证券代码：688160 证券简称：步科股份 公告编号：2025-070 上海步科自动化股份有限公司 关于更换持续督导保荐代表人的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 上海步科自动化股份有限公司（以下简称"公司"）于 2025 年 11 月 26 日 收到持续督导机构国泰海通证券股份有限公司（以下简称"国泰海通"）《关于 更换上海步科自动化股份有限公司持续督导保荐代表人的函》。国泰海通作为公 司首次公开发行股票及向特定对象发行股票的保荐机构，指定陈辉先生、秦国亮 先生为公司首次公开发行股票及向特定对象发行股票项目的保荐代表人，负责保 荐工作及持续督导工作，其中公司首次公开发行股票项目持续督导期已于 2023 年 12 月 31 日届满，但截至目前，公司募集资金尚未使用完毕，根据相关规定， 国泰海通对此未尽事项继续履行持续督导义务；公司向特定对象发行股票项目持 续督导期至 2027 年 12 月 31 日。 2025 年 11 月 27 日 附件：邬凯丞先生简历 本次保荐代表人更换后，公司首次公开发行股票及向特 ...

| 股东名称 | 上海步进信息咨询有限公司 | | --- | --- | | 减持计划首次披露日期 | 2025年8月5日 | | 減持数量 | 2,724,876股 | | 减持期间 | 2025年9月5日~2025年11月25日 | | 减持方式及对应减持数 | 大宗交易减持,1,816,644 股 | | 量 | 集中竞价减持,908.232 股 | | 减持价格区间 | 77.06～110.05元/股 | | 减持总金额 | 239,303,206.79元 | | 减持完成情况 | 未完成:90 股 | | 减持比例 | 3% | | 原计划减持比例 | 不超过:3% | | 当前持股数量 | 34,254,877股 | | 当前持股比例 | 37.71% | 步科股份2020年11月12日在上交所科创板上市，发行数量为2100万股，发行价格为20.34元/股，保 荐机构为海通证券股份有限公司（更名：国泰海通证券股份有限公司），保荐代表人为郑乾国、秦国 亮。 步科股份募集资金总额为4.27亿元，扣除发行费用后，募集资金净额为3.81亿元。步科股份最终募 集资金净额较原计划多1.11亿元。步科股份发布 ...

重要内容提示： 控股股东持股的基本情况 本次减持计划实施前，上海步科自动化股份有限公司（以下简称"公司"）控 股股东上海步进信息咨询有限公司（以下简称"上海步进"）持有公司股份 36,979,753 股，占公司总股本 90,832,206 股的 40.71%，上述股份来源为公司首次 公开发行前取得的股份，已于 2023 年 11 月 13 日解除限售并上市流通。 证券代码：688160 证券简称：步科股份 公告编号：2025-069 上海步科自动化股份有限公司 关于控股股东及其一致行动人权益变动触及 1%刻 度暨减持股份结果公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律 责任。 减持计划的实施结果情况 公司于 2025 年 8 月 5 日在上海证券交易所网站（www.sse.com.cn）披露了 《控股股东减持股份计划公告》（公告编号：2025-050），控股股东上海步进计划 通过集中竞价及大宗交易方式减持其所持有的公司股份合计不超过 2,724,966 股 （不超过公司总股本的 3%），减持期间自公告披露之日起 ...

Core Viewpoint - The company announced that its controlling shareholder, Shanghai Bujin Information Consulting Co., Ltd., has completed a share reduction plan, decreasing its stake in the company without triggering a mandatory bid [1] Group 1: Share Reduction Details - From September 17, 2025, to November 24, 2025, Shanghai Bujin reduced its holdings by 849,432 shares, which represents 0.94% of the company's total share capital [1] - Following this reduction, the combined shareholding of Shanghai Bujin and its concerted parties, including Tang Dong and Shenzhen Tongxin Zhongyi Investment Management Center (Limited Partnership), decreased from 57.88% to 56.95% [1] - The share reduction plan has been fully implemented and did not trigger a mandatory bid, ensuring that the controlling shareholder and actual controller of the company remain unchanged [1]

格隆汇11月25日丨步科股份(688160.SH)公布，公司于2025年11月25日收到公司控股股东上海步进出具 的《关于权益变动触及1%暨减持计划实施完毕的告知函》，上海步进于2025年9月17日至2025年11月24 日期间，通过集合竞价方式累计减持公司股份84.94万股，占公司总股本的0.94%。 ...

格隆汇11月25日丨步科股份(688160.SH)公布，公司于2025年11月25日收到公司控股股东上海步进出具 的《关于权益变动触及1%暨减持计划实施完毕的告知函》，上海步进于2025年9月17日至2025年11月24 日期间，通过集合竞价方式累计减持公司股份84.94万股，占公司总股本的0.94%。 ...

