证券代码：300863 证券简称：卡倍亿 公告编号：2026-006 宁波卡倍亿电气技术股份有限公司 关于境外设立孙公司的公告 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、对外投资概述 1、对外投资的基本情况。 为满足公司海外业务发展的需要，进一步拓展东南亚市场，快速响应当地客 户的需求并实现产品快速交付，宁波卡倍亿电气技术股份有限公司（以下简称"公 司"）拟通过下属全资子公司香港卡倍亿实业有限公司出资设立全资孙公司越南 卡倍亿电气技术有限公司（暂定名，以工商登记为准），最终投资建设越南生产 基地。本项目预计累计总投资额不超过 3,600 万美金（约 2.5 亿人民币）。 2、董事会审议情况 公司于 2026 年 3 月 16 日召开第四届董事会第六次会议，审议通过了《关于 境外设立孙公司的议案》。上述议案不需要提交公司股东会审议。 3、其他情况说明 本次对外投资不涉及关联交易，不构成《上市公司重大资产重组管理办法》 规定的重大资产重组。 二、投资标的基本情况 1、公司名称：越南卡倍亿电气技术有限公司 2、英文名称：KBY Vietnam Electr ...

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：300863 证券简称：卡倍亿 公告编号：2026-005 宁波卡倍亿电气技术股份有限公司 第四届董事会第六次会议决议公告 一、董事会会议召开情况 宁波卡倍亿电气技术股份有限公司（以下简称"公司"）于 2026 年 3 月 10 日以电 子邮件等方式向全体董事、高级管理人员发出召开公司第四届董事会第六次会议的通知。 本次会议于 2026 年 3 月 16 日上午在公司会议室以现场与通讯相结合的方式召开。会议 应出席董事 7 名，实际参加表决的董事 7 名，公司全体高级管理人员列席会议，会议由 董事长林光耀先生主持。本次会议的召开符合国家有关法律、法规和《公司章程》的规 定。 二、董事会会议审议情况 （一）审议通过《关于境外设立孙公司的议案》 同意公司以自有或自筹资金累计总投资额不超过 3,600 万美元，通过全资子公司香 港卡倍亿实业有限公司出资设立全资孙公司越南卡倍亿电气技术有限公司（暂定名，以 工商登记为准），最终通过该孙公司在越南投资建设生产基地。 董事会同时授权公司管理层具体办理上述公司组建的各 ...

Summary of Key Points from the Conference Call on Humanoid Robotics Sector Industry Overview - The humanoid robotics sector has experienced a significant pullback of 20%-25% after a prior increase of 2-4 times, indicating a potential left-side entry point for investments as current valuations have absorbed pessimistic expectations [1][2] - The upcoming Tesla V3 launch in April 2026 is anticipated to be a core catalyst, showcasing advancements in dexterous hands and AI, which could revise market expectations from 1 million units to a potential 2-5 million units in the long term [1][2] Core Insights and Arguments - The investment paradigm for 2026 is expected to shift towards differentiation, prioritizing companies with confirmed supply chains for V3 and those with customer barriers and deep applications in downstream scenarios, such as Hangzhou Forklift Group and Yongchuang Intelligent [1] - Ampelron is identified as a leader in force sensors, with the V3 version's unit value projected to rise to 12,000 yuan, corresponding to a market size of 12 billion yuan for 1 million robots; the company's target market cap is estimated between 16 billion to 30 billion yuan [1][7] - Zhaowei Electromechanical is highlighted for its core role in the Tesla and Figure supply chains, with expected profits of 400-500 million yuan in 2026, driven by over 30% growth in automotive and AI home business [1][9] Market Dynamics and Sentiment - The humanoid robotics sector has faced a significant correction due to three main factors: crowded trading, pessimistic market sentiment regarding the industry's bottlenecks, and a shift in investment focus towards faster-return themes like North American power shortages and commercial aerospace [2][3] - Historical data suggests that the sector typically experiences pullbacks of 20%-25%, which has been reached, indicating limited further downside potential [2] - The market sentiment is expected to shift from extreme pessimism to neutrality or even optimism if short-term catalysts emerge, particularly around Tesla's V3 release [3][4] Potential Catalysts - Key short-term catalysts include the release of Tesla's V3 video and the actual production figures for 2026, with three potential market reactions based on the V3 release outcomes: 1. Exceeding expectations could lead to a rapid shift in sentiment and an upward revision of long-term unit expectations [3] 2. Meeting expectations would likely stabilize the market and reinforce confidence in Tesla's production capabilities [3] 3. Falling short of expectations could maintain downward pressure on the sector, although the long-term outlook remains positive [4] Investment Focus for 2026 - The investment focus for 2026 is expected to diverge from the previous two years, with a greater emphasis on companies that are confirmed suppliers for V3 and those with high barriers to entry in sensor technology [4][5] - Companies with strong customer orders and performance capabilities, particularly those already engaged with Tesla, are prioritized [5][6] - The importance of data and application scenarios is emphasized, with companies like Hangzhou Forklift Group and Yongchuang Intelligent being highlighted for their understanding of downstream applications [5][6] Company-Specific Insights - Ampelron's sensor business is projected to grow significantly, with a conservative estimate of 11 billion yuan in option value for its humanoid robotics segment, alongside a solid valuation for its core sensor business [7][8] - Zhaowei Electromechanical is noted for its strong positioning in the Tesla supply chain, with a projected profit of 400-500 million yuan in 2026, driven by its innovative automotive components [9][10] Conclusion - The humanoid robotics sector is viewed as a promising investment opportunity, particularly for companies like Zhaowei Electromechanical and Ampelron, which possess strong fundamentals and growth potential in the context of the upcoming technological advancements and market recovery [10]

