记者丨见习记者李益文 编辑丨叶映橙 8月26日，领益智造（002600.SZ）开盘后震荡上升，随后强势涨停，截至收盘报14.92元/股。 针对上述招聘信息及英伟达合作传闻，21财经・南财快讯记者以投资者身份致电领益智造求证。接线工 作人员回应称，不清楚公司是否有相关招聘；同时提到，公司与部分客户签有保密协议，客户信息无法 对外透露，关于与英伟达是否存在合作，建议投资者关注公司官方公告。 据公司官网介绍，领益智造成立于2006年，2018年登陆A股市场，是AI终端硬件核心供应商，主营业务 是为客户提供精密功能件、结构件、模组等一站式智能制造服务及解决方案。未来，公司将聚焦主业并 向上游延伸，全面发力机器人、服务器散热等第N增长曲线；拓展海外市场，提升海外盈利能力。 财务数据方面，领益智造2024年营收442.11亿元，同比增长29.56%，但归母净利润却同比下滑14.5%至 17.53亿元；不过2025年一季度业绩回暖，当季公司营收114.94亿元同比增长17.11%，归母净利润5.65亿 元同比增长23.52%。 （声明：文章内容仅供参考，不构成投资建议。投资者据此操作，风险自担。） 股价异动背后，一则招聘信 ...

Core Viewpoint - The company, Lingyi Technology, is expected to see significant growth in its net profit for the first half of 2025, with projections indicating an increase of 31.57% to 66.66% year-on-year, and a more substantial growth of 48.59% to 82.88% when excluding stock incentive amortization expenses [1][2]. Financial Performance Summary - The projected net profit attributable to shareholders is estimated to be between 900 million and 1.14 billion yuan, compared to 684.03 million yuan in the same period last year, reflecting a year-on-year growth of 31.57% to 66.66% [2]. - The net profit attributable to shareholders, excluding stock incentive amortization expenses, is expected to be between 1.04 billion and 1.28 billion yuan, up from 699.90 million yuan last year, indicating a growth of 48.59% to 82.88% [2]. - The net profit after excluding non-recurring gains and losses is projected to be between 580 million and 820 million yuan, showing a modest increase of 1.04% to 42.85% compared to 574.02 million yuan last year [2]. - The basic earnings per share are anticipated to be between 0.13 yuan and 0.16 yuan, compared to 0.10 yuan in the previous year [2]. Quarterly Performance Insights - In the first quarter of 2025, the company achieved a revenue of 11.494 billion yuan, marking a year-on-year increase of 17.11%, with a net profit attributable to shareholders of 565 million yuan, up 23.52% [2]. - The net profit excluding stock incentive amortization expenses for the first quarter was 641 million yuan, reflecting a year-on-year growth of 37.59% [2]. - The company has maintained a strong performance, with revenues exceeding 10 billion yuan for three consecutive quarters and achieving double-digit year-on-year growth for five consecutive quarters [2]. Growth Drivers - The significant year-on-year growth in the company's performance is attributed to several factors: 1. Increased investment in R&D for high-value-added AI terminal hardware products, which has enhanced market share and established supplier alliances, leading to improved production line utilization and reduced manufacturing costs [3]. 2. Progress in the domestic automotive business, with notable improvements in process capabilities and operational efficiency compared to the previous year [3]. 3. Measures taken by some overseas new factories have resulted in a reduction of losses compared to the same period last year [3].

Investment Rating - The report maintains a "Buy" rating for the company [6]. Core Views - The company is expected to achieve a significant increase in net profit for the first half of 2025, with estimates ranging from 900 million to 1.14 billion yuan, representing a year-on-year growth of 31.57% to 66.66% [1]. - The growth in profit is attributed to several factors, including ongoing investment in high-value AI terminal hardware, improvements in domestic automotive business efficiency, and reduced losses from overseas factories [1]. - The company is evolving into a manufacturing platform for AI terminal hardware, focusing on areas such as imaging display, materials, battery power, thermal management, and premium assembly [1]. Summary by Sections Financial Performance - The company forecasts revenue of 49.1 billion yuan in 2025, with a year-on-year growth of 11.0% [4]. - Expected net profit for 2025 is projected at 2.3 billion yuan, reflecting a growth of 31.0% compared to the previous year [4]. - The company’s earnings per share (EPS) is anticipated to be 0.33 yuan in 2025, with a net asset return rate of 10.1% [5]. Business Expansion - The company is entering the humanoid robot market, with expectations of commercial production by 2025, and a projected global market size of 4.96 billion USD by 2030 [2]. - The AI glasses market is also expanding, with an expected sales volume of 5.5 million units by 2025, a 262% increase from 2024 [2]. - The foldable smartphone segment is projected to see a shipment increase to approximately 10 million units in China by 2025, growing at a rate of 9.1% [3]. - The company is also advancing into the server market, focusing on GPU and AI application cooling products, becoming a core supplier for AMD [3]. Future Projections - Revenue projections for 2025, 2026, and 2027 are 49.1 billion, 59.1 billion, and 68.3 billion yuan respectively, with growth rates of 11.0%, 20.5%, and 15.5% [4]. - Net profit estimates for the same years are 2.3 billion, 3.0 billion, and 3.8 billion yuan, with growth rates of 31.0%, 30.9%, and 27.4% [4].

Core Viewpoint - The company is adjusting its fundraising projects and amounts to enhance the efficiency of fund utilization, with a significant increase in investment for the carbon fiber project and the introduction of a new project focused on humanoid robots [2] Group 1: Fundraising Adjustments - The total investment for the original fundraising project "Research and Production of Carbon Fiber and Heat Dissipation Precision Parts" is increased from 266 million to 743 million [2] - A new fundraising project "Upgrading Key Components and Assembly Capabilities for Humanoid Robots" is introduced with a planned investment of 50 million [2] Group 2: Project Implementation - The company plans to conduct research, testing, and trial production of robot-related structural components and complete products across multiple locations including Shenzhen, Dongguan, Suzhou, and Yangzhou [3] - The project aims to develop core components such as body structure parts, servo motors, drivers, reducers, and joint modules, as well as solutions for high-power charging and heat dissipation [3] Group 3: Technological Advancements - The project will introduce advanced research and testing equipment such as five-axis CNC machines, 3D printers, and laser tracking devices to enhance the professional and systematic level of the R&D platform [4] - The company has a strong foundation in high-strength material processes and structural design, which will support the development of core components for humanoid robots [4] Group 4: Strategic Importance - The new project is a crucial strategic move for the company to capture industry development opportunities and diversify its growth trajectory [3] - The integration of the robot industry chain from key components to complete systems will enhance the company's participation in the robotics ecosystem [3]