证券研究报告 汽车零部件&机器人主线周报： 宇树IPO获受理，2025年收入&利润同比实现倍数增长 证券分析师：黄细里 执业证书编号：S0600520010001 证券分析师：郭雨蒙 执业证书编号：S0600525030002 2026年3月22日 请务必阅读正文之后的免责声明部分 核心结论 注： "本周"代表2026.3.16-2026.3.20；"最新交易日"均代表2026.3.20，年初至今基准日为上一个自然年的最后一个交易日 2 ◼ 零部件本周复盘总结：本周SW汽零指数-6.20%（2026年初至今-7.28%），在SW汽车中排名第5；以2010年- 2026.3.20数据为基准，最新交易日SW汽零PE(TTM)处于历史的70.62%分位；PB(LF)处于历史的64.82%分位。 ◼ 机器人本周复盘总结：本周万得机器人指数-5.82%（2026年初至今-9.93%），较SW汽零超额收益为+0.39%； 最新交易日万得机器人PE(TTM)处于2025年以来的22.34%分位，PB(LF)处于2025年以来的30.14%分位。当前 人形机器人交易热度已跌至2025年以来的冰点。 （ ◼ 核心覆盖标的周度变 ...

百达精工(603331.SH)现跌7.51%报19.7元，暂成交10亿元，最新市值39.8亿元；该股昨日盘中曾高见21.78元，股价创历史新高。百达精工发布异动公告，公 司关注到近期部分媒体将公司列为机器人概念股，前述概念所涉业务收入占公司营业收入比例极低，尚未实现规模化销售，公司目前主营业务为压缩机零部 件及汽车零部件的研发、生产和销售，主营业务未发生变化。公司股东杭州重湖拟自2026年2月26日至2026年5月25日通过集中竞价及大宗交易减持公司股份 404.35万股，占公司总股本的2%。上述减持计划尚未实施完毕。(格隆汇) ...

Group 1: Financial Performance - Hengyu Environmental reported a revenue of 294 million yuan for 2025, an increase of 89.87%, and a net profit of 35.93 million yuan, up 106.25% [1] - Zhongke Shuguang achieved a revenue of 14.97 billion yuan in 2025, growing by 13.86%, with a net profit of 2.113 billion yuan, reflecting a 10.54% increase [2] - Oat Technology's revenue reached 619 million yuan, marking a 24.33% growth, and a net profit of 137 million yuan, up 42.63% [4] - Yongxi Electronics reported a revenue of 4.4 billion yuan, a 21.92% increase, with a net profit of 82.24 million yuan, up 23.99% [5] Group 2: Shareholder Actions - Yashida Optoelectronics announced that a shareholder plans to reduce holdings by up to 1.6 million shares, representing no more than 0.976% of the total share capital [3] - Yuanli Co. intends to repurchase shares worth 50 to 60 million yuan for employee stock ownership plans, with a maximum repurchase price of 20 yuan per share [6] - Conch Cement's controlling shareholder plans to increase holdings by 700 million to 1.4 billion yuan [7] - Huaneng Hydropower's controlling shareholder plans to increase holdings by 100 to 150 million yuan [8] Group 3: Corporate Announcements - Baotai's drug application for Darpobatin injection has been accepted by the National Medical Products Administration [14] - Changchun High-tech's subsidiary received approval for clinical trials of GenSci141 ointment [15] - Tongwei Co. is planning to acquire 100% of Lihua Qingneng, with stock trading suspended for up to 10 trading days [16] - Guoyao Modern's application for the raw material drug Minaprine has been approved [20] Group 4: Market Activities - Kaipu Cloud announced the termination of the acquisition of Nanning Taike [21] - Boji Pharmaceutical plans to reduce its holdings by up to 0.69% of the total share capital [23] - ST Renfu intends to issue shares to its controlling shareholder to raise 3 to 3.5 billion yuan for innovative drug development projects [24] - Huayi Technology submitted an application for H-share issuance and listing on the Hong Kong Stock Exchange [25]

资料显示，浙江百达精工股份有限公司位于浙江省台州市台州湾新区海城路2399号，成立日期2000年8 月7日，上市日期2017年7月5日，公司主营业务涉及压缩机零部件和汽车零部件的开发、生产与销售。 主营业务收入构成为：压缩机零部件55.37%，汽车零部件41.44%，其他(补充)2.23%，其他0.96%。 从基金十大重仓股角度 数据显示，诺安基金旗下1只基金重仓百达精工。诺安多策略混合A（320016）四季度持有股数119.41万 股，占基金净值比例为0.41%，位居第二大重仓股。根据测算，今日浮亏损失约143.29万元。 诺安多策略混合A（320016）成立日期2011年8月9日，最新规模21.2亿。今年以来收益14.24%，同类排 名789/8889；近一年收益75.51%，同类排名337/8136；成立以来收益277%。 诺安多策略混合A（320016）基金经理为孔宪政。 截至发稿，孔宪政累计任职时间5年92天，现任基金资产总规模66.75亿元，任职期间最佳基金回报 109.38%， 任职期间最差基金回报-16.74%。 声明：市场有风险，投资需谨慎。 本文基于第三方数据库自动发布，不代表新浪财经观点 ...

