事件：11 月20 日，蓝思科技发布投资者关系活动记录表，表示，目前公司已切入北美及国内多家头部 机器人企业的供应链，关节模组、灵巧手、结构件已批量交付，人形机器人、四足机器人整机组装规模 位居行业前列。预计今年人形机器人出货3000 台以上，四足机器狗10000 台，初步成为最大的具身智能 硬件制造平台之一。 2026 年，预计实现人形机器人核心部件和整机组装规模翻番，2027 年人形机器人与四足机器狗出货量 稳居全球前列。 拥有众多全球知名客户，持续走向平台化：在消费电子产品和智能汽车领域，公司拥有众多全球知名客 户，包括苹果、三星、华为、小米、OPPO、vivo、荣耀、谷歌、Meta，特斯拉、宁德时代、宝马、奔 驰、大众、理想、蔚来、比亚迪等。平台化布局方面，公司已具备以核心技术为支撑的产业化能力体 系，紧抓市场扩展所带来的机遇，积极拓展从消费电子、智能汽车与座舱到智能穿戴，以及智慧零售、 智能机器人等方面的全领域应用。在智能手机与电脑方面，根据公司发布的2025 年半年报显示，2025 年上半年，公司智能手机与电脑类业务实现营业收入271.85 亿元，同比增长13.19%。公司持续巩固在 玻璃、陶瓷、 ...

Group 1: Institutional Research Trends - The overall institutional research activity remains high, with 404 listed companies disclosing investor research records as of November 21 [2] - Companies such as Rongbai Technology and Lens Technology received attention from over 100 institutions [2] - Only 36 of the companies that accepted institutional research reported positive returns, with the top three performers being Shen Zhonghua A (up 32.24%), Dawei Co., Ltd. (up 16.87%), and Tongyi Co., Ltd. (up 16.51%) [2] Group 2: Lithium Battery Sector - The lithium battery sector is experiencing heightened activity due to rising lithium material prices, with companies like Rongbai Technology gaining significant institutional interest [4] - Rongbai Technology has transformed from a leader in ternary cathode materials to a global leader in new energy materials, focusing on sodium-ion battery materials [4] - The company plans to establish a 6,000-ton pilot line by 2025 and aims for a production capacity of 100,000 tons of sodium-ion materials by 2030, with plans for global localization in North America and Europe [4] Group 3: Phosphate Iron Lithium Production - Fengyuan Co., Ltd. has established a total production capacity of 225,000 tons for phosphate iron lithium, with an additional 75,000 tons under construction [5] - The company plans to adjust its production capacity based on industry trends and customer demand, maintaining high utilization rates due to growing market demand since Q4 2025 [5] - Fengyuan aims to enhance its operational efficiency and profitability through improved product competitiveness and deeper collaboration with key customers [5] Group 4: Embodied Intelligence Developments - Companies are focusing on embodied intelligence, with Shiling Co., Ltd. establishing a robotics division in 2024 to develop and produce robotic components [7] - Hongrun Construction has launched a humanoid robot, Star Dynamics, in collaboration with Matrix Super Intelligence, aiming for commercial viability by 2026 [8] - The company plans to expand its design team to 60-100 members to enhance product development and commercialization efforts [8] Group 5: Lens Technology's Robotics Expansion - Lens Technology has a strong foothold in the robotics sector, focusing on the design and production of various industrial robots [10] - The company has inaugurated a new facility capable of producing 10,000 large automation devices and 500,000 embodied intelligent robots annually [10] - Lens Technology aims to become a leading global manufacturer of embodied intelligent robots, with projected shipments of over 3,000 humanoid robots and 10,000 quadruped robots this year [11]

Group 1: Institutional Research Trends - The overall institutional research activity remains high, with 404 listed companies disclosing investor research records as of November 21 [2] - Companies like Rongbai Technology and Lens Technology received attention from over 100 institutions [2] - Only 36 of the companies that accepted institutional research reported positive returns, with the top three performers being Shen Zhonghua A (up 32.24%), Dawei Co., Ltd. (up 16.87%), and Tongyi Co., Ltd. (up 16.51%) [2] Group 2: Lithium Battery Sector - The lithium battery sector is experiencing heightened activity due to rising lithium material prices, with companies like Rongbai Technology gaining significant institutional interest [4] - Rongbai Technology has transformed from a leader in ternary cathode materials to a global leader in new energy materials, focusing on sodium-ion battery materials as a key growth area [4] - The company plans to establish a 6,000-ton pilot line by 2025 and aims for a sodium-ion production capacity of 100,000 tons by 2030, with plans for global localization in North America and Europe [5] Group 3: Phosphate Iron Lithium Capacity - Fengyuan Co., Ltd. has established a phosphate iron lithium capacity of 225,000 tons, with an additional 75,000 tons under construction [5] - The company anticipates high utilization rates for its phosphate iron lithium products due to increasing downstream demand starting from Q4 2025 [6] - Fengyuan aims to enhance its operational efficiency and profitability through improved product competitiveness and deeper collaboration with key customers [6] Group 4: Embodied Intelligence Sector - Companies are focusing on the embodied intelligence sector, with Shiling Co., Ltd. planning to establish a robotics division in 2024 to develop and produce robotic components [8] - Hongrun Construction has launched a humanoid robot, Star Dynamics, in collaboration with Matrix Super Intelligence, aiming for commercial viability by 2026 [9][10] - Lens Technology has a comprehensive robotics manufacturing base, capable of producing 10,000 large automation devices and 500,000 embodied intelligent robots annually, with significant growth expected in humanoid and quadruped robot shipments [12][13]

