Core Insights - Leisai Intelligent, established in January 2007 and listed on the Shenzhen Stock Exchange in April 2020, is a leading company in the domestic motion control sector, focusing on the R&D of core components and related application systems [1] Financial Performance - In Q3 2025, Leisai Intelligent reported revenue of 1.3 billion yuan, ranking sixth among 20 companies in the industry, surpassing the industry average of 957 million yuan and the median of 634 million yuan [2] - The net profit for the same period was 166 million yuan, placing the company third in the industry, above the average net profit of 26.81 million yuan and the median of 6.70 million yuan [2] Profitability and Debt Ratios - As of Q3 2025, Leisai Intelligent's debt-to-asset ratio was 40.90%, higher than the previous year's 37.18% and the industry average of 38.93% [3] - The gross profit margin for Q3 2025 was 39.08%, an increase from 38.64% year-on-year, and significantly above the industry average of 25.17% [3] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 2.42% to 43,800, with an average holding of 5,044.08 shares, a decrease of 1.13% from the previous period [5] Management Compensation - The chairman, Li Weiping, received a salary of 822,300 yuan in 2024, a decrease of 10,400 yuan from 2023 [4] Market Trends and Future Outlook - According to Dongwu Securities, Leisai Intelligent's revenue grew by 23% year-on-year in Q3 2025, with net profit increasing by 48%, exceeding market expectations [6] - The company is expanding its market share in servo and small PLC sectors, with respective market shares of 3.85% and 1.95%, reflecting year-on-year increases of 0.2 percentage points and 0.41 percentage points [6] - The company is also advancing its robotics business, having engaged with hundreds of companies for testing, which is expected to contribute to future growth [6]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company's performance in Q3 2025 exceeded market expectations, with revenue growth of 23% year-on-year and net profit growth of 48% [8] - The recovery trend in the industrial control downstream is clear, with the company increasing its market share through marketing initiatives [8] - The robotics business is advancing rapidly, with three main entities focusing on different product solutions [8] - Overall expense control is good, and operating cash flow has significantly improved [8] - The company forecasts a net profit of 2.8 billion, 3.7 billion, and 4.8 billion for 2025, 2026, and 2027 respectively, with corresponding P/E ratios of 49x, 37x, and 29x [8] Financial Performance Summary - Total revenue for 2023 is projected at 1,415 million, with a year-on-year growth of 5.79% [1] - The net profit attributable to the parent company for 2023 is estimated at 138.57 million, reflecting a year-on-year decline of 37.10% [1] - The latest diluted EPS for 2023 is 0.44 yuan per share [1] - The company expects total revenue to reach 2,071 million in 2025, with a year-on-year growth of 30.74% [1] - The net profit attributable to the parent company is projected to be 281.52 million in 2025, with a year-on-year growth of 40.43% [1] - The latest diluted EPS for 2025 is expected to be 0.90 yuan per share [1]

Investment Rating - The report maintains a "Buy" rating for the company, expecting a price increase of over 15% in the next 6-12 months [6][11]. Core Insights - The company reported a revenue of 1.3 billion yuan for the first three quarters of 2025, a year-on-year increase of 12.6%, with a net profit of 160 million yuan, up 11.0% year-on-year [2]. - The demand in the automation control sector is recovering, leading to an increase in market share for the company's servo and PLC products [3]. - The company has made significant advancements in humanoid robot products, establishing a second growth curve with several large clients testing its products [4]. - Operating cash flow has improved significantly, with a net cash flow of 190 million yuan, reflecting a 61.9% year-on-year increase [5]. Summary by Sections Performance Review - In Q3 2025, the company achieved a revenue of 410 million yuan, a 23.2% increase year-on-year, and a net profit of 40 million yuan, up 47.6% year-on-year, with a gross margin of 39.7% [2]. Operational Analysis - The company is benefiting from a robust recovery in the smart manufacturing sector, with its core products seeing increased market penetration, contributing to a significant revenue growth in Q3 [3]. Product Development - The company is leading in humanoid robot product development, with several commercial orders for its components, indicating a strong position in emerging markets [4]. Financial Metrics - The company’s operating expenses increased to 27.3% of revenue, primarily due to marketing and new equity incentive costs, but operating cash flow has shown strong improvement [5]. - The projected net profits for 2025-2027 are 240 million, 300 million, and 370 million yuan, respectively, with corresponding growth rates of 20%, 25%, and 22% [6].

