Summary of the Conference Call for 新时达 Company Overview - **Company**: 新时达 - **Industry**: Robotics and Control Systems Key Points and Arguments 1. Business Development and Product Launches - 新时达 is accelerating the development and commercialization of humanoid robots, planning to launch the 巨轮智能通用控制器 and complete machine products by the end of 2025, with a welding robot solution already showcased [2][3][4] - The company’s current business segments include elevator control (global second), robot control (top ten in China), and general control and drive, with revenue contributions expected to be 20%, 24%, and 47.4% respectively in 2024 [2][9] 2. Financial Performance and Projections - Expected net profits for 新时达 from 2025 to 2027 are projected to be 13 million, 84 million, and 190 million yuan, respectively, indicating a significant turnaround and a compound annual growth rate (CAGR) of approximately 290% [4][14][18] - Revenue is anticipated to recover from over 3 billion yuan to over 5 billion yuan, with net profit margins potentially reaching 5% to 10% [5][18] 3. Impact of 海尔's Acquisition - 海尔's acquisition has led to a restructuring of the shareholding, with an expected increase in ownership to 26%-27% and voting rights to 42% by the end of 2025, reflecting strong support for 新时达's future [2][6][10] - The management team has been largely replaced with 海尔 executives, enhancing operational efficiency and strategic execution [6][10] - A 10 billion yuan investment fund for embodied intelligence has been established by 海尔, facilitating product development and ecosystem collaboration [6][10] 4. Market Position and Competitive Advantages - 新时达 holds a strong market position in elevator control and is ranked fourth among domestic brands in SCARA industrial robots [9] - The company has a 30-year history in motion control, providing a competitive edge in the humanoid robot sector [3] 5. Future Growth Opportunities - The humanoid robot market is expected to be substantial, driven by a global population of 8 billion, with significant applications in both household and industrial settings [3] - The company is also expanding into semiconductor robotics, with orders expected from leading domestic semiconductor equipment manufacturers by mid-2025 [2][13] 6. Risks to Monitor - Investors should be aware of potential risks including a downturn in downstream demand, integration challenges with 海尔, and slow progress in embodied intelligence development [19] 7. Specific Developments in Robotics - The company is focusing on a wheeled configuration for its embodied robots, with plans to switch to legged designs, aiming to complete prototype development by the end of 2025 [15] - Key target applications include adaptive sorting systems, smart welding, and flexible automation for PCB quality inspection [15] 8. Financial Ratios and Valuation - Projected price-to-earnings (PE) ratios for 2025, 2026, and 2027 are 1,043, 156, and 69, respectively, indicating a potential undervaluation based on future growth prospects [8][18] Conclusion - 新时达 is positioned for significant growth in the robotics sector, bolstered by 海尔's strategic support and a robust product development pipeline, despite facing certain market risks and challenges.

Core Viewpoint - New Times is recognized as a leading domestic robot manufacturer, with an upward turning point in its motion control business, and the acquisition by Haier is expected to accelerate the development of embodied intelligence and humanoid robots beyond expectations [1] Group 1: Market Position and Product Development - The company has a strong market share, ranking second globally in elevator controllers and fourth domestically in SCARA industrial robot shipments [1] - The company is a pioneer in domestic automation product substitution and has a high degree of integration in its offerings [1] - The company broke the foreign monopoly in elevator control early on and became the first domestic manufacturer to achieve integrated robot drive and control [1] Group 2: Future Prospects and Strategic Positioning - Future developments in embodied intelligence and humanoid robots can draw references from companies like Tesla, Xiaomi, and Xpeng [1] - The company possesses foundational capabilities in motion control technology and industrial robot manufacturing, while Haier contributes with its large model capabilities, data collection, and application scenarios [1] - The company aims to establish a complete industrial chain for embodied intelligence and humanoid robots, integrating "big brain + body + application scenarios + sales system" [1] Group 3: Financial Performance and Order Growth - The company is experiencing continuous improvement in gross and net profit margins [1] - There is a consistent increase in semiconductor robot order volumes [1] - The company has upgraded its rating to "Buy" based on these positive indicators [1]

