具身智能焊接方案

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新时达(002527):运动控制主业拐点向上,海尔入主加速具身智能落地
ZHESHANG SECURITIES· 2025-09-10 12:12
证券研究报告 | 公司更新 | 专用设备 新时达(002527) 报告日期:2025 年 09 月 10 日 运动控制主业拐点向上,海尔入主加速具身智能落地 ——新时达推荐报告 投资要点 1. 一句话逻辑 国产机器人龙头,运动控制主业拐点向上,海尔入主有望推动公司具身智能/人 形机器人整机落地进程超预期。 2. 超预期逻辑 市场认为:公司成长性、盈利能力偏弱。 我们认为: 1)公司为控制类龙头,海尔入主加速公司具身智能落地,打开成长空间。 ①公司深耕运控技术三十载,控制类产品迭代能力强。具体看:i. 市占率居前。 公司电梯控制器全球第二、SCARA 工业机器人国内出货量第四;ii. 自动化产品 国产替代先锋、一体化程度较高。公司早期打破电梯控制外资垄断,后成为国 内首家实现机器人驱控一体的厂商,并可实现机器人控制器+伺服驱动自供。 ②海尔成为公司新实控人,未来公司有望受益海尔机器人持续推进。具体而 言,海尔已有四大布局:i. 成立机器人事业部、控股公司;ii. 海尔创投(海尔集 团控股)倡导发起 100 亿元具身智能创投基金;iii. 海尔联合乐聚机器人等具身 智能参与者共同成立"具身智能创新生态联盟";iv ...
调研速递|上海新时达电气接受招商证券等14家机构调研,聚焦具身智能与业务协同要点
Xin Lang Cai Jing· 2025-09-05 13:33
Core Viewpoint - Shanghai New Times Electric Co., Ltd. has attracted significant attention from the capital market due to its business layout and development prospects, as evidenced by multiple institutional research activities [1] Group 1: Investor Relations Activities - The company held investor relations activities including specific object research and communication meetings with various securities firms [1] - The meetings took place on September 2, September 4, and September 5, 2025, with participation from 14 institutions including major securities and investment firms [1] - Key personnel from the company included the board secretary and the deputy general manager [1] Group 2: Key Discussion Points - Haier's Empowerment: The company has leveraged 30 years of control technology to achieve horizontal iteration in specialized control and expand into general control, aligning with AI applications [2] - Intelligent Welding Solution: The company plans to launch an intelligent welding solution in September 2025, applicable across multiple industries, particularly in shipbuilding [2] - Humanoid Robot Development: The company aims to introduce a humanoid general controller and complete machine by the end of 2025, focusing on customizable development and modular design [2] - Semiconductor Robotics: After three years of investment, the company has developed a leading domestic semiconductor wafer transfer robot, which is now in mass production for chip simulation [2] - Industry Competition: New Times Electric operates within the digital economy sector under Haier Group, focusing on foundational products and control, which can support solution-oriented businesses and facilitate data collaboration [2]
新时达(002527) - 2025年9月2日-2025年9月5日投资者关系活动记录表
2025-09-05 12:30
Group 1: Company Overview and Technological Strengths - New Timesda has a 30-year accumulation of control technology, making it a rare company in the "brain" technology field [1] - The company has achieved horizontal iteration in specialized control and expanded into general control, accumulating extensive algorithms and software foundations across various downstream industries [1][2] - New Timesda's deep understanding of "embodiment" and "AI" positions it well to embrace technological transformations [2] Group 2: Data Utilization and Market Opportunities - The current iteration of robotics is hindered by data dependency on specific scenarios, which New Timesda aims to address through its collaboration with Haier, leveraging various consumer and industrial scenarios [2] - Haier's global brand influence and management model will enhance New Timesda's supply chain competitiveness and innovation capabilities [2] Group 3: Upcoming Product Launches - New Timesda plans to launch an embodied intelligent welding solution in September 2025, applicable in multiple industries, particularly shipbuilding [3] - The company aims to introduce an embodied intelligent universal controller and humanoid robots by the end of 2025, focusing on customizable designs and various operational scenarios [4] Group 4: Semiconductor Robotics Development - After three years of investment, New Timesda has developed a leading domestic semiconductor wafer transfer robot product matrix, covering eight series of products for different environments [5][6] Group 5: Competitive Landscape and Collaboration with Haier - New Timesda's business focuses on foundational products and control, complementing Haier's digital economy initiatives without direct competition [6] - The acquisition by Haier allows New Timesda to access rich application scenarios, enhancing data collection and product development capabilities [6]
新时达(002527):深度报告:海尔入主、转型升维:国产机器人龙头加码一体化方案、具身智能
ZHESHANG SECURITIES· 2025-09-04 11:32
