2025 年 10 月 31 日-11 月 14 日投资者关系活动记录表 编号：2025007 | 投资者关系活动类别 | □特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | ■其他（电话会议） | | 参与单位名称及人员姓名 | 2025年10月31日 15:30-16:30 电话会议 | | | 广发基金管理有限公司、天治基金管理有限公 | | | 司、美林国际、摩根士丹利亚洲有限公司、美 | | | 林(亞太)有限公司、花旗环球金融亚洲有限公 | | | 司、凯基证券亚洲有限公司、法国巴黎银行、 | | | 香港上海汇丰银行有限公司、高盛（中国）证 | | 券 | 有 限 责 任 公 司 、 北 京 明 远 投 资 管 理 有 限 公 | | | 司、深圳市尚诚资产管理有限责任公司、富瑞 | | | 金融集团香港有限公司、中信建投证券股份有 | | | 限公司、信达证券股份有限公司、中国国际金 | | | 融股份有限公司、德银投资管理有限公司、瑞 | | | 银证券有限责任公司、汇丰前海 ...

11月14日，埃斯顿盘中下跌2.06%，截至09:35，报22.32元/股，成交4118.35万元，换手率0.23%，总市 值194.41亿元。 截至9月30日，埃斯顿股东户数11.43万，较上期减少7.92%；人均流通股6846股，较上期增加8.60%。 2025年1月-9月，埃斯顿实现营业收入38.04亿元，同比增长12.97%；归母净利润2900.39万元，同比增长 143.48%。 分红方面，埃斯顿A股上市后累计派现3.79亿元。近三年，累计派现7803.56万元。 机构持仓方面，截止2025年9月30日，埃斯顿十大流通股东中，香港中央结算有限公司位居第三大流通 股东，持股2564.47万股，相比上期增加644.66万股。易方达国证机器人产业ETF（159530）位居第四大 流通股东，持股1789.55万股，相比上期增加1498.96万股。华夏中证机器人ETF（562500）位居第五大 流通股东，持股1432.19万股，相比上期增加267.46万股。天弘中证机器人ETF（159770）位居第七大流 通股东，持股571.36万股，相比上期增加99.76万股。南方中证1000ETF（512100）位居第八 ...

11月13日，在江宁开发区埃斯顿智能制造示范车间内，工业机器人正在做各种场景应用展示。宁企埃斯 顿今年前三季度机器人总销量约25000台，市场份额达到10.5%，连续3个季度位列中国机器人市场第 一。 通讯员 陈欣苇 南京日报/紫金山新闻记者 冯芃 摄 ...

扎实稳重的底盘、粗壮有力的胳膊，冷酷的面孔下藏着各项"技能"……在南京天创智能科技股份有限公司具身智能体验中心，天魁防爆人形机器人无疑是 展示的各种机器人中的焦点。"天魁"系列防爆人形机器人，是全球首个获得IIC T6级防爆认证的工业危险环境下可作业机器人，填补了危化场景作业与应 急救援领域技术空白。 "它的单只手臂最大负载25公斤，是人形机器人里举重最强的，身高也是行业之最，全展开后最大可达3.3米。"天创机器人产品创新部总监诸德伟介绍， 搭载公司自研的切割、钻孔、打磨、抓取等16款专用工具，可以拧阀门、搬重物、拉闸刀、切割、破拆，做危险场景的"逆行者"。 挥舞巨臂，轻松举起千公斤重物；身负使命，毅然闯入爆炸性环境……这并非科幻电影，而是"南京智造"机器人谱写的现实篇章。2025世界智能制造大会 将于11月27日至29日在南京举行，国内外工业机器人与具身智能机器人企业集中亮相，将展示最新成果。作为东道主，南京在机器人产业已形成整机、关 键零部件以及系统集成应用的全链条体系。大会前夕，记者深入探访埃斯顿（002747）、天创机器人、南京工艺装备，见证"南京智造"如何以硬核科技舞 动智能未来。 工业机器人挥舞" ...

