罗博特科-电话会_ 硅光驱动增长；光电子元件自动化组装与测试

Summary of RoboTechnik Management Call Company Overview - Company Name: RoboTechnik (300757.SZ) - Established: 2011 - Initial Focus: Photovoltaic cell manufacturing equipment - Acquisition: Entered the CPO market by acquiring FiconTEC, a leader in automated assembly and testing systems for integrated photonic devices and high-end opto-electronic components in 2020, with FiconTEC becoming a subsidiary in 2025 [3][9] Industry Insights - Market Segment: Co-Packaged Optics (CPO) and Silicon Photonics (SiPh) - Growth Drivers: Increased demand for SiPh solutions due to rising data volumes for AI model training and the need for higher computing efficiency [5][9] - Technological Advancements: SiPh optical modules are expected to contribute significantly to 800G and 1.6T optical modules due to their compact structure and production efficiency [2] Key Takeaways from Management Call 1. Automated Assembly and Testing Systems: - RoboTechnik utilizes advanced AI and machine learning algorithms for high-precision alignments, meeting customer requirements for 800G+ SiPh or CPO products [4] - The company has developed auto align technology capable of detecting defects as small as 0.5μm [4] 2. Business Expansion Plans: - Equipment revenues related to optical modules and engines increased by 229% year-over-year in the first half of 2025 [9] - Plans to establish production lines in mainland China and expand sales and technical support teams to provide localized services [9] 3. Positive Market Outlook: - Management maintains a positive outlook on the demand for high-precision automated equipment for assembly and testing, aiming to expand capacity to meet rising end demand [1][5] 4. Technological Capabilities: - RoboTechnik's experience in image processing and alignment algorithms enhances the precision of their equipment, which is crucial for the evolving demands of the SiPh and CPO markets [4][8] Additional Insights - Strategic Positioning: The acquisition of FiconTEC positions RoboTechnik favorably within the AI infrastructure cycle, aligning with industry trends towards automation and efficiency in optical components [1][3] - Investment Recommendations: Analysts recommend buying stocks of companies like Innolight, Eoptolink, Landmark, VPEC, and TFC Optical, which are expected to benefit from the growth in SiPh optical modules [2] This summary encapsulates the key points discussed during the management call, highlighting RoboTechnik's strategic initiatives, market opportunities, and technological advancements within the opto-electronic components industry.