| 证券代码：603809 | 证券简称：豪能股份 | | 公告编号：2025-040 | | --- | --- | --- | --- | | 转债代码：113690 | 转债简称：豪 | 24 转债 | | 具体内容详见公司同日披露的《关于调整部分募投项目内部投资结构的公告》。 表决结果：同意 9 票；反对 0 票；弃权 0 票。 该议案已经董事会审计委员会审议通过并同意提交董事会审议。 （二）审议通过《关于以自有资金对全资子公司增资的议案》 成都豪能科技股份有限公司 第六届董事会第十五次会议决议公告 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 成都豪能科技股份有限公司（以下简称"公司"）第六届董事会第十五次会议于 2025 年 8 月 12 日以现场结合通讯表决的方式在公司会议室召开。会议通知于 2025 年 8 月 8 日以短信及电子邮件的方式向全体董事发出。会议应出席董事 9 名，实际出 席董事 9 名。会议由董事长向星星女士主持，公司部分高级管理人员列席了本次会议。 会议的召开符合《中 ...

Core Insights - The company, Haoneng Co., Ltd. (603809.SH), announced a capital increase of 100 million RMB to its wholly-owned subsidiary, Chongqing Haoneng Transmission Technology Co., Ltd. [1] - After the capital increase, the registered capital of Chongqing Haoneng will rise from 170 million RMB to 270 million RMB [1] - The funds will primarily be used for the construction of core components for intelligent manufacturing, aimed at accelerating technological breakthroughs and capacity building in the new energy vehicle and robotics sectors [1] Financial Summary - The capital increase will enhance the production capacity of robotic reducers and establish intelligent production lines [1] - This strategic move is expected to help the company capture a larger market share in related products [1]

Core Viewpoint - The company, Haoneng Co., Ltd. (603809.SH), announced a capital increase of 100 million RMB to enhance its financial strength and competitiveness in the new energy vehicle sector and related industries [1] Group 1: Company Strategy - The capital increase aims to accelerate the layout and construction progress of the company's planetary gear components for new energy vehicles, high-precision industrial planetary gearboxes, and high-precision reducers and joint drive assemblies for robots [1] - After the capital increase, the registered capital of Chongqing Haoneng will rise from 170 million RMB to 270 million RMB, maintaining its status as a wholly-owned subsidiary of the company [1]

Core Viewpoint - The company plans to increase its investment in Chongqing Haoneng by 100 million RMB to enhance its capabilities in the new energy vehicle sector and precision machinery [1] Group 1: Investment Details - The investment will raise Chongqing Haoneng's registered capital from 170 million RMB to 270 million RMB [1] - The funding will be sourced from the company's own funds [1] Group 2: Strategic Objectives - The investment aims to accelerate the development of components for planetary gear reducers in new energy vehicles, high-precision industrial gear reducers, and high-precision reducers for robots [1] - The move is intended to strengthen Chongqing Haoneng's financial position and overall competitiveness [1]

Group 1 - The stock price of Haoneng Co., Ltd. (603809) closed at 15.37 yuan on August 8, 2025, down 2.72% with a turnover rate of 2.3% and a trading volume of 197,400 hands, amounting to 307 million yuan [1] - The latest financial report for Haoneng Co., Ltd. shows total operating revenue of 619 million yuan for Q1 2025, a year-on-year increase of 13.40%, and a net profit attributable to shareholders of 104 million yuan, up 30.42% year-on-year [1] - The company has a current ratio of 1.330, a quick ratio of 0.901, and a debt-to-asset ratio of 51.39% [1] Group 2 - Haoneng Co., Ltd. was established in 2006 and is located in Chengdu, primarily engaged in the automotive manufacturing industry [2] - The company has made investments in 8 enterprises and participated in 10 bidding projects, holding 2 trademark registrations and 78 patents, along with 73 administrative licenses [2]

