HXG(SH:603112) Xin Lang Cai Jing·2026-02-09 00:28Event Overview - On February 6, 2026, the company announced a revised plan for issuing convertible bonds to unspecified investors, with a total fundraising amount not exceeding RMB 1.30102 billion (including principal) [1] Fundraising Purpose - The raised funds will be used for enhancing core component production capacity, extending the industrial chain, and supplementing working capital. The total investment for the core component capacity enhancement and industrial chain extension project is RMB 1.16 billion, with RMB 1.06 billion planned to be funded from the raised capital. Investments in smart home, automotive, and construction machinery sectors are planned at RMB 512 million, RMB 432 million, and RMB 113 million respectively. An additional RMB 240 million will be allocated for working capital and debt repayment to meet the company's rapid development needs [3] Production Capacity Enhancement - The company aims to improve product added value by introducing automated AI visual inspection equipment to reduce costs and increase efficiency. The smart home component capacity enhancement project will expand the production scale of smart home components, covering the entire process from casting to precision machining, thereby increasing the added value of smart home components. The automotive component capacity enhancement project will extend the industrial chain to machining processes. Both projects will introduce automated AI visual inspection equipment to reduce reliance on inspection personnel, enhance inspection efficiency and accuracy, and minimize internal and external waste [3] New Production Line - The first production line for humanoid robot precision components at the Guangdong Shunde factory has completed the installation and debugging of all high-precision core equipment and has achieved stable production. This successful launch focuses on the manufacturing of high-precision and complex components such as joint modules and core structural parts of reducers, establishing a top-tier precision processing capability cluster. The project has invested in and integrated multiple international top-tier multi-axis precision machining centers, ultra-precision grinding equipment, ultra-precision turning centers, micron-level wire cutting machines, and special material additive manufacturing systems [4] Financial Forecast - The company maintains its profit forecast, expecting revenues of RMB 4.2 billion, RMB 5.0 billion, and RMB 5.8 billion for 2025-2027, with net profits attributable to shareholders of RMB 580 million, RMB 720 million, and RMB 850 million respectively. Corresponding EPS is projected to be RMB 1.07, RMB 1.34, and RMB 1.57, with a PE ratio of 15, 12, and 10 times based on the closing price of RMB 17.17 on February 6, 2026, maintaining a "buy" rating [5]