Investment Rating - The investment rating for the company is "Buy" (首次) [3] Core Views - The report emphasizes the transformation and elevation of the company under Haier's leadership, focusing on integrated solutions and embodied intelligence [2][12] - The company is positioned as a leading domestic robot manufacturer, with a strong emphasis on upgrading from industrial robots to comprehensive solutions [7][12] - Financial forecasts indicate a significant recovery in profitability, with expected net profits turning positive in 2025 and substantial growth in subsequent years [3][7] Summary by Sections Financial Summary - Projected revenues for 2024A, 2025E, 2026E, and 2027E are 3,357 million, 3,543 million, 3,798 million, and 4,153 million respectively, with growth rates of -0.9%, 5.5%, 7.2%, and 9.3% [3] - Expected net profit for 2025E is 13 million, with a significant increase to 84 million in 2026E and 190 million in 2027E, reflecting growth rates of 567.3% and 127.6% respectively [3] - Earnings per share are projected to be -0.4, 0.0, 0.1, and 0.3 for the years 2024A to 2027E [3] Business Overview - The company is a leader in industrial automation and robotics, with a focus on elevator controllers and SCARA robots, holding the second position globally in elevator controllers and fourth in domestic SCARA robot shipments [20][25] - The report highlights the company's strategy to capture structural demand in the elevator industry, particularly in urban rail and renovation projects, with a projected growth in elevator procurement in 2025 [29][34] - The company is also expanding into semiconductor robotics, targeting high-end markets with low domestic production rates [41][42] Haier's Empowerment - Haier's acquisition is expected to enhance the company's product offerings and financial performance, leveraging Haier's industrial internet ecosystem to provide integrated manufacturing solutions [12][51] - The partnership is anticipated to improve operational efficiency and reduce costs through shared supply chains and management practices [63][66] - The report notes that Haier's investment of 12.19 billion yuan in new shares will bolster the company's liquidity and strategic initiatives [67] Profitability Forecast - The company is expected to achieve a compound annual growth rate (CAGR) of approximately 290% in net profit from 2025 to 2027, with price-to-earnings ratios projected at 860, 129, and 57 for the respective years [7][12] - The report indicates that the company's gross margin is expected to improve, as it benefits from Haier's global supply chain and operational efficiencies [66]
公司互动丨这些公司披露在机器人、人工智能等方面最新情况
Di Yi Cai Jing· 2025-08-12 14:36
Robotics - Upbeat Electronics currently has no product layout in the robotics field [1] - New Times plans to launch an embodied intelligent welding solution in September this year [1] - Zhongke Magnetic Industry has established cooperation with ultra-lightweight humanoid robotic arm industry clients [1] - Zhiwei Intelligent has launched a robot brain control product line based on Nvidia Jetson and other chip platforms [1] - Daili New Materials has verified its robotic tendon samples with several domestic related manufacturers [1] - Tongda Hai is actively promoting native development and compatibility adaptation work based on the CANN ecosystem [1] AI and Large Models - Guoguang Electric values the research and development of new AI headphone products but has not yet achieved mass production [1] - Juxin Technology continues to build a low-power AI computing power platform, gradually expanding to more application scenarios beyond audio [1] - Heertai's tactile human body screen technology has been applied in the company's smart body-sensing clothing project [1] Solid-State Batteries - Del's shares have established a sample trial production line for solid-state batteries in Shanghai [1] - Tianhua New Energy has completed the research and development of lithium-rich manganese-based positive materials and sent samples for evaluation to multiple solid-state battery customers [1] Other Developments - Cambrian has denied rumors regarding large orders for carrier boards from a certain manufacturer [1] - Jiaxun Feihong has not collaborated with Huawei in the eSIM card communication module field [1] - Weifeng Electronics currently has products applied in the server power control field [1] - Saiteng Co., Ltd. has already delivered HBM equipment in batches [1] - Lens Technology is currently cooperating with customers to develop the next generation of cover glass [1] - Metro Design has developed a smart planning platform for urban rail transit based on multi-source data, which has been promoted in multiple cities [1] - Chongde Technology's dynamic pressure oil film sliding bearing products are mainly used in energy generation, industrial drive, petrochemical, and shipping fields [1] - Leyard provides display solutions for the "Panda Eye" training base [1] - Pengling Co., Ltd. has received mass production orders for its thermal management project from SAIC Passenger Vehicle [1]
新时达:计划今年9月推出具身智能焊接方案
Zheng Quan Shi Bao Wang· 2025-08-12 09:01
Core Viewpoint - The company, New Times Technology (新时达), plans to launch an embodied intelligent welding solution by September 2025 [1] Group 1 - The company has announced its intention to introduce a new welding solution [1]
新时达(002527.SZ):计划于2025年9月推出具身智能焊接方案
Ge Long Hui· 2025-08-12 08:47
Core Viewpoint - The company plans to launch an embodied intelligent welding solution by September 2025 [1] Company Summary - The company, 新时达 (002527.SZ), has announced its intention to introduce a new welding technology aimed at enhancing operational efficiency and capabilities in the welding sector [1]