嵘泰股份 20250811 摘要 荣泰股份 2022 年已关注奥多电子，董事长以个人名义投资 4,000 万元， 共同融资 1 亿元，旨在规避风险并观察其发展潜力。 奥多电子专注于汽车电动踏板、电动尾门等产品，凭借创新设计迅速占 领国内市场，成为赛力斯、理想等主机厂的重要供应商，预计 2025 年 销售额达 8 亿元。 收购奥多电子旨在扩展原有产品市场，整合资源实现技术和市场协同效 应，并借助其技术能力和国际客户认可度，进一步提升销售额和净利润。 奥多电子积极开拓国际市场，与奔驰、宝马等车企合作，预计 2026 年 开始量产，国外客户报价毛利率可达 35%，显著高于国内市场。 荣泰股份收购奥都电子预计可获得较好投资收益，2025 年奥都电子净 利润预计超 6,000 万元，2026 年销售额至少达 10 亿元，未来两年年 增长率不低于 30%。 荣泰股份计划通过现有渠道帮助奥都电子拓展欧洲和北美市场，并共享 汽车电机及机器人零部件研发成果，加速新产品开发，提高产品性能并 降低成本。 奥都电子电机研发底层能力来自博世退休专家团队，已开发出机器人和 机器狗用电机，并计划在 2026 年取消外包，实现自给自足，同时 ...

Group 1 - The core point of the news is the significant rise in the stock price of Shangwei New Materials, which reached 110.48 yuan per share, making it the first stock in A-shares to achieve a 15-fold increase this year, driven by the announcement of a controlling stake acquisition by Zhiyuan Robotics [1] - The stock price of Shangwei New Materials has surged by 1566.62% this year, leading to a total market capitalization of 44.563 billion yuan [1] - The humanoid robot industry is experiencing a surge in orders, technological iterations, and active capital, indicating a vibrant market environment [1] Group 2 - As of August 4, 2023, Zhiyuan Robotics has won 9 projects, Yushu Technology has won 68 projects, and Ubtech has won 16 projects, with the number of bids approaching or exceeding last year's total [3] - The largest single order this year is a 124 million yuan project for humanoid biped robot outsourcing services, shared between Zhiyuan Robotics and Yushu Technology [3] - Current orders are primarily focused on interactive service areas such as performance explanation and exhibition guidance, which are seen as essential for accumulating data and experience for future industrial and household applications [3] Group 3 - The trend of lightweight design is becoming a core focus in humanoid robot development, with companies like Tesla and Boston Dynamics enhancing robot performance through material and structural optimizations [4] - The industry is transitioning from the concept introduction phase to a critical stage of commercialization, driven by technological breakthroughs and market demand [4] - Upstream companies are responding to the demand for lightweight solutions, with significant investments in production capabilities and new product development [4] Group 4 - The domestic embodied intelligence sector is characterized by a "hardware-software synergy and full industry chain layout," focusing on humanoid robot bodies and core components on the hardware side, and embodied intelligence algorithms and system development on the software side [5] - Companies like Fuda Co., Fuliwang, and Changhua Group are transforming their technologies to create new growth avenues, with Fuda positioning key robot components as a strategic business [5] - The industry is witnessing a capital frenzy, with companies like Yushu Technology initiating IPO guidance and Zhiyuan Robotics achieving a capital breakthrough through the acquisition of Shangwei New Materials [5]