证券代码：300695 证券简称：兆丰股份 公告编号：2025-044 浙江兆丰机电股份有限公司 关于全资子公司拟受让基金份额暨 与专业投资机构共同投资的公告 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。 一、与专业投资机构共同投资情况概述 浙江兆丰机电股份有限公司（以下简称"公司"）全资子公司浙江兆煊科创 产业发展有限公司（以下简称"兆煊科创"）于 2025 年 8 月 15 日与淄博玖兆凯 泽产业投资合伙企业（有限合伙）（以下简称"玖兆凯泽"）签署《嘉兴玖兆烨 熠股权投资合伙企业（有限合伙）基金份额转让协议书》（以下简称"转让协议"）。 玖兆凯泽持有嘉兴玖兆烨熠股权投资合伙企业（有限合伙）（以下简称"玖 兆烨熠"或"投资标的"）38.1471%的财产份额（对应认缴金额人民币 7,040 万 元，实缴金额人民币 5,100 万元）。兆煊科创拟以自有资金人民币 5,000 万元受 让玖兆凯泽持有投资标的 37.6052%财产份额（对应认缴金额人民币 6,940 万元， 实缴金额人民币 5,000 万元）。同时，兆煊科创与其他合伙人昆山玖兆康乾投资 管理有限公 ...

Summary of Zhaofeng Co. Conference Call Industry and Company Overview - Zhaofeng Co. operates in the automotive wheel hub bearing development sector, similar to companies like Reddick and Slin. The company primarily generates revenue and profit from the aftermarket, with a net profit margin exceeding 20% and strong cash flow. The growth potential remains stable due to China's manufacturing advantages, with significant growth expected from the front-mounted market, particularly with clients like Chery, Chang'an, and Geely showing nearly 100% year-on-year growth in front-mounted business [3][4]. Core Insights and Arguments - The front-mounted market for Zhaofeng Co. has seen significant growth, with key clients such as Chery, Chang'an, and Geely experiencing nearly 100% year-on-year increases in business [2][3]. - The company is actively expanding into high-end industrial sectors, including shield machines and electronic control products, with expectations that the automotive main business profit will exceed 200 million yuan by 2026 [2][3]. - Zhaofeng Co. has successfully engaged in external investments through GP product collaborations, yielding substantial investment returns and cash flow, with a stake in Chery valued at approximately 1 billion yuan if the company goes public [2][4]. Investment Strategies and Successes - Zhaofeng Co. has made successful investments in several projects, including Chery Yundongchu, New Stoneware, Galaxy General, and Kepler, which have resulted in significant investment returns and cash flow [4]. - The investments not only provide financial benefits but also keep the company aligned with cutting-edge technology developments, particularly in the robotics sector, where many invested companies are also clients [4]. Advantages in Humanoid Robotics - Zhaofeng Co. holds a competitive edge in the humanoid robotics field by investing in multiple domestic humanoid robot companies, such as Kepler, which utilize advanced screw solutions, allowing for early product trials [5]. - The company leverages resources from universities in Hangzhou for linear joint development, fostering a synergy between academia and industry that enhances technological accumulation [5]. - The management team has an international background, enabling potential collaborations with leading overseas companies, further enhancing Zhaofeng's capabilities in humanoid robotics [5]. Management Team Impact - The management team is described as young and energetic, with the general manager possessing investment banking and analyst experience, which drives a strong belief in business expansion [6]. - This dynamic management approach is crucial for strategic investment layouts that yield significant returns while achieving breakthroughs in humanoid robotics [6]. - Projections indicate that the main business profit could reach 200 million yuan by 2026, supplemented by several hundred million in investment returns, leading to a strong financial performance and a favorable valuation [6].

证券研究报告 | 浙商早知道 报告日期：2025 年 08 月 06 日 浙商早知道 2025 年 08 月 06 日 ：王禾 执业证书编号：S1230512110001 ：021-80105901 ：wanghe@stocke.com.cn 市场总览 重要推荐 ❑ 【浙商大制造中观策略 邱世梁/周艺轩】兆丰股份（300695）公司深度：汽车轮毂轴承领军者，战略投资人形机 器人头部主机厂/丝杠产能——20250805 重要点评 ❑ 【浙商机械 邱世梁/王华君/何家恺】永创智能（603901）公司点评：与京东工业战略合作开拓渠道，人形机器人 业务打开成长空间——20250804 http://www.stocke.com.cn 1/4 请务必阅读正文之后的免责条款部分 ❑ 大势：8 月 5 日上证指数上涨 0.96%，沪深 300 上涨 0.8%，科创 50 上涨 0.4%，中证 1000 上涨 0.71%，创业板指 上涨 0.39%，恒生指数上涨 0.68%。 ❑ 行业：8 月 5 日表现最好的行业分别是综合（+1.98%)、银行（+1.59%)、钢铁（+1.45%)、传媒（+1.28%)、通信 （+1.25 ...

