今年以来，国产机器人迎来融资、上市潮。6月19日，在春晚舞台惊艳亮相的宇树科技近期从更名到股 改再到完成C轮融资交割，频频被传即将IPO；6月16日，仓储机器人极智嘉更新招股书，欲冲刺"全球 仓储AMR第一股"；6月6日，智能清洁机器人石头科技宣布拟赴港上市。 截至2024年12月31日，仙工智能控制器适配超过300种零部件，并支持超过1500家集成商与终端客户。 截至目前，基于仙工智能平台部署的机器人已经超过1000种款型，覆盖3C、汽车、自动化设备、新能 源、半导体、工程机械、生物医药等超过20个细分行业。 5月30日，专注于智能机器人视觉感知技术及产品研发设计的乐动机器人向港交所递交上市申请书，拟 在主板挂牌上市。尽管乐动机器人已量产了两代割草机器人以期打造第二增长曲线，但乐动机器人的最 大营收仍自于其传感器和算法模组等视觉感知产品。2022—2024年，视觉感知产品分别给乐动机器人贡 献了97.8%、99.1%和94%的营收。根据灼识咨询数据，以2024年收入计，乐动机器人在以视觉感知为核 心的智能机器人公司，全球市场份额1.6%，排名第一，排名第二、三位的公司市场份额分别是1.5%和 1.4%。 6 ...

与当前十分"吸睛"的人形机器人同出一源，工业机器人外观多样，操作灵活，是如今先进制造业的"主 力选手"。全国每三台工业机器人，就有一台是"广东造"，而作为全国机器人生产重镇，广州机器人生 产量稳居全国前三，2023年工业机器人产量近1.5万套。经过多年蓄势蓄能，广州的机器人核心零部件 也正打破国外技术垄断，实现国产替代。 工业机器人到底有哪些应用和重要零部件？在现代工业中到底发挥哪些作用？未来还会有哪些应用方 向？本期《科技周刊》，记者采访了相关工业机器人企业和科技应用科普基地，向大家介绍工业机器人 的科学原理和前沿应用。 广东省机械研究所有限公司工业机器人科技应用创新科普基地负责人林新跃和工程师罗子健告诉记者， 工业机器人如今广泛应用于汽车、家具、建材、电器等行业，从事搬运、激光、焊接、打磨、喷涂、冲 压、协作等工作。在科普基地内，可以看到一台台工业机器人应用工作站，集中展示了工业机器人的典 型应用场景，有视觉应用模块、轨迹应用模块、码垛应用模块、装配应用模块等。 视觉应用模块 定位手和目标识别复杂场景 和人类主要依靠眼睛感知外界环境类似，视觉也将为机器人提供感知和决策支持，从而帮助工业机器人 完成各种任务 ...

汽车零部件 执业证书编号：S0740519050004 Email：fengsheng@zts.com.cn 执业证书编号：S0740524060004 Email：caixh@zts.com.cn | 基本状况 | | | --- | --- | | 总股本(百万股) | 110.00 | | 流通股本(百万股) | 67.21 | | 市价(元) | 134.80 | | 市值(百万元) | 14,828.00 | | 流通市值(百万元) | 9,060.11 | 1、《Q2 业绩稳健增长，稳步推进机 器人核心零部件业务》2024-09-02 业绩基本符合预期，谐波新秀潜力可期 ——斯菱股份 2024 年年报及 2025 年一季报点评 斯菱股份（301550.SZ） 证券研究报告/公司点评报告 2025 年 05 月 09 日 | 评级： | 买入（维持） | 公司盈利预测及估值 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 指标 | 2023A | 2024A | | 2025E | 2026E | ...

Core Insights - The company reported revenue of 770 million yuan for 2024, a year-on-year increase of 4.9%, and a net profit of 190 million yuan, up 26.9% year-on-year [1] - For Q1 2025, the company achieved revenue of 200 million yuan, a year-on-year increase of 19.8%, but a net profit of 50 million yuan, down 1.2% year-on-year [1] Financial Performance - The company's revenue from brake system bearings grew by 7.7% in 2024, accounting for 78.9% of total revenue [2] - The gross margin for 2024 was 32.5%, an increase of 0.4 percentage points year-on-year, while the net margin was 24.5%, up 4.3 percentage points year-on-year [2] - In Q1 2025, the gross margin was 33.1%, a decrease of 0.4 percentage points year-on-year, and the net margin was 23.8%, down 5.0 percentage points year-on-year [3] Global Expansion - The overseas market accounted for 68.4% of the company's revenue in 2024, with significant investments in Thailand to enhance production capacity [4] - The company has established local service capabilities in North America, which is expected to accelerate its global industrial layout [4] Strategic Initiatives - The company has initiated the production of harmonic reducers, a core component for robotics, with the first production line completed by the end of 2024 [5] - A dedicated robotics components division was established in 2024 to oversee the development and layout of robotic core components [5] Profit Forecast - The company is projected to achieve net profits of 220 million yuan, 250 million yuan, and 290 million yuan for the years 2025, 2026, and 2027, respectively, with corresponding PE ratios of 68, 60, and 52 times [5]

