Group 1 - The automation equipment sector increased by 1.37% on January 27, with Kaidi Co. leading the gains [1] - The Shanghai Composite Index closed at 4139.9, up 0.18%, while the Shenzhen Component Index closed at 14329.91, up 0.09% [1] - Key stocks in the automation equipment sector showed significant price increases, with Kaidi Co. rising by 10.00% to a closing price of 131.42 [1] Group 2 - The sector experienced a net outflow of 9.53 billion yuan from institutional investors, while retail investors saw a net inflow of 9.97 billion yuan [2] - Major stocks like Dongjie Intelligent and Robotech also saw notable price increases, with Dongjie Intelligent up 9.90% and Robotech up 4.21% [1][2] - The trading volume for Kaidi Co. reached 1.22 million shares, contributing to a total transaction value of 1.54 billion yuan [1]

# 事件：2026年1月26日，凯迪股份与新泉股份正式签署战略合作协议，双方将携手布局机器人关键零部件赛道， 开启优势互补、协同创新的全新征程，为行业发展注入强劲动能。 # 简评： ①战略协议的签署建立在# "两次送样、技术和品质得到北美客户充分认同的基础上"， 【华鑫汽车&机器人】泉链崛起0126：尘埃落定，新泉800e，凯迪200e ①战略协议的签署建立在# "两次送样、技术和品质得到北美客户充分认同的基础上"， ②新泉跟北美客户的合作是战略性的（车端的三巨头，TP/SH/XQ)，#凯迪对新泉的意义还在于，电机+减速器+丝 杠（潜在）的全链条的能力 产业链很多传言，尘埃落定，强烈看好"泉链" # 新泉： 1车，26年13e利润，20X，260e；2智驾，cybercab单车2.5W，20W辆，50e收入，5e利 润，30X，150e，3机器人：对标Tp/Sh给400e，合计800e目标市值 # 凯迪：首家得到新泉公开认可的标的。 电机+新型减速器+编码器+模组，全产业链布局，# 与Tier1合作预计很快落地。 ②新泉跟北美客户的合作是战 【华鑫汽车&机器人】泉链崛起0126：尘埃落定，新泉800e，凯迪2 ...

Investment Rating - The report maintains a "Buy" rating for the automotive industry, particularly focusing on humanoid robots and aerospace sectors [2][10]. Core Insights - The humanoid robot market is expected to significantly drive the demand for rotary transformers, with a projected market size of 6.15 billion yuan by 2030 and 47.1 billion yuan by 2035, reflecting a CAGR of 85.9% from 2026 to 2035 [4][27]. - The aerospace sector is also experiencing growth, with satellite launches increasing rapidly, leading to a forecasted rotary transformer market size of 700 million yuan by 2030 and 1.8 billion yuan by 2035, with a CAGR of 22.7% from 2026 to 2035 [5][30]. Summary by Sections 1. Humanoid Robots and Aerospace Driving Rotary Transformer Market - Rotary transformers are well-suited for humanoid robots due to their strong shock resistance and durability, making them ideal for complex operational environments [4][24]. - The market for rotary transformers in humanoid robots is expected to surpass traditional markets, as they replace encoders in robotic joints [27]. 2. Market Performance of Humanoid Robots - The humanoid robot sector is anticipated to see a substantial increase in market size, driven by the need for high reliability and longevity in robotic joints [4][27]. - The report highlights the importance of rotary transformers in enhancing the performance of humanoid robots, particularly in their joints and dexterous hands [27]. 3. Market Performance of Aerospace Sector - The report notes a significant increase in satellite launches, with SpaceX planning to launch 42,000 satellites by 2033, which will boost the demand for rotary transformers in satellite attitude and orbit control systems [5][30]. - The rotary transformer market in the aerospace sector is projected to grow steadily, with increasing applications in satellite systems [30]. 4. Industry Data Tracking - The global rotary transformer market is expected to grow from approximately 4.445 billion yuan in 2024 to 11.851 billion yuan by 2031, with a CAGR of 15.3% from 2025 to 2031 [33]. - The automotive sector's rotary transformer market is projected to grow from 1.334 billion yuan in 2024 to 3.555 billion yuan by 2031 [33]. 5. Company Announcements - The report emphasizes the rapid growth of domestic companies like Yingshuo Technology, which has captured a significant market share in the rotary transformer sector, particularly in the new energy vehicle market [44][61]. - Yingshuo Technology's revenue has shown a CAGR of 176.6% from 2020 to 2022, with a strong focus on the new energy vehicle sector [44][55].

证券日报网讯 1月21日，凯迪股份在互动平台回答投资者提问时表示，截至2026年1月9日，公司持股人 数为4925户；股东人数随着交易进行实时更新，请谨慎正确看待股东人数变化。 （文章来源：证券日报） ...

Core Viewpoint - As of December 31, 2025, the number of shareholders for Kaidi Co., Ltd. (605288) is reported to be 5,392, showing a slight decrease compared to the previous month [1] Group 1 - The company emphasizes that the number of shareholders is updated in real-time as trading occurs, advising investors to interpret changes in shareholder numbers with caution [1]

格隆汇1月21日丨凯迪股份(605288.SH)公布，公司于近日收到拟减持股东发来的《减持股份实施情况告 知函》，截至2026年1月21日，本次减持计划可减持时间区间届满，凯恒投资以集中竞价的方式减持其 所持公司股份38.02万股，占公司股份总数的0.5380%，本次减持计划已实施完毕。 ...

