（文章来源：证券日报） 证券日报网讯 2月26日，凯尔达发布公告称，公司2025年实现营业收入649836214.83元，同比增长 16.64%；归属于上市公司股东的净利润为26386205.78元，同比下降15.54%。 ...

证券代码：688255 证券简称：凯尔达 公告编号：2026-002 杭州凯尔达焊接机器人股份有限公司 2025 年度业绩快报公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 本公告所载2025年度主要财务数据为初步核算数据，未经会计师事务所审 计，具体数据以杭州凯尔达焊接机器人股份有限公司（以下简称"公司"或"凯 尔达"）2025年年度报告为准，提请投资者注意投资风险。 一、2025 年度主要财务数据和指标 单位：人民币元 3.以上财务数据及指标以合并报表数据填列，但未经审计，最终结果以公司 2025 年年 度报告为准。 二、经营业绩和财务状况情况说明 （一）报告期的经营情况、财务状况及影响经营业绩的主要因素 1、经营情况：报告期内公司实现营业收入 64,983.62 万元，较上年同期增长 16.64%；实现营业利润 2,551.93 万元，较上年同期减少 19.07%；实现归属于母 公司所有者的净利润 2,638.62 万元，较上年同期减少 15.54%；实现归属于母公 司所有者的扣除非经常性损益的净利润 1,69 ...

凯尔达发布业绩快报，2025年度公司实现营业总收入6.5亿元，同比增长16.64%；净利润2638.62万元， 同比下降15.54%。2025年度为应对市场竞争加剧的影响，公司持续加大投入，提高公司产品的市场竞 争力，研发费用、销售费用同比增长，工业机器人销量持续提升，但综合毛利率同比下降和财务费用同 比增加等因素，使公司净利润同比下降。 ...

智通财经APP获悉，申万宏源发布研报称，目前，机器狗的技术路线从发散走向收敛，软硬件技术相对 成熟，行业已进入商业化应用阶段。在政策和资本的支持之下，全球范围内布局四足机器人市场的企业 和机构数量持续增加，现国内布局企业已达50余家。机器狗产业放量在即，关注相关供应链和生态合作 伙伴。 申万宏源主要观点如下： 四足机器人核心优势在于强地形适应、高动态稳定、灵活机动与高载荷适配，且无需改造环境即可在轮 式/履带式机器人难以作业的场景高效执行任务，是工业巡检、应急救援、特种场景的优选方案。目 前，机器狗的技术路线从发散走向收敛，软硬件技术相对成熟，行业已进入商业化应用阶段。 多维应用场景加速落地，中长期市场空间值得期待 1)国防应用：正加速成为各国推进国防智能化的重要抓手，核心任务集中于侦察监视、火力支援等高风 险、高强度场景，全球主要军事强国已形成较为清晰的发展路径。 四足机器狗环境适应能力强，已进入商业化应用阶段 2)工业应用：正逐渐成为替代人工巡检的重要技术路径，依托"基础平台+按需配置"的模块化架构，目 前已在变电站、管廊、电缆隧道、化工装置和钢铁厂等场景形成较为成熟的应用案例。 3)应急救援：正从技术验 ...

Group 1: Key Insights on the Machine Dog Industry - The quadruped robot industry is experiencing rapid application expansion, with strong environmental adaptability and commercial viability [4][12] - Key application scenarios include defense, industrial inspection, emergency rescue, and consumer household use, indicating a promising long-term market potential [4][12] - Domestic brands dominate the market, with over 50 companies actively participating, including notable players like Yushutech and Boston Dynamics [4][12] Group 2: Insights on the Power Generation Sector - In the thermal power sector, both coal and electricity prices are declining, leading to improved profit margins for coal-fired power plants [4][12] - Hydropower utilization hours are expected to increase due to favorable water conditions, with a projected utilization of 3367 hours in 2025, up 12 hours year-on-year [4][12] - Nuclear power is maintaining a high approval rate, with 10 new units expected to be approved in 2025, although profitability may be impacted by declining market electricity prices [4][12] Group 3: Recommendations for Investment - For thermal power, recommended companies include Guodian Power and Inner Mongolia Huadian, which benefit from stable profit margins [5][12] - In hydropower, companies like Yangtze Power and State Power Investment are highlighted for their potential growth due to improved financial conditions [5][12] - In the natural gas sector, companies such as Kunlun Energy and New Hope Energy are recommended due to expected profitability improvements from cost reductions [5][12]

