证券代码：002979 证券简称：雷赛智能 公告编号：2025-036 深圳市雷赛智能控制股份有限公司 关于召开 2025 年第一次临时股东大会的提示性公告 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"）定于 2025 年 6 月 3 日（星期二）下午 14 时 30 分召开公司 2025 年第一次临时股东大会，本次股 东大会通知已于 2025 年 5 月 17 日在《证券时报》《证券日报》《中国证券报》 《上海证券报》以及巨潮资讯网上刊登了《关于召开 2025 年第一次临时股东大 会的通知》（公告编号：2025-032）。本次股东大会采用现场和网络投票相结合 的方式召开，根据相关规定，现将本次股东大会的相关事项提示如下： 一、召开会议的基本情况 1、股东大会届次：2025 年第一次临时股东大会。 2、股东大会的召集人：公司第五届董事会。 3、会议召开的合法、合规性：本次股东大会会议的召开符合《公司法》、 《证券法》、《上市公司股东大会规则》、《深圳证券交易所股票上市规则》、 《深圳证券交易所上市公司自律监管 ...

Group 1 - The core focus of the company is on humanoid robots, with significant progress in related business areas highlighted during a recent investor meeting [1] - The company has established subsidiaries to concentrate on high-density frameless motors and joint module solutions, as well as hollow cup motors and dexterous hand solutions [1] - The company has received substantial commercial orders for its frameless torque motors and hollow cup motors, although current revenue contribution remains relatively small, with expectations for rapid growth in the future [1] Group 2 - The company plans to invest in a new headquarters and core component R&D manufacturing base for humanoid robots in Dongguan, aligning with its long-term strategic focus on "smart manufacturing" and "mobile robots" [2] - Establishing the South China headquarters is expected to optimize the company's business layout in the region and act as a new engine for the development of the humanoid robot industry [2] - The project is progressing as planned, with the establishment of a wholly-owned subsidiary, Dongguan Leisai Robot Technology Co., Ltd. [2]

Core Viewpoint - Shenzhen Laisai Intelligent Control Co., Ltd. has announced a cash dividend distribution plan for the year 2024, which was approved at the shareholders' meeting on May 15, 2025, with a distribution of 3.20 RMB per 10 shares for all shareholders, excluding shares held in the company's repurchase account [1][2][3]. Summary by Sections Dividend Distribution Plan - The total share capital for the dividend distribution is calculated as 307,640,847 shares, minus the 2,965,957 shares held in the repurchase account, resulting in a base of 304,674,890 shares for the distribution [1][2]. - The total cash dividend to be distributed amounts to 97,495,964.80 RMB, with each shareholder receiving 3.20 RMB per 10 shares, inclusive of tax [1][2][3]. Tax Implications - For investors holding shares through the Hong Kong market, the after-tax dividend will be 2.88 RMB per 10 shares, with different tax rates applied based on the type of shares held [2][3]. - The tax on dividends for individual shareholders will depend on their holding period, with specific amounts outlined for those holding shares for over one year [3]. Important Dates - The record date for the dividend distribution is set for May 28, 2025, and the ex-dividend date will be May 29, 2025 [3][4]. Distribution Method - Cash dividends will be directly credited to the shareholders' accounts through their securities companies or other custodial institutions [4]. Adjustments to Stock Options - Following the dividend distribution, the exercise price for the 2022 stock option incentive plan will be adjusted from 19.95 RMB to 19.63 RMB per share [4].

证券代码：002979 证券简称：雷赛智能 公告编号：2025-033 深圳市雷赛智能控制股份有限公司 2024 年年度权益分派实施公告 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。 特别提示： 1、根据《中华人民共和国公司法》、《深圳证券交易所上市公司自律监管 指引第 9 号——回购股份》等相关规定，深圳市雷赛智能控制股份有限公司（以 下简称"公司"或"本公司"）通过回购专用证券账户（又称"回购专户"）持 有的本公司股份不享有参与本次利润分配的权利。因此，本次利润分配方案为： 以实施分配方案时股权登记日（2025 年 5 月 28 日）的总股本 307,640,847 股扣 除公司回购专户上已回购股份（2,965,957 股）后的总股本 304,674,890 股为基 数，向全体股东每 10 股派 3.20 元人民币现金（含税），此外，公司不送红股， 不以资本公积金转增股本，共计派发现金红利 97,495,964.80 元。 2、本次利润分配方案以固定比例的方式分配。本次权益分派实施后，按公 司总股本折算每 10 股现金分红比例及除权除息参考价格如下：按公 ...

