沟通传递价值 信心共筑未来——2025年上海辖区上市公司集体接待日暨中报业绩说明会9月19日在全景 网举行。超捷股份（301005）董事会秘书、财务总监李红涛介绍，在人形机器人业务领域，公司可以提 供多种紧固件、PEEK材质产品、传感器基座及高精密机加工产品。目前已取得部分客户小批量正式订 单及取得部分客户项目定点，同时还有给客户打样，上述项目涉及终端客户包括国内外客户。公司将持 续拓展客户，抓住行业发展机会。 超捷股份长期致力于高强度精密紧固件、异形连接件等产品的研发、生产与销售，产品主要应用于汽车 发动机涡轮增压系统，换档驻车控制系统，汽车排气系统，汽车座椅、车灯与后视镜等内外饰系统的汽 车关键零部件的连接、紧固。此外，公司的紧固件产品还应用于电子电器、通信等行业。（全景网） 更多详情，请点击：https://rs.p5w.net/html/175611728073329.shtml ...

Group 1 - The company conducted a specific object research meeting with 17 institutions, focusing on its core business areas [1] - The automotive business is centered on high-strength precision fasteners, with increased value in electric vehicles compared to traditional fuel vehicles due to new electronic control and drive components [2] - The commercial aerospace business involves manufacturing structures for commercial rockets, with a production capacity of 10 units per year and significant order backlog [2] Group 2 - The competitive landscape in the automotive fastener sector shows low entry barriers but strict supplier qualification, with market share concentrating among leading companies [2] - The company has completed its production capacity layout for automotive business, anticipating stable growth from domestic projects and overseas exports [2] - Performance in 2023 was impacted by a slowdown in the automotive industry and rising material costs, but profitability is expected from the Wuxi factory in 2024 [2]

Group 1: Automotive Business Overview - The company focuses on the development, production, and sales of high-strength precision fasteners and special connectors, primarily used in automotive key components such as turbocharging systems and exhaust systems [2] - In the field of new energy vehicles, the company's fasteners are applied to battery trays, chassis, and electric control inverters, among others [2] Group 2: Commercial Aerospace Business - The company has completed production line construction for commercial rocket structural components, with major clients including Blue Arrow Aerospace and Tianbing Technology [2] - The company has delivered products such as fairings and shell segments in bulk to customers [2] Group 3: Fastener Product Value in New Energy Vehicles - The value of fasteners in new energy vehicles is expected to increase due to the addition of components like electric control and battery systems, despite a reduction in turbocharger-related fasteners [3] - The domestic demand for high-end fasteners is rising due to the emergence of local OEMs [3] Group 4: Competitive Landscape - The automotive fastener industry has a low entry barrier, with many small to medium-sized enterprises; however, only large manufacturers can pass the qualification audits of major OEMs [3] - The market share is increasingly concentrating among leading companies [3] Group 5: Company Advantages - The company maintains competitive advantages through quality customer resources, technical expertise, quality control, stable production capacity, and better customer service [3] - The combination of metal and plastic components aligns with automotive lightweighting demands [3] Group 6: Production Capacity and Future Growth - The company has completed its automotive parts production capacity layout across multiple bases, meeting future demand for the next three to five years [3] - Future growth will be driven by expanding exports, developing new customers, and increasing product categories [3] Group 7: Profit Margin Trends - The company's gross margin has declined due to factors such as slowing industry growth, rising material costs, and increased depreciation from new projects [4] - The Wuxi project is expected to achieve profitability in 2024, which will help restore margins [4] Group 8: Expansion into New Markets - The company is exploring opportunities in humanoid robotics and has received small batch orders for fasteners and precision machining products [5] - In the commercial aerospace sector, the company has secured bulk orders from several leading domestic clients [5] Group 9: Commercial Rocket Product Value - The structural components of a commercial rocket account for approximately 25% of the total cost, with the company's products valued at around 10 million for current offerings [5] - Future production of fuel storage tanks could increase the value of structural components to between 25 million and 30 million [5] Group 10: Flying Car Sector - The company is expanding its fastener products for the flying car sector, although this business currently has a low revenue impact [7]