证券研究报告 | 公司深度 | 汽车零部件 兆丰股份(300695) 报告日期：2025 年 08 月 05 日 汽车轮毂轴承领军者，战略投资人形机器人头部主机厂/丝杠产能 ——兆丰股份深度报告 投资要点 | 财务摘要 | | | | | | --- | --- | --- | --- | --- | | [Table_Forcast] (百万元) | 2024A | 2025E | 2026E | 2027E | | 营业收入 | 665 | 757 | 973 | 1,287 | | (+/-) (%) | -17.5% | 13.7% | 28.6% | 32.3% | | 归母净利润 | 140 | 169 | 204 | 248 | | (+/-) (%) | -23.9% | 20.7% | 20.8% | 21.7% | | 每股收益(元) | 2.0 | 2.4 | 2.9 | 3.5 | | P/E | 47.6 | 39.4 | 32.6 | 26.8 | | ROE | 5.5% | 6.3% | 7.1% | 8.0% | 资料来源：Wind，浙商证券研究所 投资评级: 买入(首次) ...

公司发布的一季报数据显示，一季度公司共实现营业收入1.58亿元，同比增长3.88%，实现净利润 3146.29万元，同比增长20.32%，基本每股收益为0.4500元，加权平均净资产收益率1.22%。 （文章来源：证券时报网） 兆丰股份股价创出历史新高，截至14:48，该股上涨10.00%，股价报94.05元，成交量403.01万股，成交 金额3.64亿元，换手率3.94%，该股最新A股总市值达96.17亿元，该股A股流通市值96.17亿元。 证券时报·数据宝统计显示，兆丰股份所属的汽车行业，目前整体涨幅为0.89%，行业内，目前股价上涨 的有254只，涨停的有飞乐音响、日盈电子等6只。股价下跌的有38只，跌幅居前的有金鸿顺、派特尔、 江淮汽车等，跌幅分别为5.42%、4.66%、4.31%。 ...

Market Overview - A-shares maintained a narrow fluctuation on July 16, with the Shanghai Composite Index closing at 3503.78 points, down 0.03% [1] - The Shenzhen Component Index and the ChiNext Index both fell by 0.22% to 10720.81 points and 2230.19 points, respectively [1] - The total trading volume in the Shanghai and Shenzhen markets was 146.19 billion yuan, a decrease of over 170 billion yuan from the previous day [1] Sector Performance - Financial stocks collectively declined, while the steel, non-ferrous metals, and coal sectors showed weakness [1] - The automotive supply chain stocks surged, with companies like Rongtai Co., Fuda Co., and Zhejiang Rongtai hitting the daily limit [1] - The innovative drug concept saw significant activity, with stocks like Guosheng Tang and Iwu Biotech rising approximately 16% [5][6] - The humanoid robot concept remained hot, with companies like Shangwei New Materials achieving a six-day limit increase [2][4] Notable Company Movements - Huadian New Energy, which debuted on the Shanghai main board, closed up 125.8%, reaching a market value of over 300 billion yuan at one point [1] - Weiyali, a Hong Kong-based electronic component distributor, saw its stock surge by 288% upon resuming trading, with an intraday increase exceeding 900% [1] Humanoid Robot Sector Insights - The humanoid robot industry is in its early stages, with significant growth expected in the next 3 to 5 years across various applications [4] - The current phase is described as the "dawn" of humanoid robot industrialization, with mass production and large-scale application becoming feasible [4] - Cost reduction is crucial for the widespread adoption of humanoid robots, and companies that master core component technologies are recommended for investment [4] Innovative Drug Sector Insights - The innovative drug sector experienced strong gains, with several companies hitting the daily limit [5][6] - The recent launch of the 11th batch of national drug centralized procurement is expected to impact the market, focusing on mature "old drugs" rather than innovative drugs [7] - The introduction of measures to support the high-quality development of innovative drugs indicates a growing role for commercial insurance in the healthcare system [7] Pet Economy Sector Insights - The pet economy concept gained traction, with companies like Weike Technology rising over 10% [8] - The pet food sector is viewed as a growing market with significant long-term growth potential, particularly for domestic brands [8]

证券代码：300695 证券简称：兆丰股份 公告编号：2025-043 浙江兆丰机电股份有限公司 关于使用部分闲置募集资金进行现金管理的进展公告 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。 浙江兆丰机电股份有限公司（以下简称"公司"）于 2025 年 4 月 19 日召开 第六届董事会第二次会议和第六届监事会第二次会议，2025年5月13日召开2024 年度股东大会，审议通过了《关于使用部分闲置募集资金进行现金管理的议案》， 为提高闲置募集资金使用效率，同意公司在不影响募投项目建设和募集资金正常 使用的情况下，使用不超过 5.5 亿元（含 5.5 亿元）人民币的暂时闲置募集资金 进行现金管理，投资于期限不超过 12 个月的保本型产品。授权期限为自股东大 会审议通过之日起 12 个月内。在上述额度和期限内，资金可循环滚动使用。具 体内容详见公司于 2025 年 4 月 22 日及 2025 年 5 月 13 日在巨潮资讯网 （http://www.cninfo.com.cn）上披露的相关公告。 近期公司使用部分闲置募集资金进行现金管理具体情况如下： 截至本公 ...