Market Overview - The overall automation market in China is projected to reach nearly ¥300 billion by 2024, with the OEM automation market exceeding ¥100 billion [3] - The humanoid robot market is expected to grow from approximately ¥2.76 billion in 2024 to ¥10.471 billion by 2026, and potentially reach ¥300 billion by 2035 [3] Company Strategy - The company aims for a revenue growth of 20%-30% and a net profit increase of 30%-50% in 2025 [4] - Key strategies include: 1. Capturing import market share 2. Expanding into mid-to-low-end markets 3. Deepening focus on strategic industries 4. Expanding channel networks 5. Seizing opportunities in humanoid robotics 6. Gradually advancing overseas market development [4] Robotics Business Development - The company has established subsidiaries focused on core components and solutions for humanoid robots, including Shanghai Leisai Robot Technology Co., Ltd. and Shenzhen Lingqiao Drive Control Technology Co., Ltd. [5][7] - The company has received significant commercial orders for its core components, although current revenue contribution remains small [8] Incentive and Repurchase Plans - A new equity incentive plan aims to attract and retain talent, aligning employee interests with company growth and shareholder value [10] - The company plans to implement a share repurchase program based on market conditions, with adjustments disclosed as per legal requirements [11] Project Developments - The company is investing in a headquarters and R&D base for humanoid robot components in Dongguan, enhancing its manufacturing capabilities and market competitiveness [12][13] - The project is progressing as planned, with the establishment of Dongguan Leisai Robot Technology Co., Ltd. to support this initiative [13]

Core Insights - The Morgan Stanley China Summit is set to begin this week with over 2,800 participants, reflecting a more optimistic market sentiment compared to last year, which was focused on hope for policy shifts and growth stabilization that have since materialized [1] - The consensus for EPS growth for the MSCI China Index is projected at 8.3% for 2025 and 11.8% for 2026, with potential upside risks driven by increased AI applications [1][2] Group 1: Investment Themes - Three key investment themes highlighted by Morgan Stanley include: (1) AI innovations in enterprises, particularly in robotics and autonomous driving; (2) consumer demand supported by government policies; (3) the current state and future trajectory of US-China relations [2][10] Group 2: Market Positioning - Emerging market funds have returned to neutral positioning in Hong Kong/China markets, with a median overweight of +0.2 percentage points, ending a two-year low allocation period [4] - Global and EAFE funds remain significantly underweight in the Chinese market, requiring approximately $475 billion in long positions to adjust to neutral [4] Group 3: Market Performance - The MSCI China Index has risen 19% over the past year, outperforming the S&P 500 Index (+14%) and emerging markets (+10%), with a year-to-date increase of 16% [5][9] - Recent performance has lagged slightly, with a 9% increase in the past month compared to the S&P 500's 15% rise [5] Group 4: Valuation Metrics - The MSCI China Index's P/E ratio is currently at 12.6x, and P/B ratio at 1.6x, indicating valuations are no longer a barrier to market growth [6] - There are still significant value opportunities, particularly in the consumer discretionary sector, which is trading at a 30% discount to its 10-year average [6][11] Group 5: Consumer Sector Insights - The Chinese government is shifting focus from supply-side growth to boosting demand, which is crucial for EPS growth in consumer companies [10] - There is a notable disconnect between the earnings growth and stock performance of leading Chinese consumer companies, presenting attractive buying opportunities [11] Group 6: AI and Innovation - The focus on AI applications is expected to grow, with significant interest in "physical AI" such as robotics and advanced driver-assistance systems (ADAS) [14][15] - Companies like UBTECH and Unitree are leading in the humanoid robotics space, with a projected market size of $5 billion for humanoid robots [14] Group 7: US-China Relations - The strategic competition between the US and China extends beyond trade, with deep-rooted geopolitical tensions and a spectrum of potential outcomes ranging from a grand bargain to a new cold war [18][20][22] - The current geopolitical landscape poses risks for companies operating in both markets, with implications for their strategic decisions and operations [18]

Key Insights - The report highlights the overall upward trend in various industries, including oil and petrochemicals, building materials, electronics, textiles, automotive, non-bank financials, and environmental protection, while sectors like electric equipment, machinery, food and beverage, pharmaceuticals, home appliances, banking, real estate, public utilities, and retail are experiencing a downward trend [2][3][5] Industry Overview - The semiconductor photomask market is dominated by US and Japanese companies, with a strong demand for domestic alternatives due to low domestic production rates [3] - The global photomask market reached USD 5.2 billion by 2022, showing consistent growth from 2012 to 2020 [3] - The CDMO sector is projected to generate revenue of CNY 83.191 billion in 2024, a decrease of 2.92% year-on-year, while the first quarter of 2025 shows a recovery with a revenue increase of 11.35% year-on-year [5] - The CRO sector is expected to face challenges in 2024 due to high base effects, but a significant recovery is anticipated in Q1 2025, with a net profit increase of 104.57% year-on-year [5] Company Performance - The report indicates that the company achieved a revenue of CNY 67.46 billion in 2024, reflecting a year-on-year growth of 13.24%, with a net profit of CNY 9.40 billion, up 2.86% year-on-year [11] - In Q1 2025, the company reported a revenue of CNY 16.66 billion, a slight increase of 1.41% year-on-year, and a net profit of CNY 2.57 billion, which is a 10.94% increase year-on-year [11] - The company has successfully launched its 500,000th five-in-one electric drive shell, enhancing its production capacity for products over 3000T [11] - The company is expected to achieve net profits of CNY 12.63 billion, 15.22 billion, and 17.99 billion from 2025 to 2027, with corresponding P/E ratios of 13.0, 10.8, and 9.1 [11] Market Trends - The report notes a significant increase in the demand for AI and robotics, with companies in these sectors expected to see a recovery in their stock prices following recent adjustments [10] - The report emphasizes the importance of domestic companies enhancing their R&D capabilities through acquisitions and talent acquisition to catch up with foreign competitors in the photomask industry [3] - The report also highlights the increasing importance of the AI industry, with Meta's Q1 2025 revenue reaching USD 42.3 billion, a 16% year-on-year increase, and a significant rise in AI-related advertising effectiveness [20]

