Core Viewpoint - Feirongda (300602) has successfully applied some of its heat dissipation and electromagnetic shielding products in chip-related supporting products, effectively addressing heat dissipation and shielding issues for chips and application terminals, thereby supporting efficient operation in safe environments [1] Group 1 - The company has developed heat dissipation products that are now utilized in chip-related applications [1] - The electromagnetic shielding products from the company also play a crucial role in enhancing the performance of chips and terminals [1] - These innovations contribute to maintaining operational efficiency under safe conditions for end products [1]

Core Viewpoint - The company has not yet applied its products to commercial aerospace satellites or space stations, but is actively monitoring the demand trends for electromagnetic shielding and thermal management products in the commercial aerospace sector [1] Group 1 - The company is currently not involved in the commercial aerospace sector with its products [1] - The company is considering all measures that could benefit its development [1] - The company is focused on the evolving demand in the commercial aerospace field [1]

Group 1 - The company has been deeply involved in the fields of thermal management and electromagnetic shielding for many years, offering a comprehensive product matrix that includes thermal conductive materials, heat dissipation devices, air-cooled/liquid-cooled solutions, and electromagnetic shielding materials and devices [2] - The company possesses a relatively complete industrial system, strong R&D capabilities, and rich application experience, enabling it to provide electromagnetic shielding solutions and related products as well as heat dissipation solutions and products to relevant customers [2] - Investors are encouraged to pay attention to the company's subsequent periodic reports for updates on production operations, technological achievements, and business developments [2]

Core Viewpoint - Feirongda (300602.SZ) has a certain level of technological reserve in microchannel liquid cooling plate technology, positioning itself as a leading enterprise in domestic thermal management solutions [1] Group 1: Company Overview - The company offers a wide range of thermal management products and continuously develops new technologies and products to meet market demands [1] - Feirongda aims to satisfy various customer needs across different product types, usage environments, and levels of application [1] Group 2: Industry Positioning - The company will continue to monitor developments in relevant technological fields to enhance its overall competitive advantage [1]

Group 1 - The humanoid robot concept stocks in the A-share market have shown strong performance, with notable gains from companies such as Greentec Harmony, Tianqi Co., and Baida Precision, all reaching the daily limit increase [1] - The Beijing Humanoid Robot Innovation Center's pilot verification platform has officially launched, marking the first pilot platform for humanoid robots in Beijing, equipped with 500 sets of production and testing equipment and an annual production capacity of 5,000 humanoid robots [1] Group 2 - Greentec Harmony (688017) saw a price increase of 10.67%, with a total market value of 43.1 billion and a year-to-date increase of 22.40% [2] - Tianqi Co. (002009) experienced a 10.00% rise, with a market capitalization of 11.4 billion and a year-to-date increase of 25.46% [2] - Baida Precision (603331) increased by 9.99%, with a market value of 3.16 billion and a year-to-date increase of 9.68% [2] - Huayi Technology (688071) rose by 8.56%, with a market capitalization of 3.375 billion and a year-to-date increase of 20.02% [2] - Guanglian Aviation (300900) increased by 7.29%, with a total market value of 11.8 billion and a year-to-date increase of 1.33% [2] - Weichuang Electric (688698) saw a 6.33% increase, with a market value of 20.5 billion, but a year-to-date decrease of 3.01% [2] - Beite Technology (603009) rose by 6.07%, with a market capitalization of 19.3 billion and a year-to-date increase of 15.45% [2] - Feirongda (300602) increased by 5.87%, with a market value of 20.6 billion and a year-to-date increase of 6.54% [2] - Zhejiang Rongtai (603119) rose by 5.08%, with a market capitalization of 38.9 billion but a year-to-date decrease of 7.43% [2] - Xinzhi Group (002664) increased by 5.11%, with a market value of 10.5 billion and a year-to-date increase of 7.39% [2]

