铁流股份（603926）：中小盘信息更新：设立子公司全面进军具身智能，深度合作哈特研究院

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has established a wholly-owned subsidiary "Jilfu Intelligent Robot" with a registered capital of 100 million yuan, focusing on the manufacturing and research of service consumer robots and key components for intelligent robots [5] - The company is restructuring its organization by adding a "Embodied Intelligence Division" to enhance its capabilities in the embodied intelligence industry, collaborating closely with the Hart Research Institute [5] - The company maintains its profit forecast, expecting net profits attributable to the parent company to be 129 million, 164 million, and 207 million yuan for the years 2025-2027, with corresponding EPS of 0.55, 0.70, and 0.88 yuan per share [5] Financial Summary - The total market capitalization of the company is 37.53 billion yuan, with a circulating market capitalization of 36.91 billion yuan [1] - The company's revenue is projected to grow from 2,601 million yuan in 2025 to 3,396 million yuan in 2027, reflecting a year-on-year growth of 8.3% and 15.5% respectively [8] - The gross profit margin is expected to increase from 17.8% in 2025 to 18.7% in 2027, while the net profit margin is projected to rise from 4.9% to 6.1% over the same period [12]