证券代码：000026/200026 证券简称：飞亚达/飞亚达 B Q：本次收购后，公司后续战略重心是否会转向精密科技业务？ A：公司手表业务仍是基本盘业务，未来会以"高质量发展"为指 导原则，一方面深耕现有手表业务，持续巩固在国内名表及国表市 场的领先地位，提升核心竞争力；另一方面加快发展精密科技业务 和智能穿戴业务等战略新兴产业，增强核心功能。 Q：大股东未来有资产注入计划吗？公司未来有别的收购计划吗？ A：公司拟收购长空齿轮是基于战略发展需求的市场化行为，有利 于公司长期发展，得到了股东单位的高度重视与大力支持。当前， 公司将重点积极推进本次收购项目顺利实施，暂无其他应披露而未 披露事项。 Q：请问公司精密科技业务与长空齿轮有什么协同性？如完成收 购，公司后续对长空齿轮有什么规划？ A：公司和长空齿轮双方具备精密机械零部件制造的技术协同基础， 如本次收购顺利完成，公司将发挥自身资源与平台优势，从研发投 入、人才队伍、市场拓展、资金等多个维度对长空齿轮进行赋能， 协同长空齿轮积极强化精密齿轮、精密减速器等产品的技术能力及 市场应用，提升公司精密科技业务核心竞争力与整体效益。 Q：请问长空齿轮目前业务有涉及 ...

飞亚达 20250606 摘要 飞亚达 2024 年总营收约 40 亿元，净利润 2.85 亿元，华南区贡献 47%营收。公司积极拓展精密科技和智能穿戴业务，其中极狐品牌智能 手表是亮点，物业租赁占比约 3.3%。 飞亚达收购精密齿轮制造商 PROPDO，旨在加速精密制造领域发展， PROPDO 在航空航天小模数齿轮和减速器方面具有领先优势，是国家级 专精特新小巨人企业。 飞亚达对手表业务保持信心，认为长期市场前景广阔，尽管短期可能受 消费环境影响。PROPDO 估值基于技术能力和市场前景，收购旨在增强 技术实力和拓展高潜力市场。 飞亚达将手表和精密制造作为未来发展重点，手表业务是业绩基本盘， 精密制造是转型升级方向。PROPDO 过去几年收入稳健增长，但 2024 年受航空航天项目波动影响。 飞亚达期望 PROPDO 保持与宏观经济一致的增速，尤其看好 C919 等 民用航空领域。飞亚达将在新产业方面赋能 PROPDO，实现资源互补， 推动高端装备等领域发展。 Q&A 飞亚达公司目前的业务结构是怎样的？ 飞亚达公司成立于 1987 年，主要从事手表业务。目前，公司有几块主要业务： 第一块是自主品牌手表，以飞 ...

每经记者｜张静 西安 每经编辑｜贺娟娟 陕西汉中长空齿轮厂的车间里，生产线上已成型的中小模数精密齿轮，不仅驱动着航空航天飞行控制系统，或将改变中国腕表业的竞争格局。 6月4日，国产腕表巨头飞亚达宣布拟以现金收购关联方陕西长空齿轮有限责任公司（以下简称"长空齿轮"）控股权，意在锁定高端精密制造能力。 陕西长空齿轮是国内小模数齿轮领域的"隐形冠军"，其控股股东与飞亚达同属中航工业集团旗下控制的公司，因此上述收购构成关联交易。 在传统钟表消费持续萎靡的当下，营收和净利润双下滑的飞亚达，正通过加码航空航天表，布局智能穿戴设备和精密科技，寻找新的增长曲线，这笔交易背 后，或是飞亚达突破技术瓶颈的关键一跃。 而对地处秦巴山区的陕西汉中而言，长空齿轮并非首例被收购的本土公司，这座"三线"重镇，近年来正通过原有产业积累和新产业基因导入，其优质产业资 产引发多起资本并购，背后亦是汉中产业价值的重估。 拟收购汉中齿轮厂 未来，飞亚达旗下腕表、智能穿戴设备等产品的核心零部件，或有一家陕西齿轮厂的身影。 根据飞亚达6月4日发布的公告，公司已与汉中汉航机电有限公司（以下简称"汉航机电"）签署《股权收购意向协议》，计划以现金方式收购长空 ...

