以下文章来源于最华人 ，作者华人作者团 最华人 . 有华人的地方，就有最华人。 关注华人商业领袖、创业者及商业案例； 洞察科技制造、品牌出海、产 业革新等。 "2022中国正能量网络精品"获得者。 来源丨最华人（ wcweekly ） 作者丨 唐僧牛仔 图源丨Midjourney 在西安城西，有一所硬核的高 校——西北工业大学 （简称"西工大"） 。作为"国防七子"之一的西工 大，虽然在军工领域大名鼎鼎，但是在"爆款"频出的民用科技创新领域，却一直显得特别低调， 最"知名"的校友恐怕也就是华为的余承东了。 但是近些年，这所传统军工强校悄然孵化出一支令人瞩目的机器人创业军团：他们有的15岁考入西工 大、18岁开始创业；有的博士还没毕业就轻松拿下上亿的融资；有的产品已占据全国95%市场份 额，打破海外垄断…… 尽管他们的发力点并不在话题度很高的人形机器人领域，但这群年轻人正用代码、算法与金属关节， 重新定义中国机器人的未来。 今天，我们就来看看这个"西工大机器人军团"的崛起密码。 "硬核创客"的成长轨迹 今年1月份，媒体报道了一个形似水母、通体透明的仿生机器人。这个能在水下无声游动的机器人， 去年就在央视的节目中 ...

深夜，上海一处 人形 机器人研发实验室，工程师们仍在 测试 新一代人形机器人的 双足 。当他们 不久前 更换上来自 宇立仪器 的六维力传感器后，机器人 的稳定性有了大幅提升 。 这枚小小的传感器，正成为决定中国机器人产业高度的关键零件。而在这背后，一场 人形机器人需求带动的 产业攻坚持久战，已由宇立仪器这样的 核心零部件 企业推向了新的高潮。 人形产业爆发 产业需求信号明确 01. 人形机器人的 市场需求正以惊人的 速度爆发。 市场调查机构 CounterPoint Research 报告显示 2025 年全球人形机器人产业迎来商业化爆发，全年装机 量约为 16000 台，相较去年翻了近 600% 。 随着人形机器人市场爆发，传感器企业迎来了产能挑战。在 宇立仪器南宁工厂 ，所有生产线已经满负荷运 转，现场热火朝天。 " 目前，生产订单已经排到了一个月后，车间的设备、人员已经满负荷运行。 " 相关负责人介绍， " 我们的 产品应用范围很广，可以用于人形机器人，也可以用于汽车测试、工业机器人的末端应用、医疗手术机器人 等。 " 据悉，该公司从汽车碰撞力传感器做起，是国内唯一具有汽车碰撞假人多轴力传感器生产能力的 ...

证券研究报告·北交所公司点评报告·汽车零部件 开特股份（920978） 2025 业绩快报点评：全年扣非业绩同比 +32%，看好储能/机器人/液冷新业务增量 买入（维持） 研究助理 武阿兰 执业证书：S0600124070018 wual@dwzq.com.cn | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 653.27 | 826.36 | 1,096.34 | 1,392.61 | 1,780.34 | | 同比（%） | 26.93 | 26.50 | 32.67 | 27.02 | 27.84 | | 归母净利润（百万元） | 113.70 | 137.85 | 171.67 | 239.16 | 309.34 | | 同比（%） | 46.92 | 21.24 | 24.54 | 39.32 | 29.34 | | EPS-最新摊薄（元/股） | 0.63 | 0.77 | 0.95 | 1.33 | 1.72 | ...