本周（11月16日—11月21日）机构调研热度总体维持在高位，截至11月21日17时，共有404家上市公司 披露机构投资者调研记录。其中容百科技（688005）、蓝思科技（300433）接待百家以上的机构。 "钠电新兴技术的发展并非对原有锂电市场的替代，而是共同做大新能源市场，覆盖更加多元化的市场 需求。"容百科技表示。 在接受调研期间，容百科技详细介绍了公司产能情况：公司于2025年在仙桃建成6000吨中试线，以验证 新工艺与新设备；2026年预计通过改造与并购实现5万吨钠电产能，并新建5万—10万吨完全适配钠电的 新产线，"展望2030年，公司目标实现百万吨级钠电材料产能，并于2029年开始在北美、欧洲等海外市 场布局产线，实现钠电全球本土化供应"。 丰元股份在本周也受到机构重点关注。在回应关于磷酸铁锂产能的布局规划话题时，丰元股份表示，截 至目前，公司已建成的磷酸铁锂产能共计22.5万吨，7.5万吨产能处于在建阶段，产能分布在公司枣庄、 玉溪、安庆的三个基地。公司也会根据行业的发展趋势和下游客户的需求变化，在产能建设实施过程中 进行实时调整，从2025年第四季度开始，下游市场需求持续向好，带动公司有效产 ...

九号公司-WD在分析师会议上明确，其割草机器人业务将聚焦中高端市场，并正加速海外供应链布局，计划在潜在的反倾销裁决前完成海外量产。渠道方 面，其产品已覆盖亚马逊、沃尔玛等北美主流线上平台，并将于明年进驻线下连锁门店。公司还计划在2026年1月的CES展会上推出多款新品，进一步丰富 产品线。 在产业链上游，核心零部件企业同样积极布局。汇川技术已针对人形机器人开发了包括驱动器、电机、行星滚柱丝杠及多种关节模组在内的核心产品，致力 于将工业领域的技术与批量应用经验迁移至此，解决行业痛点。 奥普特则通过与机器人公司越疆科技的深度合作，展示了其3D视觉系统与机械臂的高精度协同能力，共同打造了高效的物流分拣方案。此举为其未来切入 精密装配、自主导航等前沿应用奠定了基础。 三花智控为把握行业机遇，已于今年正式成立机器人事业部，并同步推进海外生产基地建设，旨在通过优化的全球供应链，提升竞争力并为后续产能扩张做 好准备。 【环球网财经综合报道】据Choice数据统计，近一个月（10月19日至11月22日），共有17家A股上市公司接待机构调研量超过200家。其中，机器人赛道成 为最受瞩目的焦点，共有7家相关企业位列其中，显示出资 ...

Investment Rating - The report indicates a positive investment outlook for Chinese enterprises going global, with a projected increase in foreign direct investment (FDI) to 1.16 trillion RMB in 2024, reflecting an 11.30% year-on-year growth [8]. Core Insights - Chinese enterprises are actively exploring new pathways for international expansion, adapting strategies in response to geopolitical challenges and evolving market conditions [4][8]. - The ASEAN region has emerged as a key destination for Chinese investment, with its share of China's outbound investment rising from 6.34% in 2014 to 17.88% in 2024 [8]. - The structure of China's outbound investment is shifting, with significant increases in the wholesale, retail, and manufacturing sectors, indicating a deeper integration into global value chains [8][52]. Summary by Sections Part A: Challenges and Pathways for Chinese Enterprises Going Global - The Chinese government is committed to high-quality outbound investment, emphasizing the importance of maintaining a stable international economic environment despite rising geopolitical tensions [18][19]. - The share of China's exports in global trade is projected to reach 14.64% in 2024, maintaining its position as the world's largest exporter [19][23]. - Chinese enterprises are increasingly focusing on the ASEAN region for investment, with a notable rise in direct investment since the implementation of the RCEP [44][52]. Part B: Financial Support for Outbound Expansion - Chinese financial institutions are enhancing their overseas presence, with major banks establishing branches in numerous countries to support outbound enterprises [9]. - There is a strong emphasis on integrating domestic and international resources, with banks providing cross-border credit and financing solutions for projects under the Belt and Road Initiative [9][11]. - Innovative financial products and services are being developed to support overseas investments, including specialized loans for infrastructure projects and comprehensive solutions for cross-border e-commerce [9][11]. Part C: Future Outlook and Recommendations - Recommendations include optimizing overseas network construction, enhancing multi-tiered financial service systems, and expanding the use of cross-border RMB [12][13]. - A comprehensive risk management system is suggested to help enterprises navigate geopolitical uncertainties and market volatility [12][13]. - Strengthening collaboration between financial institutions and industries is crucial for supporting enterprises in their global expansion efforts [12][13].