Group 1 - The core viewpoint of the news is that Buke Co., Ltd. has seen a stock price increase of 5.09%, reaching 88.72 yuan per share, with a total market capitalization of 8.059 billion yuan as of November 25 [1] - Buke Co., Ltd. specializes in the research, production, and sales of core components for industrial automation equipment and digital factory software and hardware, providing automation control and digital factory solutions [1] - The company's main business revenue composition includes 69.15% from drive systems, 30.09% from control systems, and 0.77% from other sources [1] Group 2 - Among the top circulating shareholders of Buke Co., Ltd., Yongying Fund's advanced manufacturing mixed fund A (018124) reduced its holdings by 131,600 shares, now holding 4.0105 million shares, which is 4.77% of the circulating shares [2] - The fund has achieved a year-to-date return of 62.2%, ranking 242 out of 8,136 in its category, and an annual return of 85.37%, ranking 57 out of 8,058 [2] - The fund manager, Zhang Lu, has a total fund asset scale of 22.921 billion yuan, with the best fund return during his tenure being 105.15% [3]

Group 1 - The core viewpoint of the news is that Buke Co., Ltd. has seen a stock price increase of 5.09%, reaching 88.72 yuan per share, with a total market capitalization of 8.059 billion yuan as of November 25 [1] - Buke Co., Ltd. specializes in the research, production, and sales of core components for industrial automation equipment and digital factory software and hardware, providing automation control and digital factory solutions [1] - The company's main business revenue composition includes 69.15% from drive systems, 30.09% from control systems, and 0.77% from other sources [1] Group 2 - Huashang Runfeng Mixed A Fund (003598) is among the top ten circulating shareholders of Buke Co., Ltd., having increased its holdings by 186,400 shares to a total of 572,100 shares, representing 0.68% of circulating shares [2] - The fund has achieved a year-to-date return of 72.33% and a one-year return of 79.62%, ranking 122 out of 8,136 and 103 out of 8,058 respectively in its category [2] - The fund manager, Hu Zhongyuan, has a total asset scale of 40.106 billion yuan, with the best fund return during his tenure being 337.64% [3]

Key Points - The mechanical sector has seen a significant increase of 30.12% as of November 20, 2025, outperforming the CSI 300 index by 14.11 percentage points, ranking 6th among 30 sectors [5][14]. - The lithium battery equipment, basic components, and semiconductor equipment sub-sectors have shown strong growth, with increases of 103.2%, 58.93%, and 48.05% respectively [5][14]. - The report maintains a "stronger than market" investment rating for the mechanical industry, highlighting a new investment cycle and growth opportunities [5][6]. Mechanical Sector Performance - As of November 20, 2025, the mechanical sector's price-to-earnings ratio stands at 36.1, placing it in the 70.5 percentile of its 10-year historical range, indicating a higher valuation compared to historical averages [19][20]. - Among 632 listed companies in the mechanical sector, 549 have seen stock price increases in 2025, with a median increase of 30.23% [21][24]. New Recovery Cycle: Traditional Machinery Upgrading - The engineering machinery sector is entering a new equipment renewal cycle starting in 2025, driven by the aging of existing equipment and export expansion [25][28]. - Major products in the engineering machinery sector, such as excavators and loaders, have shown positive sales growth, with excavator sales reaching 192,135 units in the first ten months of 2025, a 17% year-on-year increase [28][29]. - The internationalization of engineering machinery is accelerating, with exports becoming a significant growth driver, as evidenced by excavator exports accounting for 53.21% of total sales in October 2025 [40][43]. New Technology Growth: Emerging Industries - The humanoid robot sector is experiencing a recovery, with mass production expected to drive significant market expansion [7][20]. - The AIDC (Automatic Identification and Data Capture) equipment sector is poised for rapid growth, benefiting from the fast development of the artificial intelligence industry [9][27]. - The lithium battery equipment sector is witnessing a rebound, with leading companies like Xian Dao Intelligent expected to benefit from the growing demand for solid-state battery equipment [9][35]. Investment Ratings and Key Targets - The report recommends key companies in the engineering machinery sector, including SANY Heavy Industry and XCMG, as primary investment targets due to their strong performance and growth potential [5][54]. - The focus on core components such as pumps, valves, and hydraulic cylinders is also emphasized as part of the investment strategy [54].

Core Viewpoint - The robotics ETF (159770) is experiencing significant growth, with a notable increase in net subscriptions and a strong performance in the underlying robotics sector, indicating a favorable investment environment in the robotics industry driven by domestic substitution and technological advancements [1][2]. Group 1: ETF Performance - As of November 21, 2025, the robotics ETF (159770) had a turnover of 3.27% and a transaction volume of 313 million yuan, ranking first among similar products in the Shenzhen market [1]. - The ETF has seen a substantial increase in scale, growing by 944.5 million yuan over the past month, reaching a new high of 9.877 billion shares [2]. - The ETF has recorded continuous net inflows over the past 26 days, totaling 1.813 billion yuan, with a peak single-day inflow of 285 million yuan [2]. Group 2: Industry Trends - The A-share robotics sector is showing resilience, with several stocks experiencing significant rebounds despite a general market downturn, including notable gains from companies like Weichuang Electric and Siling Co., which rose over 5% [2]. - The industrial robotics industry in China is maintaining a high growth rate, with production reaching 57,900 units in October 2025, a year-on-year increase of 17.9%, and a cumulative production of approximately 602,700 units in the first ten months, reflecting a 28.8% increase [5]. - The industry is expected to continue its upward trajectory, driven by the implementation of key projects and deepening equipment renewal policies, which are likely to enhance overall market conditions [5]. Group 3: Technological Developments - The Hubei provincial government is promoting the integration of the Beidou system with robotics and other industries, emphasizing the development of new application scenarios such as "Beidou + humanoid robots" and "Beidou + artificial intelligence" [3]. - Amazon's Zoox has launched a user waitlist for its autonomous taxi service in San Francisco, marking a significant step in the commercialization of self-driving technology and increasing competition in the autonomous vehicle market [4][5].