Investment Rating - The investment rating for the company is "Buy-A" with a target price of 22.18 CNY, maintaining the rating [4]. Core Insights - The company has established a joint venture with Leju Intelligent to enter the robotics sector, aiming to enhance future competitiveness through a cluster strategy [2]. - The company has a strong order backlog, with significant growth in international markets, particularly in the Middle East and Southeast Asia [3]. - The company is actively expanding its production capacity, with several projects underway to increase output in various segments [3]. Summary by Sections Joint Venture and Market Expansion - The company has formed a joint venture named Dongfang Yuanqi Intelligent Robotics (Guangdong) Co., Ltd. with Leju Intelligent, focusing on service consumer robots and smart home devices [1]. - The partnership leverages the company's expertise in high-end intelligent equipment manufacturing and Leju's advanced technology in robotics [2]. Order Backlog and Financial Performance - The company reported a robust order backlog, which supports revenue growth for 2025. The international market has seen a significant increase in orders compared to the previous year [3]. - The subsidiary Fosber Asia has achieved record-high new orders and revenue in the first half of 2025, marking the best performance in nearly five years [3]. Capacity Expansion Projects - The company is progressing with multiple capacity expansion projects, including a green intelligent factory for high-end water propulsion products, expected to be operational in 2025 [3]. - The new factory for Fosber Asia, which commenced operations in June 2025, is designed to double production capacity [3]. Financial Projections - Revenue projections for 2025-2027 are estimated at 54.50 billion, 63.08 billion, and 73.28 billion CNY, with year-on-year growth rates of 14.07%, 15.75%, and 16.15% respectively [9]. - Net profit forecasts for the same period are 7.04 billion, 8.32 billion, and 10.07 billion CNY, reflecting growth rates of 40.60%, 18.29%, and 20.98% respectively [9].

Company Overview - Guangdong Dongfang Precision Science & Technology Co., Ltd. is located in Nanshan District, Shenzhen, Guangdong Province, and was established on December 9, 1996. The company was listed on August 30, 2011. Its main business involves the research, design, production, sales, and service of corrugated cardboard multi-color printing equipment [2] - The revenue composition of the company includes: 64.67% from corrugated board production lines, 22.44% from water power products and general machinery products, and 12.89% from corrugated carton printing and packaging equipment (including digital printing equipment) [2] - The company belongs to the machinery equipment industry, specifically in specialized equipment for printing and packaging machinery, and is associated with concepts such as military-civilian integration, aerospace and military industry, express delivery, drones, and nuclear fusion [2] Financial Performance - As of June 30, 2025, the company achieved an operating income of 2.159 billion yuan, a slight decrease of 0.10% year-on-year, while the net profit attributable to shareholders increased by 142.52% to 397 million yuan [2] - The company has distributed a total of 311 million yuan in dividends since its A-share listing, with 158 million yuan distributed over the past three years [3] Stock Market Activity - On September 26, the company's stock price fell by 2.02% to 18.39 yuan per share, with a trading volume of 719 million yuan and a turnover rate of 3.87%, resulting in a total market capitalization of 22.386 billion yuan [1] - Year-to-date, the company's stock price has increased by 91.16%, with a 4.13% rise over the last five trading days, a 2.18% decline over the last 20 days, and a 54.54% increase over the last 60 days [1] - The company has appeared on the "Dragon and Tiger List" five times this year, with the most recent appearance on August 25, where it recorded a net purchase of 717 million yuan, accounting for 22.60% of total trading volume [1] Shareholder Information - As of June 30, 2025, the number of shareholders was 151,000, a decrease of 6.01% from the previous period, with an average of 6,638 circulating shares per person, an increase of 6.40% [2] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the sixth largest, holding 14.5971 million shares, an increase of 6.1982 million shares from the previous period. New entrants include Southern CSI 1000 ETF and Huaxia CSI 1000 ETF, holding 7.8668 million shares and 4.6425 million shares, respectively [3]

