股票代码：300580 股票简称：贝斯特 公告编号：2025-005 无锡贝斯特精机股份有限公司 第四届监事会第十二次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 无锡贝斯特精机股份有限公司（以下简称"公司"）第四届监事会第十二 次会议于 2025 年 4 月 7 日以电子邮件方式发出会议通知，于 2025 年 4 月 18 日 以现场方式召开。会议应出席监事 3 名，实际出席监事 3 名,本次会议由监事会 主席华刚先生主持。本次会议符合《公司法》及《公司章程》的有关规定。会议 审议通过了以下议案： 一、关于公司 2024 年年度报告及其摘要的议案； 表决结果：同意票 3 票，反对票 0 票，弃权票 0 票。 经审议，监事会认为：公司《2024 年年度报告》及《2024 年年度报告摘要》 的程序符合相关法律、法规和中国证监会的规定，报告内容真实准确地反映了上 市公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 具体内容详见公司同日刊登在巨潮资讯网（http://www.cninfo.com.cn）上 的《无锡贝斯特精机股份有限公司 ...

股票代码：300580 股票简称：贝斯特 公告编号：2025-004 无锡贝斯特精机股份有限公司 第四届董事会第十五次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 无锡贝斯特精机股份有限公司（以下简称"公司"）第四届董事会第十五次 会议于 2025 年 4 月 7 日以电子邮件方式发出会议通知，于 2025 年 4 月 18 日以 现场方式召开。会议应出席董事 5 名，实际出席董事 5 名,本次董事会由董事长 曹余华先生主持。本次会议符合《公司法》及《公司章程》的有关规定。会议审 议通过了以下议案： 一、关于公司 2024 年年度报告及其摘要的议案； 表决结果：同意票 5 票，反对票 0 票，弃权票 0 票。 具体内容详见公司同日刊登在巨潮资讯网（http://www.cninfo.com.cn）上 的《无锡贝斯特精机股份有限公司 2024 年年度报告》（公告编号：2025-014）、 《无锡贝斯特精机股份有限公司 2024 年年度报告摘要》（公告编号：2025-015）。 本项议案已经公司董事会审计委员会全体成员审议通过。 二、关于公司 20 ...

股票代码：300580 股票简称：贝斯特 公告编号：2025-006 无锡贝斯特精机股份有限公司 关于 2024 年度利润分配方案的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 无锡贝斯特精机股份有限公司（以下简称"公司"）于 2025 年 4 月 18 日召 开第四届董事会第十五次会议、第四届监事会第十二次会议及第四届董事会独立 董事专门会议 2025 年第一次会议，审议通过了《关于公司 2024 年度利润分配方 案的议案》，现将相关事宜公告如下： 一、公司利润分配方案 经公证天业会计师事务所(特殊普通合伙)审计，2024 年度，本公司合并财 务报表实现归属于上市公司股东的净利润为 288,749,689.21 元，母公司报表实 现净利润为 302,924,995.58 元 ， 2024 年末合并报表未分配利润为 1,338,278,436.62元，2024年末母公司报表未分配利润为1,352,741,767.53元。 按照母公司与合并报表可分配利润数孰低的原则，2024 年末可供分配利润为 1,338,278,436.62 元。 根据《公司法》、《 ...

