2025年11月21日下午，作为" 2025宝山·智能机器人产业大会暨嘉年华 "重要组成部分的「 核心技术与 零部件主题论坛 」在 上海市 宝山 区 顺利召开。论坛由上海市宝山区人民政府与上海大学共同主办，上 海机器人产业园、机器之心、智慧湾科创园协办，宝山区科技创新开发管理委员会、顾村镇人民政府及上 海大学机电工程与自动化学院联合承办。 本次 论坛 聚焦机器人核心部件与系统级技术的突破与产业化路径，吸引产业链上下游企业、科研机构及 行业专家齐聚一堂，共探机器人 "内核"技术的现在与未来。 线上直播观看人次 数万 ，反响热烈。 坤维（北京）科技有限公司联合创始人兼 CTO袁明论 带来《每一份力量都被看见，机器人力觉传感器技 术产业化》的演讲。他强调，高精度力觉传感是机器人实现细腻操作与交互智能的 "感知基石"，并分享了 其在多场景下的产业化实践。 清能德创电气技术（北京）有限公司副总经理孙磊 聚焦《关节执行器在具身智能产业链中的位置及其发展 方向》，指出关节执行器作为机器人的 "动力关节"，正向高扭矩密度、高响应与智能化方向发展，是具身 智能落地的重要支撑。 上海市宝山区科技创新开发管理委员会副主任赵一霖 进 ...

11月21日，中大力德涨5.09%，截至发稿，报88.80元/股，成交6.62亿元，换手率3.93%，总市值174.51 亿元。中大力德股价已经连续4天上涨，区间累计涨幅5.06%。 资料显示，宁波中大力德智能传动股份有限公司位于浙江省宁波市慈溪市新兴产业集群区宗汉街道新兴 一路185号，成立日期2006年8月28日，上市日期2017年8月29日，公司主营业务涉及从事机械传动与控 制应用领域关键零部件的研发、生产、销售和服务。主营业务收入构成为：智能执行单元38.49%，减 速电机37.00%，精密减速器22.41%，其他(补充)1.30%，配件0.80%。 从中大力德十大流通股东角度 数据显示，景顺长城基金旗下1只基金位居中大力德十大流通股东。景顺长城国证机器人产业ETF （159559）三季度新进十大流通股东，持有股数72.11万股，占流通股的比例为0.37%。根据测算，今日 浮盈赚取约310.07万元。连续4天上涨期间浮盈赚取293.49万元。 景顺长城国证机器人产业ETF（159559）成立日期2023年11月30日，最新规模26亿。今年以来收益 20.71%，同类排名2431/4208；近一年收益1 ...

Group 1: Company Performance - In the first three quarters of 2025, the company achieved operating revenue of 2.675 billion yuan, a year-on-year decrease of 12%, primarily due to a decline in the main watch business revenue [2] - The company aims to maintain its brand positioning as a high-quality Chinese watch brand with a focus on aerospace and aviation watches, emphasizing product innovation and precise marketing strategies [2] Group 2: Strategic Transformation - The company is actively promoting strategic transformation and upgrading, focusing on enhancing precision manufacturing technology and solutions in the precision technology sector [3] - The precision technology business is expanding into aerospace, medical devices, and robotics, although these areas currently contribute a small proportion to overall revenue [3] Group 3: Acquisition Plans - The acquisition of Chang Kong Gear is ongoing, with the company conducting audits and evaluations; however, the transaction plan has not been finalized and remains uncertain [4] - Chang Kong Gear specializes in precision components and has experience in research, production, and manufacturing, primarily serving aerospace and high-end equipment sectors [3] Group 4: Future Outlook - The company is committed to stabilizing its core watch business while accelerating its transformation and upgrading efforts to enhance overall business performance [4] - The company has implemented four phases of B-share repurchase since 2019, using approximately 279.14 million Hong Kong dollars to repurchase and cancel about 41.06 million B-shares [5]