Group 1 - The company reported a revenue of 391 million yuan in the first half of 2025, representing a year-on-year growth of 36.8% [1] - The net profit attributable to shareholders was 21.73 million yuan, showing a year-on-year increase of 21.86% [1] - The company focuses on high-strength precision fasteners and special connectors, primarily used in automotive applications, including turbocharging systems and battery trays for electric vehicles [1] Group 2 - The company has a subsidiary, Chengdu Xinyue, which specializes in manufacturing precision core components for the aerospace sector, including parts for military and civilian aircraft [2] - In the commercial aerospace sector, the company is involved in the production of rocket body structures and has established partnerships with leading private rocket manufacturers [2] - The company has completed the construction of a riveting production line with an annual capacity of 10 rockets, which can produce various aerospace components [2]

Group 1 - The core viewpoint of the news is that Yuqi Investment has conducted research on a listed company, Chaojie Co., which specializes in high-strength precision fasteners and irregular connectors, with applications in automotive, new energy vehicles, and commercial aerospace sectors [1] - Chaojie Co. has achieved growth in its automotive business by expanding overseas markets, developing new customers, and broadening product categories, benefiting from quality customer resources and technological accumulation [1] - The company has experienced a decline in gross margin in recent years due to factors such as the slowdown in the automotive industry and rising prices of bulk materials [1] - The commercial aerospace business of Chaojie Co. is progressing well, having completed production line construction and delivered products in bulk, with plans for further capacity expansion [1] - The humanoid robot business has received small batch orders from some customers but has not yet achieved large-scale production [1] - Chaojie Co. is focusing on the development of reusable rocket technology and is simultaneously laying out related business [1]

Group 1: Automotive Business Overview - The company focuses on high-strength precision fasteners and special connectors, primarily used in automotive engine turbocharging systems, shifting control systems, exhaust systems, and key components in electric vehicles [2] - The automotive business revenue has been growing year-on-year, driven by factors such as new customer development and product category expansion [3][4] Group 2: Commercial Aerospace Business Progress - The company has completed production line construction for commercial rocket structural components in 2024, with major clients including Blue Arrow Aerospace and Tianbing Technology [3] - The annual production capacity for commercial aerospace is estimated at 10 rockets, with a high utilization rate of existing capacity [4] Group 3: Human-shaped Robot Business Development - The company is actively developing humanoid robot components, having received small batch orders from several clients, although large-scale orders are not yet realized [3] Group 4: Financial Performance and Challenges - The company's gross margin has declined due to factors such as the slowdown in the automotive industry and rising material costs since late 2021 [4] - The new Wuxi Chaojie project has started production in 2023, with expectations for profitability in 2024 [4] Group 5: Future Prospects in Commercial Aerospace - The estimated value of structural components for a single commercial rocket is around 15 million, with potential increases to 25-30 million after the completion of the fuel tank production line [4] - The company is preparing for the future trend of reusable rockets, although current domestic technology is not yet mature [4]

Group 1: Commercial Aerospace Business - The company has made significant progress in the commercial aerospace sector, focusing on manufacturing rocket structural components, including major segments like shell segments, fairings, fuel tanks, and engine valves [2] - The production capacity for commercial aerospace is set at 10 rockets per year, with a high utilization rate and sufficient orders on hand [2] - The estimated value of structural components for a single commercial rocket is approximately $15 million, which could increase to $25-30 million after the completion of the fuel tank production line [3] Group 2: Competitive Advantages - The company possesses a talent advantage with a dedicated team experienced in the commercial aerospace field [3] - Financial strength allows the company to invest in equipment and production line construction based on market conditions [3] Group 3: Automotive Business Overview - The company specializes in high-strength precision fasteners and irregular connectors, primarily used in automotive engine turbocharging systems and other critical components [3] - Future growth points in the automotive sector include expanding exports and developing new customers, such as NIO and BYD [4] Group 4: Plastic Parts and Robotics - The rapid growth in the plastic parts business is attributed to the expansion into the automotive sector and the demand for lightweight materials [4] - The humanoid robotics business is a key direction, with initial small batch orders received, although large-scale orders are not yet achieved [4]

