截至2025年6月6日收盘，大族激光（002008）报收于23.36元，较上周的22.99元上涨1.61%。本周，大族激光6月5日盘中最高价报23.58元。6月3日 盘中最低价报22.83元。大族激光当前最新总市值245.79亿元，在自动化设备板块市值排名5/79，在两市A股市值排名614/5148。 本周关注点 公司公告汇总 大族激光科技产业集团股份有限公司控股子公司深圳市大族数控科技股份有限公司于2025年5月30日向香港联合交易所有限公司递交了发行境外上 市股份（H股）并在香港联交所主板挂牌上市的申请，并在香港联交所网站刊登了本次发行上市的申请资料。本次发行上市尚需取得中国证监会 的备案、香港联交所及其他有关监管机构的批准等，并需综合考虑市场情况以及其他因素方可实施，存在一定的不确定性。 大族激光科技产业集团股份有限公司董事会近日收到公司管理与决策委员会副主任赵光辉先生的书面辞职报告，赵光辉先生因个人原因申请辞去 公司管理与决策委员会副主任职务。辞去上述职务后，赵光辉先生将继续在公司担任IT大客户市场总部总经理等其他职务。赵光辉先生辞职不会 对公司日常生产经营及管理活动产生影响。截至本公告披露日，赵光辉 ...

关于高级管理人员辞职的公告 证券代码：002008 证券简称：大族激光 公告编号：2025045 大族激光科技产业集团股份有限公司 关于高级管理人员辞职的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 大族激光科技产业集团股份有限公司（以下简称"公司"或"大族激光"） 董事会近日收到公司管理与决策委员会副主任赵光辉先生的书面辞职报告，赵光 辉先生因个人原因申请辞去公司管理与决策委员会副主任职务。辞去上述职务后， 赵光辉先生将继续在公司担任 IT 大客户市场总部总经理等其他职务。根据《中 华人民共和国公司法》等相关法律、法规及《公司章程》的规定，上述辞职报告 自送达董事会之日起生效，赵光辉先生辞职不会对公司日常生产经营及管理活动 产生影响。 截至本公告披露日，赵光辉先生持有公司股份 13,444 股，占公司总股本的 0.0013%。赵光辉先生所持有的公司股份将按照《深圳证券交易所股票上市规则》 《深圳证券交易所上市公司自律监管指引第 18 号——股东及董事、高级管理人 员减持股份》等规定之要求进行管理。 赵光辉先生在担任公司管理与决策委员会副主任期间恪尽职 ...

大族激光（002008）公告，公司管理与决策委员会副主任赵光辉因个人原因辞职，辞去该职务后将继续 担任IT大客户市场总部总经理等职务。赵光辉持有公司股份13444股，占总股本的0.0013%。赵光辉在 任职期间恪尽职守，公司对其贡献表示感谢。 ...

Group 1 - The core index of the CSI 500 Machinery Manufacturing Index is reported at 6318.26 points, showing a high opening and upward trend [1] - The CSI 500 Machinery Manufacturing Index has decreased by 0.04% in the past month, 4.51% in the past three months, and 0.90% year-to-date [2] - The index is designed to reflect the overall performance of different industry companies within the CSI 500 index, categorized into 11 primary industries, 35 secondary industries, and over 90 tertiary industries [2] Group 2 - The top ten weighted companies in the CSI 500 Machinery Manufacturing Index include Jianghuai Automobile (14.96%), Zhongkong Technology (6.94%), and Haomai Technology (6.21%) [2] - The market share of the CSI 500 Machinery Manufacturing Index holdings is 71.88% from the Shanghai Stock Exchange and 28.12% from the Shenzhen Stock Exchange [2] - The index holdings are entirely composed of the industrial sector, with a 100.00% allocation [2] Group 3 - The index sample is adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [3] - Weight factors are generally fixed until the next scheduled adjustment, with temporary adjustments made in response to changes in the CSI 500 index samples [3] - Special events affecting sample companies may lead to adjustments in the industry classification within the CSI 500 industry index [3]

证券研究报告/投资策略 机构调研、股东增持与公司回购策略周报（20250526-20250530） 投资要点 ➢ 机构调研热门公司梳理 近30天机构调研数前二十的热门公司有大族激光、周大生、曼卡龙、斯迪克、汇 川技术等。近5天机构调研数前二十的热门公司有大族激光、三友联众、周大生、 能辉科技、斯迪克等。近30天机构调研数前二十的热门公司中评级机构家数大于 或等于10家的有3家，分别为周大生、汇川技术和深南电路。深南电路、台华新 材、大族激光2024年归母净利润相较2023年实现较大增长。 ➢ 本周A股上市公司重要股东增持情况 2025年5月26日至2025年5月30日，发布重要股东增持进展情况公告的公司共计 2家，分别为中国黄金和新华医疗，拟增持金额上下限均值占最新公告日市值比 例分别为1.76%和1.61%。 ➢ 本周A股上市公司回购情况 ➢ 2025/01/01-2025/05/30部分上市公司回购情况 2025年1月1日至5月30日，共计1491家公司发布回购进展情况公告，评级机 构家数大于10家（含10家）的共329家公司，其中回购比例较大，预计回购 金额上下限均值占预案日市值比例大于1%的有99家， ...

