机器人产品布局完善，商业化可期 公司以"汽车+机器人Tier1"的全新定位，积极打造第二增长曲线，自25年4月成立全资子公司均胜具身 智能机器人以来，目前已形成包括AI头部总成、胸腔与底盘总成、能源管理方案、传感器套件等在内 的完善产品矩阵，核心客户包括海外机器人头部企业、智元机器人、银河通用等。 与斯年智驾达成战略合作 公司与斯年智驾达成战略合作，共同拓展L4商业应用及具身智能技术。此前，双方联合开发的基 于"V2X+L4智驾+智能云调度"的智慧港口数字化管理平台，已在宁波港投用并稳定运行。 智通财经APP获悉，东北证券发布研报称，给予均胜电子(00699)"增持"评级，2025年前三季度营收稳健 增长，盈利能力持续修复，毛利率显著提升。公司在汽车安全与电子业务新订单增长迅猛，智能驾驶业 务近期获大额定点。同时，公司积极布局机器人产品线，并已与斯年智驾达成战略合作，共同拓展L4 及具身智能技术的商业应用。 东北证券主要观点如下： 营收稳健增长，盈利能力持续修复 收入端，前三季度公司实现营收458.44亿元，同比+11.45%，其中25Q3实现营收154.97亿元，同比 +10.25%;利润端，前三季度公司实 ...

Group 1: Industry Insights - The introduction of humanoid robots in commercial concerts marks a shift from "technology showcase" to "normalized tool" in performance settings, indicating a growing integration of robotics in public events [1] - IDC predicts that the shipment volume of commercial humanoid robots in China will reach approximately 5,000 units by 2025, increasing to nearly 60,000 units by 2030, with a compound annual growth rate exceeding 95% [1] Group 2: Company Developments - Junsheng Electronics has established a comprehensive layout for key components in robotics, advancing into the automotive and Tier 1 robotics sectors, with plans to release various robotic solutions by 2025 [2] - Mould Technology has signed a framework agreement for parts procurement with a domestic robotics company and has received a small batch order for humanoid robot outer covers, marking its official entry into the humanoid robotics industry [2]