Report Summary 1. Reported Industry Investment Rating - No investment rating information is provided in the report. 2. Core Views of the Report - The report focuses on the business situation of Chaojie Co., Ltd., including its automotive, humanoid robot, and commercial space businesses, and analyzes the company's development potential and advantages in these fields [21]. 3. Summary by Relevant Catalog 3.1. Research Basic Situation - The research object is Chaojie Co., Ltd., belonging to the automotive parts industry. The reception time was July 7, 2025, and the company's board secretary and CFO, Li Hongtao, received the visitors [17]. 3.2. Detailed Research Institutions - The institutions participating in the research include fund management company Fuguo Fund (represented by Dong Zhiguo) and securities company Minsheng Securities (represented by Cui Ruoyu) [18]. 3.3. Research Institution Proportion - No information on the proportion of research institutions is provided in the report. 3.4. Main Content Data - **Automotive Business**: The company is long - term committed to the R & D, production, and sales of high - strength precision fasteners and special - shaped connectors. Products are mainly used in key automotive parts and also in new energy vehicle modules, as well as in industries such as electronics and communications. Future growth points include overseas market expansion and domestic new customer development, product category expansion, industry concentration increase, and domestic substitution [21]. - **Humanoid Robot Business**: It is an important business direction. The company can provide various products and has received small - batch formal orders from some customers and is also making samples for others. However, due to the non - large - scale industrialization stage, large - batch orders have not been obtained [21][22]. - **Commercial Space Business**: The company is engaged in the manufacturing of commercial rocket structural parts, including large - scale sections, fairings, fuel tanks, and engine valves. It completed production line construction in 2024, has major customers, and has been delivering products in batches. It will build a fuel tank production line in the second half of the year. The value of structural parts per rocket is estimated to be about 15 million yuan currently and 25 - 30 million yuan after the fuel tank production line is completed. The company has talent and capital advantages in this field and will also layout for the development of recyclable rockets [23].

Group 1: Automotive Business Overview - The company focuses on high-strength precision fasteners and special connectors, primarily used in automotive engine turbocharging systems, transmission control systems, exhaust systems, and key components in electric vehicles [2] - Future growth points in the automotive sector include expanding exports, developing new customers like NIO and BYD, increasing product categories, and enhancing domestic market share through localization [2] Group 2: Humanoid Robot Business Progress - The humanoid robot segment is a key business direction, with initial small batch orders received, although large-scale orders are not yet achieved due to the industry's nascent stage [3] Group 3: Commercial Aerospace Business Development - The commercial aerospace sector involves manufacturing structural components for rockets, with significant clients including Blue Arrow Aerospace and Tianbing Technology [3] - The estimated value of structural components for a mainstream commercial rocket is around 15 million, with potential increases to 25-30 million after establishing a fuel tank production line [3] Group 4: Competitive Advantages in Aerospace - The company possesses a specialized team with extensive experience in commercial aerospace, alongside financial advantages for equipment purchases and production line construction [3] Group 5: Future of Reusable Rockets - Current domestic technology for reusable rockets is not mature, but the company plans to adapt to future trends in the market, focusing on profitability in the commercial aerospace sector [3] Group 6: Investor Communication - The company ensured transparent communication with investors, adhering to information disclosure regulations to maintain accuracy and timeliness [4]

Core Viewpoint - The stock price of Chaojie Co., Ltd. (301005) has significantly declined following the announcement of a planned share reduction by major shareholders, including the son of the chairman, which may indicate concerns about the company's future performance and valuation [1][3][4]. Group 1: Shareholder Actions - Three shareholders, including Song Yibo, the son of Chairman Song Guandong, plan to collectively reduce their holdings by up to 3.73% of the company's shares, corresponding to a market value of approximately 194 million yuan based on the closing price [1][3]. - Song Yibo intends to reduce his stake by up to 2.38% within three months after the announcement, which would represent a near-total liquidation of his holdings, valued at about 124 million yuan [3]. - The other two shareholders, Taizhou Yuwei Investment Co., Ltd. and Taizhou Wenchao Investment Co., Ltd., plan to reduce their stakes by up to 0.85% and 0.5%, respectively [3]. Group 2: Stock Performance - Chaojie Co., Ltd. experienced a significant stock price increase of 82.28% from April 9 to June 6, 2023, before facing a sharp decline [3]. - The stock reached an all-time high of 48.48 yuan per share on June 10, 2023, but subsequently fell by 9.38% on the same day and continued to decline by 4.93% the following day [3]. Group 3: Financial Performance - Since its listing in June 2021, Chaojie Co., Ltd. has seen a continuous decline in annual net profits, with revenues increasing from approximately 394 million yuan in 2021 to 630 million yuan in 2024, while net profits dropped from about 75.86 million yuan to 10.62 million yuan in the same period [5]. - In the first quarter of 2025, the company reported revenues of approximately 189 million yuan, a year-on-year increase of 38.36%, and a net profit of about 15.99 million yuan, up 27.18% year-on-year [6]. - The company's debt-to-asset ratio has been rising annually, increasing from 12.08% in 2021 to 37.43% in 2024 [6].