关于控股子公司大族数控向香港联交所递交境外上市 股份（H 股）发行并上市申请并刊发申请资料的公告 证券代码：002008 证券简称：大族激光 公告编号：2025044 大族激光科技产业集团股份有限公司 关于控股子公司大族数控向香港联交所递交境外上市 股份（H 股）发行并上市申请并刊发申请资料的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 大族激光科技产业集团股份有限公司（以下简称"公司"或"大族激光"） 近日接到公司控股子公司深圳市大族数控科技股份有限公司（以下简称"大族数 控"）之通知，获悉大族数控于 2025 年 5 月 30 日向香港联合交易所有限公司 （以下简称"香港联交所"）递交了发行境外上市股份（H 股）并在香港联交所 主板挂牌上市（以下简称"本次发行上市"）之申请，并在香港联交所网站 （www.hkexnews.hk）刊登了本次发行上市的申请资料。 大族数控本次发行上市事项之相关申请资料系按照香港证券及期货事务监 察委员会和香港联交所之要求编制和刊发，为草拟版本，且所载资料可能会适时 作出更新及修订。 大族数控本次发行上市尚需满足多项条件 ...

Core Viewpoint - The company Dazong Laser (002008) is experiencing a gradual recovery in its business operations due to improving demand in downstream industries, despite a significant drop in net profit compared to the previous year [1][2]. Group 1: Financial Performance - For Q1 2025, the company reported revenue of 2.944 billion yuan, a year-on-year increase of 10.84% [1][7]. - The net profit for the same period was 163 million yuan, a decrease of 83.47% year-on-year, primarily due to non-recurring gains from the previous year [1]. - Excluding non-recurring items, the net profit was 72 million yuan, reflecting a substantial increase of 1,388.37% year-on-year [1]. Group 2: PCB Business - The company's subsidiary, Dazong CNC, achieved revenue of 959 million yuan in Q1 2025, marking a year-on-year growth of 27.89% [2][7]. - The net profit for the PCB segment was 117 million yuan, an increase of 83.60% year-on-year, with a non-recurring net profit of 108 million yuan, up 90.14% [2]. Group 3: Market Trends and Strategy - The demand for PCB processing equipment is rebounding rapidly due to the recovery in the consumer electronics market and the surge in infrastructure needs [2]. - The company is expanding its overseas R&D and sales teams to capitalize on the diversification of manufacturing supply chains, particularly in Southeast Asia [2]. - The company is committed to innovation and product optimization to maintain competitiveness in the laser processing equipment market [3]. Group 4: Share Buyback and Pledge Information - As of February 6, 2025, the company completed a share buyback of 22,589,592 shares, accounting for 2.15% of its total share capital, with a total expenditure of approximately 500 million yuan [4]. - The controlling shareholder has pledged a significant portion of shares, with 75.33% of shares held being pledged [7].

Investment Rating - The report suggests a strong investment outlook for the humanoid robot industry, indicating a potential supply-demand gap for harmonic reducers by 2027, with a recommendation to focus on companies that have established relationships with leading clients, especially overseas [2][4]. Core Insights - The harmonic reducer industry is characterized by high technical barriers, primarily in gear design, material preparation, precision processing, and equipment. The leading overseas company, Harmonic Drive, excels in performance metrics compared to domestic manufacturers [2][17]. - The humanoid robot market is expected to experience explosive growth, with global humanoid sales projected to exceed 500,000 units by 2027, leading to a demand for 6 million harmonic reducers, alongside traditional demand reaching a total of 8.8 million units [2][42]. - The competitive landscape is rapidly evolving, with domestic manufacturers increasingly capturing market share in the humanoid segment, particularly by establishing connections with overseas clients [2][4]. Summary by Sections PART 1: Design, Materials, Process, and Equipment Create High Barriers for Harmonic Reducers - The harmonic reducer's high barriers stem from the complexity of gear design, material quality, and precision manufacturing processes, with a significant reliance on imported equipment [2][21]. - Key performance indicators for harmonic reducers include lifespan, transmission accuracy, efficiency, stiffness, temperature rise, and noise levels, with Harmonic Drive leading the industry [17][18]. PART 2: Humanoid Robots Drive Explosive Demand for Harmonic Reducers - The demand for harmonic reducers is primarily driven by the humanoid robot sector, with traditional industrial applications growing at a stable rate [2][42]. - The report forecasts that by 2025, the global demand for harmonic reducers will reach 2.27 million units, with China being the largest market [47][48]. PART 3: Deep Binding with Overseas Humanoid Clients Offers Broad Growth Space - Domestic manufacturers are increasingly binding with overseas clients, which enhances their growth potential in the humanoid robot market [2][4]. - The report highlights several recommended stocks, including Lide Harmonic and Keda Li, which are positioned well to capitalize on this growth [2][4].

