9月18日，蓝思科技在投资者互动平台表示，公司与北美大客户有长达十年的深度合作关系，是其一级核心供应商，在智能座舱 模组（中控、B柱、充电桩）占据主要份额。在人形机器人方面，公司已为多家人形机器人客户批量交付头部模组、关节模组、 灵巧手、躯干壳体结构件及整机组装，同时也在配合北美大客户开发人形机器人相关模组。 蓝思科技日前介绍，公司四个主要板块增长展望如下： (1）智能手机与电脑类，大客户进入新一轮外观改款和新机型发布的创新周期，公司作为外观件和结构件核心供应商将显著受 益；组装业务会进一步带动结构件业务，深挖垂直整合潜力，进一步提升利润水平。 （2）智能汽车与座舱类，无线充电模组、通讯模组和域控制器等新品不断导入，多功能超薄夹胶汽车玻璃取得突破，进入批量 生产阶段，单车价值量迎来较大提升。 （3）智能头显与智能穿戴类，公司研发和生产的外观件、结构件、光学镜片等部件在多款高端AI眼镜和头显产品上实现了应 用。智能手表相关的玻璃、金属、蓝宝石、陶瓷等结构件保持增长，并在一款即将发布的采用创新材质的智能手表结构件占有 领先市场份额，板块业务潜力有望进一步释放。 （4）其他智能终端类，除了具身智能市场不，蓝思科技凭 ...

Core Viewpoint - The company is experiencing growth in net profit due to effective cost control and increased production of new models, with a focus on high-margin assembly business and strategic partnerships in various sectors [2][3][4]. Group 1: Financial Performance - The company's net profit growth outpaced revenue growth in the first half of the year, primarily due to effective cost management and efficiency measures implemented at the Changsha facility [2]. - Revenue from the Changsha facility increased by 30.92% year-on-year, with significant improvements in gross margin [5]. - Blue Si Precision and Xiangtan Blue Si reported slight declines in revenue and net profit, attributed to product transfers and increased R&D expenses, but are expected to recover with new product launches [4]. Group 2: Business Segments and Growth - The assembly business's revenue share increased, contributing to stable overall gross margins, with plans to transition to high-end hardware assembly to enhance profitability [3]. - The wearable business saw an increase in gross margin due to a higher share of metal frames in smartwatches, with growth expected across four main segments: smartphones, smart automotive, smart headsets, and other smart devices [6]. - The automotive business is expanding through collaborations with over 30 leading domestic and international automotive companies, focusing on new product development and value enhancement [7]. Group 3: R&D and Innovation - R&D expenses increased by 29.15% to nearly 400 million, focusing on consumer electronics, AI glasses, humanoid robots, and automotive glass [8]. - The company has made significant breakthroughs in AI glasses technology, establishing itself as a core supplier for major North American clients [9]. - The company is actively pursuing opportunities in the AI server market, particularly in liquid cooling technology, with plans for product launches and capacity expansion [10].

2025年8月26日20:00 - 21:00，蓝思科技以业绩说明会及电话会议的形式，接待了共计260人次的机构调 研。参与单位包括Bernstein、华夏基金(香港)有限公司等众多知名机构。上市公司接待人员为副总经理 兼董事会秘书江南，以及副总经理兼财务总监刘曙光。以下为本次投资者关系活动的主要内容： 研发与技术合作 公司因新项目多产生较大研发和打样费用，与客户同研共创保证市场份额，同时加强研发立项管理，控 制费用在合理水平。在AI眼镜领域，公司是北美大客户核心供应商，与Rokid合作整机组装并应用自研 技术，随着产能放量，有望解决行业瓶颈。 具身智能业务布局 蓝思科技2016年成立智能机器人公司，2024年与人形机器人公司合作量产。具身智能创新中心聚焦研 发，公司具备整机定制及核心模组定制能力，已为合作伙伴交付整机，今年承接智元机器人业务，有望 带来更大增量。 上半年业绩剖析 上半年净利润增速高于收入增速，主要得益于成本费用管控及长沙公司降本增效，不过研发费用的增长 对短期利润有一定影响。二季度单季度净利润增速近30%，下半年公司计划适度管控研发。一季度因新 机型发售，带动稼动率提升，收入和利润同比增速较 ...