内部控制制度 深圳市兆威机电股份有限公司 二〇二五年四月 内部控制制度 第四条 公司董事会应当对内部控制制度的建立健全和有效实施负责，重要的内部 控制制度应当经董事会审议通过。公司董事会及其全体成员应当保证内部控制相 关信息披露内容的真实、准确、完整。 第五条 建立与实施内部控制，应当遵循以下基本原则： （一）全面性原则。内部控制应当贯穿决策、执行和监督全过程，覆盖公司及所 属企业的各种业务和事项。 （二）重要性原则。内部控制应当在全面控制的基础上，关注公司战略决策、重 要业务事项和高风险领域。 1 第一章 总则 第一条 为进一步加强深圳市兆威机电股份有限公司（以下简称"公司"）内部控 制管理，提高公司经营效率，保障实现发展战略，遵循外部监管要求，提升内部 控制的健全性及有效性，落实公司的内控责任，维护公司及全体股东尤其是中小 股东的合法权益，根据《中华人民共和国公司法》《中华人民共和国证券法》 《企业内部控制基本规范》、企业内部控制应用指引相关规定、《企业内部控制 评价指引》《深圳证券交易所股票上市规则》《上市公司治理准则》《深圳证券 交易所上市公司自律监管指引第1号——主板上市公司规范运作》等有关法律、行 ...

审计委员会年度财务报告 工作制度 深圳市兆威机电股份有限公司 二〇二五年四月 审计委员会年度财务报告工作制度 第一章 总则 第一条 为进一步完善深圳市兆威机电股份有限公司（以下简称"公司"）的治 理结构，建立健全公司内部控制制度，加强董事会审计委员会对公司财务报告 编制和披露的监督作用，提高公司信息披露的质量和透明度，根据《中华人民 共和国公司法》《中华人民共和国证券法》《中华人民共和国审计法》《上市 公司信息披露管理办法》《深圳证券交易所股票上市规则》《上市公司治理准 则》等有关法律、行政法规、部门规章及《深圳市兆威机电股份有限公司章程》 （以下简称"公司章程"）的有关规定，结合本公司实际情况，特制定本制度。 第二条 董事会审计委员会（以下简称"审计委员会"）委员在公司年报编制和 第二章 工作管理制度 第三条 审计委员会委员应认真学习中国证券监督管理委员会（以下简称"中国 证监会"）、中国证券监督管理委员会深圳监管局、深圳证券交易所等监管部 门关于编制和披露年度报告的工作要求，积极参加其组织的培训。 第四条 审计委员会行使职权时，公司所属各部门、子公司及有关人员应当积极 配合，不得拒绝、阻碍或隐瞒，不得干预 ...

董事会议事规则 深圳市兆威机电股份有限公司 董事会议事规则 第一节 董事会 第四条 公司设董事会，对股东会负责。 第一章 总则 二〇二五年四月 第一条 为规范深圳市兆威机电股份有限公司（以下简称"公司"）董事会的议 事方式和决策程序，适应建立现代企业制度的要求，维护股东的合法权益，明 确董事会的职责和权限，确保公司董事会高效规范运作，提高董事会规范运作 和科学决策水平，根据《中华人民共和国公司法》（以下简称"《公司 法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、《上市 公司治理准则》《深圳证券交易所股票上市规则》（以下简称"《上市规 则》"）、《上市公司独立董事管理办法》和《深圳市兆威机电股份有限公司 章程》（以下简称"公司章程"）等有关法律、行政法规、部门规章的有关规 定，结合本公司实际情况，特制定本规则。 第二条 董事会是公司股东会的执行机构和公司经营管理的决策机构，负责公司 发展目标和重大经营活动的决策。董事会应对股东会负责，确保公司遵守法律、 行政法规、部门规章的规定，维护公司和全体股东利益，认真履行公司章程和 股东会赋予的职责。董事会议事、决策以及为实施决策所做的各种安排，均以 股东 ...

