Report published September 3, 2026
RoboTechnik (300757.SZ): Goldman Sachs Equity Research on Photonics IC Scaling & Testing Tools
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- September 3, 2026
- Analysis as of
- September 3, 2026
Authors / editors: Allen Chang, Verena Jeng
Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Following meetings with RoboTechnik's Chairman and the Head of FiconTest at Semicon Taiwan, Goldman Sachs reiterates a Buy rating with a 12-month target price of Rmb796 (36% upside). The company is poised to benefit from generative AI-driven demand for automated photonics IC production, testing, and assembly tools.
Key Takeaways
- 1.Generative AI is accelerating demand for photonics scaling; management expects tool shipments over the next year to exceed 50% of the total shipped across the prior 25 years.
- 2.RoboTechnik provides comprehensive, end-to-end photonics testing across wafer-level, die-level, and module-level testing, targeting a 50-60% testing time reduction in wafer testing and 4x speedup in die testing next year.
- 3.Goldman Sachs maintains a Buy rating on RoboTechnik with a 12-month price target of Rmb796 (36% upside), driven by leadership in active alignment, full automation, and AI/digital twin capabilities.
Table of Contents
- Key takeaways
- Price Target Risks and Methodology - RoboTechnik
- Disclosure Appendix
Report data
Valuation and Forecast Summary for RoboTechnik (300757.SZ) — as of September 3, 2026.
| Metric | Estimate | Context |
|---|---|---|
| 12-month Price Target | 796.0 Rmb | Maintained Buy target price based on 20.7x 2031E P/E discounted back to 2027E at 11.3% COE. |
| Share Closing Price | 585.2 Rmb | Price as of 3 Sep 2026 close. |
| Expected Upside | 36.0% | Upside potential to Goldman Sachs' 12-month price target. |
| Market Capitalization | 98.1 Rmb bn | Market cap equal to Rmb98.1bn / $14.6bn. |
| Wafer-level testing time reduction target | 50.0% | Targeting to shorten wafer-level testing time by 50-60% next year. |
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Authors / Editors
Reported Data Context
- 12-month Price Target: 796.0 Rmb (12-month) · Source: Goldman Sachs Research estimates
- Share Closing Price: 585.2 Rmb (2026-09-03) · Source: FactSet
- Expected Upside: 36.0 % (12-month) · Source: Goldman Sachs Research estimates
- Market Capitalization: 98.1 Rmb bn (2026-09-03) · Source: FactSet
- Wafer-level testing time reduction target: 50.0 % (2027) · Source: Company data
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