来源：新浪证券-红岸工作室 12月31日，恒辉安防涨3.47%，成交额6.72亿元，换手率15.65%，总市值70.54亿元。 异动分析 区间今日近3日近5日近10日近20日主力净流入-3399.42万2248.82万-1449.12万-2959.51万-7970.44万 主力持仓 人形机器人+机器人概念+石墨烯+人民币贬值受益+安防 1、2025年9月8日互动易：公司机器人柔性关节保护件部分产品，如机器人防护手套、机器人腰封件、 颈部包覆件等，已在人形机器人产品中实现商品交付使用。 2、根据2025年3月18日互动易，在机器人应用领域展现出巨大潜力。在机器人灵巧手腱绳材料领域，公 司研发团队通过特定编织工艺已经开发出多款基础腱绳测试样品，并通过纤维表面处理技术开发方案， 以进一步提升腱绳与驱动系统的摩擦力和耦合性能，通过开发复合结构腱绳，提升抗蠕变和抗疲劳性能 等等。经测试和反馈，公司样品在特定作业环境下抗拉伸力、破断强力、断裂伸长率、最小折弯半径、 摩擦系数、耐疲劳度等关键技术指标上均达到了预期效果。目前，公司已经与多家机器人领域具有领先 地位和创新实力的公司深度对接，旨在共同推进超高分子量聚乙烯纤维在机 ...

Core Viewpoint - The company, Henghui Security, is experiencing fluctuations in stock performance and is focusing on the development of advanced materials and robotics applications, which may present future growth opportunities [1][4]. Group 1: Company Overview - Henghui Security is primarily engaged in the research, production, and sales of hand safety protective products, with functional safety gloves accounting for 95.45% of its revenue [4][9]. - The company was established on April 15, 2004, and went public on March 11, 2021 [8]. - As of December 10, 2025, the number of shareholders is 13,800, a decrease of 4% from the previous period [9]. Group 2: Financial Performance - For the period from January to September 2025, Henghui Security achieved a revenue of 880 million yuan, representing a year-on-year growth of 0.97%, while the net profit attributable to shareholders decreased by 12.85% to 81.98 million yuan [9]. - The company has distributed a total of 149 million yuan in dividends since its A-share listing, with 101 million yuan distributed in the last three years [10]. Group 3: Market and Product Development - The company has developed several products in the robotics sector, including flexible joint protective components for humanoid robots, which have been delivered for use [2]. - In the field of new materials, the company has mastered key technologies for producing high-performance fibers containing graphene, enhancing cut resistance and comfort [3]. - The company’s overseas revenue accounts for 88.71%, benefiting from the depreciation of the RMB [4]. Group 4: Investment and Market Dynamics - The stock has seen a net inflow of 20,300 yuan today, with a total market capitalization of 5.671 billion yuan [1][5]. - The average trading cost of the stock is 33.46 yuan, with current price fluctuations between resistance at 34.08 yuan and support at 30.70 yuan [7].

来源：新浪证券-红岸工作室 12月18日，恒辉安防跌2.48%，成交额1.28亿元，换手率3.71%，总市值56.30亿元。 异动分析 人形机器人+石墨烯+机器人概念+人民币贬值受益+安防 1、2025年9月8日互动易：公司机器人柔性关节保护件部分产品，如机器人防护手套、机器人腰封件、 颈部包覆件等，已在人形机器人产品中实现商品交付使用。 2、在新材料领域，公司掌握了含有石墨烯的高性能纤维生产关键技术，通过添加石墨烯等改性材料， 该等高性能纤维材料的抗切割性和穿戴舒适度进一步提高；在新产品设计及生产工艺方面，公司开展了 石墨烯导电聚氨酯手套、石墨烯发热缝制手套等多个研发项目。 3、根据2025年3月18日互动易，在机器人应用领域展现出巨大潜力。在机器人灵巧手腱绳材料领域，公 司研发团队通过特定编织工艺已经开发出多款基础腱绳测试样品，并通过纤维表面处理技术开发方案， 以进一步提升腱绳与驱动系统的摩擦力和耦合性能，通过开发复合结构腱绳，提升抗蠕变和抗疲劳性能 等等。经测试和反馈，公司样品在特定作业环境下抗拉伸力、破断强力、断裂伸长率、最小折弯半径、 摩擦系数、耐疲劳度等关键技术指标上均达到了预期效果。目前，公司已 ...

