证券代码：002979 证券简称：雷赛智能 公告编号：2025-063 深圳市雷赛智能控制股份有限公司 在东莞滨海湾新区投资设立全资子公司及 一、对外投资概述 建设华南区域总部及人形机器人核心零部件研发智造基地 项目的对外投资公告 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。 2024 年 11 月 29 日，深圳市雷赛智能控制股份有限公司（以下简称"公 司"）与东莞滨海湾新区管理委员会签订《项目投资协议》（以下简称"本协 议"），协议约定公司拟投资不低于 5 亿元（人民币，下同）在东莞滨海湾新 区建设雷赛智能华南区域总部及人形机器人核心零部件研发智造基地项目，项 目从事产业内容为用于智能装备核心零部件和人形机器人核心零部件研发生产 销售等，项目投资总额不低于 5 亿元（投资总额等相关指标尚需详尽的可行性 研究论证），具体内容详见 2024 年 12 月 3 日在公司指定信息披露媒体《中国 证 券 报 》 《 证 券 时 报 》 《 证 券 日 报 》 《 上 海 证 券 报 》 和 巨 潮 资 讯 网 (http://www.cninfo.com.cn)进 ...

证券代码：002979 证券简称：雷赛智能 公告编号：2025-061 深圳市雷赛智能控制股份有限公司（以下简称"公司"）第五届监事会第十 七次会议于 2025 年 10 月 27 日在公司会议室召开，本次会议通知于 2025 年 10 月 17 日以书面、电话沟通等形式发出。本次会议应出席监事 3 名，实际出席监 事 3 名，会议由监事会主席杨立望先生主持，公司全体监事出席了会议，符合国 家有关法律、法规及公司章程的规定。经全体监事一致同意，形成决议如下： 一、审议通过了《2025 年第三季度报告》 经审核，监事会认为：董事会编制和审核《2025 年第三季度报告》的程序 符合法律、行政法规和中国证监会的规定，报告内容真实、准确、完整地反映了 公司 2025 年第三季度经营的实际情况，不存在任何虚假记载、误导性陈述或者 重大遗漏。 《 2025 年 第 三 季 度 报 告 》 详 见 公 司 同 日 披 露 于 巨 潮 资 讯 网 （http://www.cninfo.com.cn）的相关公告。 表决结果：3 票同意，0 票反对，0 票弃权。 备查文件： 1、第五届监事会第十七次会议决议。 深圳市雷赛智能控制 ...

证券代码：002979 证券简称：雷赛智能 公告编号：2025-060 深圳市雷赛智能控制股份有限公司 第五届董事会第二十二次会议决议公告 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。 深圳市雷赛智能控制股份有限公司（以下简称"公司"）于 2025 年 10 月 27 日在公司会议室以现场方式召开第五届董事会第二十二次会议。本次会议通 知于 2025 年 10 月 17 日以书面、电话沟通等形式发出。会议应到董事 7 人，实 到 7 人。会议由董事长李卫平先生主持，监事会成员及有关高级管理人员列席了 会议。会议的召开符合《中华人民共和国公司法》和《公司章程》的有关规定。 经全体董事一致同意，形成决议如下： 一、审议通过了《2025 年第三季度报告》 董事会认为，公司《2025 年第三季度报告》内容符合法律、行政法规和中 国证监会的规定，报告内容真实、准确、完整地反映了公司经营的实际情况，不 存在任何虚假记载、误导性陈述或者重大遗漏。 本议案已经公司董事会审计委员会审议通过。 智造基地，符合公司长期"智能制造"主航道+"移动机器人"辅航道的战略规 划，有利于提 ...

Core Viewpoint - The company, Leisai Intelligent (雷赛智能), has announced the establishment of a wholly-owned subsidiary, Dongguan Leisai Robot Technology Co., Ltd., with an investment of 10 million yuan, to serve as the main implementation body for a project aimed at building a regional headquarters and a core component R&D and manufacturing base for humanoid robots in South China, with a total investment of no less than 500 million yuan [1]. Group 1 - The company will invest 10 million yuan to establish a wholly-owned subsidiary in Dongguan, Guangdong Province [1]. - The total investment for the project is set to be no less than 500 million yuan [1]. - The project aims to develop a regional headquarters and a core component R&D and manufacturing base for humanoid robots [1].

