[Table_Info1] [Table_Title] 证券研究报告 / 公司点评报告 技术赋能转型，具身智能赛道再添新力 --- 点评报告 [Table_Summary] 事件：公司以 1 亿元全资设立机器人子公司，同步调整组织架构增设机 器人业务板块。这是其依托汽车零部件领域积累的高精密制造技术优势， 向具身智能核心赛道延伸的关键布局，既契合高端制造产业升级趋势， 也为公司开辟了第二增长曲线。 深耕汽车零部件，顺势延伸布局具身智能。公司在模具开发、高精密加 工及热处理领域拥有核心技术，转型具备天然协同性。同时公司在发动 机高压共轨系统喷油器、新能源汽车电机轴等产品上积累了成熟的精密 制造经验，这些能力与机器人核心零部件的生产要求高度匹配。其次公 司此前有提前布局研发，很大程度上降低转型试错成本。已在 9 月与长 三角哈特机器人产业技术研究院签署共建研发实验室协议，由研究院组 建技术团队，公司提供场地、资金及设备支持，联合研发机器人关键零 部件，为子公司业务落地奠定技术基础。子公司注册资本 1 亿元，经营 范围包含：智能机器人的研发；智能机器人销售；人工智能行业应用系 统集成服务；人工智能基础资源与技术平台 ...

Core Viewpoint - Tieliu Co., Ltd. (铁流股份) is expanding into the robotics sector by signing a framework cooperation agreement with the Yangtze River Delta Hart Robot Industry Technology Research Institute (哈特研究院) to develop key components for robots [1][2] Group 1: Cooperation Agreement - The cooperation will focus on the design of key robot components, mechatronic control parameter matching, and performance testing and evaluation of robot components [1] - Hart Research Institute is a high-level research institution established to meet local robotics industry development needs and innovation requirements [1] - Tieliu will provide facilities, accommodation, and financial support, while Hart will assemble a technical team and manage laboratory operations [1][2] Group 2: Strategic Extension - Tieliu aims to leverage its core advantages in mold development, precision machining, and heat treatment to strategically extend into the core components of robotics [2] - The collaboration is expected to enhance Tieliu's R&D capabilities and strengthen its core competitiveness, aligning with the company's long-term development strategy [2] - The project has a certain timeline and may face uncertainties due to macroeconomic factors, technological maturity, and policy changes [2] Group 3: Company Overview - Tieliu is a global company integrating intelligent manufacturing and smart services, with three main business segments: automotive transmission system manufacturing, high-precision component manufacturing, and commercial vehicle full vehicle parts smart services [2] - The core products include automotive clutches, high-pressure common rail system injectors, and electric motor shafts for new energy vehicles [2] - Tieliu has decades of experience in the commercial vehicle aftermarket through its subsidiaries [2]

Group 1 - The core point of the news is that Tieliu Co., Ltd. (铁流股份) plans to enter the robotics sector by signing a framework cooperation agreement with the Yangtze River Delta Hart Robotics Industry Technology Research Institute [1] - The cooperation will focus on the design and manufacturing of key components for robots, including high-precision and high-efficiency parts, as well as adaptive control technology research [1][2] - Hart Research Institute is a high-level research institution established to meet local robotics industry development needs and innovation requirements, with various research facilities and partnerships [1] Group 2 - According to the agreement, Tieliu will provide facilities, accommodation, and financial support, while Hart Research Institute will assemble a technical team [2] - All intellectual property rights resulting from the collaboration will belong to Tieliu, even if the research is halted midway [2] - Tieliu aims to leverage its core advantages in mold development, precision machining, and heat treatment to strategically extend into the core components of robotics [2] Group 3 - Tieliu Co., Ltd. operates in three main business segments: automotive transmission system manufacturing, high-precision component manufacturing, and commercial vehicle full-component smart services [3] - The core products include automotive clutches, high-pressure common rail system injectors, and electric motor shafts for new energy vehicles [3] - The company has established a strong presence in the commercial vehicle aftermarket through its subsidiaries, which have decades of operational experience [3]