Investment Rating - The industry investment rating is "Overweight" [3][30]. Core Viewpoints - The humanoid robot industry is expected to see significant growth, with a projected cumulative demand of approximately 2 million units by 2030, indicating a critical breakthrough phase from 0 to 1 [6][24]. - The report highlights key companies to watch in the humanoid robot supply chain, including Tier 1 suppliers and core component manufacturers [6][24]. - The report emphasizes the importance of technological advancements in various sectors, including photovoltaic equipment, energy storage, semiconductor equipment, automation, and hydrogen energy, suggesting a favorable outlook for leading companies in these areas [6][25][26]. Summary by Sections Humanoid Robots - Recent developments include the launch of the first domestic AI-powered exoskeleton robot by Zhiyuan, which features advanced technology for various applications [7]. - The first batch of 220 humanoid robots was delivered by Chery, showcasing their capabilities in customer service and sales guidance [17]. - The World Humanoid Robot Sports Competition is set to take place in August, highlighting the growing interest and innovation in the humanoid robotics field [23]. Photovoltaic Equipment - The penetration rate of N-type photovoltaic technology is accelerating, strengthening the competitive edge of leading companies [25]. - The report suggests focusing on companies that are innovating in cost-reduction technologies and expanding production capacity [25]. Energy Storage - Favorable policies are expected to drive growth in both generation-side and user-side energy storage [25]. - Companies like Xingyun Co. are positioned to benefit from strategic partnerships in the energy storage sector [25]. Semiconductor Equipment - The semiconductor equipment market is projected to reach $140 billion by 2030, with a focus on domestic alternatives due to low current localization rates [26]. - The report recommends monitoring companies that are well-positioned to capitalize on this trend [26]. Automation - The market for industrial tools is expected to grow from approximately 40 billion to 55.7 billion by 2026, with opportunities for leading companies to gain market share through increased concentration and import substitution [26]. Hydrogen Energy - The report highlights the potential of green hydrogen in achieving carbon neutrality, with a focus on companies that integrate the hydrogen supply chain [25].

彭立强、王楠楠 （三）现场检查人员 中信证券股份有限公司 关于海目星激光科技集团股份有限公司 2024 年度持续督导工作现场检查报告 根据《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等有 关法律、法规的规定，中信证券股份有限公司（以下简称"中信证券"或"保荐 人"）作为正在对海目星激光科技集团股份有限公司（以下简称"海目星""公 司""上市公司"）进行持续督导工作的保荐人，对 2024 年度（以下简称"本 持续督导期间"）的规范运作情况进行了现场检查，现就现场检查的有关情况报 告如下： 一、本次现场检查的基本情况 （一）保荐人 中信证券股份有限公司 （二）保荐代表人 彭立强、韩铮 （四）现场检查时间 2025 年 4 月 27 日、2025 年 4 月 28 日、2025 年 4 月 30 日 （五）现场检查内容 现场检查人员对本持续督导期内发行人公司治理和内部控制情况、信息披露 情况、公司的独立性以及与实际控制人及其他关联方资金往来情况、募集资金使 用情况、关联交易、对外担保、重大对外投资情况、经营状况等方面进行了现场 检查，具体检查内容详见本报告"二、本次现场检查主要事项及意见"。 （六 ...

Group 1 - The core viewpoint of the articles highlights the recent patent acquisition by Haimuxing Laser Technology Group Co., Ltd., showcasing its innovation and technical strength in the laser and automation manufacturing sector [1][2] - The newly authorized utility model patent, titled "Reflective Film Attachment Mechanism and Reflective Film Attachment Equipment," was granted on April 4, 2025, under application number CN202420178705.1 [1] - The patent involves a reflective film attachment mechanism that includes feeding components, support blocks, cutting components, and pressing wheel components, designed to enhance the precision and efficiency of reflective film attachment [1] Group 2 - Since 2025, Haimuxing Group has achieved a remarkable performance in patent acquisition, with a total of 111 new patents authorized, representing a 12.12% increase compared to the same period last year [2] - The company invested 476 million yuan in research and development in 2024, reflecting its commitment to continuous innovation and development [2] - Haimuxing Group's products are widely used across various industries, including lithium batteries, photovoltaics, new displays, 3C, sheet metal, and semiconductor sectors, aiming to become a global leader in industrial laser and automation manufacturing [2]

Core Viewpoint - The A-share TOPCON battery concept continues to strengthen, with several companies experiencing significant stock price increases, indicating a positive market sentiment towards this sector [1] Company Performance - Baida Precision and Xing Shuai Er both reached the daily limit increase, indicating strong investor interest and confidence in their performance [1] - ST Quanwei saw an increase of over 8%, reflecting a robust market response [1] - Other companies such as Yingjie Electric, Yujing Co., Baoxin Technology, and Haimeixing also experienced stock price increases, showcasing a broader trend of growth within the sector [1]