Core Viewpoint - The company, Henghui Security, is experiencing fluctuations in stock performance and is involved in the development and production of safety protective products, particularly focusing on high-performance materials and robotics applications. Group 1: Company Overview - Henghui Security specializes in the research, production, and sales of hand safety protective products, with its main product being functional safety gloves featuring a "fiber + coating" dual protection structure [4]. - The company was established on April 15, 2004, and went public on March 11, 2021 [8]. - As of December 10, the company had 13,800 shareholders, a decrease of 4% from the previous period, with an average of 7,604 circulating shares per person, an increase of 4.17% [9]. Group 2: Financial Performance - For the period from January to September 2025, Henghui Security achieved operating revenue of 880 million yuan, a year-on-year increase of 0.97%, while net profit attributable to the parent company was 81.98 million yuan, a decrease of 12.85% year-on-year [9]. - The company's main business revenue composition includes functional safety gloves at 95.45%, ultra-high molecular weight polyethylene fibers and composite materials at 3.47%, and other protective products at 1.08% [9]. - The company has distributed a total of 149 million yuan in dividends since its A-share listing, with 101 million yuan distributed in the last three years [10]. Group 3: Market and Product Development - The company has made advancements in the field of robotics, particularly in flexible joint protective components for humanoid robots, with products like protective gloves and waist seals already delivered for use [2]. - In the new materials sector, the company has developed key technologies for producing high-performance fibers containing graphene, enhancing cut resistance and comfort [2]. - The company is exploring applications of ultra-high molecular weight polyethylene fibers in various areas of robotics, including shell materials and structural enhancements, although these applications are still in the exploratory and development stages [3]. Group 4: Market Dynamics - The company benefits from a significant overseas revenue share of 88.71%, aided by the depreciation of the Chinese yuan [4]. - The stock has seen a recent decline of 3.03%, with a trading volume of 158 million yuan and a turnover rate of 4.59%, leading to a total market capitalization of 5.638 billion yuan [1].

格隆汇12月12日丨恒辉安防(300952.SZ)公布，公司通过香港全资子公司恒辉香港在越南设立的全资子 公司恒辉（越南）安全防护用品有限公司负责实施越南"年产1,600万打功能性安全防护手套项目"，截 至目前,公司已经取得了南通市发展和改革委员会、江苏省商务厅颁发的合计4,100万美元ODI备案证 书。为加速推进越南项目建设运营，拟增加恒辉香港权益资本投资。本次增资金额为4,100万美元，增 资金额全部计入资本公积。本次增资完成后，恒辉香港的注册资本保持不变，仍为100万港币，公司仍 持有其100%股权。 ...

格隆汇12月12日丨恒辉安防(300952.SZ)公布，公司通过香港全资子公司恒辉香港在越南设立的全资子 公司恒辉（越南）安全防护用品有限公司负责实施越南"年产1,600万打功能性安全防护手套项目"，截 至目前,公司已经取得了南通市发展和改革委员会、江苏省商务厅颁发的合计4,100万美元ODI备案证 书。为加速推进越南项目建设运营，拟增加恒辉香港权益资本投资。本次增资金额为4,100万美元，增 资金额全部计入资本公积。本次增资完成后，恒辉香港的注册资本保持不变，仍为100万港币，公司仍 持有其100%股权。 ...

Core Viewpoint - The company, Henghui Security, is experiencing fluctuations in stock performance and is involved in the development and production of safety protective gloves and materials, with a significant focus on robotics and new materials applications. Group 1: Company Performance - On December 12, Henghui Security's stock fell by 1.85%, with a trading volume of 193 million yuan and a turnover rate of 5.45%, bringing the total market capitalization to 5.773 billion yuan [1] - For the period from January to September 2025, Henghui Security achieved a revenue of 880 million yuan, representing a year-on-year growth of 0.97%, while the net profit attributable to shareholders decreased by 12.85% to 81.98 million yuan [9] - The company has distributed a total of 149 million yuan in dividends since its A-share listing, with 101 million yuan distributed over the past three years [10] Group 2: Business Overview - Henghui Security specializes in the research, development, production, and sales of hand safety protective products, with functional safety gloves accounting for 95.45% of its main business revenue [4][9] - The company has a significant international presence, with overseas revenue accounting for 88.71%, benefiting from the depreciation of the RMB [4] - The company is exploring applications of ultra-high molecular weight polyethylene fibers in robotics, focusing on materials for robotic joints and other innovative applications [2][3] Group 3: Technological Development - The company has developed key technologies for producing high-performance fibers containing graphene, enhancing cut resistance and comfort in protective gloves [3] - In the robotics sector, the company is collaborating with leading firms to advance the application of ultra-high molecular weight polyethylene fibers in robotic materials [3] - The company is also engaged in multiple R&D projects for graphene-based products, including conductive polyurethane gloves and heating sewn gloves [3]

