格隆汇12月19日丨杭可科技(688006.SH)公布，公司于近日收到曹政先生、宽投幸运星和曹冠群先生发 来的《股份减持结果告知函》，曹政先生于2025年9月 22日至2025年12月19日期间，通过集中竞价交易 方式累计减持公司股份146.74万股，占公司总股本的0.2431%。宽投幸运星于2025年9月22日至2025年12 月19日期间，通过集中竞价交方式累计减持公司股份90万股，占公司总股本的0.1491%。曹冠群先生未 发生减持。截至目前，本次减持计划时间已届满。 ...

证券代码：688006 证券简称：杭可科技 公告编号：2025-053 浙江杭可科技股份有限公司 关于实际控制人及一致行动人减持股份结果公告 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、准确性和完整性依法承担法律 责任。 重要内容提示： 实际控制人及一致行动人持有的基本情况 本次减持计划实施前，浙江杭可科技股份有限公司（以下简称"公司"或"本 公司"）实际控制人之一曹政先生直接持有公司股份 2,547,062 股，占公司总股本 的 0.4219%；公司实际控制人之一曹政先生之一致行动人上海宽投资产管理有限 公司－宽投幸运星 10 号私募证券投资基金（以下简称"宽投幸运星"）持有公司 股份 2,400,000 股，占公司总股本的 0.3976%；公司实际控制人之一曹骥先生之 一致行动人曹冠群先生直接持有公司股份 3,509,376 股，占公司总股本的 0.5813%。 股东名称 曹冠群 股东身份 控股股东、实控人及一致行动人 √是 □否 直接持股 5%以上股东 □是 √否 董事、监事和高级管理人员 □是 √否 其他： 持股数量 3,509,37 ...

证券研究报告 | 行业深度报告 2025 年 12 月 16 日 储能爆发+固态加速，看好锂电设备开启新一轮景气周期 锂电设备 2026 年度策略报告 中游制造/机械 2025 年，传统锂电扩产&招标恢复，同时储能爆发带来需求持续性，锂电设备 公司基本面触底回升。展望 2026 年，随着设备和材料逐步突破，固态电池即将 迎来商业化奇点，中试线招标、装车调试、量产线招标等后续催化不断，看好 设备端投资机遇。 q 2025 年回顾：传统锂电扩产&招标恢复，锂电设备板块景气复苏。 q 投资建议：固态产业化拐点渐行渐近，看好新技术打开设备百亿市场空间， 建议关注"卖铲人"逻辑。从竞争力延续角度，建议关注布局整线设备的锂 电设备龙头【先导智能】【赢合科技】【利元亨】【杭可科技】等；布局前 道干法电极设备【纳科诺尔】【宏工科技】【曼恩斯特】【先惠技术】【华 亚智能】；卡位核心环节等静压设备【利通科技】【科新机电】【荣旗股份】， ALD 设备【微导纳米】等；平台型激光设备、超声设备公司【海目星】【联 赢激光】【德龙激光】【骄成超声】等。 q 风险提示：下游电池厂扩产不及预期、固态电池等新技术产业进展不及预期、 竞争格局恶化 ...

（文章来源：证券日报） 证券日报网讯 12月12日，杭可科技在互动平台回答投资者提问时表示，截至2025年9月30日，公司股东 总数为23553户。 ...