Core Viewpoint - The stock of Ningbo Zhongda Lide Intelligent Transmission Co., Ltd. has shown significant price movements and trading activity, indicating investor interest and potential growth in the mechanical transmission and control sector [1][2]. Group 1: Stock Performance - As of November 18, Zhongda Lide's stock price increased by 2.08%, reaching 84.88 CNY per share, with a trading volume of 260 million CNY and a market capitalization of 16.681 billion CNY [1]. - The stock has risen 189.24% year-to-date, with a 2.51% increase over the last five trading days, but has seen a decline of 4.71% over the past 20 days and 16.51% over the last 60 days [1]. - The company has appeared on the trading leaderboard 17 times this year, with the most recent instance on September 15, where it recorded a net purchase of 311 million CNY [1]. Group 2: Company Overview - Zhongda Lide, established on August 28, 2006, and listed on August 29, 2017, specializes in the research, production, sales, and service of key components in the mechanical transmission and control application fields [2]. - The company's revenue composition includes intelligent execution units (38.49%), reduction motors (37.00%), precision reducers (22.41%), and other components (1.30%) [2]. - As of September 30, the company had 86,300 shareholders, an increase of 51.99%, with an average of 2,276 circulating shares per shareholder, a decrease of 34.21% [2]. Group 3: Financial Performance - For the period from January to September 2025, Zhongda Lide reported a revenue of 765 million CNY, reflecting a year-on-year growth of 3.14%, and a net profit attributable to shareholders of 57.21 million CNY, up 0.48% year-on-year [2]. - The company has distributed a total of 160 million CNY in dividends since its A-share listing, with 61.98 million CNY distributed over the past three years [3]. Group 4: Institutional Holdings - As of September 30, 2025, the top ten circulating shareholders include several ETFs focused on robotics, with notable increases in holdings from some and exits from others [3]. - The top three circulating shareholders include the E Fund National Index Robotics Industry ETF, holding 3.7161 million shares, and the Huaxia CSI Robotics ETF, which increased its holdings by 606,000 shares [3].

Group 1 - The core point of the article highlights the performance of Ningbo Zhongdali Intelligent Transmission Co., Ltd., which saw a stock price increase of 5.05% to 84.49 CNY per share, with a trading volume of 382 million CNY and a turnover rate of 2.34%, resulting in a total market capitalization of 16.604 billion CNY [1] - The company, established on August 28, 2006, and listed on August 29, 2017, specializes in the research, production, sales, and service of key components in the mechanical transmission and control application fields [1] - The main business revenue composition includes intelligent execution units at 38.49%, reduction motors at 37.00%, precision reducers at 22.41%, with other supplementary components at 1.30% and accessories at 0.80% [1] Group 2 - Tianhong Fund's Tianhong CSI Robot ETF (159770) is among the top ten circulating shareholders of Zhongdali, having increased its holdings by 225,100 shares in the third quarter, totaling 1,294,400 shares, which represents 0.66% of the circulating shares [2] - The Tianhong CSI Robot ETF, established on October 26, 2021, has a latest scale of 9.078 billion CNY, with a year-to-date return of 24.13%, ranking 2292 out of 4216 in its category, and a one-year return of 23.32%, ranking 1783 out of 3956 [2] Group 3 - The fund managers of Tianhong CSI Robot ETF are Liu Xiaoming and Qi Shichao, with Liu having a cumulative tenure of 7 years and 54 days, managing assets totaling 19.894 billion CNY, achieving a best fund return of 65.27% and a worst return of -46.54% during his tenure [3] - Qi Shichao has a cumulative tenure of 300 days, managing assets of 32.53 billion CNY, with a best fund return of 48.41% and a worst return of 3.64% during his tenure [3]

