Group 1 - The company reported a revenue of 1.224 billion yuan for H1 2025, a year-on-year increase of 15.44%, and a net profit attributable to shareholders of 105 million yuan, a slight increase of 1.38% year-on-year, indicating that overall performance met expectations [1] - The automotive parts business maintained stable growth, while the humanoid robot business, including harmonic reducers and dexterous hands, achieved multiple breakthroughs, gradually forming a dual-driven development model of "automotive + robotics" [1] - The company maintains its profit forecast, expecting net profits attributable to shareholders to be 401 million, 603 million, and 761 million yuan for 2025-2027, corresponding to current price-earnings ratios of 31.8, 23.9, and 18.0 times, respectively, and maintains a "buy" rating [1] Group 2 - In the EGR business segment, revenue reached 451 million yuan in H1 2025, a year-on-year increase of 27.44%, benefiting from the trend of hybridization in oil vehicles, with increased market share in passenger vehicles and breakthroughs in the commercial vehicle market [2] - The new energy business generated revenue of 484 million yuan, a year-on-year increase of 6.05%, with significant advancements in welding technology for thin materials and successful project acquisitions, indicating strong growth momentum [2] - The precision automotive parts segment achieved revenue of 287 million yuan, a year-on-year increase of 19.61%, with 50 small assembly projects accumulated in the first half of the year, indicating a steady release of performance as new project orders continue to be delivered [2] Group 3 - The humanoid robot business is steadily advancing, focusing on breakthroughs in core components such as dexterous hand assemblies, harmonic reducers, and joint modules [3] - The company has successfully developed a compact and lightweight harmonic reducer, reducing weight by 30%-40% compared to traditional products, and is expected to achieve a production capacity of 70,000 harmonic reducers by Q1 2026 [3] - The dexterous hand products are continuously iterating, with plans to form three product lines: military-grade, industrial-grade, and consumer-grade, alongside a strategic investment in a technology company to enhance sensor technology [3]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's performance in H1 2025 met expectations, with revenue of 1.224 billion yuan, a year-on-year increase of 15.44%, and a net profit attributable to shareholders of 105 million yuan, a slight increase of 1.38% year-on-year. The automotive parts business remains stable, while the humanoid robot segment, including harmonic reducers and dexterous hands, has made multiple breakthroughs, establishing a dual-driven growth model of "automotive + robotics" [2][3] - The company maintains its profit forecast, expecting net profits attributable to shareholders to be 401 million yuan, 603 million yuan, and 761 million yuan for 2025-2027, corresponding to a current price-to-earnings ratio (PE) of 31.8, 23.9, and 18.0 times, respectively [2] Segment Summaries - **EGR Business**: In H1 2025, revenue reached 451 million yuan, a year-on-year increase of 27.44%. The company benefited from the trend of hybrid vehicles, increasing its market share in the passenger car sector and achieving breakthroughs in the commercial vehicle market [3] - **New Energy Business**: Revenue was 484 million yuan, a year-on-year increase of 6.05%. The company focused on electric motor core business and successfully developed welding technology for thin materials of 0.2mm, with significant growth potential [3] - **Precision Automotive Parts**: Revenue reached 287 million yuan, a year-on-year increase of 19.61%. The company accumulated 50 small assembly projects in the first half of the year, with several projects expected to ramp up in the second half [3] - **Humanoid Robot Business**: The company is leveraging its precision manufacturing capabilities to focus on key components such as harmonic reducers and joint modules. A new lightweight harmonic reducer has been developed, reducing weight by 30%-40% compared to traditional products. The company also invested in a technology firm to enhance sensor technology for dexterous hands [4]

