（文章来源：第一财经） 宁波华翔晚间公告，公司子公司宁波华翔启源科技有限公司与深圳市大寰机器人科技有限公司签订《战 略合作协议》，双方拟在通用人形机器人灵巧手的研发、制造和销售等领域加强合作。 ...

宁波华翔公告称，2025年12月22日，子公司华翔启源与大寰机器人签订《战略合作协议》，拟在通用人 形机器人灵巧手的研发、制造和销售等领域合作。大寰机器人法定代表人为孙杰，第一大股东孙杰持股 14.6567%，与公司无关联关系。协议有效期两年，对2025年经营业绩无重大影响，后续合作尚需协商 签正式协议。此外，公司2025年5月8日所签协议正常履行，未来三月控股股东等暂无减持计划。 ...

董事会公告 证券代码:002048 证券简称:宁波华翔 公告编号:2025-084 宁波华翔电子股份有限公司 关于子公司签署战略合作协议的公告 本公司全体董事、监事、高级管理人员保证公告内容真实、准确和完整，并 对公告中的虚假记载、误导性陈述或者重大遗漏承担责任。 特别提示： 1、本次签署的《战略合作协议》为双方基于战略合作意愿订立的框架性文件， 在后续开展具体合作业务时将另行商洽签订相关协议，具体合作事项及实施进展存在 不确定性，敬请广大投资者注意投资风险。 2、本协议对公司 2025 年度经营业绩不构成重大影响，对公司未来经营业绩的影 响将视具体业务的推进和实施情况而定。 一、合作签署概况 2025 年 12 月 22 日，宁波华翔电子股份有限公司（以下简称"公司"）子公司宁 波华翔启源科技有限公司（以下简称"华翔启源"）与深圳市大寰机器人科技有限公 司（以下简称"大寰机器人"）共同签订了《战略合作协议》，为加快建设通用机器人 产业，推动通用机器人供应链示范和产品创新双驱动，本着依法合规、优势互补、友 好协商、互利共赢的原则，双方拟在通用人形机器人灵巧手的研发、制造和销售等领 域加强合作。 本协议无需提交 ...

Group 1 - The core viewpoint of the article is that Ningbo Huaxiang (002048) is strategically focusing on commercial aerospace as an important application area for PEEK materials, and the related work will proceed as planned [1] Group 2 - The company has confirmed its commitment to the commercial aerospace sector, indicating it as a key strategic direction [1] - The company is actively engaging with investors through interactive platforms to provide updates on its strategic initiatives [1]

Group 1 - The company has officially started the production of the Zhiyuan Expedition series robots on July 1, 2025 [2] - The company responded to an investor inquiry regarding the progress of its collaboration with Zhiyuan Robotics [2] - The interaction took place on an investor communication platform [2]

Group 1 - The company, Ningbo Huaxiang (002048.SZ), has officially started the production of the Zhiyuan Expedition series robots on July 1, 2025 [1]

Core Viewpoint - Ningbo Huaxiang is intensifying its investment in the new energy components sector through the acquisition of a 40% stake in Shanghai Fengmei Power Systems Co., Ltd. from SAIC Volkswagen, aiming to enhance its transformation in the new energy power field [1][2][3] Group 1: Acquisition Details - The company will invest 2.12 billion yuan to acquire a 40% stake in Fengmei Power, while its controlling shareholder, Fengmei Holdings, will invest 3.18 billion yuan for a 60% stake, totaling 5.3 billion yuan for the entire acquisition [2] - Fengmei Power, established in May 2025, focuses on new energy battery pack assembly and core component manufacturing for engines, with total assets of 429 million yuan as of October 31, 2025 [2] Group 2: Financial Performance - In the first three quarters of 2025, Ningbo Huaxiang reported revenue of 192.24 billion yuan, a year-on-year increase of 5.99%, while net profit attributable to shareholders dropped by 87.62% to 89 million yuan [5] - The company's non-recurring net profit reached 1.071 billion yuan, up 63.72% year-on-year, indicating improved operational efficiency despite challenges [5] - Operating cash flow for the first three quarters was 1.679 billion yuan, reflecting a 58.66% increase, attributed to optimized payment processes and enhanced efficiency [5] Group 3: Strategic Focus - The company is shifting its focus away from European operations, which have been a financial burden, and is concentrating on North America as its primary overseas market [4] - Following the divestment of European subsidiaries, Ningbo Huaxiang aims to strengthen operational capabilities in North America to reduce losses and ensure overall business growth [4]

