Group 1 - The company Xinsida (002527) reported that as of August 29, 2025, the total number of shareholders is 45,779 [1]

Core Viewpoint - The company, New Times Da (002527), clarified that its main business does not involve the express delivery industry, focusing instead on elevator control products, robotic products, and general control and drive products [1] Group 1 - The company's main business segments include elevator control products and systems [1] - The company also engages in robotic products and systems [1] - General control and drive products and systems are part of the company's offerings [1]

Core Viewpoint - The company, Xinsida (002527.SZ), clarifies that its main business does not involve express delivery services, focusing instead on elevator control products, robotics, and general control and drive products [1] Group 1: Business Segments - The company's primary business includes elevator control products and systems [1] - The company also engages in robotics products and systems [1] - Additionally, the company offers general control and drive products and systems [1]

Investment Rating - The investment rating for the company is "Buy" (首次) [3] Core Views - The report emphasizes the transformation and elevation of the company under Haier's leadership, focusing on integrated solutions and embodied intelligence [2][12] - The company is positioned as a leading domestic robot manufacturer, with a strong emphasis on upgrading from industrial robots to comprehensive solutions [7][12] - Financial forecasts indicate a significant recovery in profitability, with expected net profits turning positive in 2025 and substantial growth in subsequent years [3][7] Summary by Sections Financial Summary - Projected revenues for 2024A, 2025E, 2026E, and 2027E are 3,357 million, 3,543 million, 3,798 million, and 4,153 million respectively, with growth rates of -0.9%, 5.5%, 7.2%, and 9.3% [3] - Expected net profit for 2025E is 13 million, with a significant increase to 84 million in 2026E and 190 million in 2027E, reflecting growth rates of 567.3% and 127.6% respectively [3] - Earnings per share are projected to be -0.4, 0.0, 0.1, and 0.3 for the years 2024A to 2027E [3] Business Overview - The company is a leader in industrial automation and robotics, with a focus on elevator controllers and SCARA robots, holding the second position globally in elevator controllers and fourth in domestic SCARA robot shipments [20][25] - The report highlights the company's strategy to capture structural demand in the elevator industry, particularly in urban rail and renovation projects, with a projected growth in elevator procurement in 2025 [29][34] - The company is also expanding into semiconductor robotics, targeting high-end markets with low domestic production rates [41][42] Haier's Empowerment - Haier's acquisition is expected to enhance the company's product offerings and financial performance, leveraging Haier's industrial internet ecosystem to provide integrated manufacturing solutions [12][51] - The partnership is anticipated to improve operational efficiency and reduce costs through shared supply chains and management practices [63][66] - The report notes that Haier's investment of 12.19 billion yuan in new shares will bolster the company's liquidity and strategic initiatives [67] Profitability Forecast - The company is expected to achieve a compound annual growth rate (CAGR) of approximately 290% in net profit from 2025 to 2027, with price-to-earnings ratios projected at 860, 129, and 57 for the respective years [7][12] - The report indicates that the company's gross margin is expected to improve, as it benefits from Haier's global supply chain and operational efficiencies [66]

Group 1 - The core logic indicates that industrial robots are upgrading to comprehensive solutions, with profit revisions and potential implementation of embodied intelligence within the year [1] - The company is a leading domestic player in industrial robots, with significant market share in elevator controllers and SCARA industrial robots [1] - The company is a pioneer in domestic automation product substitution, breaking foreign monopolies in elevator control and achieving integrated robot drive control [1] Group 2 - The elevator controller market is expected to see long-term stable growth, driven by new demands in the elevator industry such as urban transit, old elevator upgrades, and international expansion [1] - The domestic elevator procurement market is projected to grow over 45% year-on-year by 2025, with significant increases in exports to regions like the Middle East and Southeast Asia [1] - The semiconductor robot sector has a low domestic substitution rate of less than 10%, with potential acceleration in equipment localization as domestic wafer fabs emerge [1] Group 3 - Haier's empowerment strategy includes enhancing automation products, improving financial metrics, and implementing embodied intelligence [2] - The company is expected to benefit from a recovery in industrial automation demand, with a projected 2.4% year-on-year growth in Q1 2025 [2] - The company plans to launch embodied intelligence controllers and machines in 2025, with support from Haier's industrial internet data and models [3] Group 4 - Profitability is expected to improve with optimized gross margins and cash flow, supported by Haier's global supply chain and efficient management [3] - The company anticipates significant net profit growth from 2025 to 2027, with a projected CAGR of approximately 290% [3] - Despite a high current valuation compared to peers, the company's semiconductor robot initiatives and Haier's involvement are seen as positive factors for future growth [3]

