人形机器人后续行情如何布局
2025-04-15 14:30
大家好 欢迎参加中泰机械人形机器人后续行情如何布局 目前所有参会者正处于静音状态 下面开始播报名和声明声明播报完毕后 主讲人可直接发言粉丝电话会议服务于中泰证券正式签约客户为 好的 尊敬的各位投资者大家早上好我是中泰机械的王可今天由我来为大家汇报一下我们团队关于人形机器人的最新的观点那么首先的第一个想跟大家汇报的问题就是很多投资者最近问我们的就是这个人形机器人的板块的行情出现了一定的波动站在这个位置上怎么往后去看的一个问题我们想从一个方面去回答就是对2024年的一个行情的整体的复盘 我们把2024年人形机器人的指数的行情做了一个复盘其中的一个很重要的结论就是当人形机器人板块上涨的原因它有多样化的包括像特斯拉的审查包括像we robot的发布会包括像华为语数的一系列的这种催化剂但是我们发现2024年板块如果出现了趋势性回调的所谓的趋势性回调就至少 有一定持续性比如至少持续一两个月的这种回调的幅度有一定有一定的深度的这种趋势性的回调下跌的原因只有一个那就是关于人型机器人量产的节奏和量产的数量级的市场一致预期下调了这个话可能有一点点绕就是讲得通俗易懂一点就是比如说年初这一波可能当时大家认为人型机器人量产就是24年结 ...
万辰集团20250304
2025-04-15 14:30
Company and Industry Summary Company Overview - The company has announced that it is not required to assist in any investigations, indicating a stable operational status and robust internal controls and governance structures [1] - The company emphasizes that its operations, including both temporary and practical military businesses, are functioning normally and will not be significantly impacted by recent events [1] Core Business Insights - The company is focused on refining its operational capabilities across various business segments, aiming for steady and high-quality growth while expanding its market presence [2] - In 2025, the company plans to maintain a steady growth pace while continuing to expand, with a focus on consumer demand and optimizing store models to enhance shopping experiences [2] - Recent trials of new store formats and models have been conducted to improve operational efficiency and customer engagement [2] Consumer Engagement and Market Strategy - The company highlights the importance of high-frequency consumer goods in driving foot traffic and enhancing customer loyalty, which in turn boosts sales performance [3] - The company is committed to creating a unique shopping experience that positions it as an essential retail infrastructure within the market [3] Additional Considerations - The management encourages stakeholders to pay attention to industry changes and the company's ongoing business development efforts, reinforcing its commitment to delivering strong performance for shareholders [3]
天准科技20250304
2025-04-15 14:30
好的各位投资人各位飞机师大家早上好主持人现在能听到吗可以听到的杨总 好的这次那个新鲜融资呢是放我们是第二次第二次融资啊这个我们在23年23年的时候那个年中吧我们做了一轮啊做了一个多月一个一个融资呃这一次呢大概融资金额是两个亿左右两个亿左右呃方向的话还是呃一方面就是说我们嗯40纳米65纳米开始进入量产阶段啊开始呃呃做相关的一些准备工作呃为未来这个量产做一个呃准备的一个准备吧 大家都知道现在因为简词不是说想发就能发的所以我们这个事情其实是提前做了一个申请昨天突然接到通知突然接到通知我们才临时把这封公告才发出来了然后实际上这个简词的一个具体情况公告也说明了就是我们这个所属企业的持空平台这边有五个人这次简词是三个高管三个高管我们的那个持空人徐总徐总是个简词的 然后那个徐伟的个人也是不剪辞的因为上一次我们在去年年底十一月底十一月底的时候我们做了一个所以这次就是剩下的这个除了石峰人以外还剩三位包括我们的一个稳高的一个剪辞石峰人还是这个金银行公司暂时没有这样的一个剪辞的一个需求这个剪辞的一个具体的用途呢主要还是说 一方面大家我们看到最近我们发了一个转赛的预案那也因为有这么一个事情我们这个老多普通有这么一个机会也是想这个我们 ...