Investment Rating - The report does not explicitly provide an investment rating for the commercial aerospace industry Core Insights - The commercial aerospace index increased by 0.75% in the week of July 28 to August 1, 2025, with a trading volume increase of 11.40% [2][23] - Significant advancements in satellite internet and rocket technology were highlighted, including the successful launch of the Long March 8A rocket and the successful flight of the Dual Curve No. 10 rocket [7][12] - The report emphasizes the growing importance of commercial aerospace in China, showcasing innovations that enhance launch capabilities and reduce costs [8][19] Summary by Sections 1. Industry Development Dynamics - The Long March 8A rocket successfully launched a group of low-orbit satellites on July 30, 2025, marking a significant achievement in China's commercial aerospace capabilities [7] - The Dual Curve No. 10 rocket successfully completed its mission on July 29, 2025, validating the performance of new products and the safety of the launch vehicle [12] - The YH-1000 unmanned transport aircraft completed a successful cargo verification flight in complex terrain in Chongqing, demonstrating its operational capabilities [14] - The Falcon 9 rocket successfully launched multiple Starlink satellites, showcasing the ongoing advancements in commercial satellite deployment [17] 2. Industry Financing Progress - Taihu Xingyun completed over 50 million RMB in Series A financing, which will accelerate its development in satellite technology and applications [19] - Tianyu Hangtong secured several hundred million RMB in financing to support the production and delivery of its unmanned aircraft systems [20] 3. Capital Market Performance - The commercial aerospace index reached a high of 14672.2 and a low of 14383.3 during the week, with 43.94% of companies in the industry seeing stock price increases [23][26] - Notable stock performers included Guanshang Technology, Aerospace Power, and Aileda, with weekly increases of 18.80%, 13.95%, and 13.22% respectively [23][26] 4. Industry Conference Preview - Upcoming conferences include the 21st Academic Annual Meeting on Deep Space Exploration Technology in July and the 42nd Academic Annual Meeting on Solid Rocket Propulsion in August [31]

机器人：拐点已过，共振开启，再攀高峰 20250805 摘要 汽车销售旺季预计 9 月启动，机器人领域 2025 年三、四季度将迎来更 多阿尔法催化，10 月或成产业重要贝塔节点，市场或提前反应。关注福 达豪能、银轮等零部件公司，以及美湖、西宁、南代等主机厂的催化机 会。 选股策略：关注纯机器人 Beta（如福达豪能、神驰、秦安等），低估值 高增长型公司（如戴克比、沪光、无锡振华），以及单车价值高、渗透 率低的赛道型公司（如季丰、岩普）。 机器人板块拐点已过，中美共振开启，关注 7 月 16 日那周开始的核心 标的调整情况。特斯拉重启计划带来积极反馈，马斯克预计年底量产几 百台第三代人形机器人，2026 年正式批量生产。国内人工智能大会、 人形机器人大会及小米机器人发布等催化因素值得关注。 投资建议：关注新批链品种、低估值高增长型企业和赛道型公司的长期 发展潜力。福达股份和豪能股份是核心标的，关注安培龙和福赛科技。 小米链、小鹏和赛力斯等主机厂链的催化因素值得关注，核心标的包括 美湖股份、西菱动力、蓝黛科技和爱柯迪等。 Q&A 近期汽车和机器人行业的主要趋势和催化因素是什么？ 从汽车行业来看，自 2025 年 ...

Investment Rating - The report does not explicitly state an investment rating for the automotive industry or the embodied intelligence sector Core Insights - The embodied intelligence sector is entering a rapid implementation phase as of 2025, with multiple manufacturers planning mass production of robots across various applications [12][16][18] - The automotive industry is actively integrating embodied intelligence into its supply chain, leveraging existing technological advancements and manufacturing capabilities [34][37] - Government policies across various provinces are increasingly supportive of the embodied intelligence and robotics industries, aiming to foster innovation and market expansion [17][21][18] Summary by Sections 1. Rapid Development of Embodied Intelligence - The period from 2020 to 2025 marks a significant evolution in embodied intelligence, driven by advancements in AI and robotics, particularly following the release of OpenAI's ChatGPT3 [11] - Major manufacturers like Tesla and Xiaomi are entering the market, with Tesla predicting a production capacity of over 5,000 units by 2025 and 50,000 units by 2026 [13][16] - The demand for robots in various sectors is projected to grow significantly, with manufacturing being a primary area for automation due to its repetitive tasks [25][27] 2. Integration of Automotive and Embodied Intelligence - The automotive industry is leveraging its existing technological expertise in areas such as sensor fusion and control algorithms to facilitate the development of embodied intelligence [34][37] - Over ten automotive manufacturers are actively pursuing the embodied intelligence sector through self-development and strategic investments [36][37] - The shared supply chain for components like sensors and chips between automotive and robotics sectors is expected to reduce costs and enhance production efficiency [43][49] 3. Government Support and Policy Framework - Various provinces, including Shenzhen and Beijing, have introduced policies to support the development of embodied intelligence, focusing on technology breakthroughs and ecosystem building [17][21][18] - The policies aim to create a conducive environment for innovation, with specific targets for industry scale and technological advancements by 2027 [18][21] - The report highlights a collaborative approach among regions to drive the growth of the embodied intelligence sector, emphasizing the importance of technology and market integration [18][21]

