【机构调研记录】海富通基金调研立讯精密、博盈特焊

Group 1: Lixun Precision - The company has developed core capabilities across the entire industrial chain in the humanoid robot sector, capable of independently completing precision machining of key components such as harmonic gears, except for batteries and some joint modules [1] - Lixun Precision has a rich product matrix in the automotive business, having established itself over many years with good development momentum globally in high and low voltage wiring harnesses, high-speed wiring harnesses, special wiring harnesses, and fast charging guns [1] - The company's office is located at 313 Beihuan Road, Qingxi Town, Dongguan City, Guangdong Province [1] Group 2: Boying Special Welding - As of September 30, 2025, the company's overseas revenue is primarily from five countries: UAE, USA, Thailand, Brazil, and Japan, with main revenue sectors including waste incineration power generation, chemicals, papermaking, coal-fired power, and gas turbines [2] - The company is expanding into gas boilers, oil and gas pipelines, and marine equipment, with the coal power sector being a stable electricity backup that drives demand for upgrades in the anti-corrosion and anti-wear industry [2] - The Vietnam base operates on an FOB model targeting the North American market, facing competition from South Korea, Thailand, and Vietnam, while the company holds advantages in qualifications, customer experience, and cost [2] - The HRSG production capacity is distributed between Vietnam and the Diao base, with the first phase of four production lines in Vietnam already operational and the second phase expected to commence production in the second quarter of next year, planning a total of 12 production lines [2] Group 3: Hai Futong Fund - Established in 2003, the company has an asset management scale of 254.547 billion yuan for all public funds, ranking 32 out of 211, and 203.999 billion yuan for non-monetary public funds, ranking 27 out of 211 [3] - The company manages 177 public funds, ranking 44 out of 211, with 32 public fund managers, ranking 41 out of 211 [3] - The best-performing public fund product in the past year is Hai Futong Electronic Media Stock A, with a latest unit net value of 3.55 and a growth of 84.89% over the past year [3] - The latest public fund product raised is Hai Futong Ruize 90-Day Holding Bond Initiation A, which is a long-term bond type, with a concentrated subscription period from October 28, 2025, to January 27, 2026 [3]