对外投资管理制度 深圳市兆威机电股份有限公司 二〇二五年四月 对外投资管理制度 第一章 总则 第一条 为了规范深圳市兆威机电股份有限公司（以下简称"公司"）对外投资行 为，加强公司对外投资活动的有效执行，提高资金运作效率，实现公司对外投资 的保值、增值，维护公司及股东的合法权益，依照《中华人民共和国公司法》 （以下简称《公司法》）、《中华人民共和国证券法》（以下简称"《证券 法》"）、《深圳证券交易所股票上市规则》（以下简称"《上市规则》"）、 《深圳证券交易所上市公司自律监管指引第1号——主板上市公司规范运作》等有 关法律、行政法规、部门规章和《深圳市兆威机电股份有限公司章程》（以下简 称"公司章程"）的有关规定，结合本公司实际情况，特制定本制度。 第二条 本制度所称"对外投资"是指公司为获取未来收益而将一定数量的货币资 金、股权及实物、无形资产等作价出资，对外进行各种形式的投资活动。 第三条 本制度适用于公司及其控股子公司的一切对外投资行为。 第四条 公司对外投资行为必须符合国家有关法律法规及产业政策，符合公司发展 战略，有利于增强公司竞争能力，有利于合理配置企业资源，创造良好经济效益， 促进公司可持续发 ...

Financial Performance - The company's operating revenue for 2024 reached ¥1,524,598,553.40, representing a 26.42% increase compared to ¥1,205,945,337.11 in 2023[19] - The net profit attributable to shareholders for 2024 was ¥225,094,344.84, up 25.11% from ¥179,923,314.35 in 2023[19] - The net profit after deducting non-recurring gains and losses was ¥183,641,510.60, reflecting a 37.57% increase from ¥133,487,169.63 in 2023[19] - The basic earnings per share for 2024 was ¥0.94, a 25.33% increase from ¥0.75 in 2023[19] - The total assets at the end of 2024 amounted to ¥4,121,910,305.98, an 8.36% increase from ¥3,804,043,861.54 at the end of 2023[20] - The net assets attributable to shareholders increased to ¥3,226,210,759.87, a 4.49% rise from ¥3,087,682,665.24 in 2023[20] - The weighted average return on equity for 2024 was 7.16%, an increase of 1.20% from 5.96% in 2023[19] - The company achieved operating revenue of 1,524.60 million yuan, a year-on-year increase of 26.42%[45] - The net profit attributable to shareholders was 225.09 million yuan, reflecting a growth of 25.11% compared to the previous year[45] Cash Flow and Investments - The net cash flow from operating activities for 2024 was ¥123,682,270.66, down 36.89% from ¥195,980,233.32 in 2023[19] - The net cash flow from operating activities decreased by 36.89% to ¥123.68 million in 2024, primarily due to increased employee expenses and the impact of discounted bank acceptance bills[97][99] - The net cash flow from investing activities improved by 61.51% to -¥69.78 million in 2024, attributed to a reduction in net outflow from financial investments[98] - The net cash flow from financing activities surged by 220.61% to ¥77.33 million in 2024, driven by increased funding from discounted bank acceptance bills and the issuance of restricted stock for equity incentives[98] - The overall cash and cash equivalents increased by 349.78% to ¥133.08 million in 2024, reflecting improved liquidity[97] - Cash and cash equivalents increased to ¥224,878,416.30, representing 5.46% of total assets, up from 3.46% at the beginning of the year, primarily due to cash management of idle funds[101] Market and Product Development - The company is focusing on the micro transmission and drive system solutions, targeting industries such as smart automotive, consumer technology, and medical technology, which are experiencing rapid growth[30] - In the smart automotive sector, the company has established partnerships with major clients like Bosch and BYD, enhancing its market presence and product demand[31] - The company is actively participating in the development of advanced industrial equipment, aiming to replace imported precision core components and enhance product functionality[33] - The robotics sector is identified as a key growth area, with the company developing smart robotic hands as a core component, which is crucial for the advancement of embodied intelligence[34] - The company launched the world's first dexterous hand product with built-in all-drive units at the Shenzhen High-Tech Fair, featuring 17 active degrees of freedom and the ability to expand configurations[35] - The company specializes in the research, production, and sales of micro-drive systems, with applications in smart vehicles, consumer and medical technology, advanced manufacturing, and robotics[36] - The company is currently developing a mid-mounted motor aimed at overcoming technical deficiencies such as assembly, durability, noise, and transmission stability, with the goal of enhancing its core technology patents and R&D experience[90] Research and Development - The company has maintained a strong focus on R&D capabilities, continuously improving its product offerings to meet the evolving demands of various industries[30] - The company has invested in R&D to improve production processes and technology, maintaining its leading position in the micro drive and transmission industry[49] - The company increased its R&D personnel from 453 in 2023 to 507 in 2024, representing an 11.92% growth[95] - R&D investment rose to approximately ¥155.14 million in 2024, a 20.53% increase from ¥128.71 million in 2023[95] - The company has established a robust R&D infrastructure, including precision testing centers and joint laboratories with renowned universities[66] Talent and Human Resources - The company is committed to talent development, establishing a talent management committee to enhance internal talent identification and training programs[53] - The company has established a comprehensive talent development system, enhancing employee skills across various departments[71] - The company has a total of 2,310 employees at the end of the reporting period, with 1,328 in the parent company and 982 in major subsidiaries[183] - The company has a diverse educational background among employees, with 127 holding master's degrees and 341 holding bachelor's degrees[183] - The average annual salary of employees is higher than the local average salary for private sector employees, reflecting the high skill requirements of the company's products[191] Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring effective operation and management[145] - The company maintains independence from its controlling shareholders in terms of business, personnel, assets, and finance, with no competition issues present[147] - The company has a dedicated compensation and assessment committee to oversee the development and implementation of its compensation policies[193] - The company has established a market value management system to enhance investor confidence and promote sustainable development[140] - The company has disclosed its valuation enhancement plan to align with national policies aimed at boosting the capital market[141] Shareholder Relations - The company plans to distribute a cash dividend of ¥2.85 per 10 shares, based on a total share capital of 240,203,500 shares[5] - The total amount of cash dividends distributed accounts for 100% of the total profit distribution[199] - The company has conducted multiple investor relations activities to engage with institutional investors throughout 2024[137][139] - The annual shareholders' meeting held on May 8, 2024, had a participation rate of 69.74%[151] - The first interim shareholders' meeting on August 8, 2024, saw a participation rate of 70.05%[151]

