Core Viewpoint - The company reported a strong financial performance in the first half of 2025, with significant year-on-year growth in both revenue and net profit, indicating robust operational capabilities and market demand [3]. Financial Performance Summary - In the first half of 2025, the company achieved revenue of 6.645 billion yuan, a year-on-year increase of 22.01%, and a net profit attributable to shareholders of 769 million yuan, up 18.72% year-on-year [3]. - In Q2 2025, the company recorded revenue of 3.623 billion yuan, reflecting a year-on-year growth of 23.34% and a quarter-on-quarter increase of 19.90%. The net profit for Q2 was 382 million yuan, which is a year-on-year increase of 12.54% but a quarter-on-quarter decline of 1.36% [3]. Profitability Analysis - The company's Q2 2025 gross margin was 23.43%, showing a year-on-year decline of 0.39 percentage points but a quarter-on-quarter increase of 1.23 percentage points. The net profit margin was 10.47%, down 1.04 percentage points year-on-year and 2.3 percentage points quarter-on-quarter, primarily due to credit impairment provisions [4]. - After adjusting for credit and asset impairments, the company's net profit attributable to shareholders was 431 million yuan, with an adjusted net profit margin of 11.90%, indicating stable profitability [4]. Product Development and Market Expansion - The company is positioning itself as a platform company for robot components, leveraging its precision processing and large-scale manufacturing capabilities. Its humanoid robot subsidiary, Kemon, focuses on gear reducers and joint modules [5]. - The core product, the reducer, has entered testing phases with several high-quality domestic and international clients. The company has developed a lightweight aluminum-steel product that balances weight and torque [5]. - The joint assembly is in the technology development stage, with samples sent for performance optimization in collaboration with clients [5]. - The establishment of a joint venture, Yizhi Lingqiao, aims to promote the industrialization of dexterous hands, enhancing the application scenarios for robotics [5].

Core Viewpoint - The company Keda Li (002850) has announced the successful completion of testing for its self-developed cycloidal reducer and is currently collaborating with clients for optimization and in-depth development [1] Group 1: Product Development - The company has developed a new aluminum-steel lightweight product that balances lightweight design and torque, further solidifying its technological advantage in the core transmission field [1] Group 2: Market Position - The advancements in the reducer materials domain have allowed the company to innovate and enhance its competitive position within the industry [1]

Core Viewpoint - The company has successfully developed a cycloidal reducer and is currently optimizing solutions in collaboration with clients, reinforcing its technological advantage in the core transmission field [1] Group 1 - The company has completed testing and sample delivery for its self-developed cycloidal reducer [1] - The company is working with clients on solution optimization and in-depth development [1] - The company has innovatively developed a new lightweight aluminum-steel product that balances lightweight design and torque [1]

Core Viewpoint - The company Keda Li (002850.SZ) has successfully completed testing of its self-developed cycloidal reducer and is currently collaborating with clients for optimization and further development [1] Group 1 - The cycloidal reducer has undergone relevant testing and samples have been sent out [1] - The company is leveraging its previous experience in reducer materials to innovate a new lightweight product that balances weight and torque [1] - This innovation strengthens the company's technological advantage in the core transmission field [1]