证券日报网讯欣锐科技11月4日在互动平台回答投资者提问时表示，公司基于在新能源汽车车载电源领 域积累的高效电能转换、高功率密度设计、热管理等大功率电力电子技术，开展机器人用供电系统 （PMS）的研发。主要目标是优化机器人供电系统，简化设计，改善散热性能，并更好地适配供电系 统的布局，以配合机器人市场的需求开发。目前，机器人电源市场尚处于培育期，公司会持续关注行业 标准及客户需求的变化，并与潜在客户保持沟通。关于公司合作情况，请以公司在法定信息披露媒体上 发布的官方公告为准。 （文章来源：证券日报） ...

（记者 王晓波） 每经AI快讯，有投资者在投资者互动平台提问：公司的PMS机器人电源开发进展如何，具报道称已有 相关产品厂家送样，该进展是否属实？ 欣锐科技（300745.SZ）11月4日在投资者互动平台表示，公司基于在新能源汽车车载电源领域积累的高 效电能转换、高功率密度设计、热管理等大功率电力电子技术，开展机器人用供电系统（PMS）的研 发。主要目标是优化机器人供电系统，简化设计，改善散热性能，并更好地适配供电系统的布局，以配 合机器人市场的需求开发。目前，机器人电源市场尚处于培育期，公司会持续关注行业标准及客户需求 的变化，并与潜在客户保持沟通。关于公司合作情况，请以公司在法定信息披露媒体上发布的官方公告 为准。 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected investment return that will outperform the market benchmark by more than 15% over the next 6-12 months [5][13]. Core Insights - The company achieved a revenue of 4.597 billion yuan in the first three quarters of 2025, representing a year-on-year growth of 5.45%. The net profit attributable to shareholders reached 425 million yuan, up 43.64% year-on-year [1]. - In Q3 2025, the company reported a revenue of 1.638 billion yuan, a 3.06% increase year-on-year, and a net profit of 153 million yuan, which is a significant increase of 90.49% year-on-year [1][2]. - The company is a leading player in the vehicle power supply industry, holding a 16.2% market share in China's vehicle power supply shipments for Q3 2025, despite a slight decline from the previous year [1][3]. Summary by Sections Financial Performance - The company's gross margin for Q3 2025 was 23.02%, an increase of 4.94 percentage points year-on-year, while the net profit margin was 9.37%, up 4.11 percentage points year-on-year [2]. - The operating cash flow for the first three quarters of 2025 was 610 million yuan, a substantial increase of 69% year-on-year [2]. Product Development and Market Expansion - The company invested 107 million yuan in R&D in Q3 2025, with an R&D expense ratio of 6.52%. The sales of the next-generation integrated products accounted for over 20% of total sales [2]. - The company is focusing on emerging markets, including low-altitude economy and AI server power supply, leveraging its R&D capabilities and customer base [2]. Global Strategy - The company has established strong ties with Stellantis Group and is benefiting from the ramp-up of new electric vehicle platforms. It is also expanding its production base in Thailand [3]. - The company is expected to continue increasing its market share through product structure adjustments and accelerated globalization efforts [1][3]. Earnings Forecast and Valuation - The forecasted net profits for 2025, 2026, and 2027 are 649 million yuan, 872 million yuan, and 1.042 billion yuan, respectively, with corresponding P/E ratios of 24, 18, and 15 [4][3].