Investment Rating - The report maintains a "Buy" rating for the company [6]. Core Insights - The company reported a revenue of 1.3 billion RMB for the first three quarters of 2025, representing a year-on-year increase of 12.57%. The net profit attributable to the parent company was 160 million RMB, up 11.01% year-on-year [1]. - In Q3 2025, the company achieved a revenue of 409 million RMB, a year-on-year increase of 23.21%, but a quarter-on-quarter decrease of 18.33%. The net profit for the same quarter was 41 million RMB, reflecting a year-on-year increase of 47.62% [1]. - The company is undergoing significant transformations in its channels, management, and research and development, which are expected to enhance growth in its core industrial control business [3]. Summary by Sections Financial Performance - For Q3 2025, the gross margin was 39.74%, slightly down by 0.22 percentage points year-on-year but up by 0.62 percentage points quarter-on-quarter. The increase in the expense ratio is attributed to the company's ongoing management and R&D process reforms [2]. - The company forecasts net profits of 271 million RMB, 339 million RMB, and 389 million RMB for 2025, 2026, and 2027, respectively, with corresponding EPS of 0.86, 1.08, and 1.24 RMB [5]. Business Strategy - The company has initiated a channel model upgrade since 2022, focusing on partnerships with foreign brands and shifting towards a strategy that emphasizes channels over direct sales [3]. - The establishment of subsidiaries focused on robotics and high-density motor solutions indicates a proactive approach to capturing new opportunities in the intelligent robotics sector [4]. Market Positioning - The company is expanding its market share in core products such as servo and PLC through various organizational changes and a focus on customer needs [3]. - The report highlights the company's efforts in developing key technologies for humanoid robots, which may lead to significant growth opportunities in the future [4].

Core Viewpoint - Leisai Intelligent (002979.SZ) reported a revenue of 1.3 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 12.57% [1] - The net profit attributable to shareholders reached 160 million yuan, marking an increase of 11.01% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 155 million yuan, showing a year-on-year growth of 9.16% [1] Financial Performance - Revenue for the first three quarters: 1.3 billion yuan, up 12.57% year-on-year [1] - Net profit attributable to shareholders: 160 million yuan, up 11.01% year-on-year [1] - Net profit after deducting non-recurring gains and losses: 155 million yuan, up 9.16% year-on-year [1]

Core Viewpoint - Leisai Intelligent (002979.SZ) reported a revenue of 1.3004 billion yuan for the first three quarters of 2025, reflecting a year-on-year increase of 12.57% [1] - The net profit attributable to shareholders reached 160 million yuan, marking an 11.01% year-on-year increase [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 155 million yuan, up 9.16% year-on-year [1] - Basic earnings per share stood at 0.51 yuan [1] Financial Performance - Revenue for the first three quarters: 1.3004 billion yuan, up 12.57% year-on-year [1] - Net profit attributable to shareholders: 160 million yuan, up 11.01% year-on-year [1] - Net profit after deducting non-recurring gains: 155 million yuan, up 9.16% year-on-year [1] - Basic earnings per share: 0.51 yuan [1]

Core Viewpoint - The company, 雷赛智能, announced the establishment of a wholly-owned subsidiary in Dongguan, Guangdong, with an investment of 10 million yuan, aimed at building a regional headquarters and a core component R&D base for humanoid robots, with a total investment of no less than 500 million yuan by 2025 [1][1][1] Group 1 - 雷赛智能's board approved the investment project with a unanimous vote of 7 in favor, 0 against, and 0 abstentions [1] - The company's revenue composition for the first half of 2025 shows that industrial automation accounts for 99.67%, while other businesses make up 0.33% [1] - As of the report date, 雷赛智能's market capitalization stands at 13.7 billion yuan [1]

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 ...