百达精工（603331）(603331.SH)发布股价异动公告称，公司关注到近期部分媒体将公司列为机器人概 念股，前述概念所涉业务收入占公司营业收入比例极低，尚未实现规模化销售，公司目前主营业务为压 缩机零部件及汽车零部件的研发、生产和销售，主营业务未发生变化。请广大投资者注意投资风险。 ...

智通财经APP讯，百达精工(603331.SH)发布股价异动公告称，公司关注到近期部分媒体将公司列为机 器人概念股，前述概念所涉业务收入占公司营业收入比例极低，尚未实现规模化销售，公司目前主营业 务为压缩机零部件及汽车零部件的研发、生产和销售，主营业务未发生变化。请广大投资者注意投资风 险。 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603331 证券简称：百达精工 公告编号：2026-004 浙江百达精工股份有限公司 重要内容提示： ● 公司关注到近期部分媒体将公司列为机器人概念股，前述概念所涉业务收入占公司营业收入比例极 低，尚未实现规模化销售，公司目前主营业务为压缩机零部件及汽车零部件的研发、生产和销售，主营 业务未发生变化。 ● 公司最近一个交易日换手率达到37.42%、市盈率（TTM）达到60.37，高于前期水平，成交量放大， 公司股价短期波动幅度较大，敬请广大投资者注意二级市场交易风险，理性决策，审慎投资。 ● 经公司财务部门初步测算，预计2025年年度实现归属于母公司所有者的净利润-19,333万元左右，2025 年年度实现归属于母公司所有者的扣除非经常性损益的净利润-19,458万元左右，由盈转亏。 ● 公司股东杭州重湖私募基金管理有限公司－重湖－云树1号私募证券投资基金(以下简称"杭州重湖")自 2026年2月26日至2026年5月25日拟通过集中竞价及大宗交易减持公司股份4,043,512股，占公司总股本的 2.00%。上述减持计划尚未实施完毕。 ● 经公司自 ...

证券代码：603331 证券简称：百达精工 公告编号：2026-004 浙江百达精工股份有限公司 股票交易异常波动公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 浙江百达精工股份有限公司（以下简称"公司"）股票于 2026 年 2 月 12 日、2 月 13 日、2 月 24 日连续三个交易日内日收盘价格涨幅偏离值累计超过 20%。根据《上海证券交易所交易规则》的有关规定，属于股票交易异常波动情 形。 公司关注到近期部分媒体将公司列为机器人概念股，前述概念所涉业务 收入占公司营业收入比例极低，尚未实现规模化销售，公司目前主营业务为压缩 机零部件及汽车零部件的研发、生产和销售，主营业务未发生变化。 公司最近一个交易日换手率达到 37.42%、市盈率（TTM）达到 60.37，高 于前期水平，成交量放大，公司股价短期波动幅度较大，敬请广大投资者注意二 级市场交易风险，理性决策，审慎投资。 经公司财务部门初步测算，预计 2025 年年度实现归属于母公司所有者的 净利润-19,333 万元左右，2025 年年度实 ...

Group 1 - The stock of Baida Precision increased by 10%, reaching 21.78 CNY per share, with a trading volume of 147 million CNY and a turnover rate of 3.34%, resulting in a total market capitalization of 4.403 billion CNY [1] - Baida Precision, established on August 7, 2000, and listed on July 5, 2017, is located in Taizhou, Zhejiang Province, and specializes in the development, production, and sales of compressor components and automotive parts [1] - The revenue composition of Baida Precision includes 55.37% from compressor components, 41.44% from automotive parts, and 2.23% from other sources [1] Group 2 - Dongcai Fund holds a significant position in Baida Precision through its Dongcai Quantitative Selected Mixed A Fund (009840), which held 32,800 shares, accounting for 0.41% of the fund's net value, ranking as the fifth-largest holding [2] - The Dongcai Quantitative Selected Mixed A Fund was established on July 29, 2020, with a current scale of 77.6499 million CNY, achieving a year-to-date return of 12.35% and a one-year return of 23.71% [2] - The fund manager, Yang Luwei, has been in charge for 4 years and 347 days, with the fund's total asset scale at 2.01 billion CNY, achieving a best return of 151.58% and a worst return of -41.76% during his tenure [2]

Group 1: PCB Industry - Resonac, a Japanese semiconductor materials manufacturer, announced a price increase of over 30% for copper foil substrates (CCL) and adhesive films starting March 1 [4] - Nanya Technology's full series of high-speed products has passed Huawei's certification, with overseas testing of LowCTE materials accelerating, leading to a maximum stock price increase of 34.96% by February 13 [4] - Copper Crown Copper Foil experienced a significant stock price increase, reaching a daily high of 10.11% on February 13 [8] Group 2: Robotics Industry - The CEO of Yuzhu Technology, Wang Xingxing, stated that embodied intelligence could surpass the heat of mobile internet in the future, with potential growth in interest by 100 to 1000 times if significant breakthroughs occur in AI models and robotics [11] - 2025 is projected to be a critical year for the humanoid robot industry, transitioning from a "technology demonstration phase" to "productization and order validation phase" [11] - The humanoid robot industry remains highly prosperous, with several domestic companies initiating IPO processes, and 2026 is identified as a key development year [13]