Financial Performance - The company's revenue for Q1 2025 was ¥367,530,437.85, representing a 17.66% increase compared to ¥312,366,530.08 in the same period last year[3] - Net profit attributable to shareholders decreased by 1.19% to ¥54,709,914.92 from ¥55,371,497.12 year-on-year[3] - Total operating revenue for the current period reached ¥367,530,437.85, an increase of 17.7% compared to ¥312,366,530.08 in the previous period[19] - Net profit for the current period was ¥54,709,914.92, slightly down by 1.2% from ¥55,371,497.12 in the previous period[21] Cash Flow - The net cash flow from operating activities significantly dropped by 84.03% to ¥7,095,473.69, down from ¥44,434,033.96 in the previous year[3] - Cash inflow from operating activities totaled $452.32 million, an increase from $380.07 million year-over-year[24] - Cash outflow from operating activities was $445.22 million, compared to $335.63 million in the previous year[24] - Net cash flow from operating activities was $7.10 million, a significant decrease from $44.43 million year-over-year[24] - Investment activities generated a net cash outflow of ¥6,826,730.84, a decline from a net inflow of ¥75,444,986.85 in the same period last year[9] - Cash inflow from investing activities amounted to $592.67 million, up from $470.68 million year-over-year[25] - Cash outflow from investing activities was $599.50 million, compared to $395.24 million in the previous year[25] - Net cash flow from investing activities was -$6.83 million, a decline from $75.44 million year-over-year[25] - Cash inflow from financing activities reached $134.10 million, a substantial increase from $1.72 million year-over-year[25] - Cash outflow from financing activities totaled $304.86 thousand, down from $1.54 million in the previous year[25] - The net increase in cash and cash equivalents was $134.41 million, compared to $119.86 million year-over-year[25] - The ending balance of cash and cash equivalents was $359.23 million, up from $211.59 million in the previous year[25] Assets and Liabilities - Total assets as of March 31, 2025, were ¥4,213,545,457.52, a 2.22% increase from ¥4,121,910,305.98 at the end of the previous year[4] - Total liabilities rose to ¥920,320,453.13, up from ¥895,699,546.11, indicating a 2.8% increase[17] - The company's total equity attributable to shareholders increased by 2.08% to ¥3,293,225,004.39 from ¥3,226,210,759.87 at the end of the previous year[4] - The company's equity attributable to shareholders reached ¥3,293,225,004.39, an increase of 2.1% from ¥3,226,210,759.87[17] Shareholder Information - The total number of common shareholders at the end of the reporting period is 39,644[11] - The largest shareholder, Shenzhen Qianhai Zhaowei Financial Holdings Co., Ltd., holds 35.44% of shares, totaling 85,120,000 shares[11] - Li Haizhou, a significant shareholder, owns 18.18% of shares, amounting to 43,657,600 shares, with 32,743,200 shares pledged[11] - The total number of preferred shareholders is zero, indicating no preferred shares outstanding[13] Research and Development - Research and development expenses increased by 30.06% to ¥39,664,743.19, up from ¥30,497,261.27 in the same period last year[8] - Research and development expenses for the current period were ¥39,664,743.19, which is a 30.2% increase from ¥30,497,261.27 in the previous period[20] Other Financial Metrics - The weighted average return on equity decreased to 1.68% from 1.78% year-on-year[4] - The company reported a basic and diluted earnings per share of ¥0.23, consistent with the previous period[21] - The company has plans for market expansion and new product development, although specific details were not disclosed in the current report[19]