Group 1: Commercial Aerospace - SpaceX plans to conduct an IPO in 2026, aiming to raise several billion dollars, marking a new phase of commercialization and capitalization in the commercial aerospace industry [3] - China's recent successful launch of multiple satellites demonstrates its growing capabilities in space exploration, with an increasing frequency of launches expected to drive exponential growth in orders for upstream suppliers [3][4] - Companies like Guanglian Aviation are positioned to benefit significantly from the anticipated increase in commercial rocket launches, with potential revenue growth reaching tens of billions [4] Group 2: AI and Server Technology - The demand for AI computing power is escalating, with power consumption for AI models increasing significantly, leading to a shift from traditional air cooling to liquid cooling solutions [6] - Companies with rare certification for liquid cooling solutions are expected to see a revaluation of their worth due to the high technical barriers and increased average selling prices [6] - The AI server supply chain is evolving, with investments shifting towards companies that possess high technical barriers and rare certifications, which will likely enjoy valuation premiums [6][9] Group 3: Humanoid Robots - Tesla's Optimus has initiated the supplier review process, indicating that humanoid robots are on the verge of mass production, with Chinese companies expected to surpass Tesla in production scale by 2026 [7] - Key components such as lightweight materials and advanced sensors are critical for the development of humanoid robots, with companies like Ningbo Huaxiang collaborating on innovative materials [8][10] - Investment strategies should prioritize core components over complete systems, focusing on companies with high technical barriers and established supply chains [11] Group 4: Semiconductor Industry - The demand for high-bandwidth memory (HBM) is surging due to AI chip requirements, prompting a rapid evolution in HBM technology and a focus on domestic production capabilities [12] - Companies like Huahai Chengke are positioned to capture significant market share in the HBM materials sector, with potential revenues reaching 3 billion yuan [14] - The semiconductor investment landscape is shifting towards companies that can achieve substantial breakthroughs and secure orders in high-demand areas like HBM and advanced packaging [12] Group 5: Energy Sector - The energy market is experiencing a transition, with gas turbines expected to maintain strong demand through 2035, benefiting companies like Yingliu [15] - Nuclear fusion technology is advancing, with Chinese teams making significant progress, positioning companies like China Uranium Industry as future leaders in energy solutions [16] - Investment strategies should focus on both immediate opportunities in gas turbines and long-term potential in nuclear fusion technologies [16] Group 6: Optical Communication - The optical communication sector is transitioning from 800G to 1.6T technology, significantly increasing the demand for core materials like indium phosphide [17] - Companies that have achieved breakthroughs in domestic production of critical components for optical modules are expected to benefit from industry growth and market share increases [17][21] - Investment in optical communication should align with the dual themes of speed upgrades and domestic substitution [17] Group 7: Macro Variables - The Federal Reserve's recent interest rate cut is expected to create a more favorable liquidity environment for growth-oriented technology stocks, particularly those sensitive to interest rates [18][22] - The anticipated improvement in financing conditions will support technology companies in sectors like commercial aerospace, AI, and robotics that require substantial R&D investments [22] - Investors should focus on identifying companies with real technological barriers and clear growth paths in the evolving landscape of hard technology [23]

证券日报网讯12月10日晚间，宁波华翔（002048）发布公告称，公司与实控人控制的峰梅控股拟以现金 5.3亿元共同收购上汽大众所持峰梅动力100%股权，其中公司出资21200万元获40%股权，峰梅控股出资 31800万元获60%股权，预计2025年12月31日前完成工商变更。 ...

