证券代码：300680 证券简称：隆盛科技 公告编号：2025-031 无锡隆盛科技股份有限公司 关于回购公司股份的进展公告 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。 无锡隆盛科技股份有限公司（以下简称"公司"）于2024年11月27日召开第五届 董事会第四次会议，并于2024年12月16日召开2024年第二次临时股东大会，审议通过 了《关于回购公司股份方案的议案》，同意公司使用自有资金和股票回购专项贷款以 集中竞价方式回购公司已发行的人民币普通股（A股）股票，回购股份将全部予以注 销并减少公司注册资本。本次回购的资金总额不低于人民币10,000万元且不超过人民 币20,000万元（含本数），回购股份价格不超过人民币40元/股，具体回购股份的数 量和金额以回购期限届满时实际回购的股份数量为准。本次回购股份的实施期限为自 股东大会审议通过回购股份方案之日起不超过12个月。具体内容详见公司在巨潮资讯 网（www.cninfo.com.cn）披露的《关于回购公司股份方案暨取得金融机构股票回购 专项贷款承诺书的公告》（公告编号：2024-061）、《回购报告书》 ...

Core Viewpoint - The company has approved a share repurchase plan, intending to buy back shares using its own funds and a special loan, with a total amount between RMB 100 million and RMB 200 million, and a maximum repurchase price of RMB 40 per share [1][3]. Group 1: Share Repurchase Plan - The company will repurchase shares through centralized bidding, and all repurchased shares will be canceled, reducing the registered capital [1]. - The implementation period for the share repurchase is set to not exceed 12 months from the approval date by the shareholders' meeting [1]. - Following the annual equity distribution, the maximum repurchase price has been adjusted to RMB 39.80 per share starting from June 18, 2025 [3]. Group 2: Progress of Share Repurchase - As of June 23, 2025, the company has repurchased a total of 2,356,000 shares, accounting for 1.02% of the total share capital, with a total payment of approximately RMB 76.78 million [3][4]. - The highest transaction price during the repurchase was RMB 39.36 per share, while the lowest was RMB 27.15 per share [3]. Group 3: Compliance and Future Actions - The company's share repurchase activities comply with relevant regulations and guidelines from the Shenzhen Stock Exchange [4]. - The company will continue to implement the repurchase plan based on market conditions and will fulfill information disclosure obligations as required by law [4].

证券代码：300680 证券简称：隆盛科技 公告编号：2025-030 无锡隆盛科技股份有限公司 关于回购公司股份比例达到1%的进展公告 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。 无锡隆盛科技股份有限公司（以下简称"公司"）于2024年11月27日召开第五届 董事会第四次会议，并于2024年12月16日召开2024年第二次临时股东大会，审议通过 了《关于回购公司股份方案的议案》，同意公司使用自有资金和股票回购专项贷款以 集中竞价方式回购公司已发行的人民币普通股（A股）股票，回购股份将全部予以注 销并减少公司注册资本。本次回购的资金总额不低于人民币10,000万元且不超过人民 币20,000万元（含本数），回购股份价格不超过人民币40元/股，具体回购股份的数 量和金额以回购期限届满时实际回购的股份数量为准。本次回购股份的实施期限为自 股东大会审议通过回购股份方案之日起不超过12个月。具体内容详见公司在巨潮资讯 网（www.cninfo.com.cn）披露的《关于回购公司股份方案暨取得金融机构股票回购 专项贷款承诺书的公告》（公告编号：2024-061）、《 ...

