行 华福证券 机械设备 2026 年 02 月 08 日 业 研 究 机械设备 链传动赋能仿生智造，征和工业助力具身智能新突破 投资要点： 风险提示 市场及政策风险、行业竞争加剧、人形机器人进展不及预期等 强于大市（维持评级） 一年内行业相对大盘走势 技术定制配套，征和工业支撑首款完全仿生机器人发布 行 业 定 期 报 告 近日，卓益得发布全球首款完全仿生具身智能机器人"Moya"系 列，填补行业空白，征和工业作为其核心战略合作伙伴，凭借三十年 链传动技术积淀，为该机器人定制研发微型链系统并打造链式关节模 组，成为其核心配套供应商。该微型链系统在材料、工艺和组装技术 上实现突破，抗冲击能力、使用寿命大幅提升，传动精度高且运行稳 定，链式关节模组则相较传统方案实现体积、重量降低和扭矩提升， 为机器人实现高自由度类人化仿生运动提供关键支撑。 深化战略合作，征和工业拓展机器人链传动应用边界 征和工业的核心产品与技术获得卓益得高度认可，双方未来将在 灵巧手、关节传动等核心领域深化合作，重点研发高精度、轻量化的 仿生链式关节及耐久的灵巧手，打造适配多场景的链传动解决方案， 满足机器人在民用康养、工业作业等不同场景的作业 ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 603129 | 春风动力 | 258.07 | 2.25% | 1.64万 | 4.20亿 | | 603529 | 爰玛科技 | 29.35 | 1.98% | 6.28万 | · 1.83亿 | | 603766 | 障 | 15.39 | 1.58% | 14.79万 | 2.27亿 | | 301345 | 涛涛车业 | 221.00 | 1.58% | 1.41万 | 3.09亿 | | 600818 | 中路股份 | 9.90 | 1.33% | 3.95万 | 3902.37万 | | 300994 | 久祺股份 | 16.85 | 0.96% | 2.74万 | 4623.33万 | | 002105 | 信隆健康 | 7.10 | 0.71% | 5.40万 | 3829.24万 | | 000913 | 钱江摩托 | 15.65 | 0.58% | 5.12万 | 7974.91万 | | 603787 | 新目股份 | 13 ...

Group 1 - The motorcycle and other sectors experienced a decline of 1.6% on January 29, with Zhenghe Industrial leading the drop [1][2] - The Shanghai Composite Index closed at 4157.98, up 0.16%, while the Shenzhen Component Index closed at 14300.08, down 0.3% [1] - Key stocks in the motorcycle sector showed mixed performance, with Qianjiang Motorcycle up by 1.89% and Zhenghe Industrial down by 5.33% [1][2] Group 2 - The net capital outflow from the motorcycle and other sectors was 165 million yuan, while retail investors saw a net inflow of 131 million yuan [2][3] - Major stocks like Aima Technology and New Day Shares had significant retail inflows, with New Day Shares seeing a retail net inflow of 950.27 million yuan [3] - The capital flow data indicates that institutional investors were net sellers in several stocks, including New Day Shares and Qianjiang Motorcycle [3]

1月29日，征和工业跌5.07%，截至发稿，报66.29元/股，成交1.05亿元，换手率1.91%，总市值54.19亿 元。 资料显示，青岛征和工业股份有限公司位于山东省青岛市平度市香港路112号，成立日期1999年10月9 日，上市日期2021年1月11日，公司主营业务涉及各类链传动系统的研发、制造和销售。主营业务收入 构成为：车辆链系统58.07%，农业机械链系统17.46%，工业设备链系统16.81%，下脚料等收入5.04%， 其他产品2.62%。 从征和工业十大流通股东角度 数据显示，南方基金旗下1只基金位居征和工业十大流通股东。南方津享稳健添利债券A（018471）三 季度新进十大流通股东，持有股数29.78万股，占流通股的比例为0.37%。根据测算，今日浮亏损失约 105.42万元。 南方津享稳健添利债券A（018471）成立日期2023年6月20日，最新规模30.46亿。今年以来收益 1.09%，同类排名1330/7083；近一年收益4.09%，同类排名1153/6282；成立以来收益11.81%。 南方津享稳健添利债券A（018471）基金经理为吴冉劼、郑少波。 截至发稿，吴冉劼累计任职时间5 ...

【长城机械】机器人调研掘金 #恒勃股份 时间：2月2日(周一)15:00 地点：台州 #福达股份（长坂） 时间：2月3日(周二)15:00 地点：扬州 #恒辉安防 时间：2月4日(周三)15:00 地点：南通市如东县 #征和工业 时间：2月6日(周五)15:00 地点：上海 名额有限，每场限5人 往期 【长城机械】机器人调研掘金 #恒勃股份 时间：2月2日(周一)15:00 地点：台州 #福达股份（长坂） 时间：2月3日(周二)15:00 地点：扬州 #恒辉安防 时间：2月4日(周三)15:00 地点：南通市如东县 #征和工业 时间：2月6日(周五)15:00 地点：上海 名额有限，每场限5人 往期精彩调研： 拓普集团、恒立液压、北特科技、浙江荣泰、福莱新材、均胜电子、均普智能、旭升集团 ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 603766 | 降替通用 | 15.97 | 3.23% | 30.83万 | | 4.92 乙 | | 603129 | 春风动力 | 274.00 | 2.93% | 2.02万 | | · 5.47 Z | | 003033 | 征和工业 | 71.13 | 1.11% | 1.90万 | | 1.33亿 | | 301345 | 涛涛车业 | 213.13 | 0.83% | 1.23万 | | 2.59亿 | | 002105 | 信隆健康 | 7.31 | 0.83% | 21.36万 | | 1.56亿 | | 6000099 | 林海股份 | 10.97 | 0.46% | 3.03万 | | 3299.65万 | | 60006899 | 九号公司 | 56.03 | 0.41% | 9.81万 | | 5.48亿 | | 300994 | 久祺股份 | 16.97 | 0.06% | 2.56万 | | 430 ...