Core Viewpoint - The smart robotics industry is a strategic emerging industry prioritized by the national and provincial governments, with Jiangmen possessing unique development advantages due to its solid industrial foundation and diverse application scenarios [1]. Group 1: Industry Strengths - Jiangmen's confidence in developing the smart robotics industry stems from its significant competitiveness in core components and a rich variety of application scenarios. The city has gathered nearly 100 companies related to the robotics industry, leading in the research and production of key components such as harmonic reducers and sensors [3]. - Jiangmen is home to "invisible champion" companies like Tongchuan Technology, whose harmonic reducers are close to international leading levels, and Landot Touch, whose six-dimensional force sensors are critical components for humanoid robot perception systems [3]. Group 2: Market Opportunities - The rise of AI, exemplified by DeepSeek, marks the arrival of the third wave of AI, presenting unprecedented opportunities for Jiangmen's smart robotics industry. This wave focuses on making AI accessible to small and medium-sized enterprises (SMEs), allowing them to utilize AI technology effectively [5]. - The open-source and cost-effective nature of DeepSeek significantly lowers the barriers for SMEs to deploy AI models, enabling them to compete on equal footing with larger enterprises by investing only 200,000 to 400,000 yuan [6]. Group 3: Development Pathways - The development path for Jiangmen's smart robotics industry involves deep integration of AI with traditional industries, leveraging scenario innovation for differentiated development. The team has already begun assisting several SMEs in AI upgrades, such as transforming ordinary treadmills into "personal trainers" and enhancing traditional appliances with AI functionalities [7]. - Acknowledging the existing reluctance among many SMEs to adopt AI technology, the industry recognizes the need to "liberate thoughts" and embrace AI as a driving force for industrial upgrades. The team plans to engage with SMEs to empower them through AI technology, enhancing product competitiveness and expanding market reach [7].

证券日报网讯1月30日，柯力传感（603662）在互动平台回答投资者提问时表示，公司紧密围绕"传感器 森林"核心战略，系统推进面向机器人等高端智能装备的多模态感知技术布局。目前，公司在自研六维 力传感器基础上，协同他山科技、猿声科技等合作伙伴的触觉传感技术，已在部分机器人应用场景中开 展技术集成与解决方案验证。相关技术路径、验证周期及产业化进程仍处于持续探索阶段，存在一定不 确定性。公司将严格遵循法律法规及信息披露相关规定，及时向市场通报重大进展。 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expectation that the stock will outperform the market index by more than 15% in the next six months [3][64]. Core Insights - The company is experiencing rapid growth in its actuator business and is actively expanding into new markets, particularly in the six-dimensional force sensor sector. The demand for its main actuator and sensor products is expected to remain strong, leading to anticipated revenue growth [3][59]. Summary by Sections Company Overview - The company, Hubei Kait Electronics, was established in 1996 and initially focused on automotive temperature sensors. It has since expanded its product range to include controllers, actuators, and power modules. The company went public on the Beijing Stock Exchange in September 2023, raising 133 million yuan [11][14]. Recent Performance - In 2024, the company reported revenue of 826 million yuan, a year-on-year increase of 26.50%. The compound annual growth rate (CAGR) from 2020 to 2024 was 31.29%. The net profit attributable to shareholders for 2024 was 138 million yuan, up 21.24% year-on-year [33][34]. Product Growth - Sales revenue from actuator products increased from 67 million yuan in 2020 to 327 million yuan in 2024, significantly increasing its share of total revenue from 24.03% in 2020 to 44.91% in the first half of 2025. Sensor product sales also grew from 128 million yuan in 2020 to 295 million yuan in 2024 [34][39]. Automotive Market Trends - Global automotive sales have been recovering since 2021, with total sales increasing from 83.64 million units in 2021 to 95.31 million units in 2024. China has become the largest automotive market, accounting for 32.98% of global production in 2024 [4][48]. Future Projections - The company is projected to achieve net profits of 184 million yuan, 234 million yuan, and 310 million yuan for the years 2025, 2026, and 2027, respectively, with corresponding price-to-earnings (PE) ratios of 31, 24, and 18 [3][63].