Market Overview - The market is expected to continue rising in August, driven by liquidity conditions[5] - As of July 28, the Wind All A Index surpassed its peak from October 8 of the previous year, indicating a bullish market sentiment[5] Market Drivers - The upward market movement is attributed to ample incremental capital and improved supply-demand dynamics, particularly in cyclical stocks[7] - Recent trends show a significant increase in public and retail investor participation, with new fund issuance in June reaching nearly 30 billion, the highest monthly level since 2022[8] Investment Strategy - The report recommends focusing on large financial and technology assets, highlighting the potential for banks and insurance companies to benefit from reduced economic risks and lower liability costs[9] - Technology assets are suggested for contrarian trading due to their low trading congestion, with historical performance showing a strong correlation with trading dynamics[9] Key Stock Recommendations - The August stock selection includes: Hong Kong Tech 50 ETF, Fuda Co., Su Neng Co. (automotive), Zhujiang Co., Core International (trading), Wanhua Chemical, Dongcai Technology (chemicals), and others[17] - The report emphasizes the importance of sectors like steel and pharmaceuticals, which are expected to perform well due to demand recovery and policy support[9] Risks - Potential risks include unexpected economic downturns and insufficient policy support, which could impact market performance[18]

Investment Rating - The report recommends investment in companies such as Fuda Co., Ltd., Jinguan Technology, Shuanghuan Transmission, and Zhongding Sealing [2][4] Core Insights - The report emphasizes that reducers are the core components of humanoid robot joints, ensuring high precision and stability in motion control [2][9] - The humanoid robot precision reducer market is expected to grow steadily, with domestic manufacturers enhancing their supply capabilities [2][19] - Different types of reducers (harmonic, RV, planetary, and cycloidal) have distinct characteristics and applications, with cycloidal reducers emerging as a promising option for high-load joints [2][88] Summary by Sections 1. Reducers as Core Components - Reducers are essential for reducing speed and increasing torque in humanoid robots, connecting the power source to the execution structure [9][14] - The market for reducers in China is projected to reach approximately 144.8 billion yuan in 2024, with a steady growth rate of 4% to 5% over the past five years [19] 2. Demand Differentiation and Application of Cycloidal Reducers - The report identifies a growing application space for cycloidal reducers, which offer significant torque increase relative to cost and size [2][88] - Tesla's Optimus Gen2 utilizes a combination of planetary and harmonic reducers, highlighting the trend towards hybrid solutions in humanoid robots [76][80] 3. Prominent Companies and Technological Collaboration - Fuda Co., Ltd. is positioned as a leading player in the precision reducer market, with significant growth in revenue and net profit driven by the demand for new energy vehicles [99] - Jinguan Technology is expanding its footprint in the reducer market through joint ventures and product diversification [103] - Shuanghuan Transmission's subsidiary, Huandong Technology, is a key player in the RV reducer segment, contributing to the company's overall growth [108] - Zhongding Sealing is investing heavily in the humanoid robot sector, focusing on the production of harmonic reducers and joint assemblies [114] 4. Investment Recommendations - The report suggests focusing on leading companies in the reducer market, including Fuda Co., Ltd., Jinguan Technology, Shuanghuan Transmission, and Zhongding Sealing, while also monitoring emerging players like Haoneng Co., Ltd. and Landai Technology [2][4]