Electronic Equipment and Instruments

Orbbec

Deep Research

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605488

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HSAI

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BOSCH

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TSLA

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Entering 2025, three years into the OpenAI-led AI cycle, the industry remains in a full-on AI investment phase. Based on our recent work, Dolphin Research sees 2026 hinging on compute cost-down and on AI capex translating into deployments across software and hardware.The rollout of new hardware is the true incremental driver. Meanwhile, mass production of Tesla's Optimus is drawing closer, and humanoid robots could become the primary AI form factor, reshaping human interaction and productivity.On this premise, Dolphin Research is launching coverage on the robotics supply chain. This is Part 1.

ROBOSENSE

Fulai New Material

Honeywell

W-Ibeda

SANHUA

Sanhua

Hesai

HESAI-W

Keli

Lingyun Ind

Hanwei Electronics

XDLK

Tesla

XPeng

XPENG-W

Humanoid Robots: AI's Best Hope?

Orbbec released FY2026 Q1 earnings on April 24 After-Market (BJT), actual revenue CNY 202.89 M, actual EPS CNY 0.08

Orbbec FY2026 Q1 Earnings Release Scheduled for April 25 After-Market BJT

Orbbec to Release FY2025 Earnings on April 20 Pre-Market (BJT), Forecast Revenue CNY 951.5 M, EPS CNY 0.2877

Orbbec released FY2025 annual earnings on February 27 Pre-Market (BJT), actual revenue CNY 940.74 M (forecast CNY 951.5 M), actual EPS CNY 0.32 (forecast CNY 0.2877)

Orbbec released FY2025 Q4 earnings on February 27 Pre-Market (BJT), actual revenue CNY 226.73 M, actual EPS CNY 0.049

Orbbec released FY2025 9 Months Earnings on October 24 After-Market (BJT), actual revenue CNY 714 M, actual EPS CNY 0.2705

Orbbec released FY2025 Q3 earnings on October 24 After-Market (BJT), actual revenue CNY 278.53 M, actual EPS CNY 0.1202

Orbbec FY2025 Q3 Earnings Release on October 25, 2025, After-Market (BJT)

Orbbec and Horizon Sign Cooperation Agreement for Robot Intelligence

Orbbec Discloses Profitable First Half Year Report

Orbbec released FY2025 Semi-Annual Earnings on August 11 After-Market (BJT), Actual Revenue CNY 435.47 M, Actual EPS CNY 0.15

Orbbec released FY2025 Q2 earnings on August 11 After-Market (BJT), actual revenue CNY 244.41 M, actual EPS CNY 0.0903

Orbbec Announces New Products at World Robot Conference

Orbbec provides entire machine equipment for Alipay's 'Tap and Take' service

Investor Inquires About Orbbec's Corporate Culture

Orbbec to Release FY2025 Semi-Annual Earnings on August 12, 2025 (BJT)

Orbbec's Sci-Tech Innovation Board Securities Issuance Application Accepted by SSE

Orbbec Announces Three New Visual Solutions for Robots

Huashang Fund Surveyed Aubie Zhongguang's 3D Vision Business

Jarah Fund's Research Visit to Orbbec

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Orbbec Technology Group released its 2025 financial report, with revenue of 941 million yuan, a year-on-year increase of 66.66%; net profit of 128 million yuan, compared to a net loss of 62.91 million yuan in the same period last year. The company focuses on 3D visual perception technology, with main products including 3D visual sensors, and has become an important global supplier. It launched the "Tap to Pay" service in collaboration with ANT GROUP to enhance the healthcare service experience

雷帝触网

ANT GROUP

INDUSTRIAL BANK

Hwabao WP CSI Food & Beverage Sub-Industry ETF

E Fund CNI Robot Industry ETF

Orbbec's annual revenue is 940 million, a year-on-year increase of 67%, with a net profit of 130 million. ANT GROUP is the second largest shareholder

