关于深圳市豪恩汽车电子装备股份有限公司 向特定对象发行股票申请文件的审核问询函 的回复报告 保荐人（主承销商） （深圳市罗湖区红岭中路 1012 号国信证券大厦 16-26 层） 深圳市豪恩汽车电子装备股份有限公司 审核问询函的回复 深圳证券交易所： 贵所于 2025 年 11 月 4 日出具的审核函〔2025〕020056 号《关于深圳市豪 恩汽车电子装备股份有限公司申请向特定对象发行股票的审核问询函》（简称"问 询函"）已收悉，国信证券股份有限公司作为保荐机构（主承销商），与发行人、 发行人律师、申报会计师对问询函所列问题认真进行了逐项落实，现回复如下， 请予审核。 如无特别说明，本回复报告中的简称或名词的释义与募集说明书（申报稿） 中的相同。 本回复报告的字体： | 黑体加粗 | 问询函所列问题 | | --- | --- | | 宋体 | 对问询函所列问题的回复 | | 楷体 | 对募集说明书的引用 | | 楷体加粗 | 对募集说明书的修改或者本次补充内容 | 本回复报告中若出现总计数尾与所列值和不符的情况，均为四舍五入所致。 1-2 | 问题 | 1：关于豪恩产投 4 | | --- | --- | ...

深圳市豪恩汽车电子装备股份有限公司 根据《国务院办公厅关于进一步加强资本市场中小投资者合法权益保护工作 的意见》（国办发〔2013〕110 号）、《国务院关于进一步促进资本市场健康发展 的若干意见》（国发〔2014〕17 号）、《关于加强监管防范风险推动资本市场高质 量发展的若干意见》（国发〔2024〕10 号）以及《关于首发及再融资、重大资产 重组摊薄即期回报有关事项的指导意见》（证监会公告〔2015〕31 号）等规定的 要求，为保障中小投资者利益，深圳市豪恩汽车电子装备股份有限公司（以下简 称"公司"）或"豪恩汽电"就本次向特定对象发行股票对即期回报摊薄的影响 进行了认真分析，并制定了具体的填补回报措施，相关主体对公司填补回报措施 能够得到切实履行作出了承诺。具体内容如下： 一、本次向特定对象发行股票对公司主要财务指标的影响 （一）财务指标计算主要假设和说明 以下假设仅为测算本次向特定对象发行股票对公司主要财务指标的影响，并 不代表公司对未来年度经营情况及趋势的判断，亦不构成盈利预测。投资者不应 据此进行投资决策，投资者据此进行投资决策造成损失的，公司不承担任何赔偿 责任。 （1）假设宏观经济环境、产业政 ...

Core Viewpoint - The company confirmed that its subsidiary, Haoen Robotics, is involved in the production of perception and decision-making systems, and has already achieved mass production and delivery of its perception system products [1] Group 1 - An investor inquired about media reports stating that the company's subsidiary will launch a project for one million sets of robotic perception systems by 2026 [1] - Haoen Robotics has established partnerships with multiple robotics companies for its products [1]

Core Viewpoint - The company, Haon Qidian, acknowledges delays in responding to investor inquiries due to a high volume of questions and commits to improving its response mechanism to enhance efficiency and ensure timely communication with investors [2] Group 1 - The company is adhering to regulatory requirements for information disclosure and investor communication [2] - There has been an increase in the number of inquiries from investors, leading to some delays in responses [2] - The company expresses its apologies for any inconvenience caused by these delays [2] Group 2 - The company plans to continuously optimize its response mechanism to improve efficiency [2] - The goal is to ensure that investor concerns are addressed in a timely manner [2]

Core Viewpoint - Haon Electric (301488) has confirmed through its interactive platform that its subsidiary, Haon Robotics, is involved in the production of perception and decision-making systems, which have already been mass-produced and delivered [1] Group 1 - Haon Robotics' products primarily include perception systems and decision-making systems [1] - The company has established partnerships with multiple robotics firms [1] - The perception system products have entered mass production and are being delivered [1]

Group 1 - The core viewpoint of the article is that Haon Electric (301488.SZ) has successfully launched its perception and decision-making system products through its subsidiary, Haon Robotics, and has established partnerships with multiple robotics companies [1] - The perception system products have already entered mass production and have been delivered [1]