Group 1: Engineering Machinery - Domestic demand for excavators is expected to recover to around 120,000 units in 2025, with a year-on-year increase of 19.6% in the first ten months of 2025 [1][15] - The export of excavators reached 93,800 units in the first ten months of 2025, showing a year-on-year increase of 14.4%, with an expected annual growth rate of around 15% [1][29] - The recovery in domestic demand is primarily driven by small excavators, reflecting increased demand for machinery in rural and small-scale water conservancy projects [15][20] Group 2: Shipbuilding and Offshore Engineering - The global shipbuilding industry saw a decline in new orders, with a total of 9,483.31 million deadweight tons in the first ten months of 2025, down 44.67% year-on-year [2] - The shipbuilding price index has shown a general decline, but there is a recovery in orders for bulk carriers and oil tankers in October 2025 [2] - The upcoming replacement cycle in shipbuilding, combined with tightening global environmental policies, is expected to drive a new round of demand growth [2] Group 3: Cyclical Industries - The cyclical sector is showing signs of recovery in 2025, supported by low baselines and the expansion into new industries [3] - The industrial control market is rebounding, with a notable increase in the OEM market, while project-based markets are showing weaker performance [3] - The industrial robot market is expected to grow by over 10% year-on-year in 2025, indicating a sustained recovery [3] Group 4: AI and Robotics - The AI sector is driving significant changes in various industries, with a focus on humanoid robots, data center equipment, and vertical applications [4] - The demand for data center backup power sources is increasing due to global capacity shortages, with domestic alternatives expected to accelerate [4] - The introduction of humanoid robots is becoming a reality, with significant production plans announced by companies like Tesla for 2026 [4] Group 5: Investment Recommendations - The report recommends focusing on the engineering machinery sector, particularly companies like SANY Heavy Industry, XCMG, and LiuGong, which are expected to benefit from domestic and international demand [5][9] - In the shipbuilding and offshore engineering sector, China International Marine Containers (CIMC) is highlighted as a potential beneficiary of the recovery [5][9] - The AI and robotics sector presents investment opportunities in companies like Weichuang Electric and Jack Technology, which are positioned to benefit from the ongoing industrial transformation [5][9]

内容概况：与全球市场相似，中国电动汽车产业的快速发展，提升了锂电池的下游需求，进而带动了锂 电池智能装备发展。数据显示，中国锂电池智能装备市场规模从2020年的275亿元增长至2022年的722亿 元。2023-2024年下游市场需求放缓，电动汽车电池及储能电池企业新项目建设减速，抑制了对锂电池 智能装备的短期需求，导致2024年市场规模下降至202亿元。2025年以来，受益于国际头部电池企业开 工率显著提升、扩产节奏逐渐恢复，中国锂电池智能装备行业迎来复苏契机，预计2025年中国锂电池智 能装备市场规模将达260亿元。 相关上市企业：先导智能（300450）、赢合科技（300457）、华自科技（300490）、杭可科技 （688006）、利元亨（688499）、科恒股份（300340）、璞泰来（603659）、星云股份（300648）、联 赢激光（688518）、海目星（688559）等。 相关企业：深圳市浩能科技有限公司、广东奥鸿智能装备有限公司等。 关键词：锂电池智能装备行业相关政策、锂电池智能装备行业产业链、动力锂电池出货量、消费锂电池 出货量、储能锂电池出货量、全球锂电池智能装备行业市场规模、中国锂 ...

（文章来源：证券日报） 证券日报网讯 12月8日晚间，杭可科技发布公告称，天健作为公司2025年度审计机构，原委派赵丽女士 和朱蕴文女士作为公司2025年度财务报表审计报告和2025年末财务报告内部控制审计报告的签字注册会 计师，由于朱蕴文女士工作安排调整，现委派吴晨希女士接替朱蕴文女士作为公司2025年度财务报表审 计报告和2025年末财务报告内部控制审计报告的签字注册会计师，变更后的签字注册会计师为赵丽女士 和吴晨希女士。 ...

证券代码：688006 证券简称：杭可科技 公告编号：2025-052 浙江杭可科技股份有限公司 关于变更签字注册会计师的公告 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。 浙江杭可科技股份有限公司（以下简称"公司"）于 2025 年 4 月 28 日召开 第三届董事会第二十四次会议、第三届监事会第二十一次会议，并于 2025 年 5 月 19 日召开 2024 年年度股东大会，审议通过了《关于续聘公司 2025 年度审计 机构的议案》，同意续聘天健会计师事务所（特殊普通合伙）（以下简称"天健"） 担任公司 2025 年度财务报告审计机构及内部控制审计机构，聘期一年。具体内 容详见公司于 2025 年 4 月 29 日在上海证券交易所网站（www.sse.com.cn）披露 的《浙江杭可科技股份有限公司关于续聘会计师事务所的公告》（公告编号： 2025-012）。 近日，公司收到天健送达的《关于变更签字注册会计师的函》，现将相关变 更情况公告如下： 三、本次变更对公司的影响 本次变更过程中相关工作安排已有序交接，变更事项不会 ...

