Investment Rating - The report maintains an "Outperform" rating for the mechanical industry [4]. Core Views - The report emphasizes investment opportunities in AI infrastructure, humanoid robots, and import substitution, focusing on companies with strong fundamentals and technological capabilities [2][24]. - The mechanical industry is experiencing a structural upgrade driven by domestic industrial advancements and increasing global competitiveness [16][20]. Summary by Sections Market Overview - In September, the mechanical industry index rose by 5.29%, outperforming the CSI 300 index by 2.09 percentage points [12]. - The TTM P/E and P/B ratios for the mechanical industry are approximately 38.26 and 3.12, respectively, showing a quarter-on-quarter increase [12]. - The manufacturing PMI for September was reported at 49.80%, with the equipment manufacturing PMI at 51.90%, indicating a positive trend [12][19]. Key Investment Directions - **AI Infrastructure**: The report highlights significant investments in AI infrastructure, particularly in AI liquid cooling systems, gas turbines, and cooling units, driven by demand for computational power [25]. - **Humanoid Robots**: The humanoid robot sector is moving towards commercialization, with several manufacturers receiving large orders, indicating a growing market [3][25]. - **Import Substitution**: The report suggests focusing on companies that are positioned well in the import substitution space, particularly those with strong fundamentals and market positions [24][28]. Recommended Companies - Key recommended companies include: - **AI Infrastructure**: Feirongda, Gaolan Co., Tongfei Co., Nanfeng Co., and Yidong Electronics [25][29]. - **Humanoid Robots**: Feirongda, Longxi Co., Weiman Sealing, Hengli Hydraulic, and Huichuan Technology [3][29]. - **General Recommendations**: Huace Detection, Guangdian Measurement, Yizhiming, and others [24][32]. Performance Forecast - The report provides a performance forecast for key companies, indicating resilience in operations with expected revenue and profit growth across various sectors [33].

Core Viewpoint - The stock of Yizhiming has shown a significant increase in price and trading activity, indicating positive market sentiment and potential growth in the company's financial performance [1][2]. Financial Performance - As of June 30, Yizhiming reported a revenue of 2.746 billion yuan, representing a year-on-year growth of 15.89% [2]. - The net profit attributable to shareholders for the same period was 345 million yuan, reflecting a year-on-year increase of 15.15% [2]. - Cumulatively, the company has distributed 1.192 billion yuan in dividends since its A-share listing, with 578 million yuan distributed over the past three years [3]. Stock Performance - Yizhiming's stock price increased by 34.49% year-to-date, although it has experienced a decline of 4.15% over the last five trading days [1]. - The stock was trading at 26.32 yuan per share with a market capitalization of 12.333 billion yuan as of September 29 [1]. Shareholder Structure - The number of shareholders decreased by 4.63% to 30,200 as of June 30, with an average of 14,989 shares held per shareholder, an increase of 4.86% [2]. - Major shareholders include Hong Kong Central Clearing Limited and Guotou Securities, with changes in their holdings noted [3].

伊之密股份有限公司 证券代码：300415 证券简称：伊之密 公告编号：2025-062 | 广东美的美善科技投资合伙企业（有限合伙） | 有限合伙人 | 10,035 | 29.9982 | | --- | --- | --- | --- | | 广州科技成果产业化引导基金合伙企业（有限 合伙） | 有限合伙人 | 6,555 | 19.5952 | | 佛山市顺德区悦城邦投资有限公司 | 有限合伙人 | 5,522 | 16.5072 | | 邓伟其 | 有限合伙人 | 3,000 | 8.9681 | | 伊之密股份有限公司 | 有限合伙人 | 2,000 | 5.9787 | | 广州开发区科创母基金管理有限公司 | 有限合伙人 | 4,000 | 11.9574 | | 会通新材料股份有限公司 | 有限合伙人 | 2,000 | 5.9787 | | 合计 | | 33,452 | 100.0000 | 近日美智二期基金进行扩募，合伙企业的出资额由人民币 33,452 万元变更 为 49,000 万元。本次新增出资人民币 15,548 万元，其中： （1）普通合伙人美的创业投资管理有限公司拟以货币方 ...

Group 1 - The stock price of Yizhiming has declined for three consecutive days, with a total drop of 5.28% during this period, currently trading at 27.46 CNY per share [1] - Yizhiming Co., Ltd. is based in Shunde, Guangdong, and was established on February 6, 2004, with its IPO on January 23, 2015 [1] - The company's main business includes the design, research and development, production, sales, and service of injection molding machines, die-casting machines, rubber machines, high-speed packaging systems, molds, and robotic automation systems [1] Group 2 - The revenue composition of Yizhiming is as follows: injection molding machines account for 70.41%, die-casting machines for 20.26%, other products for 4.98%, and rubber injection machines for 4.35% [1] - Dongcai Fund has a significant holding in Yizhiming, with its Dongcai Industry Preferred Mixed Fund A (016487) increasing its position by 7,000 shares in the second quarter, now holding 40,000 shares, which represents 7.37% of the fund's net value [2] - The Dongcai Industry Preferred Mixed Fund A has a total scale of 10.2192 million CNY and has achieved a year-to-date return of 24.69%, ranking 3642 out of 8244 in its category [2]

