Group 1 - The company, Zhao Wei Electromechanical, announced that it has received a notification from its controlling shareholder, Shenzhen Qianhai Zhao Wei Financial Holdings Co., Ltd., regarding changes to its business name and scope [2] - The company has completed the registration procedures for the business changes and has obtained a new business license issued by the Shenzhen Market Supervision Administration [2]

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。 深圳市兆威机电股份有限公司（以下简称"公司"）于近日收到控股股东深 圳前海兆威金融控股有限公司的通知，其对名称、经营范围的工商信息进行了变 更，并已完成工商变更登记手续，取得了由深圳市市场监督管理局换发的《营业 执照》。变更后的《营业执照》主要信息如下： 名称：深圳前海兆威投资有限公司 统一社会信用代码：91440300326652578T 证券代码：003021 证券简称：兆威机电 公告编号：2026-001 深圳市兆威机电股份有限公司 关于控股股东变更名称及其他工商信息暨完成工商变更登 记的公告 注册资本：1,000 万元 类型：有限责任公司 成立日期：2015 年 03 月 03 日 法定代表人：谢燕玲 深圳市兆威机电股份有限公司 住所：深圳市前海深港合作区南山街道梦海大道 5033 号前海卓越金融中心 （一期）8 号楼 1207 经营范围：投资兴办实业（具体项目另行申报）；自有物业租赁；国内贸易 （不含专营、专卖、专控商品）；经营进出口业务（法律、行政法规、国务院决 定禁止的项目除外，限制的项目须取得许可 ...

Core Viewpoint - Zhaowei Electric's stock price has shown a modest increase this year, with significant growth over the past 20 days, indicating positive market sentiment towards the company and its operations [2]. Group 1: Stock Performance - As of January 12, Zhaowei Electric's stock price decreased by 2.03% to 126.32 CNY per share, with a trading volume of 256 million CNY and a turnover rate of 0.96%, resulting in a total market capitalization of 30.406 billion CNY [1]. - Year-to-date, Zhaowei Electric's stock has risen by 1.72%, with a 3.41% increase over the last five trading days, a 19.37% increase over the last 20 days, and a 6.03% increase over the last 60 days [2]. Group 2: Company Overview - Zhaowei Electric, established on April 19, 2001, and listed on December 4, 2020, is located in Shenzhen, Guangdong Province. The company specializes in the research, production, and sales of micro transmission systems, precision injection parts, and precision molds [2]. - The revenue composition of Zhaowei Electric includes micro transmission systems (63.25%), precision parts (30.44%), and precision molds and other products (6.31%) [2]. - The company operates within the electric equipment sector, specifically in motor categories, and is associated with concepts such as BYD, new energy vehicles, reducers, charging piles, and robotics [2]. Group 3: Financial Performance - For the period from January to September 2025, Zhaowei Electric achieved a revenue of 1.255 billion CNY, representing a year-on-year growth of 18.70%. The net profit attributable to shareholders was 181 million CNY, reflecting a year-on-year increase of 13.86% [2]. - Since its A-share listing, Zhaowei Electric has distributed a total of 333 million CNY in dividends, with 192 million CNY distributed over the past three years [3]. Group 4: Shareholder Information - As of September 30, 2025, Zhaowei Electric had 51,000 shareholders, a decrease of 8.28% from the previous period, with an average of 4,066 circulating shares per shareholder, an increase of 9.63% [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 3.4455 million shares, an increase of 1.6249 million shares from the previous period. New entrants include the E Fund National Robot Industry ETF, holding 2.775 million shares [3].

Core Insights - The 2026 International Consumer Electronics Show (CES 2026) opened in Las Vegas, focusing on "human-centered AI applications," with over 4,500 companies from more than 150 countries participating, including 207 Chinese companies, showcasing strong industrial competitiveness [1][8] - ZWHAND, a sub-brand of Zhao Wei Electric, made its debut with the global launch of the 20-degree-of-freedom dexterous hand, highlighting China's technological breakthroughs in core robotic components and marking a significant moment in the domestic substitution trend [1][3] Product Highlights - The ZWHAND B20 dexterous hand features 20 independent degrees of freedom, surpassing the industry standard of 6-15 degrees, with a load capacity of 5 kg and a tactile sensing threshold of ±0.1N, ensuring precision in complex operations [3][5] - ZWHAND also showcased a full product matrix, including the 17-degree-of-freedom bionic dexterous hand (A17) for humanoid robots and a 6-degree-of-freedom dexterous hand (B06) for entry-level applications, demonstrating comprehensive coverage across various scenarios [5] Technological Innovation - The ZWHAND B20 employs a fully direct-drive design, integrating Zhao Wei Electric's micro-drive technology, achieving a balance between lightweight and high performance, suitable for applications in precision assembly, medical assistance, service robots, and high-end intelligent manufacturing [5][8] - The product's technology aligns with CES 2026's theme, particularly in the context of "physical AI and embodied intelligence," facilitating a closed-loop control system that reduces the barriers to commercializing robotic technology [8][10] Market Recognition and Expansion - ZWHAND's interactive experience zone at CES 2026 attracted significant attention, with international audiences expressing high interest in the dexterous hand's capabilities, indicating a strong potential for global market expansion [6][9] - The brand has established initial connections with several international humanoid robot companies, laying a solid foundation for overseas market development [6][9] Strategic Positioning - ZWHAND's participation at CES 2026 signifies a transition from "concept validation" to "commercial capability output" in the domestic robotic core components industry, breaking the foreign monopoly in high-degree-of-freedom dexterous hands [8][9] - Supported by Zhao Wei Electric's global strategy, ZWHAND is positioned to leverage its international subsidiaries and patent resources to enhance its market share in the global arena [9][10]