人形机器人表现活跃,行业快速发展
2025-04-15 14:30
各位小伙伴大家下午好欢迎收看禅论解盘我是光大证券投资顾问李全大家也可以叫我李师兄我们的直播时间是每个交易日下午四点整我们下午档的直播呢主要是围绕着市场的核心逻辑以及盘面的一些热点也包括我们会去展望未来市场的发展机遇包括我们用本土非常有名非常有代表性的禅中说禅形态理论来去分析前瞻市场啊 也非常感谢大家能够来到我们直播间接下来我们就来一起探讨市场在今天有什么样的特征我们可以看到在早盘的时候在外部股市出现非常明显回落的背景之下开盘的时候很多板块其实还是面临着非常明显的压力 有很长一段时间在盘蒸的时候护指一直是处于水下的这样一个状态一直是处于下跌的状态 但是在午后呢整体市场就发生了非常明显的这样一个变化首先小市值的成长风格的板块个股的表现要比啊一些大盘篮球的强势的多而且我们也是看到了市场在一个非常重要的领域啊形成了示范效应也就是我们所谓的国产芯片啊持续的这样一个上涨 背驰结构所以我们可以看到今天你包括像半导体这个板块在昨天的时候它就是呈现出来了这样一个短线的下跌背驰的结构如果大家学会缠论可能在昨天的时候也都能够看到这些呈现出底部背驰结构的这些板块 而这些板块它们有了这样一个走势结构之后就为未来市场的这样一个修复奠定好 ...
潍柴动力20250304
2025-04-15 14:30
今天向大家分享一下我们关于维材动力的最新更新和推荐的观点我们认为维材动力受益于今年以来的重卡的景气复苏的这样的一个大的行业的背景公司整条重卡链尤其是天然气重卡发动机将会受益比较多 同时呢公司的成长业务就是AIDC相关的柴油机以及其他跟它体积这个功率相当的大刚性发动机仍然会给公司带来一些明显的动能结合近期整个产业链供给比较稀缺的一个特点我们认为呢维柴今年受益于这一类成长业务的这个业绩占比也会逐渐的提升 但是即使是这种苗头仍然明显好于往年在这个节后旺季的状态他去试图降价抢市场的这样一种现象因此呢我们判断今年仲卡的这个复苏确实跟往年有所不同那么对于仲卡链而言的话呢整个行业都将受益于景气度提升的机会 那么更何况我们到目前为止其实今年的已旧换新政策虽然说国家已经出了但其实呢并还没有实质的这种落地因为落地还需要地方一级的细则那么这个细则什么时候具体出我们是无法预测的但是可以知道的是在目前重卡行业没有已旧换新的一个状态下我们的这个企业仍然取得了不错的销量那么这个就说明给我们今年的这个行业打了一个不错的基数 我们估计维柴今年有希望做到接近130亿的利润明年有希望超过140亿因此虽然说公司近期有一定的涨幅但是大致对应目前大约在 ...
阿拉丁20250304
2025-04-15 14:30
这样的话通过双方的合作肯定是会影响我们的币转的销售起到一个很大的作用然后说产品的成货度默克的产品肯定多了但是默克货它是全球币货它在国内货它的货期可能应该比较长一些比较长一些像我们国内货现在有地缘优势 也这样就是我们的产品也不是说等着表给他重复的有些产品的话他们也是没有的但是说这个在国内市场来说我们在服务客户方面然后说刚才讲的性价比方面可能我们要更强一些但是也是被他看中了的一点默克在国内的销售他应该是经销加直销吧他直销人员不少而且他都是说是一些 一些这个呃重量级的客户啊都是一些大的企业客户啊所以说他们他会派派人来去执销啊他呢当年的这个产能还是比较高的 您刚提到他们单人产出还比较高他大概是一个什么样的水平就是在他们单人产出的情况包括后边跟我们合作之后然后他们包括我们这边的单人产出提升了一个想法单人产出他们要要求一个人要收入几百万欧元所以他单人产出量比较高所以做事之前手里得有大客户这是他的一个特点 读进去吧 因为阿拉丁在海外这几年也是在加紧做 海外市场的话 首先呢就是说我们的产品现在肯定是比能力上比它弱很多嘛刚才我也讲了嘛就是因为我们海外备货也是有选择性的备了一部分但后期还会增加因为我们的仓库大概有三千多平米而且那 ...