Group 1 - The A-share market indices opened lower but rose throughout the day, with all indices showing positive performance. The CSI Robot Index increased by 0.77%, with notable gains from companies like Yingfeng Environment, which rose over 5%, and others such as Hechuan Technology, Haimeixing, Ruishun Technology, and Sanfeng Intelligent also experiencing upward movement [1] - The Robot ETF (562360) saw an increase of over 1% and exhibited premium trading at the beginning of the session. This ETF tracks the CSI Robot Index, which includes stocks from system solution providers, digital workshop and production line integrators, automation equipment manufacturers, and related companies to reflect the performance of the robotics industry [2] - A significant event is scheduled for August 15-17, where the world's first comprehensive competition for humanoid robots, the World Humanoid Robot Sports Competition, will take place at the National Stadium and National Speed Skating Hall. The first batch of competition events has been confirmed, including three categories and 19 events [2] Group 2 - According to Dongxing Securities, the market is experiencing a revival in trading enthusiasm following a pre-holiday period of low-volume gains. The introduction of major policies at this juncture is expected to enhance market activity in May. With market indices returning to pre-trade war levels, there is a renewed focus on external factors following the earnings disclosure period. The basic fundamentals and policy landscape are becoming clearer, with short-term external factors showing improvement, leading to a decrease in market uncertainty and a potential rise in risk appetite [2] - The technology sector, particularly those focused on artificial intelligence and robotics, is expected to maintain a strong position, while consumer sectors are also anticipated to become a significant market focus as related policies continue to be implemented [2]

Summary of Haimeixing Conference Call Company Overview - **Company**: Haimeixing - **Industry**: Lithium-ion battery, photovoltaic, medical devices, and plastic welding technology Key Points Financial Performance - In 2024, Haimeixing achieved revenue of 4.525 billion yuan, with a net profit attributable to shareholders of -163 million yuan. In Q1 2025, revenue was 539 million yuan, with a net profit of -189 million yuan [3][5][50] - New orders in 2024 were approximately 5 billion yuan, representing a year-on-year growth of 4.5%. As of March 31, 2025, the company had a backlog of orders exceeding 9.5 billion yuan, with Q1 2025 new orders exceeding 3 billion yuan [2][3][9] Order Structure and Growth Drivers - In Q1 2025, lithium battery business accounted for 75%-85% of new orders, while photovoltaic and 3C businesses accounted for 15%-20% and approximately 10%, respectively [2][9] - The growth in orders is primarily driven by the lithium-ion battery sector, with significant contributions from leading domestic and international companies expanding their production capacity [2][10] - Overseas orders are heavily concentrated in the lithium battery sector, accounting for 60%-70% of total overseas orders, with notable demand from Europe and Southeast Asia [2][10] Research and Development - Haimeixing invested 480 million yuan in R&D in 2024, representing 10.7% of revenue, supported by a research team of 1,978 people [2][7] - The company is focusing on laser technology innovation and expanding applications in downstream sectors to enhance market competitiveness [8][16] New Business Developments - In the medical sector, Haimeixing launched a high-power tunable mid-infrared femtosecond solid-state laser and obtained registration for a portable UV therapy device [2][6][40] - The acquisition of Laidan Group's plastic welding business is expected to enhance capabilities in automotive, consumer electronics, and medical applications [2][11][12][25] Cost Management and Cash Flow - The company has implemented measures to improve efficiency and restructure personnel, saving over 200 million yuan annually [2][8] - Operating cash flow is expected to remain healthy throughout 2025, supporting stable performance growth [2][8] Challenges and Risks - The primary reasons for the company's losses include supply-demand imbalances in the lithium and photovoltaic industries, leading to decreased revenue and profit margins [5][18] - Inventory impairment assessments have been conducted, with a balance of approximately 4.27 billion yuan as of December 2024, increasing to 4.9 billion yuan by March 2025 [15] Future Outlook - Haimeixing aims to continue focusing on laser technology innovation and expanding its market presence, particularly in the lithium battery and medical device sectors [8][10] - The company anticipates a 50% growth in 3C business orders in 2025, driven by projects related to consumer batteries [3][36] Market Expansion - The company is actively expanding its presence in the Chinese market, with plans to open a customer service center in Shanghai by May 2025 [13] - Collaborations with major clients in the automotive and robotics sectors are underway, leveraging advanced laser welding technology [14][27] Conclusion - Haimeixing is positioned for growth with a robust order backlog and strategic investments in R&D and new business areas. However, it faces challenges related to market volatility and operational efficiency that need to be managed for sustainable development [50]