Core Viewpoint - Shanghai Kepler Robotics Co., Ltd. is focusing on strategic partnerships with listed companies in the automotive and robotics supply chain rather than traditional financial investors to enhance its capabilities and resources in the humanoid robotics sector [6][10]. Financing and Investment - Kepler completed an A+ round of financing on July 9, 2023, with new investors including listed companies Taotao Automotive and Furande, alongside previous investors from its A and Pre-A rounds [6][7]. - The company aims to build an industrial chain resource and address key component shortages in humanoid robotics, emphasizing that financial investors may not provide the necessary industry empowerment [6][10]. Industry Collaboration - The seven listed companies involved in Kepler's financing primarily focus on upstream component manufacturing and material supply, which can be leveraged for humanoid robotics development [8]. - Kepler is forming joint ventures with some of its investors to enhance collaboration and resource integration, such as establishing a company focused on robotic dexterous hands [9]. Product Development Strategy - Kepler adopts a "hardware-first" approach, believing that a stable and cost-effective hardware foundation is crucial for success in the humanoid robotics market [12][13]. - The company is developing both bipedal humanoid robots and wheeled robots, with the latter being seen as a transitional form for factory deployment [16]. Market Potential and Challenges - The humanoid robotics market is expected to see significant growth, with Kepler projecting a production capacity of 500 units per year from its new assembly plant [17]. - The company anticipates that its humanoid robots will be commercially viable in industrial settings, particularly for repetitive tasks, despite current challenges in scaling production [14][18]. Financial Considerations - Kepler's pricing strategy aims to provide a cost advantage in the market, with its "Pioneer K2" robot priced at approximately $30,000, which is competitive compared to traditional labor costs [13][17]. - The company is cautious about overextending financially, focusing on product development and market readiness before pursuing large-scale financing [18].

Core Insights - The company has successfully completed its A+ round of financing, attracting investments from Furan De and Taotao Automotive, marking the third financing update in the past six months [1] - The company aims to leverage the sales channels and operational experience of Taotao Automotive to establish an independent brand in North America, initiating its global commercial expansion [1] Investment and Partnerships - The company has attracted a total of seven listed company investors, including Furan De, Taotao Automotive, Zhaofeng Co., Hanwei Technology, Qiaofeng Intelligent, Keli Sensor, and Weichuang Electric [2] - The strategic partnerships with these companies focus on enhancing various technical aspects of humanoid robots, such as control precision, environmental perception, and manufacturing accuracy [3][4] Product Development - The company has developed two humanoid robot models, the Pioneer K1 and Pioneer K2, with the latter being its fifth-generation product, standing 175 cm tall and weighing 75 kg, capable of working for eight hours on a one-hour charge [6] - The robots are designed for diverse applications, including smart manufacturing, logistics, security patrols, and educational purposes [6] Market Challenges - The company acknowledges multiple challenges in the commercialization of humanoid robots, including insufficient scene adaptability, high cost control difficulties, fragmented channel networks, and the lack of unified global market standards [6][7] - The company aims to build a "technology-channel-market" integrated approach to develop customized application solutions tailored to different regional markets [7]

证券代码：300695 证券简称：兆丰股份 公告编号：2025-042 浙江兆丰机电股份有限公司 关于收购控股子公司剩余股权进展 暨完成工商变更登记的公告 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。 一、交易概述 浙江兆丰机电股份有限公司（以下简称"公司"）于 2025 年 6 月 27 日召开 第六届董事会第四次会议，审议通过了《关于收购控股子公司剩余股权暨关联交 易的议案》，同意公司以自有资金 1,500 万元收购杭州大兆丰实业集团有限公司 （以下简称"大兆丰集团"）持有的兆丰（杭州）智能装备有限公司（以下简称 "兆丰智能装备"或"标的公司"）30%股权。本次交易完成后，公司持有兆丰 智能装备 100%股权，兆丰智能装备将成为公司全资子公司。具体内容详见公司 于 2025 年 6 月 27 日在巨潮资讯网（http://www.cninfo.com.cn）上披露的《关于 收购控股子公司剩余股权暨关联交易的公告》（公告编号：2025-041）。 二、进展情况 近日，公司与大兆丰集团已按股权转让协议约定完成相关交易，兆丰智能装 备也完成了工商变更登记手续， ...