Summary of Conference Call Records Industry and Companies Involved - **Industry**: Robotics and Automotive Components - **Companies**: 隆盛科技 (Longsheng Technology), 豪能股份 (Haoneng Co.), 美湖股份 (Meihu Co.), 湘油泵 (Xiang Oil Pump), 英伟达 (NVIDIA), 富士康 (Foxconn), 女娲机器人 (Nüwa Robotics) Key Points and Arguments 1. **Robotics Development Approaches**: - Tesla focuses on universal solutions based on first principles, requiring significant investment and long iteration cycles. In contrast, domestic companies prioritize vertical applications in specific scenarios, leading to faster implementation [1][3][5] 2. **Longsheng Technology's Strategic Moves**: - Longsheng Technology enhanced its financial strength and customer resource synergy through the acquisition of 威汉智能 (Weihan Intelligent). The company is actively engaging with clients to advance production in various scales [1][6][7] 3. **Haoneng Co.'s Market Position**: - Haoneng Co. leads in synchronizer business and benefits from the rapid growth of the new energy vehicle market. Its planetary gear business has advantages in cost and impact resistance, with strong order and customer development [1][9] 4. **Meihu Co.'s Forward-Looking Initiatives**: - Meihu Co. is actively investing in elder care robots and exoskeletons, showcasing strong growth potential. The company has partnered with NVIDIA to enhance its competitiveness in the robotics sector [1][4][13][17] 5. **Xiang Oil Pump's Diversification**: - Xiang Oil Pump maintains a solid market position in traditional oil pumps while expanding into humanoid robotics, focusing on harmonic drive systems for joint assemblies [1][11] 6. **NVIDIA's Role in Robotics**: - NVIDIA accelerates AI training and iteration through a virtual simulation platform, collaborating with Foxconn to enhance production efficiency and technological innovation [1][12][20] 7. **Market Volatility in Automotive Components**: - The automotive components sector has experienced significant fluctuations due to North American rumors, but fundamentally strong companies like Longsheng Technology, Haoneng Co., and Meihu Co. remain valuable long-term investments [2][14][21] 8. **Longsheng Technology's Product Development**: - Longsheng Technology is refining its third-generation dexterous hand, which is crucial for task execution. The company is also expanding its motor core business, with expectations of increased value as it transitions to semi-finished products [1][8][15] 9. **Haoneng Co.'s Growth Strategy**: - Haoneng Co. has a three-tier growth strategy, with its traditional synchronizer business as the foundation, rapid growth in the differential gear sector, and a focus on planetary gear products for humanoid robots [1][9][10] 10. **Meihu Co.'s Market Engagement**: - Meihu Co. is expanding its market presence by engaging with leading clients in regions like Southwest China and South China, enhancing its competitive edge [1][13][16] Other Important but Overlooked Content - The vertical application model of domestic companies allows for quicker implementation and adaptation within the supply chain [5] - The importance of intelligent control in robotics, which may overshadow differences in mechanical transmission capabilities [18] - The potential for significant opportunities within the domestic supply chain, particularly in tools and various application scenarios [21]

证券代码：300680 证券简称：隆盛科技 公告编号：2025-029 无锡隆盛科技股份有限公司 关于2024年年度权益分派实施后调整回购股份价格上限的公告 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： 一、回购方案概述 无锡隆盛科技股份有限公司（以下简称"公司"）于2024年11月27日召开第五届 董事会第四次会议，并于2024年12月16日召开2024年第二次临时股东大会，审议通过 了《关于回购公司股份方案的议案》，同意公司使用自有资金和股票回购专项贷款以 集中竞价方式回购公司已发行的人民币普通股（A股）股票，回购股份将全部予以注 销并减少公司注册资本。本次回购的资金总额不低于人民币10,000万元且不超过人民 币20,000万元（含本数），回购股份价格不超过人民币40元/股，具体回购股份的数 量和金额以回购期限届满时实际回购的股份数量为准。本次回购股份的实施期限为自 股东大会审议通过回购股份方案之日起不超过12个月。具体内容详见公司在巨潮资讯 网（www.cninfo.com.cn）披露的《关于回购公司股份方案暨取得金融机构股票回购 专项贷 ...

证券代码：300680 证券简称：隆盛科技 公告编号：2025-028 无锡隆盛科技股份有限公司 2024年年度权益分派实施公告 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、无锡隆盛科技股份有限公司（以下简称"公司"）回购专用证券账户中的股 份 4,062,000 股不参与本次权益分派。因此，公司 2024 年年度权益分派方案为：以 公司实施权益分派股权登记日登记的股份总数扣减公司回购专用证券账户中的股份 为基数，向全体股东每 10 股派发现金股利人民币 2 元（含税），实际派发现金股利 45,392,455.60 元（含税），本年度不以公积金转增股本，不送红股，剩余未分配利 润结转下一年度。 2、本次权益分派实施后计算除权除息价格时，按总股本（含回购股份）折算的 每 10 股现金红利（含税）=现金分红总额÷总股本×10=45,392,455.60 元÷ 231,024,278 股×10 股=1.964834 元（保留六位小数，不四舍五入）。本次权益分派 实施后除权除息参考价=股权登记日收盘价-按总股本折算每股现金红利=股权登记 日收盘价- ...