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As of March 24, foreign institutional investors have conducted over 900 research visits to A-share companies, covering 271 listed companies. Renowned foreign institutions such as BlackRock and Goldman Sachs participated in these visits. BeiGene received research visits from 81 foreign institutions, ranking first; HUAMING and Orbbec also garnered attention. Foreign capital is primarily focusing on high-end manufacturing and technological innovation sectors

Wallstreetcn

China Merchants CSI Biotechnology Theme ETF

BeOne Medicines

E Fund CSI 300 Health Care ETF

Minsheng Royal CSI Biotechnology Theme ETF

Founder Fubon CSI Medicine and Medical Device Innovation ETF

ChinaAMC SSE STAR Biology and Medicine ETF

ChinaAMC SSE Health Care ETF Initiating Fund

Ping An CSI Medicine and Medical Device Innovation ETF

HUAMING

Guotai SSE STAR Brand Name Drug ETF

ICBCCS SSE STAR Biology and Medicine ETF

Penghua SSE STAR Biology and Medicine ETF

ChinaAMC CSI Biotechnology Theme ETF

Yinhua CSI Innovative Drugs Industry ETF

Tianhong CNI BIOMEDICINE ETF

China Universal 800 Health Care ETF

E Fund CSI Biotechnology Theme ETF

Guotai CSI Bio-medicine ETF

Foreign and domestic institutional investors conduct over 900 research visits to A-share companies, focusing on two core sectors: high-end manufacturing and technological innovation

BABA

ROBT

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In Shanghai, Robbyant, an AI company under Ant Group, unveiled the open-source LingBot-Depth model. This model aims to improve robots' depth sensing and 3D environmental understanding in intricate real-world settings. Alongside this, a strategic partnership is set to be established between Robbyant and Orbbec, a key player in robotics and AI vision. Orbbec plans to incorporate LingBot-Depth into its upcoming generation of products.

Unusual Whales

Alibaba

FT Nasdq AI & Robotics

BABA-W

Ant Group's Robbyant launches spatial perception AI model LingBot-Depth to improve robots' 3D vision. Partnering with Orbbec.

According to the Zhitong Finance APP, Orbbec released its third-quarter report for 2025. In the first three quarters, the company achieved operating revenue of 714 million yuan, a year-on-year increase of 103.50%. The net profit attributable to shareholders of the listed company was 108 million yuan, and the net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 68.57 million yuan

Zhitong

Orbbec released its performance for the first three quarters, with a net profit attributable to the parent company of 108 million yuan

Orbbec ranks first in the 3D vision market for commercial and industrial mobile robots in South Korea, with a market share of approximately 72%. According to a report by Interact Analysis, Chinese manufacturers account for 65% of the shipment volume in the South Korean commercial mobile robot market. Orbbec has become the 3D camera supplier for most Chinese commercial robot products and is the exclusive 3D camera supplier for the top three commercial robot manufacturers among non-Chinese manufacturers

Shenzhen-based Orbbec ranks first in the Korean market, leading the field of mobile robotics and 3D vision

Orbbec expects a net profit attributable to the parent company of approximately 108 million yuan in the first three quarters of 2025, achieving a turnaround from losses to profits. The net profit after deducting non-recurring gains and losses is expected to be 63.5 million yuan. The company benefits from the improvement of the 3D visual perception industry chain and the expansion of application scenarios, achieving rapid growth in areas such as 3D scanning, payment verification, and robotics, while enhancing technology research and development and operational efficiency through full value chain cost control, successfully turning operating profit significantly positive

Orbbec expects to turn a profit, with an estimated net profit attributable to shareholders of approximately 108 million yuan for the first three quarters

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Entering October, multiple listed companies have announced a new round of repurchase plans. According to statistics, after the National Day and Mid-Autumn Festival holiday, over 10 listed companies, including COSCO Ship Hold, Orbbec, ANDON HEALTH, and CAMCE, have issued announcements related to share repurchases in the 4 trading days, continuously sending positive signals to the market with real capital and injecting confidence into the market. (Shanghai Securities Journal)

ANDON HEALTH

CAMCE

Cosco Ship Hold

COSCO SHIP HOLD

Emphasizing market value management, multiple listed companies have announced share repurchase plans

Orbbec(688322.SH)