Core Insights - The company reported a total revenue of 14.771 billion yuan for 2024, a year-on-year increase of 4.83%, and a net profit attributable to shareholders of 1.694 billion yuan, up 106.52% year-on-year [1] - In Q1 2025, the company achieved a revenue of 2.944 billion yuan, a year-on-year increase of 10.84%, but the net profit dropped by 83.47% to 163 million yuan [1] - The company has a vertical integration capability in smart manufacturing equipment, providing comprehensive solutions from basic components to complete equipment and process solutions [1] Revenue Breakdown - The information industry equipment business generated 5.486 billion yuan in revenue for 2024, a growth of 43.73% [1] - The consumer electronics equipment business remained stable with a revenue of 2.143 billion yuan [1] - General industrial laser processing equipment revenue reached 5.971 billion yuan in 2024, growing by 7.64%, with high-power laser cutting equipment contributing 2.963 billion yuan, a 26.67% increase [4] Market Trends and Innovations - AI technology is driving innovation in the consumer electronics sector, with the company responding to customized demands by offering products like laser welding machines and automated assembly equipment [2] - The company is expanding its overseas production, research, and sales teams to capture market opportunities arising from the diversification of the consumer electronics supply chain [2] - The lithium battery equipment sector is shifting focus from domestic to international markets, with the company collaborating with major clients to enhance competitiveness [3] Product Development and R&D - The semiconductor equipment business remains stable, with new product developments such as SiC crystal ingot laser debonding machines and laser de-bonding equipment receiving formal orders from major clients [3] - The company has successfully developed various new devices, including the fourth-generation semiconductor diamond laser debonding technology, filling a domestic technology gap [3] - The company launched the world's first 150KW ultra-high power cutting machine, enhancing its market presence in high-end applications [4] Future Outlook - The company is projected to achieve net profits of 1.699 billion yuan, 2.069 billion yuan, and 2.503 billion yuan from 2025 to 2027, with corresponding EPS of 1.61, 1.97, and 2.38 yuan [5] - The company is positioned as a leading provider of smart manufacturing equipment and solutions, with a strong vertical integration advantage [5]

Group 1: Company Performance - In Q1 2025, the company achieved revenue of 2.944 billion RMB, a year-on-year increase of 10.84% [3] - Net profit for the same period was 0.8347 billion RMB, a decrease of 1.63% due to non-recurring gains from the previous year [3] - Excluding non-recurring items, net profit increased by 1,388.37% to 0.72 billion RMB [3] Group 2: Business Operations - The subsidiary Dazhu CNC reported Q1 2025 revenue of 0.83 billion RMB, up 27.89% year-on-year [3] - The net profit for Dazhu CNC increased by 9.59% to 0.117 billion RMB, with a 90.14% rise in net profit excluding non-recurring items [3] - The demand for PCB processing equipment surged due to infrastructure needs and the recovery of the consumer electronics market [3] Group 3: Market Trends - The global semiconductor industry is expected to see a compound annual growth rate (CAGR) of 18.3% in the IC packaging substrate market over the next five years [4] - The PCB industry in Southeast Asia is projected to grow faster than mainland China due to supply chain diversification [3] Group 4: Product Development - The company launched a 150KW ultra-high power cutting machine, enhancing its market presence in high-end sectors [5] - A breakthrough was achieved with a self-developed three-dimensional five-axis cutting head, generating sales exceeding 50 million RMB in its first year [5] Group 5: Share Buyback and Pledge Situation - As of the announcement date, the company repurchased 22,589,592 shares, accounting for 2.15% of total share capital, with a total expenditure of approximately 500.24 million RMB [7] - The actual control and major shareholders have a share pledge ratio of 75.33% [8]