维科网机器人是机器人行业门户网站，面向机器人技术研发与应用领域人士,提供及时迅速的机器人行 业资讯。同时为机器人产品制造厂商、配件供应商以及广大机器人用户提供技术交流与体验心得分享的 平台。 作者 | 维科网机器人 来源 | 维科网机器人 导语 ： 从装特斯拉家用桩起家，到拿下中东订单、押注自动充电机器人， 挚达科技 靠技术 转型赌一个港股IPO。 近日，中国证监会国际合作司发布关于 上海挚达科技发展股份有限公司（以下简称"挚达科技"） 境外发行上市及境内未上市股份"全流通"备案通知书。 以下文章来源于维科网机器人 ，作者Z 维科网机器人 . 根据备案内容， 该公司拟发行不超过20,627,100股境外上市普通股并在香港联合交易所上市。 值得关注的是，这已是挚达科技第二次叩响港股资本市场的大门。早在2024年2月，该公司便首 次递交港股招股书，后失效。但短短9个月后，即2024年11月，其团队迅速重整旗鼓再次递交申 请。 汽车充电桩"一哥" 十年前，挚达科技 成为特斯拉首批官方指定的私人家用充电桩安装服务商 ，正式踏入了新能源汽 车充电设备领域。 挚达科技从一间仅有几十平方米的办公室启程，历经多年，如今已蜕变 ...

5月22日，A股三大指数涨跌不一，半导体、通信、充电桩等成长板块涨幅居前。主流宽基ETF中， A500指数ETF（159351）盘中成交活跃，截至发稿成交额已突破5亿元，换手率超3.5%，溢折率 0.02%，盘中频现溢价交易。 成分股中，昆仑万维涨超6%，闻泰科技涨超4%，盈峰环境、士兰微、石头科技、沪硅产业等多股跟 涨。 值得一提的是，Wind数据显示，昨日（5月21日）资金回流A500指数ETF（159351），该ETF获超2300 万元资金净流入，最新规模达到143.79亿元。 A500指数ETF（159351）紧密跟踪新一代标杆指数中证A500指数，该指数优选各行业市值代表性强、 表征行业龙头的500只股票，兼顾大市值的同时均衡覆盖A股各行业核心龙头资产。据Wind数据显示， 该指数在电子、电力设备、医药生物、计算机行业的权重合计超32%，成长属性更强，实现了"核心资 产"与"新质生产力"的双轮驱动。A500指数ETF（159351）还配备了场外联接基金（A类022453；C类 022454）。 （本文机构观点来自持牌证券机构，不构成任何投资建议，亦不代表平台观点，请投资人独立判断和决 策。） 消息面 ...

Group 1 - The core viewpoint of the articles emphasizes that smart charging is a crucial part of the automotive intelligence ecosystem, with the launch of the new generation of automatic charging robots by Zhida Technology, named "LingSnake SmartLink" [1] - Zhida Technology's automatic charging robots will reshape the interaction between people, vehicles, and charging stations, aligning with the company's 2.0 strategic direction focused on intelligence [1] - The automatic charging robots are set to be commercialized in various scenarios, including a collaboration with Alipay for an AI automatic charging and contactless payment project [1] Group 2 - Numerous domestic and international companies, including Tesla, Huawei, and Xiaomi, are enhancing smart charging technologies, moving from single-function devices to interactive and adaptive systems [2] - Zhida Technology has been developing core technologies for automatic charging robots since 2016, with successful implementations in over 100 global application scenarios [2] - Zhida Technology has submitted a listing application to the Hong Kong Stock Exchange, aiming to issue approximately 20.63 million shares, with a pre-IPO valuation of around 3 billion yuan [2]

