Core Viewpoint - The report from China Merchants Securities indicates that Zhenyu Technology's niche mold business is steadily increasing, and the new products in the iron core segment are beginning to ramp up, which is expected to restore good growth rates [1] Group 1: Business Segments - The structural components business, which has the largest revenue share, is expected to reverse as anticipated and maintain an accelerated growth trend [1] - The robotics segment, which the company is actively cultivating, is progressing well in the domestic market, with potential breakthroughs in the overseas major client system [1] Group 2: Financial Projections - The company is estimated to achieve a net profit attributable to shareholders of 958 million yuan by 2026, maintaining an "overweight" investment rating [1]

证券日报网讯 1月19日，震裕科技在互动平台回答投资者提问时表示，截至2026年1月9日收盘，公司股 东人数为21681户。 （文章来源：证券日报） ...

Core Viewpoint - The company is expected to enter a new phase of simultaneous growth in volume and profit, with significant increases in net profit and revenue projected for 2025 [1] Group 1: Financial Performance - The company forecasts a net profit attributable to shareholders of 500-550 million yuan for 2025, representing a year-on-year increase of 96.89%-116.58% [1] - The non-recurring net profit is expected to be 480-530 million yuan, showing a substantial year-on-year growth of 107.66%-129.30% [1] - Revenue is projected to reach 9.3-10.3 billion yuan, reflecting a year-on-year growth of 30.46%-44.49% [1] Group 2: Business Segments - Lithium battery structural components are benefiting from strong demand in energy storage and new energy vehicles, alongside improved production automation and cost management, leading to ongoing profit contributions [2] - The motor iron core segment is expected to enhance profitability by reducing reliance on a single major customer, with a steady increase in market share for high-margin adhesive iron cores [2] - Precision molds remain a stable profit source with a consistent gross margin above 50%, providing a solid foundation for the company's precision manufacturing system [2] Group 3: Robotics Development - The company positions itself as a comprehensive service provider for robotic hardware, with a product line that has rapidly evolved to include key components such as linear actuators and bionic arms [3] - Plans are in place to establish a fully automated production line for planetary roller screws by the end of 2025, with simultaneous development of a facility in Mexico [3] - The company has achieved comprehensive coverage with leading humanoid robot clients, including bulk supply, sample delivery, and technical exchanges, positioning itself to benefit from the accelerated industrialization of humanoid robots [3]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Insights - The company has exceeded expectations for its 2025 performance forecast, with projected net profit growth of 97%-117% year-on-year, reaching between 500 million to 550 million yuan. The revenue is expected to be between 9.3 billion to 10.3 billion yuan, reflecting a year-on-year increase of 30.46%-44.49% [6] - The company is entering a new phase of simultaneous volume and profit growth, driven by strong demand in downstream sectors such as energy storage and increased automation line utilization [6] - The company maintains its profit forecast for 2025-2027, with expected net profits of 508 million, 1.008 billion, and 1.399 billion yuan respectively, corresponding to PE ratios of 54.1, 27.3, and 19.6 times [6] Financial Performance Summary - The company reported a significant recovery in profitability, with the lithium battery structural components benefiting from increased demand in energy storage and new energy vehicles, alongside improved production automation and cost management [7] - The electric motor core business is expected to see continued profit growth, while the precision mold segment remains a stable source of profit with a gross margin consistently above 50% [7] - The financial summary indicates a projected revenue increase from 6.019 billion yuan in 2023 to 17.777 billion yuan in 2027, with net profit expected to rise from 43 million yuan to 1.399 billion yuan over the same period [9][12] Robotics Business Development - The company is positioning itself as a comprehensive service provider for robotics hardware, with a product line that has rapidly evolved to include key components such as linear actuators and bionic arms [8] - Plans are in place to establish a fully automated production line for planetary roller screws by the end of 2025, with simultaneous development of a facility in Mexico [8] - The company has achieved comprehensive coverage with its leading robotics clients, facilitating mass supply, sample delivery, and technical exchanges, which positions it well to benefit from the accelerated industrialization of humanoid robots [8]

国联民生证券承销保荐有限公司 关于宁波震裕科技股份有限公司 2025 年年度持续督导培训情况的报告 深圳证券交易所： 国联民生证券承销保荐有限公司（以下简称"国联民生承销保荐"或"保荐 机构"）作为宁波震裕科技股份有限公司（以下简称"震裕科技"或"公司"）持 续督导工作的保荐机构，根据深圳证券交易所上市公司自律监管指引第 13 号— —保荐业务》（以下简称《自律监管指引第 13 号》）、《深圳证券交易所创业板股 票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号-创业板上市公司规 范运作》（以下简称"《规范运作指引》"）等相关规定，对震裕科技进行了 2025 年年度持续督导培训，报告如下： 一、本次持续督导培训的基本情况 （一）保荐机构：国联民生证券承销保荐有限公司 （二）培训时间：2026 年 1 月 8 日 （三）培训地点：浙江省宁波市宁海县力洋镇创业路 39 号（震裕科技大厦） （四）培训对象：公司董事、高级管理人员、董事会办公室与财务部相关人 员通过现场和远程视频相结合的方式进行了培训 （五）培训内容：本次培训对上市公司合规运作与违规案例进行了讲解。 二、上市公司的配合情况 保荐机构本次持续督 ...

