Core Viewpoint - The company, Kailda (688255.SH), anticipates a significant decline in net profit for the first three quarters of 2025 compared to the previous year, while expecting a recovery in the third quarter of 2025. Financial Performance Summary - The estimated net profit attributable to shareholders for the first three quarters of 2025 is projected to be between 12.24 million and 13.26 million, representing a decrease of 17.02 million to 16.00 million compared to the same period last year, which translates to a year-on-year decline of 58.17% to 54.68% [1] - For the third quarter of 2025, the expected net profit attributable to shareholders is estimated to be between 9.97 million and 10.80 million, indicating an increase of 4.22 million to 5.05 million compared to the same period last year, with a year-on-year growth of 73.25% to 87.69% [1] - The projected net profit excluding non-recurring gains and losses for the first three quarters of 2025 is expected to be between 5.78 million and 6.80 million, reflecting a decrease of 15.97 million to 14.95 million year-on-year, which corresponds to a decline of 73.44% to 68.75% [1] - For the third quarter of 2025, the estimated net profit excluding non-recurring gains and losses is projected to be between 8.61 million and 9.44 million, showing an increase of 5.58 million to 6.41 million compared to the same period last year, with a year-on-year rise of 184.66% to 212.14% [1] Investment and Market Strategy - In the first nine months of 2025, the company has increased investments to enhance product competitiveness, leading to significant year-on-year growth in research and development expenses and management expenses [2] - Factors such as increased share-based payment expenses, inventory impairment provisions, and a decline in interest income have notably impacted the net profit for the first three quarters of 2025 [2] - The company expects a recovery in performance in the third quarter of 2025 due to improved product competitiveness and a relative rebound in downstream market demand [2]

[Overall Performance Forecast for Q1-Q3 2025](index=1&type=section&id=业绩预告概览) Hangzhou Kelda Welding Robot Co., Ltd. forecasts a significant year-on-year decline in Q1-Q3 2025 net profit, but a strong recovery in Q3 driven by improved product competitiveness and market demand [Current Period Performance Forecast](index=1&type=section&id=一、本期业绩预告情况) The company anticipates a substantial year-on-year decline in Q1-Q3 net profit, yet a robust rebound in the third quarter [Performance Forecast Period](index=1&type=section&id=(一)%20业绩预告期间) - This performance forecast covers the period from **January 1, 2025, to September 30, 2025**[2](index=2&type=chunk) [Performance Forecast Details](index=1&type=section&id=(二)%20业绩预告情况) 2025 Q1-Q3 and Q3 Performance Forecast | Metric | Q1-Q3 2025 (Estimated, CNY 10,000) | Year-on-Year Change (Estimated) | Q3 2025 (Estimated, CNY 10,000) | Year-on-Year Change (Estimated) | | :------------------------------------------------ | :-------------------------------- | :------------------------------------------------ | :-------------------------------- | :------------------------------------------------ | | Net Profit Attributable to Shareholders | 1,224.32 - 1,326.34 | Decrease 1,702.28 - 1,600.26 (Decline 58.17% - 54.68%) | 997.28 - 1,080.38 | Increase 421.65 - 504.75 (Growth 73.25% - 87.69%) | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 577.75 - 679.77 | Decrease 1,597.18 - 1,495.16 (Decline 73.44% - 68.75%) | 860.63 - 943.73 | Increase 558.29 - 641.39 (Growth 184.66% - 212.14%) | [Audit Status](index=1&type=section&id=(三)%20本次业绩预告未经注册会计师审计) - This performance forecast has not been audited by a certified public accountant[3](index=3&type=chunk) [Prior Period Performance](index=1&type=section&id=二、上年同期业绩情况) Statutory financial data for Q1-Q3 2024 is provided for comparative analysis against the current performance forecast 2024 Q1-Q3 and Q3 Performance (Statutory Disclosure) | Metric | Q1-Q3 2024 (Statutory, CNY 10,000) | Q3 2024 (Statutory, CNY 10,000) | | :------------------------------------------------ | :-------------------------------- | :-------------------------------- | | Net Profit Attributable to Shareholders | 2,926.60 | 575.63 | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 2,174.93 | 302.34 | [Main Reasons for Performance Change](index=2&type=section&id=三、本期业绩变化的主要原因) Q1-Q3 performance decline is attributed to increased expenses and non-recurring items, with Q3 recovery driven by product competitiveness and market demand - Reasons for performance decline in January-September 2025: - To enhance product market competitiveness, the company continuously increased investment, leading to significant year-on-year growth in **R&D expenses and management expenses**[6](index=6&type=chunk) - **Share-based payment expenses and inventory impairment provisions** increased year-on-year[6](index=6&type=chunk) - **Interest income decreased** year-on-year[6](index=6&type=chunk) - Reasons for performance recovery in Q3 2025: - The company's **product competitiveness gradually improved**[6](index=6&type=chunk) - **Downstream market demand relatively recovered**[6](index=6&type=chunk) [Risk Warning](index=2&type=section&id=四、风险提示) This performance forecast is preliminary and unaudited, thus investors are cautioned regarding associated investment risks - The company has not identified any significant uncertainties affecting the accuracy of this performance forecast[7](index=7&type=chunk) - This performance estimate is a preliminary calculation by the company's finance department based on its professional judgment and has not been audited by a certified public accountant[7](index=7&type=chunk) [Other Explanatory Notes](index=2&type=section&id=五、其他说明事项) Preliminary forecast data will be superseded by the official Q3 2025 report, urging investors to exercise caution - The forecast data is only preliminary; the specific and accurate financial data will be subject to the company's officially disclosed **Q3 2025 report**[8](index=8&type=chunk) - Investors are kindly advised to pay attention to investment risks[8](index=8&type=chunk)