Core Insights - The humanoid robot industry is emerging as a new frontier in technological competition and a key area for listed companies to invest in [1] Company Developments - Top Group (601689) is expanding its robot product line by establishing an electric drive division, focusing on core components like actuators and developing various robotic products [3] - Sanhua Intelligent Control (002050) is enhancing its capabilities in bionic robot actuators and has received high praise from clients for its innovative product improvements [3] - Junpu Intelligent (688306) has successfully developed a humanoid robot arm prototype and is establishing a production line for humanoid robots, marking a significant commercial milestone with a contract worth approximately 28.25 million yuan [4] - Efort (688165) is increasing its investment in humanoid robots and believes in the long-term value of the robot industry, with over 90 million yuan allocated for R&D in the first half of 2025 [4] - Longsheng Technology (300680) is advancing its dual-path approach in core component and complete machine development, achieving breakthroughs in key components [5] Industry Trends - The demand for high-end screws and bearings is expected to grow rapidly alongside the development and commercialization of humanoid robots and smart vehicles [6] - Beite Technology (603009) is investing 1.85 billion yuan in a new planetary roller screw production base, with ongoing construction [6] - Zhenyu Technology (300953) has delivered various micro components and is in the process of supplier onboarding for linear actuators and planetary roller screws [6] - Wuzhou Xinchun (603667) is focusing on reverse planetary roller screws and has secured small batch orders from several clients [7] - Fuliwang (688678) has developed multiple specifications of micro planetary roller screws and is actively supplying components to leading industry clients [7]

Core Insights - The humanoid robot industry is emerging as a new competitive frontier in technology, attracting significant interest from listed companies [1] - Companies are showcasing their latest advancements in humanoid robotics through their recent semi-annual reports [1] Company Developments - Top Group (拓普集团) is expanding its robotics product line by establishing an electric drive division, focusing on key components like linear and rotary actuators, and is actively developing products such as dexterous hand motors [2] - Sanhua Intelligent Control (三花智控) is enhancing its product capabilities in the bionic robotics sector, receiving high praise from clients for its innovative developments and overall product improvements [2] - Junpu Intelligent (均普智能) has successfully developed a humanoid robot arm prototype with a load capacity of 10 kg and is constructing a production line with an annual capacity of 1,000 units [3] - Efort (埃夫特) is investing over 90 million yuan in R&D for industrial robots and humanoid robotics, emphasizing its commitment to the long-term value of the robotics industry [3] - Longsheng Technology (隆盛科技) is advancing its dual-path strategy in core component and complete machine development, achieving breakthroughs in key components [4] Industry Growth - The demand for high-end screws and bearings is expected to rise rapidly alongside the development and commercialization of humanoid robots and smart vehicles [5] - Beite Technology (北特科技) is investing 1.85 billion yuan to establish a planetary roller screw R&D and production base, with ongoing construction of the main project [5] - Zhenyu Technology (震裕科技) has delivered various micro screw components and is engaged in integrating hardware solutions for dexterous hands, with successful small-batch orders from domestic and international clients [5] - Wuzhou Xinchun (五洲新春) is focusing on reverse planetary roller screws and automotive ball screws, securing small-batch orders from several clients due to its technological advantages [6] - Fuliwang (福立旺) has developed multiple specifications of micro planetary roller screws and is in the process of sample delivery to leading industry clients [6]

Financial Performance - In the first half of 2025, the company reported revenue of 1.224 billion yuan, a year-over-year increase of 15.4%, and a net profit attributable to shareholders of 105 million yuan, up 1.4% year-over-year [1] - In Q2 2025, the net profit attributable to shareholders was 46 million yuan, reflecting a year-over-year and quarter-over-quarter decrease of 9.0% and 21.5% respectively [1] Revenue Breakdown - The sales gross margin and net profit margin for H1 2025 were 18.1% and 8.9% respectively [2] - EGR revenue reached 451 million yuan, a year-over-year increase of 27.44%, with a gross margin of 21.33%, down 3.14 percentage points year-over-year [2] - New energy business revenue was 484 million yuan, up 6.05% year-over-year, with a gross margin of 9.63%, down 2.27 percentage points year-over-year [2] - Precision automotive parts revenue was 287 million yuan, a year-over-year increase of 19.61%, with a gross margin of 22.88%, down 1.43 percentage points year-over-year [2] Aerospace and Robotics Developments - In H1 2025, the company saw a doubling in business volume for satellite modules and drone projects, and expanded into precision missile component support [3] - The company successfully overcame key technical challenges in harmonic reducers, improving product performance and reducing weight by 30%-40% compared to traditional products [4] - The "Lansen 2nd generation" robot has advanced from executing fixed commands to intelligent decision-making and optimization, enhancing operational precision and collaborative capabilities [4] Strategic Partnerships and Innovations - The company has invested in Dido Technology, which has developed the world's first millimeter-level high-performance tactile sensor, enhancing robotic capabilities in precision tasks [5][6] - The collaboration aims to improve automation in production and industrial inspection, addressing the common industry challenge of advanced technology implementation [6] Profit Forecast - The company is projected to achieve revenues of 3.27 billion yuan, 4.23 billion yuan, and 5.34 billion yuan from 2025 to 2027, with year-over-year growth rates of 36.5%, 29.3%, and 26.2% respectively [7] - The net profit attributable to shareholders is expected to reach 321 million yuan, 419 million yuan, and 513 million yuan during the same period, with growth rates of 42.9%, 30.7%, and 22.4% respectively [7]

