Investment Rating - The investment rating for the company is "Buy" and is maintained [9] Core Insights - On June 26, 2025, the company held a robot strategy launch event, showcasing its "trinity" strategic layout in the robotics industry, four core advantages, assembly lines, product matrix, and the latest achievements in the development of robot application scenarios [2][6] - The company is a leading global supplier of AI terminal hardware, focusing on providing comprehensive intelligent manufacturing services and solutions to global customers. The launch event signifies the company's further focus on cutting-edge fields such as "human-eye-folding" to build comprehensive product solution capabilities in the future AI terminal market [2][6] Summary by Relevant Sections Company Overview - The company is positioned as a global leader in AI terminal hardware, emphasizing the integration of applications, solutions, and services in the context of vertical integration in the future AI terminal market [12] Robotics Strategy - The company defines its robotics business as "trinity" intelligence, focusing on core component and assembly design, comprehensive hardware services, and complete industrial application scenario development. The company has accumulated relevant technology since 2009 and has established a full-chain system for precision components, core modules, joint assemblies, complete machine assembly, and performance testing [12] Financial Projections - The projected net profits for the company from 2025 to 2027 are estimated to be 2.437 billion, 2.947 billion, and 3.987 billion respectively [12]

Core Viewpoint - The company has officially launched its "trinity" strategy in the robotics industry, marking a strategic shift from precision manufacturing in consumer electronics to hardware in robotics, aiming to become a top 3 global manufacturer of embodied intelligent hardware [1][2][17]. Group 1: Strategic Layout and Advantages - The "trinity" strategy focuses on three main areas: core component and assembly design, comprehensive hardware services, and complete industrial application scenario development [2][3]. - The company has established a strategic moat through four unique advantages: comprehensive process technology, deep automation accumulation, rich application scenarios, and leading global layout [2][3]. - Plans include building a global, all-process super factory for core components, aiming for over 50% cost reduction through a comprehensive "slimming center" approach [2][5]. Group 2: Application Scenarios and Product Development - The company showcased its latest achievements in embodied intelligence application development, with robots covering industrial, commercial, and service scenarios [7]. - Notable robots include the humanoid robot "Walker" with over 40 degrees of freedom, the industrial heavy-duty "Rock" robot with a payload of 10kg, and the precision manufacturing expert "Linglong" with a positioning accuracy of 0.03mm [8][9][10]. - The company has signed a strategic cooperation agreement with the Beijing Humanoid Robot Innovation Center to provide hardware services and support the development of humanoid robots [12]. Group 3: Ecosystem Collaboration and Future Plans - The company has formed strategic partnerships with leading embodied intelligence firms to accelerate the commercialization of humanoid robots [15]. - A new company, Dongguan Lingzhi Innovation Robot Technology Co., Ltd., has been established to focus on intelligent robot development and sales, with a registered capital of 20 million yuan [15]. - The company plans to build hundreds of automated assembly lines in the future, aiming for a market potential of trillions in the humanoid robot industry [16][17].