Summary of Meili Technology Conference Call Company Overview - Meili Technology is positioned as a leading player in the automotive spring industry and is expanding into the humanoid robot sector, leveraging its existing product capabilities and market advantages [2][4]. Key Financial Projections - Revenue is expected to grow steadily, with projections of approximately 2.1 billion RMB in 2025, 2.6 billion RMB in 2026, and 3.2 billion RMB in 2027, reflecting an average annual growth rate of around 25% [2][3]. - Net profit is anticipated to increase at a faster rate than revenue, with estimates of nearly 200 million RMB, 250 million RMB, and 300 million RMB for the next three years [2][3]. Humanoid Robot Sector Insights - Meili Technology has a significant advantage in the humanoid robot market due to its expertise in automotive springs, which can be adapted for use in humanoid robots [4][5]. - The average selling price (ASP) for humanoid robot components is around 100 RMB, with potential revenue reaching billion-level if production scales to one million units [2][5]. - The company has engaged with multiple humanoid robot assembly companies and has entered the sample supply phase, indicating strong development potential in this area [4][5]. Automotive Spring Business Opportunities - The automotive spring business is expected to benefit from mergers and acquisitions, enhancing profitability and market share [6][7]. - The value of individual automotive springs ranges from 300 to 600 RMB, with potential for growth due to increasing complexity in vehicle chassis designs [6]. - The domestic market for automotive springs is approximately 15 billion RMB, with Meili Technology's market share currently around 10%, indicating substantial room for growth [6][7]. - Recent acquisitions, including Jiangsu Boyun and Jiangsu Dayuan, have improved production capacity utilization from 40% at the end of 2024 to higher levels [6][7]. Competitive Landscape - The acquisition of German company Alen has improved the competitive landscape for Meili Technology, providing advantages over domestic competitors [6][7]. - The company’s strong cost control capabilities and first-mover advantages in both business segments position it well for future growth [7]. Risks and Considerations - Potential risks include lower-than-expected production and sales of passenger vehicles and rising raw material costs, which could negatively impact company performance [4][8]. Overall Assessment - Meili Technology is expected to continue its growth trajectory in both the humanoid robot and automotive spring sectors, making it a recommended investment opportunity [7].

证券代码：300611 证券简称：美力科技 公告编号：2025-032 浙江美力科技股份有限公司 2024年年度权益分派实施公告 浙江美力科技股份有限公司（以下简称"公司"）2024年年度权益分派方案 已获2025年4月22日召开的2024年度股东大会审议通过，现将权益分派事项公告 如下： 一、股东大会审议通过利润分配方案的情况 1、公司2024年度股东大会审议通过的利润分派方案为：以2024年12月31日 的公司总股本211,074,680股扣除公司回购专用证券账户持有的股份2,974,500 股后的股本208,100,180股为基数，向全体股东每10股派发现金股利人民币1.20 元（含税），合计派发现金股利人民币24,972,021.60元（含税），本次分配不 送红股，不以资本公积金转增股本，剩余未分配利润结转以后年度分配。若在实 施权益分派股权登记日前公司总股本发生变动，则以实施分配方案股权登记日时 享有利润分配权的股份总额为基数，按照现金分红总额固定不变的原则对分配比 例进行相应调整。 2、自本次权益分派方案披露至实施期间，公司回购专用证券账户股份数量 为0股，故公司可参与分配的股本总额发生了变化，公 ...

| 300611 | 美力科技 | 29.32 | 22.48 | 3.68 | | --- | --- | --- | --- | --- | | 300040 | 九洲集团 | 7.51 | 22.42 | 5.92 | | 002860 | 星帅尔 | 13.04 | 22.39 | 10.04 | | 301479 | 弘景光电 | 141.43 | 22.37 | 1.51 | | 300994 | 久祺股份 | 17.10 | 22.24 | 9.27 | | 002261 | 拓维信息 | 35.18 | 22.12 | 5.65 | | 603120 | 肯特催化 | 36.53 | 21.98 | 3.16 | | 002278 | 神开股份 | 8.33 | 21.80 | 5.04 | | 831856 | 浩淼科技 | 28.89 | 21.78 | 11.80 | | 832876 | 慧为智能 | 36.40 | 21.68 | 30.00 | | 001256 | 炜冈科技 | 23.74 | 21.63 | 3.40 | | 301277 | 新天地 | 12.18 | 21. ...

