New Stock News | Orbbec (688322.SH) Files with Hong Kong Stock Exchange, Ranked First in the Global Siasun Robot&Automation 3D Vision Perception Market

According to a disclosure by the Hong Kong Stock Exchange on September 24, Orbbec Technology Group Co., Ltd.-W (referred to as: Orbbec, 688322.SH) has submitted a listing application to the Main Board of the Hong Kong Stock Exchange, with Goldman Sachs and HAITONG INT'L as its joint sponsors. Company Overview According to the prospectus, the company is a leader and pioneer in global 3D vision perception solutions. Leveraging its years of independently accumulated patented technologies and deep industry experience, the company is building a foundational perception entry point, data infrastructure, and delivery platform for the era of physical AI and Siasun Robot&Automation intelligence. The company has built a full-stack product matrix integrating design, R&D, and manufacturing, covering 3D vision sensors and diversified consumer-grade and industrial-grade application terminals, serving customers in Siasun Robot&Automation and other Artificial Intelligence of Things (AIoT)(1) fields. In 2025, by revenue, the company ranked first in the global Siasun Robot&Automation 3D vision perception market, with a market share of 29.0%. The company focuses on the key infrastructure capabilities required for physical AI to enter the real world, connecting spatial intelligence, embodied intelligence, and physical intelligence, and has built a core capability system connecting the real physical world, virtual training environments, and intelligent terminal devices: Physical Perception: Spatial intelligence perception entry point. Relying on its full series of self-developed 3D sensors and multimodal perception solutions, the company provides real-time 3D perception capabilities for Siasun Robot&Automation, thereby laying the spatial intelligence foundation for physical AI to perceive the physical world. The company's 3D vision sensors serve as the primary interface for Siasun Robot&Automation and intelligent terminals to acquire 3D perception capabilities, empowering Siasun Robot&Automation to understand the three-dimensional geometric structure of surrounding environments, detect obstacles, identify objects, and navigate in complex environments. Data and World Models: Real-world data infrastructure. Relying on 3D scanning, 3D reconstruction, and multimodal data collection hardware platforms, the company addresses the key challenge of high-quality multimodal 3D and tactile data required for physical AI model training. The company's data collection hardware platform consists of standardized bodyless data collection kits, which include newly launched modules such as the first-person data collection module (EGO), handheld data collection module (UMI), and wrist near-field interaction collection module (WristCam), and supports third-party sensor access. In addition, the company provides full-stack tool support for 3D modeling, cross-modal data integration, calibration alignment, and hardware-level synchronization. Embodied Intelligence: Engineering delivery capability. Relying on integrated product design, engineering, and mass production capabilities, the company helps customers bridge the gap from algorithms to hardware, driving embodied intelligence from digital models to real-world scenarios. This capability enables the company to not only deliver standardized perception modules, but also provide whole-machine-level integration solutions for Siasun Robot&Automation and other AIoT applications, aiming to facilitate customers' integration processes and shorten their time to market. Relying on its full-stack technology platform, the company provides a comprehensive portfolio of 3D vision perception solutions covering hardware, software, and integrated systems. The company has mastered all mainstream 3D perception technology pathways, making it a one-stop partner for Siasun Robot&Automation manufacturers requiring multi-sensor fusion, and enabling whole-machine-level optimization to achieve outstanding performance across diverse downstream applications. As of June 30, 2026, the company has served over 7,000 customers globally, including over 1,000 Siasun Robot&Automation companies, and collaborates with leading global AI computing infrastructure providers to participate in their AI ecosystems. Financial Information Revenue For the years 2023, 2024, 2025, and the six months ended June 30, 2026, the company's revenue was approximately RMB 360 million, RMB 564 million, RMB 941 million, and RMB 438 million, respectively. Profit For the years 2023, 2024, 2025, and