新华财经北京11月15日电（记者刘旭阳 袁波） 记者近日从富临精工获悉，目前，智元创新（上海）科技有限公司（下称"智元"）具身工业机器人已部署 于富临精工多个产线关键点位，覆盖从原料处理到装配等多个环节。 电关节开始小批量交付 富临精工总经理王军告诉记者，富临精工自2022年起布局机器人电关节及其关键零部件业务，目前已建成一条年产15万套的中试线，其机器人电关节相关 产品进入小批量生产与交付阶段。 富临精工在汽车零部件行业有二十余年的积累。"我们自1997年成立以来，始终专注于汽车零部件核心技术的迭代与产品拓展。"王军说，目前富临精工在 汽车零部件领域的产品线已覆盖液压挺柱等传统发动机精密件、新能源电驱动系统零部件、新能源汽车热管理系统、混动变速箱与电控系统以及智能悬架 系统等多个关键板块，可变气门正时系统（VVT）等多项产品在行业具备技术优势。 王军指出，富临精工在汽车零部件制造中聚焦研发"技术含量高、附加值高、开发难度高"的精密产品，对"质量、成本及工业化水平"始终贯彻高标准。这 种长期积淀，使得公司在切入机器人零部件制造领域时，能够更快适应市场需求。在技术层面，汽车与机器人两大领域在核心零部件方面存在显 ...

Core Insights - Precision reducers are critical components for humanoid and industrial robots, with significant market growth expected by 2030, particularly in the harmonic reducer segment [1][3] - The domestic precision reducer manufacturers are making technological breakthroughs, benefiting from the ongoing domestic substitution process [1][3] Market Overview - The precision reducer market is steadily growing, with the harmonic reducer market in China reaching 2.49 billion yuan in 2023, showing a CAGR of 16.54% from 2019 to 2023 [2] - The RV reducer market is projected to reach 6 billion yuan by 2025, with Japanese companies currently holding a leading position [2] - The global precision planetary reducer market is expected to grow from 929 million USD in 2020 to 1.376 billion USD in 2024, with a CAGR of 10.32% [2] Demand and Technological Advancements - The humanoid robot market is anticipated to exceed 20 billion USD by 2028, creating substantial demand for precision reducers [3] - The estimated incremental market size for precision reducers ranges from 12.6 billion to 28.8 billion yuan by 2030, with harmonic reducers contributing 9 billion to 21.6 billion yuan [3] - Domestic precision reducer manufacturers are narrowing the gap with international standards through independent research and advanced technology adoption, enhancing the trend of domestic substitution [3]

Core Insights - The A-share market showed a strong upward trend, with the Shanghai Composite Index rising by 0.97% to 4007.76 points, and the Shenzhen Component Index increasing by 1.73% [2][8] - The total trading volume in the A-share market reached approximately 2.05 trillion RMB, with over 2800 stocks experiencing gains [2][8] - The leading sectors included non-ferrous metals, electronics, and telecommunications, while the media sector lagged behind [2][8] - In the Hong Kong market, the Hang Seng Index closed up by 2.12%, and the Hang Seng Tech Index rose by 2.74% [2][8] - In contrast, all three major US stock indices closed lower, with the Dow Jones down by 0.84%, the S&P 500 down by 1.12%, and the Nasdaq down by 1.9% [2][8] Important News - President Xi Jinping emphasized the high-standard construction of the Hainan Free Trade Port, marking it as a significant step towards expanding high-level opening-up and promoting an open world economy [3][9] - The strategic goal of the Hainan Free Trade Port is to become a key gateway for China's new era of opening-up, focusing on high-quality development and integrating with major economic regions [3][9] Fund Allocation Insights - As of Q3 2025, the total net value of all funds in the market reached 35.16 trillion RMB, with equity and mixed funds accounting for 24.33% of the total [10] - The overall fund position increased to 80.03%, with equity mixed funds at 74.77% and ordinary equity funds at 82.14% [10] - The performance of various fund types varied significantly, with equity funds achieving a return of 24.14% and mixed funds at 20.87% for the quarter [11] Beauty and Personal Care Sector - In Q3 2025, the fund allocation ratio for the beauty and personal care sector decreased to 0.20%, indicating a low allocation level [14][15] - The medical beauty sub-sector remains in an overweight position, while personal care and cosmetics are underweighted [15][16] - The top three stocks in the beauty and personal care sector by fund allocation are Jinbo Biological, Aimeike, and Baiya Shares, although their allocation ratios have declined [16] Precision Reducer Industry - The precision reducer is a core component in the transmission field, crucial for humanoid robots, with significant market potential expected by 2030 [18][21] - The market for precision reducers is projected to grow substantially, with the domestic market for harmonic reducers expected to reach 24.9 billion RMB in 2023, growing at a CAGR of 16.54% from 2019 to 2023 [20] - The domestic production of precision reducers is increasing, with local manufacturers gradually closing the gap with international standards, indicating a strong trend towards domestic substitution [22]

