Ge Long Hui A P P·2025-12-19 07:32Core Viewpoint - The report from Zhongyou Securities highlights Changying Precision's comprehensive layout in robotics and steady progress in the new energy sector, emphasizing the acceleration of humanoid robot production capacity and the acquisition of multiple mass production orders from domestic and international brands [1] Group 1: Humanoid Robot Production - The company plans to accelerate the construction of humanoid robot production capacity starting in 2024, developing parts from various materials such as aluminum alloy, magnesium alloy, titanium alloy, PEEK, IGUS engineering plastics, rubber, and nylon for both domestic and overseas clients [1] - As of the end of August this year, the company has delivered humanoid robot structural components valued at over 80 million yuan [1] - The number of part numbers supplied to clients in the humanoid robot business has exceeded 400, with projects expanding from dexterous hand components to larger transmission parts [1] Group 2: New Manufacturing Facilities - The Changying Precision Robotics Intelligent Manufacturing Industrial Park in Shenzhen Songgang Yanluo is expected to be operational in Q4 of this year, featuring approximately 60,000 square meters of factory space dedicated to humanoid robot-related product production [1] Group 3: New Energy Business - The new energy business is maintaining a rapid growth rate, with new projects progressing steadily [1] - The company maintains a "buy" rating based on its performance and growth prospects in both humanoid robotics and new energy sectors [1]