柯力传感（603662）：传感器业务新增并表贡献业绩，深度参与人形机器人产业布局

Investment Rating - The investment rating for the company is "Buy" and is maintained [9]. Core Insights - The company's main operations are stable, benefiting from the contribution of newly consolidated subsidiaries, with a year-on-year revenue growth of 23.40% and a net profit growth of 47.93% in the first half of 2025 [2][6]. - The company is focusing on the humanoid robot sector and has made strategic investments in several companies, including Kepler, Tashan Technology, and Wuxi Beimi Sensor, to enhance its capabilities in the robotics field [2][6]. - The company has achieved significant progress in its "sensor forest" strategy, consolidating its leading position in high-end sensor technology and industrial applications [12]. - The company has sent samples to over 50 domestic humanoid and collaborative robot enterprises, receiving market recognition and entering small batch order phases with some clients [12]. Financial Performance - In the first half of 2025, the company achieved a revenue of 685 million, a year-on-year increase of 23.40%, and a net profit of 173 million, up 47.93% [6]. - The gross profit margin for the first half of 2025 was 44.04%, an increase of 0.61 percentage points year-on-year, while the net profit margin reached 28.48%, up 4.93 percentage points year-on-year [12]. - The company expects to achieve a net profit of 360 million and 420 million in 2025 and 2026, respectively, corresponding to PE ratios of 58x and 50x [12].