Core Viewpoint - The company expects a significant decline in net profit for the first three quarters of 2025, with estimates ranging from 12.24 million to 13.26 million yuan, representing a year-on-year decrease of 58.17% to 54.68% [1] Financial Performance - The estimated net profit for the third quarter of 2025 is projected to be between 9.97 million and 10.80 million yuan, showing a year-on-year increase of 73.25% to 87.69% [1] - The increase in research and management expenses, along with higher share-based payment costs and inventory impairment provisions, negatively impacted the net profit for the first three quarters of 2025 [1] Market Dynamics - The company has been increasing its investment to enhance product competitiveness, which has led to a significant rise in R&D and management expenses compared to the previous year [1] - The recovery in performance for the third quarter of 2025 is attributed to improved product competitiveness and a relative rebound in downstream market demand [1]

Core Viewpoint - During the "14th Five-Year Plan" period, China's manufacturing industry is accelerating towards high-end, intelligent, and green development, with industrial robots becoming a key engine for industrial upgrading, as exemplified by Hangzhou Kaierda Welding Robot Co., Ltd. (hereinafter referred to as "Kaierda") [1] Group 1: Capital Empowerment - Kaierda officially listed on the Sci-Tech Innovation Board on October 25, 2021, marking a significant milestone in its development [2] - The company has utilized capital market support to optimize its capital structure and reduce financial risks, allowing for increased investment in R&D, market expansion, and production capacity [2] - The gradual implementation of IPO fundraising projects during the "14th Five-Year Plan" has led to significant changes, including the completion of the "Intelligent Welding Robot Production Line Construction Project" in 2023, enhancing production efficiency and scale [2] Group 2: Technical Breakthrough - A series of policies during the "14th Five-Year Plan" have driven technological innovation and industrialization in industrial robots, with domestic companies making breakthroughs in core components such as controllers and servo motors [4] - Kaierda has increased R&D investment, focusing on high-end welding technology and core industrial robot technology, accumulating 172 intellectual property rights, including 50 invention patents by June 30 of this year [4] - The company launched a new generation of industrial robot controllers, KC30, in 2023, significantly improving performance metrics such as speed and stability while reducing production costs [5] Group 3: Strategic Shift - Kaierda has identified humanoid robots as a new strategic direction, investing in key components and rapidly entering the industry to form a collaborative industrial chain [6] - The company invested 33 million yuan in June 2024 to acquire a 17.82% stake in Jingzhi Technology, which specializes in robotics dynamics analysis and control system design [6] - Kaierda's humanoid robot strategy focuses on enhancing its technological position in the supply chain, quickly entering niche markets through investments, and promoting technology transfer aligned with its core business [7]

Group 1 - The core viewpoint of the news highlights the recent trading performance and financial metrics of Kailida, indicating a decline in stock price and significant changes in financing activities [1][2] - As of October 9, Kailida's stock price fell by 1.12%, with a trading volume of 84.11 million yuan. The financing buy-in amount was 9.12 million yuan, while the financing repayment was 12.78 million yuan, resulting in a net financing buy of -3.66 million yuan [1] - The total financing and securities balance for Kailida reached 210 million yuan, accounting for 4.91% of its circulating market value, which is above the 80th percentile of the past year, indicating a high level of financing [1] Group 2 - As of June 30, the number of Kailida's shareholders decreased by 14.18% to 7,278, while the average circulating shares per person increased by 82.61% to 15,094 shares [2] - For the first half of 2025, Kailida reported operating revenue of 316 million yuan, a year-on-year decrease of 1.81%, and a net profit attributable to shareholders of 2.37 million yuan, down 89.94% year-on-year [2] - Since its A-share listing, Kailida has distributed a total of 107 million yuan in dividends, with 67.51 million yuan distributed over the past three years [3]