证券研究报告|公司深度研究报告 [Table_Date] 2026 年 03 月 10 日 [Table_Title2] 卡倍亿(300863) [Table_Summary] 主要观点: ► 三十余载深耕细作，铸就汽车线缆行业标杆 公司始创于 1986 年，是国内首家汽车线缆 A 股上市公司， 深耕行业 30 余年完成从区域作坊到全球化高端供应商的蜕 变。形成传统基础线缆、新能源高压线缆、数据传输线缆全品 类产品矩阵，产品符合国际标准，与宝马、奔驰、比亚迪、特 斯拉等国内外主流整车厂建立稳定合作关系，长期服务矢崎、 安波福等全球线束十强企业，构建起高壁垒的全球化客户体 系。国内完成长三角、珠三角等汽车产业集群产能布局，海外 墨西哥基地加速建设，全球化产能网络支撑主业持续增长。 ► 电动化智能化驱动赛道扩容 汽车线缆作为汽车电气系统核心部件，随全球汽车产业电动 化、智能化、轻量化升级迎来发展新周期。800V 高压平台普 及、L3 级自动驾驶商业化推进推动高压线缆、高速数据线需 求放量，叠加新能源汽车销量持续攀升，2025 年中国新能源 汽车线缆市场规模预计达 50 亿元，2025-2031 年全球汽车线 缆市 ...

Core Viewpoint - The company, Ningbo Kabeiyi Electric Technology Co., Ltd. (stock code: 300863), is actively expanding its business, securing project financing, and exploring new fields. Group 1: Recent Developments - The company secured its first overseas designated project in March 2025, supplying automotive cable products to international clients, with an expected total sales of approximately 1 billion yuan from 2025 to 2027 [2] - In April 2025, the board approved the issuance of convertible bonds not exceeding 600 million yuan for the construction of projects including the Shanghai high-speed copper cable project and the automotive cable and high-speed copper cable production base in Mexico [3] Group 2: Business Progress - The company has completed the development of high-speed copper cable samples with rates of 56G, 112G, and 224G, with the 224G product already achieving small-scale production and being sent for verification by leading enterprises [4] Group 3: Company Status - The company established a wholly-owned subsidiary, Shanghai Kabeiyi Robotics Co., Ltd., to focus on the research and production of robotic components; additionally, it founded Shanghai Kabeiyi Aerospace Technology Co., Ltd. in January 2026 to explore commercial aerospace-related businesses [5]

