Xin Lang Cai Jing·2025-08-31 04:42Group 1 - The company reported a revenue of 1.224 billion yuan for H1 2025, a year-on-year increase of 15.44%, and a net profit attributable to shareholders of 105 million yuan, a slight increase of 1.38% year-on-year, indicating that overall performance met expectations [1] - The automotive parts business maintained stable growth, while the humanoid robot business, including harmonic reducers and dexterous hands, achieved multiple breakthroughs, gradually forming a dual-driven development model of "automotive + robotics" [1] - The company maintains its profit forecast, expecting net profits attributable to shareholders to be 401 million, 603 million, and 761 million yuan for 2025-2027, corresponding to current price-earnings ratios of 31.8, 23.9, and 18.0 times, respectively, and maintains a "buy" rating [1] Group 2 - In the EGR business segment, revenue reached 451 million yuan in H1 2025, a year-on-year increase of 27.44%, benefiting from the trend of hybridization in oil vehicles, with increased market share in passenger vehicles and breakthroughs in the commercial vehicle market [2] - The new energy business generated revenue of 484 million yuan, a year-on-year increase of 6.05%, with significant advancements in welding technology for thin materials and successful project acquisitions, indicating strong growth momentum [2] - The precision automotive parts segment achieved revenue of 287 million yuan, a year-on-year increase of 19.61%, with 50 small assembly projects accumulated in the first half of the year, indicating a steady release of performance as new project orders continue to be delivered [2] Group 3 - The humanoid robot business is steadily advancing, focusing on breakthroughs in core components such as dexterous hand assemblies, harmonic reducers, and joint modules [3] - The company has successfully developed a compact and lightweight harmonic reducer, reducing weight by 30%-40% compared to traditional products, and is expected to achieve a production capacity of 70,000 harmonic reducers by Q1 2026 [3] - The dexterous hand products are continuously iterating, with plans to form three product lines: military-grade, industrial-grade, and consumer-grade, alongside a strategic investment in a technology company to enhance sensor technology [3]