每经编辑｜黄胜 1月7日，锋龙股份（002931.SZ）延续狂热走势，再度一字涨停，截至午盘，股价报42.2元/股，封板资金达24.2亿元，这已是该公司自2025年12月25日复牌 以来的连续第8个一字涨停板，区间累计涨幅达114.43%。 | | | 锋龙股份 | | | | | --- | --- | --- | --- | --- | --- | | | | 002931 LT | | | | | 42.20 | 高 | 42.20 市值 92.21亿 量比 | | | 1 | | | 42.20 ਜ਼ਿੰ | 流通 84.93亿 | | 换 | 0.1 | | 3.84 10.01% | チ | 42.20 市盈 369.94 | | 额 1555. | | | 同花顺 | 将于 2026-04-28披露《2025年年报》 | | | | | | 席弟 | | | | | | | 分时 日K | 間K | 目K | 五日 | 更多。 | | | 均线 ▼ 日线 MA5:35.19 10:28.52 20:24.21 30:22.52 | | | | | 即 | | 44.61 | | | | | 42 ...

2025年12月28日，锋龙股份发布股票交易异常波动公告，再次强调优必选未来36个月内不存在通过上市 公司重组上市的计划或安排。 而市场依旧狂热，截至公告日，锋龙股份已录得三连板，复牌后股票继续涨停，此轮上涨的累计涨幅已 超60%。 回顾历史，优必选曾于12月24日晚发布公告，称将斥资16.65亿元，收购锋龙股份43%股权。本次收购 完成后，锋龙股份控股股东将由诚锋投资变更为优必选，实际控制人由董剑刚变更为优必选创始人、董 事会主席周剑。 优必选表示，锋龙股份主要从事园艺机械引擎与电动整机、液压控制系统及汽车零部件的研发、生产及 销售，而优必选主要从事智能服务机器人产品及服务。此次并购预计将增强优必选整体产品竞争力、成 本结构、市场覆盖范围及实现量产的能力。 而市场或许将此次并购理解成优必选的"备壳"行为。一般而言，"壳"资源往往拥有市值适中、主业偏向 机械等传统行业、股权集中度高等特征，而锋龙股份上述几个特征都较为明显，难免引发市场揣测。 锋龙股份表示，该次交易完成之后，公司仍以原有业务为主，基本面不会发生重大变化；优必选将努力 优化上市公司管理及资源配置，提升上市公司持续经营能力和盈利能力，但公司转型升级 ...

12月24日晚间，港股上市公司优必选（9880.HK）与A股上市公司锋龙股份（002931.SZ）联合发布公 告，优必选拟通过"协议转让+要约收购"的组合方式，合计斥资约16.65亿元，收购锋龙股份约43%的股 份。 交易完成后 优必选将取得锋龙股份的控制权 交易完成后，优必选将取得锋龙股份的控制权，锋龙股份控股股东变更为优必选，实际控制人将由董剑 刚变更为优必选创始人周剑。锋龙股份股票于12月25日开市起复牌。 为确保对上市公司的绝对控制，公告明确了董事会重组安排。交易完成后，锋龙股份董事会将由7名董 事组成，其中优必选有权提名6名董事。同时，交易方案中包含了明确的业绩承诺（对赌条款）。卖方 承诺，锋龙股份在2026年、2027年及2028年三个会计年度，归属于母公司股东的净利润及扣除非经常性 损益后的净利润分别不低于1000万元、1500万元及2000万元 。 "H吃A"的跨市场并购 或是优必选意图获取A股上市平台 对于此次收购的目的，优必选在公告中表示，旨在通过整合其人形机器人技术与锋龙股份的制造实力、 供应链关系及客户群，加速人形机器人的开发与商业化，增强制造和量产能力。锋龙股份主要从事园艺 机械零部 ...

Core Viewpoint - UBTECH (09880) experienced a significant increase in stock price, rising by 7.21% to HKD 117.4, with a trading volume of HKD 38.57 million following the announcement of acquiring a controlling stake in Fenglong Co., Ltd. (002931) [1] Group 1: Acquisition Details - UBTECH announced the acquisition of 93,957,518 shares of Fenglong Co., Ltd., representing 43% of the total shares, through a combination of "agreement transfer + tender offer" [1] - The share transfer and tender offer price is set at RMB 17.72 per share, resulting in a total consideration of RMB 1.665 billion [1] Group 2: Company Background - Fenglong Co., Ltd. is recognized as a specialized and innovative high-tech enterprise, focusing on the research and manufacturing of lawn mowers, engines, hydraulic control systems, and automotive parts [1] - The company possesses strong precision manufacturing capabilities, a mature supply chain system, and a broad customer base [1] Group 3: Recent Contracts and Production Milestones - UBTECH recently secured contracts for the Bay Area Data Collection Center project in Huizhou and the procurement project for the Intelligent Technology Center in Hohhot, with contract amounts of RMB 59.62 million and RMB 77.8 million, respectively, totaling over RMB 130 million [1] - By 2025, UBTECH's total order amount for humanoid robots is expected to reach nearly RMB 1.4 billion, maintaining its leadership in the global humanoid robot industry [1] - On December 26, UBTECH's 1000th Walker S2 robot was produced at the Liuzhou Robot Super Smart Factory, achieving an annual production capacity of 1,000 units [1] - The company anticipates that its annual production capacity for humanoid robots will reach 10,000 units by 2026 [1]