Group 1 - The A-share market is experiencing a strong performance in robotics concept stocks, with several companies hitting the daily limit up [1] - Notable performers include Si Hui Fu Shi, which reached a 20% increase, and Jie Chuang Zhi Neng, which rose nearly 11% [1][2] - Other companies such as Chongda Technology, Shanghai Hu Gong, and Xin Shi Da also saw their stocks hit the limit up, indicating a bullish trend in the sector [1] Group 2 - The table lists various companies with their stock performance, including Si Hui Fu Shi with a market cap of 6.257 billion and a year-to-date increase of 69.77% [2] - Jie Chuang Zhi Neng has a market cap of 4.565 billion and a year-to-date increase of 87.03% [2] - Industrial Fu Lian stands out with a market cap of 1,171.1 billion and a remarkable year-to-date increase of 179.66% [2]

机器人概念表现活，首开股份触及涨停，新时达涨停、东山精密、江苏北人涨超6%。 ...

Investment Rating - The investment rating for the company is upgraded to "Buy" [6] Core Views - The company is a leading domestic robotics firm, with an upward turning point in its motion control business. The acquisition by Haier is expected to accelerate the implementation of embodied intelligence and humanoid robots beyond expectations [1][2] Summary by Sections 1. Exceeding Expectations - The market perceives the company's growth and profitability as weak. However, the company is a leader in control technology with strong product iteration capabilities. It ranks second globally in elevator controllers and fourth in domestic SCARA industrial robot shipments. The company has pioneered domestic replacements in automation products and achieved integration in robot drive control [2] - Haier's acquisition is expected to benefit the company as it continues to push for embodied intelligence. Haier has established a robotics division, initiated a 10 billion yuan investment fund for embodied intelligence, formed an innovation alliance, and launched household robots [2][31] - The company plans to launch an embodied intelligent welding solution in September 2025 and an intelligent controller by the end of 2025, with a focus on humanoid robots [3][37] 2. Management and Profitability Improvement - Haier's shareholding and voting rights in the company are expected to increase significantly, potentially raising its stake from 10% to 26.83% and voting rights from 29.24% to 42.47% after a planned capital increase [4][24] - Key management positions are held by members from Haier, which is anticipated to enhance operational efficiency and profitability through Haier's effective management model [5][29] 3. Financial Forecasts and Valuation - The company is projected to achieve net profits of 0.13 billion yuan, 0.84 billion yuan, and 1.90 billion yuan from 2025 to 2027, reflecting a significant turnaround and growth rates of 567% and 128% respectively. The compound annual growth rate (CAGR) for this period is estimated at approximately 290% [11] - The company's price-to-earnings (PE) ratios are expected to be 949, 142, and 62 for the years 2025 to 2027 [11] 4. Revenue and Profit Structure - The company has three main business segments: elevator control, robot control, and general control and drive. In 2024, the revenue from these segments is expected to be 6.6 billion yuan, 15.9 billion yuan, and 8.0 billion yuan respectively [14] - The gross margin for the elevator control segment is relatively high, with improvements noted in the margins for general control and robot segments [22]

9月9日，新时达涨3.96%，成交额8.20亿元。两融数据显示，当日新时达获融资买入额1.08亿元，融资 偿还6616.54万元，融资净买入4136.74万元。截至9月9日，新时达融资融券余额合计3.99亿元。 分红方面，新时达A股上市后累计派现4.79亿元。近三年，累计派现0.00元。 机构持仓方面，截止2025年6月30日，新时达十大流通股东中，华夏中证机器人ETF（562500）位居第 五大流通股东，持股1039.33万股，相比上期增加186.12万股。鹏华碳中和主题混合A（016530）位居第 七大流通股东，持股846.58万股，相比上期增加351.02万股。香港中央结算有限公司退出十大流通股东 之列。 责任编辑：小浪快报 截至8月29日，新时达股东户数4.58万，较上期减少2.82%；人均流通股11561股，较上期增加2.90%。 2025年1月-6月，新时达实现营业收入16.44亿元，同比增长8.45%；归母净利润186.54万元，同比增长 109.95%。 融资方面，新时达当日融资买入1.08亿元。当前融资余额3.99亿元，占流通市值的3.42%，融资余额超 过近一年80%分位水平，处于高位。 ...