Core Viewpoint - The A-share market is experiencing a significant rebound, particularly in the robotics sector, with the Robotics ETF (159213) showing strong performance and a notable increase in component stocks [1][2]. Group 1: Robotics Market Performance - The Robotics ETF (159213) has surged over 2% since its listing, with a trading volume of 534,500 and a turnover rate of 26.43% [1]. - The underlying index of the Robotics ETF has increased by 2.14%, with nearly all component stocks rising, including notable gains from companies like Xinjie Electric and Haimeixing [1]. Group 2: Positive Developments in Robotics - Recent advancements in AI technology, such as the release of DeepSeek-Prover-V2-671B and Alibaba's Qwen3 model, are expected to enhance robotics capabilities [2]. - The successful application of exoskeleton robots in Taishan Scenic Area demonstrates the practical benefits of robotics, including significant physical exertion savings for users [2]. - The eighth Digital China Construction Summit has signed 455 key digital economy projects with a total investment of 228 billion yuan, indicating strong governmental support for robotics and AI [2]. - Industrial robot production in cities like Hangzhou and Ningbo has seen growth rates of 62.7% and 63.2%, respectively, while service robot production in Suzhou has surged by 165% [2]. Group 3: Human-like Robots and Industry Growth - Human-like robots are viewed as a transformative product, with significant investments from leading companies accelerating the industrialization process [3][4]. - The human-like robot industry in China is projected to grow rapidly, reaching a market size of 3.91 billion yuan in 2023, with an annual growth rate of 85.7% [4]. - By 2026, the human-like robot market in China is expected to exceed 20 billion yuan, driven by increasing demand and technological advancements [4]. Group 4: Supply Chain and Component Demand - The demand for components such as precision screws and lightweight materials is anticipated to rise with the proliferation of human-like robots [5]. - The introduction of lightweight materials like PEEK is crucial for enhancing robot performance, with Tesla's Optimus-Gen2 robot demonstrating a weight reduction of 10 kg while improving speed [5]. - The market for planetary roller screws is expected to see significant growth, with projections indicating a potential increase in demand driven by human-like robot production [5][6]. Group 5: Investment Opportunities - The Robotics ETF (159213) provides investors with a comprehensive tool to access various segments of the robotics industry, including upstream hardware, midstream system integration, and downstream applications [7].

Financial Performance - In 2024, the company faced significant challenges due to a weak global economic recovery and market supply-demand conflicts, resulting in a sharp decline in performance[5]. - The company's operating revenue for 2024 was CNY 4,524,717,231.68, a decrease of 5.82% compared to 2023[31]. - The net profit attributable to shareholders for 2024 was CNY -163,068,194.77, representing a decline of 150.68% year-on-year[31]. - The basic earnings per share for 2024 was CNY -0.76, down 147.50% from 2023[33]. - The weighted average return on net assets for 2024 was -6.27%, a decrease of 21.01 percentage points from 2023[33]. - The cash flow from operating activities for 2024 was CNY -711,994,053.72, compared to CNY -993,064,982.05 in 2023[31]. - The company experienced a significant decline in net profit due to reduced earnings in 2024[34]. - The company plans not to distribute cash dividends or issue bonus shares for the 2024 fiscal year due to a negative net profit attributable to shareholders[16]. Global Expansion and Market Strategy - The establishment of four overseas subsidiaries in Switzerland, Germany, Canada, and Hungary has led to a breakthrough in high-quality orders from overseas clients, optimizing the order structure[6]. - The company has made significant progress in its globalization strategy, with new orders from overseas markets exceeding expectations at the beginning of 2025[10]. - The company is focusing on optimizing redundant processes and inefficient positions, while attracting high-level talent to respond more flexibly to market changes[8]. - The company plans to continue its market expansion and product development strategies in the upcoming periods[34]. - The company is committed to becoming a global leader in laser and automation technology, with a focus on customer-centric strategies and overseas market expansion in 2024[57]. Research and Development - The company successfully launched a groundbreaking high-power mid-infrared femtosecond solid-state laser, expanding its medical laser business[7]. - The R&D expenditure as a percentage of operating revenue was 10.67% in 2024, a decrease of 0.64 percentage points from the previous year[33]. - Total R&D investment for the year was approximately ¥482.93 million, a decrease of 11.10% compared to the previous year, with R&D expenses as a percentage of revenue at 10.67%[112]. - The company has accumulated 1,075 authorized patents and 400 software copyrights as of December 31, 2024, with 392 new patents and 100 software copyrights granted during the reporting period[111]. - The company is focusing on expanding its market presence in the 3C industry and energy storage sectors through advanced technology development[115]. Product Development and Innovation - The signing of the industry's first mass production equipment order for lithium metal solid-state batteries demonstrates the company's leading position in technology[7]. - The company has developed a new BC large spot laser opening film equipment that combines high-precision laser graphic technology and high-efficiency dust removal technology, improving photovoltaic cell efficiency and performance[47]. - The company has successfully developed a fully automated assembly line for steel shell batteries with an efficiency of 15 PPM, positioning itself as a leader in the industry for various battery types[49]. - The company has developed laser technology applied in high-efficiency photovoltaic cells, achieving significant market share and establishing long-term collaborations with leading solar technology firms[99]. - The company is focusing on developing a new generation of femtosecond laser devices for ophthalmic surgery, with a pulse width of 300fs and a beam quality factor M2 of less than 1.3[127]. Market Trends and Industry Insights - The global smart manufacturing market is projected to reach $350 billion in 2024, with an expected compound annual growth rate of approximately 14% until 2032, highlighting significant industry growth potential[69]. - The market size of China's intelligent equipment manufacturing industry is expected to reach 3.6 trillion yuan in 2024, a significant increase of 72.2% from 2.1 trillion yuan in 2020[70]. - In 2024, the sales revenue of China's laser equipment market is projected to be 89.7 billion yuan, a year-on-year decrease of 1%, with an expected increase to 90.4 billion yuan in 2025[73]. - The production of energy storage lithium batteries in 2024 is projected to reach 185 GWh, showing an increase of over 80%[84]. - The newly installed photovoltaic capacity in China for 2024 is expected to be 277.17 GW, a year-on-year growth of 27.8%[89]. Financial Management and Investment - The company achieved a significant increase in financing cash flow, amounting to CNY 2,028.82 million, up 108.21% year-on-year[156]. - The company raised RMB 1,019.6 million through a private placement of 40 million shares at RMB 25.49 per share, with net proceeds of RMB 1,010.5 million after expenses[52]. - The company has implemented hedging strategies to manage foreign exchange risks as its overseas business grows[150]. - The company plans to invest ¥1,010,000,000 in a new high-end laser and intelligent equipment R&D center and manufacturing base[180]. - The company emphasizes the importance of compliance and effective fund management to ensure the successful execution of its fundraising projects[198]. Operational Efficiency and Cost Management - The company is focusing on improving management and operational efficiency through supply chain management, talent development, digitalization, and quality management, aiming for enhanced office efficiency and data transparency[57]. - The company is committed to optimizing cost management and enhancing operational efficiency through digital management and intelligent decision-making systems[197]. - The company aims to reduce unexpected downtime occurrences and durations by 50% through fault prediction and maintenance optimization[121]. - The company has achieved a production efficiency increase from 15 PPM to 23 PPM with the new cylindrical winding machine, significantly enhancing output capacity[120]. - Labor cost savings from automation reduced by 50%, improving equipment debugging output efficiency by over 80%[122].

