Industry Insights - The launch of the first domestically developed robot "Kua Fu" equipped with the open-source HarmonyOS marks a significant step in breaking foreign technology monopolies and accelerating the establishment of a fully autonomous and controllable robotics ecosystem [1] - The emergence of artificial intelligence companies is driving the development of general-purpose robotic models, facilitating the realization of embodied intelligence in humanoid robots [1] - The humanoid robot industry is entering a phase of diversification and competition, with a clear trend towards industrial applications both domestically and internationally [1] Company Developments - Lingyi Zhizao has provided various components such as die-cut structural parts, metal structural parts, heat dissipation modules, and soft-pack structural parts for the Figue AI robot [1] - Changying Precision has established partnerships with leading North American humanoid robot companies and has already received orders [1]

Core Insights - The company reported a revenue of 37.59 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 19.25% [1] - Net profit for the same period reached 1.941 billion yuan, with a significant year-on-year increase of 37.66% [1] - The operating cash flow for the first three quarters was 2.297 billion yuan, showing a growth of 60.19% year-on-year [1] Financial Performance - In Q3 2025, the company achieved a revenue of 13.965 billion yuan, marking a year-on-year growth of 12.91% [1] - The net profit attributable to shareholders in Q3 was 1.012 billion yuan, reflecting a substantial year-on-year increase of 39.28% [1] - The company has maintained over 10 billion yuan in quarterly revenue for five consecutive quarters and has seen double-digit year-on-year growth for seven consecutive quarters [1] Business Development - The company is a leading manufacturer of precision functional components for consumer electronics and is transitioning towards AI terminal hardware manufacturing [1] - It has developed a comprehensive product matrix covering core technology areas such as battery structural components, thermal management solutions, and fast-charging products [1] - The company is actively expanding into emerging businesses such as humanoid robots, AI glasses, foldable smartphones, and servers [1] Robotics Sector - The company has established large-scale orders in the robotics field and is providing mass production services [2] - Strategic partnerships have been formed with several leading companies in the industry, enhancing collaboration in hardware manufacturing, market expansion, and AI model development [2] - Recently, the company secured over a hundred assembly orders for complete machines from leading clients, facilitating breakthroughs in large-scale production [2] AI Glasses and XR Devices - The company has entered the core supply chain of AI glasses, achieving a revenue of 4.041 billion yuan in 2024 from this segment [3] - A significant collaboration with a leading AR company resulted in the successful assembly of the Leion Hey2AR translation glasses, which were recognized at the IASP 2025 international conference [3] AI Server Sector - The company has developed full-process service capabilities for core hardware in AI servers, focusing on AI infrastructure and applications [3] - It has become a core supplier for AMD, integrating self-developed thermal management technologies to meet high-performance design requirements [3] Power Management Solutions - The importance of power management is increasing due to rising power consumption in data center equipment and AI servers [4] - The company has developed AC/DC and DC/DC power solutions for AI servers and is actively onboarding related clients, which is expected to become a new growth point [4]

格隆汇10月29日丨领益智造(002600.SZ)公布，为进一步推动公司国际化战略落地，加强海外业务布 局，拓宽海外并购和融资渠道，提高公司国际知名度，提高公司整体竞争力，经充分研究论证，公司拟 发行H股股票并在香港联合交易所有限公司（简称"香港联交所"）主板挂牌上市。公司将充分考虑现有 股东的利益和境内外资本市场的情况，在股东会决议有效期内（即经公司股东会审议通过之日起24个月 或同意延长的其他期限）选择适当的时机和发行窗口完成本次发行上市。 ...

Core Insights - Lingyi Zhizao achieved record performance in Q3 2025, with revenue and net profit reaching historical highs since its IPO in 2018 [1] - The company reported a revenue of 37.59 billion yuan for the first three quarters of 2025, a year-on-year increase of 19.25%, and a net profit of 1.94 billion yuan, up 37.66% [1] - In Q3 alone, revenue was 13.97 billion yuan, marking a 12.91% increase year-on-year, and net profit reached 1.01 billion yuan, a significant rise of 39.28% [1] Financial Performance - For the first three quarters of 2025, the company achieved an operating cash inflow of 2.30 billion yuan, a substantial increase of 60.19% [1] - Q3 net profit attributable to shareholders was 1.01 billion yuan, with a notable growth of 39.28% year-on-year [1] - The company's non-GAAP net profit for Q3 was 999 million yuan, reflecting a remarkable increase of 60.67% [1] Strategic Developments - Lingyi Zhizao has successfully transformed into an AI terminal hardware manufacturing platform, developing a comprehensive product matrix in key technology areas such as battery components and fast-charging products [2] - The company is actively expanding into emerging businesses like humanoid robots, AI glasses, and foldable smartphones, which are driving a new growth cycle [2] - In the robotics sector, Lingyi Zhizao has secured large-scale orders and is providing mass production services to major clients [2] Server Solutions - The company has established a comprehensive service capability for AI server core hardware, focusing on cooling and power supply solutions [3] - As the power consumption of data center equipment and AI servers continues to rise, the importance of power management in server operations is increasingly recognized [3] - Lingyi Zhizao is developing AI server power solutions with high power density and efficiency, actively introducing these solutions to relevant clients [3]

格隆汇10月29日丨领益智造(002600.SZ)公布三季度报告，前三季营业收入375.9亿元，同比增长 19.25%，归属于上市公司股东的净利润19.41亿元，同比增长37.66%，归属于上市公司股东的扣除非经 常性损益的净利润15.03亿元，同比增长26.67%。 ...