证券代码：605288 证券简称：凯迪股份 公告编号：2026-002 常州市凯迪电器股份有限公司 股东减持股份结果公告 本公司董事会、全体董事及相关股东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。 大股东及董监高持股的基本情况 截至本公告披露日，常州市凯恒投资中心（有限合伙）（以下简称"凯恒投 资"）持有常州市凯迪电器股份有限公司（以下简称"公司"或"凯迪股份"）无 限售条件流通股 5,110,000 股，占公司总股本比例为 7.23%，上述股份为 IPO 前 取得及资本公积转增股本方式取得，并于 2023 年 6 月 12 日解除限售上市流通。 减持计划的实施结果情况 公司于 2025 年 9 月 23 日披露了《常州市凯迪电器股份有限公司持股 5%以 上股东集中竞价减持股份计划公告》（公告编号：2025-038），凯恒投资拟自减持 公告发布之日起满 15 个交易日之后的 3 个月内通过集中竞价交易方式减持公司 股份不超过 380,275 股，即不超过公司股份总数的 0.5381%。在减持时间区间内， 凯恒投资任意连续 90 日通过集中竞价交 ...

Group 1 - The core point of the news is that Kaidi Co., Ltd. experienced a stock price increase of 5.48%, reaching 130.58 CNY per share, with a trading volume of 211 million CNY and a turnover rate of 2.38%, resulting in a total market capitalization of 9.228 billion CNY [1] - Kaidi Co., Ltd. is located in Changzhou, Jiangsu Province, and was established on August 27, 1992. The company was listed on June 1, 2020, and its main business involves the research, development, production, and sales of linear drive systems, with 98.83% of its revenue coming from linear drive products [1] Group 2 - From the perspective of major circulating shareholders, Guotai Fund's Guotai Valuation Advantage Mixed Fund (LOF) A (160212) increased its holdings by 557,200 shares in the third quarter, holding a total of 2.6039 million shares, which accounts for 3.71% of the circulating shares. The estimated floating profit today is approximately 17.6544 million CNY [2] - The Guotai Valuation Advantage Mixed Fund (LOF) A (160212) was established on February 10, 2010, with a latest scale of 1.566 billion CNY. Year-to-date returns are 15.03%, ranking 337 out of 8,848 in its category, while the one-year return is 70.38%, ranking 781 out of 8,093. Since its inception, the fund has achieved a return of 388.43% [2] Group 3 - The fund manager of Guotai Valuation Advantage Mixed Fund (LOF) A (160212) is Wang Zhaoxiang, who has been in the position for 3 years and 215 days. The total asset scale of the fund is 2.864 billion CNY, with the best return during his tenure being 56.97% and the worst return being 18.94% [3] Group 4 - In terms of the fund's top holdings, Guotai Valuation Advantage Mixed Fund (LOF) A (160212) holds 2.6039 million shares of Kaidi Co., Ltd., which accounts for 8.56% of the fund's net value, making it the third-largest holding. The estimated floating profit today is approximately 17.6544 million CNY [4]

Group 1 - The core viewpoint of the news is that Kaidi Co., Ltd. has seen a significant increase in its stock price, rising by 5.48% to reach 130.58 CNY per share, with a trading volume of 211 million CNY and a turnover rate of 2.38%, resulting in a total market capitalization of 9.228 billion CNY [1] - Kaidi Co., Ltd. is located in Changzhou, Jiangsu Province, and was established on August 27, 1992. The company was listed on June 1, 2020, and its main business involves the research, production, and sales of linear drive systems. The revenue composition is 98.83% from linear drive products and 1.17% from other sources [1] Group 2 - From the perspective of the top ten circulating shareholders, Debon Fund has a fund that ranks among the top shareholders of Kaidi Co., Ltd. The Debon High-end Equipment Mixed Initiation A Fund (023566) entered the top ten circulating shareholders in the third quarter, holding 332,400 shares, which accounts for 0.47% of the circulating shares. The estimated floating profit today is approximately 2.2537 million CNY [2] - The Debon High-end Equipment Mixed Initiation A Fund (023566) was established on March 14, 2025, with a latest scale of 614.985 million CNY. Year-to-date returns are 12.64%, ranking 614th out of 8,848 in its category, while the cumulative return since inception is 39.15% [2]

Core Viewpoint - Kedi Co., Ltd. (stock code: sh605288) experienced a limit-up on January 19, 2026, reaching a price of 126.48 yuan, with a 10% increase, resulting in a total market capitalization of 8.939 billion yuan and a circulating market capitalization of 8.879 billion yuan, with a total transaction amount of 240 million yuan at the time of reporting [1]. Group 1 - The recent surge in Kedi's stock price is attributed to the announcement of its robotics business, which, while not expected to generate immediate revenue, may provide new growth opportunities in the long term [2]. - The company's construction projects have increased from 59.4 million yuan to 102 million yuan, indicating an intention for capacity expansion, while its operating revenue for the first three quarters has grown by 3.67% year-on-year, suggesting a phase of business scale expansion [2]. - Kedi's financial assets have risen from 380 million yuan to 526 million yuan, reflecting strong financial management capabilities, with minimal share reductions by major shareholders, indicating a stable governance structure [2]. Group 2 - The current market trend shows significant interest in robotics, with substantial capital inflow into related sectors, which likely attracted market attention to Kedi's newly announced robotics business [2]. - On the technical and capital flow front, Kedi was included in the "Dragon and Tiger List" on January 9, with a transaction amount of 235 million yuan, indicating net buying from speculative funds and institutions, contributing to the stock price increase leading to the limit-up on January 19 [2].