2024 年营业收入普遍下滑，部分公司出现亏损 ： 大多数公司 2024 年营业收入同比出现 20%-50% 的 降幅， 仅 曼恩斯特、星云股份和纳科诺尔 等少数公司保持正增长。 利润方面， 大多数公司出于谨慎原则计提了较高减值，导致归母净利润同比降幅相较收入降幅扩大， 海 目星、利元亨、金银河和星云股份 等公司出现了亏损。 业绩下滑反映了 2024 年国内锂电下游市场需求 放缓，客户设备验收节奏有所延迟的情况。 关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤锂电 资讯~ 本文来源：鑫椤锂电 锂电设备公司已经于近期陆续公布了 2024 年及 2025 年一季度的财报。 #鑫椤锂电 整理了主要锂电设 备公司的营业收入和归母净利润表格如下。 | 公司名称 | | 营业收入 | | | 明母冷却酒 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 2024 (亿元) | 同比 | Q125 (1Z7C) | 目比 | 2024 (1770) | 同比 | Q125 (177) | 同比 | | 先导 ...

海目星激光科技集团股份有限公司 2024 年度独立董事述职报告 本人任职海目星激光科技集团股份有限公司（以下简称"公司"）独立董事，任职期间严 格按照《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》 （以下简称"《证券法》"）、《上海证券交易所科创板股票上市规则》《上市公司独立董事 管理办法》《海目星激光科技集团股份有限公司章程》（以下简称"《公司章程》"）和《海 目星激光科技集团股份有限公司独立董事制度》等有关规定和要求，诚信、勤勉、独立地履行 职责，积极出席相关会议，认真审议董事会各项议案，切实维护公司和公众股东的合法权益， 促进公司规范运作，充分发挥了独立董事及各专门委员会的作用。现将本人任职期间履行独立 董事职责的情况报告如下： 一、独立董事的基本情况 （一）个人工作履历、专业背景以及兼职情况 本人范文明，毕业于上海机械学院（现上海理工大学），获工学学士学位，后于浙江大学 完成企业管理专业研究生课程进修；中国光学学会薄膜专业委员会委员，广东省光学学会理事 会理事。历任机械工业部沈阳仪器仪表工艺研究所工程师、高级工程师、光学研究室主任、党 支部书记等职务，现任昂纳科技（深圳） ...