Investment Rating - The report maintains a "Buy" rating for the company with a target price of RMB 59.64 [6]. Core Views - The company's 2025 equity incentive plan demonstrates confidence, with a proposal to grant 5.7 million restricted shares, targeting net profit growth rates of no less than 20%/40%/100% for 2026/2027/2028 [1][2]. - A significant procurement contract worth approximately RMB 700 million for the sale of string welding machines and other equipment has been signed, which is expected to support future performance [1][3]. - The company's platform layout is accelerating, with advancements in semiconductor equipment, solid-state batteries, and perovskite equipment, potentially opening a second growth curve [4]. Summary by Sections Equity Incentive Plan - The company plans to grant 5.7 million restricted shares, with performance targets based on net profit exceeding RMB 500 million, aiming for growth rates of 20% in 2026, 40% in 2027, and 100% in 2028, translating to net profits of at least RMB 6 billion, RMB 7 billion, and RMB 10 billion respectively [2]. Procurement Contracts - A procurement contract has been signed for the sale of string welding machines, with a total sales amount of approximately RMB 700 million, expected to be delivered starting December 2025, which will likely boost the company's performance in 2026 [3]. Platform Layout and Growth - The company is accelerating its platform layout in various sectors, including semiconductor equipment, solid-state batteries, and perovskite technology, which is expected to contribute to a new growth trajectory [4]. Profit Forecast and Valuation - The profit forecast for 2025 has been adjusted down to RMB 546 million, a decrease of 13.20%, while the net profit for 2026 and 2027 is projected to be RMB 670 million and RMB 791 million respectively, with corresponding EPS of RMB 1.73, RMB 2.13, and RMB 2.51 [5].

Core Viewpoint - The company has announced a 2025 equity incentive plan, granting 5.7 million restricted shares to 28 individuals, with performance targets set for net profit growth, indicating confidence in future performance and potential for rapid growth [1][2]. Group 1: Equity Incentive Plan - The company plans to grant 5.7 million restricted shares, representing 1.81% of total share capital, with 4.87 million shares (1.54% of total) to be granted initially [1]. - Performance assessment is based on the higher of the company's net profit in 2025 or 500 million yuan, with target growth rates for net profit set at no less than 20%/40%/100% for 2026/2027/2028 [1]. - Corresponding net profit targets for 2026/2027/2028 are set at no less than 600 million yuan, 700 million yuan, and 1 billion yuan, reflecting year-on-year growth rates of 20%/17%/43% [1]. Group 2: Major Contract and Future Growth - The company signed a procurement contract for the sale of string welding machines and other equipment, with a total sales amount of approximately 700 million yuan, to be delivered starting December 2025 [2]. - The average acceptance period for the company's products is estimated at 6-9 months, which is expected to drive revenue growth in 2026 [2]. - The company is increasing investment in R&D to advance new product development and technology iteration, particularly in TOPCon battery multi-slice technology [2]. Group 3: Platform Development - The company is accelerating its platform layout, with significant progress in semiconductor equipment, solid-state batteries, and perovskite equipment [3]. - The company has received bulk orders for AOI detection equipment used in optical communications and has validated some equipment with domestic clients [3]. - Collaboration with industry leaders on solid-state battery equipment development is ongoing, with some equipment already sent to clients for validation [3]. Group 4: Profit Forecast and Valuation - The company's profit forecast for 2025 has been revised down to 546 million yuan, a decrease of 13.20%, due to conservative considerations regarding accounts receivable and inventory impairment [4]. - The projected net profits for 2026 and 2027 are maintained at 670 million yuan and 791 million yuan, respectively, with corresponding EPS estimates of 1.73, 2.13, and 2.51 yuan for 2025-2027 [4]. - The company is assigned a target price of 59.64 yuan for 2026, based on a PE ratio of 28, reflecting the progress in photovoltaic technology and developments in lithium battery and semiconductor equipment [4].

（文章来源：证券日报） 证券日报网讯 12月17日晚间，奥特维发布公告称，公司将于2026年1月5日召开2026年第一次临时股东 会。 ...

证券日报网讯 12月17日晚间，奥特维发布公告称，公司第四届董事会第二十六次会议审议通过《关于 使用部分闲置募集资金暂时补充流动资金的议案》《关于公司及其摘要的议案》《关于公司的议案》等 多项议案。 （文章来源：证券日报） ...

责任编辑：安东 格隆汇12月17日丨奥特维(688516.SH)公布2025年限制性股票激励计划，本激励计划拟向激励对象授予 合计不超过570.00万股限制性股票，约占本激励计划草案公告日公司股本总额的1.81%。其中，首次授 予限制性股票487.00万股，占本激励计划草案公告时公司股本总额的1.54%，首次授予部分占本次授予 权益总额的85.44%；预留83.00万股，占本激励计划草案公告时公司股本总额的0.26%，预留部分占本次 授予权益总额的14.56%。 财经频道更多独家策划、专家专栏，免费查阅>> ...

格隆汇12月17日丨奥特维(688516.SH)公布，公司拟使用不超过人民币5亿元（含本数）闲置募集资金暂 时补充流动资金，并仅用于公司的日常经营、业务拓展等与主营业务相关的生产经营活动。 责任编辑：安东 财经频道更多独家策划、专家专栏，免费查阅>> ...

格隆汇12月17日丨奥特维(688516.SH)公布2025年限制性股票激励计划，本激励计划拟向激励对象授予 合计不超过570.00万股限制性股票，约占本激励计划草案公告日公司股本总额的1.81%。其中，首次授 予限制性股票487.00万股，占本激励计划草案公告时公司股本总额的1.54%，首次授予部分占本次授予 权益总额的85.44%；预留83.00万股，占本激励计划草案公告时公司股本总额的0.26%，预留部分占本次 授予权益总额的14.56%。 ...

奥特维(688516.SH)披露2025年限制性股票激励计划(草案)，拟向激励对象授予合计不超过570万股限制 性股票，约占激励计划草案公告日公司股本总额的1.81%。其中，首次授予限制性股票487万股，首次 授予部分涉及的激励对象共计28人，授予价格为22.73元/股。 ...

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无锡奥特维科技股份有限公司 2025 年限制性股票激励计划首次授予激励对象名单 | 序 | | | | 获授的限制性 | 占拟授予限制 | 占本激励计划 | | --- | --- | --- | --- | --- | --- | --- | | 号 | 姓名 | 国籍 | 职务 | 股票数量（万 | 性股票总量的 | 公告日公司股 | | | | | | 股） | 比例 | 本总额的比例 | | 一、董事、高级管理人员、核心技术人员 | | | | | | | | 1 | 葛志勇 | 中国 | 董事长、总经 | 300.00 | 52.63% | 0.95% | | | | | 理 | | | | | 2 | 周永秀 | 中国 | 董事、董事会 | 18.00 | 3.16% | 0.06% | | | | | 秘书 | | | | | 3 | 殷哲 | 中国 | 董事、财务总 | 14.50 | 2.54% | 0.05% | | | | | 监 | | | | | 4 | 刘汉堂 | 中国 | 副总经理 | 16.00 | 2.81% | 0.05% | | 5 | 季斌斌 | 中国 | 核心技术人员 ...