Financial Performance - In the first half of 2025, the company reported revenue of 1.224 billion yuan, a year-over-year increase of 15.4%, and a net profit attributable to shareholders of 105 million yuan, up 1.4% year-over-year [1] - In Q2 2025, the net profit attributable to shareholders was 46 million yuan, reflecting a year-over-year and quarter-over-quarter decrease of 9.0% and 21.5% respectively [1] Revenue Breakdown - The sales gross margin and net profit margin for H1 2025 were 18.1% and 8.9% respectively [2] - EGR revenue reached 451 million yuan, a year-over-year increase of 27.44%, with a gross margin of 21.33%, down 3.14 percentage points year-over-year [2] - New energy business revenue was 484 million yuan, up 6.05% year-over-year, with a gross margin of 9.63%, down 2.27 percentage points year-over-year [2] - Precision automotive parts revenue was 287 million yuan, a year-over-year increase of 19.61%, with a gross margin of 22.88%, down 1.43 percentage points year-over-year [2] Aerospace and Robotics Developments - In H1 2025, the company saw a doubling in business volume for satellite modules and drone projects, and expanded into precision missile component support [3] - The company successfully overcame key technical challenges in harmonic reducers, improving product performance and reducing weight by 30%-40% compared to traditional products [4] - The "Lansen 2nd generation" robot has advanced from executing fixed commands to intelligent decision-making and optimization, enhancing operational precision and collaborative capabilities [4] Strategic Partnerships and Innovations - The company has invested in Dido Technology, which has developed the world's first millimeter-level high-performance tactile sensor, enhancing robotic capabilities in precision tasks [5][6] - The collaboration aims to improve automation in production and industrial inspection, addressing the common industry challenge of advanced technology implementation [6] Profit Forecast - The company is projected to achieve revenues of 3.27 billion yuan, 4.23 billion yuan, and 5.34 billion yuan from 2025 to 2027, with year-over-year growth rates of 36.5%, 29.3%, and 26.2% respectively [7] - The net profit attributable to shareholders is expected to reach 321 million yuan, 419 million yuan, and 513 million yuan during the same period, with growth rates of 42.9%, 30.7%, and 22.4% respectively [7]

Core Insights - The rise of humanoid robots is expected to drive a surge in the tactile sensor market, although no clear market leader has emerged yet [1][3][5] - Recent funding activities in the tactile sensor sector indicate a growing interest from major companies like JD.com and Xiaomi, with several startups securing significant investments [1][2][9] Funding Activities - Companies like Weitai Robotics, Daimeng Robotics, and Pashini have recently announced funding rounds, with Weitai Robotics raising nearly 100 million yuan in angel and angel+ rounds led by Xiaomi [1][2] - Pashini completed a multi-billion yuan A++++ round led by JD.com, marking its third A-series financing this year [2] - Daimeng Robotics has raised several hundred million yuan across multiple funding rounds, setting a record for angel round financing in the tactile sensor field [1][2] Market Dynamics - The global sensor market is valued at approximately $52 billion, with a growth rate of around 10% annually, while China's sensor market is about 164 billion yuan, growing at over 15% [3] - Tactile sensing is crucial for the practical application of humanoid robots, with various technical routes such as resistive, capacitive, and vision-based tactile sensors being explored [3][4] Technology and Innovation - Vision-based tactile sensors (VBTS) combine optical imaging with tactile sensing, allowing robots to perceive object characteristics more accurately [4][6] - The potential market size for tactile sensors could reach 1.18 trillion yuan if humanoid robot production reaches 100 million units, with vision-based tactile sensors projected to capture a significant share [4] Industry Trends - The tactile sensor industry is still in its early stages, presenting opportunities for startups to gain a competitive edge [5][6] - Major companies like Xiaomi, JD.com, and Lenovo are actively investing in the sector, indicating a strong belief in the future of humanoid robots and tactile sensing technology [9][10] Collaboration and Partnerships - Companies are forming strategic partnerships to enhance their technological capabilities and market reach, such as Daimeng Robotics collaborating with Lenovo for smart manufacturing [11] - The collaboration between startups and established firms is expected to accelerate the commercialization of tactile sensing technologies [6][11]