Core Viewpoint - Longsheng Technology aims to enhance its market share in the electric vehicle sector by investing in a new lightweight component production base in Chongqing, with a total investment of approximately 200 million yuan [2] Group 1: Company Strategy - Longsheng Technology announced plans to accelerate the modularization and lightweight development of its semi-finished products [2] - The company intends to optimize its production capacity layout to better match customer demands [2] - Longsheng Technology will integrate resources and seize market opportunities to expand its coverage in key markets for electric vehicles [2] Group 2: Project Details - Chongqing Longsheng Maomao New Energy Technology Co., Ltd., a subsidiary of Longsheng Technology, plans to sign a cooperation agreement with Chongqing Sharing Industrial Investment Co., Ltd. [2] - The project involves the establishment of a lightweight component production base for electric vehicles in the Shapingba District of Chongqing [2] - The production base will focus on manufacturing electric vehicle drive components, thermal management systems, and lightweight parts [2]

Core Viewpoint - Longsheng Technology announced a collaboration with Chongqing Shared Industrial Investment Co., Ltd. to establish a lightweight component production base for new energy vehicles in Chongqing, with a total investment of approximately 200 million yuan [1] Group 1 - The project will focus on the production and manufacturing of drive components, thermal management, and lightweight parts for new energy vehicles [1] - An independent legal entity will be established to implement the project [1]

证券代码：300680 证券简称：隆盛科技 公告编号：2025-034 无锡隆盛科技股份有限公司 第五届董事会第八次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 一、董事会会议召开情况 2025 年 8 月 18 日，无锡隆盛科技股份有限公司（下称"公司"）第五届董事会 第八次会议在公司会议室以现场及通讯会议的方式召开，会议通知于 2025 年 8 月 15 日以书面通知等方式向各位董事发出。本次会议由董事长倪铭先生召集并主持，会议 应出席董事七名，实际出席董事七名。公司监事及高级管理人员列席本次会议。 本次会议的召集、召开符合《中华人民共和国公司法》及有关法律、法规、规章、 规范性文件及《公司章程》的有关规定。 二、董事会会议审议情况 经与会董事审议，以投票表决方式通过了以下议案： 1、审议通过《关于控股孙公司签订<隆盛茂茂新能源汽车轻量化零部件生产基地 项目合作协议书>的议案》 为加快半总成产品模块化与轻量化发展，优化产能区域布局以精准匹配客户需求， 公司将整合资源、把握市场机遇，扩大新能源汽车重点市场覆盖，持续提升该领域市 场份额。公司控 ...

证券代码：300680 证券简称：隆盛科技 公告编号：2025-035 无锡隆盛科技股份有限公司 第五届监事会第八次会议决议公告 经与会监事投票表决，会议审议并通过如下议案： 1、审议通过《关于控股孙公司签订<隆盛茂茂新能源汽车轻量化零部件生产基地 项目合作协议书>的议案》 本公司及监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。 一、监事会会议召开情况 2025 年 8 月 18 日，无锡隆盛科技股份有限公司（以下简称"公司"）第五届监 事会第八次会议在公司会议室以现场会议的方式召开，会议通知于 2025 年 8 月 15 日 以书面通知等方式向各位监事发出。本次会议由监事会主席沈家湖先生召集、主持， 会议应出席监事三名，实际出席监事三名。 本次会议的召集、召开符合《中华人民共和国公司法》及有关法律、法规、规章、 规范性文件及《公司章程》的有关规定。 二、监事会会议审议情况 无锡隆盛科技股份有限公司 监事会 2025年8月18日 公司控股孙公司重庆隆盛茂茂新能源科技有限公司拟与重庆共享工业投资有限 公司签署《隆盛茂茂新能源汽车轻量化零部件生产基地项目合作协议书》，将在 ...

