（原标题：科瑞技术(002957.SZ)：目前有直接或间接为国内外品牌客户提供人形机器人髋部、四肢、骨架、关节等部位或固定支架相关的精密零 部件） 格隆汇1月6日丨科瑞技术(002957.SZ)在互动平台表示，在人形机器人领域，公司具备提供非标精密零部件及相关模组能力，具备提供机器人零部 件组装和测试自动化设备的能力。目前有直接或间接为国内外品牌客户提供人形机器人髋部、四肢、骨架、关节等部位或固定支架相关的精密零 部件。公司始终致力于紧跟下游各品牌客户的发展步伐，积极布局机器人相关领域更多业务机会。 ...

证券日报网讯12月18日，肇民科技（301000）在互动平台回答投资者提问时表示，公司积极响应客户需 求，与客户共同成功开发多个人形机器人精密零部件新品。截至目前，相关业务进展顺利，但营收占比 还较小。公司将严格按照相关规定履行披露义务。 ...

证券日报网讯12月17日，长盈精密（300115）在互动平台回答投资者提问时表示，公司是做超精密模具 起家的，公司的模具部门超过2000人，15年以上的资深工程师约500人，10年以上的超过1000人，在业 内竞争优势明显。公司以精密模具加工的思路和团队来做人形机器人精密零部件，良率很高，客户非常 满意。另外，公司具备一站式的金属、非金属的加工能力，以及零部件产品的开发和加工、生产能力， 对于处于早期发展阶段的人形机器人客户来讲，能够提供一站式的服务，还能够对他们的设计提供优化 和降本的建议，也是公司能够在具身智能行业占领先机的重要因素。 ...

（编辑 袁冠琳） 证券日报网讯 12月17日，长盈精密在互动平台回答投资者提问时表示，公司是做超精密模具起家的， 用精密模具加工的思路和团队来做人形机器人精密零部件，核心加工设备已实现稳定的2微米级 （±0.002mm）精度，为各类轻量化材料与复杂结构的加工的实现提供了保障。公司布局人形机器人领 域超10年，已具备一站式的金属、非金属材料的加工能力，已实现为海内外人形机器人客户开发如铝合 金、镁合金、钛合金等金属材料，PEEK、IGUS等工程塑料，以及橡胶、硅胶、尼龙、纤维织布等多种 材料的零件，涵盖CNC、3D打印、压铸、注塑、滚齿、热压等多种成型工艺。公司具备丰富的零部件 产品的开发和加工、生产经验，能在人形机器人客户设计初期介入，提供合理的优化建议，通过科学的 设计、材料选择与先进的制造工艺相结合，在保证结构强度与功能的前提下实现极致的重量优化。 ...

Core Insights - The company specializes in precision manufacturing of core components for humanoid robots, including joint assemblies and dexterous hands, primarily based on customer design blueprints while also engaging in collaborative design and development [2] - The company's key technological advantages lie in its expertise in specific materials processing, transmission precision, and integration capabilities, which are critical in the humanoid robotics sector [2] Company Expertise - The company originated from ultra-precision mold manufacturing, employing over 2,000 personnel in its mold department, including approximately 500 engineers with over 15 years of experience and more than 1,000 engineers with over 10 years of experience, showcasing a competitive edge in the industry [2] - Utilizing a precision mold processing approach, the company achieves high yield rates in manufacturing humanoid robot components, leading to high customer satisfaction [2] Service Offering - The company provides a one-stop service for both metal and non-metal processing capabilities, which includes component development, processing, and production, catering to early-stage humanoid robot clients [2] - The ability to offer design optimization and cost-reduction suggestions is a significant factor in the company's competitive advantage within the embodied intelligence industry [2]

每经AI快讯，有投资者在投资者互动平台提问：请问公司有向小鹏机器人提供相关设备吗？ （记者 王瀚黎） 科瑞技术（002957.SZ）11月17日在投资者互动平台表示，公司目前直接或间接为国内外品牌客户提供 人形机器人髋部、四肢、骨架、关节等部位或固定支架相关的精密零部件。公司始终致力于紧跟下游各 品牌客户的发展步伐，积极布局机器人相关领域更多业务机会。由于公司与客户签有严格的保密协议， 涉及客户的商业机密，出于审慎原则，不便对具体应用细节进行回复，敬请谅解。 ...