Group 1 - A total of 34 companies were investigated by institutions on November 20, with 21 companies being researched by funds, indicating significant interest in these firms [1] - Among the companies, Lens Technology received the most attention, with 32 funds participating in its research, followed by China Shipbuilding Industry Corporation and Vanadium Titanium Resources, which had 10 and 7 funds respectively [1] - The companies researched by funds span 13 industries, with the electronics sector having the highest representation at 4 companies, followed by basic chemicals and automotive sectors with 3 and 2 companies respectively [1] Group 2 - The total market capitalization of the companies investigated includes 4 firms with a market cap exceeding 50 billion yuan, and 2 firms exceeding 100 billion yuan, such as BOE Technology Group and Lens Technology [1] - In terms of market performance, 6 of the investigated stocks increased in value over the past 5 days, with the highest gains seen in Meino Biological (4.42%), Xinrui Technology (3.21%), and Xinyin Electronics (3.16%) [1] - Conversely, 15 stocks experienced declines, with Lens Technology, Zhonggang Luonai, and Yongtai Technology showing the largest drops at 8.88%, 6.89%, and 6.58% respectively [1] Group 3 - Among the funds' research stocks, 10 showed net inflows over the past 5 days, with Fengyuan Co. leading with a net inflow of 60.25 million yuan, followed by Zhonglv Electric and Jiahe Intelligent with inflows of 22.07 million yuan and 19.09 million yuan respectively [2] - The detailed list of companies researched by funds includes Lens Technology, China Shipbuilding Industry Corporation, and Vanadium Titanium Resources, among others, with their respective latest closing prices and 5-day price changes [2][3]

人民财讯11月20日电，蓝思科技（300433）近日接受机构调研时表示，目前公司已切入北美及国内多家 头部机器人企业的供应链，关节模组、灵巧手、结构件已批量交付，人形机器人、四足机器人整机组装 规模位居行业前列。预计今年人形机器人出货3000台以上，四足机器狗10000台，初步成为最大的具身 智能硬件制造平台之一。2026年，预计实现人形机器人核心部件和整机组装规模翻番，2027年人形机器 人与四足机器狗出货量稳居全球前列。 ...

证券代码：300433 证券简称：蓝思科技 投资者关系活动记录表 3 / 9 | 拥有长期默契的合作基础，从前端研发阶段就深度介入，充分发 | | --- | | 挥公司在研发设计、精益生产及供应链垂直整合方面的优势。 | | 公司已在 AI 端侧硬件变革之际，提前卡位每一个爆发赛道， | | 积极配合客户，致力于满足未来 时代对硬件升级和整机组装业 AI | | 务的爆发式需求。 | | 问：目前有一些海外客户要求产业链进行全球布局的新闻， | | 请问公司全球化布局的情况？ | | 答：得益于前瞻性的全球化布局和持续深入的多元化发展战 | | 略，公司通过产业链上下游的垂直整合、先进的生产流程和技术 | | 以及丰富的产品类型，已构筑起稳健的全球供应链体系。公司与 | | 客户保持密切沟通，已根据客户需求扩大全球业务布局（越南、 | | 泰国、墨西哥等地），具备包括手机结构件、车载智能座舱模组、 | | 具身智能、AI 服务器等未来 AI 端侧硬件的全球交付能力，更好 | | 地服务客户及提高公司份额。 | | 问：公司各类业务全面拓展，整体看公司未来毛利率什么走 | | 势？ | | 答：整体看，公司通 ...

11月20日，广汽菲克管理人发布破产清算相关公告，其中提及公司名下位于湖南省长沙经济技术开发区 映霞路18号的土地及建(构)筑物资产包已依法拍卖成交。为办理资产过户所涉土地增值税清算事宜，管 理人将选聘一家具备资质的评估机构提供土地增值税重置成本评估服务。此前拍卖消息显示，广汽菲克 长沙工厂的土地、建（构）筑物资产包被蓝思科技（长沙）有限公司以6.02亿元的底价拍下。 ...