Ge Long Hui·2026-01-19 06:25Core Viewpoint - The report from Founder Securities highlights the accelerated globalization strategy of Xinquan Co., Ltd., with a focus on robotics as a new growth curve for the company [1] Group 1: Company Overview - Xinquan Co., Ltd. has a comprehensive product matrix for automotive interior and exterior assemblies, including instrument panel assemblies, door panel assemblies, interior accessories, and bumper assemblies [1] - The instrument panel assembly is projected to contribute 4.36 billion yuan in revenue during the first half of 2025, accounting for 64.4% of total revenue, making it the company's primary product [1] Group 2: Globalization Strategy - The company is accelerating its globalization strategy and expanding production capacity, with overseas markets expected to become a new growth point [1] Group 3: Robotics Development - With Tesla's Optimus set to enter mass production, both domestic and international humanoid robots are anticipated to experience rapid development [1] - On October 30, the company announced an investment of 100 million yuan to establish a wholly-owned subsidiary, Changzhou Xinquan Intelligent Robotics Co., Ltd., to expedite its entry into the robotics sector [1] - The subsidiary was officially established on December 9 and will focus on the research, design, manufacturing, and sales of components related to intelligent robots [1] - The company is currently advancing the mass production of robotic components such as harmonic reducers, actuator modules, and specialized bearings for robot reducers, which are expected to contribute to new growth elasticity in the future [1] Group 4: Investment Rating - The report maintains a "recommend" rating for the company [1]