Core Points - The company has received a notice from Guotai Junan Securities regarding the replacement of its continuous supervision sponsor representatives [1][2] - The continuous supervision period for the company's initial public offering (IPO) project has ended on December 31, 2023, but the company has not yet fully utilized the raised funds [1] - The new sponsor representatives appointed are Wu Kaicheng and Qin Guoliang, with Wu Kaicheng replacing Chen Hui due to work changes [2][3] Summary by Sections - **Change of Sponsor Representatives** - The change in sponsor representatives will not alter the conclusions of previously issued documents by the sponsor institution and representatives [2] - The company expresses gratitude to Chen Hui for his contributions during the supervision period [2] - **Background of New Representative** - Wu Kaicheng is currently a deputy administrative head in the TMT industry department at Guotai Junan Securities and has a strong background in IPO projects [3] - He has been involved in multiple IPOs and refinancing projects, demonstrating a solid track record in compliance with relevant regulations [3]

Group 1 - The mechanical equipment industry has shown a strong performance with a 55.20% increase from January to October 2025, outperforming the CSI 300 index by 25.03 percentage points, ranking fifth among Shenwan industries [14][6][29] - Revenue and net profit attributable to the parent company for the first three quarters of 2025 grew by 6.11% and 14.52% year-on-year, respectively, indicating improved profitability and operational quality [17][29][30] - The industry is benefiting from factors such as product exports, cost control, and optimization of product structure, leading to enhanced profitability [17][29] Group 2 - The engineering machinery sector has experienced significant growth in exports, with a focus on increasing electrification rates. Domestic excavator sales showed a slowdown in October 2025, attributed to preemptive inventory replenishment [34][44][54] - The demand for engineering machinery is expected to be supported by the commencement of major national projects and accelerated funding [34][49] - The global market for electric engineering machinery is projected to grow significantly, with China's electrification rate expected to reach 7.90% by 2024 [69][74] Group 3 - The humanoid robot sector is seeing advancements in industrial applications, particularly in dexterous hand technology, which is crucial for the deployment of humanoid robots in various settings [75][78] - The integration of AI models is enhancing the capabilities of robots, making them more versatile for industrial applications [77][78] - Tesla's Optimus Gen3 is set to launch in Q1 2026, with significant demand for components, indicating a robust growth trajectory for humanoid robotics [79][80] Group 4 - The automation equipment sector is experiencing a mixed recovery, with industrial robots facing intensified competition and a shift towards high-end markets [80][81] - The demand for industrial automation is expected to recover in specific sub-sectors, while overall manufacturing PMI remains below the growth line [80][81] - The machine tool sector is witnessing a gradual recovery in revenue growth, supported by improved downstream demand and policy support [80][81] Group 5 - Investment recommendations for 2026 focus on technology development, cyclical recovery, and export chain layout, with specific companies highlighted for potential investment [6][29][40]

Group 1: Industry Perspective on Institutional Research - The research indicates a rebound in institutional research activity, particularly in the electronics, power equipment, and construction decoration sectors, with a total of 726 research instances last week, higher than 674 instances in the same week of 2024 [3][19] - The increase in research activity is noted across various sectors, including electronics, power equipment, construction decoration, agriculture, environmental protection, textiles, building materials, retail, defense, home appliances, and coal [3][19] - In October, due to the earnings report disclosure period, the total number of institutional research instances across the A-share market significantly dropped to 1,768, lower than 1,994 instances in October 2024 [20][21] Group 2: Individual Stock Perspective on Institutional Research - The stocks that received the most attention recently include Huichuan Technology, Fengyuan Co., and Ice Wheel Environment, with Huichuan Technology being researched 9 times last week [25][28] - Over the past month, stocks such as Oke Yi, Huichuan Technology, Ice Wheel Environment, and others have seen a high number of research instances, indicating strong market interest [29][30] - Huichuan Technology has been frequently researched due to its early advantage in the eCall system, which is expected to create a stable demand of nearly 30 million units annually starting from July 1, 2027, as all cars sold in China must be equipped with the system [27]

证券之星消息，11月26日自动化设备板块较上一交易日上涨0.3%，智立方领涨。当日上证指数报收于 3864.18，下跌0.15%。深证成指报收于12907.83，上涨1.02%。自动化设备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 301312 | 智立方 | 48.45 | 6.46% | 5.35万 | | 2.55亿 | | 688698 | 伟创电气 | 86.68 | 6.17% | 7.60万 | | 6.41亿 | | 605288 | 凯迪股份 | 99.62 | 3.00% | 2.28万 | | 2.26亿 | | 688310 | 迈得医疗 | 16.02 | 2.63% | - 3.41万 | | 5400.88万 | | 000988 | 华工科技 | 72.40 | 2.30% | 59.07万 | | 42.90 Z | | 002979 | 雷赛智能 | 40.08 | 1.86% | 4.64万 | | 1.84亿 | ...

