Group 1 - Core viewpoint: Lixing Co., Ltd. has signed a strategic cooperation agreement with Zhejiang Rongtai Electric Equipment Co., Ltd. to collaborate in the application of rolling elements in key areas such as industrial robot screw components, aiming for a win-win and sustainable partnership [1] - Revenue composition for Lixing Co., Ltd. in 2024 is 97.58% from the bearing manufacturing industry and 2.42% from other business revenues [1] - As of the report date, Lixing Co., Ltd. has a market capitalization of 7.1 billion yuan [1]

Core Viewpoint - The signing of the strategic cooperation agreement between Lixing Co., Ltd. and Zhejiang Rongtai Electric Equipment Co., Ltd. marks the establishment of a partnership aimed at collaborative development in the field of rolling body applications for industrial robot screw rod components [1] Group 1: Strategic Cooperation - The agreement signifies a formal strategic partnership between the two companies [1] - The collaboration aims to create a win-win and sustainable development relationship [1] - Both companies will leverage their strengths and share resources for synergistic development [1] Group 2: Technological Advancements - Lixing Co., Ltd. will utilize its deep technical expertise in precision rolling body manufacturing to provide comprehensive solutions [1] - The solutions will focus on lightweight, low noise, wear resistance, and high-temperature resistance for core applications in industrial robot screw rod components [1] - This partnership is expected to contribute to industrial upgrades and technological advancements [1]

（文章来源：第一财经） 力星股份公告，公司与浙江荣泰电工器材股份有限公司签署了《战略合作协议》，双方拟在产业机器人 用丝杆部件等重要领域的滚动体应用开展战略合作。本协议仅为战略合作协议，无需提交公司董事会或 股东大会审议，无需有关部门审批。本协议的签署符合公司发展战略及股东的长远利益，不会对公司本 年度财务状况及经营业绩构成重大影响。 ...

Core Viewpoint - Lixing Co., Ltd. (300421.SZ) has signed a strategic cooperation agreement with Zhejiang Rongtai Electric Equipment Co., Ltd. to collaborate in the field of rolling body applications for industrial robot screw components, aiming for a win-win and sustainable partnership [1] Group 1 - The strategic cooperation agreement was signed on November 6, 2025, marking the official establishment of a partnership between the two companies [1] - The collaboration will focus on complementary advantages and resource sharing, promoting deep cooperation in key areas such as rolling body applications for industrial robot screw components [1] - Lixing Co., Ltd. will leverage its expertise in precision rolling body manufacturing to provide comprehensive solutions that are lightweight, low-noise, wear-resistant, and high-temperature resistant, contributing to industrial upgrades and technological advancements [1]

Core Viewpoint - The signing of the strategic cooperation agreement between Lixing Co., Ltd. and Zhejiang Rongtai Electric Equipment Co., Ltd. marks the establishment of a partnership aimed at collaborative development in the field of rolling body applications for industrial robot screw rod components [1] Group 1: Strategic Cooperation - The agreement was signed on November 6, 2025, indicating a formal partnership between the two companies [1] - The collaboration focuses on key areas such as rolling body applications for industrial robot screw rod components, aiming for a win-win and sustainable development relationship [1] Group 2: Advantages and Solutions - The partnership is expected to create a synergistic development model through complementary advantages and resource sharing [1] - Lixing Co., Ltd. will leverage its deep technical expertise in precision rolling body manufacturing to provide comprehensive solutions that are lightweight, low-noise, wear-resistant, and high-temperature resistant for core applications in industrial robots [1]

证券代码：300421 证券简称：力星股份 公告编号：2025-036 1、基本情况 江苏力星通用钢球股份有限公司 关于签订战略合作协议的公告 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、本次签署的《战略合作协议》仅为战略合作框架协议，具体的合作内容 和实施细节尚待进一步落实和明确，敬请广大投资者注意投资风险。 2、本协议的签署不会对公司本年度财务状况及经营业绩构成重大影响。 3、公司将根据本次事项的后续进展情况及时履行相应的审批程序和信息披 露义务。 2025 年 11 月 6 日，江苏力星通用钢球股份有限公司（以下简称"公司"或"力 星股份"）与浙江荣泰电工器材股份有限公司（以下简称"浙江荣泰"）签署了《战 略合作协议》（以下简称"本协议"），双方拟在产业机器人用丝杆部件等重要领域 的滚动体应用开展战略合作, 打造双赢、可持续发展的战略合作伙伴关系。 本协议仅为战略合作协议，无需提交公司董事会或股东大会审议，无需有关 部门审批。公司将在具体合作事宜明确后，根据《深圳证券交易所创业板股票上 市规则》等法律法规和《公司章程》的有关规定，履 ...