证券代码：300680 证券简称：隆盛科技 公告编号：2025-036 关于控股孙公司签订《隆盛茂茂新能源汽车轻量化零部件生产基地 项目合作协议书》暨对外投资的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 一、对外投资概述 （一）基本情况 为加快半总成产品模块化与轻量化发展，优化产能区域布局以精准匹配客户需 求，公司将整合资源、把握市场机遇，扩大新能源汽车重点市场覆盖，持续提升该 领域市场份额。无锡隆盛科技股份有限公司（以下简称"公司"）控股孙公司重庆隆 盛茂茂新能源科技有限公司（以下简称"隆盛茂茂"）拟与重庆共享工业投资有限公 司签署《隆盛茂茂新能源汽车轻量化零部件生产基地项目合作协议书》，将在重庆 市沙坪坝区投资建设"隆盛茂茂新能源汽车轻量化零部件生产基地项目"。项目总 投资约为2亿元，拟设立独立法人公司作为项目实施主体，开展新能源汽车驱动类零 部件、热管理、轻量化部件等产品的生产制造。 （二）审议和表决情况 公司已于2025年8月18日召开第五届董事会第八次会议、第五届监事会第八次会 议，审议通过《关于控股孙公司签订<隆盛茂茂新能源汽车轻量化零部件生 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Insights - The report highlights the significance of tactile sensors in optimizing Tesla's Optimus robotic hand, emphasizing that the engineering effort for the hand constitutes half of the overall development [16][18] - Vision-tactile technology is identified as a key method for enhancing robotic interaction with the physical world, providing high-resolution tactile information through optical imaging and tactile perception [5][18] - Domestic companies are rapidly catching up with international leaders in tactile technology, leveraging local supply chains and application scenarios [7][47] Summary by Sections Section 1: Vision-Tactile Sensing - Tactile sensors are crucial for the optimization of Tesla's Optimus robotic hand, which features 22 degrees of freedom and tactile sensors on all fingers [16][17] - Vision-tactile technology captures microscopic deformations during contact with objects, converting them into high-resolution tactile data, enabling robots to perform delicate operations [18][22] - The technology allows for the simultaneous perception of normal force, shear force, object pose, and texture, closely mimicking human tactile capabilities [33] Section 2: Domestic Companies Catching Up - GelSight is recognized as the global leader in vision-tactile sensors, with significant advancements made by domestic startups in material design and deep learning models [7][47] - Notable companies include: - **叠动科技 (Diedong Technology)**: Innovated the integration of MEMS technology with vision-tactile sensing, receiving strategic investment from 隆盛科技 (Longsheng Technology) [49][50] - **帕西尼 (Paxini)**: A leader in multi-dimensional tactile technology, has received over 100 million yuan in strategic investment from BYD [56][61] - **一目科技 (Yimu Technology)**: Developed the world's first full-stack tactile system designed for precise operations, supported by 松霖科技 (Songlin Technology) [62] Section 3: Investment Recommendations - Recommended stocks include 隆盛科技 (Longsheng Technology) as a beneficiary of the advancements in vision-tactile technology [8]

Market Overview - The Shanghai Composite Index is at 3668.94 points, above the six-month moving average, with a slight increase of 0.07% [1] - The total trading volume of A-shares today is 932.665 billion yuan [1] Stocks Breaking the Six-Month Moving Average - A total of 132 A-shares have surpassed the six-month moving average today [1] - Notable stocks with significant deviation rates include: - Keda Li (科达利) with a deviation rate of 7.15% and a price increase of 7.85% [1] - Green Harmony (绿的谐波) with a deviation rate of 5.23% and a price increase of 5.20% [1] - Longsheng Technology (隆盛科技) with a deviation rate of 5.01% and a price increase of 5.48% [1] Stocks with Smaller Deviation Rates - Stocks that have just crossed the six-month moving average with smaller deviation rates include: - Anlu Technology (安路科技) with a deviation rate just above the average [1] - Jiyang Precision (吉冈精密) and Nanbo A (南玻A) also recently crossed the six-month line [1] Detailed Stock Performance - A detailed table lists various stocks, their trading performance, turnover rates, six-month moving average prices, latest prices, and deviation rates [1][2] - For example, Shanhua Intelligent Control (三花智控) shows a deviation rate of 4.65% with a price increase of 4.60% [1]

Group 1 - The core viewpoint of the news is that Longsheng Technology (300680) experienced a decline in stock price and significant net outflow of funds, despite showing positive revenue and profit growth in its latest quarterly report [1][3] - As of August 14, 2025, Longsheng Technology's stock closed at 39.4 yuan, down 5.06%, with a turnover rate of 8.79% and a trading volume of 154,600 hands, amounting to 611 million yuan [1] - The company reported total operating revenue of 606 million yuan for the first quarter of 2025, representing a year-on-year growth of 7.06%, and a net profit attributable to shareholders of 58.67 million yuan, up 11.41% year-on-year [1] Group 2 - Longsheng Technology has a current liquidity ratio of 1.245, a quick ratio of 0.986, and a debt-to-asset ratio of 50.26% [1] - The company has made investments in 15 enterprises and participated in 8 bidding projects, holding 653 patents and 2 trademarks [2]