Group 1 - The humanoid robot sector in A-shares experienced explosive growth, with multiple stocks hitting the daily limit up, including Qin Chuan Machine Tool, Longxi Co., Giant Wheel Intelligent, and Zhejiang Rongtai [1] - Several listed companies disclosed progress in humanoid robot-related businesses, such as Jiechang Drive's development of linear actuators and joint modules, and New Times' plans to launch a general-purpose controller by the end of 2025 [2] - Zhejiang Rongtai announced a stock trading anomaly due to a cumulative price increase exceeding 20% over three trading days, confirming stable operations and no undisclosed significant information [3] Group 2 - New Times highlighted its unique position in the field of embodied intelligence, focusing on customized development for industrial applications and planning to provide complete machine products in humanoid robotics [2] - Zhejiang Rongtai has been active in the robotics sector, acquiring stakes in companies related to intelligent robotics and establishing a wholly-owned subsidiary in Jiaxing [3] - As of June 30, 2025, notable shareholder Zhang Jianping held 3.00% of Zhejiang Rongtai's shares, entering the top ten circulating shareholders [3]

Core Insights - Haier has completed its acquisition of a controlling stake in New Times, positioning itself as the actual controller of the company, focusing on long-term empowerment to enhance core competitiveness rather than short-term contract numbers [2] Group 1: Supply Chain Management - Haier and New Times will strengthen collaboration in the industrial automation sector, leveraging Haier's supply chain resources to optimize cost and quality control, thereby improving profitability [2] Group 2: Technological Collaboration - The partnership will utilize the resources of the Caos Industrial Internet ecosystem and New Times' technological foundation to focus on the research and development of core embodied intelligence technologies and their practical applications [2] Group 3: Market and Channel Expansion - Haier will leverage its market channels and brand influence to assist New Times in expanding both domestic and international markets, enhancing market promotion and brand building to increase market value [2] Group 4: Operational Management - The introduction of Haier's intelligent manufacturing management system and sharing of digital management experiences will aim to enhance the operational efficiency of New Times [2]

Group 1 - The company plans to launch a general controller for embodied intelligence by the end of 2025 [2] - The focus is on industrial applications, specifically developing customized humanoid robots with a wheeled configuration [2] - The product will feature modular design allowing for switching between wheeled and footed configurations, with prototype development progressing as scheduled [2] Group 2 - The main applications for the new product include adaptive grasping robot sorting systems, smart welding, flexible automated PCB quality inspection, and dual-arm collaborative assembly [2] - Data collection and training for these applications are expected to be conducted using the developed prototypes by the end of the year [2]

（文章来源：证券日报） 证券日报网讯新时达9月2日在互动平台回答投资者提问时表示，截至2025年8月29日，公司股东总户数 为45779户。 ...

（文章来源：证券日报） 证券日报网讯新时达9月2日在互动平台回答投资者提问时表示，在具身智能的赛道里，新时达是"脑"领 域的稀缺公司，也是较少实现了专用控制的横向迭代并且拓展到通用控制领域的控制公司。基于"小 脑"控制技术，未来公司在具身智能/人形机器人领域主要提供整机产品。 ...