国泰海通证券股份有限公司 关于滁州多利汽车科技股份有限公司 | 3 | 昆山达亚汽车零部件有限公司汽车电池托 盘、冲压件生产项目 | 30,617.79 | 24,938.55 | 21,579.55 | | --- | --- | --- | --- | --- | | | 盐城多利汽车零部件有限公司汽车零部件 | | | | | 4 | 制造项目 | 43,325.88 | 36,601.66 | 36,689.47 | | 5 | 昆山达亚汽车零部件有限公司冲压生产线 | 23,898.17 | 23,652.01 | 24,017.97 | | | 技改项目 | | | | | 6 | 常州多利汽车零部件有限公司汽车精密零 | 300,000.00 | 25,000.00 | 25,078.33 | | | 部件及一体化底盘结构件项目 | | | | | 7 | 上海达亚汽车配件有限公司临港达亚汽车 | 90,000.00 | 38,000.00 | 31,099.63 | | | 零部件智能化制造基地项目 | | | | | 8 | 补充流动资金项目 | 30,000.00 | 30,000.00 ...

国泰海通证券股份有限公司 关于滁州多利汽车科技股份有限公司 继续使用部分闲置募集资金及自有资金进行现金管理的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐机构"）作为 滁州多利汽车科技股份有限公司（以下简称"多利科技"或"公司"）首次公开 发行股票并在主板上市的保荐机构，根据《证券发行上市保荐业务管理办法》《深 圳证券交易所股票上市规则》《深圳证券交易所上市公司自律监管指引第 1 号— —主板上市公司规范运作》及《上市公司募集资金监管规则》等相关规定，对多 利科技继续使用部分闲置募集资金及自有资金进行现金管理事项进行了核查，具 体核查情况如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于核准滁州多利汽车科技股份有限公司首次 公开发行股票的批复》（证监许可[2022]3066 号）核准，公司首次公开发行人 民币普通股（A 股）股票 3,533.3334 万股，每股发行价格 61.87 元，实际募集 资金总额 218,607.34 万元，扣除发行费用 15,938.64 万元（不含税）后，实际 募集资金净额 202,668.70 万元，该募集资金已于 2023 年 2 月 20 日划至 ...

证券日报网讯2月25日，多利科技（001311）在互动平台回答投资者提问时表示，截至2026年2月13日， 公司不含信用账户合并股东名册股东总人数约为1.25万户。 ...

Group 1 - The Hong Kong stock market experienced a decline on the first trading day of the Year of the Horse, with the Hang Seng Technology Index falling by 2.28% and the Hang Seng Index down by 0.61% [1] - Internet technology stocks faced pressure, while the semiconductor sector also weakened [1] - In contrast, the robotics sector showed strong performance, with companies like Yujian rising over 19% and UBTECH increasing by over 6% [1] Group 2 - The surge in the robotics sector is closely linked to the "robot effect" from the 2026 CCTV Spring Festival Gala, which featured a high density of humanoid robots [2] - The Spring Festival Gala significantly boosted consumer interest, with JD.com reporting a 300% increase in robot search volume and a 150% increase in order volume within two hours of the gala [1][2] - The Beijing Economic and Information Technology Bureau noted that the city has over 30 humanoid robot manufacturers, positioning it among the top in the country [2] Group 3 - The East Wu Securities mechanical research team highlighted that advancements in core robotic capabilities are crucial for the industry's growth and transition from laboratory to factory settings [2] - The period from 2021 to 2025 is seen as foundational for the robotics industry, with 2026 expected to mark a significant shift towards large-scale production by leading companies [2] - Public funds have been actively researching the robotics supply chain, with major firms like Jiashi Fund and E Fund participating in investor activities [2]

Group 1 - The core focus of public funds is shifting towards the robotics industry chain, with multiple institutions conducting intensive research to uncover potential investment opportunities ahead of the new year [1][2] - Multiple public funds, including 嘉实基金, 易方达基金, and 宝盈基金, participated in a joint research on 多利科技, which is advancing in the robotics sector through a recent acquisition of 70% stake in 悍猛传动 [1] - 奥比中光, a leader in 3D visual perception technology, is also a popular subject of public fund research, with 15 institutions participating in discussions about its accelerating technology implementation in the robotics and AI vision sectors [1] Group 2 - Other companies in the robotics industry chain, such as 绿的谐波, 步科股份, and 汇川技术, have also been frequently appearing in public fund research lists, indicating strong institutional interest in the long-term potential of the robotics sector [2] - The recent activity in the robotics sector is not merely driven by seasonal sentiment, as evidenced by a surge in sales of high-end robots following the Spring Festival Gala, indicating a shift from concept to actual market demand [2] - Analysts believe that the concentrated research by public funds on the robotics industry chain reflects both a response to short-term market trends and a long-term bet on the industry's growth potential, driven by demographic changes and manufacturing upgrades [2]