Group 1 - The humanoid robot concept has seen a rapid surge in interest, leading to significant stock price increases for several companies in the sector [1] - Haoshi Electromechanical (300503) experienced a nearly 10% increase in stock price [1] - Fenglong Co., Ltd. (002931) achieved an 11-day consecutive increase in stock price [1] Group 2 - Other companies that followed the upward trend include Tianqi Co., Ltd. (002009), Sanhua Intelligent Control (002050), Zhejiang Rongtai (603119), Wuzhou New Spring (603667), Zhaowei Electromechanical (003021), Wanxiang Qianchao (000559), Buke Co., Ltd., and Top Group (601689) [1]

Group 1 - The company emphasizes that smart vehicles are a significant business area and aims to address customer pain points while providing high-quality services [2] - The company plans to continuously enrich its product line and expand its product categories [2]

Core Viewpoint - The company is a leading player in the micro drive system industry, with a strong focus on expanding its downstream markets and a solid technical foundation established by its experienced management team [1][2][5]. Group 1: Company Overview - The company was founded in 2001 and went public in 2020, initially focusing on precision injection molding and components, later shifting to micro drive systems in 2010 [1][2]. - The company has expanded its product applications to various industries, including automotive electronics, communication devices, smartphones, medical care, service robots, industrial automation, smart homes, and AR & VR [1][5]. Group 2: Market Position and Strategy - Micro drive systems are core components in the industrial sector, characterized by their miniaturization, high precision, reliability, lightweight, and low noise, with significant market demand across various sectors [5][14]. - The company targets key industries undergoing intelligent upgrades, such as smart automotive, consumer technology, medical technology, and advanced manufacturing, to meet diverse application needs [5][14]. Group 3: Customer Base and Product Development - The company adopts a customized business model to develop micro drive systems based on client needs, enhancing user stickiness and building a strong customer base [6][15]. - It has established partnerships with renowned companies like Huawei, Bosch, BYD, Great Wall Motors, Vivo, OPPO, Xiaomi, iRobot, and others, enhancing its market competitiveness [6][15]. Group 4: Financial Performance - From 2017 to 2024, the company achieved a compound annual growth rate (CAGR) of 15.7% in revenue and 24.3% in net profit, with projected revenues of 1.525 billion yuan and net profits of 225 million yuan in 2024, reflecting year-on-year growth of 26.4% and 25.1% respectively [7][16]. - The company experienced a significant decline in its micro drive system business for smartphone camera modules in 2020 but has since rebounded due to successful expansions into automotive electronics and other sectors [7][16]. Group 5: Cost Structure and R&D Investment - The company's gross margin remains stable at around 30%, with raw material costs being a significant portion of total costs, making it sensitive to fluctuations in material prices [10][18]. - R&D expenses have increased significantly post-IPO, with a year-on-year growth of 86.7% in 2021, reflecting the company's commitment to enhancing its competitive edge through innovation and solution development [10][18].

Core Viewpoint - Zhaowei Electric's stock price has shown fluctuations, with a recent increase of 2.13% and a total market capitalization of 30.154 billion yuan, indicating investor interest and market activity [1]. Group 1: Stock Performance - As of January 8, Zhaowei Electric's stock price is 125.27 yuan per share, with a trading volume of 588 million yuan and a turnover rate of 2.30% [1]. - Year-to-date, the stock price has increased by 0.88%, with a decline of 2.82% over the last five trading days, a rise of 15.35% over the last 20 days, and an increase of 7.37% over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Zhaowei Electric achieved a revenue of 1.255 billion yuan, representing a year-on-year growth of 18.70%, and a net profit attributable to shareholders of 181 million yuan, reflecting a growth of 13.86% [2]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Zhaowei Electric is 51,000, a decrease of 8.28% from the previous period, while the average circulating shares per person increased by 9.63% to 4,066 shares [2]. - The company has distributed a total of 333 million yuan in dividends since its A-share listing, with 192 million yuan distributed in the last three years [3]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 3.4455 million shares, an increase of 1.6249 million shares from the previous period, while new shareholders include E Fund National Robot Industry ETF with 2.775 million shares [3].