飞亚达：拟现金收购陕西长空齿轮有限公司控股权 智通财经6月4日电，飞亚达(000026.SZ)公告称，公司与汉中汉航机电有限公司签署股权收购意向协 议，拟以现金方式收购陕西长空齿轮有限责任公司的全部或部分控股权。汉航机电为公司实际控制人中 国航空工业集团有限公司的控股子企业，本次交易构成关联交易。长空齿轮主营研发、设计、生产和销 售精密齿轮及相关产品，若本次收购顺利完成，有助于增强公司精密科技业务的技术实力和核心能力。 ...

Core Viewpoint - Fuda Co., Ltd. is investing in the new energy and robotics sectors, focusing on the development of precision gear systems for electric vehicles and robotic joint components [1][2][3] Group 1: Investment and Business Expansion - Fuda Co., Ltd. plans to invest in a new energy vehicle electric drive system precision gear project and a robotic joint component project in Pinghu Economic and Technological Development Zone, covering approximately 132 acres [2] - The company has established stable customer relationships in the new energy vehicle sector and has begun to expand into humanoid robotics [1][2] - To fund these initiatives, Fuda Co., Ltd. is selling a stake in a joint venture for 96 million yuan, with the first phase of transferring 25% of the equity already completed, bringing in 48 million yuan [1][3] Group 2: Financial Performance - In the first quarter of 2025, Fuda Co., Ltd. reported a 46.97% year-on-year increase in revenue to 471 million yuan, with net profit doubling to 65.1 million yuan [5] - The company's stock price has doubled in 2025, with a peak increase of over 157% during the year, reaching a high of 18.7 yuan per share [5] - For the year 2024, Fuda Co., Ltd. achieved a revenue of 1.648 billion yuan, a year-on-year growth of 21.83%, and a net profit of 185 million yuan, up 78.96% [5] Group 3: Market Position and Product Development - Fuda Co., Ltd. is a leading supplier of hybrid crankshafts for major automotive manufacturers, including BYD, Geely, and Great Wall [4] - The company has been actively expanding its presence in the new energy vehicle sector, achieving significant growth in its precision gear business [4][5] - The ongoing projects in the robotics field are expected to solidify the company's technological and product positioning, paving the way for commercial and scalable production [3]

Core Viewpoint - Fuda Co., Ltd. plans to invest in the construction of ultra-precision gear projects for electric drive systems in new energy vehicles and robotic joint components in Pinghu Economic and Technological Development Zone [1] Group 1 - The company has signed an investment agreement with the Pinghu Economic and Technological Development Zone Management Committee [1] - The planned land area for the projects is approximately 132 acres [1]

5月20日，江苏雷利（300660）举行业绩说明会，重点回应了公司在人形机器人领域的布局进展。 此前在5月16日，江苏雷利在新品发布会中展示了灵巧手产品。公司在业绩说明会上进一步表示，控股 子公司安徽中科灵犀科技有限公司依托中国科学技术大学的科研资源，在机器人的灵巧手等环节推进产 学研融合发展。在新品发布会中，中科灵犀展示了连杆式与绳驱式两种技术路线的灵巧手产品，分别实 现整手18/22个自由度及轻量化设计，实现自研多电机FOC控制与多传感器综合处理，"江苏雷利及旗下 公司在零部件生产等方面为其提供支持，为灵巧手产品量产及降本奠定基础。" 在谈及公司与蔚蓝科技合作进展的话题时，江苏雷利表示，蔚蓝科技是国内四足机器人代表性企业，江 苏雷利与蔚蓝科技自2024年建立合作关系，并于2025年进一步加深了股权及业务合作。江苏雷利将向蔚 蓝科技供应四足机器人关节执行器产品，双方将共同整合资源推进相关产品的研发迭代及量产降本，实 现更具竞争力的零部件及组件供应能力。 针对如何应对中美贸易摩擦，江苏雷利表示，2024年度美国市场收入约占公司总收入的18%。公司一方 面不断完善面向北美客户的海外产能建设，另一方面加大各个国家 ...