Summary of KAIT股份 Conference Call Company Overview - KAIT股份 is facing challenges in the automotive market but is expected to benefit from growth prospects of major clients like BYD and new project applications, anticipating continued growth in performance by 2026, albeit at a slower rate. BYD's sales forecast for 2026 is between 5-5.5 million vehicles [2][4]. Key Points and Arguments Industry and Market Conditions - The automotive market is currently experiencing a downturn, but key clients such as BYD are still expected to grow, with sales increasing from 4.6 million vehicles in 2025 to a forecast of 5-5.5 million in 2026 [2][4]. - Despite the overall market decline, KAIT股份's new projects and product applications are projected to drive growth, leading to an expected increase in performance for 2026, although at a reduced growth rate compared to previous years [2][4]. Financial Performance and Projections - KAIT股份 achieved a 40% growth in Q3 2025 and expects to meet its annual targets despite recent stock price declines, indicating a stable fundamental performance [3]. - The optimistic estimate for the energy storage business is around 1 billion yuan in revenue over the next two to three years, with net profit expected to range between 5% and 10% [5][16]. Margin Management and Cost Control - The company maintains relatively stable gross margins, with new projects helping to absorb some pricing pressure. The energy storage business is expected to grow significantly in 2026, although it has a lower gross margin compared to temperature sensors [6][19]. - KAIT股份 is actively pursuing domestic material substitution and low-cost solutions to mitigate the impact of rising raw material prices [7][19]. New Business Developments - The energy storage business is anticipated to contribute the most to new revenue streams, followed by robotics and liquid cooling. The energy storage business has a gross margin of approximately 20% [8][12]. - The company has begun sample testing in the robotics sector with several domestic firms, indicating potential collaborations for six-dimensional force sensors and small joint motor modules [8][12]. Production Capacity and Supply Chain - The Dream Factory project was completed in mid-2025, and the Han Nan wood project is nearing completion, which will eliminate capacity constraints in 2026 [9][10]. - The initial capacity of the energy storage CCS production line exceeds 100 million yuan, with plans for further expansion [22][18]. Client Relationships and Market Strategy - KAIT股份's main clients for 2026 include Yiwai, with ongoing adjustments to production lines based on their requirements. Other clients include Sunshine Power, Kelu, and CRRC, although Huawei has not yet been engaged [21]. - The company plans to continue focusing on existing automotive clients like Tesla while also rapidly engaging with domestic robotics manufacturers to secure more orders and revenue [15]. Product Development and Market Feedback - The six-dimensional force sensor has received positive market feedback, and the company is working towards achieving low-cost mass production [24]. - The actuator business is growing rapidly due to increased demand from electric vehicles and new application developments, including automotive air conditioning outlets and electric curtains [26]. Challenges and Future Outlook - The company faces challenges in the North American robotics market, with slow progress but plans to maintain contact and engagement [13]. - The liquid cooling system's temperature and humidity sensors are in development, but the current demand is lower compared to automotive or energy storage applications, making significant volume growth unlikely in the short term [28]. Additional Important Information - The company is exploring joint development opportunities in the robotics product line and is focused on enhancing its expertise by recruiting specialized talent [14]. - The overall performance in Q1 2026 may fluctuate due to the Spring Festival, with new business contributions expected to materialize in the second and third quarters [17].

证券日报网讯 1月28日，柯力传感在互动平台回答投资者提问时表示，公司作为有限合伙人参与设立的 产业基金持有深圳市德壹医疗科技有限公司股权，目前双方正围绕六维力传感器等领域协同开展研发合 作，公司目前是德壹机器人最重要的六维力传感器供应商。公司将持续关注行业前沿动态，积极探索高 端手术机器人等相关产业协同机会，推动技术积累与业务发展。后续如涉及应披露的合作进展或重要事 项，公司将严格按照相关法律法规及监管要求及时履行信息披露义务。 （编辑 王雪儿） ...