Group 1: Core Insights - The report emphasizes that the AI wave is initiating a new cycle in intelligent manufacturing, shifting the investment focus from cyclical fluctuations to "new hard-core" assets that can define the future and support the AI trend [8][9]. - Human-shaped robots are highlighted as the ultimate embodiment of AI intelligence, expected to revolutionize labor liberation and serve as a universal platform for AI interaction with the physical world [9][10]. - The report identifies solid-state batteries as a key technology that will unlock performance ceilings for human-shaped robots and electric vehicles due to their high energy density and safety [9][10]. Group 2: Human-Shaped Robots - The human-shaped robot industry is transitioning from concept validation to commercialization, with companies that have developed product capabilities in key components likely to experience significant valuation increases [13][17]. - The investment strategy focuses on essential hardware components rather than single manufacturers due to the uncertainty in design solutions, creating unique investment opportunities [25][28]. - Key companies to watch in this sector include Xinjie Electric, Huichuan Technology, and Weichuang Electric, which are positioned to benefit from the growth in human-shaped robots [17][30]. Group 3: AI Equipment and Materials - The demand for AI-related infrastructure is surging, leading to significant growth in high-performance servers, GPUs, and advanced PCB requirements [32][36]. - The PCB specialized equipment market is expected to grow from $3.306 billion in 2020 to $4.111 billion in 2024, with a CAGR of 5.60% in China [32][34]. - Key players in the equipment sector include Dazhu CNC and Chip Quik, which are well-positioned to capitalize on the increasing demand for advanced PCB manufacturing [36][40]. Group 4: Solid-State Batteries - The solid-state battery industry is accelerating towards commercialization, with major manufacturers like CATL and Zhongxin Innovation targeting 2027 for small-scale production [9][10]. - The global solid-state battery equipment market is projected to reach ¥107.94 billion by 2030, indicating a significant capital expenditure cycle ahead [9][10]. - Companies such as Lead Intelligent and Hai Moxing are recommended for their potential to benefit from this new capital expenditure cycle [9][10]. Group 5: Controlled Nuclear Fusion - Controlled nuclear fusion is transitioning from experimental phases to industrialization, with significant advancements in research and increased capital investment driving the industry forward [9][10]. - The report suggests focusing on companies involved in nuclear fusion projects, such as Hangyang Co. and Shanghai Electric, which are positioned to gain from this emerging sector [9][10]. - The demand for energy solutions is expected to grow, making nuclear fusion a critical area for investment as it promises to provide sustainable energy sources [9][10]. Group 6: Engineering Machinery - The domestic engineering machinery market is recovering, with excavator sales showing a positive trend, while overseas demand is also increasing due to factors like housing construction and manufacturing sector recovery [6][9]. - Major projects in China, such as the Yaxi Water Conservancy Project and the Xinjiang-Tibet Railway, are expected to boost domestic machinery demand [6][9]. - Key companies in this sector include Sany Heavy Industry, XCMG, and Zoomlion, which are anticipated to benefit from both domestic recovery and international expansion [6][9].

Investment Rating - The investment rating for the company is "Buy" [4] Core Insights - The company's performance is expected to stabilize and recover due to dual market drivers from domestic and international markets, with significant collaborations with leading battery manufacturers [2] - The solid-state battery technology is anticipated to open a new growth curve for the company, with a projected market size increase from 2.06 billion to 33.62 billion by 2030, reflecting a compound annual growth rate of 74.8% [3] - The company's profitability is forecasted to grow significantly, with net profits expected to reach 535 million, 776 million, and 1.055 billion from 2025 to 2027, representing a compound growth rate of 40.31% [4] Financial Performance Summary - For Q1-Q3 2025, the company reported revenue of 2.721 billion, a year-on-year increase of 1.87%, and a net profit of 386 million, up 2.59% year-on-year [1] - In Q3 2025, revenue was 751 million, down 3.75% year-on-year, with a net profit of 97.67 million, a decrease of 8.35% year-on-year [1] - The gross margin for Q3 2025 reached over 40%, indicating a significant improvement in profitability [1] Market Position and Strategy - The company is deepening partnerships with major battery manufacturers such as BYD and LG, and expanding its global footprint, including establishing a factory in Korea and becoming a supplier for Tesla [2] - The company is well-positioned to benefit from the recovery of the lithium battery equipment industry starting from Q4 2024, as major international battery manufacturers announce expansion plans [2]