Core Insights - The actuator industry in China has established a complete industrial chain, with upstream focusing on raw materials and core technology components, midstream accelerating towards intelligent development, and downstream driven by traditional industries and emerging fields like robotics and renewable energy [1][5][9]. Industry Overview - Actuators are critical components in automation control systems, converting controller signals into mechanical actions to regulate production parameters [2][3]. - The actuator market is projected to reach 33 billion yuan in 2024 and 82 billion yuan by 2030, driven by technological upgrades and domestic replacements [1][13]. Upstream Development - The upstream sector includes key components like motors, reducers, and sensors, with domestic breakthroughs in motors and reducers, but a notable gap in high-end precision components like encoders [7][9]. - Domestic companies have made significant progress in servo motors and harmonic reducers, but high-end encoder markets remain dominated by international firms [7][9]. Downstream Demand - The demand for actuators is characterized by a dual structure of traditional and emerging markets, with industrial automation as the foundation and new energy and robotics as growth drivers [9][10]. - The humanoid robot sector is expected to see explosive growth, with the market projected to increase from approximately 2.4 billion yuan in 2025 to 25.4 billion yuan by 2030, highlighting the actuator's role as a core component [11][12]. Market Segmentation - The actuator market is segmented into electric, pneumatic, hydraulic, and special actuators, with electric actuators leading growth due to their advantages in smart applications [14][15]. - The electric actuator market is expected to reach 17.8 billion yuan by 2025, while pneumatic and hydraulic actuators maintain stable growth in their respective applications [14][15]. Competitive Landscape - The actuator industry features a diverse competitive landscape with foreign brands dominating high-end markets and domestic leaders making significant inroads through innovation and localization [15][16]. - Domestic brands are expected to capture 58% of the market share by 2024, with projections to exceed 70% by 2030, driven by technological advancements and market responsiveness [15][16]. Future Trends - The industry is set to evolve with a focus on technological innovation, market optimization, and industrial upgrades, emphasizing the integration of IoT and AI into actuator products [16][17]. - The market will see a shift towards high-end applications and a collaborative development model among core and supporting enterprises, enhancing overall competitiveness [18].

Core Insights - The automotive parts industry in Zhejiang is collectively transforming towards humanoid robotics, viewing it as a significant growth opportunity following the success of electric vehicles and intelligent driving [2][3][7] - The market for humanoid robots is projected to grow substantially, with an expected sales volume of 12,400 units and a market size of 6.339 billion yuan by 2025, and further growth anticipated by 2035 [3][4] Group 1: Industry Transformation - Zhejiang's automotive parts companies are rapidly entering the humanoid robotics sector, with over 100 related companies and more than 40 listed on the A-share market [2][3] - Companies like Junsheng Electronics have upgraded their strategies to "Automotive + Robotics Tier 1," marking the beginning of a new growth phase [2][3] - The collective shift is characterized by strategic partnerships, product launches, and international market expansion [2][3] Group 2: Market Potential - The humanoid robot market is seen as a "potential stock" by Zhejiang automotive parts companies, with a strong belief in its future profitability [3][4] - The commercialization of humanoid robots is accelerating, with significant orders and deliveries reported in 2025 [3][4] Group 3: Cost Reduction and Localization - The rise in domestic production of core components for humanoid robots is driving down costs, with examples showing a 25% reduction in the cost of certain models compared to 2024 [5][6] - Companies are leveraging existing supply chains and production capabilities to reduce investment costs and enhance equipment utilization [6][7] Group 4: Technological Synergy - The transition to humanoid robotics is facilitated by the technological similarities between automotive parts and robotics, allowing for seamless integration and reduced R&D costs [7][8] - The existing expertise in sensors, motors, and mechanical transmission systems within the automotive sector is being effectively transferred to the humanoid robotics field [7][8] Group 5: Collaborative Ecosystem - The high overlap of customers between the automotive and humanoid robotics sectors enhances market entry opportunities for companies [8] - The collaborative nature of the supply chain is enabling companies to tap into existing channels for humanoid robot component procurement [8]

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。 浙江万里扬股份有限公司（以下简称"公司"）收到公司控股股东万里扬集 团有限公司（以下简称"万里扬集团"）关于其所持有的公司部分股份在中国证 券登记结算有限责任公司办理了股份解除质押以及质押登记手续的通知，具体情 况如下： 一、股东股份解除质押基本情况 | 股东名称 | 是否为控股 股东或第一 大股东及其 | 本次解除质 押股份数量 | 占其所 持股份 | 占公司 总股本 | 起始日 | 解除日期 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 一致行动人 | （股） | 比例 | 比例 | | | | | 万里扬集团 | 控股股东 | 74,000,000 | 18.66% | 5.64% | 2023年 | 2025年 | 招商银行股份有 | | 有限公司 | | | | | 2月16日 | 12月25日 | 限公司金华分行 | | 万里扬集团 | 控股股东 | 15,000,000 | 3.78% | 1.14% | 2023年 | ...

