长盈精密（300115.SZ）11月19日在投资者互动平台表示，公司较早布局人形机器人业务，最早对接的 是海外品牌，所以目前出货比较多的也是海外品牌。今年上半年两个海外品牌贡献营收3500万人民币。 今年年初到8月底，公司累计交付了人形机器人结构件产品的价值已经超过了人民币8000万元。目前公 司在人形机器人业务上供应给客户的料号超过400个。公司的项目集中在灵巧手上的传动件和结构件， 现在逐步增加至大尺寸的传动件和结构件。第四季度海外人形机器人新订单仍在加速增长，公司正在积 极扩产。公司的业绩情况请关注公司定期报告中的相关内容。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：请问董秘，公司截至到三季度末，人形机器人业务收 入多少？毛利率多少？占总营收比重多少？ ...

人民财讯11月19日电，长盈精密（300115）11月19日在互动平台表示，公司较早布局人形机器人业务， 最早对接的是海外品牌，所以目前出货比较多的也是海外品牌。今年上半年两个海外品牌贡献营收3500 万元人民币。今年年初到8月底，公司累计交付了人形机器人结构件产品的价值已经超过了人民币8000 万元。目前公司在人形机器人业务上供应给客户的料号超过400个。公司的项目集中在灵巧手上的传动 件和结构件，现在逐步增加至大尺寸的传动件和结构件。第四季度海外人形机器人新订单仍在加速增 长，公司正在积极扩产。 ...

长盈精密在互动平台表示，公司较早布局人形机器人业务，最早对接的是海外品牌，所以目前出货比较 多的也是海外品牌。今年上半年两个海外品牌贡献营收3500万人民币。今年年初到8月底，公司累计交 付了人形机器人结构件产品的价值已经超过了人民币8000万元。目前公司在人形机器人业务上供应给客 户的料号超过400个。公司的项目集中在灵巧手上的传动件和结构件，现在逐步增加至大尺寸的传动件 和结构件。第四季度海外人形机器人新订单仍在加速增长，公司正在积极扩产。谢谢。 ...

格隆汇11月19日丨长盈精密(300115.SZ)在互动平台表示，公司较早布局人形机器人业务，最早对接的 是海外品牌，所以目前出货比较多的也是海外品牌。今年上半年两个海外品牌贡献营收3500万人民币。 今年年初到8月底，公司累计交付了人形机器人结构件产品的价值已经超过了人民币8000万元。目前公 司在人形机器人业务上供应给客户的料号超过400个。公司的项目集中在灵巧手上的传动件和结构件， 现在逐步增加至大尺寸的传动件和结构件。第四季度海外人形机器人新订单仍在加速增长，公司正在积 极扩产。 ...

Core Insights - The company has made significant progress in the precision components sector for humanoid robots, with overseas revenue expected to exceed 35 million yuan in the first half of 2025, far surpassing the 10.11 million yuan achieved in the entirety of 2024 [1] - As of the end of August, the total value of humanoid robot structural components delivered by the company has exceeded 80 million yuan [1] Group 1 - The company has supplied over 400 product SKUs to humanoid robot clients, primarily focusing on dexterous hand drive components, and is gradually expanding into larger drive components [3] - The company has established a core competitive advantage in this field through ultra-precision mold processing technology and comprehensive metal and non-metal processing capabilities [3] - To support global business development, the company is enhancing its overseas production capacity, with factories in Vietnam, Mexico, and Hungary being developed to meet growing demand [3] Group 2 - The company has seen a rapid increase in R&D expenses in the first half of 2025, primarily to prepare for mass production projects for major consumer electronics clients and to meet the rising demand for AI glasses [3] - The company has strategically positioned itself in the AI computing business, developing high-speed backplane connectors for servers and workstations, and has acquired a 51% stake in Shenzhen Weixian Technology Co., Ltd. to enrich its product line [3] Group 3 - The company addressed investor concerns regarding net profit fluctuations, noting that a non-recurring gain of approximately 180 million yuan from the disposal of a subsidiary's equity in Q1 2024 led to a year-on-year decline in net profit for the first half of the year [4] - However, the company's net profit excluding non-recurring items grew by over 30% year-on-year, indicating ongoing improvement in operational performance [4] - The company has established a strategic framework focusing on "consumer electronics + new energy" as its dual main businesses, with artificial intelligence (including humanoid robots and AI computing) as a new growth point [4] Group 4 - The management stated that the consumer electronics business will continue to provide stable returns, while the new energy business is expected to maintain growth over the next three years [4] - Although the humanoid robot business currently represents a small revenue share, it has significant market potential and is expected to become a "third pole" for the company's performance growth [4] - The company is transitioning from a traditional consumer electronics component supplier to a precision manufacturing platform covering multiple fields, including consumer electronics, new energy, and artificial intelligence, to seize opportunities in emerging industries and ensure sustainable development [4]

Summary of Key Points Core Viewpoint - A total of 308 listed companies in the Shanghai and Shenzhen markets were surveyed by institutions this week, with the machinery, automotive, and electronics sectors receiving the highest frequency of attention [1]. Group 1: Industry Focus - The machinery equipment sector had the highest number of surveyed companies at 47, followed by the automotive sector with 30, and the electronics sector with 26 [2]. - Other notable sectors included power equipment (25), pharmaceutical and biotechnology (24), and computer (23) [2]. - The automotive parts, general equipment, and specialized equipment sectors were the top three in terms of institutional interest, with increased attention also noted in semiconductors and power grid equipment [2]. Group 2: Company Specifics - Ice Wheel Environment and Hu Dian Co., Ltd. were the most frequently surveyed companies, each receiving three visits [3]. - The top three companies by institutional visit reception were Jingzhida (138 visits), Xinlitai (78 visits), and Enhua Pharmaceutical (77 visits) [4]. - The robotics sector saw active market performance, with Wanxiang Qianchao's stock hitting the limit up after announcing its capabilities in developing specialized bearings for humanoid robots [5]. - Blue Dai Technology also experienced a limit up in stock price after discussing its dual business development in power transmission and touch display [7]. - Helen Zhe's partnership with Suzhou Yisheng Robot Technology, a key supplier for Apple, is expected to positively impact its future performance due to increased demand for Apple products [9]. - Longying Precision reported over 80 million yuan in deliveries for humanoid robot components, indicating strong growth in this segment [11].