点击 最 下方 "在看"和" "并分享，"关注"材料汇 添加 小编微信 ，遇见 志同道合 的你 业芬 Part1 灵巧手打开人形机器人应用上限，快速送代 Part2 混合机械方案是趋势,兼具高自由度和承载力 Part3 手部多维感知是方向，促进手脑协同 Part4 头部本体厂全栈自研,零部件提供整体解决方案 PART5 投资建议和风险提示 2 公众号·材料汇 目录 0 公众号 · 材料汇 备注：全文的"预计"如果没有特别说明，均为东吴证券研究所电新组预测 3 ◆ 灵巧手打开人形机器人应用上限，多方参与，2025年开启快速迭代。灵巧手要求具备运动能力、负载能力、 控制能力、感知能力、耐用能力、轻量化等，由驱动、传动、控制、感知四大模块构成。灵巧手是人形机器 人操作性能的核心，决定机器人功能的上限，是具身智能的核心。25年密集主机厂和零部件厂发布灵巧手方 案,且在未来2年灵巧手方案将快速迭代,并投入使用场景中,加速训练人形机器人手脑协同。 混合机械方案是趋势,兼具高自由度和承载力。驱动方案：若电机内置,首选空心杯,部分用步讲:腱绳方 案，电机集成于手臂，空间大，可选无刷有齿槽电机。传动方案：齿轮负责旋转运动调速， ...