Group 1: Industry Overview - As of April 25, over 180 automotive parts companies in A-shares disclosed their 2024 annual reports, with 60% of companies reporting year-on-year growth in net profit attributable to shareholders, and 13 companies achieving over 100% growth [1] - In 2024, China's automotive production and sales reached 31.28 million and 31.44 million units respectively, marking year-on-year increases of 3.7% and 4.5%, benefiting many automotive parts manufacturers [1] - The automotive parts industry is experiencing both high growth and high pressure, with some companies facing performance declines due to intensified industry competition [2] Group 2: Company Performance - Shuanglin Co., specializing in interior and exterior parts, achieved a revenue of 4.91 billion yuan, a year-on-year increase of 18.64%, and a net profit of 497 million yuan, up 514.49% [1] - Taited Co., a precision bearing manufacturer, reported total revenue of 340 million yuan, a 23.13% increase, and a net profit of 24.95 million yuan, up 216.53% [1] - Xiling Power's automotive parts business saw revenue of 1.75 billion yuan, a 15.38% increase, and a net profit of 50.61 million yuan, turning around from losses [2] - Xinzhi Group reported total revenue of 5.918 billion yuan, a 28.22% increase, but a net profit decline of 91.32% due to competitive pressures [2] - Summer Precision achieved revenue of 666 million yuan, a 26.09% increase, but faced significant margin pressure in its automotive gear segment [3] Group 3: Strategic Shifts - Many automotive parts companies are pivoting towards the humanoid robotics industry as a core strategic direction, leveraging existing technologies and customer relationships to create a "second growth curve" [3][4] - Summer Precision is focusing on the humanoid robotics sector, positioning it as a core growth area, and is accelerating the development of industrial robot gear through IPO funding [3] - Top Group is establishing an electric drive division to capitalize on opportunities in the robotics sector, integrating various resources for rapid development [4] - Companies like Xiling Power and WanTong Intelligent Control are also entering the humanoid robotics field, utilizing their technological advantages in precision processing and sensor technology [5][6] Group 4: R&D and Innovation - Shuanglin Co. has made significant advancements in precision transmission technology, establishing a trial production line for planetary roller screw products, which are critical for humanoid robots [5] - Xinzhi Group's subsidiary is focusing on core components for humanoid robots, having initiated collaborations with leading companies in the field [6] - Summer Precision is increasing investments in precision small gears and reducers to support the rapid development of humanoid robots [6]

Revenue and Profitability - The company's revenue for Q1 2025 was CNY 416,228,029.60, representing a 37.76% increase compared to CNY 302,129,323.80 in the same period last year[4] - Net profit attributable to shareholders increased by 110.90% to CNY 33,987,475.18 from CNY 16,115,105.65 year-on-year[4] - The company reported a basic earnings per share of CNY 0.16, doubling from CNY 0.08 in the same period last year[4] - Net profit for the current period was CNY 35,732,685.80, compared to CNY 15,102,456.67 in the previous period, indicating an increase of approximately 136.2%[24] - Basic and diluted earnings per share are both CNY 0.16, compared to CNY 0.08 in the previous period, indicating a 100% increase[25] Cash Flow and Liquidity - The net cash flow from operating activities decreased by 39.48% to CNY 25,707,060.82, down from CNY 42,474,878.40 in the previous year[11] - Cash and cash equivalents at the end of the period amount to CNY 294,686,609.23, an increase from CNY 225,266,013.24 in the previous period, reflecting a growth of about 31%[28] - Cash inflow from financing activities totals CNY 226,927,440.00, significantly higher than CNY 102,000,000.00 in the previous period, marking an increase of approximately 122%[28] - The company received CNY 18,889,867.22 in cash related to other operating activities, up from CNY 6,831,419.58 in the previous period, showing an increase of approximately 176%[28] - The company paid CNY 91,207,040.35 in cash to employees, which is an increase from CNY 69,572,700.99 in the previous period, reflecting a rise of about 31%[28] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,313,094,437.59, a 6.56% increase from CNY 2,170,674,166.45 at the end of the previous year[4] - Current liabilities totaled CNY 840,234,547.36, an increase from CNY 739,687,992.12, which is an increase of approximately 13.6%[22] - The total liabilities of the company reached CNY 1,098,437,484.58, compared to CNY 998,459,979.94, indicating an increase of about 10%[22] Investment and Financing Activities - The company’s investment activities resulted in a net cash outflow of CNY 54,487,956.97, a 796.82% increase compared to CNY -6,075,713.40 in the previous year[11] - The company plans to issue convertible bonds to raise up to 300 million RMB, with the net proceeds to be used for the aforementioned production project and to supplement working capital[19] - The company has won the land use rights for a state-owned construction site for 45.51 million RMB, which will be used for the production of 2 million smart suspensions and 10 million electric and hydraulic drive elastic components[18] Operational Performance - Total operating revenue for the current period reached CNY 416,228,029.60, a significant increase from CNY 302,129,323.80 in the previous period, representing a growth of approximately 37.8%[23] - Total operating costs increased to CNY 376,191,964.67 from CNY 293,247,577.45, reflecting a rise of about 28.3%[24] - The company reported a significant increase in other income, which totaled CNY 3,814,423.77 compared to CNY 5,572,354.88 in the previous period, a decrease of approximately 31.6%[24] Research and Development - Research and development expenses rose to CNY 14,980,472.96 from CNY 13,457,362.53, reflecting an increase of about 11.3%[24] Other Financial Metrics - The company’s weighted average return on equity improved to 3.08%, up from 1.61% in the previous year[4] - The company has transferred 2,974,500 shares to its third employee stock ownership plan account at a price of 9.12 RMB per share, representing 1.41% of the total share capital[17] - The company experienced a foreign exchange gain of CNY 2,306,953.16, compared to a loss of CNY 95,044.98 in the previous period, indicating a positive shift in currency impact[28] Audit Status - The company has not undergone an audit for the first quarter report, which is noted in the financial statements[29]