Financial Performance - The company's revenue for Q1 2025 was CNY 349,592,095.51, representing a 1.89% increase compared to CNY 343,114,436.07 in the same period last year[4] - Net profit attributable to shareholders was CNY 69,398,611.60, a slight increase of 0.23% from CNY 69,241,291.66 year-on-year[4] - The company experienced a 371.97% increase in investment income, reaching CNY 7,393,731.93 compared to a loss of CNY -2,718,633.40 in the previous year[11] - Net profit for the current period was ¥69,400,095.98, slightly down from ¥69,440,180.62 in the previous period, reflecting a decrease of 0.06%[22] - The company’s total comprehensive income for the current period was ¥69,519,698.74, slightly up from ¥69,440,180.62 in the previous period[22] Cash Flow - Operating cash flow net amount increased by 13.08% to CNY 54,690,919.03 from CNY 48,365,790.79 in the previous year[4] - Cash flow from operating activities generated a net amount of ¥54,690,919.03, up from ¥48,365,790.79 in the previous period, indicating a growth of 6.8%[24] - The company reported a significant cash outflow related to investment activities, which may impact future liquidity[25] - Net cash flow from investment activities was -86,315,219.63, compared to -65,563,676.08 in the previous period[25] - The net increase in cash and cash equivalents was -31,638,836.66, compared to -17,141,734.17 in the previous period[25] Assets and Liabilities - Total assets at the end of Q1 2025 were CNY 3,735,995,543.02, a 0.13% increase from CNY 3,731,065,443.12 at the end of the previous year[5] - The total liabilities decreased to CNY 560,848,974.94 from CNY 626,755,603.68, indicating a reduction of about 10.5%[18] - The total current liabilities decreased to CNY 345,194,603.27 from CNY 406,478,214.54, indicating a reduction of about 15.0%[18] - The company's cash and cash equivalents decreased to CNY 154,680,067.27 from CNY 186,286,103.48, reflecting a decline of approximately 16.4%[17] - The company's accounts receivable decreased to CNY 465,524,817.07 from CNY 487,097,309.16, a decline of approximately 4.4%[17] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 45,602, with the largest shareholder holding 49.67% of the shares[13] - The equity attributable to shareholders increased by 2.29% to CNY 3,164,891,244.24 from CNY 3,094,055,999.98 at the end of the last year[5] - The company's total equity remained stable at CNY 3,175,146,568.08, unchanged from the previous period[18] Research and Development - Research and development expenses rose significantly by 46.27% to CNY 18,119,917.78, up from CNY 12,387,652.23 in Q1 2024[11] - Research and development expenses rose significantly to ¥18,119,917.78, an increase of 46.5% compared to ¥12,387,652.23 in the previous period[21] Corporate Governance and Reporting - The first quarter report was not audited, indicating potential implications for financial reliability[26] - The company plans to implement new accounting standards starting in 2025, which may affect financial reporting[26] - The cash flow from financing activities was not detailed, indicating a need for further clarification in future reports[25] - The board meeting was held on April 21, 2025, indicating ongoing corporate governance activities[27]

Investment and Expansion - The company plans to invest in a new factory in Thailand to enhance its international market presence and competitiveness [7]. - The company is actively pursuing domestic market expansion to offset potential declines in international business due to global uncertainties [7]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years [26]. - The company is expanding its international presence by investing in a new facility in Thailand, which is currently under construction, to enhance its global competitiveness [128]. - The company plans to expand its international presence, particularly in Thailand, as part of its overseas investment strategy [168]. Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion yuan, representing a year-over-year growth of 15% [26]. - The company has set a future revenue guidance of 1.5 billion yuan for the next fiscal year, indicating an expected growth of 25% [26]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion CNY for the fiscal year, representing a growth of 20% year-over-year [189]. - The company has set a future outlook with a revenue target of 1.8 billion CNY for the next fiscal year, indicating a projected growth of 20% [189]. - The company reported a total of ¥26,030,350.52 in non-recurring gains for 2024, compared to ¥20,488,049.66 in 2023 [37]. Product Development and Innovation - The company aims to expand its product offerings in the electric and hydrogen fuel vehicle components market to align with industry trends [9]. - New product development includes the launch of a next-generation turbocharger, which is projected to enhance efficiency by 30% [26]. - The company is focusing on the production of precision components and intelligent equipment, with a strategic layout in three main business segments: precision parts, new energy vehicle components, and industrial machinery [68]. - The company is actively engaging in new product development and customer acquisition to strengthen its second-tier industry layout [125]. - The company is developing a vacuum die-casting process and automated intelligent production lines for DCDC converters, which are essential components for electric vehicles, indicating significant market potential in the emerging electric vehicle industry [145]. Market Trends and Economic Outlook - The global economy is projected to grow by 3.2% in 2024, with developed economies expected to grow by 1.8% [41]. - China's GDP for 2024 is expected to reach ¥134.9 trillion, with a growth rate of 5.0% compared to the previous year [43]. - The automotive industry in China is expected to continue its transformation, with a focus on high-quality development and increased market resilience in 2024 [53]. - The total sales of NEVs in China for 2025 are expected to reach approximately 16 million units, representing a year-on-year growth of 24.4% [174]. - The company is closely monitoring raw material prices, including aluminum and copper, to mitigate the impact of price volatility on profitability [184]. Risk Management - The company acknowledges risks from international trade environment changes, particularly due to geopolitical tensions, and is adapting its strategies accordingly [7]. - The company is implementing measures to manage foreign exchange risks associated with its international operations, particularly in USD settlements [13]. - Currency fluctuations pose a risk to the company's export operations, particularly with the potential depreciation of the RMB against the USD [186]. - The company is taking measures to improve product development and operational efficiency to counteract potential declines in product pricing [185]. - The company is adopting strategies to minimize foreign exchange losses by focusing on stable political and economic regions for international business [187]. Operational Efficiency - The company is enhancing its production capabilities through automation and process optimization to improve efficiency and reduce costs [12]. - The company is focusing on cost reduction and efficiency improvement in its first-tier industry, which includes turbocharger core components and precision parts [123]. - The company is implementing intelligent manufacturing techniques to enhance the production of high-end CNC machine tool rolling functional components, which will boost confidence in the machine tool and component industry [145]. - The company aims to enhance its supply chain efficiency, targeting a reduction in operational costs by 10% over the next year [190]. - The company is focusing on smart manufacturing, leveraging big data, automatic control, and industrial IoT technologies to enhance its operational efficiency and product quality [129]. Governance and Compliance - The company has established a complete internal control system, ensuring independence from the controlling shareholder [198]. - The company adheres to legal regulations in the appointment and operation of its board and supervisory board members [199]. - The company has a well-defined governance structure that promotes the rights of all shareholders, especially public shareholders [197]. - The company has not provided guarantees for the controlling shareholder or allowed the controlling shareholder to occupy company funds [198]. - The company has implemented measures to ensure the supervisory board can effectively supervise the financial activities and compliance of the management [200].