Core Viewpoint - The company, Henghui Security, is experiencing fluctuations in stock performance and is involved in the development and production of safety protective products, particularly focusing on hand safety gloves and advanced materials for robotics applications [1][4][9]. Group 1: Company Performance - On December 11, Henghui Security's stock fell by 3.29%, with a trading volume of 249 million yuan and a market capitalization of 5.882 billion yuan [1]. - For the period from January to September 2025, the company achieved a revenue of 880 million yuan, representing a year-on-year growth of 0.97%, while the net profit attributable to shareholders decreased by 12.85% to 81.98 million yuan [9]. - The company has distributed a total of 149 million yuan in dividends since its A-share listing, with 101 million yuan distributed over the past three years [10]. Group 2: Business Overview - Henghui Security specializes in the research, production, and sales of hand safety protective products, with functional safety gloves accounting for 95.45% of its main business revenue [4][9]. - The company has developed high-performance fibers incorporating graphene, enhancing cut resistance and comfort in its products, and is working on various R&D projects including graphene conductive polyurethane gloves [3][4]. - The company has a significant international presence, with overseas revenue accounting for 88.71%, benefiting from the depreciation of the Chinese yuan [4]. Group 3: Industry Trends - The robotics sector presents substantial growth potential, with the company actively engaging in the development of materials for robotic applications, including high molecular weight polyethylene fibers [2][3]. - The company is exploring innovative applications of high-performance materials in robotics, although these developments are still in the exploratory and ongoing development stages [3].

Group 1: Company Overview - Jiangsu Henghui Security Group Co., Ltd. was established in 2004 and is headquartered in Nantong, Jiangsu, focusing on functional safety protective gloves [1] - The company has been dedicated to the niche market of functional safety gloves for 21 years, differentiating itself from ordinary yarn gloves and disposable nitrile gloves [1] Group 2: Production Capacity Expansion - The company has initiated a large-scale expansion plan with a domestic capacity of 72 million pairs and a Vietnam capacity of 16 million pairs, currently accelerating production line adjustments and capacity release [2] Group 3: Diversification and New Business Segments - The company is extending its business upstream, creating a diversified ecosystem with two new growth areas: 1. Ultra-high molecular weight polyethylene fiber business, with a total planned capacity of 12,000 tons, where 3,000 tons are already operational [3] 2. Biodegradable polyester rubber business, with a planned capacity of 110,000 tons, aiming for mass production by the end of the lunar year [3] Group 4: Robotics Business Development - The robotics business is a natural extension of the company's core operations, leveraging its expertise in glove manufacturing to develop robotic skin and joint protection products [4][5] - The company is actively developing integrated solutions for robotic tendon ropes and flexible joint protection components, with successful product deliveries already achieved [6] Group 5: Market Trends and Future Outlook - The company anticipates that robotic skin and gloves will transition from auxiliary components to core necessities, supporting the expansion of humanoid robots into various consumer service scenarios [6][7] - The company is committed to a phased approach for technological development, focusing on integrating sensors into skin products to reduce costs and enhance market adaptability [8] Group 6: Order Status and Market Response - The company reports a positive trend in glove orders, with recovery in the U.S. market following the easing of tariff policies and increased production capacity in Vietnam [8]

Core Viewpoint - The company, Henghui Security, is experiencing fluctuations in stock performance and is involved in the development of advanced materials for robotics and safety products, with a significant portion of its revenue coming from overseas markets benefiting from currency depreciation [1][4]. Group 1: Company Overview - Henghui Security Group Co., Ltd. specializes in the research, production, and sales of hand safety protective products, primarily functional safety gloves with a "fiber + coating" dual protection structure [4][8]. - The company was established on April 15, 2004, and went public on March 11, 2021 [8]. Group 2: Financial Performance - For the period from January to September 2025, Henghui Security achieved operating revenue of 880 million yuan, a year-on-year increase of 0.97%, while net profit attributable to shareholders decreased by 12.85% to 81.98 million yuan [9]. - The company's overseas revenue accounted for 88.71% of total revenue, benefiting from the depreciation of the Chinese yuan [4]. Group 3: Product Development and Innovation - The company has developed various products for humanoid robots, including protective gloves and flexible joints, which have been delivered for use [2]. - In the field of new materials, the company has mastered key technologies for producing high-performance fibers containing graphene, enhancing cut resistance and comfort [3]. Group 4: Market Position and Trends - The main business revenue composition includes functional safety gloves (95.45%), ultra-high molecular weight polyethylene fibers and composite materials (3.47%), and other protective products [9]. - The company is actively exploring applications of ultra-high molecular weight polyethylene fibers in robotics and other innovative material uses, although these applications are still in the exploratory and development stages [3].