Summary of Conference Call on Humanoid Robots and Precision Reducers Industry Overview - The humanoid robot market is experiencing explosive growth, significantly increasing the demand for precision reducers, with the market size expected to leap from billions to over a trillion [1][3] - The precision reducer industry has high technical barriers and low domestic production rates, but the domestic share is expected to rise with rapid industry growth and the development of China's supply chain, particularly in the harmonic and planetary reducer sectors [1][4] Key Points and Arguments - **Market Potential**: The global markets for harmonic, RV, and planetary reducers are all below $2 billion, with the Chinese market approximately $360 million, $620 million, and $520 million respectively, accounting for about half of the global share [1][6] - **Demand Variability**: Different humanoid robot designs have varying requirements for reducers; for instance, Tesla's design requires 14 harmonic reducers, while Fourier Technology needs 32 planetary reducers, and Yushu Technology requires 37 new-type reducers [1][7] - **Future Projections**: The ratio of harmonic to planetary reducers may shift from 7:3 to 9:1 as technology advances, with a potential market pull of $5 billion for planetary and over $40 billion for harmonic reducers when global humanoid robot sales reach 2 million [1][8] Technical and Market Status - **Reducer Types**: - Harmonic reducers are suitable for high-precision, lightweight applications like humanoid robot joints - RV reducers are used in high-rigidity, high-torque scenarios - Planetary reducers are known for high efficiency, precision, and longevity [4][5] - **Market Dynamics**: The harmonic reducer market is currently dominated by a few players, with Japan's Harmonic Drive holding 80% of the global market share and over 35% in China [9] Competitive Landscape - **Harmonic Reducers**: The market is characterized by oligopoly, with significant barriers to entry due to the need for high-purity alloy steel and specialized processing techniques [9] - **Planetary and RV Reducers**: The planetary reducer market is more fragmented, with Japanese and domestic companies holding 40%-50% of the market share. RV reducers have a high technical threshold, with domestic companies achieving rapid breakthroughs but still holding only 30%-40% of the market [10][11] Impact of Humanoid Robots - The rise of humanoid robots is driving explosive demand, similar to the transition seen in the electric vehicle components industry, pushing for higher investment, support, and technological iteration [12] Company Developments and Investment Recommendations - **Leading Companies**: Notable companies include Greenfield Harmonic, a leader in harmonic reducers, and Double Ring Transmission, which has rapidly grown its revenue from 3-4 billion in 2020 to nearly 10 billion [13] - **Emerging Players**: Longsheng Technology is also developing harmonic reducer products, indicating a promising future for domestic companies in this sector [14] - **Investment Outlook**: The humanoid robot sector is in a breakthrough phase, with strong expectations for the competitiveness of Chinese companies, making it a long-term investment focus [14]

Summary of Longsheng Technology Conference Call Company Overview - Longsheng Technology has achieved a compound annual growth rate (CAGR) of 46.8% in revenue from 2018 to 2023, with projected revenue of nearly 2.4 billion yuan in 2024, representing a year-on-year growth of 31% [2][8] - The company’s net profit attributable to shareholders is expected to reach 224 million yuan in 2024, a year-on-year increase of 53% [2] Business Expansion and Product Development - Longsheng Technology has expanded its business by integrating subsidiaries and establishing new companies, focusing on precision stamping and injection molding components to enhance product value [2][3] - The company has a leading position in the EGR (Exhaust Gas Recirculation) sector, holding a 40% market share in the light-duty diesel engine market and a 22% share in the gasoline engine market [2][6] - Major clients include Cummins, QuanChai, and Jiangling Motors, with expectations for the passenger car EGR market to reach 4 billion yuan and the commercial vehicle market to reach 1.5 billion yuan by 2026 [2][6] Market Position and Financial Performance - The revenue from the core business of EGR systems has significantly contributed to the overall financial performance, with total revenue increasing from 580 million yuan in 2020 to 1.83 billion yuan in 2023 [3][8] - The market for motor cores, a key component in electric vehicle drive motors, is projected to reach 10.3 billion yuan by 2026, with Longsheng supplying major clients like Tesla, Geely, and BYD [2][7] Shareholding Structure and Incentives - The controlling shareholder holds nearly 30% of the company, with clearly defined roles among subsidiaries focusing on precision components, new energy components, and aerospace precision manufacturing [4] - The company has successfully completed its stock incentive targets for the first two years and is expected to meet the target for the current year, which supports performance growth [4][5] Future Growth Potential - Longsheng Technology is expected to generate revenues of 3.2 billion yuan and 4 billion yuan in 2025 and 2026, respectively, with net profits projected to be slightly over 300 million yuan and 370 million yuan [4][16] - The company is also exploring opportunities in the aerospace sector, collaborating with institutions like Northwestern Polytechnical University to develop components for military drones and commercial aircraft [4][11][12] Investment Recommendations - The company is recommended as a strong investment opportunity, particularly in the robotics sector, with a suggested price-to-earnings (PE) ratio of 40 times for 2025 [4][16][17] - The ongoing development in the robotics field and the company's ability to adapt to market changes are seen as key factors for future valuation increases [17]