Core Insights - Square and Technology has recently completed nearly 100 million yuan in B+ round financing, primarily for research and development and expanding industry applications [1] - The company achieved several hundred million yuan in revenue in 2024, with the majority coming from contact lenses and related optical consumables [2] - The company aims to transition traditional manufacturing to smart manufacturing, leveraging automation and AI technologies [2][3] Financing and Growth - The recent financing round was exclusively invested by the Beijing Advanced Manufacturing and Intelligent Equipment Industry Investment Fund [1] - In October 2024, the company completed another round of financing worth several hundred million yuan, attracting new investors and receiving continued support from existing shareholders [1] Business Focus and Market Strategy - Square and Technology specializes in intelligent solutions based on computer vision systems, focusing on the ophthalmic industry, high-end medical devices, and pharmaceuticals [1] - The company has developed its own brand, Insvis, which focuses on defect detection for transparent materials in the medical device and pharmaceutical sectors [3][4] - The company is expanding its business from mainland China to Taiwan and Southeast Asia, with plans to eventually enter the European and American markets [4] Industry Challenges and Innovations - The company addresses challenges in the optical industry, such as the difficulty of detecting defects in transparent materials and the need for advanced optical imaging systems [2][3] - Traditional manual inspection methods are inefficient, leading to the adoption of machine vision technology to improve quality control and production efficiency [3] - The company has launched a fully automated intelligent production line for contact lenses, which has been adopted by major clients in the industry [4] Future Outlook - The company estimates that there will be around 200 new production lines for contact lenses in mainland China over the next 3 to 5 years, representing a market potential of several billion yuan [4] - Square and Technology is also developing its Pharmvis and Medivis product lines for pharmaceutical and medical device testing, aiming to balance product performance and cost-effectiveness in a competitive market [5]