Core Insights - The company reported a third-quarter revenue of 409 million yuan, representing a year-on-year growth of 23.21% [1] - The net profit for the third quarter was 41.22 million yuan, showing a year-on-year increase of 47.62% [1] - For the first three quarters, the total revenue reached 1.3 billion yuan, with a year-on-year growth of 12.57% [1] - The net profit for the first three quarters amounted to 160 million yuan, reflecting a year-on-year increase of 11.01% [1]

Financial Performance - The company achieved operating revenue of CNY 1.3 billion for the year-to-date, representing a year-on-year increase of 12.57%, with Q3 alone generating CNY 409 million, up 23.21% year-on-year[5]. - Net profit attributable to shareholders reached CNY 160 million for the year-to-date, a growth of 11.01%, while Q3 net profit was CNY 41 million, increasing by 47.62% year-on-year[5]. - The company reported a basic earnings per share of CNY 0.51 for the year-to-date, reflecting an 8.51% increase, and CNY 0.13 for Q3, up 44.44% year-on-year[5]. - The company's total revenue for the current period reached CNY 1.300 billion, up from CNY 1.155 billion in the previous period, reflecting a growth of approximately 12.6%[28]. - The net profit for the current period is CNY 165,972,974.19, an increase of 12.4% compared to CNY 147,474,891.52 in the previous period[29]. - The total comprehensive income for the current period is CNY 165,941,968.63, compared to CNY 147,487,964.06, an increase of 12.5%[29]. Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 2.82 billion, an increase of 18.64% compared to the end of the previous year[5]. - The company's total liabilities as of September 30, 2025, were CNY 1.154 billion, up from CNY 873.864 million at the beginning of the period[27]. - The equity attributable to the parent company increased to CNY 1.643 billion from CNY 1.487 billion, showing a growth of approximately 10.5%[28]. - As of September 30, 2025, total assets amounted to CNY 2.822 billion, an increase from CNY 2.379 billion at the beginning of the period[26]. Cash Flow - The company’s cash flow from operating activities for the year-to-date was CNY 190.74 million, a significant increase of 61.85% compared to the same period last year[11]. - The cash flow from operating activities generated a net amount of CNY 190,737,930.57, compared to CNY 117,847,689.42 in the previous period, indicating a significant increase of 61.8%[30]. - The cash flow from investing activities resulted in a net outflow of CNY -241,202,821.70, worsening from CNY -42,856,199.20 in the previous period[30]. - The cash flow from financing activities generated a net inflow of CNY 180,238,858.59, compared to a net outflow of CNY -153,988,246.21 in the previous period[31]. - The company’s cash and cash equivalents rose to CNY 416.139 million from CNY 286.262 million, reflecting a growth of approximately 45.4%[26]. - The cash and cash equivalents at the end of the period amounted to CNY 416,138,696.18, up from CNY 279,409,696.85, showing an increase of 49.0%[31]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 43,810[13]. - The largest shareholder, Li Weiping, holds 27.42% of shares, totaling 86,130,000 shares[13]. - The top ten shareholders hold a combined total of 73.56% of the shares[13]. - The company has not reported any changes in the participation of major shareholders in margin financing and securities lending[14]. Share Repurchase and Employee Stock Ownership - The company plans to repurchase shares with a total fund of no less than RMB 60 million and no more than RMB 120 million, with a maximum repurchase price of RMB 25.00 per share[14]. - As of the end of the reporting period, the company has repurchased 2,401,100 shares, accounting for 0.76% of the total share capital, with a total payment of RMB 60,082,781.93[14]. - The average repurchase price is RMB 25.02 per share, and the highest transaction price was RMB 45.55 per share[14]. - The employee stock ownership plan holds 1,253,000 shares as of the end of the reporting period, with no sales of unvested stock rights during the reporting period[19]. - The 2023 employee stock ownership plan has been extended for 24 months until March 13, 2027, with 720,300 shares held in the plan as of the end of the reporting period[20]. - The company plans to implement the 2025 Employee Stock Ownership Plan (ESOP) with a total funding of CNY 110.055 million, involving up to 292 participants[21]. - As of June 19, 2025, the company completed the transfer of 2,367,000 shares to the ESOP at a price of CNY 37.63 per share, representing 0.77% of the total share capital[22]. Strategic Focus - The company’s strategic focus includes enhancing market share in traditional sectors while expanding into emerging fields such as humanoid robots and high-end equipment[12]. - The company’s strategy emphasizes "deepening old industries and exploring new industries," which has led to improved market penetration in core products like servo systems and PLCs[12]. Expenses - Management expenses rose by 31.45% year-on-year to CNY 69.21 million, primarily due to increased stock incentive costs and consulting fees[10]. - Research and development expenses for the current period were CNY 166.090 million, compared to CNY 155.256 million in the previous period, indicating a year-over-year increase of about 7.4%[28]. - The company reported an investment income of CNY 6.168 million, compared to CNY 2.727 million in the previous period, marking a significant increase[28]. - The company’s investment income surged by 126.17% year-on-year to CNY 6.17 million, attributed to increased earnings from joint ventures[10]. - The company reported a 205.39% increase in trading financial assets, totaling CNY 251 million, due to increased investments in financial products[8].