Group 1 - The company has confirmed that its five-axis dispensing equipment can be applied in the production process of AI glasses, including XR smart terminals [2] - The company is actively engaging with investors regarding its technology's applicability in the AI glasses sector [2]

（文章来源：每日经济新闻） 广发证券指出，2025年机械设备、自动化设备行业受益于外需和"两新"（新兴产业、新型基础设施）相 关链条的驱动，工程机械、能源设备、汽车零部件等细分领域表现突出。中观层面存在明显"温差"，新 兴部门如AI产业链、高端装备制造景气度高，而传统部门受投资和消费偏弱影响景气度较低。2025年 前10个月设备工器具投资累计同比增长13.0%，高技术制造业增加值同比增长9.3%，显示产业升级趋势 明确。在"十五五"规划推动下，预计2026年传统制造业将通过"优化提升"政策改善供需平衡，新兴与传 统部门的景气度差值有望收敛，行业整体盈利广度将有所扩展。 工业母机ETF（159667）跟踪的是中证机床指数（931866），该指数从中国A股市场中选取涉及机床制 造、零部件供应及相关服务的上市公司证券作为指数样本，以反映机床产业链相关上市公司证券的整体 表现。指数覆盖从上游材料到下游应用的全产业链条，尤其聚焦于高端装备制造领域。 ...

证券之星消息，11月25日自动化设备板块较上一交易日上涨0.75%，博杰股份领涨。当日上证指数报收 于3870.02，上涨0.87%。深证成指报收于12777.31，上涨1.53%。自动化设备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002975 | 博杰股份 | 77.00 | 10.00% | 6.46万 | 4.87亿 | | 688125 | 安达智能 | 73.90 | 8.36% | 1.46万 | 1.05亿 | | 300757 | 罗博特科 | 203.76 | 5.98% | 8.16万 | 16.66亿 | | 688090 | 瑞松科技 | 36.85 | 4.24% | - 3.76万 | 1.40亿 | | 000988 | 华工科技 | 70.77 | 3.45% | 48.79万 | 34.80 乙 | | 688455 | 科捷智能 | 16.32 | 3.29% | 3.22万 | 5254.70万 | | 688170 | 德龙激 ...

证券日报网讯汇川技术11月25日发布公告，在公司回答调研者提问时表示，流程工业对产品可靠性、系 统性和解决方案要求比较高。经过多年准备，公司面向流程工业应用的产品和解决方案有了较大的提 升，业务取得一定的增长。目前来看，公司在流程工业的拓展上看到比较好的切入点：①国产化趋势； ②流程工业正面临数字化、智能化转型和新型工业化再造，公司以数据为核心，助力中国流程工业实现 新型工业化，推动行业工艺突破。公司正在补强在数字化、大型PLC领域的能力，打造样板点，切入流 程行业。 （文章来源：证券日报） ...

证券日报网讯汇川技术11月25日发布公告，在公司回答调研者提问时表示，近几年，公司加大了PLC产 品的投入力度。其中，中大型PLC带有核心工艺、复杂的运动控制，是公司拓展中高端应用市场的核心 产品之一。过去几年，公司紧抓市场机会，借助中大型PLC产品在光伏、锂电、手机等行业核心工艺的 突破，形成多产品解决方案的切入，显著增强了客户黏性。此外，公司今年也推出了面向连续性生产应 用场景的、带功能安全的大型PLC产品，目前也在积极地在冶金、石油、石化、矿山等下游领域进行产 品试机和验证工作，并建立了样板点。当前，公司中大型PLC产品在中国市场的份额约5.1%，位居第六 名，未来仍有足够的成长空间。随着公司对产品能力的不断提升及耦合多产品解决方案的能力持续增 强，预计未来中大型PLC产品能够实现较好的成长。 （文章来源：证券日报） ...

投资者关系活动记录表 证券代码：300124 证券简称：汇川技术 深圳市汇川技术股份有限公司投资者关系活动记录表 编号：2025-16 | 投资者关系活动 | 特定对象调研 □分析师会议 | | --- | --- | | 类别 | □媒体采访 □业绩说明会 | | | □新闻发布会 路演活动 | | | □现场参观 | | | 其他 电话会议 券商策略会 | | 参与单位名称及 | 一、11 月 10 日 | | | 第一场：电话会议 | | 人员姓名 | Point72 Asset Management 共 1 人 | | | 二、11 月 11 日 | | | 第一场：电话会议 | | | Alliance Bernstein Asset Management 共 1 人 | | | 第二场：券商策略会 | | | CPPIB、Harding Loevner、合众易晟、乐信投资、韩国投信 | | | 运用株式会社、中信里昂证券、瀚朴投资、广金投资、易方 | | | 达基金、中信资管、淡马锡富敦、崇山投资、希格斯投资、 | | | 阿布达比投资局、长金投资、招商基金、嘉实基金、中信证 | | | 券 ...