力星股份（300421）：与浙江荣泰强强联合，加码机器人丝杆滚动体

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [2] Core Views - The company has signed a strategic cooperation agreement with Zhejiang Rongtai to collaborate in the field of industrial robot screw rod components, aiming to create a win-win and sustainable partnership [8] - The company is a leading manufacturer in the rolling body industry and is actively expanding into high-end products such as ceramic rolling bodies, with significant potential for domestic substitution [8] - The company is expected to achieve steady growth in performance, with projected net profits of 90 million, 131 million, and 175 million yuan for 2025, 2026, and 2027 respectively, corresponding to PE ratios of 78.8, 54.0, and 40.3 [8] Financial Performance Summary - Revenue is projected to grow from 1,002 million yuan in 2023 to 1,718 million yuan in 2027, with a compound annual growth rate (CAGR) of 24.6% [7] - Net profit is expected to increase from 60 million yuan in 2023 to 175 million yuan in 2027, with a significant growth rate of 62.1% in 2025 [7] - The company's EPS is forecasted to rise from 0.20 yuan in 2023 to 0.59 yuan in 2027 [7] Strategic Developments - The partnership with Zhejiang Rongtai will leverage both companies' strengths in the robot screw rod field, enhancing the supply of rolling bodies and ensuring resource optimization [8] - The company is also investing in the embodied intelligence sector, with initiatives such as the establishment of Shanghai Xinqi Robot and a joint venture with Shanghai Jiyou, focusing on the upstream and downstream supply chain of new energy vehicles and robots [8]