Core Insights - Tesla's focus on the development of the Gen3 dexterous hand is crucial for the advancement of humanoid robots, emphasizing its strategic importance in achieving refined and bionic iterations [1][2] - The dexterous hand is a key component for precise operations and intelligent interactions, significantly impacting the learning efficiency of the robot's "brain" [2][4] Summary by Sections Dexterous Hand Development - The dexterous hand is essential for humanoid robots, accounting for approximately half of the overall development effort [2] - Recent advancements in the dexterous hand include a shift towards more refined and bionic designs, which are critical for scaling production [1][2] Gen3 Dexterous Hand Features - Key changes in the Gen3 dexterous hand include: 1. **Motors**: Relocation of motors to the forearm for higher freedom of design and reduced maintenance complexity, with potential use of micro brushless motors [3] 2. **Miniature Ball Screws**: Replacement of worm gears to enhance transmission precision and efficiency [3] 3. **Tendons**: Transition from torque springs to tendon-driven mechanisms for improved finger flexibility [3] 4. **Sensors**: Integration of vision and tactile sensors for enhanced dynamic grasping capabilities [3] 5. **Lightweight Materials**: Adoption of lightweight materials to improve efficiency and lifespan [3] Business Model and Market Potential - The dexterous hand's business model is robust, with potential for earlier market penetration than complete robots, driven by high technical barriers across hardware, algorithms, and application scenarios [4] - Various companies are positioned to benefit from the dexterous hand technology, including: 1. Third-party companies leveraging technology and partnerships for faster production [4] 2. Major firms like Tesla and Xiaomi developing in-house dexterous hand solutions [4] 3. Component manufacturers extending their capabilities into complete hand solutions [4] Investment Recommendations - Companies identified as beneficiaries include Top Group, Zhenyu Technology, Wuzhou New Spring, Longsheng Technology, and others [5]

证券代码：603667 证券简称：五洲新春 公告编号：2025-076 浙江五洲新春集团股份有限公司 第五届董事会第六次会议决议公告 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。 一、董事会会议召开情况 浙江五洲新春集团股份有限公司（以下简称"公司"）于2025年9月11日以书面通信、电子邮件等方式向 全体董事发出第五届董事会第六次会议通知，会议于2025年9月16日在公司会议室以现场结合通讯方式 召开。本次会议应出席董事7人，实际出席董事7人。会议由张峰董事长主持，公司部分高级管理人员列 席了会议。本次会议的召开符合有关法律、行政法规、部门规章、规范性文件和公司章程的规定。 二、董事会会议审议情况 表决结果：同意7票，反对0票，弃权0票。 2、审议通过《关于确认审计委员会成员及召集人的议案》 根据《公司法》和《公司章程》等有关规定，公司不再设置监事会，原监事会的职权由董事会审计委员 会行使，董事会同意卢生江先生、徐蕾女士、俞越蕾女士为公司第五届董事会审计委员会成员，其中卢 生江先生为审计委员会召集人且为会计专业人士。公司第 ...

证券日报网讯 9月16日晚间，五洲新春发布公告称，选举张迅雷先生为公司第五届董事会职工董事。 （文章来源：证券日报） ...

Company Overview - Wuzhou New Spring (SH 603667) announced its fifth board meeting on September 16, 2025, to discuss the election of a director for company affairs [1] - The current market capitalization of Wuzhou New Spring is 17.1 billion yuan [1] Revenue Composition - For the year 2024, the revenue breakdown is as follows: - Bearings and components account for 54.91% - Thermal management system components account for 28.87% - Automotive parts account for 14.44% - Other businesses account for 1.79% [1]

证券代码：603667 证券简称：五洲新春 公告编号：2025-075 浙江五洲新春集团股份有限公司 关于选举职工董事的公告 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。 浙江五洲新春集团股份有限公司（以下简称"公司"）董事会于近日收到公 司非独立董事、总工程师张迅雷先生的书面辞职报告。因工作调整原因，张迅雷 先生申请辞去公司董事职务。根据《中华人民共和国公司法》和《公司章程》的 有关规定，张迅雷先生的辞职报告自送达公司董事会时生效。 本次选举职工董事工作完成后，公司第五届董事会中兼任公司高级管理人员 以及由职工代表担任的董事人数总计未超过公司董事总数的二分之一。 特此公告。 浙江五洲新春集团股份有限公司董事会 2025 年 9 月 17 日 职工董事简历： 张迅雷，男，汉族，1963 年 6 月出生；中国国籍，无境外永久居留权；中共党 员；硕士学历，机械制造专业，正高级工程师。1979 年至 1991 年任新昌轴承总 厂技术员，1991 年至 1994 年在洛阳工学院(现河南科技大学)攻读研究生，1994 年至 1997 ...

证券代码：603667 证券简称：五洲新春 公告编号：2025-074 浙江五洲新春集团股份有限公司 2025年第四次临时股东大会决议公告 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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 09 月 16 日 (二)股东大会召开的地点：浙江省绍兴市新昌县泰坦大道 199 号公司会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 467 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 152,430,075 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 41.6245 | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由公司董事会召集,会议采取现场投票与网络投票相结合的方式进 行表决，大会由董事长张峰先生主持，会议的召开及表决方式 ...

