Core Insights - ECX has announced a collaboration with a leading global technology company to provide core perception solutions for its smart lawn mower business, aiming for mass production by 2026 [2] - This partnership marks ECX's entry into the promising field of embodied intelligence, creating a new strategic growth area beyond automotive intelligence [2] - The collaboration will utilize ECX's solid-state 3D LiDAR technology as the core environmental perception sensor for the smart robot, enhancing autonomous navigation, obstacle avoidance, and task execution capabilities [2] Company Statements - The CEO of ECX emphasized the significance of this collaboration, highlighting it as a validation of the company's industry-leading position and competitiveness in LiDAR products [3] - The CEO expressed optimism about forming a new growth trajectory based on innovation and indicated plans to collaborate with more cross-industry technology partners to advance LiDAR technology and product optimization [3] - ECX aims to leverage its LiDAR solutions and R&D capabilities to contribute to the ongoing development of the embodied intelligence sector as application scenarios diversify [3]

Core Insights - ECX has formed a new market expansion in the smart technology sector, collaborating with a leading global tech company for the production of solid-state 3D LiDAR products, aiming for global mass production by 2026 in the burgeoning embodied intelligence industry [1][5] - Embodied intelligence, a frontier field combining AI and robotics, emphasizes dynamic interaction between intelligent agents and their environment, leading to autonomous learning and evolution [1] - LiDAR technology is crucial for embodied intelligence, providing high-precision environmental perception essential for autonomous navigation, object manipulation, and human-robot collaboration [1] Company Overview - ECX, founded in 2017 and listed on NASDAQ in 2022, operates 12 global centers across China, the UK, the US, Sweden, Germany, and Malaysia [6] - The company was co-founded by Eric Li, founder of Geely, and CEO Shen Ziyu, and serves numerous global automotive brands, including Volkswagen Group, FAW, and Volvo Cars, with over 8.7 million vehicles equipped with its technology [6] Product Development - The self-developed short-range solid-state LiDAR by ECX operates at a wavelength of 905nm, featuring a solid-state design with no mechanical parts, ensuring stability and reliability [3] - The LiDAR has a detection range of up to 60 meters and utilizes a custom high-resolution SPAD sensor for clear imaging, significantly enhancing robots' environmental perception capabilities [3] - The company plans to increase R&D investment to improve LiDAR performance and expand applications in automotive intelligence and embodied intelligence [3][5]

"我们的全天候智能激光除草机器人正在黑龙江的农场试跑，它在农田里一边移动，一边用激光精准清除杂草……"这是华工激 光研发的国内首台全天候智能激光除草机器人，可实现在不同光照和天气条件下快速识别小型、密集杂草群，不用化学药剂有 效除草，对绿色农业可持续发展具有重要意义。 图为华工科技除草机器人。新华网发近年来，华工科技产业股份有限公司通过"技术自主+场景深耕"不断提升全球竞争力，赋能 千行百业，实现了从"做不了"到"做得好"、从"买全球"到"卖全球"、从校办企业到行业龙头的转变。16日，华工科技产业股份有 限公司党委书记、董事长、总裁马新强率公司高管及技术人才代表组成"华工科技理工男团"，携手新华网完成了一场特别直 播，讲述了华工科技在智能制造业务、感知业务和联结业务等领域的创新及成果。"国产替代不是'平替'，是中国式创新的价 值""20多年前，我和同事到韩国出差，机场内外都是国外品牌的广告，没有一家中国企业。20年沧桑巨变，现在随便去哪个发 达国家，都能看到中国品牌的标识、广告。"直播现场，马新强的分享引人深思。对于许多人把国产替代等同于平替的说法，他 认为，"平替"体现的是价格优势，而国产替代则展示的是价值 ...

如何展望后续港股走势？20250624 摘要 港股市场受益于前期海外流动性宽松，中小标的和主题性投资活跃，但 市场有能力容纳未来预计上市的 100-200 家 AH 股及美股回归公司，政 策和流动性投放对港股形成托底支持。 港府及证监会对资本市场重视程度提升，政策支持力度增强，为港股提 供稳定基础，使其在外部扰动下仍保持强势，如面对贸易战时亦能反弹 回升。 中长期看好互联网、智能驾驶、新消费等产业方向，如泡泡玛特、老铺 黄金等企业展现全球化潜力，AI 技术推动小米等公司估值提升，创新药 领域亦具成长空间。 推荐腾讯、阿里巴巴等互联网巨头，以及阿尔法逻辑强劲的小米。新消 费领域关注泡泡玛特、老铺黄金等品牌，这些企业通过技术突破和全球 化战略实现增长。 市场对小米新车发布抱有高度期待，预计大单销量可达 25 万辆，月销 量 4 万辆，有望推动股价上涨。长期看好小米在汽车、IoT、手机及机器 人等领域的多元发展。 Q&A 今年以来港股市场表现如何？ 今年以来，港股市场表现非常亮眼。从全球市场来看，港股的收益排名前列。 今年整体的港股市场新股和 IPO 项目较多，加上南下资金不断买入和交易港股， 使得成交量和活跃度都 ...

