（记者 张海妮） 每经AI快讯，有投资者在投资者互动平台提问：公司目前正在开发空心杯电机、无框力矩电机及配套 驱动系统零部件，并进行相关产线规划，在驱动器、光编、"小脑"控制等领域具备相关技术储备。 请 问目前有什么进展？是否有送样？有哪些合作伙伴？ 信捷电气（603416.SH）1月9日在投资者互动平台表示，公司在人形机器人领域进行了多个方面的开发 和布局。在核心零部件上，公司已经开发出空心杯电机和无框力矩电机，产品应用在旋转关节、直线关 节、灵巧手等。同时，根据客户的现场实际情况和参数表现，进行定制化的产品开发，从而满足客户对 于电机供应的高性能、多样化需求。在编码器产品上，公司具有深厚的技术积累和产品积累，并具备完 善的生产产线，能够为机器人提供品质优异的编码器产品，产品种类涵盖了电感式编码器、磁性编码 器、光学编码器。同时，储备了驱动器、更高性能光学编码器、机器人"小脑"控制等相关技术。目前， 公司已组建人形机器人研发软硬件团队和市场业务拓展团队，负责客户拓展和市场洞察等。 ...

证券日报网讯1月6日，昊志机电（300503）在互动平台回答投资者提问时表示，公司在机器人领域深耕 多年，拥有成熟的技术积累和产品经验，公司现在很多机器人零部件的核心指标全面超过国际一流产 品，成功实现领跑。以谐波减速器为例，公司生产的谐波减速器产品传动精度比国际主流产品提升近一 倍、振动幅度比国外产品降低30%以上，可满足医疗、芯片制造等高端场景对"零晃动"的严苛需求。目 前公司减速器、低压驱动器、力矩传感器、无框力矩电机、编码器已全部实现国产自研，部分产品可应 用于航天航空领域。截至目前，公司机器人核心功能部件的相关业务的销售收入较小，尚不会对公司业 绩产生重大影响，敬请广大投资者谨慎决策，注意投资风险。 ...

格隆汇1月6日丨昊志机电(300503.SZ)在互动平台表示，公司在机器人领域深耕多年，拥有成熟的技术 积累和产品经验，公司现在很多机器人零部件的核心指标全面超过国际一流产品，成功实现领跑。以谐 波减速器为例，公司生产的谐波减速器产品传动精度比国际主流产品提升近一倍、振动幅度比国外产品 降低30%以上，可满足医疗、芯片制造等高端场景对"零晃动"的严苛需求。目前公司减速器、低压驱动 器、力矩传感器、无框力矩电机、编码器已全部实现国产自研，部分产品可应用于航天航空领域。 截 至目前，公司机器人核心功能部件的相关业务的销售收入较小。 ...

值得一提的是，在公告中，昊志机电特别提示了多重风险。其表示，公司留意到近期市场对于机器人、商业航天的热点概念关注度颇高。现阶段，公司主 轴类产品为公司核心收入来源，与此同时，公司正在积极开拓机器人、商业航天领域的业务，截至2025年9月30日，公司在机器人、商业航天领域的业务 合计占主营业务收入约1%。请投资者谨慎决策，注意投资风险。 在12月25日斩获"20cm"涨停的基础上，昊志机电（300503）12月26日再度大涨7.6%，最新报收46.72元/股。把时间拉长，近三个交易日，昊志机电累计涨 幅超过30%，总市值涨至144亿元。 在股价接连大涨的背景下，12月26日晚间，昊志机电发布股票交易异常波动公告称，公司未发现近期公共传媒报道了可能或已经对公司股票交易价格产生 较大影响的未公开重大信息。此外，公司目前经营情况正常，内外部经营环境未发生重大变化。经核查，公司、控股股东及实际控制人不存在关于公司的 应披露而未披露的重大事项，或处于筹划阶段的重大事项等。 值得一提的是，近期，昊志机电吸引了多家机构投资者前来调研，其中公司机器人业务是投资者关注的重点。 11月27日，昊志机电发布公告称，目前公司机器人业务 ...

Industry Overview - The humanoid robot industry is accelerating mass production by 2025, with companies like Zhiyuan achieving deliveries in the thousands and a significant increase in the localization rate of core components [1] - Continuous support from domestic and international policies is driving both market enthusiasm and the commercialization process [1] - The industry trend is expected to provide dual drivers for performance and valuation in the sector, according to a report from CITIC Securities [1] Market Performance - Siling Co., Ltd. has seen a maximum stock price increase of 329% year-to-date, while Haoshi Electromechanical has experienced a 134% increase [1] Component Cost Analysis - In the humanoid robot supply chain, the cost breakdown for various components includes: - Actuators: 1% cost share, with companies like Sanhua Intelligent Control and Top Group involved [2][3] - Frameless torque motors: 4% cost share, with companies such as Buke Co., Haoshi Electromechanical, and Leisai Intelligent [2][3] - Harmonic reducers: 5% cost share, with companies like Green Harmonic, Hanyu Group, Siling Co., and Fengli Intelligent [2][3] - Encoders: 2.7% cost share, with companies including Inovance Technology and Aopu Optoelectronics [2][3] - Bearings: 1.2% cost share, with companies like Lixing Co., Southern Precision, and Guoji Precision [2][3] Company Highlights - Haoshi Electromechanical is focusing on building a second growth curve through its robotics business, which includes a robust "N+1+3" business system [4] - The company has achieved significant improvements in transmission precision and reduced noise levels in its products, positioning itself competitively in the market [4] - Buke Co. is recognized as a domestic leader in frameless torque motors, with projected sales of approximately 24,000 units in 2024 [5] - Siling Co. is a leading domestic company in harmonic reducers, with a focus on applications in industrial and humanoid robots [5] - Green Harmonic holds a 26% market share in the domestic harmonic reducer market, with robot-related revenue constituting over 80% of its total income [6]

