灵足时代联创邵元欣：押注2026具身智能爆发，“卖铲人”冲刺30万台，剑指“机器人界英伟达”

Core Viewpoint - The company aims to become the "NVIDIA of the robotics industry," focusing on integrated joint module business and leveraging a unique ecosystem to drive growth and innovation [5][8][9]. Group 1: Company Overview - The company, Lingzu Times, has achieved significant market presence in the robotics joint module sector, with over 100,000 units shipped in 2025, covering a wide range of domestic and international clients [1][5]. - The joint modules are considered the "core motion heart" of robots, accounting for 30%-60% of the total machine cost, and the company has established a high technical barrier in this field [1][11]. Group 2: Strategic Positioning - The company adopts a "To C operating model for To B business," focusing on engineers as core users to drive product demand and ecosystem development [5][8]. - Lingzu Times plans to build an ecosystem similar to NVIDIA's, focusing on application-level layouts and supporting educational initiatives to cultivate user habits [8][19]. Group 3: Performance and Growth - In 2025, the company experienced a staggering 1328% increase in shipment volume compared to 2024, with 45% of this growth coming from the embodied intelligence sector [5][13]. - The company anticipates shipping 300,000 units in 2026, with revenue exceeding 300 million yuan, and aims to increase its market share in embodied intelligence to 63.1% [5][19]. Group 4: Market Expansion and Client Base - The company has expanded its business boundaries into various fields, including automation and consumer electronics, and has secured major clients like Geely and BYD [14][19]. - The overseas market accounted for approximately 26,000 units shipped in 2025, with high profit margins, indicating strong international demand [25]. Group 5: Competitive Advantages - The company focuses solely on joint modules, allowing for greater investment and faster decision-making compared to larger, publicly listed competitors [21][22]. - Lingzu Times has established a robust engineer ecosystem, which enhances product adoption and customer loyalty, differentiating it from traditional manufacturing companies [22][23].