Orbbec (688322) 上海证券报·2025-04-21 22:04Core Viewpoint - The company, Orbi Tech, is in a growth phase with significant revenue increase but continues to face losses due to high investment in technology and market expansion [5][6][40]. Company Overview - Orbi Tech specializes in the design, research, production, and sales of 3D visual perception products, including 3D visual sensors and application devices [8]. - The company has established a strong customer base and is recognized as a key supplier in the global 3D visual sensor market [8][34]. Financial Performance - In 2024, the company achieved total revenue of 564.46 million yuan, a year-on-year increase of 56.79%, but reported a net loss of 62.91 million yuan, a decrease in loss of 77.20% compared to the previous year [40]. - The company has not distributed dividends or increased capital due to its focus on sustainable growth and funding needs [6]. Industry Context - The 3D visual perception industry is transitioning from industrial applications to consumer-level products, with significant growth expected in various sectors such as AIoT, robotics, and automotive [9][19]. - The market for 3D visual perception is projected to reach $17.2 billion by 2028, indicating a robust growth trajectory [18]. Technological Development - The company is one of the few in the market capable of providing a complete set of proprietary 3D visual perception products and has a comprehensive technology roadmap [34]. - The industry is characterized by high technical barriers, requiring expertise in various fields such as optics, algorithms, and hardware integration [32][33]. Application Areas - Key application areas for 3D visual perception technology include biometric recognition, three-dimensional scanning, and industrial measurement, with increasing demand in smart home devices and autonomous vehicles [20][24][31]. - The technology enhances user experience in various sectors by providing accurate depth and spatial information, which is crucial for applications like facial recognition and digital twins [21][25].