昊志机电 20260125 摘要 昊志机电预计 2026 年整体收入达 26 亿元，PCB 业务增长 3 亿元，直 线导轨业务因湖南新工厂投产增 1 亿元，转台业务受益于苹果双折叠屏 需求增 1 亿元，工业机器人及谐波减速器增 1.5 亿元，工业母机领域预 计增 10 亿元，净利润率保持在 13%-15%，净利润约 3 亿元，实现业 绩翻倍增长。 豪士机电 2025 年下半年采购超 1 亿元设备，预计 2026 年 2-3 月到位， PCB 端产能将从 3 亿元提升至 6 亿元。受益于 AI 投入和国内算力基础 建设，公司对未来两三年行业前景保持乐观，预计需求趋势不变。 由于 PCB 领域需求强劲，昊志机电已接到全年订单，并制定部分产品提 价政策，涨幅约为 5%-10%。全球范围内，具备批量快速交货能力的企 业数量有限，支撑了公司的提价策略。 昊志机电为苹果折叠屏提供转台，直接销售给博文光学、蓝思科技、科 维思、创世纪、秋峰智能等客户，而非通过代工厂，表明公司在产业链 中占据直接供应地位。 昊志机电在商业航天领域研发液体增压电机，预计 2026 年上半年交付， 单台价值约 300 万元。与客户合作开发伺服电机 ...

Core Insights - The company, Haoshi Electromechanical, reported a significant increase in revenue and profit for the first three quarters of 2025, with total revenue reaching 1,143.20 million yuan, a year-on-year growth of 18.10% [2] - The net profit attributable to the parent company was 121.58 million yuan, reflecting a substantial year-on-year increase of 50.40% [2] - The company's non-recurring net profit was 97.07 million yuan, showing a remarkable growth of 102.52% year-on-year [2] Revenue Breakdown - The spindle products, particularly those used in the chip sector, generated sales revenue of 758.00 million yuan, marking a year-on-year increase of 30.32% and accounting for 66.31% of the main business revenue [2] - Sales of PCB drilling machine spindles and PCB forming machine spindles saw significant growth, with PCB spindles alone achieving sales revenue of 169.13 million yuan, an impressive year-on-year increase of 83.99% [2]