Investment Rating - The investment rating for the company is "Buy" (maintained) [2][12]. Core Views - The company is focused on becoming a supplier of humanoid robot "limbs" and has reported a significant increase in net profit for 2024, with a year-on-year growth of 494% [1][9]. - The company achieved a revenue of 7.13 billion yuan in 2024, representing a year-on-year increase of 18.4% [7][10]. - The company expects a net profit of 69 to 75 million yuan for the first quarter of 2025, which is a year-on-year growth of 32% to 43% [7][10]. Financial Summary - The total market capitalization of the company is 166.66 billion yuan, with a circulating market capitalization of 120.09 billion yuan [3]. - The company's stock price is currently at 133.82 yuan, with a 52-week high of 182.00 yuan and a low of 45.13 yuan [3]. - The company has a total share capital of 1.25 billion shares, with 900 million shares in circulation [3]. Business Segments Performance - In the lithium battery precision structural components segment, the company achieved a revenue of 4.24 billion yuan in 2024, a year-on-year increase of 29.84%, with a gross margin improvement of 2.75 percentage points to 11.28% [8]. - The motor core segment saw a revenue decline of 11.78% to 1.51 billion yuan, but the gross margin improved to 18.85%, up 2.41 percentage points [8]. - The mold business segment experienced a revenue increase of 32.70% to 416 million yuan, with a gross margin of 53.85%, up 4.93 percentage points [8]. Humanoid Robot Business Development - The company has established a wholly-owned subsidiary, Martin Robotics, to enter the humanoid robot components market [9]. - The company has developed a complete set of mature processes for reverse planetary roller screw and has begun small-batch supply to leading humanoid robot manufacturers [9]. - The company is expected to leverage its high-quality customer resources and precision manufacturing capabilities to become a key player in the humanoid robot supply chain [9].
震裕科技（300953）：公司信息更新报告：2024年净利润同比大增494%，致力成为人形机器人“肢体”供应商