Core Insights - The optical encoder market is experiencing growth due to increased automation and new application scenarios, with global sales expected to reach approximately $13.31 billion in 2024, an increase of $670 million from 2023, and projected to exceed $14 billion in 2025, with a potential to surpass $18 billion in the next five years [1][4][6] Market Overview - The North American optical encoder market holds a significant share at 35.5%, while the Asia-Pacific region, particularly China, has surpassed North America with a market share of 39.1% due to its large manufacturing scale [4][6] - Europe accounts for 20.1% of the market, with Latin America, the Middle East, and Africa holding shares of 2.9%, 2.4%, respectively [4][6] Industry Definition and Classification - Optical encoders are electromechanical devices that convert mechanical position or motion into electrical signals, categorized into incremental and absolute encoders [2][4] Industry Development Status - The optical encoder market is expanding, driven by rising automation rates and new applications, with significant growth expected in the coming years [4][6] - The Chinese CNC machine tool market is projected to reach 432.5 billion yuan in 2024, an increase of 23.5 billion yuan from 2023, and is expected to exceed 450 billion yuan in 2025 [6][7] Industry Chain - The upstream of the optical encoder industry includes components such as light sources, optical glass, specialized encoding chips, and precision bearings, while the midstream involves the manufacturing of optical encoders [5][6] - The downstream applications span various sectors, including CNC machine tools, healthcare, consumer electronics, industrial robots, and new energy vehicles [5][6] Competitive Landscape - The optical encoder industry in China is competitive, with foreign companies like Heidenhain (Germany) and Renishaw (UK) dominating the high-end market, while domestic companies such as Changchun Yuheng Optical and Huichuan Technology are enhancing their R&D capabilities [7][8] - Changchun Yuheng Optical is recognized as a national high-tech enterprise specializing in encoder and grating scale manufacturing, while Aopu Optoelectronics has a strong presence in the defense optical measurement field [8] Industry Development Trends - Optical encoders are widely used in healthcare, machine tools, consumer electronics, and industrial equipment, with demand driving market growth [8] - Future developments will focus on higher precision, smaller size, lower power consumption, and smarter functionalities, supported by innovations in nanotechnology and new materials [8]

Group 1 - A significant breakthrough in robot algorithm has been achieved by a Chinese research team, introducing the world's first unified theory of "force-position hybrid control algorithm" [1] - The new algorithm allows robots to learn both position and force control without relying on force sensors, increasing task success rates by approximately 39.5% compared to strategies using only position control [1] - The algorithm enables robots to perform six types of operations, including position tracking and compliant force application, without sensors, significantly improving task quality [1] Group 2 - The algorithm enhances real-time interaction capabilities, allowing robots to adjust their motion states immediately when subjected to external forces, thereby improving human-robot collaboration safety [1] - The generalization ability of the algorithm allows it to operate stably across different robot platforms, breaking equipment limitations [1] - This advancement positions China at the international forefront of intelligent control in robotics, providing critical technological support for industries such as smart manufacturing and rehabilitation healthcare [1] Group 3 - Related A-share concept stocks include Leisai Intelligent and Hechuan Technology [2]

Core Viewpoint - The automation industry is experiencing structural opportunities driven by intelligence and domestic substitution, despite a projected 5% year-on-year decline in the OEM sector in 2024 [1] Industry Summary - The "new quality productivity" policy and the transformation towards intelligent manufacturing are expected to create significant space for growth within the industry [1] - Companies that leverage technological breakthroughs and optimize channels are likely to achieve sustained growth amid these structural opportunities [1] Company Summary - The company is a leading player in the motion control field, supported by dual qualifications as a national high-tech enterprise and a specialized "little giant" enterprise [1] - The company has developed a strong technological moat through its unique "three-wheel drive" strategy and "six modernization" product system, which not only optimizes the existing product structure but also provides a clear path for future development [1] - The company is steadily advancing its overseas expansion, driven by technological innovation towards high-end products, with mature product lines certified by CE, UL, and others, enabling sales to Europe, America, and Southeast Asia [1] - The company's key technologies are at an internationally leading level, contributing to continuous business growth [1] - Given the company's significant core technology advantages in the motion control field and diversified layout driving overseas revenue growth, it has been assigned a "buy" investment rating [1]

Group 1 - The core viewpoint of the article highlights the target price increases for several listed companies, with notable gains for Dongcai Technology, Seres, and Gree Electric, showing target price increases of 51.97%, 37.62%, and 36.96% respectively [1][3] - On September 25, a total of 12 target price adjustments were made by brokerages, with the highest target price set at 32.43 yuan for Dongcai Technology [1][3] - A total of 35 listed companies received brokerage recommendations on September 25, including Sanyuan Shares, Anhui Weaving High-tech, and Yixin Pharmacy [1][3] Group 2 - On the same date, two companies had their ratings upgraded, with Renfu Pharmaceutical's rating raised from "Hold" to "Buy" by Shouchuang Securities, and Sanhuan Group's rating upgraded from "Hold" to "Buy" by Huazheng Securities [4][6] - A total of 10 companies received initial coverage from brokerages, with Frontier Biotech receiving a "Buy" rating from Kaiyuan Securities and Jiete Biotech also receiving a "Buy" rating from Xinda Securities [4][7] - Other companies receiving initial coverage include Bowei Alloy with a rating of "Hold" and Leisai Intelligent with a "Buy" rating, indicating a diverse range of sectors being covered [4][7]