Securities Star News, on December 29, 2023, Opte (688686) announced that the company would organize an on-site visit on December 28, 2023, with ICBC Credit Suisse, Guoxin Securities, Keiki Securities, Penghua Fund, China Europe Fund and CITIC Securities participating.

The details are as follows:

Q: How do you see the development of the machine vision market?

a: GGII data show that China's machine vision market will be 17.065 billion billion yuan in 2022 (the data does not include the scale of automation integrated equipment), up 23.51 year on year. Among them, the 2D vision market is about 15.224 billion yuan, up 20.21 percent year-on-year, and the 3D vision market is about 1.84 billion yuan, up 59.90 percent year-on-year. GGII predicts that by 2027, China's machine vision market will exceed 56 billion yuan, of which 2D vision market will exceed 40 billion yuan and 3D vision market will approach 16 billion yuan.

With the promotion of China's "manufacturing power" strategy and the accelerated development of industrial automation, machine vision domestic substitution has become the main theme, and it will also usher in a broader market and development space. In line with the development of the industry, the company will continue to expand the application industry, continue to launch new products for different industries, and constantly improve R & D and service capabilities.

Q: How does the company train talents in the industry?

A: The company firmly believes that talents are the most valuable wealth, and is committed to improving the quality of talents and achieving a win-win situation for individuals and enterprises.

① According to the existing personnel structure and future business development needs, the company has established a complete talent training mechanism to provide employees with a full range of ability improvement and career planning.

② The company continues to strengthen the human investment and team building of the R & D system, focusing on the introduction of deep learning (industrial I) algorithms, new product development and other fields of professionals, to consolidate the basic capabilities of the underlying R & D team.

③The company's education department actively explores the potential of the vocational education market. On the one hand, it pays attention to the policy guidance of the national and local governments to promote the development of vocational education, and improves the company's influence in the field of vocational education; on the other hand, it expands the coverage of school-enterprise cooperation, Carry out industry-university-research cooperation with excellent vocational colleges across the country, and promote other colleges in the region to carry out school-enterprise cooperation business. At the same time, the company actively participated in the formulation of relevant talent standards in the field of machine vision, participated in the formulation of national vocational skills standards for "industrial vision system operation and maintenance personnel" organized by the Ministry of human resources and social security, and gradually built a complete talent training and assessment system to help the industry standardization construction, cultivate high-quality machine vision talents, serve the industry and feed the society.

Q: What is the company's production and material preparation model?

A: The company adopts the production preparation mode of fixing production by sales and maintaining a certain safety stock according to the sales forecast to ensure the stability of production and the flexibility of delivery. For more conventional products, the company adopts the "stock production" model. That is, according to historical order data, downstream market conditions and other information to make sales forecasts and determine the level of safety stock, in consideration of the upstream supply cycle, on the basis of the inventory level as the target, adjust the pace of production, advance production, in order to quickly respond to market demand. For non-standard products with a low degree of common use and a narrow range of applications, the company adopts the "production-to-order" model. That is, order-oriented, according to the customer's demand for product specifications, quantity and delivery time to develop production plans, organize material preparation scheduling.

Q: What is the overall strategic layout of the company's investment in Dongguan Tailai?

A: Dongguan Tailai is mainly engaged in the research and development, production and sales of precision transmission components; the main products include linear motors, DD motors, linear modules, precision marble linear motor platforms, etc. Dongguan Tai Lai products are widely used in precision laser processing equipment, precision measuring instruments, LCD panel equipment, semiconductor equipment, lithium equipment, photovoltaic equipment and other downstream areas.

Machine vision and motion control technology are the core technologies of industrial automation. In recent years, with the continuous penetration of machine vision in industrial automation, especially in high-end manufacturing industries such as consumer electronics, new energy, automotive, and semiconductor industries, the combination of operation and control products and machine vision products has become closer. The company continues to strengthen the cooperation with motion control in the overall visual solution, aiming to provide customers with more competitive automation solutions.

The company will combine the advantages of the customer system to expand the application market through linear motors and linear modules. At the same time, increase the drive and drive control integrated technology research and development investment, to build the company's core competitiveness of sports solutions. The combination of future sports solution capabilities and visual solution solutions will form two core technology platforms, which will further consolidate and enhance the company's market competitiveness and enhance its ability to resist market risks.

Q: Introduce the advantages of the company team?

A: The company always attaches importance to the training and construction of the talent team, and constantly introduces high-end talents to form an expanding excellent R & D team and a deep talent reserve.

The company continues to strengthen the human investment and team building of the R & D system. As of the first half of 2023, the company has a total of 806 R & D personnel, an increase of 9.51 year-on-year, accounting for 33.42 of the company's total number. The R & D team has a wide range of specialties, including optics, Industrial design, computer and other majors. In addition, the company also focuses on the introduction of deep learning (industrial I) algorithms, new product development and other fields of professionals, to consolidate the basic capabilities of the underlying research and development team.

The company's management team has been focusing on research and development, production, sales and finance in the field of machine vision for many years. They are proficient in technology and familiar with the market. They have maintained a stable state since the establishment of the company. The company's key account team works closely with the industry's key customers and plays an important role in maintaining customer stickiness and technical continuity.

Q: How do you view the pulling effect of the automotive industry on machine vision?

A: the automobile industry is one of the key industries in the national high-quality development strategy. China's new energy vehicle market continues to lead in scale and development speed, and has begun to establish an independent and controllable supply chain system to promote the localization of the core industrial chain of new energy vehicles. In addition to the high degree of localization of new energy vehicle-related parts, self-designed and self-built automated production lines have become the primary choice of many new potential car manufacturers in China. The construction of automobile automation production line is inseparable from the application of machine vision technology, especially in the on-line inspection of assembly and the off-line inspection of parts. China's automobile industry, especially the rapid development of new energy vehicles, superimposed on the localization process of the core industrial chain, to bring growth opportunities for domestic machine vision enterprises.

With the continuous expansion of the new energy vehicle market, the integration trend of vehicle electrification and intelligence is becoming more and more obvious, and the pace of technological innovation of new energy vehicles will also accelerate. Based on the breakthrough of cooperation with major customers in the industry at home and abroad, the company continues to increase its business expansion in the automotive industry.

Opt (688686) main business: machine vision core hardware and software product development, production and sales.

Opt's third quarterly report in 2023 showed that the company's main revenue was 0.846 billion yuan, down 7.06 percent from the same period last year. Net profit attributable to the parent was 0.205 billion yuan, down 26.79 percent from the same period last year. Deduct non-net profit of 0.182 billion yuan, down 28.57 percent from the same period last year; In the third quarter of 2023, the company's single-quarter main revenue was 0.227 billion billion yuan, down 26.69 percent from the same period last year; non-net profit was deducted by 23.7008 million yuan in a single quarter, down 68.69 year on year. Debt ratio 6.52, investment income 19.4707 million yuan, financial expenses -9.5639 million yuan, gross profit margin 66.33.

The stock has been rated by 7 institutions in the last 90 days, with 5 buying ratings and 1 overweight rating; the average institutional target price in the past 90 days is 122.54.

The following is detailed earnings forecast information:

Margin trading data show that the net outflow of financing of the stock in the past three months has 5.2517 million, and the financing balance has decreased; the net inflow of securities has 25.8722 million, and the balance of securities has increased.

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