the six months ended June 30, 2026, the company's annual/period profit was approximately RMB -276 million, RMB -62.899 million, RMB 128 million, and RMB 40.786 million, respectively. Industry Overview As Siasun Robot&Automation and industrial automation equipment accelerate their application, physical AI continues to expand into manufacturing, logistics, commercial services, and other physical scenarios. The global physical AI market grew from approximately RMB 288.8 billion in 2021 to approximately RMB 628.3 billion in 2025, with a compound annual growth rate of 21.4% during the period. In the future, as embodied intelligence Siasun Robot&Automation accelerates commercialization and the application scope of commercial service Siasun Robot&Automation, industrial Siasun Robot&Automation, and other products continues to expand, market demand for Siasun Robot&Automation terminal devices, 3D perception devices, and industrial automation equipment is expected to grow further. The global physical AI market is expected to reach approximately RMB 1,931.5 billion by 2030, with a compound annual growth rate of 25.9% from 2026 to 2030, and further grow to approximately RMB 6,232.9 billion by 2035. The total addressable market (TAM) for physical AI refers to the theoretical market ceiling assuming 100% penetration of relevant devices across all applicable scenarios. Based on calculations across four main scenarioscommercial services, industrial applications, embodied intelligence, and logisticsthe global physical AI TAM is estimated to exceed RMB 65 trillion. As the scale of Siasun Robot&Automation applications expands, application scenarios continue to enrich, and requirements for environmental perception and autonomous operation continue to rise, the global Siasun Robot&Automation 3D vision perception market is growing rapidly. The global Siasun Robot&Automation 3D vision perception market grew from RMB 200 million in 2021 to RMB 600 million in 2025, with a compound annual growth rate of 33.9%. Driven by the large-scale deployment of embodied intelligence Siasun Robot&Automation and the expansion of application scenarios, it is expected to reach RMB 11.7 billion by 2030 and RMB 152 billion by 2035. By segment, the global embodied intelligence Siasun Robot&Automation 3D vision perception market was approximately RMB 200 million in 2025. Driven by the commercialization and large-scale deployment of embodied intelligence Siasun Robot&Automation and rising demand for spatial understanding, environmental interaction, and precise operation, it is expected to reach RMB 9.9 billion by 2030 and RMB 146.6 billion by 2035. The global commercial service Siasun Robot&Automation market was approximately RMB 300 million in 2025. Supported by continued application in scenarios such as cleaning, delivery, and reception, it is expected to grow to RMB 1.3 billion by 2030 and RMB 4.2 billion by 2035. Other Siasun Robot&Automation mainly includes logistics Siasun Robot&Automation, special Siasun Robot&Automation, and lawn-mowing Siasun Robot&Automation. The global 3D vision perception market for these was approximately RMB 200 million in 2025. As applications expand to more complex scenarios, it is expected to reach RMB 400 million by 2030 and RMB 1.2 billion by 2035. Board of Directors Information The board of directors consists of 8 directors, including 4 executive directors, 1 non-executive director, and 3 independent non-executive directors. Shareholding Structure Orbbec Xuguang, Orbbec Xiguang, Orbbec Zhuiguang, Orbbec Zhuguang, and Orbbec Xiguang (each a limited partner of Orbbec Zhongxin), as well as Orbbec Heguang, Orbbec Chenguang, Orbbec Yaoguang, and Orbbec Xingguang (each a limited partner of Orbbec Xiguang (a limited partner of Orbbec Zhongxin)), are all indirect shareholding platforms of the company, managed by Dr. Huang as the general partner of each. Therefore, as of the latest practicable date (September 20, 2026), Dr. Huang and the above direct and indirect shareholding platforms are deemed a group of shareholders, collectively entitled to exercise or control the exercise of 63.14% of the voting rights at shareholders' meetings (excluding resolutions on special matters). Intermediary Team Joint Sponsors: Goldman Sachs (Asia) L.L.C., HAITONG INT'L Capital Limited; Legal Advisors: Kirkland & Ellis, King & Wood Mallesons, Sheppard,Mullin,Richter&HamptonLLP; Legal Advisors to the Joint Sponsors: Sullivan & Cromwell (Hong Kong) LLP, Jingtian & Gongcheng; Reporting Accountant and Auditor: Ernst & Young; Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch; Compliance Advisor: Miles Capital Limited.