Core Viewpoint - The A-share market experienced a significant surge on January 12, 2026, driven by the NFC (Near Field Communication) industry chain, particularly highlighted by Alipay's "Tap" feature, which has transformed a dormant mobile function into a vital connection between the physical and digital worlds, reshaping the value of the entire NFC industry chain [1] Group 1: Company Performance - Lens Technology (300433.SZ) saw its stock price rise by 10% to 42.66 yuan, with a trading volume of 12 billion yuan, indicating high market activity [2] - Lens Technology is a key supplier for Alipay's "Tap" feature, with its stock increasing by 147% since the feature's announcement on July 8, 2024 [2] - The expansion of the "Tap" feature into various high-frequency applications has opened a "second growth curve" for Lens Technology beyond consumer electronics [3] Group 2: Chip Industry Insights - Fudan Microelectronics (688385.SH) is positioned as a leading domestic chip design company, providing essential NFC and security chips for the "Tap" feature, which contributed to its stock price increasing by 9.84% to 98 yuan [4] - Since the announcement of Alipay's "Tap," Fudan Microelectronics has seen its stock rise by over 220%, highlighting the critical role of NFC chips in the user experience [5] - Institutional investors are actively investing in Fudan Microelectronics, reflecting confidence in the company's value within the NFC ecosystem amid a focus on technological self-sufficiency and supply chain security [5] Group 3: 3D Vision Technology - Orbbec (688322.SH) represents the 3D vision sector, with its long-term stock performance reflecting market optimism about future interaction methods [6] - The "Tap" feature signifies a near-field interaction solution, while 3D vision technology is seen as central to spatial interaction, suggesting a convergence of various interaction modalities in future smart devices [6] - The market is positioning companies like Orbbec as integral to the upcoming AI hardware ecosystem, with applications in robotics, the metaverse, and AIoT [7]

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 ...

Core Insights - The humanoid robot industry is approaching a pivotal moment, with significant advancements showcased at CES 2026, highlighting its central role in global technological competition and industrial transformation [1] - The humanoid robot concept index has risen by 12.92% since December 17, 2025, indicating a positive market trend [1] - Analysts predict a broad market potential for embodied robots, with continuous technological breakthroughs and successful commercialization efforts [1] Industry Developments - CES 2026, held in Las Vegas from January 6 to 9, 2026, featured humanoid robots as a key focus, with significant participation from leading global companies [1] - NVIDIA's CEO announced that the robotics field has entered its "ChatGPT moment," emphasizing the shift towards "general-specialized" robots that combine broad knowledge with specialized skills [1] - NVIDIA introduced new models aimed at enhancing robots' understanding of physical properties and spatial relationships [1] Application Scenarios - LG showcased the CLOiD household robot capable of performing various domestic tasks, while Boston Dynamics announced the mass production of its Atlas humanoid robot, set to be deployed in Hyundai's factories starting in 2026 [2] - Numerous domestic humanoid robot manufacturers, including Yushu Technology and Zhiyuan Robotics, presented their latest products at CES 2026, indicating a strong domestic presence in the market [2] Industry Chain Collaboration - A-share listed companies are actively positioning themselves across different segments of the humanoid robot industry, leveraging their technological expertise for diversified development [3] - Key components such as precision reducers and servo systems are being tested and developed by companies like Haozhi Electromechanical and Tongda Power, indicating a focus on enhancing core robotic technologies [3] Market Analysis - The Chinese embodied intelligent robot market is experiencing rapid growth, driven by policy, capital, and industry chain support, transitioning from "technological breakthroughs" to "value realization" [4] - Analysts suggest that the humanoid robot sector will see significant investment and development, with Chinese companies leading in hardware and operational control, while AI technology remains a competitive focal point [4] Future Projections - 2025 is anticipated to be the year of mass production for humanoid robots, with 2026 expected to mark a significant advancement in their practical application [5] - The commercial progress of humanoid robots is accelerating, with potential applications in inspection and navigation expected to expand significantly [5] - The manufacturing and logistics sectors are projected to be the first to adopt humanoid robots at scale, with substantial demand anticipated in automotive and 3C manufacturing by 2028 [6]

