance batteries and power electronics is driven by AI data centers, computing clusters, and energy storage stations, making them significant electricity consumers [9]. - The supply side is experiencing a clearing phase after previous capital expenditure peaks, leading to increased market share and influence for leading companies [9]. - Investment in ETFs is recommended for risk diversification, suitable for mid-term positioning in high-growth sectors [9]. Group 3: Humanoid Robot Sector Insights - Orders for humanoid robots are primarily from automotive, electronics manufacturing, and local government projects, indicating solid B-end payment sources [10]. - The Walker S2 robot features autonomous battery swapping capabilities, demonstrating its potential to replace human labor in real factory settings [10]. - The humanoid robot sector is anticipated to enter a mass production and commercialization phase around 2025-2026, with significant potential for earnings and valuation growth [10]. Group 4: Component and Perception Leaders - Companies like Changsheng Bearing, which produce self-lubricating bearings, are entering the supply chains of multiple robot manufacturers, benefiting from increased joint production [11]. - In the perception sector, Orbbec (688322.SH) holds a 70% market share in 3D vision sensors for service robots, with revenue expected to double year-on-year before Q3 2025 [11].

Market Overview - The A-share market experienced a slight pullback this week, with the Shanghai Composite Index down 0.18% to 3990.49 points, the Shenzhen Component Index down 1.4%, and the ChiNext Index down 3.01% [1] - Institutional research enthusiasm remained high, with 344 listed companies disclosing institutional investor research summaries this week [1] - Approximately 50% of the stocks researched by institutions achieved positive returns, with Huasheng Lithium Electric leading with a 79.6% increase [1] Company Highlights 博盈特焊 (Boyin Special Welding) - Boyin Special Welding was one of the most researched companies this week, receiving 4 institutional visits with 79 participating investors [2] - The company focuses on special equipment manufacturing, with products used in various industrial sectors including energy and chemical industries [2] - Key topics of inquiry included capacity expansion for HRSG (Heat Recovery Steam Generator) and the progress of its Vietnam production base, which has officially commenced operations with 4 HRSG production lines [2] - The company plans to build a total of 12 HRSG production lines in Vietnam to enhance overseas supply capabilities [2][3] 安博通 (Anbotong) - Anbotong received the highest number of institutional visits this week, with 95 participating institutions [4] - The company specializes in core software for network security and is focusing on AI + intelligent computing as a core future direction [4] - Anbotong is actively seeking common scenarios with strong demand for enterprise-level applications, such as water conservancy and real estate leasing [4] - The company has established subsidiaries in Shanghai and Nanjing focused on GPU resource scheduling and management [4][5] 奥普特 (Opto) - Opto hosted 75 institutional visits, focusing on machine vision technology applications and industry opportunities [6] - The company has developed a full-stack product matrix covering "vision + sensing + motion + AI" for industrial automation [6] - Recent collaborations include a deep integration with Yujiang Technology to create high-precision logistics automation sorting solutions [7] 奥比中光 (Obi Zhongguang) - Obi Zhongguang received 64 institutional visits, focusing on self-developed chips and 3D vision technology [8] - The company has completed over 10 chip tape-outs, including iToF and dToF sensing chips [8] - As a partner in NVIDIA's global digital ecosystem, Obi Zhongguang aims to integrate more visual ecological products into NVIDIA's platform [8]

Group 1: Shennong Group - The latest complete cost in September is 12.5 yuan/kg, with weaning cost at 269 yuan/head and PSY at 29.5 heads [1] - The company has improved disease prevention by enhancing air filtration hardware and management, leading to a decrease in mortality rates [1] - Capital expenditure for this year is planned to be within 1 billion yuan, with a target debt-to-asset ratio of below 40% [1] Group 2: Lihua Shares - The complete cost for yellow feather broilers in Q3 is approximately 11.4 yuan/kg, influenced by feed raw material costs and high temperatures [2] - The complete cost for the pig segment in Q3 is about 12.6 yuan/kg, decreasing to 12.3 yuan/kg in September, with a target of 12 yuan/kg by year-end [2] - The annual slaughter capacity for meat chickens is 150 million, with a target of 100 million for 2025 [2] Group 3: Daotong Technology - The company's comprehensive gross margin remains above 55% in the first three quarters of 2025, benefiting from new product launches and AI integration [3] - AI and software business are growing rapidly, with an increase in annual software fees due to high-end product releases [3] - The company plans to pursue H-share listing to deepen international layout [3] Group 4: Ruichuang Weina - Contract liabilities reached 320 million yuan in Q3 2025, a year-on-year increase of 54.72%, driven by strong domestic and international demand [4] - The company achieved record high revenue in Q3, with sufficient orders and gradually released production capacity [4] - The company is expanding its infrared technology applications into new fields such as robotics and consumer electronics [4] Group 5: Obsidian Light - Robotics is a key strategic focus for the company, providing comprehensive 3D vision sensor solutions for humanoid robots [5] - The company has completed over 10 chip tape-outs, covering various sensor and computing chips, establishing a complete technology loop [5] - In 2024, overseas revenue is projected to be 60.26 million yuan, with a gross margin of 62.32% [5]