Core Viewpoint - The launch of the "Ling Snake SmartLink," a new generation of automatic charging robots by Zhida Technology, marks a significant technological breakthrough and industry innovation, aiming to reshape the interaction between people, vehicles, and charging stations, aligning with the company's strategic focus on intelligent solutions [1][6]. Industry Overview - The Chinese automotive industry has transitioned from electric vehicle (EV) awareness to leading in smart technology over the past 15 years, with a notable increase in EV adoption post-2015, driven by strategic developments and the opening of production qualifications [4]. - By 2024, the penetration rate of new cars meeting L2 standards in China's passenger car market is expected to rise from 52.1% in 2023 to 59.7%, with nearly 70% of mid-to-high-end models priced above 100,000 yuan meeting this standard [4]. Technological Advancements - The automatic charging sector is evolving rapidly, with automation in driving, parking, and energy replenishment becoming increasingly feasible across various scenarios, including highways and smart communities [5]. - Zhida Technology has invested in core technology development since 2016, establishing a 2.0 strategic goal focused on global, digital, and intelligent advancements in automatic charging technology [6]. Product Launch and Features - The "Ling Snake SmartLink" is the sixth generation of Zhida's snake-shaped flexible arm automatic charging robot, featuring a unique rope-driven flexible arm structure that offers cost efficiency, strong environmental adaptability, precision in connection, and safety [6][11]. - The company has successfully implemented its automatic charging robots in over 100 global applications, including locations like Hong Kong Airport and Qatar Science Park, indicating a growing demand for automatic charging solutions as autonomous driving technology expands [11]. Market Position and Global Expansion - Zhida Technology has shipped over 1.7 million charging stations, holding a 15.6% market share in China and a 9.5% share globally, with a complete production, sales, and service system established for overseas operations [12]. - The company has initiated a global expansion strategy, achieving dual certification for European and American standards and covering over 20 markets, with plans to localize manufacturing capabilities in regions like the Middle East and South America [12][13]. Future Outlook - Zhida Technology is entering a new phase of accelerated global expansion, focusing on a dual-driven strategy of domestic and international market synergy, alongside intelligent charging and green energy management [13]. - The company aims to leverage its position as a leader in the smart charging sector to contribute to global energy transition and carbon neutrality goals through innovation and capital empowerment [13].

Core Viewpoint - The company, Youyou Green Energy, is facing significant challenges including declining profits, reliance on major clients, cash flow issues, and potential governance concerns, which may impact its upcoming IPO and future performance [2][3][4][5][6][7][9]. Group 1: Financial Performance - In 2024, the company's revenue increased by 8.86% to 1.497 billion yuan, but net profit fell by 4.6% to 256 million yuan, with a 14.66% decline in Q1 2025 [2]. - External sales revenue plummeted by 31.04% in 2024, while external gross margin was significantly higher at 50.17% compared to 24.09% for domestic sales, indicating a structural imbalance in the business [2]. Group 2: Client Dependency and Related Transactions - The top two clients, ABB and Wanbang Digital, contributed over 30% of revenue, with ABB's procurement dropping from 275 million yuan in 2022 to less than 100 million yuan in 2024, raising regulatory concerns about "equity for orders" [3]. Group 3: Cash Flow and Accounts Receivable - Operating net cash flow in 2024 fell by 60.41%, diverging significantly from net profit trends, while accounts receivable as a percentage of revenue increased from 38.73% in 2021 to 43.24% in 2024 [4]. - Accounts receivable from Wanbang Digital reached 122 million yuan and 96.1 million yuan in 2023 and 2024, respectively, accounting for 26.30% and 14.02% of total accounts receivable [4]. Group 4: Investment Project Viability and Capacity Risks - The utilization rate of charging module capacity decreased from 80.41% in 2022 to 69.56% in 2024, despite plans to raise 270 million yuan for expansion, raising questions about the necessity of fundraising [5]. - Revenue from 40kW charging modules surged from 3.47% in 2022 to 49.48% in 2024, while the 60kW liquid-cooled module is still in development, posing risks of rapid depreciation of existing capacity if technology upgrades fall short [5]. Group 5: R&D Investment and Production Model Risks - R&D expense ratio from 2021 to 2024 ranged from 4.99% to 7.31%, significantly below the industry average of 9% to 13%, with the number of R&D personnel at 293, half of the industry average [6]. - Over 85% of production processes rely on external manufacturers, which may lead to supply chain control risks compared to peers that outsource only part of their processes [6]. Group 6: Disclosure Issues and Governance Structure - The prospectus states that the 40kW/60kW liquid-cooled modules are still in the "pilot phase," while the company's website claimed commercialization as early as 2022, potentially indicating false statements [7]. - Xiaomi's sudden investment in 2022 led to a 257% increase in valuation, coinciding with a 51% drop in ABB's procurement, raising questions about governance and the timing of stock incentives for executives [7]. Group 7: Industry Competition and Policy Uncertainty - By the end of 2024, the coverage rate of charging piles on national highways reached 98%, with major cities at 85%, indicating that growth opportunities are concentrated in lower-margin third and fourth-tier markets [8]. - The proportion of external sales revenue dropped from 51.65% in 2022 to 28.3% in 2024 due to fluctuating policies in Europe and the US, along with increased tariff barriers, raising concerns about the sustainability of high-margin businesses [9].