Core Viewpoint - The 2026 International Consumer Electronics Show (CES 2026) will take place from January 6 to 9 in Las Vegas, showcasing numerous A-share listed companies with their latest products in popular sectors such as robotics, smart hardware, and new energy vehicles [6]. Robotics - Ninebot will unveil a new multi-scenario lawn mowing robot, enhancing its product matrix [2]. - Stone Technology is expected to debut its "embodied intelligence black technology" as a representative of smart cleaning robots [7]. - Lingyi Technology will present a comprehensive robotics technology matrix, showcasing core components and application solutions [8]. - Zhaowei Electromechanical will showcase a new generation of dexterous hands with 20 degrees of freedom [9]. - Orbbec will release multiple 3D camera products suitable for humanoid robots, enhancing visual solutions for precise operations [9]. - Ecovacs will introduce a pool cleaning robot and the latest developments in embodied intelligence [9]. - Lens Technology will debut a highly dexterous bionic hand and head assembly, integrating self-developed reducers for improved performance [10]. - Megvii will collaborate with Yimai Intelligent to launch two new micro AI robot products [11]. Smart Glasses - Tianjian Co. will present its latest AI and AR glasses at CES 2026, focusing on AI glasses, AI headphones, and smart speakers [12]. - XGIMI Technology will globally launch its new AI glasses brand "MemoMind" [13]. - GoerTek will showcase multiple innovative MR/AR/smart glasses, enhancing the "AI + smart interaction" experience [13]. - Guangfeng Technology will present three LCoS AR optical products: Wax Girl G1, Dragonfly G1 mini, and Rainbow C1 [14]. Storage Solutions - Baiwei Storage will highlight consumer-grade storage solutions, including a Mini SSD that rivals flagship PCIe Gen4 SSDs, supporting Meta's AI/AR glasses [15]. - Jiangbolong will enhance its consumer market brand with a collaboration featuring a special edition storage product linked to the Argentina national football team [15]. - Rockchip will showcase audio and machine vision products, with its RK3588 chip being widely applied in various robotic forms [15]. Automotive Innovations - Great Wall Motors will return to CES with its full product line and core technology matrix, focusing on new energy and AI vehicles [17]. Display Technologies - TCL Technology will unveil its "machine king" series of televisions and the world's first printed OLED vehicle display solution [5]. - Hisense will launch a new generation of RGB-Mini LED display technology [5]. - BOE will showcase over 60 cutting-edge display technologies and IoT solutions, including the global debut of the "HERO 2.0 smart cockpit" [19].

Market Overview - The electric motor sector experienced a decline of 0.39% compared to the previous trading day, with Sanxie Electric leading the drop [1] - The Shanghai Composite Index closed at 4085.77, up 0.05%, while the Shenzhen Component Index closed at 14030.56, up 0.06% [1] Stock Performance - Notable gainers in the electric motor sector included: - Huari Co., Ltd. (300626) with a closing price of 15.50, up 7.94% and a trading volume of 240,600 shares, totaling 364 million yuan [1] - Xingdesheng (603344) closed at 37.58, up 3.19% with a trading volume of 72,600 shares, totaling 269 million yuan [1] - Xiangdian Co., Ltd. (600416) closed at 16.46, up 2.75% with a trading volume of 782,600 shares, totaling 126.9 million yuan [1] - Conversely, significant decliners included: - Sanxie Electric (920100) closed at 70.00, down 3.96% with a trading volume of 26,100 shares, totaling 186 million yuan [2] - Yifan Transmission (301023) closed at 41.46, down 3.24% with a trading volume of 27,600 shares, totaling 116 million yuan [2] - Bafang Co., Ltd. (603489) closed at 29.65, down 2.76% with a trading volume of 31,600 shares, totaling 94.56 million yuan [2] Capital Flow - The electric motor sector saw a net outflow of 877 million yuan from institutional investors, while retail investors contributed a net inflow of 882 million yuan [2] - Detailed capital flow for selected stocks showed: - Xiangdian Co., Ltd. (600416) had a net inflow of 99.93 million yuan from institutional investors, but a net outflow of 52.35 million yuan from retail investors [3] - Xingdesheng (603344) experienced a net inflow of 35.82 million yuan from institutional investors, with a net outflow of 42.20 million yuan from retail investors [3] - Huari Co., Ltd. (300626) had a net inflow of 31.79 million yuan from institutional investors, but a net outflow of 67.95 million yuan from retail investors [3]