震裕科技（300953）：公司信息更新报告：2025业绩预告超预期，机器人业务进展顺利

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Insights - The company has exceeded expectations for its 2025 performance forecast, with projected net profit growth of 97%-117% year-on-year, reaching between 500 million to 550 million yuan. The revenue is expected to be between 9.3 billion to 10.3 billion yuan, reflecting a year-on-year increase of 30.46%-44.49% [6] - The company is entering a new phase of simultaneous volume and profit growth, driven by strong demand in downstream sectors such as energy storage and increased automation line utilization [6] - The company maintains its profit forecast for 2025-2027, with expected net profits of 508 million, 1.008 billion, and 1.399 billion yuan respectively, corresponding to PE ratios of 54.1, 27.3, and 19.6 times [6] Financial Performance Summary - The company reported a significant recovery in profitability, with the lithium battery structural components benefiting from increased demand in energy storage and new energy vehicles, alongside improved production automation and cost management [7] - The electric motor core business is expected to see continued profit growth, while the precision mold segment remains a stable source of profit with a gross margin consistently above 50% [7] - The financial summary indicates a projected revenue increase from 6.019 billion yuan in 2023 to 17.777 billion yuan in 2027, with net profit expected to rise from 43 million yuan to 1.399 billion yuan over the same period [9][12] Robotics Business Development - The company is positioning itself as a comprehensive service provider for robotics hardware, with a product line that has rapidly evolved to include key components such as linear actuators and bionic arms [8] - Plans are in place to establish a fully automated production line for planetary roller screws by the end of 2025, with simultaneous development of a facility in Mexico [8] - The company has achieved comprehensive coverage with its leading robotics clients, facilitating mass supply, sample delivery, and technical exchanges, which positions it well to benefit from the accelerated industrialization of humanoid robots [8]