研报掘金丨长江证券：浙江荣泰主业稳健增长 机器人业务扬帆起航

Core Viewpoint - Zhejiang Rongtai's net profit attributable to shareholders reached 200 million yuan in the first three quarters of 2025, representing a year-on-year increase of 22.0% [1] - The company is expected to maintain stable growth in its main business as the impact of tariff policies gradually diminishes [1] Financial Performance - In Q3 2025, the net profit attributable to shareholders was 80 million yuan, showing a year-on-year increase of 21.8% and a quarter-on-quarter increase of 25.0% [1] Business Outlook - The company is actively communicating with major clients regarding new business opportunities, with product technology and performance meeting client requirements, which may lead to a significant market share in the future [1] - The company is also developing other components in response to client demand, indicating potential expansion in various product categories [1] Production Capacity - The production capacity in Thailand is set to continue, with adjustments made based on actual conditions [1] - The robotics business is on the verge of mass production, presenting significant future growth potential [1]