华夏中证机器人ETF（562500）成立日期2021年12月17日，最新规模144.71亿。今年以来收益33.47%， 同类排名1039/4222；近一年收益86.71%，同类排名563/3798；成立以来收益3.7%。 华夏中证机器人ETF（562500）基金经理为华龙。 截至发稿，华龙累计任职时间3年20天，现任基金资产总规模429.26亿元，任职期间最佳基金回报 96.99%， 任职期间最差基金回报-15.08%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 9月9日，新时达涨5.02%，截至发稿，报17.78元/股，成交2.76亿元，换手率3.03%，总市值117.89亿 元。 资料显示，上海新时达电气股份有限公司位于上海市嘉定区思义路1560号，成立日期1995年3月10日， 上市日期2010年12月24日，公司主营业务涉及电梯控制与驱动类产品以及电梯物联网、节能与工业传动 类产品、机器人与运动控制类产品等工业自动化控制产品的研发、制造和 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 公司董事王春祥先生保证向本公司提供的信息内容真实、准确、完整，没有虚假记载、误导性陈述或重 大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 上海新时达电气股份有限公司（以下简称"公司"）于2025年5月15日披露了《关于董事、高级管理人员 减持股份的预披露公告》（公告编号：临2025-043），公司董事王春祥先生计划在上述公告披露之日起 15个交易日后的3个月内以集中竞价交易或大宗交易方式减持本公司股份合计不超过1,000,000股（占本 公司总股本比例0.15%）。 公司于近日收到董事王春祥先生出具的《关于上海新时达电气股份有限公司股份减持计划期限届满的告 知函》，截至本公告披露日，本次减持计划期限已届满，王春祥先生未实施减持，现将有关情况公告如 下： 一、股东减持情况 特此公告 上海新时达电气股份有限公司董事会 2025年9月9日 二、其他相关说明 1、王春祥先生本次股份减持计划严格遵守了《中华人民共和国证券法》《上市公司股东减持股份管理 暂行办法》《上市公司董事和高级管理人员所持本公司股份及其变动管理规则》《深圳证券交易所股 ...

证券代码：002527 证券简称：新时达 公告编号：临2025-076 一、股东减持情况 上海新时达电气股份有限公司 关于董事减持计划期限届满暨未实施减持的公告 公司董事王春祥先生保证向本公司提供的信息内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 公司于近日收到董事王春祥先生出具的《关于上海新时达电气股份有限公司 股份减持计划期限届满的告知函》，截至本公告披露日，本次减持计划期限已届 满，王春祥先生未实施减持，现将有关情况公告如下： 1、股东减持股份情况 本次减持计划期限内，王春祥先生未实施减持，所持公司股份数量未发生变 化。 | 股东名称 | 股份性质 | | 本次减持前持股情况 | | 本次减持后持股情况 | | --- | --- | --- | --- | --- | --- | | | | 股数（股） | 占总股本比例 | 股数（股） | 占总股本比例 | | 王春祥 | 合计持有股份 | 14,027,953 | 2.12% | 14,027,953 | 2.12% | | | 其中：无限售条件股份 | 3,506,988 | 0.53% | 3,506,988 | 0.53% | ...

Group 1 - The core viewpoint of the news is that Shanghai Xinda Electric Co., Ltd. has seen a stock price increase of 5.2%, reaching 17.20 yuan per share, with a total market capitalization of 11.405 billion yuan [1] - The company was established on March 10, 1995, and went public on December 24, 2010, focusing on the research, manufacturing, and sales of industrial automation control products, including elevator control and drive products, IoT for elevators, energy-saving and industrial transmission products, and robotics [1] - The revenue composition of the company includes general control and drive products and systems at 53.91%, robotics products and systems at 19.35%, elevator control products and systems at 18.30%, and other products at 8.44% [1] Group 2 - From the perspective of fund holdings, Haifutong Fund has a significant position in Xinda, with its Haifutong CSI 2000 Enhanced Strategy ETF holding 8,900 shares, accounting for 0.95% of the fund's net value, making it the third-largest holding [2] - The Haifutong CSI 2000 Enhanced Strategy ETF has achieved a year-to-date return of 43.95% and a one-year return of 92.34%, ranking 439 out of 4222 and 327 out of 3795 in its category, respectively [2] - The fund manager, Li Ziw, has been in charge for 2 years and 207 days, with the fund's total asset size at 2.92 million yuan and a best return of 71.14% during his tenure [3]