证券日报网讯 12月24日，万里扬在互动平台回答投资者提问时表示，公司非常关注和重视公司股价的 市场表现情况。 （文章来源：证券日报） ...

Group 1 - The core viewpoint of the news is that Wanliyang's stock has experienced fluctuations, with a current price of 9.25 yuan per share, reflecting a year-to-date increase of 51.64% [1] - As of November 28, the number of shareholders for Wanliyang decreased by 9.18% to 39,300, while the average circulating shares per person increased by 10.11% to 33,345 shares [2] - For the period from January to September 2025, Wanliyang reported a revenue of 4.201 billion yuan, a year-on-year decrease of 2.14%, while the net profit attributable to shareholders increased by 32.58% to 341 million yuan [2] Group 2 - Wanliyang has distributed a total of 2.079 billion yuan in dividends since its A-share listing, with 525 million yuan distributed over the past three years [3] - As of September 30, 2025, Hong Kong Central Clearing Limited is the eighth largest circulating shareholder of Wanliyang, holding 21.4289 million shares, an increase of 2.4749 million shares from the previous period [3]

Core Viewpoint - Wanliyang's stock price increased by 2.48% on December 19, with a trading volume of 175 million yuan, indicating positive market sentiment despite a net financing outflow [1] Group 1: Financial Performance - For the period from January to September 2025, Wanliyang reported operating revenue of 4.201 billion yuan, a year-on-year decrease of 2.14% [2] - The company's net profit attributable to shareholders reached 341 million yuan, reflecting a year-on-year increase of 32.58% [2] - Cumulative cash dividends since the A-share listing amount to 2.079 billion yuan, with 525 million yuan distributed over the past three years [2] Group 2: Shareholder and Market Activity - As of November 28, the number of shareholders for Wanliyang was 39,300, a decrease of 9.18% from the previous period [2] - The average number of circulating shares per shareholder increased by 10.11% to 33,345 shares [2] - On December 19, the financing balance for Wanliyang was 474 million yuan, accounting for 3.98% of the market capitalization, which is above the 80th percentile of the past year [1] Group 3: Business Overview - Wanliyang, established on October 22, 2003, and listed on June 18, 2010, specializes in the research, production, and sales of automotive gearboxes and other automotive components [1] - The main revenue composition includes automotive gearboxes and parts (89.64%), other businesses (5.33%), energy storage and power trading (4.53%), and financial leasing (0.50%) [1]

证券代码：002434 证券简称：万里扬 公告编号：2025-063 浙江万里扬股份有限公司 关于为下属子公司提供担保的进展公告 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。 一、担保概述 浙江万里扬新能源驱动有限公司最近一年经审计的主要财务数据如下： | 项 目 | 2024年12月31日 | | --- | --- | | 资产总额 | 409,437.22 | | 负债总额 | 320,770.56 | | 净资产 | 88,666.66 | | | 2024年度 | | 营业收入 | 244,902.24 | | 利润总额 | 13,213.91 | | 净利润 | 11,713.55 | 单位：万元 浙江万里扬股份有限公司(以下简称"公司")于2025年5月13日召开的2024年 度股东大会审议通过了《关于为下属子公司提供担保的议案》，为保证下属子公司 的经营发展需要，公司同意为下属子公司向银行、非银行机构申请综合授信额度 提供担保，担保额度不超过人民币38亿元，公司可以在担保总额度内根据各子公 司实际需要互相之间调整担保额度。具体内容详见巨潮资讯 ...