中瓷电子20250304
2025-04-15 14:30
Summary of Conference Call Company Overview - The company discussed is Zhongsi Electronics, located in Shijiazhuang, which originally focused on providing electronic ceramic shells for surgical procurement. The company underwent significant asset restructuring in 2013, acquiring several businesses including Hebei Bowei, and shifting towards RF chip manufacturing and telecommunications [1][2]. Core Business Changes - The asset restructuring has transformed Zhongsi Electronics from a supplier of ceramic shells to a complete product industry chain in telecommunications, including upstream design, midstream manufacturing, and downstream packaging and testing [1][2]. - The new main business, focusing on telecommunications chips, has a gross margin of approximately 30% to 40%, compared to the previous 28% to 30% margin from ceramic shell production [2][3]. Industry Dynamics - The telecommunications chip market is relatively small, with a market size of approximately 5 to 6 billion RMB in the telecom sector, but it also has applications in defense [3][4]. - The competitive landscape shows that the top five companies in this sector are predominantly foreign, holding a combined market share of 76% [4]. Domestic Competitors - Zhongsi Electronics is highlighted as a representative domestic player, backed by state-owned assets from China Electronics Technology Group. The company has integrated multiple assets to form a full industry chain model [5]. - Huawei is noted as a significant player in the telecommunications base station sector, although it is not publicly listed, limiting available data on its products [5]. Technological Positioning - Zhongsi Electronics is positioned with a stable technology route, focusing on mainstream technologies for the next three to five years, particularly in 5G and beyond [6][7]. - The company is perceived to be lagging in cutting-edge technology compared to international competitors, but maintains a solid position in the domestic market [7]. Financial Performance - For the first three quarters of 2024, Zhongsi Electronics reported revenue of 886 million RMB, a slight decline of 1.1% year-over-year, while net profit increased by 7.4% to 369 million RMB [8]. - The company anticipates a revenue growth rate of 5% to 10% over the next two years, with stable operating income around 500 million RMB annually [9]. - The company's price-to-earnings (PE) ratios for 2024 to 2026 are projected at 32x, 30x, and 28x, respectively, indicating a relatively high valuation despite short-term growth challenges [9]. Additional Insights - The restructuring has created a robust ecosystem with high gross margins across various segments, indicating a healthy competitive environment within the industry [3]. - The company faces challenges in demand stimulation in the short term, which may affect its growth trajectory over the next one to two years [9].
柳工20250304
2025-04-15 14:30
Summary of Conference Call Notes Company and Industry Overview - The discussion revolves around the engineering machinery industry, specifically focusing on a company referred to as "LiuGong" which is a leading player in this sector [doc id='17'][doc id='11']. Core Insights and Arguments 1. **Investment Strategy and Research Approach**: The company emphasizes the importance of continuity in investment perspectives and aims to publicly summarize its predictions and errors over time, indicating a commitment to transparency in research and investment decisions [doc id='1']. 2. **Domestic Demand Expectations**: The company expresses low expectations for domestic demand, particularly in real estate, which is viewed as a core driver for engineering machinery. Historical comparisons with Japan and the US support this view [doc id='2']. 3. **Flat Upward Cycle Concept**: The company introduces the idea of a "flat upward cycle" in demand, suggesting that while there may be growth, it will not reach previous highs, particularly in the context of real estate's influence [doc id='3']. 