Opt 2025 performance doubles but has not yet returned to peak levels; robot business generates over 23 million yuan in revenue in its first year.

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Source: Daily Economic News

Reporter: Wu Zepeng

Recently, Opto Electronics (SH688686, stock price 89.82 yuan, market value 10.98B yuan), a machine vision company based in Dongguan, Guangdong, disclosed its 2025 annual report. Last year, it achieved revenue of 1.27B yuan and net profit attributable to the parent of 186 million yuan, representing year-on-year increases of 39.24% and 36.63%, respectively, reversing the downward trend in revenue and profit from the previous year.

It should be noted that Opto was listed at the end of 2020, reaching a profit peak in the following two years. Although revenue hit a new high last year, net profit was only about 60% of the peak. Additionally, last year, Opto acquired Dongguan Tailai Automation Technology Co., Ltd. (hereinafter referred to as Dongguan Tailai), which contributed 112 million yuan in revenue and 6.2149 million yuan in net profit attributable to the parent in this period.

Furthermore, the Daily Economic News reporter noticed that as a forward-looking strategic layout, Opto’s robotics-related business generated revenue for the first time in 2025, achieving a “from zero to one” breakthrough. Opto also provided a performance guidance of no less than 25% revenue growth in 2026 and clearly plans to make the robotics business its “second growth curve” over the next five years.

Opto also stated that as robots accelerate their integration into industrial scenarios, their sensing, decision-making, and execution coordination capabilities are becoming an indispensable and significant new growth direction in intelligent manufacturing systems. The company has completed the layout of core sensing products such as binocular structured light and laser radar.

Robotics business generated 23.3 million yuan in revenue in its first year

The core of machine vision consists of three parts: industrial cameras, light sources, and image processors. Their functions are to capture images, illuminate the tested objects, analyze images, and output conclusions, forming a complete machine vision solution. Opto started with light sources and now has a full range of core hardware and software products for machine vision.

It should be noted that over the past several years, Opto has positioned itself as a supplier of core automation components, focusing its business operations and technological development on industrial applications. The company previously stated that its products and technologies, while applicable to humanoid robot production, do not involve components directly used in humanoid robots.

However, in 2025, Opto proposed that in response to the strategic opportunities of intelligent manufacturing and artificial intelligence, the company established a “dual-track” development strategy of “industrial automation + intelligent robots”: on one hand, deepening its existing advantages in industrial automation; on the other hand, proactively laying out in the field of robot components to open new growth tracks.

The Daily Economic News reporter noted that in its 2025 annual report, Opto indicated that the robotics business achieved a “from zero to one” breakthrough, forming a dual closed-loop of supply and industrial scene implementation, with related customer revenue of about 23.3 million yuan.

At an investor communication meeting earlier this year, Opto also introduced its cooperation with Hong Kong-listed robot company Yuejiang (HK02432). The company uses 3D vision systems to guide Yuejiang’s high-performance collaborative robotic arms, achieving full-chain coordination of “perception—decision—execution,” and jointly developing high-precision, high-speed, and highly reliable logistics automation sorting solutions.

Opto further stated that over the next five years, it will fully develop the “second growth curve” of robotics, focusing on embodied intelligence core, and deeply cultivating core components for robot perception and motion control.

Additionally, in February this year, Opto announced a new fundraising plan, intending to raise no more than 1.38 billion yuan through the issuance of convertible bonds to unspecified investors, for projects including industrial 3D visual sensors and smart hardware expansion, AI visual solution system R&D, and core components for industrial robots.

Regarding the strategic layout of robot components, in the April issuance prospectus (draft for registration), Opto introduced that in the first half of 2025, the company established a robotics division. In core technology, it will transfer and apply advanced visual technologies accumulated in industrial scenes (such as high-precision positioning, defect detection, dynamic target tracking, etc.) to robot scenarios. It has laid out four major product directions: dToF cameras, iToF cameras (which use light pulse time-of-flight to obtain depth information, with dToF meaning direct time-of-flight and iToF meaning indirect time-of-flight), binocular structured light, and laser radar, covering key visual components needed for robot “visual perception.”

2026 revenue growth guidance of no less than 25%

In fact, although the robotics business has achieved a “from zero to one” breakthrough, its revenue contribution is currently not significant. Opto’s core performance growth in 2025 still relies on traditional machine vision core components, which last year generated 960 million yuan in revenue, a 21.01% increase.

The Daily Economic News reporter observed that the substantial growth in revenue from these core machine vision components is set against a backdrop of previous declines—revenue in this segment declined for two consecutive years in 2023 and 2024. In 2022, revenue from core machine vision components reached 963 million yuan, a 28.99% increase; but in 2023, it fell to 809 million yuan, and in 2024, further to 793 million yuan, with year-over-year decreases of 16.02% and 1.93%, respectively. The company previously stated that the overall market environment and downstream customer upgrade needs were insufficient. Comparing these figures, in 2025, Opto’s traditional business nearly reached its 2022 peak revenue level.

Opto’s core machine vision components are mainly applied in 3C (

With the recovery of main product revenue, Opto’s operating income hit a record high last year. Besides the growth in machine vision accessories, the company’s motion control product revenue was 135 million yuan. The reporter noted that this part of the business mainly comes from the acquisition of Dongguan Tailai during the reporting period. In early 2025, Opto proposed to acquire a 51% stake in Dongguan Tailai for 78.54 million yuan, which was completed in April of the same year.

After the acquisition, Opto aimed to combine its visual technology with Dongguan Tailai’s precision transmission technology to further expand downstream customer applications and promote “vision + motion” collaborative sales. In August last year, Opto stated that Dongguan Tailai’s robotic joint module products were in sample delivery, and the company planned to increase investment and enter markets related to humanoid robots, such as hollow-shaft motors and frameless torque motors.

Revenue hit a new high, but net profit did not keep pace. The reporter found that Opto achieved net profits of over 300 million yuan in 2021 and 2022, but last year’s net profit was less than 200 million yuan, only about 60% of the peak level. According to the annual report, last year, Opto’s gross profit margin remained relatively stable, but sales, management, and R&D expenses increased significantly—management expenses rose by 57.93% year-over-year, mainly due to increased factory depreciation, share-based payments, personnel growth, and employee compensation.

In the annual report, Opto also mentioned that the management set clear performance targets based on its strategic plan and equity incentive scheme: using 2025 revenue as a baseline, the company aims for no less than 25% growth in 2026. So far, the company’s operations are good, and management remains confident in achieving these annual goals.