Core Viewpoint - The robotics sector has experienced a significant surge, with multiple stocks reaching their daily limit up, indicating strong investor interest and market momentum [1] Group 1: Stock Performance - Wuzhou Xinchun, Hanyu Group, and Fangzheng Electric have all hit the daily limit up, showcasing robust performance in the robotics sector [1] - Zhongrun Optical has seen an increase of over 10%, reflecting positive market sentiment [1] - Other companies such as Zhejiang Xiantong, Green Harmonic, Lixing Co., and Hanwei Technology have also shown rapid gains, contributing to the overall bullish trend in the industry [1]

Market Overview - The general equipment sector experienced a decline of 1.05% on November 4, with Lixing Co. leading the drop [1] - The Shanghai Composite Index closed at 3960.19, down 0.41%, while the Shenzhen Component Index closed at 13175.22, down 1.71% [1] Top Gainers - Baose Co. saw a significant increase of 20.00%, closing at 26.22 with a trading volume of 550,700 shares and a transaction value of 1.414 billion [1] - Xintian Technology rose by 11.92%, closing at 4.60 with a trading volume of 1,436,800 shares and a transaction value of 658 million [1] - Rongyi Precision increased by 10.52%, closing at 25.85 with a trading volume of 217,700 shares and a transaction value of 568 million [1] Top Losers - Lixing Co. fell by 7.60%, closing at 22.36 with a trading volume of 418,200 shares and a transaction value of 960 million [2] - Hanwei Technology decreased by 6.70%, closing at 52.88 with a trading volume of 237,000 shares and a transaction value of 1.276 billion [2] - Boying Special Welding dropped by 6.52%, closing at 39.70 with a trading volume of 146,200 shares and a transaction value of 596 million [2] Capital Flow - The general equipment sector saw a net outflow of 1.314 billion from institutional investors, while retail investors contributed a net inflow of 1.046 billion [2] - The sector's capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors increased their positions [2] Individual Stock Capital Flow - Xue Ren Group had a net inflow of 4.91 billion from institutional investors, but a net outflow of 1.89 billion from speculative funds [3] - Huadong CNC experienced a net inflow of 2.60 billion from institutional investors, with a net outflow of 1.15 billion from speculative funds [3] - Tongfei Co. had a net inflow of 98.6685 million from institutional investors, while retail investors saw a net outflow of 1.10 billion [3]

Group 1 - The core point of the news is that Lixing Co., Ltd. experienced a decline of 5.29% in its stock price, reaching 22.92 CNY per share, with a trading volume of 394 million CNY and a turnover rate of 7.26%, resulting in a total market capitalization of 6.739 billion CNY [1] - Lixing Co., Ltd. is based in Rugao City, Jiangsu Province, and was established on December 12, 2000. The company was listed on February 17, 2015, and its main business involves the research, production, and sales of precision bearing rolling elements [1] - The revenue composition of Lixing Co., Ltd. is as follows: steel balls account for 85.00%, rollers 13.25%, processing and packaging services 1.15%, waste sales 0.58%, ceramic balls 0.01%, and others 0.00% [1] Group 2 - From the perspective of the top ten circulating shareholders, Guoshou Anbao Fund has a fund that ranks among the top shareholders of Lixing Co., Ltd. The fund, Guoshou Anbao Smart Life Stock A (001672), held 3.6683 million shares in the third quarter, unchanged from the previous period, representing 1.59% of the circulating shares [2] - The estimated floating loss for Guoshou Anbao Smart Life Stock A (001672) today is approximately 4.6954 million CNY. The fund was established on September 1, 2015, with a current scale of 2.21 billion CNY. Year-to-date returns are 38.66%, ranking 1211 out of 4216 in its category; the one-year return is 48.99%, ranking 764 out of 3896; and since inception, the return is 225.58% [2] Group 3 - The fund manager of Guoshou Anbao Smart Life Stock A (001672) is Zhang Qi, who has a cumulative tenure of 15 years and 124 days. The total asset size of the fund is 2.773 billion CNY, with the best fund return during his tenure being 227.32% and the worst being -19.09% [3]

Core Insights - The report emphasizes a strategic shift towards financial and consumer sectors, indicating a positive market outlook following the resolution of tariff impacts and a rebound after initial panic [4][7] - The report highlights the importance of new economic technologies and service consumption, alongside traditional resource industries, as key investment themes for the upcoming quarter [4][7] - The report identifies a favorable environment for investment, driven by domestic policy shifts and international cooperation, particularly in consumption and technology sectors [4][7] Company Summaries - **Haier Smart Home (600690)**: The company is positioned as a global leader in home appliances, focusing on digital transformation and supply chain optimization. It aims to enhance its global competitiveness through increased self-sufficiency in core components and overseas expansion [12] - **Lixing Shares (300421)**: As a leader in the rolling body industry, the company is expanding into high-end products like ceramic rolling bodies, benefiting from the recovery in high-speed rail and wind power sectors, with steady growth expected [13] - **China National Glass (600176)**: The company is experiencing improved profitability due to product price recovery and cost reductions. Its gross margin for Q3 2025 was 32.8%, reflecting a 4.6 percentage point increase year-on-year [14] - **Lihigh Food (300973)**: The company is leveraging management efficiency, channel benefits, and product upgrades to enhance performance [15] - **Muyuan Foods (002714)**: As a leading player in pig farming, the company maintains a solid cost advantage and is committed to high-quality development [16] - **Landai Technology (002765)**: The company is rapidly expanding its new energy business, with significant growth in sales and revenue share expected from 2022 to 2024 [17] - **Hui Electric (002463)**: The company is increasing capital expenditure to support growth, with a focus on AI servers and switches, and is expected to reach a reasonable economic scale by the end of 2025 [19] - **Xiechuang Data (300857)**: The company is investing heavily in computing power, with strong demand for AI computing services driving growth [20] - **Tencent Holdings (00700)**: The company has established a robust user base through its social networks, enabling it to build a diverse ecosystem across various sectors, including digital content and financial technology [21] - **Greentown Service (02869)**: The company is focusing on its core business and reforming its operations, resulting in rapid profit growth and improved financial metrics [22]