【机构调研记录】诺德基金调研立讯精密、世纪华通
Sou Hu Cai Jing·2025-11-27 00:15

Group 1: Luxshare Precision Industry Co., Ltd. - The company has developed core capabilities across the entire industry 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] - Luxshare has a well-established automotive business with a rich product matrix, including high and low voltage wiring harnesses, high-speed wiring harnesses, special wiring harnesses, and fast-charging charging guns, all of which have shown good development momentum globally [1] - The company's office is located at No. 313, Beihuan Road, Qingxi Town, Dongguan City, Guangdong Province [1] Group 2: Century Huatong - The games launched in 2023 are still reaching new highs, with no observed peak in their lifecycle; Kingshot is breaking overseas records previously set by Whiteout Survival, indicating a larger overseas market with more users [2] - The company has tested multiple products at high speed and low cost, releasing no fewer than 20 products since 2023, with blockbuster hits driven by data [2] - The overseas market has a user overlap of approximately 20%, and the increase in R&D expenses is due to the expansion of the team, with minimal impact from currency conversion [2] - The adjustment in mini-program commission rates is expected to impact the company's revenue by about 2 percentage points but is beneficial for improving user retention and payment rates [2] Group 3: Nord Fund - Established in 2006, the fund has an asset management scale of 34.211 billion yuan for all public funds, ranking 95th out of 211 [2] - The asset management scale for non-monetary public funds is 27.333 billion yuan, ranking 94th out of 211 [2] - The fund manages 61 public funds, ranking 96th out of 211, with 18 public fund managers, ranking 76th out of 211 [2] - The best-performing public fund product in the past year is Nord New Life Mixed A, with a latest unit net value of 2.02 and a growth of 107.52% over the past year [2]