一、股份回购进展情况 证券代码：300680 证券简称：隆盛科技 公告编号：2025-027 无锡隆盛科技股份有限公司 关于回购公司股份的进展公告 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。 无锡隆盛科技股份有限公司（以下简称"公司"）于2024年11月27日召开第五届 董事会第四次会议，并于2024年12月16日召开2024年第二次临时股东大会，审议通过 了《关于回购公司股份方案的议案》，同意公司使用自有资金和股票回购专项贷款以 集中竞价方式回购公司已发行的人民币普通股（A股）股票，回购股份将全部予以注 销并减少公司注册资本。本次回购的资金总额不低于人民币10,000万元且不超过人民 币20,000万元（含本数），回购股份价格不超过人民币40元/股，具体回购股份的数 量和金额以回购期限届满时实际回购的股份数量为准。本次回购股份的实施期限为自 股东大会审议通过回购股份方案之日起不超过12个月。具体内容详见公司在巨潮资讯 网（www.cninfo.com.cn）披露的《回购报告书》（公告编号：2024-070）等相关公 告。 根据《上市公司股份回购规定》《深 ...

Summary of Key Points from Conference Call Records Company and Industry Overview - **Companies Involved**: 金固股份 (Jingu Co., Ltd.), 隆盛科技 (Longsheng Technology), 小鹏汽车 (Xiaopeng Motors), 长城汽车 (Great Wall Motors) - **Industries**: Automotive, Industrial Automation, Robotics Key Insights and Arguments Jingu Co., Ltd. (金固股份) - Jingu plans to increase its shipment volume from 18 million to between 48 million and 55 million units over the next three to four years, aiming for over 100% growth despite high capital expenditure risks due to its asset-heavy model [1][3] - The company’s production process is vertically integrated, allowing it to reduce challenges in global expansion, particularly through its proprietary heat treatment technology [2] - High tariffs on steel and aluminum in the European and American markets are critical factors affecting Jingu's operations and profitability [1] Longsheng Technology (隆盛科技) - Longsheng is experiencing steady growth in its core business within the industrial automation and robotics sector, with strong partnerships with companies like Tesla and Seres [1][4] - The company’s main business segments include traditional commercial vehicles, new energy motor cores, and precision components, with new energy motor cores becoming its largest revenue source [5][6] - Longsheng has advanced capabilities in component R&D and iteration, positioning itself as a key supplier for Tesla and showing potential for Tier 1 partnerships in robotics [8] Xiaopeng Motors (小鹏汽车) - Xiaopeng reported a gross margin increase to 15.6% in Q1 2025, driven by economies of scale and cost reduction measures, despite a 4.7% decline in average revenue per vehicle [9] - The upcoming launch of the Mona M03 Max version is expected to boost monthly sales to 20,000 units, while the introduction of the Turing chip will enhance vehicle profitability [10] - Xiaopeng plans to release several new models throughout 2025, including the Extreme 7 and P7, which are anticipated to generate significant market interest [10] Great Wall Motors (长城汽车) - Great Wall has initiated a challenge to deliver 10,000 units of the Tank 300 monthly, reflecting confidence in the Tank series' sales growth [11] - The second quarter of 2025 is projected to be a turning point for the company, with expected net profit increases from the Russian scrappage tax and rising sales of Tank and Haval models [12] - New vehicle launches and updates, including the Ora series and modifications to the Great Wall Cannon series, are expected to enhance sales and improve the company's fundamentals [13] Additional Important Insights - Longsheng's strategic partnerships and product offerings in robotics, such as dexterous hands and harmonic reducers, indicate a strong market position and growth potential [7] - The anticipated rollout of advanced driving platforms (ADC2.0 and ADC4.0) by Great Wall Motors is expected to significantly enhance the company's product competitiveness and market image [14][15] - Great Wall's current stock valuation at 7x PE presents a compelling investment opportunity, especially in light of expected profit growth and new technology applications [16]