Core Viewpoint - The stock of Ningbo Zhongdali Intelligent Transmission Co., Ltd. has experienced fluctuations, with a year-to-date increase of 192.37% but a recent decline in the last five and twenty trading days [1] Company Overview - Ningbo Zhongdali Intelligent Transmission Co., Ltd. was established on August 28, 2006, and listed on August 29, 2017. The company specializes in the research, production, sales, and service of key components in the mechanical transmission and control application fields [2] - The main revenue composition includes: intelligent execution units (38.49%), reduction motors (37.00%), precision reducers (22.41%), other (1.30%), and accessories (0.80%) [2] - The company belongs to the machinery equipment industry, specifically general equipment and metal products, and is associated with concepts such as smart logistics, express delivery, humanoid robots, and reducers [2] Financial Performance - For the period from January to September 2025, the company achieved operating revenue of 765 million yuan, a year-on-year increase of 3.14%, and a net profit attributable to shareholders of 57.21 million yuan, a year-on-year increase of 0.48% [2] - Since its A-share listing, the company has distributed a total of 160 million yuan in dividends, with 61.98 million yuan distributed in the last three years [3] Shareholder Structure - As of September 30, 2025, the number of shareholders increased to 86,300, up by 51.99%, with an average of 2,276 circulating shares per person, a decrease of 34.21% [2] - The top ten circulating shareholders include several ETFs focused on robotics, with notable changes in holdings among these funds [3]

Company Overview - The company, Yinchuan Weili Transmission Technology Co., Ltd., specializes in precision reducers and has established a comprehensive information management system to streamline production processes [1]. - The company has developed various systems including PLM, ERP, MES, and DNC to enhance production management efficiency [1]. Production Advantages - The company offers a wide range of customized products, which necessitates a complex production management process [1]. - The manufacturing of wind power reducers involves multiple advanced processes, ensuring high quality and stability, with a product lifespan of up to 20 years and a warranty period of 5 years [2]. Manufacturing Process - The wind power reducers are multi-stage planetary gear reducers, requiring precise manufacturing techniques to meet GB6 grade accuracy standards [2]. - The company employs five-axis CNC machining centers for integrated production, enhancing the precision of components [2]. Market Outlook - The global wind power installation capacity is expected to grow significantly, with an estimated addition of 981 GW from 2025 to 2030, averaging 164 GW per year, which will drive demand for core components like speed reducers [3]. - In China, the wind power market is expanding rapidly, with a reported 61.09 GW of new installations in the first nine months of 2025, a year-on-year increase of 56.2% [3]. - The market for main gearboxes in China's wind power sector is projected to grow from approximately $3.136 billion in 2023 to $4.263 billion by 2030, indicating a robust market outlook [3]. Technological Barriers - The design and manufacturing of wind turbine speed reducers involve high requirements for reliability, longevity, and compactness, necessitating rigorous testing and validation processes [2]. - Continuous technological advancements in the industry are pushing for higher reliability and precision in speed reducers, leading to market consolidation around companies with technological advantages [3].