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嵘泰股份(605133):汽车外延发展 机器人全面发力
Xin Lang Cai Jing· 2025-12-17 04:40
Core Viewpoint - The company is a leading domestic manufacturer of precision die-casting parts for automobiles, expanding into the robotics sector and achieving continuous revenue and profit growth since 2022 [1][2]. Group 1: Financial Performance - The company reported a 19% year-on-year increase in revenue and a 17% increase in net profit attributable to shareholders for the first three quarters of 2025 [1]. - Revenue projections for 2025-2027 are estimated at 30.50 billion, 40.55 billion, and 44.65 billion respectively, with net profits of 2.2 billion, 3.0 billion, and 3.6 billion [2]. Group 2: Business Expansion - The company has expanded its business from automotive die-casting to non-standard intelligent manufacturing equipment, acquiring a 53% stake in Lijun Machinery in 2022 [1]. - A joint venture with Runfu Power was established in April 2025 to produce planetary roller screws for robots and automobiles [1]. - The company entered the automotive electronics sector by acquiring a 51% stake in Zhongshan Aoduo in September 2025, transitioning from producing automotive motors to developing robot motors [1]. Group 3: Automotive Sector Developments - The company has enhanced its automotive parts offerings, increasing the per-vehicle value and achieving a leading market share in smart electric pedals and notable positions in intelligent side-opening door systems [2]. - Overseas revenue reached 940 million in 2024, accounting for 41% of main business income, with the Mexican subsidiary achieving profitability in the first half of 2025 [2]. Group 4: Robotics Sector Developments - Starting in 2024, the company will focus on three main components for robotics: metal shell die-casting, planetary roller screws, and robot motors [2]. - New patents for roller screws are expected to address industry challenges, reducing vibration noise, manufacturing difficulty, and production costs, facilitating mass production in robotics and new energy vehicles [2].