资金流向方面，主力资金净流出763.50万元，特大单买入1840.75万元，占比4.74%，卖出2095.37万元， 占比5.39%；大单买入8444.42万元，占比21.74%，卖出8953.30万元，占比23.05%。 奥比中光所属申万行业为：电子-光学光电子-光学元件。所属概念板块包括：人形机器人、机器人概 念、智能手机、东数西算、智能座舱等。 奥比中光今年以来股价涨90.99%，近5个交易日涨9.37%，近20日涨10.71%，近60日跌0.87%。 今年以来奥比中光已经1次登上龙虎榜，最近一次登上龙虎榜为2月19日，当日龙虎榜净买入-4736.28万 元；买入总计1.87亿元 ，占总成交额比10.61%；卖出总计2.34亿元 ，占总成交额比13.30%。 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 号奥比科技大厦，成立日期2013年1月18日，上市日期2022年7月7日，公司主营业务涉及3D视觉感知产 品的设计、研发、生产和销售。主营业务收入构成为：消费级应用设备61.83%，3D视觉传感器 31.35%，其他4.21%，工业级应用设备2.60%。 ...

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 ...

Group 1 - Shenzhen leads China with a total of 1,333 "specialized, refined, distinctive, and innovative" (专精特新) "little giant" enterprises, surpassing Beijing (1,210) and Shanghai (1,032) [2][3] - The growth of "little giant" enterprises in Shenzhen reflects a focus on key segments of the industrial chain, mastery of core technologies, and high market share, indicating a high level of development in China's manufacturing sector [3] - Shenzhen's proportion of newly added "little giants" has increased from 6.3% in 2022 to 8.4% in 2023, and is projected to reach 9.8% in 2024 and 9.9% in 2025, maintaining the top position in the country for three consecutive years [4] Group 2 - Notable "little giants" include Jieput's MOPA pulsed fiber laser, which holds over 70% of the domestic market and ranks first globally, and Guangyue Technology, which has developed world-leading high-power transmission cable series [4] - Shenzhen's "little giants" exhibit an average R&D intensity of 7.63%, with annual R&D expenditure averaging 33.39 million yuan, surpassing the national average for similar enterprises [4] - The city has established a comprehensive nurturing system for enterprises, with plans to support "gazelle" and "unicorn" companies through a structured service system aimed at fostering innovation and collaboration within the electronic manufacturing ecosystem [5]

Core Insights - Guangdong's enterprises are crucial participants in market economic activities, with over 9 million enterprises expected by September 2025, and 41.46 million of these being new economy enterprises, accounting for 37.92% of new enterprises in the province [1][3] Innovation Capacity - Guangdong ranks first in regional innovation capacity in China for 2025, maintaining this position for nine consecutive years, supported by a comprehensive innovation chain that includes basic research, technology breakthroughs, results transformation, technology finance, and talent support [3] Development of SMEs - Guangdong has successfully nurtured 43,498 innovative SMEs and 2,617 specialized "little giant" enterprises, establishing a gradient cultivation system for high-quality SMEs [5][17] Talent Attraction - The "Million Talents Gather in Nanyue" initiative launched in February 2025 aims to attract and retain talent, with Guangdong's skilled workforce reaching 22.01 million, including 8.27 million high-skilled workers [14] Economic Transformation - The opening of the Shenzhen-Jiangmen tunnel in 2024 has facilitated a shift from traditional manufacturing to emerging industries like robotics and semiconductors in Jiangmen, enhancing collaboration between Shenzhen's R&D and Jiangmen's production [15] Policy Support - Guangdong's government has implemented a structured guiding fund system to support innovation, creating a regional innovation network that amplifies the scale and radiation effects of entrepreneurship [17][18]

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]

Core Viewpoint - The company, Obi Zhongguang, is a market leader in the field of 3D vision sensors for humanoid robots, offering a comprehensive range of high-performance products and integrated visual perception solutions [1] Group 1: Product Offerings - The company provides a full technical range including binocular structured light and iToF technologies, catering to various sensing needs in humanoid robots [1] - The Gemini series binocular structured light cameras and Femto series iToF cameras are highlighted for their high precision and strong environmental adaptability [1] Group 2: Market Position - The company has established a significant market share in the humanoid robot 3D vision sector, supported by its advanced technological capabilities and a solid customer base [1] - Current products have been successfully adapted by major manufacturers such as UBTECH and Tiangong Robotics [1]

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、 ...