Core Viewpoint - Longying Precision has shown strong growth in both consumer electronics and new energy sectors, with a significant increase in revenue and net profit in the first half of 2025, indicating a positive outlook for the company [1][2]. Group 1: Company Performance - In the first half of 2025, Longying Precision achieved revenue of 8.64 billion yuan, a year-on-year increase of 12.33%, and a net profit of 288 million yuan, reflecting a growth of 32.18% [1]. - The consumer electronics segment accounted for approximately 70% of total revenue, while the new energy segment contributed about 30% [1]. - Revenue from the consumer electronics business was 5.30 billion yuan, showing stable growth, while the new energy business revenue reached 2.94 billion yuan, marking a significant increase of 37.09% year-on-year [1]. Group 2: Business Development and Strategy - The company has established a dual pillar development strategy focusing on consumer electronics and new energy, along with artificial intelligence [1]. - Longying Precision has acquired a 51% stake in Shenzhen Weixian Technology Co., enhancing its product line for high-speed copper connector modules [1]. - The company is preparing for the mass production of important projects for major clients in the consumer electronics sector, particularly in AI glasses, which is expected to drive future growth [2]. Group 3: R&D and Production Capacity - R&D expenses have increased due to preparations for significant projects and the expansion of product categories related to AI glasses [2]. - Longying Precision has production bases in Vietnam and Mexico, with plans for a factory in Hungary and a smart manufacturing park in Shenzhen expected to be operational by the fourth quarter of this year [2]. - The humanoid robot business has generated revenue of 35 million yuan in the first half of the year, with cumulative deliveries exceeding 80 million yuan by the end of August [2]. Group 4: Competitive Advantage - The company has a strong competitive edge in the humanoid robot sector, leveraging its expertise in precision molds and a skilled workforce [2]. - Longying Precision's ability to provide one-stop services for early humanoid robot clients, including design optimization and cost reduction suggestions, enhances its market position [2].

人民财讯9月24日电，长盈精密(300115)9月23日接受机构调研时表示，今年年初到8月底，公司累计交 付了人形机器人结构件产品的价值已经超过了8000万元。目前公司在人形机器人业务上供应给客户的料 号超过400个。公司的项目集中在灵巧手上的传动件，现在逐步增加至大尺寸的传动件。 转自：证券时报 ...

格隆汇9月24日｜长盈精密(300115.SZ)接受机构调研时表示，公司比较早布局这块（人形机器人）业 务，最早对接的海外品牌，所以目前出后比较多的也是海外品牌。今年上半年两个海外品牌贡献营收 3500万人民币。今年年初到8月底，公司累计交付了人形机器人结构件产品的价值已经超过了8000万 元。目前公司在人形机器人业务上供应给客户的料号超过400个。公司的项目集中在灵巧手上的传动 件，现在逐步增加至大尺寸的传动件。公司是从超精密的小件，逐步做到高价值量的大件的。当然，不 管是小件还是大件，精密度都非常高，超过普通消费类电子产品的精度。 ...

Investment Rating - The report assigns a "Buy" rating for the company, indicating a potential relative price increase of over 15% [20]. Core Views - The company is expected to achieve revenue, net profit attributable to shareholders, and net profit excluding non-recurring gains and losses of 6.746 billion, 940 million, and 879 million yuan in 2024, representing year-on-year growth of 13.24%, 2.86%, and 0.40% respectively [1][3]. - In Q1 2025, the company reported revenue, net profit attributable to shareholders, and net profit excluding non-recurring gains and losses of 1.666 billion, 257 million, and 236 million yuan, with year-on-year growth of 1.41%, 10.94%, and 6.64% respectively [1][3]. - The company is advancing its globalization strategy and is firmly positioned in the "new energy vehicles + intelligent driving" product segment, aiming to deepen partnerships with leading overseas auto parts suppliers while expanding its market share in traditional small parts [1][12]. - The company is also focusing on optimizing its product structure and expanding its business from small to medium and large components, benefiting from the global trend of automotive lightweight upgrades [1][12]. Financial Performance Summary - In 2024, the company achieved total revenue of 6.746 billion yuan, a year-on-year increase of 13.24%, and a total profit of 1.091 billion yuan, up 2.5% year-on-year [2]. - The automotive segment generated revenue of 6.508 billion yuan in 2024, reflecting a growth of 14.75%, while the industrial segment saw a decline in revenue to 171 million yuan, down 27.72% [3][10]. - The company's gross margin for 2024 was 27.65%, a decrease of 1.44 percentage points year-on-year, primarily due to rising raw material costs [10][11]. Production and Capacity Expansion - The company is steadily constructing production facilities both domestically and internationally, with factories in Henshan, Ma'anshan, and Malaysia on schedule, and the first phase of the Mexico factory turning profitable [11]. - The company is also expanding its product categories to align with trends in the automotive and humanoid robot industries, maintaining a high equipment utilization rate of over 90% [11].