Investment Rating - The report maintains an "Outperform" rating for the industry, indicating expected performance above the market benchmark by more than 10% [5][11]. Core Insights - The report highlights significant advancements in commercial aerospace, humanoid robots, and AI infrastructure, with a focus on the potential for cost reductions and market growth in these sectors [2][3][4]. - SpaceX aims to achieve full reusability of its Starship rockets this year, which could reduce the cost of space access by 99%, dropping to below $100 per pound [2][18]. - Tesla plans to launch its humanoid robot, Optimus, to the public by the end of 2027, with expectations for enhanced capabilities in industrial tasks and household chores [3][18]. Summary by Sections Commercial Aerospace - The report emphasizes the long-term investment opportunities in commercial aerospace, particularly in the rocket segment, with a focus on SpaceX and leading domestic companies like Blue Arrow Aerospace and CASIC [2]. - Key areas of interest include critical structural components and new applications of 3D printing, with specific companies highlighted such as Huashu High-Tech and Jiangshun Technology [2]. Humanoid Robots - The humanoid robot sector is viewed positively, with expectations for significant demand growth as capabilities improve. Companies in the supply chain, particularly those with strong positions, are recommended for investment [3][9]. - Specific companies to watch include Hengli Hydraulic and Weichuan Technology, focusing on core suppliers and components like joints and sensors [3][9]. AI Infrastructure - The report expresses optimism for AI infrastructure, particularly in gas turbines and liquid cooling systems, identifying key players in the energy supply chain [4]. - Companies such as Yingliu Technology and Hanjong Precision are noted for their roles in the gas turbine sector, while others like Ice Wheel Environment are highlighted for their contributions to liquid cooling [4][9].

1月28日，飞荣达大宗交易成交54.82万股，成交额1771.25万元，占当日总成交额的0.86%，成交价32.31 元，较市场收盘价36.31元折价11.02%。 | 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交金额 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | | 2026-01-28 | 300602 | 飞宋达 | 32.31 | 10.50 | 339.26 | 国泰海通证券股份 | 申万宏源证券有限 | | | | | | | | 有限公司深圳红荔 | 公司深圳新湖路证 | | | | | | | | 西路证券营业部 | 劳营业部 | | 2026-01-28 | 300602 | 飞荣达 | 32.31 | 9.10 | 294.02 | 中信建投证券股份 | 申万宏源证券有限 | | | | | | | | 有限公司北京里京 | 公司深圳新湖路证 | | | | | | | | 证券营业部 | 券营业部 | ...

Core Viewpoint - Feirongda's profitability is significantly improving, with accelerated adoption of liquid cooling and embodied intelligence technologies, projecting a net profit of 360-420 million yuan for 2025, representing a year-on-year growth of 57.23%-83.43% [1] Market Position and Growth - The company is increasing its market share in core application areas such as consumer electronics and communications [1] - Achievements in advanced fields like server liquid cooling and embodied robotics have been noted, indicating a positive trajectory in innovation [1] Project Developments - Orders for targeted projects in the new energy vehicle sector are gradually being released, enhancing the company's overall competitiveness and profitability [1] - The liquid cooling business is expected to ramp up significantly, supported by leading technological reserves [1] Product Certification and Supply - The company has successfully passed certifications for its embodied intelligence products with several key clients, with some projects entering the sampling, testing, and small-batch supply stages [1] Investment Rating - A "Buy" investment rating has been assigned to the company, reflecting confidence in its growth prospects and market strategies [1]

证券日报网讯 1月26日，飞荣达在互动平台回答投资者提问时表示，截至2026年1月20日，公司股东总 户数为46219户。 （文章来源：证券日报） 证券日报网讯 1月26日，飞荣达在互动平台回答投资者提问时表示，截至2026年1月20日，公司股东总 户数为46219户。 （文章来源：证券日报） ...

（文章来源：证券日报） 证券日报网讯 1月26日，飞荣达在互动平台回答投资者提问时表示，截至2026年1月9日，公司股东总户 数为43484户。 ...