Investment Rating - The report maintains a "Recommended" rating for the humanoid robot industry, indicating that the industry index is expected to outperform the benchmark index by more than 10% [24]. Core Insights - The humanoid robot concept index increased by 1.41% from November 30 to December 5, 2025, outperforming the CSI 300 index by 0.13 percentage points. Year-to-date, the humanoid robot index has risen by 67.72%, surpassing the CSI 300 index by 47.72 percentage points [2][10]. - Key companies in the humanoid robot sector are making significant advancements, with notable increases in stock performance for companies like Junya Technology (+33.73%) and declines for companies like Haon Electric (-10.11%) [2][14]. Weekly Market Review - The humanoid robot index showed a weekly increase of 1.41%, with a year-to-date increase of 67.72%, significantly outperforming the CSI 300 index [10]. - Junya Technology had the highest weekly gain among related stocks, while Haon Electric experienced the largest decline [14]. Weekly Hotspots Review Policy Developments - Beijing has announced plans for a robot innovation park aiming to become a global hub by 2035, focusing on various functional bases including a humanoid robot training base [3][17]. - The Hubei Provincial State-owned Assets Supervision and Administration Commission is enhancing capital operations to accelerate the transformation of state-owned enterprises, with a focus on emerging industries like humanoid robots [3][18]. Product and Technology Iteration - Midea Group has officially announced its ultra-humanoid robot, focusing on extreme performance in complex scenarios [3][18]. - The Trump administration is shifting focus towards the robot industry, with plans for an executive order next year [5][19]. - The T800 humanoid robot by Zhongqing has been launched, priced starting at 180,000 yuan, designed for both industrial and commercial applications [3][19]. Investment and Financing - UniX AI has completed two rounds of financing totaling 300 million yuan, indicating strong market interest in its integrated intelligent solutions [3][20]. Key Company Announcements - Buke Co. has initiated a systematic research and development layout focusing on core components like joint modules, utilizing GaN technology for lightweight and precise designs [4][21]. - Hongwei Technology has developed GaN products for joint drive systems in humanoid robots, currently in the sampling phase [4][21]. - Macro Construction is set to release its next-generation bipedal humanoid robot next year, targeting North American competitors [4][22]. - Lichung Group has signed a technical agreement for the processing of humanoid robot components, enhancing its capabilities in lightweight materials [4][22].

Group 1 - The Nvidia concept sector led the decline, falling by 1.68% [1] - Among the companies, Jingwang Electronics dropped by 4.22% [1] - Hongxin Electronics decreased by 3.34% [1] - Haon Automotive Electric fell by 3.32% [1] - Other companies such as Maijie Technology, Shenghong Technology, and Danghong Technology experienced declines of over 2% [1]

Group 1 - The core viewpoint of the article emphasizes the critical role of tactile sensors in the industrial application of humanoid robots, marking a shift from mere demonstration to practical functionality in real-world environments [2][3][12] - The market for humanoid robots is experiencing renewed interest, with significant stock price increases for companies involved in this sector, indicating a revaluation of the industry's potential [1][3] - The development of tactile sensors is identified as a major bottleneck in the industry, with existing technologies facing challenges in durability, calibration, and cost, which hampers large-scale production [4][6][11] Group 2 - The article outlines three main technical routes for tactile sensors: resistive, capacitive, and piezoelectric/visual tactile, with the resistive route being the most feasible for industrial application due to its simplicity and cost-effectiveness [8][9] - The competition in the industry is shifting from technological prowess to supply chain efficiency, with companies needing to ensure high yield rates, cost control, and stable supply to succeed [10][11] - The global market for humanoid robot tactile sensors is projected to reach $756 million by 2030, highlighting the significant potential for growth in this sector [11] Group 3 - The article concludes that the transition of tactile sensors from laboratory prototypes to industrial components is crucial for the commercialization of humanoid robots, emphasizing the importance of engineering capabilities over flashy technology [12][13] - The next five years will see competition extend beyond algorithms and models to the foundational structures of global supply chains, determining the future landscape of the humanoid robot industry [13]

Group 1 - The humanoid robot concept experienced a surge followed by a pullback, but has regained strength, indicating a volatile yet promising market trend [2] - Companies such as Hengda reached the daily limit increase, while Sanhua Intelligent Control rose over 7%, showcasing strong investor interest in the sector [2] - Other companies like Anpeilong, Haon Qidian, Zhejiang Rongtai, and Wuzhou Xinchun also saw gains, reflecting a broader positive sentiment in the humanoid robotics industry [2]