Core Viewpoint - The company aims to maintain its technological advantage in the competitive renewable energy sector through multi-dimensional strategies including R&D, collaboration, and customer-oriented solutions [1][2]. Group 1: Technological Advantage - The company focuses on core areas to enhance technology iteration, developing high-precision, low-energy consumption power supply equipment [1]. - It aims to optimize power supply performance in key semiconductor processes and explore breakthroughs in third-generation semiconductor manufacturing [1]. - The company is committed to creating customized solutions based on customer needs and establishing a rapid response mechanism for special processes [1]. Group 2: Cost Control and Efficiency - In 2024, the company implemented various measures for cost control, including using standard parts to reduce costs from the design phase [2]. - It has established long-term relationships with suppliers to ensure reasonable procurement costs and optimized manufacturing processes to control costs effectively [2]. - Future plans include further optimizing the cost structure through supply chain collaboration and smart manufacturing upgrades [2]. Group 3: Business Strategy and Growth - The company prioritizes semiconductor and electronic materials as key growth areas, with significant potential for revenue generation [2][6]. - The semiconductor business is expected to grow, with 2024 revenue from this sector reaching 3.5 billion, accounting for 19.69% of total revenue [4]. - The company has set a long-term revenue target of 5 billion within 3-4 years, despite current challenges in the photovoltaic sector [4]. Group 4: Market Opportunities - The company is exploring the hydrogen production sector, which has significant growth potential due to increasing global demand for clean energy [13]. - It is also expanding its presence in traditional industries such as steel metallurgy and glass fiber manufacturing, which may lead to substantial revenue growth [13]. - The company is actively pursuing international market opportunities, with positive sales performance in overseas photovoltaic orders [16]. Group 5: Financial Health and Future Outlook - The company's asset-liability ratio stands at 48.44%, indicating a stable financial position within the industry [12]. - The company is focused on managing accounts receivable and project acceptance to mitigate risks associated with the photovoltaic sector's downturn [18]. - The overall financial risk is considered manageable, with ongoing efforts to enhance revenue recognition and project execution [18].

《中国汽车报》： 从行业宏观角度来看，目前我国充电设施建设的整体规模与发展速度如何？与其他国家相比，处于怎样的水平？ 近日，在第十一届中国国际电动汽车充换电产业大会期间，光储充换产业联盟副秘书长王成名接受《中国汽车报》记者采访，围绕中国充电设 施发展现状、充电桩下乡、车网互动等话题进行了深入剖析。 王成名：可以说，中国充电设施建设已经跑出了"加速度"。截至今年3月，全国新能源汽车保有量超过3000万辆，充电桩总量接近1400万台，车桩比接 近2:1，覆盖90%以上的城市，年增速超过30%，这个速度是欧美国家的两倍以上。 从全球来看，我们的规模和政策支持力度绝对领先，但在超充技术普及、车网互动标准统一等方面，还需要向欧美日韩"取经"。目前，国内有慢充、超 快充、换电三套标准，行业协会正推动国内标准统一。与此同时，我们不仅要埋头搞技术研发，还要推动"中国标准"走向世界，与国际标准例如欧盟对接， 让全球市场看到我们的模式。 《中国汽车报》： 国内充电桩运营商数量众多，但盈利是一大难题，应该如何解决？ 王成名：目前70%的运营商毛利率仅为5%，核心问题是周转率低，行业平均不足10%，桩多车少导致资源浪费。对此，要从单 ...