新股探寻（影石创新、思看科技、汉朔科技、泰禾股 份）20250624 摘要 影石创新全景相机全球领先，市占率达 67.2%，线上线下销售均衡，线 下与苹果深度绑定。2023 年全球手持智能影像设备市场规模达 364.7 亿人民币，年增速 14.3%，全景相机市场 50.3 亿人民币，未来全景与 运动相机融合及新兴领域应用将扩大市场。 思康科技是工业级 3D 激光扫描仪龙头，国内市场占有率第一，全球第 二，与比亚迪、宝马等合作。2022-2024 年营收分别为 2.1 亿、2.7 亿、 3.3 亿元，年均增速 20%-30%，归母净利润分别为 0.8 亿、1.1 亿、 1.2 亿元，毛利率和净利润率较高，一季度收入和净利润增长均超 20%。 汉朔科技是全球第三大电子价签供应商，国内市占率约 12%，产品覆盖 50 多国，服务超 400 家客户。预计 2028 年全球电子价签市场规模达 350 亿元人民币。欧美市场渗透率高，受益于人工成本上升、通货膨胀 及商店竞争，公司与泡泡玛特合作提升市场关注度。 汉朔科技 2022-2024 年营收从 28 亿增至 44.9 亿元，年均增速超 20%，归母净利润分别为 2.1 ...

Core Viewpoint - The CEO of SUTENG JUCHUANG expresses confidence in the company's performance in the second half of 2025, driven by increased sales of automotive lidar products due to head clients' growth [2][5]. Financial Performance - In Q1 2025, SUTENG JUCHUANG reported revenue of 330 million RMB, a decrease of 31 million RMB from 361 million RMB in the same period last year [3][4]. - Revenue from ADAS applications was 229 million RMB, down from 306 million RMB year-on-year, while revenue from robotic lidar products increased by 87% to 73.4 million RMB [3][5]. - Gross profit for Q1 2025 was 77 million RMB, up 73.1% from 44.5 million RMB in the previous year, with a gross margin of 23.5%, an increase of 11.2 percentage points [4]. Business Segments - The decline in ADAS revenue was attributed to reduced cooperation with two major clients, which previously accounted for 60% of total revenue [5][11]. - The company anticipates strong growth in logistics and garden robot sectors, with significant orders already secured, including a 1.2 million unit order with Mammotion [5][13]. - The company aims to achieve breakeven in a quarter of the second half of 2025 and expects to be profitable in 2026 [5][12]. Innovation and R&D - SUTENG JUCHUANG plans to invest approximately 250 million RMB in innovative business areas in 2024, representing 41% of total R&D expenses, focusing on robotics and AI technologies [7][23]. - The company has established partnerships with over 20 humanoid robot companies, indicating a strategic shift towards humanoid robotics, which is expected to have a market size ten times that of the automotive sector [8][25]. Market Outlook - The company expects overseas revenue to significantly increase by 2026, as current contributions are minimal due to the need for trust-building with international clients [6][22]. - The automotive lidar market is projected to expand as the technology becomes more accessible, with prices dropping below 200 USD, facilitating adoption in lower-priced vehicles [15][16].