在与机器人相关业务方面，投资者关注到美的集团与库卡联合研发类人形机器人项目，询问伊之密与库 卡的合作情况。公司表示与库卡是战略合作伙伴，双方将发挥各自产业优势，在工业机器人领域携手推 动产业升级与技术创新。 关于产能，投资者询问是否存在因产能不足导致延期交付的问题，公司称目前产能利用率相对合理，未 发生此类情况。 9月19日，伊之密在2025年广东辖区投资者集体接待日暨辖区上市公司中报业绩说明会上，接受了投资 者网上提问。此次活动吸引众多投资者关注，公司董事会秘书肖德银、财务总监杨远贵出席并回应投资 者关切。 在机器人布局方面，公司多次强调设有机器人事业部，主要为公司主机配套，并为客户提供成套解决方 案。此外，投资者还询问成立基金的投资方向及机器人事业部是否考虑人形机器人，公司表示会积极把 握市场机遇。 投资者活动关系类别为"2025年广东辖区投资者集体接待日暨辖区上市公司中报业绩说明会"，时间为 2025年9月19日（星期五）下午15:30 - 17:00，地点通过全景网"投资者关系互动平 台"（https://ir.p5w.net）采用网络远程方式进行。参与单位为投资者网上提问，上市公司接待人员为董 事会 ...

Group 1 - The company, Yizhim, stated on September 19 that its injection molding machines can utilize polyether ether ketone (PEEK) materials for production [2] - The company will continue to monitor the development direction of materials represented by PEEK and seize related industry development opportunities [2]

Group 1: Company Performance - The company currently has sufficient orders and is experiencing good operational conditions [2] - The capacity utilization rate is reasonable, with no delays in delivery due to insufficient capacity [3] Group 2: Strategic Partnerships - The company has a strategic partnership with KUKA, focusing on automation solutions and intelligent manufacturing systems [3] - Collaboration with KUKA aims to explore new models, technologies, and applications in the industrial robotics sector [3] Group 3: Robotics Division - The company has established a robotics division that primarily supports its main products and provides complete solutions to customers [3] - The robotics division is actively seeking investment opportunities that align with the company's development needs [3]

中国·北京 北京市朝阳区建外大街甲 14 号广播大厦 5/9/10/13/17 层 邮编：100022 电话：（010）65219696 传真：（010）88381869 北京海润天睿律师事务所 关于伊之密股份有限公司 2025 年第二次临时股东大会的法律意见书 法律意见书 北京海润天睿律师事务所 关于伊之密股份有限公司 2025 年第二次临时股东大会的法律意见书 致：伊之密股份有限公司 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》）、《上市公司股东会规则》（以下简称《股东会规则》） 以及其他相关规章的规定，北京海润天睿律师事务所（以下称"本所"）接受伊之 密股份有限公司（以下简称"公司"）委托，指派本所邹盛武、王羽律师（以下称 "本所律师"）现场出席公司 2025 年第二次临时股东大会，并就本次股东大会的 召集和召开程序、出席会议人员及会议召集人资格、审议事项以及表决方式、表 决程序、表决结果等相关事项依法进行见证。 本所律师已审查了公司提供的召开本次股东大会的有关文件。公司已向本所 及本所律师承诺其所提供的文件和所作的陈述、说明是完整、真实和有效的，无 ...

证券代码：300415 证券简称：伊之密 公告编号：2025-061 伊之密股份有限公司 关于 2025 年第二次临时股东大会决议公告 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。 特别提示： 1.本次股东大会无出现否决议案的情形。 2.本次股东大会无涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 1、会议召开日期和时间： 现场会议时间：2025 年 9 月 19 日（星期五）下午 2:30； 网络投票时间：通过深圳证券交易所交易系统进行网络投票时间为 2025 年 9 月 19 日上午 9:30-11:30，下午 1:00-3:00；通过深圳证券交易所互联网投票系统 投票时间为 2025 年 9 月 19 日上午 9:15 至 2025 年 9 月 19 日下午 3:00 的任意时 间。 2、现场会议召开地点：广东省佛山顺德高新区（容桂）科苑三路22号8号会 议室。 3、召开方式：现场投票和网络投票相结合。 4、会议召集人：伊之密股份有限公司董事会。 （1）股东出席的总体情况： 通过现场和网络投票的股东 254 人，代表股份 177,063,7 ...

Group 1 - The company, Yizhiming (300415.SZ), has announced that it possesses the spaceA industrial 3D printer products [1] - The spaceA 3D printers utilize thermoplastic granules and other materials for printing related products [1]