Market Overview - The Shanghai Composite Index fell by 0.01% on September 25, with 7 out of the 28 sectors rising, led by Media and Communication sectors with increases of 2.23% and 1.99% respectively. The Textile and Apparel, and Comprehensive sectors saw the largest declines of 1.45% and 1.30% respectively [1] Capital Flow Analysis - The main capital outflow from the two markets totaled 28.778 billion yuan, with 5 sectors experiencing net inflows. The Electric Equipment sector led with a net inflow of 3.916 billion yuan and a daily increase of 1.60%, followed by the Computer sector with a net inflow of 2.545 billion yuan and a daily increase of 1.55% [1] Mechanical Equipment Sector Performance - The Mechanical Equipment sector declined by 0.32%, with a net capital outflow of 2.832 billion yuan. Out of 530 stocks in this sector, 141 rose, 5 hit the daily limit, and 385 fell. There were 198 stocks with net capital inflows, with Huagong Technology leading at 1.245 billion yuan, followed by Yingweike and Hezhuan Intelligent with inflows of 528 million yuan and 276 million yuan respectively [2] Top Gainers in Mechanical Equipment Sector - The top gainers in the Mechanical Equipment sector included: - Huagong Technology: +10.00%, turnover rate 10.27%, net inflow 1.245 billion yuan - Yingweike: +7.94%, turnover rate 12.13%, net inflow 528 million yuan - Hezhuan Intelligent: +9.98%, turnover rate 6.30%, net inflow 276 million yuan [2] Top Losers in Mechanical Equipment Sector - The top losers in the Mechanical Equipment sector included: - Huichuan Technology: -0.49%, turnover rate 2.87%, net outflow 378 million yuan - Dongfang Precision: -2.70%, turnover rate 10.83%, net outflow 250 million yuan - Zhongkong Technology: -0.34%, turnover rate 3.27%, net outflow 238 million yuan [4]

东方精工（002611.SZ）9月23日在投资者互动平台表示，目前，东方精工在"人工智能+机器人"领域已 有嘉腾机器人、若愚科技、乐聚机器人的"集群化战略投资"布局。公司目前持有嘉腾机器人19.8366%的 股权、若愚科技23.3111%的股权、乐聚机器人6.8329%的股权。 （记者 张明双） 每经AI快讯，有投资者在投资者互动平台提问：贵公司在公众号宣布与和而泰、乐聚机器人合资公司 聚焦机器人控制系统，为什么没有发布具体公告？贵司目前除了与乐聚机器人、嘉腾机器人合作之外， 还有与国内其他机器人合作吗？目前持有乐聚机器人及嘉腾机器人各参股比例占多少？ ...

证券日报网讯东方精工（002611）9月22日在互动平台回答投资者提问时表示，公司本次与乐聚智能(深 圳)股份有限公司、深圳和而泰（002402）智能控制股份有限公司共同出资成立合资公司，旨在聚焦人 形机器人智能控制系统的研发与生产，并非乐聚机器人产品的生产加工。目前，该合资公司尚未完成工 商注册。 ...

Core Viewpoint - The establishment of Dongfang Yuanqi Intelligent Robot (Guangdong) Co., Ltd. indicates a growing focus on the intelligent robotics sector in China, with a registered capital of 100 million RMB and a diverse range of manufacturing and development services offered [1] Company Summary - Dongfang Yuanqi Intelligent Robot (Guangdong) Co., Ltd. has been recently founded with a legal representative named Qiu Ye Zhi [1] - The company has a registered capital of 100 million RMB [1] - The business scope includes manufacturing service robots, information technology consulting, smart home devices, industrial control computers and systems, internet devices, industrial robots, and foundational software and applications for artificial intelligence [1] Shareholder Information - The company is jointly owned by Leju Intelligent (Shenzhen) Co., Ltd. and Guangdong Dongfang Precision Technology Co., Ltd. [1]

Group 1 - The establishment of Dongfang Yuanqi Intelligent Robot (Guangdong) Co., Ltd. on September 19, with a registered capital of 100 million RMB [1] - The company is involved in various sectors including service consumption robot manufacturing, information technology consulting, smart home device manufacturing, industrial control computer and system manufacturing, internet device manufacturing, industrial robot manufacturing, intelligent basic manufacturing equipment manufacturing, artificial intelligence software development, and research and development of intelligent robots [1] - The shareholders of the company include Leju Intelligent (Shenzhen) Co., Ltd. and Dongfang Precision (002611) [1]

Core Viewpoint - Dongfang Precision (002611.SZ) has stated on its interactive platform that it is currently not engaged in any business cooperation with Yushu Technology [1] Group 1 - Dongfang Precision confirmed the absence of any business collaboration with Yushu Technology [1]

Group 1 - The company, Dongfang Precision (002611.SZ), confirmed on September 22 that it currently has no business cooperation with Yushu Technology [1]

Group 1 - The company signed a strategic cooperation agreement with Leju Robotics on July 21, 2025, and the humanoid robot production line has passed small-scale verification and is set to enter mass production in Q3 2025 [1] - On September 15, 2025, the company officially signed an agreement with Leju Intelligent and Shenzhen Heertai Intelligent Control Co., Ltd. to jointly establish a joint venture focused on the research and production of intelligent control systems for humanoid robots [1] - The company claims to comply with legal and regulatory requirements regarding information disclosure related to the implementation of the cooperation [1]