Core Insights - Easy-Laser has launched the new digital belt alignment tool XT190BTA, which addresses traditional maintenance challenges and enhances production efficiency and energy savings in the industrial sector [1][5]. Group 1: Importance of Belt Alignment - Precise alignment of pulleys is crucial for the stable operation of equipment, as misalignment can lead to energy waste and equipment damage [3]. - Common misalignment issues include: 1. Twisted misalignment, causing abnormal friction and wear on belts [3]. 2. Angular misalignment, leading to uneven tension on belts and accelerated wear [3]. 3. Offset misalignment, which diverts belts from their normal path, affecting equipment stability [3]. Group 2: Features of XT190BTA - The XT190BTA redefines industry standards with three core advantages: 1. Digital operation, enhancing precision and efficiency [6]. 2. High efficiency and convenience, allowing for single-person operation [6]. 3. Flexibility in installation methods, suitable for various types of belts [8]. Group 3: Preventive Maintenance Upgrade - Easy-Laser advocates for a scientific maintenance system that includes: 1. Real-time display of misalignment and angle values, accessible via mobile devices or screens [8]. 2. Automatic calculation of adjustment values to meet manufacturer tolerances [8]. 3. Significant time and labor cost savings due to single-person operation [8]. 4. Energy conservation through precise alignment, extending the lifespan of belts and pulleys [8]. Group 4: Maintenance Recommendations - Regular maintenance practices include: 1. Monthly basic checks and comprehensive maintenance every 6-12 months [9]. 2. Maintaining equipment cleanliness and using professional tools like XT190BTA for alignment [9]. 3. Recording data on energy consumption and operational status to optimize maintenance strategies [9].

证券代码：000988 证券简称：华工科技 华工科技产业股份有限公司 投资者关系活动记录表 编号：2025-06 日期：6 月 22 日 | 投资者关系活动 |  特定对象调研 |  | 分析师会议 |  | 媒体采访 | | --- | --- | --- | --- | --- | --- | | 类别 |  业绩说明会 |  | 新闻发布会 |  | 路演活动 | | |  现场参观 |  | 其他 | | | | 参与单位名称及 | 1、 嘉实基金 | | 胡永青、孟丽婷、陈俊杰 | | | | 人员姓名 | 2、 华夏基金 | 郭琨研 | | | | | | 3、 博时基金 | 谢泽林 | | | | | | 4、 建信基金 | 周紫光 | | | | | | 5、 德邦基金 | 董纯 | | | | | | 6、 财通资管 | 李晶 | | | | | | 7、 国金基金 | 范亮 | | | | | | 8、 太平洋资管 | 张晓辉 | | | | | | 9、 申万菱信基金 | 范张翔 | | | | | | 10、富安达基金 | 朱凯 | | | | | | 11、长盛基金 ...

华工科技 20250622 摘要 科技股估值修复：经历十年消化，科技公司估值已显著降低，市盈率普 遍较低，与 2015 年前后高估值情况形成鲜明对比，具备投资吸引力。 AI 产业迎来 20 年来一遇的机遇：海外算力需求预计今年增长 50%以上， 北美科技巨头 800G 和 1.6G 需求大幅增长，国内端侧 AI 应用如折叠屏 手机和自动驾驶等亦将推动行情发展。 华工科技在 AI 产业集群中表现突出：公司业务涵盖激光设备、光模块及 消费电子光学产品，在算力领域领先，积极开拓海内外市场，并受益于 改制后的制度优势。 光模块业务高速增长：400G 以上光模块月订单达 90 万支，销售收入约 6 亿元，海外大客户突破顺利，800G D28 LPO 及 1.6T 型号性能领先， 预计三季度获得首发订单。 传感器业务市场份额提升：国内比亚迪市场份额显著增加，赛力斯全面 采用公司热管理系统，预计热管理系统增量保持 40%增速，并积极拓展 欧洲市场。 从 2022 年下半年开始，A 股市场进入了一个以科技风格为主导的三年周期。 过去十年间，虽然科技股有一定表现，但并未形成整体板块式的主导行情。 2013 至 2015 年的科 ...

Core Insights - The Future Technology Innovation Research Institute in Wuhan has successfully launched China's first domestically produced hydrogen internal combustion engine generator set, achieving 100% localization of key components [1][2] - The institute focuses on bridging the gap between scientific research and industrial application, emphasizing the importance of transforming research outcomes into commercial products [1] - The institute has established a comprehensive service system for technology transfer, including R&D in universities, concept validation, pilot testing, and industrial implementation [1] Summary by Sections - **Hydrogen Internal Combustion Engine Project**: The hydrogen internal combustion engine technology, developed over 40 years by universities, has transitioned from laboratory to commercial operation through the Future Institute's pilot testing [2] - **Incubation and Support**: The Future Institute has incubated 10 technology enterprises and facilitated over 1 billion yuan in financing, demonstrating its effectiveness in supporting startups [3] - **Collaborative Mechanism**: The institute has created a collaborative mechanism to address financing challenges for projects, providing R&D space and initial funding to attract social capital [1][2]