Core Insights - The 2025 World Intelligent Manufacturing Conference will be held in Nanjing from November 27 to 29, showcasing advancements in industrial and embodied intelligent robots [1] - Nanjing has developed a comprehensive ecosystem for the robotics industry, including complete machines, key components, and system integration applications [1] Group 1: Company Highlights - Estun Automation has over 90 robot models with payloads ranging from 3 kg to 1200 kg, achieving a market share of 10.5% in the first half of the year, ranking first in China's robot market for two consecutive quarters [2] - Estun's ER1200-3300, a six-axis robot with a payload of 1200 kg, represents a significant advancement in domestic heavy-duty robotics, featuring 100% localization of core components [2] - Estun's humanoid robot Codroid 02 is designed for both heavy lifting and precision tasks, showcasing the company's capabilities in embodied intelligence [3] Group 2: Industry Innovations - Tianchuang Robotics has developed the Tian Kui series of explosion-proof humanoid robots, the first globally to receive IIC T6-level explosion-proof certification, addressing technical gaps in hazardous environments [5] - The Tian Kui robot can lift up to 25 kg per arm and is equipped with 16 specialized tools for various tasks, demonstrating its versatility in extreme conditions [5] - Tianchuang is set to launch a new humanoid robot for inspection and operation, enhancing manufacturing flexibility and customization capabilities [6] Group 3: Component Manufacturing - Nanjing Craft Equipment Manufacturing specializes in producing critical components like ball screw assemblies and linear guides, essential for industrial machines and robots [7] - The company has developed numerous key components for humanoid and industrial robots, contributing to the overall robotics ecosystem [8] - Nanjing Craft Equipment has established itself as a professional manufacturer of key components in the robotics industry, focusing on product development and quality improvement [8]

Group 1: Quality and Innovation in Nanjing - Nanjing has become a significant player in the global wind turbine gearbox market, with one out of every three new gearboxes coming from the city [1] - The city has been recognized for ten consecutive years with the highest quality assessment rating in Jiangsu Province, emphasizing a development path that promotes innovation through quality [1] - The establishment of the "Zijin Mountain Triangular" technology transfer system accelerates the cultivation of new productive forces, integrating communication and sensing capabilities in 6G technology [2][3] Group 2: Robotics and Industrial Development - Nanjing is home to nearly 200 robotics-related companies, with Estun Robotics leading in industrial robot installations [3] - The city showcased over ten robotics companies at the 2025 World Robot Conference, highlighting its role as a hub for robotics innovation [3] - Nanjing has developed a comprehensive quality service model covering 15 high-tech parks and key industrial chains, contributing to the enhancement of core competitiveness in various sectors [3] Group 3: Low-Carbon Transformation - Traditional industries in Nanjing, such as steel and petrochemicals, are undergoing a green transformation, with significant investments in environmental projects [4][5] - Nanjing Steel has implemented a smart energy management platform, improving resource efficiency and integrating industrial production with ecological tourism [4][5] - China Petrochemical's photovoltaic project has transformed a former waste site into a solar power station, generating significant energy savings and emissions reductions [5] Group 4: Quality Improvement in Daily Life - Nanjing's quality improvements extend to consumer products, with companies like Weigang Dairy utilizing advanced technologies to enhance product safety and nutrition [6] - The city has established multiple quality-focused projects in urban construction, agriculture, and elder care, enhancing the quality of life for residents [6] - Initiatives such as the "Ning Rest Assured" consumption platform aim to create a safe and reliable consumer environment, reflecting the city's commitment to quality [6]