Group 1 - The National Robot Industry Index fell by 2.1%, the China Securities Intelligent Electric Vehicle Index decreased by 2.0%, the China Securities Consumer Electronics Theme Index dropped by 2.2%, and the China Securities Internet of Things Theme Index declined by 1.3% [1] - The robot ETF E Fund (159530) saw a net subscription of over 60 million units in half a day [1] - Zhejiang University Hangzhou International Science and Technology Innovation Center, in collaboration with Jingzhi Technology and Kairda Group, launched the first full-size humanoid robot "Bolt" with a peak speed of 10 meters per second, marking a breakthrough in high-speed movement and control of humanoid robots in China [1]

Group 1 - The Ministry of Industry and Information Technology (MIIT) is focusing on high-quality development and high-level safety in the automotive industry, accelerating the development of key standards related to driving automation and collision safety [1] - The A-share market for commercial aerospace and non-ferrous metals has entered a phase of wide fluctuations, with significant tracking errors observed in related index funds, leading to management challenges [1] - Institutions have been actively researching humanoid robot companies, indicating a potential acceleration in the commercialization of humanoid robots and positive growth opportunities for the industry [2] Group 2 - Over 100 listed companies have reported winning contracts or tenders, indicating a strong start to the year for various sectors, particularly in infrastructure and international markets [3] - The commercial aerospace industry in China is experiencing a "listing rush," with several companies updating their IPO processes and attracting investments from major securities firms [3] - Public funds have significantly increased their dividend payouts in 2026, with a total of 630 distributions amounting to 33.464 billion yuan, reflecting a trend towards higher returns in the industry [4] Group 3 - The rise in prices of non-ferrous metals has led to increased merger and acquisition activity among mining companies, particularly among Chinese firms, as they seek to secure valuable resources [5] - The semiconductor industry is showing signs of recovery, with over half of the listed companies in the sector expecting profit growth in 2025, driven by advancements in AI and related technologies [6] - The humanoid robot industry is entering a critical phase of commercialization, with significant technological breakthroughs and expanding application scenarios, suggesting a robust growth trajectory [7] Group 4 - International gold and silver prices experienced a significant rebound, with gold surpassing 5,000 USD per ounce and silver exceeding 90 USD per ounce, indicating ongoing investment interest despite previous volatility [8]