Investment Rating - The report maintains a "Buy" rating for the company [5][8]. Core Views - The company is a leader in the turbocharger components industry, with a three-tiered strategic layout that positions it for future growth. The revenue scale continues to grow, with a compound annual growth rate (CAGR) of 10.9% from 2019 to 2023. In Q1-Q3 2024, the company achieved revenue of 1.04 billion yuan, a year-on-year increase of 3.5%, and a net profit attributable to shareholders of 220 million yuan, up 7.1% year-on-year [3][4][5]. Summary by Sections 1. Introduction - The report provides an in-depth analysis of the company, which has been focused on precision component manufacturing since its establishment. It has expanded its business boundaries and formed a three-tiered industrial strategy covering traditional precision components, new energy vehicle components, and linear motion functional components [13]. 2. Precision Component Leader - The company has a rich product matrix, with turbocharger components being the main revenue source, accounting for over 70% of total revenue since 2019. The company has established long-term stable business relationships with major manufacturers in the turbocharger and engine sectors [28][31]. 3. Turbocharger Components - The company continues to deepen its internal capabilities, establishing a solid foundation for performance. The increasing strictness of passenger car emission standards is expected to drive the penetration rate of turbochargers. The market for turbocharger components is projected to grow steadily, with expected revenues of 1.12 billion, 1.22 billion, and 1.33 billion yuan from 2024 to 2026, representing year-on-year growth rates of 10%, 9.5%, and 9% respectively [3][4][5][49]. 4. New Energy Vehicle Components - The company is actively advancing its new energy vehicle components business through both organic growth and acquisitions. The first phase of the Anhui Best factory is expected to contribute approximately 810 million yuan in annual output value, with revenues projected to reach 210 million, 380 million, and 610 million yuan from 2024 to 2026, reflecting year-on-year growth rates of 40%, 80%, and 60% respectively [4][5]. 5. Linear Motion Functional Components - The company is making significant strides in the linear motion functional components sector, with plans to start mass production of planetary roller screws by 2025. Expected revenues for this segment are projected to be 10 million, 90 million, and 270 million yuan from 2024 to 2026, with year-on-year growth rates of 800% and 200% in 2025 and 2026 respectively [5][4]. 6. Financial Forecast and Investment Recommendations - The company is expected to achieve revenues of 1.5 billion, 1.88 billion, and 2.41 billion yuan from 2024 to 2026, with year-on-year growth rates of 12%, 25%, and 28%. Net profits attributable to shareholders are projected to be 310 million, 380 million, and 520 million yuan, with growth rates of 19%, 23%, and 35% respectively. The report suggests a price-to-earnings (PE) ratio of 42, 34, and 25 for the years 2024 to 2026 [5][7][34].

周观点：人形机器人产业端进展频出， 持续关注人形机器人产业链 ——人形机器人行业周报（2025.3.3-2025.3.7） [Table_Rating] 增持（维持） [◼Table_Summary] 主要观点 （1）优必选促发群体智能觉醒，在极氪实现全球首例多台多场景多任 务人形机器人协同实训。近日，优必选在极氪5G智慧工厂开展全球首 例多台、多场景、多任务的人形机器人协同实训，探索建立面向多任 务工业场景的通用人形机器人群体作业解决方案，推动人形机器人从 单机自主向群体智能进化。 （2）中国政府网发布视频《机器人群侠传》。中国政府网在公众号发 布了视频《机器人群侠传》，视频经过剪辑，将不同场景、种类繁多的 机器人与武林绝技相联系，全方位展示了我国在机器人领域的前沿成 果。 （3）《深圳市具身智能机器人技术创新与产业发展行动计划（2025- 2027年）》发布。3月3日，《深圳市具身智能机器人技术创新与产业发 展行动计划（2025-2027年）》（以下简称《行动计划》）正式发布。深 圳将重点引领核心技术攻坚突破、打造公共服务平台矩阵，吸引更多 上下游企业、科研机构、创新团队等聚集，营造最优创新生态，推动 具 ...