走进位于广西桂林的桂林福达股份有限公司车间，从圆钢锯切、棒料转运到抓取、加热、锻打、冷却、 下料等锻造工序，全程由机械臂、AGV（自动导向车）及自动化生产线配合完成。 作为中国新能源汽车混合动力发动机曲轴领域的领军企业，福达股份深耕汽车核心零部件研发与制造20 多年。近年来，企业通过技术创新、智能制造转型与新能源产业链深度布局，实现了产业国际化、管理 数智化、产品新能源化，从传统制造向高端智造的转身。 福达股份曲轴研发团队经过持续深入研究，终于实现了曲轴的减重与强度提升，公司自主研发的"轻量 化曲轴疲劳强度提升技术"成功将曲轴疲劳强度提高10%以上，有效满足了新能源汽车产业链对高性能 轻量化曲轴的需求。"技术创新在于解决行业痛点。例如，我们针对新能源混动曲轴的高精度需求，开 发了全自动圆角滚压与淬火强化工艺，使产品寿命提升30%。"福达股份总经理王长顺说。 福达股份自1995年成立以来，始终将技术创新视为立身之本。公司现有研发人员300多人，占企业总人 数的13%。5年来，每年研发投入均超过营业收入的5%，近10年累计研发投入近8亿元。公司还拥有国 家级CNAS（中国合格评定国家认可委员会）实验室、国家和地方 ...

4月29日，纳思达股份有限公司(002180.SZ)披露2025年第一季度报告。报告期内，公司实现营业收入 59.27亿元，归属于上市公司股东的净利润0.84亿元，扣除非经常性损益后净利润0.80亿元。 此外，纳思达打印耗材业务积极打造新的业务增长点，海外市场在南美、欧洲、澳洲、亚太等多个市场 成功开拓规模较大的新客户，带来了高价值增量，为未来市场占有率及利润的良性增长打下坚实基础。 在集成电路业务方面，今年开年以来纳思达旗下极海微先后发布BMP561单节电池电量监测计芯片、基 于Arm架构的实时控制MCU——G32R501、与广汽集团联合发布的AK2超声波传感器芯片与双通道 DSI3网络收发器芯片等多项国产首款芯片。极海微在集成电路市场上的认可度也得到持续攀升，纳思 达集成电路业务2025年一季度总体芯片出货量达1.25亿颗，同比增长9.38%，其中非耗材芯片营收1.04 亿元，同比增长58.52%。 最新消息显示，纳思达已经在为人形机器人公司宇树科技提供超声波雷达技术测障碍物的设计集成服 务，项目正处于产品验证阶段。而早在今年4月举办的OFweek 2025 中国机器人产业大会上，极海微已 作为国产机器人 ...

Summary of Fuda Co., Ltd. Conference Call Company Overview - Fuda Co., Ltd. reported a remarkable performance in Q1 2025, with a year-on-year growth rate of 339%, significantly surpassing the typical seasonal performance of the automotive industry, driven by capacity expansion and improvement in commercial vehicle business [2][3] Key Financial Metrics - Revenue for Q1 2025 reached approximately 470 million yuan, with a non-recurring net profit of 65.51 million yuan, reflecting a 112% year-on-year increase [3] - The net cash flow from operating activities was about 198 million yuan, showing a 339% increase year-on-year [3] - Gross margin for Q1 2025 was 27.1%, and net profit margin was around 14%, attributed to enhanced production efficiency and improved commercial vehicle business [2][8] Strategic Business Moves - The company decided to sell its 51% stake in Fuda's second subsidiary to optimize its business structure, focusing on strategic areas such as intelligent connected vehicles, new energy vehicles, and core components for robotics [2][4][7] - The sale is expected to positively impact Fuda's profits in 2025, with a total transaction amount of 96 million yuan, generating over 10 million yuan in balance sheet premium and more than 90 million yuan in profit statement gains [2][7] Capacity and Production - As of April 2025, Fuda's annualized capacity reached over 3.3 million sets, with expectations to increase to around 4.2 million sets by the end of the year [4][9] - The company has been operating at full capacity, with a production model that allows for quick adjustments to meet different customer demands, particularly in hybrid vehicle models [10] Robotics Business Development - Fuda's robotics business is advancing on two fronts: the self-developed planetary reducer, which is expected to start receiving orders in 2025, and a partnership with Changqing Technology to produce planetary roller screws [6][12] - The company has signed a confidentiality agreement with a sales company and has delivered the first batch of samples for the planetary reducer [6] Market Position and Future Outlook - Fuda is focusing on expanding its market share in the European market, with significant increases in export volumes expected in 2025 [14] - The company is strategically positioning itself to maintain flexibility for rapid expansion while ensuring resource optimization through the sale of non-core assets [15][16] Competitive Landscape - The robotics market is viewed as being in its early stages, with ongoing technological iterations expected. Fuda believes that its strong equipment capabilities will provide a competitive edge in cost and quality [13] - The company is committed to focusing on core areas such as passenger vehicles, new energy electric drive gears, and core components for robotics, aiming to leverage its strengths in these sectors for future growth [12][13]