Group 1 - The Zhejiang University Hangzhou International Innovation Center, in collaboration with Jingzhi Technology and Kaierda Group, launched the humanoid robot "Bolt" with a peak speed of 10 meters per second, marking a breakthrough in high-speed motion and control in humanoid robotics in China [1] - The release of "Bolt" is expected to accelerate the transition from technology research and development to commercialization in the humanoid robotics industry, with significant potential applications in sports technology and intelligent training [1] - The humanoid robotics industry in China is entering a critical phase of commercialization, with continuous breakthroughs in core technologies and expanding application scenarios, projected to enter a new stage of large-scale development by 2026 [1][2] Group 2 - Since 2025, the humanoid robotics industry in China has made significant advancements in motion control, core components, and foundational algorithms, with companies like Zhiyuan Innovation and Yushu Technology leading the way [2] - The year 2025 is identified as a pivotal year for the humanoid robotics industry in China, transitioning from initial development to broader application and integration of technologies [2] - The continuous technological breakthroughs are driving steady expansion in the humanoid robotics industry, with an increasing number of application scenarios further supporting industry growth [2] Group 3 - IDC's report indicates that global humanoid robot shipments are expected to reach approximately 18,000 units by 2025, representing a year-on-year growth of about 508%, with Chinese manufacturers dominating the market [3] - The humanoid robotics sector has seen significant capital investment, with the Beijing Humanoid Robot Innovation Center completing a market financing round exceeding 700 million yuan, and over 70% of financing events in the robotics sector occurring in humanoid robotics and embodied intelligence [3] - Policy support for the humanoid robotics industry is strengthening, with initiatives included in government reports and plans, establishing a clear development path and support system for the industry [3] Group 4 - The high-tech robot industry research institute predicts that by 2026, the domestic humanoid robotics industry will enter a phase of large-scale production, with expected shipments reaching 62,500 units [4] - The humanoid robotics industry chain is experiencing significant development opportunities, with companies accelerating core technology breakthroughs and product innovations to support large-scale industry implementation [4] Group 5 - Companies like Guangzhou Haozhi Electromechanical and Jilun Intelligent are actively developing core components for humanoid robots, with orders already being placed for products such as harmonic reducers and planetary reducers [5] - Midea Group has introduced the "MIROU," a six-armed wheeled humanoid robot, showcasing innovation in the industry [5] - Industry experts emphasize the need for humanoid robotics companies to focus on technological innovation, particularly in core hardware and software, to overcome technical bottlenecks and drive product iterations [5]

Group 1: Agricultural and Rural Development - The 2026 Central Document emphasizes modernizing agriculture and rural areas, aiming for comprehensive rural revitalization as a primary focus [2] - It highlights the importance of enhancing agricultural policies, ensuring food security, and improving rural living conditions to support China's modernization [2] Group 2: State-Owned Enterprises and Innovation - The State-owned Assets Supervision and Administration Commission (SASAC) is pushing for the development of strategic emerging industries and the transformation of traditional industries [3] - There is a focus on fostering technology-driven enterprises and enhancing collaboration between state-owned enterprises and research institutions to drive innovation [3] Group 3: Energy and Fuel Prices - Starting February 3, domestic gasoline and diesel retail prices will increase by 205 yuan and 195 yuan per ton, respectively, leading to an increase of 0.16 yuan per liter for 92-octane gasoline [4] Group 4: Technological Advancements and Investments - Shanghai is prioritizing the development of future industries such as brain-computer interfaces and fourth-generation semiconductors [5] - The Beijing Humanoid Robot Innovation Center has secured over 700 million yuan in market financing, marking a significant step towards market operation and industrialization [5] Group 5: Robotics and AI Innovations - Zhejiang University has launched the Bolt humanoid robot, which is currently the fastest in the world, capable of running at 10 meters per second [6] - A new AI-assisted puncture navigation robot has received approval for market entry, showcasing advancements in AI technology for clinical applications [6] Group 6: Market Movements and Stock Performance - The South Korean stock market experienced significant volatility, with the composite index dropping over 5% before rebounding and triggering a trading halt [9] - Major indices in the US and A-shares showed positive performance, with the Dow Jones increasing by 1.05% and the Shanghai Composite Index rising by 1.29% [14][15] Group 7: Semiconductor Industry Developments - Samsung and SK Hynix are planning to expand their advanced NAND flash memory production capacity, with Samsung discussing a monthly investment of 40,000 to 50,000 wafers [10] - Samsung Electro-Mechanics is advancing its semiconductor glass substrate project, aiming for commercialization by 2027 [11] Group 8: Corporate Mergers and Strategic Moves - Elon Musk announced the merger of SpaceX and xAI to create a space-based data center, emphasizing the need for AI infrastructure in space to meet growing energy demands [12]

Group 1 - The Zhejiang University Hangzhou International Innovation Center has officially launched the full-sized humanoid robot named Bolt [2] - Bolt is currently the fastest humanoid robot in the world, capable of running at a speed of 10 meters per second [3] - The development of Bolt was a collaborative effort between the Innovation Center, Jingzhi Technology, and Kaierda [3]