国浩律师（上海）事务所 关 于 浙江五洲新春集团股份有限公司 2025 年第四次临时股东大会 之 见证法律意见书 上海市静安区山西北路 99 号苏河湾中心 MT25-28 楼 邮编：200085 25-28/F, Suhe Centre, 99 North Shanxi Road, Jing'an District, Shanghai, China T. +86 21 52341668 F. +86 21 52341670 E. grandallsh@grandall.com.cn W. www.grandall.com.cn 2025 年 9 月 国浩律师（上海）事务所 法律意见书 本所律师是根据对事实的了解和对法律的理解发表法律意见。 本法律意见书依据国家有关法律、法规的规定而出具。 本所律师同意将本法律意见书作为公司 2025 年第四次临时股东大会的必备 文件公告，并依法对本所出具的法律意见承担责任。 本所律师已经对与出具法律意见书有关的所有文件材料及证言进行审查判 断，并据此出具法律意见如下： 一、本次股东大会的召集、召开程序 国浩律师（上海）事务所 法律意见书 国浩律师（上海）事务所 关于浙江五洲新 ...

证券代码：603667 证券简称：五洲新春 公告编号：2025-076 浙江五洲新春集团股份有限公司 1、审议通过《关于选举代表公司执行公司事务董事的议案》 第五届董事会第六次会议决议公告 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。 根据《中华人民共和国公司法》(以下简称"《公司法》")《公司章程》的相 关规定，董事会同意选举张峰先生为代表公司执行公司事务的董事并担任公司法 定代表人，任期自本次董事会审议通过之日起至第五届董事会任期届满之日止。 表决结果：同意 7 票，反对 0 票，弃权 0 票。 2、审议通过《关于确认审计委员会成员及召集人的议案》 一、董事会会议召开情况 浙江五洲新春集团股份有限公司（以下简称"公司"）于 2025 年 9 月 11 日 以书面通信、电子邮件等方式向全体董事发出第五届董事会第六次会议通知，会 议于 2025 年 9 月 16 日在公司会议室以现场结合通讯方式召开。本次会议应出席 董事 7 人，实际出席董事 7 人。会议由张峰董事长主持，公司部分高级管理人员 列席了会议。本次会议的召开符合 ...

Investment Rating - The investment rating for the mechanical equipment industry is "Positive" (maintained) [1] Core Insights - The report emphasizes that the dexterous hand is a crucial component for humanoid robots, directly related to the robot's "brain" and significantly impacting its learning efficiency. The engineering effort for the Optimus dexterous hand accounts for about half of the overall humanoid robot development [13][31] - The Gen3 dexterous hand focuses on key areas such as micro motors, micro ball screws, tendon-driven systems, tactile and visual sensors, and lightweight materials, aiming for enhanced flexibility, load capacity, and perception [16][18] - The dexterous hand is expected to see early commercialization, with a diverse range of domestic companies emerging in the market [31] Summary by Sections 1. Dexterous Hand: Key Direction for Tesla's Robot Iteration - The dexterous hand is essential for precise operations and intelligent interactions in humanoid robots, with its optimization being the final step towards mass production [13][31] - Recent statements from Elon Musk highlight the strategic importance of the hand and forearm in the Gen3 iteration [13] 2. Gen3 Dexterous Hand Core Directions - Key changes in Gen3 include the migration of motors to the forearm, the use of micro ball screws for improved precision, and the adoption of tendon-driven systems for enhanced flexibility [16][18][22] - The integration of tactile and visual sensors is expected to improve dynamic grasping and complex task execution capabilities [24][25] 3. Commercialization Potential - The dexterous hand has a high technical barrier and can be sold independently, indicating unique commercialization potential across various sectors such as industrial, medical, and service applications [31] 4. Industry Landscape - The future of the dexterous hand industry is anticipated to feature a mix of third-party manufacturers, leading companies conducting in-house research, and core component manufacturers extending into full hand production [36][37] - Notable companies in this space include Tesla, Xiaomi, and various emerging third-party firms like Aoyi Technology and Xingdong Era [36][37] 5. Investment Recommendations - Recommended companies include Top Group, Zhenyu Technology, Wuzhou New Spring, Longsheng Technology, and others that are positioned to benefit from the advancements in dexterous hand technology [56]

Group 1 - The core viewpoint of the news is that Wuzhou New Spring has seen a significant stock price increase of 5.62%, reaching 46.05 CNY per share, with a trading volume of 721 million CNY and a turnover rate of 4.39%, resulting in a total market capitalization of 16.864 billion CNY [1] - Wuzhou New Spring, established on November 12, 1999, and listed on October 25, 2016, is primarily engaged in the research, production, and sales of bearings, precision mechanical components, automotive safety systems, and thermal management system components [1] - The company's main business revenue composition includes: bearing products 52.53%, air conditioning pipeline components 32.42%, automotive parts 12.87%, and others 2.18% [1] Group 2 - From the perspective of fund holdings, Wuzhou New Spring is a significant position in the Wan Jia Guo Zheng 2000 Index Enhanced A fund, which held 29,700 shares in the second quarter, accounting for 0.47% of the fund's net value, ranking as the fourth-largest holding [2] - The Wan Jia Guo Zheng 2000 Index Enhanced A fund, established on September 26, 2023, has a latest scale of 115 million CNY, with a year-to-date return of 35.56%, ranking 1071 out of 4222 in its category, and a one-year return of 76.32%, ranking 1019 out of 3802 [2]