Investment Highlights - Fuda Co., Ltd. is a leading manufacturer of crankshafts in China, established in 1995 and listed in 2014, with product offerings including crankshafts, clutches, precision forgings, gears, and bolts [1] - The company is entering new growth avenues through its focus on the new energy sector and robotics, with expectations for significant revenue contributions from these areas in the future [1] Crankshaft Demand Growth - The demand for crankshafts is expected to rise due to the increasing sales of hybrid vehicles, which still require crankshafts despite the rise of pure electric vehicles [2] - By 2024, the penetration rate of hybrid vehicles in the new energy vehicle market is projected to reach 40%, revitalizing the passenger car crankshaft market [2] - Fuda has successfully transitioned its crankshaft business from commercial vehicles to passenger vehicles, with over 50% of its crankshaft supply for BYD in 2024 [2] - A new production line with a capacity of 1 million hybrid crankshafts is expected to be operational by May 2025, indicating further potential for revenue growth [2] Expansion in New Energy Gears - Fuda has invested 408 million yuan to establish a subsidiary focused on new energy electric drive precision gears, with production expected to start in July 2024 [3] - The company anticipates significant revenue growth from this segment between 2025 and 2026, with a full production capacity of 600,000 sets [3] - Fuda has secured multiple projects with major clients such as BYD and Geely, indicating strong market demand for its new energy gear products [3] Robotics Sector Development - Fuda is expanding into the robotics sector, having acquired a 35% stake in Changban Robot Technology in March 2024 and successfully developing a planetary reducer prototype by November 2024 [4] - The company aims to leverage synergies between its existing automotive clients and new robotics customers, enhancing its competitive position in the robotics market [4] - Fuda's technical expertise in precision gears and its existing manufacturing capabilities are expected to facilitate cost reductions and operational efficiencies in the robotics sector [4] Financial Projections - Revenue forecasts for Fuda are projected at 2.434 billion yuan in 2025, 3.019 billion yuan in 2026, and 3.394 billion yuan in 2027, with net profits expected to reach 301 million yuan, 385 million yuan, and 460 million yuan respectively [4] - The company is expected to achieve earnings per share (EPS) of 0.47 yuan, 0.60 yuan, and 0.71 yuan for the years 2025 to 2027, with corresponding price-to-earnings (PE) ratios of 38, 30, and 25 times [4]

Core Insights - The company, Bluetech Technology, reported a significant growth in its 2024 annual performance, with total revenue reaching 3.536 billion yuan, a year-on-year increase of 25.93% [3] - Operating profit for the year was 138 million yuan, reflecting a substantial growth of 135.59% compared to the previous year [3] - The net profit attributable to shareholders was 124 million yuan, marking a 134.04% increase year-on-year [3] Business Segments - The company’s dual main businesses, transmission and touch display, are developing in synergy, with the touch display sector showing signs of recovery and innovation in various applications [3] - In the touch display sector, the company is diversifying its product offerings by expanding into smart cockpit electronics, smart home devices, industrial touch terminals, and outdoor interactive terminals, optimizing its product structure [3] - The transmission business is focusing on the electric drive systems for new energy vehicles, achieving record production and sales in 2024 through continuous investment in technology innovation and market expansion [3] Strategic Initiatives - The company is actively developing automotive gear components for a domestic low-altitude economy-related manufacturer, responding to specific customer demands [3] - In the field of humanoid robotics, the company is collaborating with Wuxi Quanzhibo Technology Co., Ltd. to advance the research, production, testing, and assembly of integrated robotic joints and core components [4] - The company emphasizes its commitment to keeping pace with emerging trends in the intelligent era and will assess market conditions to strategically expand into new industries and business areas [4]