■ Q：关注到公司与金帝股份签署了战略合作框架协议，未来对 公司业务发展有何影响？ 证券代码：300681 证券简称：英搏尔 珠海英搏尔电气股份有限公司 投资者关系活动记录表 编号：2025-004 | | □特定对象调研 | | □分析师会议 | | | --- | --- | --- | --- | --- | | 投资者关系活动 | □媒体采访 | ☑ | 业绩说明会 | | | 类别 | □新闻发布会 | ☑ | 路演活动 | | | | □现场参观 | | | | | | | □其他（请文字说明其他活动内容） | | | | 参与单位名称及 | 中信建投证券 | 西南证券 | 华创证券 | 中信证券 | | 人员姓名 | 国投证券 | 浙商证券 | 西部证券 | 东方证券 | | | 东莞证券 | 东方财富证券 | 国信证券 | 国元证券 | | | 华安证券 | 华西证券 | 华源证券 | 开源证券 | | | 华福证券 | 联储证券 | 上海证券 | 申万宏源证券 | | | 甬兴证券 | 长江证券 | 中金公司 | 创金合信基金 | | | 泓德基金 | 平安基金 | 泰信基金 | 万家基金 ...

瑞财经 刘治颖近日，轾驱（上海）科技有限公司（以下简称：轾驱科技）宣布完成A+轮融资交割，公 司根据业务发展需求，连续完成A轮和A+轮融资，总额超过亿元人民币。 A轮融资由兴泰资本领投，兴泰创投与国鑫资本共同参与，老股东清控银杏持续加持；A＋轮融资由一 二五产业基金领投。 本次融资将主要用于轾驱科技第四代扁线定转子产品产线建设、新一代多合一电驱动总成产线建设及产 能提升，推动了新业务项目交付，并进一步拓展市场布局。 轾驱科技致力于为各新能源应用场景提供电驱系统解决方案一站式服务，目前已经为多家国内头部车企 的新能源车型及十多家eVTOL电动垂直起降飞行器公司提供电驱动系统及核心部件。公司产品谱系覆 盖了纯电驱动系统到混合动力系统，电机功率段从30kw到250kw，有风冷、水冷和油冷的全系总成产品 及电机定转子产品。 公司总部位于上海浦东新区，在全国布局了多个生产制造基地，2024年柳州基地建成，8月开始实现大 批量出货，2025年9月在合肥建成的第二个生产制造基地开始大批量出货。目前轾驱科技已经形成了40 万套纯电驱动系统及20万套混合动力箱、70万套圆线、扁线定转子的生产能力。 天眼查显示，轾驱科技成立于2 ...

Group 1 - The company, United Power, is set to issue shares at a price of 12.48 yuan with a total market value yet to be disclosed [2] - The company has a price-to-earnings ratio of 32.87, indicating its valuation relative to earnings [2] - United Power is one of the earliest companies in China to launch an 800V high-voltage SiC drive platform, positioning itself as a leader in the industry [2][3] Group 2 - The company has provided power system solutions for over 170 vehicle models, including those from Li Auto, GAC Group, Xiaomi Auto, and Volvo [3] - Revenue from overseas markets is expected to grow rapidly, projected to reach 769 million yuan in 2024, reflecting a significant increase [3] - The company reported revenues of 16.178 billion yuan in 2024, representing a growth of 72.74%, with previous years showing revenues of 9.365 billion yuan in 2023 (+86.30%) and 5.027 billion yuan in 2022 (+73.20%) [3] Group 3 - The company plans to use the raised funds for the production of core components for new energy vehicles, the establishment of a research and development center, and to supplement working capital [3] - The company, Wu Chuang Rui Tong, has an issuance price of 21 yuan and a low winning rate of 0.02% [5] - Wu Chuang Rui Tong's total market value is 1.724 billion yuan, with a price-to-earnings ratio of 21.02, indicating its market valuation [6]

Group 1 - The core viewpoint is that the AITO M8 series, including the extended-range version and the upcoming pure electric version, is gaining significant market traction due to its performance and technological features [1][2][4] - The AITO M8 extended-range version has maintained an average monthly delivery of over 20,000 units since its launch in April, ranking among the top in the market for vehicles priced above 400,000 yuan in China [1] - The AITO M8 pure electric version has received over 15,000 pre-orders within 72 hours of its announcement, indicating strong consumer interest prior to its official market launch [1] Group 2 - The AITO M8 extended-range version is designed to meet family vehicle needs, balancing performance, energy consumption, and comfort, featuring the Huawei DriveONE range-extending power system with a comprehensive range of 1,526 kilometers and a 0-100 km/h acceleration time of 5.2 seconds [2] - The vehicle employs a four-wheel drive architecture with asynchronous front and synchronous rear motors, optimizing gear and active lubrication technologies to reduce electromagnetic losses and improve energy efficiency [2] - Safety and comfort features include the Huawei DriveONE dynamic adaptive torque system, which adjusts torque based on real-time road conditions, enhancing vehicle stability and improving ride comfort by 90% in braking smoothness [2] Group 3 - The AITO M8 pure electric version will be the first to feature the Huawei DriveONE high-voltage seven-in-one motor, which boasts advanced integration, energy efficiency, and NVH performance [4] - Huawei DriveONE has been continuously developing electric drive systems since 2020, achieving a 92% efficiency for its silicon carbide electric drive assembly in 2023, and aims for a "10 kilometers per kilowatt-hour" energy consumption performance in 2024 [6] - By the first half of 2025, Huawei DriveONE is projected to rank second in the industry for electric drive product installations, leading among independent suppliers [8]