4. **Performance of Excavators**: There has been a notable increase in excavator sales, particularly in early 2023, with expectations of continued growth. However, this growth is viewed as different from historical trends driven by real estate [doc id='5'][doc id='6']. 5. **International Market Expansion**: The company highlights strong growth in the Asia, Africa, and Latin America regions, where Chinese companies are expanding their market share and product offerings [doc id='7']. 6. **Stock Performance and Market Sentiment**: The stock performance of state-owned enterprises has been strong, but the engineering machinery sector has seen a more subdued market reaction despite positive data expectations [doc id='8']. 7. **Profitability and Management Reforms**: The company discusses ongoing management reforms aimed at improving profitability and operational efficiency, which are expected to yield long-term benefits [doc id='10'][doc id='21']. 8. **Focus on Key Companies**: LiuGong is identified as a key player within the engineering machinery sector, with expectations for higher growth rates compared to its peers [doc id='11']. 9. **Export Growth and Challenges**: The company notes that while export growth has slowed, there are still opportunities in emerging markets, particularly in Southeast Asia and South America, driven by resource demands [doc id='29'][doc id='30']. 10. **Technological Advancements**: LiuGong has been proactive in adopting electric machinery, with significant advancements in electric excavators and loaders, positioning itself as a leader in this transition [doc id='33']. Additional Important Insights 1. **Financial Performance Metrics**: The company reports a significant increase in overseas revenue, with a 50% CAGR from 2020 to 2023, indicating strong international growth [doc id='18']. 2. **Market Dynamics**: The engineering machinery market is experiencing structural changes, with water conservancy projects seeing a 40% increase in investment, contrasting with more stable real estate investments [doc id='25']. 3. **Risk Factors**: Key risks include fluctuations in steel prices and exchange rates, which could impact profitability and operational costs [doc id='14']. 4. **Cash Flow Management**: The company has maintained stable cash flow management, although there are concerns about increasing accounts receivable due to longer collection cycles in overseas markets [doc id='24']. 5. **Future Outlook**: The company anticipates continued growth in EPS and profitability, driven by operational efficiencies and market expansion, despite potential valuation constraints [doc id='41']. This summary encapsulates the key points discussed in the conference call, providing a comprehensive overview of the company's strategic direction, market conditions, and financial performance.
中国中铁20250303
2025-04-15 14:30
首先我们邀请到的就是董办副主任杨总以及我们的董办同管处长周总我们也知道近期大家对于这个整体的建筑央企包括整体的这个复工复产的情况也比较关心那我这边呢也事先先收集几个问题首先在这里问一下总体的各位领导哈第一个呢就是我们在这个节后的那个复工复产的节奏怎么样到现在为止现在我们的整体的开工情况是不是恢复到正常和往年同期相比咱们这个复工的节奏大概是什么样的 想请教一下各位领导 谢谢好嘞 张总首先感谢各位投资者在这个百忙时间也抽出时间来参加我们这次这个线上沟通刚才张师总先问了一个关于复工复产的情况这方面一个消息其实从这个节后复工以来可能这个市场上对于这个国资央企包括建筑企业整体这种复工复产情况还是非常关心的 我们也一直很关注尤其是这个开工之后可能某些网站上也说到这个今年可能表现出他们可能统一出来数据觉得今年这个复工复产情况可能比以往稍微差一些但是呢我们也是根据自己的情况我们也在今年的春节开工之后包括元宵节之后呢我们也统计了一下全公司的复工复产的情况那么总体的复工复产情况是跟去年差不多的 而且呢现在呢也基本恢复到了去年的这个丰富出来的一个水平啊可能跟这个百年建筑这个就是这个这些网站上的这个数据不太一样啊但是我们也看到有些其 ...
持续看好机器人,把握产业上升趋势
2025-04-15 14:30
整个机器人板块我们是今年年初以来持续看好那么最近两个交易日有一定的调整但是我们判断整个机器人的大的产业趋势还是在的所以我们还是坚定看好整个机器人后续的一个表现 那么今天呢是由呃我们机械组和居生智能组来共同给大家汇报那么首先我先呃简单汇报一下我们的观点呃从这个后续我们对机器人有几个期待第一个就是量产我们市场其实对人型机器人的量产的预期已经已经是在的但是呃对于一些零部件就我们以四杖为例就很多零部件其实目前的产能它 实际上是不够满足后面的量产的所以这一块其实我们建议要关注一些产能布局相对比较早的比如像恒利液压以及一些设备公司 这是一个角度就量产的期待第二个是大脑和小脑的进化因为这个是机器人技术的一个比较明显的一个短板那么这一块其实我们建议关注有相关相关性技术的企业或者一些潜在的进入者比如像谷高华中然后第三类是一些有可能会率先落地的一些场景比如说像尤其是一些特种机器人专用机器人比如矿山机器人外骨骼机器人这些相对细分一些的方向我们认为除了人形以外 也值得关注所以这是对我就简单简单汇报这些然后下面请我们聚天智能组陈传红老师来给大家汇报好嘞谢谢蛮多感谢大家关注我们那个聚能整合机械团队嗯大家从我们这边跟踪这些标题包括行业的一 ...