Core Insights - Meili Technology (300611) reported a revenue of 416 million yuan for Q1 2025, representing a year-on-year growth of 37.76% [1] - The net profit for the same period was 33.99 million yuan, showing a significant year-on-year increase of 110.90% [1] Financial Performance - Revenue for Q1 2025: 416 million yuan, up 37.76% year-on-year [1] - Net profit for Q1 2025: 33.99 million yuan, up 110.90% year-on-year [1]

2025 年 4 月，公司通过竞拍的方式竞得宗地编号为 2024 年工 28 号的国有 建设用地使用权，并与新昌县自然资源和规划局签署了《国有建设用地使用权出 让 合 同 》 。 具 体 内 容 详 见 公 司 于 2025 年 4 月 3 日 在 巨 潮 资 讯 网 （http://www.cninfo.com.cn）上披露的《关于投资建设项目的进展公告》（公 告编号：2025-025）。 证券代码：300611 证券简称：美力科技 公告编号：2025-030 浙江美力科技股份有限公司 关于投资建设项目的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 一、投资项目概述 浙江美力科技股份有限公司（以下简称"公司"）于 2025 年 2 月 14 日召开 了第五届董事会第十四次会议，于 2025 年 3 月 4 日召开了 2025 年第一次临时股 东大会，审议通过了《关于拟投资建设项目的议案》，同意公司投资建设"年产 200 万件智能悬架及 1000 万件电动及液压驱动弹性元件等产业化项目"。具体 内容详见公司分别于 2025 年 2 月 15 日和 ...

Group 1 - The humanoid robot concept stocks experienced a surge in early trading, with Qin Chuan Machine Tool (000837) hitting the daily limit up [1] - Hangzhou Gear (601177) rose over 8%, indicating strong market interest in the sector [1] - Other companies such as Siling Co., Ltd. (301550), Dongtu Technology (300353), and Meili Technology (300611) also saw significant gains [1]

北京德恒（杭州）律师事务所 关于浙江美力科技股份有限公司 2024 年年度股东大会的 法律意见书 杭州市上城区新业路 200 号华峰国际商务大厦 10-11 楼 电话:0571-86508080 传真:0571-87357755 邮编:310020 北京德恒（杭州）律师事务所 关于浙江美力科技股份有限公司 2024 年年度股东大会的法律意见书 北京德恒（杭州）律师事务所 关于浙江美力科技股份有限公司 2024年年度股东大会的 法律意见书 （一）本次股东大会的召集程序 2025 年 3 月 27 日，公司第五届董事会第十五次会议审议通过了《关于召 开公司 2024 年度股东大会的议案》，本次股东大会的召集人是公司董事会。 2025 年 3 月 29 日，公司董事会在巨潮资讯网（http://www.cninfo.com.cn） 德恒【杭】书（2025）第04022号 致：浙江美力科技股份有限公司 根据《中华人民共和国证券法》（以下简称"《证券法》"）、《中华人 民共和国公司法》（以下简称"《公司法》"）和中国证券监督管理委员会 《上市公司股东会规则》（以下简称"《股东会规则》"）等法律、法规和其 他有关规范性文 ...