证券代码：002434 证券简称：万里扬 公告编号：2025-062 浙江万里扬股份有限公司 关于为下属子公司提供担保的进展公告 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。 一、担保概述 浙江万里扬股份有限公司(以下简称"公司")于2025年5月13日召开的2024年 度股东大会审议通过了《关于为下属子公司提供担保的议案》，为保证下属子公司 的经营发展需要，公司同意为下属子公司向银行、非银行机构申请综合授信额度 提供担保，担保额度不超过人民币38亿元，公司可以在担保总额度内根据各子公 司实际需要互相之间调整担保额度。具体内容详见巨潮资讯网上的相关公告。 二、担保进展情况 根据公司下属子公司浙江万里扬新能源驱动有限公司的经营需要，公司和北 京银行股份有限公司杭州分行于2025年12月15日签署了《最高额保证合同》，为浙 江万里扬新能源驱动有限公司在北京银行股份有限公司杭州分行的最高本金额度 为人民币15,000万元的债务提供连带责任保证担保，有效期自2025年12月15日至 2026年12月14日。 公司类型：有限责任公司 经营范围：新能源汽车驱动总成、电机 ...

Core Viewpoint - Zhejiang Wanliyang Co., Ltd. has decided to waive its preferential subscription rights for capital increase in its associate company, Zhejiang Wanliyang Energy Technology Co., Ltd., which will allow Wanliyang Group to become the largest shareholder after the capital increase [1][3][12]. Summary by Sections 1. Overview of Waiving Subscription Rights - The company has approved the waiver of its preferential subscription rights for a capital increase in its associate company, Wanliyang Energy, which focuses on energy storage station investment and operation [1][3]. - Wanliyang Energy plans to raise funds through capital increase to support its business development and improve its financial structure, with an assessed value of RMB 739.96 million as of June 30, 2025 [1][10]. 2. Details of the Capital Increase - Wanliyang Group will invest RMB 133 million to subscribe for an additional registered capital of RMB 38 million in Wanliyang Energy, increasing its stake from 34.95% to 44.65% post-capital increase [2][3]. - The registered capital of Wanliyang Energy will rise from RMB 216.78 million to RMB 254.78 million after the capital increase [3]. 3. Impact on Shareholding Structure - Following the capital increase, the company's ownership in Wanliyang Energy will decrease from 47.05% to 40.03%, but it will remain an associate company [3][12]. - Wanliyang Group's increased stake is expected to enhance Wanliyang Energy's development through resource integration and brand support [12][13]. 4. Financial Implications - The net asset value of Wanliyang Energy was reported at RMB 206.28 million, with a post-investment valuation of RMB 891.73 million after the capital increase [10]. - The company believes that waiving the subscription rights aligns with its long-term strategic focus on its core business, which is the development of automotive transmission systems [13]. 5. Independent Board Review - The independent board meeting approved the waiver of subscription rights, confirming that the decision aligns with the company's operational needs and long-term strategy [14][15]. - The independent directors noted that the transaction complies with relevant laws and regulations and does not adversely affect the company's financial status [14].

Core Viewpoint - The article highlights the strategic partnership between Wanliyang and Shaanxi Automobile Group, showcasing Wanliyang's three key products in the medium and heavy truck market, emphasizing their technological advancements and market positioning [1][9][11]. Product Overview - Wanliyang showcased three flagship products: 12AG280, 10AG120, and 4EG280, which are positioned to meet diverse market needs in the medium and heavy truck sectors [1][4]. - The 12AG280 is a heavy-duty AMT with a transmission efficiency of 99.8% and a fuel-saving rate exceeding 3%, targeting the mainstream heavy truck market [4]. - The 10AG120 is the first integrated 10-speed AMT for medium trucks, achieving a B10 lifespan of over 2 million kilometers and a fuel-saving rate of 6% [4]. - The 4EG280 is an electric drive system for new energy heavy trucks, featuring a peak torque of 22,000 N-m and a motor efficiency of 97% [4]. Competitive Advantages - Wanliyang's products leverage international advanced technologies and components from top suppliers, ensuring high performance and reliability [4][5]. - The company offers competitive pricing, providing products at approximately 70% of the cost of imported brands while maintaining comparable performance [14][17]. - Wanliyang's rapid response capability allows for quick product development, with new products being launched in as little as 3-6 months [17]. Market Strategy - The partnership with Shaanxi Automobile signifies a deeper collaboration, enhancing Wanliyang's position as a key supplier in the heavy truck market [11][12]. - Wanliyang aims to cover all energy types and tonnage categories, transitioning from a component supplier to an industry innovator [12][18]. - The company is focused on breaking the monopoly of foreign brands in the AMT market, promoting the adoption of automatic transmissions in medium and heavy trucks [12][18]. Industry Impact - Wanliyang's advancements are expected to significantly influence the domestic heavy truck market, shifting the perception of local brands from being secondary players to key competitors [18].