12月17日晚间，瑞德智能（301135）发布投资者关系活动记录表，公司于12月16日—17日接待了太平洋 通信、东北通信、国元证券等知名机构调研。在此之前，公司在11月还接待了天弘基金、南方基金、国 富人寿、广发基金等多家知名机构的密集调研，围绕营收增长逻辑、机器人赛道布局、汽车电子业务进 展及全球化产能规划等核心议题展开深度交流。 作为国内智能控制器领域标杆企业，瑞德智能在巩固家电智能控制器传统核心赛道优势的同时，持续拓 展多元业务边界，2025年前三季度实现营业收入10.34亿元，同比增长14.77%。 近两次调研中，瑞德智能详细拆解了其业绩增长的六大核心驱动力。第一是业务结构的精准优化，在稳 住家电控制器基本盘的基础上，公司重点开拓电机电动、汽车电子、数智能源等新赛道智能控制器业 务，同时对医疗健康、宠物科技、机器人、低空飞行、智能家居等前沿产业开展前瞻研究，成功挖掘新 的增长曲线。 第二是研发创新的持续加码，瑞德智能不仅优化研发投入结构，构建融合先进硬件与权威质量体系的研 发平台，还深化与多所高校的战略合作，搭建产学研融合创新生态，为技术迭代与产品升级提供支撑。 第三是数字化与智能化的深度赋能，通过 ...

Group 1: Revenue Growth and Business Strategy - In the first three quarters of 2025, the company achieved a revenue of 103,359.85 million yuan, representing a year-on-year growth of 14.77% [1] - The growth is attributed to business structure optimization, focusing on key customers and product sectors, while expanding into new areas such as medical health and smart home technology [1][2] - The company emphasizes core technology research and product innovation, enhancing R&D investment structure and fostering partnerships with universities [1][2] Group 2: Manufacturing and Operational Efficiency - The company has implemented lean manufacturing practices, creating a technological moat that drives cost reduction and enhances competitive barriers [2] - Global expansion strategies are yielding results, with the Vietnam facility rapidly increasing capacity and the Zhejiang facility's capacity improved by over 50% [2] - The company is exploring mergers and acquisitions to link with quality external resources and deepen industry synergy [2] Group 3: Robotics and Automotive Electronics - The company invested 10 million yuan in Shenzhen Yutuo Intelligent Co., acquiring a 2.2989% stake, focusing on robotics for power plants [3] - In the automotive electronics sector, the company has seen rapid growth in smart controller products, particularly in short-distance travel and new energy vehicles [4] - Key partnerships with brands like BYD for charging station controllers have significantly contributed to revenue growth [4] Group 4: Cost Management and Financial Outlook - Sales, management, and R&D expenses have decreased year-on-year due to strategic investments in R&D and operational efficiency [4][5] - The company maintains a positive outlook for 2025, driven by seasonal demand and a stable customer base, despite macroeconomic uncertainties [5] - The focus on high-precision, energy-efficient controllers aligns with market trends, supporting sustained operational performance [5]