Core Viewpoint - Haopeng Technology (001283.SZ) has successfully entered the supply chains of various service robots, companion robots, quadruped robotic dogs, and humanoid robots, leveraging its expertise in battery cells and years of experience in PACK module advantages to assist clients in rapidly completing design integration and accelerating new product launches [1] Group 1 - The company has a strong professional knowledge in battery cells [1] - The company has accumulated years of advantages in PACK modules [1] - The company is now part of multiple client supply chains in the robotics sector [1] Group 2 - The company aids clients in quickly completing design integration [1] - The company accelerates the new product launch process for its clients [1]

Core Viewpoint - The company has successfully entered the supply chain of various types of service robots, including humanoid robots, leveraging its expertise in battery cells and PACK module advantages [1] Group 1: Business Involvement - The company is involved in the robotics sector, specifically in collaboration with clients in service robots, companion robots, quadruped robotic dogs, and humanoid robots [1] - The company aims to assist clients in rapidly completing design integration and accelerating the launch of new products [1] Group 2: Future Outlook - The company plans to enhance its product offerings to better serve brand clients and meet their performance iteration needs as the diversity of robotic applications increases [1]

Core Viewpoint - The company emphasizes its commitment to core business operations and market demand, while also focusing on improving operational performance and driving intrinsic value growth [1] Group 1 - The company's stock price in the secondary market is influenced by multiple complex factors, including market environment and investor preferences [1] - The management team is dedicated to continuously enhancing operational performance and innovation [1] - The company aims to solidify its fundamentals and achieve better performance returns for shareholders and investors [1]

Summary of Haopeng Technology Conference Call Company Overview - **Company**: Haopeng Technology - **Date**: September 23, 2025 Key Industry Insights - **Industry**: Consumer Electronics, Battery Technology, AI Products, Robotics - **Market Segments**: PC, Wearable Devices, Mobile Phones, Digital Photography, AI Glasses, Robotics Core Points and Arguments 1. **Revenue Growth**: Haopeng Technology aims for a 20% annual revenue growth, benefiting from steady growth in core businesses such as PC, wearable devices, mobile phones, and digital photography, alongside emerging products like AI glasses and robots [2][3][4] 2. **Profitability Recovery**: Since 2025, the overall profitability has improved, with production capacity utilization increasing by approximately ten percentage points quarter-over-quarter in Q3 compared to Q2. The company targets a net profit margin of 7-9% in the next 2-3 years [2][4][5] 3. **Operational Efficiency**: The company has implemented organizational adjustments and ceased leasing its Shenzhen factory to mitigate relocation impacts, aiming to enhance production efficiency and reduce costs through increased orders and customer integration [2][6] 4. **High-End Client Collaboration**: In the small battery sector, Haopeng has established a closed-loop collaboration with leading clients, driving technological advancements in conventional, high-spec, semi-solid, and solid-state batteries [2][7] 5. **Product Launches**: New products, including AI glasses and robots, are set to be launched in the second half of 2025, with a focus on high-value products expected to boost gross margins [3][8] 6. **Business Structure Optimization**: The company plans to reorganize its business structure and product strategy to focus on advantageous areas and potential growth sectors, aiming for a scale of 10 billion RMB [4][9] 7. **Market Share and Technology Cooperation**: Haopeng anticipates an increase in high-end clients contributing to revenue, optimizing customer structure, and enhancing scale effects [7][9] 8. **Battery Product Pricing**: The average selling price of batteries is approximately $2 per unit, with new silicon-based anode materials expected to enhance gross margins significantly [13][14] 9. **Solid-State Battery Development**: Haopeng has commenced mass production of semi-solid batteries and plans to complete prototypes of solid-state batteries by the end of 2025, targeting applications in wearable devices and low-altitude economies [20][23] 10. **Robotics Market Potential**: The company has entered the robotics sector, focusing on AI companion robots and industrial robots, with significant market potential anticipated in healthcare and service industries [24][28] Additional Important Insights - **Client Base**: Haopeng's major clients include domestic automotive startups and North American companies, with significant orders expected from these markets [11][12] - **Future Revenue Expectations**: Basic revenue growth is projected at 20% for 2026, excluding additional growth from AI and robotics [23] - **Investment Opportunities**: The company invites investors to visit its facilities for a deeper understanding of its operations and growth potential [28]