Core Viewpoint - The company Kailda's subsidiary, Kewili, has recently obtained a patent for a self-calibrating SOI-based MEMS three-dimensional force sensor and its manufacturing process, highlighting the company's advancements in sensor technology [1] Group 1 - The patent represents a significant technological achievement for the company, showcasing its capabilities in sensor technology [1] - The development of the self-calibrating sensor is an extension of the company's existing technological portfolio [1]

Core Viewpoint - The company is actively advancing the research and development of quartz resonant six-dimensional force sensors and MEMS piezoresistive six-dimensional force sensors, focusing on the application of MEMS technology in force/torque sensors to enhance product performance, stability, and reliability [1] Group 1 - The company's subsidiary, Kaiwei Li, is leading the R&D efforts in the specified sensor technologies [1] - The development process emphasizes the need for thorough preparation and improvement in product performance, stability, and reliability [1]

Company Overview - Kailida's stock price decreased by 2.12% on September 26, trading at 39.73 CNY per share with a total market capitalization of 4.365 billion CNY [1] - The company has seen a year-to-date stock price increase of 50.36%, with a 3.33% rise over the last five trading days and a 10.09% increase over the last 20 days [2] - Kailida's main business includes the research, production, and sales of welding robots and industrial welding equipment, with revenue composition of 68.86% from industrial robots, 23.78% from industrial welding equipment, and 7.36% from other sources [2] Financial Performance - For the first half of 2025, Kailida reported a revenue of 316 million CNY, a year-on-year decrease of 1.81%, and a net profit attributable to shareholders of 2.365 million CNY, down 89.94% year-on-year [3] - The company has distributed a total of 107 million CNY in dividends since its A-share listing, with 67.506 million CNY distributed over the past three years [4] Shareholder Information - As of June 30, 2025, the number of Kailida's shareholders was 7,278, a decrease of 14.18% from the previous period, while the average circulating shares per person increased by 82.61% to 15,094 shares [3] - Among the top ten circulating shareholders, Huaxia CSI Robotics ETF is the fifth largest shareholder with 1.4928 million shares, marking its entry into the list [4]

Group 1 - The core viewpoint of the news is that Kailida's stock price increased by 5.54% to 40.58 CNY per share, with a total market capitalization of 4.458 billion CNY as of the report date [1] - Kailida specializes in the research, production, and sales of welding robots and industrial welding equipment, with its main business revenue composition being 68.86% from industrial robots, 23.78% from industrial welding equipment, and 7.36% from other sources [1] Group 2 - Among the top ten circulating shareholders of Kailida, Huaxia Fund's Huaxia CSI Robotics ETF (562500) entered the list in the second quarter, holding 1.4928 million shares, which is 1.36% of the circulating shares [2] - The Huaxia CSI Robotics ETF has a total scale of 14.471 billion CNY and has achieved a return of 37.46% this year, ranking 1110 out of 4222 in its category [2] - The fund manager of Huaxia CSI Robotics ETF is Hualong, who has a cumulative tenure of 3 years and 33 days, with the best fund return during this period being 96.93% [3]

Group 1 - The company held its first extraordinary general meeting of shareholders on September 16, 2025, with no rejected proposals [2][3] - The total share capital of the company is 109,858,870 shares, with 106,439,736 shares eligible for voting at the meeting [2] - The meeting was chaired by the chairman, Mr. Hou Runshi, and followed the voting procedures as per the Company Law and the company's articles of association [3] Group 2 - The meeting saw the attendance of 8 out of 9 directors, all 3 supervisors, and the board secretary, Mr. Chen Xianya [4] - A total of 7 proposals were approved, including the cancellation of the supervisory board and amendments to various internal management systems [5][6][7] - The proposals were passed with more than two-thirds of the voting rights held by attending shareholders [7] Group 3 - The company announced a half-year performance briefing scheduled for October 15, 2025, to discuss its operational results and financial status [9][10] - The briefing will be held online at the Shanghai Stock Exchange Roadshow Center, allowing investors to submit questions in advance [10][11] - Key personnel, including the chairman and general manager, will participate in the briefing to address investor concerns [13]