Core Viewpoint - The acquisition of Fenglong Co., Ltd. by UBTECH Robotics is primarily a strategic move where a technology company seeks to enhance its manufacturing capabilities and supply chain efficiency, leveraging Fenglong's strengths in production [1][10]. Group 1: Acquisition Details - Acquirer: UBTECH Robotics (09880.HK), known as the "first stock of humanoid robots" [2]. - Target: Fenglong Co., Ltd. (002931.SZ), a listed company on the Shenzhen Stock Exchange [2]. - Acquisition Method: A combination of "agreement transfer + voluntary partial tender offer" [2]. - Acquisition Price: RMB 17.72 per share, approximately a 10% discount from the stock price before suspension, totaling RMB 1.665 billion [2]. - Post-acquisition Shareholding: UBTECH will hold about 43% of Fenglong's shares, becoming the controlling shareholder [2]. - Change of Control: The actual controller will change from Dong Jianggang to UBTECH's founder, Zhou Jian [2]. Group 2: Acquisition Process - The acquisition is structured as a "three-step" process to ensure a smooth transition of control [3]. - Step 1: UBTECH will first acquire 29.99% of shares from the original major shareholder at RMB 17.72 per share, totaling approximately RMB 1.161 billion [3]. - Step 2: The original shareholders will simultaneously relinquish voting rights corresponding to 13.01% of the remaining shares, allowing UBTECH to gain effective control with just 29.99% ownership [3]. - Step 3: Following the first step, UBTECH plans to launch a partial tender offer to acquire an additional 13.02% of shares, with the original shareholders committed to selling their 13.01% stake [3]. Group 3: Financial Aspects - Funding Source: The acquisition will be financed entirely through UBTECH's own cash reserves, including funds raised from a recent stock placement in Hong Kong, without using loans or leverage [4]. - UBTECH's Financial Status: The company has seen continuous revenue growth over the past three years, with projected revenue of approximately RMB 1.305 billion in 2024, but is currently in a strategic loss phase, expecting a net loss of about RMB 1.16 billion in 2024 [4]. Group 4: Commitments from Original Shareholders - Performance Commitments: The original shareholders have made binding commitments for Fenglong's net profits to be no less than RMB 10 million, RMB 15 million, and RMB 20 million for the years 2026, 2027, and 2028, respectively, with cash compensation required if targets are not met [5]. - Non-Compete Commitment: The original shareholders have agreed not to engage in competing businesses for two years post-transaction [7]. Group 5: Post-Acquisition Changes - Business Operations: There are currently no explicit plans to change Fenglong's main business, indicating a focus on integration and synergy rather than aggressive transformation [8]. - Management Team: The board will be restructured, with UBTECH entitled to nominate six out of seven directors, while the original shareholders can nominate one director as long as they hold at least 5% of shares [8]. - Independence Assurance: UBTECH and its actual controller, Zhou Jian, have committed to ensuring Fenglong's complete independence in terms of assets, business, personnel, finance, and organization, while avoiding competition and regulating related transactions [9]. Group 6: Strategic Intent Behind the Acquisition - The acquisition is a crucial step for UBTECH to achieve large-scale production and commercialization of humanoid robots, addressing production bottlenecks [13]. - By controlling a listed company, UBTECH not only secures a manufacturing base but also gains access to an A-share capital platform, facilitating future financing, brand exposure, and industry integration [13]. - The integration of Fenglong's manufacturing capabilities with UBTECH's robotics technology aims to create a complete industrial layout combining AI algorithms and precision manufacturing [14].

12月24日晚间，港股上市的人形机器人龙头优必选与A股上市公司锋龙股份联合发布公告，优必选拟通 过"协议转让+要约收购"组合方式，合计斥资约16.65亿元收购锋龙股份约43%股份，交易完成后将取得 锋龙股份控制权。 公开资料显示，锋龙股份主营园林机械零部件、液压控制系统及汽车零部件研发生产。2025年三季报显 示，公司业绩表现向好，营收3.73亿元，同比增长9.47%；净利润2151.85万元，同比大涨1714.99%。 对于此次收购的目的，优必选在公告中表示，这是公司完善产业链布局、强化核心竞争力的重要举措。 本次收购旨在结合自身技术优势与锋龙股份的制造、供应链能力深化协同，交易完成后锋龙股份仍以原 有业务为主，暂无改变主营业务的计划。 需要注意的是，优必选成立于2012年3月，专注于人形机器人全栈式技术研发，2023年在港交所上市， 是全球极少数具备人形机器人全栈式技术能力的企业。 不过，优必选尚未摆脱亏损泥潭。2022年-2024年，公司营业收入10.08亿元、10.65亿元、13.05亿元， 但净利润却为-9.87亿元、-12.65亿元、-11.6亿元。2025年前三季度，公司营收6.18亿元，净利润 ...