Group 1 - Dingyang Technology has launched the SPB3000X series source load simulator, which includes three models: SPB3100X, SPB3200X, and SPB3300X, featuring high precision, low ripple noise, and fast transient response [1] - Ningbo Huaxiang plans to acquire 40% of Fengmei Power's equity from SAIC Volkswagen, with the total acquisition involving 100% equity [2] - ST Jiaotou will implement a capital reserve conversion to increase share capital, with a total of 267 million shares to be converted [3] Group 2 - Century Huatong's subsidiary Guosheng Capital holds 19.5887 million shares of Moer Thread, accounting for 4.8968% of the total share capital before the IPO [4] - Meidike intends to introduce strategic investors to its subsidiary, with an investment of 200 million yuan at a pre-investment valuation of 2.18 billion yuan [5] - Baiyun Airport reported a 12.58% year-on-year increase in passenger throughput in November, totaling 7.3228 million passengers [6] Group 3 - Shengda Resources' subsidiary Honglin Mining has received approval for a three-month extension for trial production [7] - ST Yigou's subsidiary Suning International is expected to increase net profit by approximately 992 million yuan from the sale of eight subsidiaries [8][9] - Huayi Brothers reported overdue debts totaling 52.5 million yuan, exceeding 10% of its audited net assets for 2024 [10] Group 4 - Wanshun New Materials plans to acquire 100% of Eurofoil Luxembourg for 12.3889 million euros, enhancing its aluminum foil production capabilities [11] - Wuhan Tianyuan's subsidiary plans to invest approximately 600 million yuan in two energy storage projects [12] - Maike Biological's subsidiary has received a product registration certificate for a new automatic cell morphology analyzer [13] Group 5 - CATL intends to register for the issuance of bonds not exceeding 10 billion yuan, primarily for project construction and working capital [14] - Yuntianhua plans to acquire 100% of Tianyao Chemical for 36.8858 million yuan, enhancing its fine phosphorus chemical product line [15] - Fucheng Technology's controlling shareholder has reduced its stake by 1.0429 million shares [16] Group 6 - Zhili Fang plans to reduce its stake by up to 1.2% of the company's total shares [17][18] - Qianzhao Optoelectronics' chairman intends to reduce his stake by up to 0.02% [19] - Sanmu Group's subsidiary plans to sell 75 office properties for 24.1068 million yuan [20] Group 7 - Zhuangyuan Pasture's director plans to reduce his stake by up to 3% of the company's total shares [21] - Chongqing Pharmaceutical's subsidiary has signed a licensing agreement with Pfizer, potentially earning up to 50 million USD in milestone payments [22] - Yongqing Environmental Protection's shareholder plans to reduce its stake by up to 1% [23] Group 8 - Lens Technology plans to acquire 100% of PMG International Co., Ltd., enhancing its capabilities in server cabinet business [24] - Xinbang Pharmaceutical is facing prosecution for alleged unit bribery, but its control remains unchanged [25] - Meian Health's shareholders plan to reduce their stake by up to 3% of the company's total shares [26] Group 9 - Central Plaza's subsidiary has decided to suspend operations due to ongoing operational difficulties [27] - Dawn Co. plans to acquire 80% of Ningbo Aisikai for 516 million yuan, including the transfer of related patents and technologies [28] - Kweichow Moutai will distribute over 30 billion yuan in cash dividends based on its 2025 mid-term profit distribution plan [29] Group 10 - Baiyun Airport has received approval from the CSRC for a stock issuance to specific targets [29] - Zai Sheng Technology reported that revenue from aerospace-related products will account for less than 0.5% of its total revenue in 2024 [30]