Ge Long Hui A P P·2025-09-26 05:49Core Viewpoint - Hanwei Technology holds the leading market share in domestic gas sensors, with flexible sensors opening up growth opportunities [1] Group 1: Market Position and Product Focus - The company focuses on its core business, with high-margin sensors and smart instruments continuously increasing their revenue share [1] - Hanwei Technology consolidates its existing advantages in gas sensors while actively advancing its layout in optoelectronic and flexible sensors, being one of the earliest companies in China to engage in flexible sensor R&D [1] - The company has a globally leading capability in the industrialization of flexible sensors [1] Group 2: Performance and Growth Potential - The main business is experiencing a performance inflection point, with improved profitability [1] - The humanoid robot segment is entering an expansion phase, with electronic skin being a key component for achieving "embodied intelligence" [1] - The company has established a multi-dimensional product matrix covering "touch - balance - force control - smell" in the field of embodied intelligence [1] Group 3: Investment Rating - The report initiates coverage with an "Accumulate" rating [1]