Core Viewpoint - The specialized equipment sector experienced a rise of 1.39% on December 19, with Keg Precision Machinery leading the gains, while the Shanghai Composite Index and Shenzhen Component Index also saw increases of 0.36% and 0.66% respectively [1] Group 1: Market Performance - The closing price of Keg Precision Machinery was 72.56, reflecting a significant increase of 11.29% with a trading volume of 73,400 shares [1] - Zhongyou Technology and China First Heavy Industries also showed strong performance, with increases of 10.94% and 10.06% respectively [1] - The overall trading volume in the specialized equipment sector was substantial, with notable transactions in companies like Aerospace Engineering and Yangtian Co., which rose by 10.01% and 9.99% respectively [1] Group 2: Capital Flow - The specialized equipment sector saw a net inflow of 466 million yuan from institutional investors, while retail investors contributed a net inflow of 153 million yuan [2] - Notably, Aerospace Engineering attracted a significant net inflow of 377 million yuan from institutional investors, despite a net outflow from retail investors [2] - China First Heavy Industries also experienced a net inflow of 338 million yuan from institutional investors, indicating strong institutional interest [2]

国信证券股份有限公司 关于东莞市凯格精机股份有限公司 2025 年度持续督导现场检查报告 | 保荐人名称：国信证券股份有限公司 被保荐公司简称：凯格精机 | | | | | --- | --- | --- | --- | | 保荐代表人姓名：付爱春 联系电话：0755-28032222 | | | | | 保荐代表人姓名：朱锦峰 联系电话：0755-28032222 | | | | | 现场检查人员姓名：付爱春 | | | | | 现场检查对应期间：2025 年 1 月 1 12 月 31 日 | 日-2025 | 年 | | | 年 月 日 现场检查时间：2025 12 12 | | | | | 一、现场检查事项 现场检查意见 | | | | | （一）公司治理 是 否 不适用 | | | | | 现场检查手段： | | | | | 查阅公司现行制度及三会文件；向相关人员了解公司制度文件的执行情况，了解 | | | | | 公司董事、监事和高级管理人员履行职务勤勉尽责情况及变动情况；了解公司与 | | | | | 关联企业在人员、资产、财务、机构、业务等方面是否存在影响独立性的情形； | | | | | 了 ...

证券日报网讯 12月15日，凯格精机在互动平台回答投资者提问时表示，截至2025年12月10日公司股东 户数为11761户。 （文章来源：证券日报） ...

Group 1 - The company, Kaige Precision Machinery, is closely monitoring the development and application of Co-Packaged Optics (CPO) related businesses [2] - The company will continue to focus on its core business of precision automation equipment [2] - The company plans to enhance its technology research and development in new fields, leveraging market developments and its own advantages [2] Group 2 - The company aims to actively recruit industry professionals to improve its new product development capabilities [2]

证券代码：301338 证券简称：凯格精机 公告编号：2025-058 东莞市凯格精机股份有限公司 关于控股股东、实际控制人的一致行动人减持股份 触及 1%整数倍的提示性公告 公司控股股东、实际控制人的一致行动人东莞市凯创投资顾问中心（有限合 伙）、东莞市凯林投资顾问中心（有限合伙）保证向本公司提供的信息内容真实、 准确、完整，没有虚假记载、误导性陈述或重大遗漏。 | | | 于 | 2025 | 年 | 8 | 月 | | | 在 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 本次变动是否为履行已作出的承诺、意 | | | | | | （http://www.cninfo.com.cn）披露的《关于控股股东、实际 | | | | | | | | | 向、计划 | | | | | | 控制人之一致行动人减持股份预披露的公告》（公告编号： | | | | | | | | | | | | | | | 2025-031）。本次减持情况与此前已披露的减持计划一致， | ...

| 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交金额 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | | 2025-12-09 | 301338 | 凯格精机 | 60.70 | 3.30 | | 200.31 机构专用 | 国信证券股份有限 | | | | | | | | | 公司深圳红岭中路 | | | | | | | | | 证券营业部 | | 2025-12-09 | 301338 | 凯格精机 | 60.70 | 4.80 | 291.36 | 国泰海通证券股份 | 国信证券股份有限 | | | | | | | | 有限公司深圳红荔 | 公司深圳红岭中路 | | | | | | | | 西路证券营业部 | 证券营业部 | | 2025-12-09 | 301338 | 凯格精机 | 60.70 | 3.50 | | 212.45 机构专用 | 国信证券股份有限 | | | | | | | | | 公司深圳红岭中路 | ...

| 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交全额 | 买方营 部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | | 2025-12-03 | 301338 | 凯格精机 | 60.00 | 4.80 | 288.00 | 招商证券股份有限 | 国信证券股份有限 | | | | | | | | 公司西安北大街证 | 公司深圳红岭中路 | | | | | | | | 券营业部 | 证券营业部 | | 2025-12-03 | 301338 | 凯格精机 | 60.00 | 3.40 | 204.00 | 国信证券股份有限 | 国信证券股份有限 | | | | | | | | 公司深圳泰然九路 | 公司深圳红岭中路 | | | | | | | | 证券营业部 | 证券营业部 | | 2025-12-03 | 301338 | 凯格精机 | 60.00 | 7.20 | | 432.00 申万宏源西部证券 | 国信证券股份有限 | | | | ...