Core Viewpoint - The article discusses the rapid growth of plug-in hybrid electric vehicles (PHEVs) in the automotive market, highlighting the significant increase in their sales proportion within the new energy vehicle segment, which is expected to reach 40% in 2024, up 17 percentage points from 2022 [3][10]. Group 1: Company Overview - Longsheng Technology (300680.SZ) is a company involved in the PHEV sector, experiencing rapid growth over the past seven years, with its stock price reaching new highs in the secondary market [8][9]. - The company was founded in 2004 and is recognized as a national "specialized, refined, distinctive, and innovative" small giant enterprise, with its controlling shareholders being the Ni family, who hold 29.38% of the shares [12][13]. - Longsheng Technology's business has evolved from a focus on commercial diesel engine exhaust gas recirculation (EGR) systems to a diversified manufacturing service provider across multiple sectors, including new energy vehicles [15][18]. Group 2: Financial Performance - The company has achieved a compound annual growth rate (CAGR) of 51.4% in revenue from 2018 to 2023, with revenue of 1.64 billion yuan in the first three quarters of 2024, reflecting a growth of 38.5% [19][20]. - The net profit attributable to the parent company has increased significantly, with projections for 2024 indicating a net profit of 210 to 240 million yuan, representing a year-on-year growth of 43% to 63% [22][24]. - In 2023, the revenue from the new energy business reached 940 million yuan, accounting for 52% of total revenue, with expectations for further growth in 2024 [26]. Group 3: Business Segments - The company operates three main business segments: EGR systems, new energy vehicle drive motor cores, and precision automotive components, with EGR systems contributing the most to profits while new energy vehicle components generate the highest revenue [27][28]. - The EGR product segment is projected to account for 34% of revenue in the first half of 2024, while new energy vehicle components are expected to contribute 43% [28]. - The market for EGR products is relatively small, with projections indicating a potential market size of 3.22 billion yuan by 2027, growing at a CAGR of 15.6% from 2024 to 2027 [32]. Group 4: Market Dynamics - The demand for drive motor cores is expected to grow significantly, driven by the increasing number of electric vehicles and hybrid models, with the market for motor cores projected to reach 11.33 billion yuan by 2027, growing at a CAGR of 26.2% [41][42]. - The company has a concentrated customer base, with the top five customers accounting for 65% of total sales in 2023, indicating a reliance on major clients for revenue [50][51]. - The overall gross margin has declined by 7.7 percentage points from 2021 to 2022, primarily due to the lower margins in the new energy segment, with the gross margin for the EGR segment at 24.5% and for new energy components at 11.9% in the first half of 2024 [53][55].

智通财经APP获悉，民生证券发布研报称，人形机器人板块正从主题投资迈向成长投资，2025年有望成 为全球量产元年。技术端，大模型突破通用性瓶颈，DeepSeek低成本训练范式加速AGI落地；产业端， 特斯拉、英伟达、华为等科技巨头密集布局；政策端，政府工作报告明确，培育具身智能等未来产业， 大力发展智能机器人。预计2025年全球出货量将达万台级别，2027年特斯拉目标产能突破百万台，产业 链长期成长空间打开。 民生证券主要观点如下： 产业逻辑：AI赋能+巨头入局，三重驱动强化趋势 1)技术基座升级：非具身大模型实现任务分解与规划，具身大模型直接输出高频动作指令，AGI终极形 态下机器人将具备单模型闭环、主动理解与强适应能力。 2)场景成本突破：特斯拉Optimus将率先导入超级工厂，车端供应链复用推动售价降至2-3万美元，远期 规模效应下成本有望进一步下探。 3)政策密集催化：2025年政府工作报告首次将具身智能纳入未来产业培育，地方政策围绕技术攻关、产 业集群、应用示范三方面加码，形成"中央定调-地方落实"的立体支持体系。 供给维度：全球产业巨头形成多维共振 1)特斯拉：2025年计划出货数千台，2027年 ...