Core Insights - Haopeng Technology's stock price has declined for three consecutive days, with a total drop of 8.61% during this period, currently trading at 80.62 CNY per share [1] - The company specializes in the research, design, manufacturing, and sales of lithium-ion and nickel-hydrogen batteries, with 88.37% of its revenue coming from consumer application scenarios [1] Company Overview - Haopeng Technology was established on October 8, 2002, and went public on September 5, 2022 [1] - The company's revenue breakdown is as follows: 88.37% from consumer application scenarios, 9.12% from energy storage solutions, and 2.51% from other sources [1] Shareholder Insights - The top circulating shareholder includes a fund from China Merchants Fund, which has recently entered the top ten shareholders with 929,500 shares, representing 1.61% of circulating shares [2] - The fund has incurred a floating loss of approximately 706.42 thousand CNY during the recent three-day decline [2] Fund Performance - The China Merchants CSI 2000 Index Enhanced A fund holds 102,800 shares of Haopeng Technology, accounting for 0.59% of the fund's net value, and has experienced a floating loss of about 78.13 thousand CNY during the recent decline [3] - The fund has achieved a year-to-date return of 44.64% and a one-year return of 93.31% [3]

Core Viewpoint - The company has established partnerships with several well-known brands in the mobile battery sector and is focusing on technological innovation to deepen market penetration [1] Group 1 - The company is leveraging the upgraded production capacity from the Tonghu Industrial-Academic-Research Base to gradually onboard more leading mobile phone brands [1]

Group 1 - The AI PC concept index rose by 1.05%, ranking fifth among concept sectors, with 23 stocks increasing in value, including Kosen Technology and Guanghe Technology hitting the daily limit up [1] - Notable gainers in the AI PC sector included Feirongda, Wentai Technology, and Changying Precision, which rose by 10.19%, 9.60%, and 9.04% respectively [1] - The sector experienced a net outflow of 1.631 billion yuan in capital, with 24 stocks seeing net inflows, and 10 stocks receiving over 100 million yuan in net inflows [2] Group 2 - The top net inflow stocks in the AI PC sector were Shenzhou Digital, with a net inflow of 393 million yuan, followed by Wentai Technology and Changying Precision with net inflows of 361 million yuan and 332 million yuan respectively [2][3] - The highest net inflow ratios were recorded by Taijia Co., Anfu Technology, and Shenzhou Digital, with net inflow ratios of 16.07%, 12.98%, and 9.75% respectively [3] - The overall market performance showed a mixed trend, with various sectors experiencing both gains and losses, highlighting the volatility in the market [2][5]

Core Insights - On September 17, a total of 27 stocks were involved with institutional investors, with 12 showing net buying and 15 showing net selling [1] - The top three stocks with the highest net buying by institutions were Haoen Qidian (¥95.98 million), Weilin Lithium (¥92.17 million), and Fengcai Technology (¥71.30 million) [1][2] - The top three stocks with the highest net selling by institutions were Junsheng Electronics (¥166 million), Shuanghuan Transmission (¥121 million), and Tianji Shares (¥113 million) [1][3] Institutional Buying Summary - Haoen Qidian saw a price increase of 14.22% with a net buying amount of ¥95.98 million [2] - Weilin Lithium experienced a price increase of 9.98% with a net buying amount of ¥92.17 million [2] - Fengcai Technology had a price increase of 20.00% with a net buying amount of ¥71.30 million [2] Institutional Selling Summary - Junsheng Electronics had a price decrease of 10.01% with a net selling amount of ¥166 million [3] - Shuanghuan Transmission saw a price increase of 8.24% but still had a net selling amount of ¥121 million [3] - Tianji Shares experienced a price decrease of 6.26% with a net selling amount of ¥113 million [3]

Company Performance - Haopeng Technology's stock price reached a historical high, increasing by 6.81% to 85.66 CNY, with a trading volume of 8.8 million shares and a transaction value of 735 million CNY, resulting in a turnover rate of 11.04% [2] - The latest total market capitalization of Haopeng Technology in A-shares is 8.561 billion CNY, with a circulating market value of 6.831 billion CNY [2] - The company reported a revenue of 2.763 billion CNY for the first half of the year, representing a year-on-year growth of 19.29% [2] - The net profit for the same period was 96.71 million CNY, showing a significant year-on-year increase of 252.49% [2] - Basic earnings per share were reported at 1.2900 CNY, with a weighted average return on equity of 4.03% [2] Industry Overview - The power equipment industry, to which Haopeng Technology belongs, experienced an overall increase of 2.61% [2] - Within the industry, 295 stocks saw price increases, with 7 stocks hitting the daily limit up, including Zhejiang Hengwei and Yijing Photovoltaic [2] - Conversely, 89 stocks experienced price declines, with ST Huaxi, Luokai Co., and Wanma Co. showing the largest drops of 4.62%, 4.09%, and 3.16% respectively [2]

Group 1 - The core point of the article is that Haopeng Technology's stock price increased by 6.21%, reaching a new high of 85.18 yuan per share, with a total market value surpassing 8.513 billion yuan [2] - The trading volume for Haopeng Technology reached 659 million yuan [2]