Summary of Key Points from Conference Call Records Industry Overview - The records focus on the humanoid robotics industry, highlighting various companies involved in the sector, including 日盈电子 (Riying Electronics), 特格高材 (Tegao Materials), 伟创电气 (Weichuang Electric), 开特股份 (Kaiter Co.), 亚信科技 (Yaxin Technology), 拓普集团 (Top Group), and 凯迪股份 (Kaidi Co.) [1][2][3][4][5] Core Insights and Arguments - **日盈电子 (Riying Electronics)**: - Initiated a "T Zero Mass Production Consulting" project with 特格高材 (Tegao Materials) at its headquarters [1] - The company has received high recognition for its products in the U.S. since 2025, indicating a strong market position [2] - **伟创电气 (Weichuang Electric)**: - Recently underwent a technical audit by Tesla, showcasing capabilities in motors, encoders, and drivers, with a goal to finalize product specifications by mid-February 2026 to ensure mass production starts in April [3] - Maintains a production plan of 1,000 units per week by June 2026 and 10,000 units per week by June 2027 [3] - **开特股份 (Kaiter Co.)**: - Established a joint venture with 西安旭彤 (Xi'an Xutong) to develop six-dimensional force sensors, encoders, and electronic mechanical brake systems, collaborating with 图灵机器人 (Turing Robotics) [3] - **亚信科技 (Yaxin Technology)**: - Launched a "Physical AI Laboratory" in collaboration with ABB Robotics, marking a significant step in their strategic partnership [4] - **拓普集团 (Top Group)**: - Reduced the size of dexterous hand motors from 15mm to 12mm and is enhancing product features such as vibration reduction and slip resistance in shoes, with a production capacity target of 2,000 units per week by June [4] - **凯迪股份 (Kaidi Co.)**: - Signed a strategic cooperation agreement with 新泉股份 (Xinquan Co.) to jointly develop key components for robotics [5] Additional Important Information - The records emphasize that the information is based on market rumors and does not represent personal opinions or investment advice, urging caution in interpretation [1][5] - The collaboration between companies in the humanoid robotics sector indicates a trend towards strategic partnerships aimed at enhancing technological capabilities and market reach [3][4][5]

Core Viewpoint - In 2025, the six-dimensional force sensor sector in China experienced a capital frenzy, with total financing reaching several hundred million RMB, primarily in early-stage rounds. Many startups claimed to be "first" in various aspects, but the actual market landscape is more complex than presented in promotional materials [1][5]. Group 1: Market Dynamics - The global humanoid robot industry is expected to see over 20,000 units sold in 2025, with China contributing over 80% of this market share. However, actual factory installations are only around 2,000 units, indicating that the industry is still in early production stages [2]. - The market for six-dimensional force sensors remains small and undeveloped, with most humanoid robot projects only validating sensors in limited areas, such as feet or wrists, rather than achieving standardization or bulk procurement [4]. Group 2: Investment Trends - Many companies in the sector are leveraging "leading" claims to attract attention and funding, often based on specific parameters achieved in controlled environments rather than practical applications [5][6]. - Investors are adopting a "broad net" strategy, focusing on the overall sector rather than individual companies, as the market is still fragmented and uncertain [8]. Group 3: Production and Cost Challenges - The primary path to cost reduction in the industry is through scaling production, creating a cyclical dilemma where increased robot deployment is needed to lower sensor costs, but high sensor costs hinder robot production [9]. - Most companies are currently in a transitional phase from prototype validation to small-scale production, making it difficult for sensor manufacturers to secure stable, large-volume orders [8][9]. Group 4: Future Outlook - By 2030, the annual shipment of six-dimensional force sensors is expected to exceed one million units, with the market potentially reaching a scale of billions. Current production capacity is seen as a strategic asset for future competition [12]. - The core challenge in manufacturing six-dimensional force sensors lies in "decoupling" complex force signals into independent components, which remains a significant technical hurdle for many domestic companies compared to international brands [13][14]. Group 5: Industry Evolution - As the humanoid robot industry matures, the focus will shift from mere funding and market visibility to actual product performance, delivery capabilities, and deep customer relationships [16][17]. - The first phase of the sensor competition is concluding, with the next phase emphasizing tangible product quality and reliability over financial metrics [17].