民生证券给予爱柯迪“推荐”评级，系列点评八：2025Q3业绩符合预期全球化+机器人齐驱

Group 1 - The core viewpoint of the report is that Minsheng Securities has given a "recommended" rating to Aikodi (600933.SH) based on several positive indicators [1] - The company's performance in Q3 2025 is expected to meet forecasts, with a continuous recovery in gross profit margin [1] - Aikodi is strategically expanding its robotics business through both internal growth and external acquisitions, indicating strong growth potential [1] - The introduction of an equity incentive plan is seen as a measure to ensure the company's long-term development [1] Group 2 - The report highlights potential risks, including lower-than-expected passenger car sales and slower progress in the robotics business [1]