Investment Rating - The industry investment rating is optimistic [1] Core Insights - The report highlights significant investment opportunities in the humanoid robot sector, particularly in key components such as lead screws, harmonic reducers, and motors, with a projected market size of approximately 288 billion yuan for equipment at a production scale of 1 million humanoid robots [3][10] - The report recommends companies involved in the production of lead screws and harmonic reducers, emphasizing their potential growth in the humanoid robot market [3][5] Summary by Sections 1. Lead Screws - Lead screws are critical components for linear motion in humanoid robots, with a market size of 14 billion yuan for 1 million units produced [15][39] - Recommended companies include Zhejiang Rongtai and Shuanglin Co., with a focus on high-precision grinding machines and automatic straightening machines [3][19] 2. Harmonic Reducers - Harmonic reducers are essential for converting high-speed input to low-speed output while increasing torque, with a market size of 14 billion yuan for 1 million units produced [37][39] - Companies to watch include Meihua Co., Longsheng Technology, and Haoneng Co., with a focus on high-precision grinding and balancing equipment [3][41] 3. Motors - The report discusses the application of hollow cup motors and frameless torque motors in humanoid robots, with market sizes of 280 billion yuan and 204 billion yuan, respectively, at a production scale of 1 million units [3][48] - The report emphasizes the importance of motor technology in enhancing the performance and efficiency of humanoid robots [48] 4. Equipment Market Potential - The total potential market for equipment required for the mass production of humanoid robots is estimated at 288 billion yuan, with significant contributions from high-precision grinding machines and balancing machines [10][44] - The report outlines the necessary equipment and their respective market sizes, highlighting the importance of domestic suppliers in meeting production demands [10][44]

头部本体厂商选择全栈自研，方案各异，如特斯拉(腱绳)、FigureAI(连杆)、智元(混合)、星动纪元(纯直 驱)等，是灵巧手的主力。独立第三方集成商，如因时机器人、强脑、傲意、灵心巧手、灵巧智能等进 展较快;此外零部件厂商延伸至整手集成，如兆威、雷赛、帕西尼等，同时兼售模组零部件。目前灵巧 手价格差异大，主流价格5-10万/只，中期价格预计降至0.5-3万/只，占本体成本比重20%左右。据东吴 证券测算，2030年人形机器人300万台+，市场空间约900亿，对应零部件市场空间较大的为触觉传感 器、空心杯电机、齿轮、丝杆。 手部多维感知是方向，促进手脑协同 灵巧手需通过触觉传感器、关节力控和编码器等将数据反馈至大脑，从而构建物体物性库和抓握数据库 等，并通过仿真平台，扩大数据集，从而优化大脑的运规的泛化性。触觉传感器追求高灵敏度、高集成 度、高延展性、成本低，目前多技术路线并行。压阻式力维度低(一维法向力)、灵敏性不足(阈值10g)， 在低端先放量;而电容式及电磁式性能更优，感知三维力，力分辨<1g，抗干扰能力提升和体积缩小后， 放量潜力大;视触觉传感器理论上限高，但对数据和算法要求高。 头部本体厂全栈自研， ...

深圳机器人全产业链接会集结了一批机器人"顶流"企业。 深圳商报首席记者 陈小慧 这几天的深圳，集结了一批机器人"顶流"企业，上演了一场现实版的"机器人总动员"。4月26日，为期3 天的机器人全产业链接会（FAIR plus 2025）在深圳圆满闭幕。记者获悉，本次活动观展近3.5万人次， 成功打造了集新品发布、产品呈现、产业展览、技术交流、学术研讨、供需对接于一体的国际级机器人 合作交流盛会。 本次活动由深圳市工业和信息化局、中国科学院深圳先进技术研究院指导，深圳市机器人协会主办， 以"智启未来、链动全球"为主题。作为深圳市内举办的机器人产业规模最大、品类最多的最新成果展， 本次活动成为揭示深圳机器人产业"创新密码"的重要窗口，全方位展示了深圳良好的机器人产业发展生 态，引领具身智能机器人产业发展新浪潮。 此外，据不完全统计，本次链接会累计促成近50家揭榜单位与发榜单位达成意向合作，涉及金额6000余 万元，成功推动产业上下游交流合作和机器人产品在多个实际场景中的落地应用。 多家展商发布新品 "链"接产业上下游 200余家机器人"论剑" 记者了解到，本次活动吸引了机器人产业链上下游企业积极参展，共计200余家 ...