Investment Rating - The investment rating for the company is "Buy" with a target price not specified [6][16]. Core Views - The company is expected to achieve a CAGR of 25% in performance over the next three years, supported by a stock incentive plan that reflects management's confidence [1][4]. - The company has set performance assessment targets with a baseline net profit of CNY 209 million for 2024 and projected net profits of CNY 272 million, CNY 335 million, and CNY 398 million for 2025 to 2027, representing year-on-year growth rates of 30%, 23.08%, and 18.75% respectively [3][4]. - Revenue projections for 2025 have been adjusted to CNY 1.957 billion, with a year-on-year growth of 23.6%, and net profit forecasted at CNY 279 million, reflecting a year-on-year increase of 39.1% [4][5]. Financial Data Summary - Revenue (CNY million): 2023: 1,415.37, 2024: 1,584.28, 2025E: 1,957.40, 2026E: 2,422.68, 2027E: 2,950.69 [5][11]. - Net profit attributable to the parent company (CNY million): 2023: 138.57, 2024: 200.46, 2025E: 278.77, 2026E: 337.99, 2027E: 406.16 [5][11]. - The company’s current market capitalization is CNY 15.12 billion, with a P/E ratio projected at 54.25 for 2025 [6][7].

64只个股今日获机构买入型评级，天味食品最新评级被调高，10股机构首次关注。 证券时报·数据宝统计显示，今日机构研报共发布66条买入型评级记录，共涉及64只个股。雷赛智能、 通威股份等关注度最高，均有2次机构买入型评级记录。 今日获机构买入型评级个股中，共有15条评级记录中对相关个股给出了未来目标价。以公布的预测目标 价与最新收盘价进行对比显示，共有7股上涨空间超20%，通威股份上涨空间最高，5月19日国泰海通预 计公司目标价为25.37元，上涨空间达49.41%，上涨空间较高的个股还有九安医疗、天味食品等，上涨 空间分别为42.89%、36.40%。 从机构评级变动看，今日机构买入型评级记录中，有10条评级记录为机构首次关注，涉及爱旭股份、汇 纳科技等10只个股。 | 000829 | 天音控股 | 1 | 1.71 | | 商贸零售 | | --- | --- | --- | --- | --- | --- | | 000830 | 鲁西化工 | 1 | -0.09 | 12.55 | 基础化工 | | 002080 | 中材科技 | 1 | 3.81 | 18.95 | 建筑材料 | | 002202 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has launched an equity incentive and employee stock ownership plan, reflecting confidence in performance growth, particularly in the robotics business [8] - The company aims for revenue growth rates of 20%, 25%, and 20% for 2025-2027, with net profit growth rates of 30%, 23%, and 19% respectively [8] - The company is focusing on deepening its market presence in the motion control sector and has seen significant growth in its distribution model, with distributor revenue increasing by 93% year-on-year [8] - The company is positioning itself as a core supplier of components and solutions in the robotics field, with new subsidiaries established to enhance its product offerings [8] - The profit forecast for the company indicates a net profit of 2.8 billion, 3.7 billion, and 4.8 billion for 2025-2027, corresponding to a price-to-earnings ratio of 55x, 42x, and 32x respectively [8] Financial Summary - Total revenue is projected to reach 1,415 million in 2023, growing to 3,236 million by 2027, with a compound annual growth rate of approximately 24.48% [1] - The net profit attributable to the parent company is expected to increase from 138.57 million in 2023 to 480.28 million in 2027, reflecting a growth rate of 30.66% [1] - The earnings per share (EPS) is forecasted to rise from 0.45 in 2023 to 1.56 in 2027 [1] - The company’s price-to-earnings ratio is projected to decrease from 112.25 in 2023 to 32.39 in 2027, indicating improving valuation metrics [1]