Core Insights - The Chinese industrial robot industry is experiencing significant growth, with production reaching 595,000 units in the first three quarters of 2025, a year-on-year increase of 29.8%, surpassing the total production for 2024 [1] - Domestic brands are gaining market share over foreign brands in the industrial robot sector, with exports of industrial robots increasing by 54.9% [1] - The localization of key components such as controllers, servo systems, and reducers is enhancing cost efficiency and supply chain stability [1][3] Policy and Market Drivers - Multiple factors, including policies and demand, are driving the growth of the Chinese industrial robot industry, with initiatives like the "Robot+" application action plan promoting automation solutions [2] - The demand for automation solutions is increasing due to higher requirements for quality consistency and flexible manufacturing in the context of industrial upgrades [2] Rise of Domestic Robot Manufacturers - The success of domestic robot manufacturers is attributed to breakthroughs in core component technologies and a deep understanding of the local market [3] - Leading companies are enhancing their service strategies and responsiveness to customer needs, providing personalized technical support [3] - Acquisitions by top firms, such as Estun's purchase of UK-based TRIO and Germany's CLOOS, are strengthening their capabilities in high-end motion control and welding robots [3] Diverse Downstream Demand - The automotive sector remains a traditional market for industrial robots, driving demand for welding, handling, and painting processes [4] - The lithium battery manufacturing sector is increasingly utilizing robots for various tasks, including handling, assembly, and coating [4] - The electronics industry is also a significant area for robot applications, with rising automation needs in the 3C industry, particularly in chip and display manufacturing [4] AI Integration in Manufacturing - The integration of AI with components like vision systems and motion control algorithms is enhancing the spatial awareness and efficiency of industrial robots [5] - Generative AI is aiding in robot programming, making operations more flexible [5] - Competition in the industrial robot sector is shifting from individual device performance to overall cost-effectiveness of integrated hardware and software solutions [5] Performance Disparities in the Robot Sector - Leading companies are improving performance through technological advancements and cost control, while smaller firms face operational pressures [6] - Price competition in the existing market is impacting profitability for some manufacturers, leading to selective order management [6] - Companies with high technical barriers in the components sector are benefiting from increased market share due to domestic substitution [6] Investment Recommendations - The competitiveness of the Chinese industrial robot industry is improving through differentiated strategies and continuous innovation, with a focus on leading companies like Huichuan Technology and Estun, as well as component firms like Greentech Harmonic [7]

Transaction Overview - The company approved a proposal to transfer equity in a subsidiary during its board meeting, allowing its subsidiary, Nanjing Dingkong Electromechanical Technology Co., Ltd., to transfer a total of 62% equity in Yangzhou Shuguang to Wuxi Xinhongye Cable Technology Co., Ltd. for a consideration of 31.62 million yuan [1] - The equity transfer includes a 48% stake from Dingkong Electromechanical for 24.48 million yuan, after which Dingkong Electromechanical will no longer hold any shares in Yangzhou Shuguang [1] Transaction Progress - Dingkong Electromechanical has received the first installment of the equity transfer payment amounting to 10.16222 million yuan, along with a previously received deposit of 2.32258 million yuan, totaling 12.48480 million yuan, which represents 51% of the total transfer price [3] - The business registration changes for Yangzhou Shuguang have been completed, confirming that Dingkong Electromechanical no longer holds any equity in the company [3]

同时，扬州曙光完成了本次股权转让的工商变更登记手续，鼎控机电不再持 有扬州曙光的股权。 1 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 一、交易概述 南京埃斯顿自动化股份有限公司（以下简称"公司"）第五届董事会第十八 次会议审议通过了《关于转让参股公司股权的议案》，同意公司及控股子公司南 京鼎控机电科技有限公司（以下简称"鼎控机电"）与无锡鑫宏业线缆科技股份 有限公司（以下简称"鑫宏业"）、曙光蓝风启（南京）科技合伙企业（有限合伙） （以下简称"曙光蓝风启"）、扬州曙光光电自控有限责任公司（以下简称 "扬 州曙光"）共同签署《股权转让协议》，鑫宏业以 31,620 万元对价受让鼎控机电、 曙光蓝风启合计持有的扬州曙光 62%股权。其中，鼎控机电转让持有的扬州曙光 48%股权交易价格为 24,480 万元，交易完成后，鼎控机电不再持有参股公司扬州 曙光的股权。 具 体 内 容 详 见 公 司 于 2025 年 10 月 21 日 披 露 在 巨 潮 资 讯 网 （http://www.cninfo.com.cn）的《关于转让参股公司股权的公告》（公告编号： ...

Core Viewpoint - The company announced that its subsidiary, Dingkong Electromechanical, plans to transfer a 48% stake in Yangzhou Shuguang for 244.8 million yuan, with the first payment of 101.6222 million yuan received, totaling 124.848 million yuan, which is 51% of the transfer price [1] Group 1 - Dingkong Electromechanical has completed the transfer of its equity stake in Yangzhou Shuguang, as the necessary business registration changes have been finalized [1] - The total amount received from the equity transfer includes an initial deposit of 23.2258 million yuan [1] - The transaction reflects a significant step in the company's strategic restructuring efforts [1]