As the global manufacturing industry transforms towards intelligence, the field of machine vision is facing unprecedented development opportunities.
However, Oput (688686.SH, stock price 118.34 yuan, market value 14.465 billion yuan) is facing the contradiction between surge in orders and limited production capacity.
On February 9, OPT held a board meeting and reviewed and approved a convertible bond issuance proposal with a total amount of no more than 1.38 billion yuan.
The issuance plan shows that the funds will be invested in multiple key areas.
Behind this action is the fierce collision between the company’s performance growth and the limits of its existing production capacity.
In the first three quarters of 2025, the company’s revenue exceeded 1 billion yuan, a year-on-year growth of more than 38%. In particular, the 3C and lithium battery business have recorded high growth of 23.82% and 49.35% in the first half of 2025.
Facing orders, the existing production system is no longer able to cope.
With this fund-raising, Opp is specifically aiming to meet urgent needs through a 460 million yuan hardware expansion project.
It plans to invest 460 million yuan in raised funds for “industrial 3D vision sensor and intelligent hardware expansion construction projects.”
The project is located in Huizhou and will improve the large-scale supply capacity of 3D vision sensors, industrial sensors, operation control products and measurement systems by building high-standard production plants and clean workshops.
Opt said, “The expansion of production capacity will provide solid support for the coordinated development of the company’s ‘vision + sensing + motion + AI’ product matrix, help the company deepen its global market layout, strengthen its voice in international competition, and inject strong and lasting impetus to achieve sustainable high-quality development.”
At the same time, Opt will spend nearly 800 million yuan to focus on AI vision research and development and the industrialization of core robot parts.
The announcement shows that it plans to invest 445 million yuan in the “AI intelligent vision solution system research and development project” and invest 345 million yuan in the “industrial-grade robot core components and vision system research and development industrialization project.”
The total investment funds in these two major projects account for nearly 60% of the total funds to be raised, which shows the company’s determination to transform.
In terms of AI research and development, currently, due to factors such as limited existing research and development sites and insufficient experimental testing equipment, the company has not yet fully launched its research and development and technology upgrades in visual agent technology, visual algorithm large models, and core device products in different fields, and the relevant research and development depth needs to be further explored.
The new project will focus on industrial intelligent vision software and core devices, and deeply integrate cutting-edge technologies such as industrial AI and large models.
Especially in high-end manufacturing fields such as semiconductors and new energy, the company strives to build a “vision + sensing + motion + AI” product matrix to promote the in-depth integration and collaborative empowerment of technology and products, and provide customers with one-stop solutions covering “perception – decision-making – execution”.
In the field of robotics, as artificial intelligence gives robots stronger perception and decision-making capabilities, intelligent robots are moving from concept to large-scale application.
Opto plans to build a research and development platform based on robot 3D vision and multi-modal fusion technology.
After the project is completed, it will be mainly used for the production and sales of robot visual perception components such as dToF/iToF cameras and binocular structured lights.
Oput believes that the core technology of intelligent robots is still in a rapid iteration period, and the commercialization costs of some scenarios are relatively high (high-precision 3D vision sensors, AI algorithm training costs).
The dual-track strategy allows companies to invest in stages, first completing the digital transformation of production lines through industrial automation, and then gradually deploying intelligent robots to undertake complex tasks, reducing the cost of technical trial and error.
Opt raises funds through convertible bonds this time, trying to break the shackles of existing production capacity in the “industrial automation + intelligent robot” track, and launch a new round of competition with global giants on the international track of artificial intelligence and high-end manufacturing.
In the future, whether it can use this fund-raising to expand production capacity and upgrade technology deserves continued attention from the market.