Group 1: Core Insights - The report emphasizes that the AI wave is initiating a new cycle in intelligent manufacturing, shifting the investment focus from cyclical fluctuations to "new hard-core" assets that can define the future and support the AI trend [8][9]. - Human-shaped robots are highlighted as the ultimate embodiment of AI intelligence, expected to revolutionize labor liberation and serve as a universal platform for AI interaction with the physical world [9][10]. - The report identifies solid-state batteries as a key technology that will unlock performance ceilings for human-shaped robots and electric vehicles due to their high energy density and safety [9][10]. Group 2: Human-Shaped Robots - The human-shaped robot industry is transitioning from concept validation to commercialization, with companies that have developed product capabilities in key components likely to experience significant valuation increases [13][17]. - The investment strategy focuses on essential hardware components rather than single manufacturers due to the uncertainty in design solutions, creating unique investment opportunities [25][28]. - Key companies to watch in this sector include Xinjie Electric, Huichuan Technology, and Weichuang Electric, which are positioned to benefit from the growth in human-shaped robots [17][30]. Group 3: AI Equipment and Materials - The demand for AI-related infrastructure is surging, leading to significant growth in high-performance servers, GPUs, and advanced PCB requirements [32][36]. - The PCB specialized equipment market is expected to grow from $3.306 billion in 2020 to $4.111 billion in 2024, with a CAGR of 5.60% in China [32][34]. - Key players in the equipment sector include Dazhu CNC and Chip Quik, which are well-positioned to capitalize on the increasing demand for advanced PCB manufacturing [36][40]. Group 4: Solid-State Batteries - The solid-state battery industry is accelerating towards commercialization, with major manufacturers like CATL and Zhongxin Innovation targeting 2027 for small-scale production [9][10]. - The global solid-state battery equipment market is projected to reach ¥107.94 billion by 2030, indicating a significant capital expenditure cycle ahead [9][10]. - Companies such as Lead Intelligent and Hai Moxing are recommended for their potential to benefit from this new capital expenditure cycle [9][10]. Group 5: Controlled Nuclear Fusion - Controlled nuclear fusion is transitioning from experimental phases to industrialization, with significant advancements in research and increased capital investment driving the industry forward [9][10]. - The report suggests focusing on companies involved in nuclear fusion projects, such as Hangyang Co. and Shanghai Electric, which are positioned to gain from this emerging sector [9][10]. - The demand for energy solutions is expected to grow, making nuclear fusion a critical area for investment as it promises to provide sustainable energy sources [9][10]. Group 6: Engineering Machinery - The domestic engineering machinery market is recovering, with excavator sales showing a positive trend, while overseas demand is also increasing due to factors like housing construction and manufacturing sector recovery [6][9]. - Major projects in China, such as the Yaxi Water Conservancy Project and the Xinjiang-Tibet Railway, are expected to boost domestic machinery demand [6][9]. - Key companies in this sector include Sany Heavy Industry, XCMG, and Zoomlion, which are anticipated to benefit from both domestic recovery and international expansion [6][9].

Company Overview - The company, Keg Precision Machinery (301338), focuses on the research, production, sales, and technical support services of automated precision equipment [10] - The company has established itself as a national high-tech enterprise and has received accolades such as the National Manufacturing Single Champion and "Specialized, Refined, and Innovative" Small Giant Enterprise [3] Business Performance - For the first three quarters of 2025, the company reported a main revenue of 775 million yuan, a year-on-year increase of 34.21%, and a net profit attributable to shareholders of 121 million yuan, up 175.35% year-on-year [10] - In Q3 2025 alone, the company achieved a main revenue of 321 million yuan, reflecting a 47.4% year-on-year growth, and a net profit of 54.11 million yuan, which is a 227.15% increase year-on-year [10] Market Trends - The demand for electronic assembly equipment in the downstream electronic manufacturing industry is influenced by several factors, including the expansion of artificial intelligence investments, a recovery in consumer electronics, and the increasing penetration of electric vehicles [5] - The global infrastructure investment is accelerating, leading to strong growth in the server market, which in turn boosts the demand for electronic assembly equipment [5] Competitive Advantages - The company emphasizes technological innovation as the cornerstone of sustainable development, with a focus on high-tech and monopolistic products [3] - The company has a competitive edge in its solder paste printing equipment, which has reached or surpassed the level of top international manufacturers, and its die bonding equipment is well-suited for the trend of chip miniaturization [3] International Expansion - The company has been focusing on overseas markets since 2007, registering trademarks in over 70 countries and regions, and selling products in more than 50 countries [7][8] - The company has established a global marketing network and technical support system, with service points in key overseas markets such as Malaysia, Vietnam, India, and Mexico [8] Product Applications - The company's solder paste printing equipment, dispensing equipment, and flexible automation equipment are widely used in the electronic assembly process, particularly in PCB (Printed Circuit Board) and FPC (Flexible Printed Circuit) applications [9] - Solder paste printing equipment is crucial in the SMT (Surface Mount Technology) and COB (Chip on Board) processes, significantly impacting product yield [9]

Group 1 - The core viewpoint of the news is that Kaige Precision Machinery (SZ 301338) is engaging with investors through a scheduled meeting on November 27-28, 2025, where the company's investor relations manager will address questions from investors [1] - As of the latest report, Kaige Precision Machinery has a market capitalization of 7 billion yuan [3] - The company's revenue composition for the year 2024 is entirely from the specialized equipment manufacturing industry, accounting for 100% [2]