Group 1: Company Overview and Product Lines - The company specializes in the R&D, manufacturing, sales, and maintenance of mid-to-high-end CNC machine tools, robots, and core components for new energy vehicles, recognized as a national high-tech enterprise [2][3] - Product offerings include CNC machine tool components such as spindles, rotary tables, linear motors, CNC systems, and encoders; robot components like harmonic reducers, DD motors, low-voltage servo drives, and torque sensors; and new energy vehicle components such as hydrogen fuel cell compressors [2][3] Group 2: Financial Performance - As of Q3 2025, spindle product sales reached 758 million CNY, a year-on-year increase of 30.32%, accounting for 66.31% of the main business revenue [2][3] - Sales revenue for functional components like rotary tables and reducers was 168.34 million CNY, up 15.69% year-on-year, representing 14.73% of total revenue [4] Group 3: Strategic Initiatives and Investments - The company has initiated a phased equipment procurement plan to enhance delivery capabilities and support future growth due to a significant increase in orders [3] - A joint venture, Hunan Haozhi Transmission Machinery Co., Ltd., was established to focus on linear guides and related components, with an investment of 232.26 million CNY [3][6] Group 4: Robotics and Technology Development - The company has developed a "N+1+3" structure in the robotics sector, focusing on core components and applications in various business scenarios [3] - Significant breakthroughs in harmonic reducer technology have been achieved, with precision improved by 66.7% and vibration control enhanced by 60% compared to international standards [5] Group 5: Market Expansion and Sales Strategy - The company actively participates in professional exhibitions and utilizes proactive marketing to enhance brand influence and attract customers [10] - The acquisition of Infranor Group has facilitated significant synergies in product technology and sales, expanding the company's international market presence [8][9] Group 6: Risks and Cautions - The core functional components of the robotics business currently have low sales revenue and are not expected to significantly impact overall performance [5] - Investors are advised to exercise caution regarding investment risks associated with the company's operations and market conditions [5]

Core Viewpoint - The company has reported a significant increase in sales revenue from its robotic components, driven by industry growth and enhanced product competitiveness, although the overall impact on total performance remains small [2]. Group 1: Company Performance - The company achieved sales revenue of 168.34 million yuan from its rotary tables, reducers, and linear motors by Q3 2025, marking a year-on-year growth of 15.69% [2]. - The revenue from robotic business components accounted for 14.73% of total operating income [2]. - The growth in the robotic business is attributed to accelerated industry development, sustained demand from downstream markets, and improvements in product quality and performance [2]. Group 2: Product Development and Market Position - The company has successfully iterated its products in the second half of the year, leading to significant enhancements in quality and performance [2]. - The increase in market competitiveness has resulted in a substantial rise in order volume, with products being delivered as planned [2]. - Despite the growth in the robotic segment, the sales scale remains small and has a limited impact on the overall performance of the company [2].

Core Insights - The company, Haozhi Electromechanical, reported that its products, including harmonic reducers, frameless torque motors, and encoders, are applicable in humanoid robots [2] - By the third quarter of 2025, the company achieved sales revenue of 168.34 million yuan from components like turntables, reducers, and linear motors, marking a year-on-year growth of 15.69%, which constitutes 14.73% of total revenue [2] - The growth in the robotics business is primarily driven by accelerated industry development, sustained demand from downstream markets, and enhanced competitiveness of the company's products [2] - The company has seen significant improvements in product quality and performance due to product iterations in the second half of the year, leading to a substantial increase in order volume [2] - Despite the growth in the robotics segment, its sales scale remains small and has a limited impact on the overall performance of the company [2]

Group 1 - The Robot ETF (562500) experienced a slight decline of 0.11% but showed strong resilience during intraday trading, currently stabilizing around 0.943 yuan [1] - Within the ETF's holdings, there was a divergence in performance, with Oat Technology leading with over a 4% increase, and Weichuang Electric rising over 4.4%, while companies like Jingpin Special Equipment and Hongying Intelligent were under adjustment [1] - The trading volume exceeded 6.71 billion yuan, indicating sustained active trading [1] Group 2 - Haoshi Electromechanical stated that its products, including harmonic reducers and frameless torque motors, are applicable to humanoid robots, with sales revenue from these components reaching 168.34 million yuan, a year-on-year increase of 15.69%, accounting for 14.73% of total revenue [1] - The growth in the robotics business is attributed to accelerated industry development, continuous demand from downstream markets, and enhanced product competitiveness, alongside significant improvements in product quality and performance [1] - The completion of the IPO guidance for Yushu is expected to accelerate the capitalization process of domestic robot manufacturers, with a focus on companies that possess both brain and hardware iteration capabilities [2]

Group 1 - The company has invested in a robotics joint venture through its fund, focusing on core components for various types of robots, including humanoid robots [2] - The investment was made via the Chuangdong Houze Fund, indicating the company's strategic interest in the robotics sector [2] Group 2 - The robotics joint venture specializes in providing joints and encoders, which are essential parts for robotic systems [2] - This investment reflects the growing trend and potential in the humanoid robotics market [2]