Core Viewpoint - The company is focusing on expanding its robotics core components business through the acquisition of a 70% stake in Hanmeng Transmission, aiming to create new growth opportunities despite recent financial challenges [1][2]. Financial Performance - For Q3 2025, the company reported revenue of 975 million yuan, a year-on-year increase of 2.13%, but net profit significantly declined by 72.13% to 34.21 million yuan due to price adjustments from certain clients affecting gross margins [2]. - Cumulatively, for the first three quarters of 2025, revenue reached 2.709 billion yuan, reflecting an 8.92% year-on-year growth, while net profit fell by 43.93% to 192 million yuan, and non-recurring net profit decreased by 47.70% to 175 million yuan [2]. Stock Performance - The stock has experienced significant volatility, with a cumulative decline of 9.29% over the past five days, closing at 39.37 yuan on February 13, 2026, with a daily drop of 0.15% and a trading volume of 1.562 billion yuan [3]. - On February 9, 2026, the stock price peaked at 44.00 yuan, marking a 1.38% increase for that day, but subsequently faced a correction with a price fluctuation of 13.06% [3]. Institutional Insights - Institutional research indicates a neutral market focus, with a composite target price of 30.50 yuan, suggesting a potential upside of approximately 23.68% from the latest price [4]. - Profit forecasts from institutions predict a 25% year-on-year increase in net profit for 2026, with revenue expected to reach 4.616 billion yuan, reflecting optimism about the long-term potential of the robotics business, although the immediate financial impact from Hanmeng Transmission is expected to be limited due to its smaller scale [4].

- The report does not contain any quantitative models or factors for analysis[1][2][3][4][5][6][7][8][9][10][11][12][13][14][15][16][17][18][19][20][21][22][23][24][25][26][27][28][29][30][31][32][33][34][35][36][37][38][39][40][41][42]

Summary of the Conference Call on Multi-Tech's Acquisition of Suzhou Hanm Company and Industry Overview - **Company**: Multi-Tech (多利科技) - **Acquisition Target**: Suzhou Hanm Transmission (昆山汉姆) - **Industry**: Robotics and Harmonic Gear Reducers Key Points and Arguments Acquisition Details - Multi-Tech signed a formal agreement to acquire 70% of Suzhou Hanm, retaining 30% for the founding team [5][6] - The acquisition was delayed in announcement due to market volatility, but the new business license is expected shortly [5] - Suzhou Hanm has filed 94 patents, including 14 invention patents related to harmonic gear technology [6] Product Advantages - The new harmonic gear reducer fills a gap in the reduction ratio market, specifically for ratios between 11 and 50, which are currently underserved [10][18] - The design features dual steel wheels and a ring-shaped flexible wheel, enhancing durability and efficiency [12][14] - The efficiency of the new reducer is reported to be 88%, significantly higher than traditional models [14] - The product is expected to have a lifespan improvement of 100% and impact resistance enhancement of over 50% [13] Market Potential and Client Engagement - Initial samples were sent to major clients, including Tesla, with positive feedback on the innovative design [8][20] - Multi-Tech aims to leverage its existing relationship with Tesla to facilitate entry into the robotics market [20][21] - Future discussions with clients will focus on production capacity and potential joint ventures, particularly in Europe and North America [16][22] Financial Outlook - Multi-Tech anticipates a revenue growth of 20-25% in its traditional business, driven by new vehicle models and increased production [41][43] - The company is exploring financing options for potential expansion into North America and Southeast Asia, particularly for production capacity [32][34] Strategic Partnerships - Multi-Tech is considering collaborations with European partners to enhance its market position and facilitate entry into North America [52][54] - The European partner, Aiderlan, has a strong background in automotive components and is interested in expanding into robotics [53][55] Additional Important Information - The company is cautious about stockholder actions, indicating that major shareholders are unlikely to sell shares in the near term due to stable cash flow and ongoing investments [24][32] - The focus on joint ventures and partnerships is seen as a strategic move to mitigate risks associated with entering new markets [16][22] This summary encapsulates the key discussions and insights from the conference call regarding Multi-Tech's strategic acquisition and its implications for future growth in the robotics sector.

Core Viewpoint - The company is actively optimizing its industrial layout, enriching its product structure, and enhancing product competitiveness while expanding its domestic and international customer base to increase market coverage [1] Group 1: Business Strategy - The company is closely tracking changes in customer demand and will flexibly adjust production capacity and product planning based on market feedback and business development [1] - The goal is to achieve efficient matching of supply and demand, continuously enhancing the company's overall competitiveness and market responsiveness [1] Group 2: Compliance and Disclosure - The company will strictly adhere to relevant laws and regulations regarding information disclosure for any future plans [1]

Core Viewpoint - The company aims to enhance its long-term strategic planning and developmental goals through the acquisition of a stake in Hanmeng Transmission and subsequent capital increase, focusing on synergistic effects in production, product development, and supply chain channels [1] Group 1: Strategic Objectives - The acquisition is intended to accelerate the company's strategic advancement in the core components of robotics, thereby expanding new business growth curves [1] - The collaboration with Hanmeng Transmission is expected to leverage both companies' resources and management experience to improve operational management standards [1] Group 2: Competitive Advantage - The transaction is designed to enhance the company's core market competitiveness and sustainable profitability by achieving resource and capability complementarity [1] - The partnership aims to yield favorable investment returns through effective cooperation with other shareholders of Hanmeng Transmission [1]