Investment Rating - The industry investment rating is "Buy" [2] Core Viewpoints - The humanoid robot industry is on the verge of mass production, with significant advancements expected in 2024, marking a pivotal year for the sector [7][13] - Automotive companies are accelerating their entry into the humanoid robot market, leveraging their existing supply chain advantages and expertise in AI and automation [7][41] - Investment opportunities are identified in companies with strong overlaps in existing automotive business and humanoid robot capabilities, particularly in the midstream supply chain [7][55] Summary by Sections Humanoid Robots Overview - Major global players in the humanoid robot sector are making significant progress, with many products entering pilot testing phases in 2024 [13] - Humanoid robots consist of five main modules, with the joint components representing a significant cost portion [16][19] - The estimated BOM cost for humanoid robots is approximately 316,200 CNY per unit, with joint components accounting for about 50% of the total cost [22][31] Automotive Sector - Automotive companies are uniquely positioned to commercialize humanoid robots due to their existing supply chains and expertise in AI from autonomous driving research [41][42] - The demand for humanoid robots in automotive manufacturing is driven by the need for automation in complex assembly processes that currently rely heavily on human labor [41][42] Parts Suppliers - Automotive parts suppliers are encouraged to explore humanoid robot business opportunities, particularly those with strong customer overlaps and technological synergies [53] - Companies such as Top Group, Silver Wheel, and Aikodi are highlighted as having potential advantages in expanding into the humanoid robot market [55]

无锡贝斯特精机股份有限公司 关于完成工商变更登记并换发营业执照的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 无锡贝斯特精机股份有限公司（以下简称"公司"）于 2024 年 8 月 7 日召 开第四届董事会第十一次会议、2024 年 12 月 31 日召开第四届董事会第十四次 会议分别审议通过了《关于变更注册资本及修订<公司章程>的议案》及《关于因 完成股权激励计划部分股票归属登记而变更注册资本及修订<公司章程>的议案》； 并于 2025 年 1 月 17 日召开了 2025 年第一次临时股东大会，审议通过了上述两 项议案。具体内容详见公司刊登在巨潮资讯网（ http://www.cninfo.com.cn） 上的《第四届董事会第十一次会议决议公告》（公告编号：2024-026）、《关于 变更注册资本及修订<公司章程>的公告》（公告编号：2024-023）、《第四届董 事会第十四次会议决议公告》（公告编号：2024-040）、《关于因完成股权激励 计划部分股票归属登记而变更注册资本及修订<公司章程>的公告》（公告编号： 2024-041）、《2025 ...

Investment Rating - The report assigns an "Accumulate" rating for the company, with a target price of 34.8 CNY over the next six months [6][9]. Core Insights - The company has established a clear three-tier business layout based on precision machining, focusing on turbocharger components, new energy vehicle parts, and linear motion components, demonstrating robust operational quality [1][19]. - The company has strong cash flow from sales and operations, indicating high revenue quality and stable business performance [1][30]. - The turbocharger component business is expected to continue as a cornerstone for the company, with projected revenues of 1.114 billion, 1.239 billion, and 1.371 billion CNY from 2024 to 2026 [2][40]. - The new energy vehicle parts business is anticipated to grow significantly, with expected revenues of 250 million, 340 million, and 450 million CNY from 2024 to 2026 [3]. - The screw rod business is also expected to see growth, with projected revenues of 5 million, 80 million, and 180 million CNY from 2024 to 2026 [4]. Summary by Sections 1. Business Overview - The company was founded in 1997 and has leveraged precision machining technology to enter the turbocharger component manufacturing sector, later expanding into new energy vehicle parts and linear motion components [1][19]. - The company has a stable shareholding structure, with the actual controller holding 55.7% of shares, and has implemented effective employee stock ownership and incentive mechanisms [25][27]. 2. Turbocharger Component Business - The turbocharger industry is mature and concentrated, benefiting leading companies. The company has established deep ties with Tier 1 suppliers like Garrett and Cummins, ensuring a stable revenue stream [2][40]. - The company’s turbocharger component revenues are projected to grow at rates of 9.83%, 11.23%, and 10.68% from 2024 to 2026 [40]. 3. New Energy Vehicle Parts Business - The company has focused on lightweight structural components and precision parts for new energy vehicles since 2018, benefiting from the trend towards vehicle lightweighting [3][41]. - The expected revenue growth for this segment is significant, with projections of 250 million, 340 million, and 450 million CNY from 2024 to 2026 [3]. 4. Screw Rod Business - The screw rod market is expanding, with the company establishing a subsidiary to produce high-precision screw rods and linear guides, targeting various industries including robotics and machine tools [4][60]. - Revenue projections for the screw rod business are 5 million, 80 million, and 180 million CNY from 2024 to 2026 [4].