Market Overview - The motorcycle and other sectors experienced a slight decline of 0.02% on January 26, with Zhenghe Industrial leading the drop [1] - The Shanghai Composite Index closed at 4132.61, down 0.09%, while the Shenzhen Component Index closed at 14316.64, down 0.85% [1] Stock Performance - Key stocks in the motorcycle sector showed varied performance, with Qianli Technology rising by 4.35% to a closing price of 12.00, while Zhenghe Industrial fell by 4.55% to 70.35 [2][1] - Other notable declines included Taotao Vehicle down 4.20% to 211.38 and Yong'an Xing down 3.92% to 18.63 [2] Trading Volume and Value - Qianli Technology had a trading volume of 957,100 shares, resulting in a transaction value of approximately 1.145 billion [1] - Zhenghe Industrial recorded a trading volume of 22,500 shares with a transaction value of around 160 million [2] Capital Flow Analysis - The motorcycle and other sectors saw a net outflow of 10.85 million from main funds, while retail investors experienced a net outflow of 29.69 million [2] - Conversely, speculative funds recorded a net inflow of 40.55 million [2] Individual Stock Capital Flow - Qianli Technology had a main fund net inflow of 37.42 million, while retail investors saw a net outflow of 42.08 million [3] - Zhenghe Industrial experienced a significant main fund net outflow of 24.62 million, indicating a bearish sentiment [3]

Group 1 - The motorcycle and other sectors experienced a decline of 1.89% on January 20, with Zhenghe Industrial leading the drop [1] - The Shanghai Composite Index closed at 4113.65, down 0.01%, while the Shenzhen Component Index closed at 14155.63, down 0.97% [1] - Major stocks in the motorcycle sector showed mixed performance, with Aima Technology up by 1.50% and Zhenghe Industrial down by 4.16% [1][2] Group 2 - The net outflow of main funds in the motorcycle and other sectors was 182 million yuan, while retail investors saw a net inflow of 126 million yuan [2] - The table of fund flows indicates that XD Longxin Tong had a main fund net inflow of 17.44 million yuan, while Shanghai Phoenix had a net inflow of 5.63 million yuan [3] - Retail investors showed a positive net inflow in several stocks, including New Day Co. with a net inflow of 463.27 million yuan [3]

Group 1 - The core point of the news is that Zhenghe Industrial's stock price dropped by 5.05% to 70.01 CNY per share, with a trading volume of 137 million CNY and a turnover rate of 2.38%, resulting in a total market capitalization of 5.723 billion CNY [1] - Zhenghe Industrial, established on October 9, 1999, and listed on January 11, 2021, is located in Pingdu City, Qingdao, Shandong Province, and specializes in the research, manufacturing, and sales of various chain transmission systems [1] - The company's main business revenue composition includes vehicle chain systems (58.07%), agricultural machinery chain systems (17.46%), industrial equipment chain systems (16.81%), scrap income (5.04%), and other products (2.62%) [1] Group 2 - From the perspective of fund holdings, a fund under Everbright Prudential has Zhenghe Industrial as one of its top ten holdings, specifically the Everbright Prudential Specialized and New Mixed A Fund (016477), which reduced its holdings by 100 shares to 32,500 shares, accounting for 4.14% of the fund's net value [2] - The Everbright Prudential Specialized and New Mixed A Fund was established on January 16, 2023, with a latest scale of 24.9455 million CNY, and has achieved a year-to-date return of 4.72% [2] - The fund manager, Cui Shutian, has a tenure of 5 years and 205 days, with the fund's total asset scale at 1.669 billion CNY, and the best and worst returns during his tenure being 67.07% and -25.54%, respectively [2]

转自：新华财经 近日，由青岛征和工业股份有限公司主办的"具身智能灵巧手发展开年论坛暨全球首创链式灵巧手发布会"在上海张江科学城成功举办。征和工业在会上正式 推出全球首创链式灵巧手——臻手·CHOHOHand。 受访公司供图 八大优势破解灵巧手实用化落地难题 据了解，上海征和机器人有限公司是征和工业的子公司，其链式灵巧手研发始于2024年3月，从布局《一种链传动灵巧手手指结构》发明专利，到首款微型 链试样完成，再到多版本原型机迭代，历时近两年完成技术攻坚。这一系列动作背后，是征和对机器人灵巧手行业"精度、耐久、强度、速度、重量、成 本"六大核心矛盾的深刻洞察与精准突破。 受访公司供图 发布会现场，征和工业董事长金玉谟在致辞中回顾了企业发展历程，同时擘画了向智能执行领域延伸的战略蓝图。他表示，公司战略定位灵巧手为公司第二 增长曲线。全球首创链式灵巧手的发布，不仅标志着公司实现从"制造"向"智造"、从"链系统"向"灵巧执行"的战略跨越，更以实际行动践行了"改变中国和世 界制造"的企业愿景。 当前，全球机器人灵巧手市场正处于快速增长期，5年复合增速高达110%。臻手·CHOHOHand的发布不仅填补了链式传动灵巧手的 ...