Core Insights - Lixun Precision (002475.SZ) disclosed its latest developments in the humanoid robot sector, expecting to ship 3,000 units this year, all directed towards external clients [1] - The company is currently in the first generation of its humanoid robot production line, with plans to launch a "Manufacturing 2.0" line by early 2026, featuring high flexibility and automation [1] - Lixun's management believes that China's humanoid robot development surpasses that of North America, with significant advancements in motion control and capabilities [2] - The company aims to become one of the top five global Tier 1 automotive suppliers within the next 5 to 10 years, leveraging both organic growth and acquisitions [3] Humanoid Robot Development - The company plans to deliver 3,000 humanoid robots this year, with all units belonging to external clients [1] - Lixun has developed a "tendon-driven dexterous hand" that approaches industry-leading levels of freedom [1] - The production line is currently semi-automated, with a fully automated line expected by 2026 [1] Technological Advancements - Lixun has established core capabilities across the entire humanoid robot industry chain, with most key components being self-manufactured [1] - The company has completed a full-stack layout in optical connections, power supply, and cooling technologies [3] Automotive Sector Goals - Lixun aims to become a top five global Tier 1 automotive supplier through internal growth and strategic acquisitions, such as the recent acquisition of Leoni [3]

在AI算力领域，针对市场热议的"光进铜退"技术路线，立讯精密数据中心业务负责人熊藤芳进行了回 应。其认为，现在讨论"光进铜退"为时过早，在下一代448G速率下，铜连接仍将是主流。 熊藤芳透露，立讯技术团队已在OIF和OCP展示了基于PAM4技术的448G CPC铜连接方案，这可能改变 业界此前认为铜连接无法支撑该速率的认知。熊藤芳同时指出，公司在光连接、电源及散热（含液冷/ 金刚石铜技术）领域均已完成全栈布局。 在汽车业务方面，立讯精密汽车业务负责人李晶表示，通过内生增长与外延并购（如近期对莱尼Leoni 的收购），公司目标在未来5到10年内成为全球前五大汽车Tier 1供应商。 采写：南都湾财社记者 严兆鑫 田玉铭介绍，目前立讯精密的人形机器人产线尚处于第一代"半自动化手工线"阶段。他透露，公司计划 于2025年初推出"制造2.0"产线，该产线将具备高度柔性、自适应与高自动化特性，实现从零件到整机 组装的完整生产能力。 在技术储备方面，田玉铭表示公司已具备人形机器人全产业链核心能力。除了电池与部分关节模组外， 谐波齿轮等关键部件均可自主完成精加工。值得注意的是，公司自主研发的"腱绳式灵巧手"，在自由度 上仅 ...

Core Insights - The company, Luxshare Precision (002475.SZ), conducted an investor relations activity from November 20 to 26, 2025, in Dongguan, Guangdong, attracting over 200 renowned domestic and international institutions, including Goldman Sachs and BlackRock [1] Business Strategy and Development - The company emphasizes cross-domain collaboration and long-termism as key traits for its success in new markets, particularly in automotive and AI computing sectors, aiming to be among the top three in each field within five years [2] - The automotive segment has established four product lines: connectors, wiring harnesses, domain controllers, and intelligent chassis, with a goal to become the largest automotive connector manufacturer in China by 2027 [5] Consumer Electronics - The company is leveraging both OEM and ODM strategies to shorten product development cycles and enhance manufacturing processes, with a focus on AI hardware such as AI Boxes and smart glasses [3] Data Center Business - The data center segment is experiencing growth driven by advancements in power supply and cooling technologies, with the 448G CPC copper connection technology expected to become mainstream [4] AI and Robotics - The company is enhancing manufacturing efficiency through an "AI smart employee" system and plans to launch a highly automated "Manufacturing 2.0" production line by 2026, with a focus on industrial applications [6] Growth Expectations - The management anticipates significant growth across power modules, optical modules, electrical connections, and cooling solutions, with power modules expected to see the fastest growth [8] Technical Strategy - The company maintains that copper connection technology will coexist with optical technology, emphasizing the continued relevance of 448G copper connections in the market [9] Profit Structure in Automotive Business - The wiring harness segment provides stable cash flow, while domain controllers and intelligent chassis are expected to become major growth drivers post-2026 [10] Overseas Expansion - Vietnam remains the preferred location for capacity transfer, but the company is diversifying its production footprint in Southeast Asia to mitigate geopolitical risks [11]