Summary of Conference Call Records Industry Overview: Humanoid Robotics Key Companies and Developments - **Hengshuai Co., Ltd.** - The North American robotics team has completed factory audits, confirming that the hand motors are on the direct supply list, with body motors expected to follow, potentially becoming the only tier-one supplier in the motor segment [1] - Estimated value of body and hand motors per unit exceeds 10,000 yuan [1] - Set to become the fifth core supplier to sign a framework cooperation agreement with major North American clients, following companies like Sanhua, Topband, Rongtai, and Changying Precision [1] - **Minshi Group and Lide Harmony** - Minshi Group announced a joint venture with Lide Harmony to design, manufacture, and commercialize humanoid robot joint modules in the U.S., with Minshi holding a 60% stake and Lide Harmony 40% [1] - **Changyuan Donggu** - Core supplier for quadruped robots, capable of large-scale supply; the biped robot subsidiary is expected to launch prototypes in Q1, with leg joint testing ongoing [2] - **Kedali** - Secured North American clients for harmonic reducers, rotary modules, and customized screw drawings, with positive feedback on sample tests leading to potential bulk procurement agreements [2] - **Wankai New Materials** - Participated in a technology innovation showcase in Beijing, receiving significant attention for its dexterous hand product capable of complex tasks [2] - **Shuanghuan Transmission** - The cycloidal pinwheel reducer is confirmed for use in the V4 C-end robot at two hip positions [2] - **Fule New Materials** - Signed a comprehensive strategic cooperation agreement with Lingxin Qiaoshou for the procurement of 100,000 tactile sensors [2] - **Hua Yi Technology** - IMU has been sent for testing, with no domestic competitors and a high probability of passing tests; the value per humanoid unit is several thousand yuan, with usage ranging from 3 to 10 units [3] - **Anpeilong** - Achieved breakthrough progress with North American clients, with positive feedback on single-dimensional sensors valued at 10,000 yuan per unit; discussions on expanding production in Thailand are ongoing [4] - **Siling Zhichui** - Confirmed harmonic agreements with a production capacity of 1 million harmonic drives, with significant progress in bearing products and a 70%+ increase in average selling price (ASP) [4] Industry Insights - The conference highlighted the rapid advancements and collaborations within the humanoid robotics sector, indicating a strong market potential and increasing demand for components and systems [4] - The emphasis on joint ventures and strategic partnerships suggests a trend towards consolidation and resource sharing among key players in the industry [1][2][4] Additional Notes - All information presented is based on market rumors and should be considered with caution, as it does not represent personal opinions or investment advice [5]

证券代码：300863 证券简称：卡倍亿 公告编号：2026-004 宁波卡倍亿电气技术股份有限公司 关于为全资子公司银行授信提供担保的进展公告 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。 一、担保情况概述 宁波卡倍亿电气技术股份有限公司（以下简称"公司"或"本公司"）于 2025 年 4 月 18 日召开第三届董事会第三十四次会议，审议通过《关于公司及子 公司 2025 年度银行综合授信暨担保额度预计的议案》，并于 2025 年 5 月 12 日召 开 2024 年度股东会审议通过上述议案，同意 2025 年公司及子公司拟向银行申请 综合授信额度合计不超过人民币 51 亿元,同意公司在 2025 年度拟为全资子公司上 海卡倍亿新能源科技有限公司、本溪卡倍亿电气技术有限公司（以下简称"本溪 卡倍亿"）、成都卡倍亿汽车电子技术有限公司、惠州卡倍亿电气技术有限公司、 湖北卡倍亿电气技术有限公司、上海卡倍亿智联线缆科技有限公司的授信额度提 供不超过人民币 15 亿元的担保额度。具体内容详见 2025 年 4 月 21 日、2025 年 5 月 12 日在巨潮资讯 ...

Group 1 - The company has established a subsidiary, Shanghai Kabeiyi Aerospace Technology Co., Ltd., in December 2025 to explore commercial aerospace-related businesses [2] - Currently, the subsidiary has not yet produced any aerospace copper cable products [2] - Investors are advised to be cautious about secondary market trading risks and to make rational investment decisions [2]

每经AI快讯，有投资者在投资者互动平台提问：请问公司是否已经给商业航天相关公司供货了？ （文章来源：每日经济新闻） 卡倍亿（300863.SZ）1月30日在投资者互动平台表示，公司已设立子公司上海卡倍亿航天科技有限公 司，目前公司尚未给商业航天相关公司供货。敬请广大投资者注意二级市场交易风险，理性决策，审慎 投资。 ...

Group 1 - Tianqi Co., Ltd. and Baida Precision Engineering reached the daily limit increase in stock price [1] - Oke Yi saw a stock price increase of over 10% [1] - Huayi Technology, Kaibei Yi, and Green Harmony also experienced stock price increases [1]