作者 | 郝文 编辑 | 趣解商业资讯组 12月24日，优必选（9880.HK）发布公告称，以"协议转让+要约收购"的组合方式共收购深交所上市公司锋龙股份（002931.SZ）93957518股（占锋龙股份公 司股份总数43%）。本次交易完成后，锋龙股份控股股东将由诚锋投资变更为优必选，实际控制人由董剑刚变更为优必选创始人、董事会主席周剑。 根据公告，本次控制权变更方案中的股份转让价格、要约收购价格均为17.72元/股（相比12月17日锋龙股份停牌前19.68元/股折让10%），以此计算，合计总 对价达16.65亿元。 图片来源：公告截图 12月25日，锋龙股份开盘一字涨停，报21.65元/股，市值47亿元。 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增減 | | 年同期增減 | | 营业收入(元) | 122. 199. 208. 07 | 8. 99% | 373,086,597.23 | 9.47% | | 归属于上市公司股东 | 6, 204, 449. 32 | 1,082.1 ...

Group 1 - The core point of the news is that Fenglong Co., Ltd. will change its controlling shareholder to UBTECH Robotics Corp., with Zhou Jian becoming the actual controller [1][2][3] - The share transfer agreement stipulates that Chengfeng Investment will transfer 29.99% of its shares in Fenglong at a price of 17.72 yuan per share, totaling 1.161 billion yuan [2][3] - After the share transfer, UBTECH will hold 29.99% of Fenglong's shares and corresponding voting rights, while the previous controlling shareholder will lose its voting rights [3][4] Group 2 - UBTECH aims to enhance its industrial chain layout and strengthen its core competitiveness through this strategic acquisition [4][5] - The collaboration will leverage UBTECH's technology in humanoid robots and Fenglong's manufacturing capabilities to promote the commercialization of humanoid robot technology [5] - Fenglong's projected net profits for 2024 and the first three quarters of 2025 are expected to be 4.59 million yuan and 21.52 million yuan, respectively [5][8] Group 3 - The shareholding structure will change significantly, with Chengfeng Investment's stake dropping from 39.49% to 9.50% after the transfer, and UBTECH's stake increasing to 29.99% [4] - The agreement includes a commitment from the transferors to ensure Fenglong achieves net profits of no less than 10 million yuan, 15 million yuan, and 20 million yuan for the years 2026, 2027, and 2028, respectively [9] - The recent surge in capital operations within the robotics industry indicates a growing interest and investment in this sector [10]

【财华社讯】优必选(09880.HK)公布，于2025年12月24日，公司与该等卖方订立股份转让协议，公司已 有条件同意收购及诚锋投资已有条件同意出售总计6552.99万股A股，约占目标公司浙江锋龙电气股份有 限公司(002931.SZ)全部已发行股本的29.99%，每股A股的价格为17.72元(人民币,下同)。 待销售股份转让完成后，公司将向建议受要约人提出部分要约收购2845万股A股，约占目标公司已发行 股本的13.02%，每股A股的价格为17.72元。 该等卖方已同意并不可撤销地承诺，彼等将申请预接受有关约2842.76万股A股，约占目标公司已发行股 本的13.01%的部分要约，并办理预接受的所有相关程序。此外，于完成销售股份转让至完成部分要约 期间，除公司另行同意外，该等卖方已承诺自愿放弃对预接受股份行使投票权。 总代价约16.65亿元应以现金支付，该现金将来源于公司的内部资源，包括公司通过一般授权配售事项 筹集的所得款项。 收购事项完成后，公司预期将拥有不少于约9395.75万股A股，约占目标公司全部已发行股本的43%。通 过控制目标公司的董事会，目标公司将成为公司的非全资附属公司，且目标集团的财务 ...

实际上，优必选的并购动作在约一个月前就显露端倪。12月2日，优必选宣布完成新一轮配售，共募集资 金净额约30.56亿港元，并将所募资金的75%——约22.92亿港元，在未来两年内用于机器人产业链上下游的 并购、投资或设立合资公司等。优必选管理层彼时表示，此次配售旨在巩固及加强公司在人形机器人产业 链的链主地位。 作为被收购方的锋龙股份，并非第一次"卖身"。2024年2月5日，锋龙股份公告，浙江顶度云享旅游有限公 司（下称"顶度云享"）、顶度云享的实际控制人陈向宏以及一致行动人桐乡欣享企业管理合伙企业（有限 合伙），拟通过协议转让方式取得公司29.99％的股份，以获取上市公司的控制权。但这项收购在5个月后 告吹。 财务数据上，锋龙股份2024年营收约4.79亿元，归属母公司股东的净利润约459.29万元。2025年前三季 度，锋龙股份营收约3.73亿元，归属母公司股东的净利润约2151.85万元。 股份转让价格、要约收购价格均为17.72元/股。以此计算，优必选最多需为此耗资16.65亿元。 成立于2003年的锋龙股份，主要从事园林机械发动机及电动整机、液压控制系统和汽车零部件的研发、生 产和销售。优必选管理层 ...