Xinyichang(SH:688383) NORTHEAST SECURITIES·2025-10-13 09:31Investment Rating - The report assigns a "Buy" rating for the company, indicating a strong potential for stock price appreciation in the next six months [5]. Core Insights - The company has launched the HOSON-Robot, a humanoid robot that leverages its expertise in semiconductor high-end equipment manufacturing and motion control technology, marking a significant step towards a second growth curve in embodied intelligence [1][3]. - The HOSON-Robot features a hybrid intelligent architecture that balances learning efficiency with safety and control, allowing it to switch between end-to-end and layered models based on the operational context [3]. - The company is expected to achieve net profits of 0.41 billion, 1.43 billion, and 2.37 billion yuan for the years 2025, 2026, and 2027, respectively, with corresponding price-to-earnings ratios of 175, 50, and 30 times [3]. Financial Summary - The company's projected revenue for 2025 is 1.01 billion yuan, with a growth rate of 8.52% compared to the previous year [4]. - The net profit for 2025 is estimated at 0.41 billion yuan, reflecting a slight increase of 1.47% from 2024 [4]. - The earnings per share (EPS) is forecasted to be 0.40 yuan in 2025, with a significant increase to 1.40 yuan by 2026 [4]. - The company’s total market capitalization is approximately 7.16 billion yuan, with a closing price of 70.15 yuan as of October 13, 2025 [5].