研报掘金丨华鑫证券：维持模塑科技“买入”评级，开辟人形机器人轻量化新市场

Core Viewpoint - Moulding Technology is a leading company in automotive bumpers, expanding into the lightweight humanoid robot market, and has established deep ties with major North American clients, becoming a key supplier of injection-molded parts [1] Group 1: Business Performance - The company has secured orders from prominent brands such as Tesla, BMW, Beijing Benz, SAIC Audi, NIO, Xpeng, Li Auto, Zhiji, Geely, Seres, and BYD [1] - With the increase in orders from North American clients, the company is projected to achieve a net profit of 363 million yuan in 2024, representing a significant year-on-year growth of 190.42% [1] Group 2: Market Expansion - The company is leveraging its long-term experience in automotive plastic parts to actively explore emerging fields such as humanoid robots [1] - The company has signed a procurement framework agreement with a domestic robotics company and received small batch orders for external cover parts [1] Group 3: Future Outlook - The stable development of the company's main business in automotive bumpers, along with frequent project allocations from top clients, is expected to drive steady growth in performance [1] - The trust built through long-term cooperation with clients is anticipated to facilitate rapid growth in the humanoid robot business [1]