四月份国民经济数据显示，我国经济在复杂环境下展现出显著韧性，主要经济指标实现平稳较快增长。 面对外部冲击影响加大、内部困难挑战叠加的局面，生产需求保持平稳增长，就业形势总体稳定，新动 能积聚成长。 从生产供给角度看，四月份全国规模以上工业增加值同比增长6.1%，环比增长0.22%，这一增速在去年 以来月度数据中表现较为突出。服务业生产指数同比增长6.0%，达到今年以来月度增速的次高水平。 国内需求方面呈现积极变化。消费品以旧换新相关商品销售大幅增长，对零售总额增长起到明显支撑作 用。限额以上单位家用电器和音像器材类商品零售额同比增长38.8%，今年以来持续提速。文化办公用 品类、家具类、通讯器材类商品零售额同比分别增长33.5%、26.9%和19.9%，均明显快于商品零售总体 增速。 来源：金融界 高技术服务业投资同比增长11.3%，科技创新和产业创新加快融合，对高技术服务需求扩大。这些数据 表明，我国经济结构持续优化，新质生产力培育取得积极进展。 房地产市场方面，四月份全国70个大中城市房价总体稳定，一、二、三线城市房价同比降幅均持续收 窄。房地产市场交易和价格基本稳定，继续朝着止跌回稳方向迈进。 我国经济 ...

此外，导航定位系统也是此次巡视的重要内容。在当今智能化出行的时代，准确的导航定位能帮助车主 快速找到充电桩。工作人员对充电桩的导航定位功能进行了测试，确保其定位精准无误，以便为后续前 来充电的车主提供准确的引导。 "我们开展常态化巡视检查工作，可以及时发现充电设备的问题，及时消除隐患，让广大新能源车主畅 行无忧。"工作人员介绍。 据了解，杭州龙源电力有限公司综合能源中心此次节后充电桩巡视工作，充分展现了公司对充电设施运 维管理的高度重视。通过全面细致的检查，及时发现并排除潜在的安全隐患，为广大车主营造了一个安 全、便捷的充电环境。同时，该公司还融合纪检+服务模式，倡导合规管理，树立风清气正的工作作 风。未来，该公司将继续加强对充电桩的日常巡检和维护工作，不断提升服务质量，助力绿色出行。 (陈东) 工 作人员检查充电桩。陈东摄 当日，综合能源中心的工作人员早早来到建德高速服务区充电区域，有条不紊地展开各项检查工作。环 境卫生是此次巡视的重点之一，工作人员仔细清理了充电桩周边的杂物，确保充电区域干净整洁，无垃 圾堆积影响设备正常运行。 充电枪接口的检查至关重要。工作人员逐个对充电枪进行细致查看，检查接口是否松动、 ...

从国内需求看，消费品以旧换新相关商品销售大幅增长，对社会消费品零售总额的增长和支撑作用比较 明显。其中，限额以上单位家用电器和音像器材类商品零售额同比增长38.8%，今年以来持续提速增 长。投资方面，"两重""两新"政策效应持续显现，投资规模持续扩大。在大规模设备更新接续推动带动 下，1～4月份设备工器具购置投资同比增长18.2%，对全部投资增长的贡献率达64.5%。 此前公布的外贸进出口数据则表明，尽管国际环境急剧变化，外部冲击影响加大，我国仍在加大外贸多 元化发展，积极开拓与共建"一带一路"国家贸易，推动外贸保持平稳增长。1～4月份，我国货物进出口 总额同比增长2.4%，比一季度加快1.1个百分点。 北京师范大学教授万喆对记者表示，4月份，我国经济在复杂的国际环境中，尤其是在关税战持续升级 的背景下，部分核心经济指标呈现稳中有进的运行态势，展现了经济韧性。同时，已经公布的4月份数 据还体现了我国经济在挑战中持续培育新的动能。 国家统计局数据显示，4月份，规模以上高技术制造业增加值同比增长10%，其中，航空航天相关设备 制造、集成电路制造增加值分别增长21.4%和21.3%。同期，规模以上数字产品制造业增加 ...