Core Viewpoint - Wolong Electric Drive has officially launched its Hong Kong IPO journey following the release of its complete prospectus, positioning itself as a key player in the robotics and electric drive systems market [1] Company Overview - Wolong Electric Drive is a global leader in electric drive system solutions, focusing on research, production, sales, and services across five core business segments: explosion-proof electric drive systems, industrial electric drive systems, HVAC electric drive systems, new energy transportation electric drive systems, and robotics components and systems [2] - The company has achieved revenues of approximately 14.27 billion, 15.57 billion, and 16.25 billion yuan from 2022 to 2024, with net profits of 839 million, 553 million, and 832 million yuan respectively [2] Market Position - In specific electric drive market segments, Wolong Electric Drive ranks first in the global explosion-proof electric drive system market with a market share of about 4.5%, fourth in the industrial electric drive system market with a 2.8% share, and fifth in the HVAC electric drive system market with a 2.0% share [3] International Expansion - The company has established a significant overseas presence through acquisitions of various electric drive companies, particularly in Europe and the U.S., starting with the acquisition of Austria's ATB Group in 2011 [4] - Wolong Electric Drive has integrated several domestic and international electric drive enterprises, enhancing its global footprint and focusing on electric drive business by divesting non-core operations [4] Robotics Business - Although the robotics segment currently represents a small portion of the company's overall business, it has garnered significant market attention due to strategic partnerships and acquisitions [5][6] - The revenue from the robotics components business for 2022 to 2024 is projected to be 355 million, 406 million, and 451 million yuan, accounting for 2.5%, 2.6%, and 2.8% of total revenue respectively [6] Industry Trends - The trend of robotics companies seeking listings in Hong Kong has gained momentum, with several firms successfully completing their IPOs, which has bolstered confidence in the market [7] - Notable IPOs in the robotics sector, such as that of Sanhua Intelligent Controls, have achieved significant oversubscription rates and strong post-IPO performance, influencing other companies to pursue similar paths [7]

Core Viewpoint - The company plans to use up to RMB 100 million of idle raised funds to temporarily supplement working capital, ensuring that it will only be used for business expansion and daily operations related to its main business, without affecting the normal investment plan of the raised funds [1][4][5] Summary by Sections 1. Basic Situation of Raised Funds - The company issued 147,555,000 shares at a price of RMB 1.00 per share, raising a net amount of RMB 1,854,736,926.64 after deducting various fees totaling RMB 178,570,973.36 [1][2] 2. Previous Use of Idle Funds - The company previously used up to RMB 150 million of idle raised funds to temporarily supplement working capital, which was returned by August 6, 2025 [2][3] 3. Investment Projects of Raised Funds - The total investment amount for the projects was RMB 200,181 million, with an adjusted planned use of raised funds amounting to RMB 185,473.69 million [3] 4. Plan for Temporary Use of Idle Funds - The company intends to use idle funds through a special account for a period not exceeding 12 months, ensuring that it will not affect the investment projects [4][5] 5. Review Procedures - The board and supervisory committee approved the use of idle funds, confirming compliance with relevant regulations and ensuring no impact on the investment projects [5][6] 6. Special Opinions - The supervisory committee and the underwriting institution agree that the temporary use of idle funds will enhance efficiency and reduce financial costs, aligning with the interests of the company and shareholders [5][6]

Core Viewpoint - Kunteng Tech (Chengdu) Co., Ltd. has recently completed a nearly 100 million RMB financing round led by Panlin Capital, with participation from Chengdu Sibaiyi and Derun Jia [2] Company Overview - Kunteng Tech is a high-tech enterprise focused on innovation and product development in electric drive system technology. The company has developed software-defined super electric drive technology, significantly enhancing power density, energy efficiency, and reliability. Its products are widely used in new energy vehicles, robotics, and electric vertical takeoff and landing aircraft (eVTOL), with successful mass production achieved in collaboration with several leading automotive companies [3] - The company is actively expanding its high power density, rare-earth-free, and non-rare-earth synchronous electric drive technology, which is expected to enter commercial application by 2025, further solidifying its technological leadership in the electric drive system field [3] Financing Purpose - The funds from this financing round will primarily be used for the industrialization of high-performance intelligent multi-phase rare-earth-free electric drive technology, production line expansion, and diversification of market scenarios. The company aims to accelerate technological innovation, optimize product performance, and expand market applications, providing more efficient and reliable power solutions to support the rapid development of industries such as new energy vehicles and robotics [4] Investment Rationale - Panlin Capital views Kunteng Tech as having achieved a technological position in the domestic and international electric drive industry due to its unique electric drive algorithms. The company demonstrates strong technical capabilities in the new energy vehicle sector while actively expanding into emerging fields such as robotics and eVTOL, showcasing significant market potential. Panlin Capital is optimistic about Kunteng Tech's innovation capabilities and development prospects, anticipating the launch of more cost-effective, intelligent, and lightweight products during its commercialization process [5] Investment Perspective - The recent financing round for Kunteng Tech is considered a significant breakthrough in the electric drive system field. The rapid development of the new energy vehicle industry has created a strong demand for efficient and reliable electric drive systems, supported by government policies promoting related technology research and application. Kunteng Tech's leading technology and strong R&D capabilities have garnered high recognition from the capital market. This investment not only provides substantial financial support for the company but also lays a solid foundation for its future development. From a venture capital ecosystem perspective, this represents a perfect combination of technology and capital, reflecting the support of venture capital institutions for cutting-edge technologies while providing the financing party with opportunities for technological innovation and market expansion [6]