Core Viewpoint - Guangdong Lingyi iTech Limited announced plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international strategy and expand overseas business operations [1] Group 1: Company Actions - The company held its 20th meeting of the 6th Board of Directors on October 28, 2025, where it approved the proposal for issuing H-shares and listing on the Hong Kong Stock Exchange [1] - The issuance and listing are subject to approval from the shareholders' meeting and regulatory bodies including the China Securities Regulatory Commission and the Hong Kong Securities and Futures Commission [1] Group 2: Strategic Goals - The primary aim of the H-share issuance and listing is to promote the company's internationalization strategy, enhance overseas business layout, and broaden channels for overseas mergers, acquisitions, and financing [1] - The company seeks to improve its international visibility and overall competitiveness through this initiative [1] Group 3: Current Status - As of now, the company is in discussions with relevant intermediaries regarding the details of the issuance and listing, with specific details such as the proportion of shares to be issued yet to be disclosed [1]

Core Viewpoint - The acquisition of Zhejiang Xianglong by Lingyi Zhizao aims to accelerate the company's expansion in the automotive industry, enhancing its position in the electric vehicle and advanced technology markets [1][3]. Group 1: Acquisition Details - Lingyi Zhizao and its wholly-owned subsidiary Lingyi Technology signed an equity acquisition agreement to purchase 96.15% of Zhejiang Xianglong for 2.404 billion yuan in cash [1]. - The transaction will not be classified as a related party transaction or a major asset restructuring [1]. - The acquisition will be executed in two phases, with 67% of the payment made upfront and the remaining linked to performance commitments from 2025 to 2027 [2]. Group 2: Financial Performance of Zhejiang Xianglong - Zhejiang Xianglong, established in 2006, specializes in the research, manufacturing, and sales of automotive drive shafts and transmission shafts, with projected revenues of 1.994 billion yuan and a net profit of 127 million yuan for 2024 [2]. - For the first half of 2025, Zhejiang Xianglong expects revenues of 969 million yuan and a net profit of 92 million yuan [2]. - The performance commitments include a minimum net profit of 175 million yuan, 200 million yuan, and 225 million yuan for the years 2025, 2026, and 2027, respectively, totaling at least 600 million yuan over three years [2]. Group 3: Strategic Implications - The acquisition will facilitate Lingyi Zhizao's transition from Tier 2 to Tier 1 in the automotive supply chain, aligning with trends in electric and intelligent vehicle development [3]. - The integration of automotive and robotics components will leverage shared technology, supply chains, and manufacturing capabilities, enhancing the company's product offerings in both sectors [3]. - This acquisition lays the groundwork for future expansions into AI terminals and humanoid robotics hardware applications [3].

36氪获悉，领益智造公告，全资子公司领益科技拟以24.04亿元现金收购VentureEquitiesManagement、宁 波嘉隆、杭州协邦、宁波隆俊持有的浙江向隆96.15%股权。交易完成后，浙江向隆将纳入公司合并报 表范围。标的公司主营汽车零部件，为国家级专精特新"小巨人"企业，客户包括多家新能源及燃油车整 车厂商。公司实施本次交易旨在加速深化在汽车产业领域的布局，完善在汽车领域的产品矩阵，进一步 丰富收入结构，实现产业的升级优化。 ...

广东领益智造股份有限公司 董事会专门委员会工作细则 广东领益智造股份有限公司 董事会专门委员会工作细则（草案） （H 股发行并上市后适用） 第一章 总则 第一条 为规范广东领益智造股份有限公司（以下简称"公司"）董事会专门委员会工作， 确保董事会专门委员会的工作效率和科学决策，健全公司的法人治理结构，根据《中华人民 共和国公司法》《中华人民共和国证券法》《上市公司治理准则》《深圳证券交易所股票上 市规则》以及《广东领益智造股份有限公司公司章程》（以下简称"《公司章程》"）、《董 事会议事规则》、《香港联合交易所有限公司证券上市规则》（以下简称"《香港上市规则》"， 香港联合交易所有限公司简称"香港联交所"）等相关规定，制定本细则。 第二条 董事会各专门委员会是董事会下设的专门委员会，对董事会负责，向董事会报 告。公司董事会专门委员会包括：战略与发展委员会、审计委员会、提名委员会、薪酬与考 核委员会。 第三条 公司董事会专门委员会委员由公司董事担任，由董事会选举产生。董事会各专 门委员会委员任期与董事会董事任期一致，委员任期届满，连选可以连任。任职期间内如有 委员不再担任公司董事职务，将自动失去委员资格，并由董 ...

广东领益智造股份有限公司 章 程（草案） （H股发行并上市后适用） 【】年【】月 | 目 | 录 | 1 | | --- | --- | --- | | 第一章 | 总则 | 3 | | 第二章 | 经营宗旨和范围 4 | | | 第三章 | 股份 | 5 | | 第一节 | 股份发行 | 5 | | 第二节 | 股份增减和回购 6 | | | 第三节 | 股份转让 | 8 | | 第四章 | 股东和股东会 | 9 | | 第一节 | 股东 | 9 | | 第二节 | 控股股东和实际控制人 12 | | | 第三节 | 股东会的一般规定 15 | | | 第四节 | 股东会的召集 17 | | | 第五节 | 股东会的提案与通知 19 | | | 第六节 | 股东会的召开 20 | | | 第七节 | 股东会的表决和决议 24 | | | 第五章 | 董事会 | 28 | | 第一节 | 董事 | 28 | | 第二节 | 独立董事 | 32 | | 第三节 | 董事会 | 34 | | 第四节 | 董事会专门委员会 40 | | | 第六章 | 高级管理人员 | 42 | | 第七章 | 财务会计制度、利润 ...