1.是否在募集资金到位后一个月内签订 三方监管协议 √ 2.募集资金三方监管协议是否有效执行 √ 3.募集资金是否不存在第三方占用或违 规进行委托理财等情形 √ | 4.是否不存在未履行审议程序擅自变更 √ | | | --- | --- | | 募集资金用途、暂时补充流动资金、置 | | | 换预先投入、改变实施地点等情形 | | | 5.使用闲置募集资金暂时补充流动资 | | | 金、将募集资金投向变更为永久性补充 | | | 流动资金或者使用超募资金补充流动 √ | | | 资金或者偿还银行贷款的，公司是否未 | | | 在承诺期间进行风险投资 | | | | 年可转债募投 √，2023 | | | 项目"年产 亿件新 3.6 | | | 能源汽车锂电池壳体新 | | | 建项目"变更为"苏州 | | | 范斯特机械科技有限公 | | | 司新能源汽车电机铁芯 | | | 新建生产线一期子项 | | 6.募集资金使用与已披露情况是否一 | 目"，主要系：随着新 | | 致，项目进度、投资效益是否与招股说 | 能源汽车渗透率进一步 | | 明书等相符 | 提升，粘胶电机铁芯技 | | | 术被越来越多知名 ...

Core Viewpoint - The A-share market is experiencing a surge in robot concept stocks, with several companies hitting the daily limit up, driven by positive sentiment surrounding Tesla's V3 version and endorsements from notable investors [1][3]. Group 1: Stock Performance - Companies such as Henghui Anfang, Henggong Precision, and Deen Precision have all reached the daily limit up of 20% [1]. - Other notable performers include Jingzhida with a rise of over 17%, and DeMais, Slinzhidrive, and Kexiang shares increasing by over 14% [1]. - The total market capitalization of Henghui Anfang is 8.603 billion, while Henggong Precision stands at 9.863 billion [3]. Group 2: Investor Sentiment - Jason Calacanis, a well-known Silicon Valley investor, praised the V3 version of Tesla's robot, suggesting that future recognition will focus on Optimus rather than Tesla's past vehicle production [1]. - The positive feedback from influential investors is likely to bolster market confidence in robot-related stocks [1]. Group 3: Year-to-Date Performance - Henghui Anfang has a year-to-date increase of 21.97%, while Henggong Precision has risen by 9.40% [3]. - Other companies like Baive Storage and Stai Zhichui have shown significant year-to-date gains of 51.11% and 50.60%, respectively [3].

2026年1月16日，创业板新能源ETF华夏（159368）上涨1.04%，持仓股震裕科技涨超7%，迈为股份涨 超6%，新宙邦涨超2%。 4万亿聚焦新型电力系统，储能作为新能源消纳与跨区输电的调节核心，将显著受益于"沙戈荒"风光基 地、特高压配套与配网升级项目，独立储能与共享储能订单加速释放。 创业板新能源ETF华夏（159368）是全市场跟踪创业板新能源指数的规模最大ETF基金。创业板新能源 指数主要涵盖新能源和新能源汽车产业，涉及电池、光伏等多个细分领域。创业板新能源ETF华夏 （159368）高弹性，涨幅可达20cm；费率最低，管理费和托管费合计仅为0.2%；规模最大，截至2026 年1月9日，规模达6.46亿元；成交额最大，近一月日均成交6949万元。其储能+固态电池占比近90%， 契合当下市场热点。 （文章来源：每日经济新闻） 1月15日，国家电网"十五五"投资计划出炉："十五五"期间，国家电网公司固定资产投资预计达到4万亿 元，较"十四五"投资增长40%；将重点聚焦于绿色转型、构建新型电力系统、强化科技赋能等方面。其 中国家电网将优化抽蓄站点布局，支持新型储能规模化发展，提高新能源运行支撑和并网消 ...

Core Viewpoint - The announcement from the State Grid on January 15 indicates a significant increase in fixed asset investment during the "14th Five-Year Plan" period, projected to reach 4 trillion yuan, representing a 40% growth compared to the previous plan, aimed at the construction of a new power system [3]. Group 1: Stock Performance - A broad rise in electric grid equipment stocks was observed, with Wan Sheng Intelligent hitting the daily limit, and other companies like Senyuan Electric, Wind Fan Co., and Han Cable also reaching their limits [1]. - Yinen Power surged over 22%, while other companies such as Shuangjie Electric and Changgao Electric New also experienced notable increases [1]. - The electric grid equipment index rose by 4.62%, reflecting strong market sentiment [2]. Group 2: Individual Stock Highlights - Yinen Power's stock price reached 23.03 yuan, marking a 22.30% increase [2]. - Wan Sheng Intelligent's stock price was 27.65 yuan, with a 20.01% rise [2]. - Other notable performers included Hongxiang Co. with an 18.10% increase, Han Cable with a 10.10% rise, and Senyuan Electric with a 10.07% increase [2][3]. Group 3: Related Sector Movements - The "中字头" (state-owned enterprises) sector saw significant activity, with companies like China Power Construction hitting the daily limit and others such as China Energy Construction and China Communications Construction also experiencing rapid gains [3]. - The robot concept stocks were active, with Henghui Security reaching the daily limit and Henggong Precision rising over 15% [5][6].

（文章来源：证券时报网） 资金面上看，震裕科技近5日主力资金总体呈净流出状态，累计净流出2.07亿元，其中，上一交易日主 力资金全天净流出1884.33万元。 融资融券数据显示，该股最新（1月15日）两融余额11.17亿元，其中，融资余额为11.16亿元，近5日融 资余额合计减少7094.05万元，降幅为5.97%。（数据宝） 震裕科技股价出现异动，截至今日9时38分，股价大涨5.33%，成交241.52万股，成交金额4.00亿元，换 手率为1.94%，公司发布的最新业绩预告显示，预计2025年实现净利润5.00亿元—5.50亿元，净利润同 比增长96.89%—116.58%。 ...