Group 1: Investor Relations Activities - The company conducted specific object research with various funds and securities firms from July 1 to September 25, 2025, including notable participants like Guotai Fund and UBS Securities [2][3][4][5][6] - A total of 12 specific object research activities were recorded, with the last one occurring on September 25, 2025 [4][5] Group 2: Company Overview and Core Competencies - The company specializes in precision injection molding, which is crucial for producing core functional components for automotive and high-end household appliances [4][5] - Key materials used include engineering plastics such as PA, PPS, and PEEK, which are essential for high-performance applications [4][5] Group 3: Market Strategy and Future Plans - The company aims to expand its market share in the automotive (including new energy vehicles) and high-end household appliance sectors [5][6] - Plans include developing precision components for thermal management modules and three-electric systems in new energy vehicles, with a focus on increasing unit value and market share [5][6] Group 4: New Production Project - The company is progressing on a new project to produce 800 million sets of new energy vehicle components and ultra-precision engineering plastic parts, located in Shanghai Jinshan District [6] - The project covers an area of 109,121.87 square meters and is expected to be completed by 2026, with production timelines dependent on project progress [6]

Investment Rating - The report maintains a "Buy" rating for the company, expecting a relative performance increase of over 15% against the benchmark index in the next 6 to 12 months [9] Core Views - The company is positioned as a leader in precision injection molding, with a strong focus on high-precision, high-quality, and high-value-added core components. The growth in revenue is supported by the increasing demand for lightweight components in the new energy vehicle sector [6][5] - The company is expanding its capabilities into humanoid robotics and low-altitude economy applications, leveraging its expertise in precision molds and engineering plastics [6] - The financial forecasts indicate robust revenue growth, with expected revenues of 956 million yuan in 2025, representing a year-on-year growth rate of 27% [3][6] Financial Summary - The company achieved a revenue of 3.8 billion yuan in the first half of 2025, reflecting an 11.5% year-on-year increase, while the net profit attributable to the parent company was 0.7 billion yuan, down 8.6% year-on-year [6] - The projected revenues for 2025-2027 are 956 million yuan, 1.237 billion yuan, and 1.619 billion yuan, with corresponding growth rates of 27%, 29%, and 31% respectively [3][6] - The net profit for the same period is expected to be 186 million yuan, 243 million yuan, and 324 million yuan, with growth rates of 31% for each year [3][6] Key Metrics - The company’s earnings per share (EPS) are projected to increase from 0.58 yuan in 2024 to 1.33 yuan in 2027 [3] - The price-to-earnings (P/E) ratio is expected to decrease from 77.4 in 2024 to 33.9 in 2027, indicating improving valuation as earnings grow [3] - The return on equity (ROE) is forecasted to rise from 12.1% in 2024 to 18.2% in 2027, reflecting enhanced profitability [3]

Core Viewpoint - The company has terminated significant investment projects in the lithium battery structural components sector due to a fundamental shift in market expectations and overcapacity concerns, reflecting a need to reassess its expansion strategy [1][2][3] Group 1: Project Termination and Market Conditions - The company announced the termination of a 1 billion yuan investment project in Yichun, Jiangxi, which was initially planned in March 2023 amid a booming lithium battery market [1] - The actual investment at the time of termination was only 4.96% of the planned amount, with 49.64 million yuan already spent primarily on equipment that will be relocated [1][2] - The company had previously terminated another 500 million yuan project in Yibin, Sichuan, citing a need to concentrate resources on key business areas [1][2] Group 2: Financial Performance and Challenges - In 2024, the company reported revenue of 7.129 billion yuan, an 18.45% year-on-year increase, and a net profit of 254 million yuan, a staggering 493.77% increase [2] - However, the company's total liabilities reached 8.432 billion yuan, with a debt-to-asset ratio of 73.80%, significantly above the healthy level for manufacturing firms [2] - The company has faced continuous negative operating cash flow for five years, with cash and cash equivalents at 1.026 billion yuan, only covering 17.28% of current liabilities [2] Group 3: Strategic Shifts and New Ventures - The company is experiencing pressure from major clients like CATL and BYD, which have strong bargaining power, affecting the company's cash flow and payment terms [3] - Alongside project terminations, the company has also delayed other projects, such as the annual production of 900 million lithium battery tops, pushing the completion date from the end of 2024 to the end of 2025 [3][4] - The company has initiated a new venture into humanoid robot precision components, although this segment has contributed minimally to revenue, highlighting the uncertainty in its strategic pivot [4]

Investment Rating - The report does not explicitly state an investment rating for the plastic products industry or the specific company being analyzed [13]. Core Insights - The company, Zhaomin Technology, has a strong competitive edge in precision injection molding capabilities, which includes mold development, production process control, and product quality inspection [18]. - The future market strategy focuses on expanding market share in precision components for the automotive (including new energy vehicles) and high-end home appliance sectors, aiming to become a core supplier in these fields [19]. - The company is actively developing precision components for humanoid robots and has successfully mass-produced several products for mainstream new energy vehicle brands [20]. Summary by Sections 1. Basic Research Information - The research was conducted on February 20, 2025, focusing on Zhaomin Technology within the plastic products industry, with participation from institutions like Ping An Fund [13][16]. 2. Company Overview - Zhaomin Technology's core competencies lie in its advanced precision injection molding capabilities, allowing it to produce critical components for automotive and high-end kitchen and bathroom appliances [18]. 3. Market Strategy - The company aims to increase its market share in the automotive sector, particularly in precision functional injection parts, and is also looking to expand internationally in the high-end home appliance market [19]. 4. Research and Development Progress - Zhaomin Technology is making strides in R&D for products such as thermal management modules and electronic pumps, which are already being utilized by several leading new energy vehicle brands [20].