Group 1 - The core point of the article is that Longsheng Technology (SZ 300680) held its fifth board meeting on August 28, 2025, to review the proposal for the 2025 semi-annual report [1] - In the fiscal year from January to December 2024, the revenue composition of Longsheng Technology was 99.03% from the automotive parts industry and 0.97% from the machining industry [1]

Core Viewpoint - Longsheng Technology (300680.SZ) reported a revenue of 1.224 billion yuan for the first half of 2025, reflecting a year-on-year growth of 15.44% [1] - The net profit attributable to shareholders reached 105 million yuan, with a year-on-year increase of 1.38% [1] - The net profit excluding non-recurring gains and losses was 100 million yuan, showing a year-on-year growth of 4.63% [1] - Basic earnings per share stood at 0.4533 yuan [1] Financial Performance - Revenue: 1.224 billion yuan, up 15.44% year-on-year [1] - Net Profit: 105 million yuan, up 1.38% year-on-year [1] - Net Profit (excluding non-recurring items): 100 million yuan, up 4.63% year-on-year [1] - Basic Earnings per Share: 0.4533 yuan [1]

证券代码：300680 证券简称：隆盛科技 公告编号：2025-043 无锡隆盛科技股份有限公司 关于变更注册资本、调整组织架构、修订<公司章程>及制定、 修订公司部分治理制度的公告 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。 1 规则》将相应废止。同时，结合公司董事会人员构成情况，公司拟将董事会人数由 7 名调整为 8 名，其中独立董事 3 名不变，非独立董事增加 1 名职工代表董事，由 4 名 增加至 5 名。 无锡隆盛科技股份有限公司（以下简称"公司"）于 2025 年 8 月 28 日召开第五 届董事会第九次会议，审议通过了《关于变更注册资本、调整组织架构并修订<公司 章程>的议案》、《关于制定、修订公司部分治理制度的议案》，现将相关情况公告 如下： 一、变更公司注册资本情况 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 ...

无锡隆盛科技股份有限公司 2025 年半年度非经营性资金占用及其他关联资金往来情况汇总表 编制：无锡隆盛科技股份有限公司 单位：万元 非经营性 资金占用 资金占用方名称 占用方与上市公司 的关联关系 上市公司核算 的会计科目 2025 年期初 占用资金余 额 2025 年半年度 占用累计发生 金额（不含利 息） 2025 年半年 度占用资金 的利息（如 有） 2025 年半 年度偿还累 计发生金额 2025 年半年 度期末占用 资金余额 占用形成原因 占用性质 控股股东、实际控制 人及其附属企业 小计 — — — — 前控股股东、实际控 制人及其附属企业 小计 — — — — 其他关联方及附属 企业 小计 — — — — 总计 — — — — 其他关联 资金往来 资金往来方名称 往来方与上市公司 的关联关系 上市公司核算 的会计科目 2025 年期初 占用资金余 额 2025 年半年度 占用累计发生 金额（不含利 息） 2025 年半年 度占用资金 的利息（如 有） 2025 年半 年度偿还累 计发生金额 2025 年半年 度期末占用 资金余额 往来形成原因 往来性质 控股股东、实际控制 人及其附属企业 上市 ...

为使投资者全面了解公司2025年半年度的经营成果及财务状况等，公司2025年 半年度报告及其摘要于2025年8月29日在巨潮资讯网（www.cninfo.com.cn）上披露， 敬请投资者注意查阅。 无锡隆盛科技股份有限公司 2025 年半年度报告披露的提示性公告 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。 证券代码：300680 证券简称：隆盛科技 公告编号：2025-039 无锡隆盛科技股份有限公司（以下简称"公司"）于2025年8月28日召开第五届 董事会第九次会议，审议通过了《关于公司<2025年半年度报告全文及摘要>的议案》。 无锡隆盛科技股份有限公司 董事会 2025年8月29日 ...