Investment Rating - The report maintains a positive investment rating for Nextracker, categorizing it as a top recommended stock within the global renewable energy coverage of Haitong Securities [1]. Core Insights - Nextracker's Q1 2026 performance exceeded market expectations, with a significant upward revision of its fiscal year 2026 EBITDA guidance and a record backlog of orders, indicating strong solar demand and stable pricing [1][2]. - The company reported a net revenue of $864 million for Q1 2026, slightly above the market consensus of $845 million, and an adjusted EBITDA of $215 million, surpassing the expected $190 million [3][5]. - Nextracker's gross margin remained robust at 32.6%, with adjusted net income reaching $176 million, significantly exceeding market expectations [3][5]. Summary by Sections Financial Performance - For fiscal year 2026, Nextracker raised its revenue guidance from $3.2 billion to $3.245 billion, with EBITDA guidance adjusted from $775 million to a range of $750 million to $810 million [2]. - The net profit forecast was increased from $445-503 million to $496-543 million, while the gross margin is expected to remain in the "low 30%" range [2]. Order Backlog and Market Demand - As of the end of Q1 2026, Nextracker's order backlog exceeded $4.75 billion, marking the 15th consecutive quarter of growth, with a backlog-to-shipment ratio maintained above 1 [3]. - The company anticipates that 80% to 90% of the backlog will be delivered over the next eight quarters, reflecting strong demand in the U.S. market [3]. Strategic Acquisitions - Nextracker announced three completed acquisitions in advanced robotics and artificial intelligence, with a total investment exceeding $40 million, aimed at enhancing operational efficiency and reducing maintenance costs [4].

Group 1 - The core viewpoint is that Wuzhong District in Suzhou, Jiangsu Province, is actively developing the robotics and artificial intelligence industry, aiming to become the "national robot industry cluster first district" through deep integration of technological and industrial innovation [1][2] - In 2024, Wuzhong District was approved as the only pilot area in Jiangsu Province focusing on humanoid robotics, as part of the "Future Industry Pilot Development List" released by the Jiangsu Provincial Development and Reform Commission [1] - Wuzhong District employs a "full industrial chain breakthrough" strategy, fostering leading and specialized enterprises to address bottlenecks in the industrial and innovation chains, with notable companies like Huichuan Technology and Ecovacs leading the market [1] Group 2 - Wuzhong District has implemented the "Artificial Intelligence+" initiative to enhance the application of robots across various sectors, including industry, agriculture, culture, tourism, and healthcare, by creating demand lists and supply platforms [2] - The district has introduced new policies to support the expansion of robot application scenarios, providing financial incentives for companies to promote robot usage, resulting in over a thousand enterprises adopting industrial robots [2] - Looking ahead, Wuzhong District aims to continuously strengthen the integration of robotics and artificial intelligence, enhancing industry concentration and driving high-quality development in manufacturing [2]

华夏时报（www.chinatimes.net.cn）记者 陶炜 南京报道 机器人概念广受追捧的当下，一家从2017年就开始涉足机器人业务的上市公司即将被终止上市。 "就算财报的问题解决了，将来如果想恢复上市还得看近三年的利润、营收情况。就算都符合条件，也 得重新按照IPO的标准去申请，最多可能排队时间短些。"前述*ST工智证券事务部工作人员对本报记者 说。 从事八年机器人,现在退市了 2017年1月，当时还叫"友利控股"的上市公司完成对汽车制造自动化装备龙头企业"天津福臻工业装备股 份有限公司"的全资收购，正式向智能制造和人工智能领域转型。同年8月24日，公司更名为"江苏哈工 智能机器人股份有限公司"，确立了以高端智能装备、工业机器人服务平台和人工智能为主导的发展战 略。 2021年以来，*ST工智连续4年亏损，累计亏损额接近二十亿元。而导致公司被终止上市的，则是其财 务会计报告连续两年被会计师事务所出具无法表示意见审计报告。 今年4月底，尤尼泰振青会计师事务所（特殊普通合伙）对公司2024年度财务报表出具了无法表示意见 的审计报告，对公司财务报告内部控制出具了否定意见的审计报告。而在前一年，*ST工智20 ...