Electrical Components and Equipment

Keli

Deep Research

02498

605488

688322

688071

02050

002050

HSAI

02525

603662

600480

BOSCH

300007

688582

TSLA

XPEV

09868

Entering 2025, three years into the OpenAI-led AI cycle, the industry remains in a full-on AI investment phase. Based on our recent work, Dolphin Research sees 2026 hinging on compute cost-down and on AI capex translating into deployments across software and hardware.The rollout of new hardware is the true incremental driver. Meanwhile, mass production of Tesla's Optimus is drawing closer, and humanoid robots could become the primary AI form factor, reshaping human interaction and productivity.On this premise, Dolphin Research is launching coverage on the robotics supply chain. This is Part 1.

ROBOSENSE

Fulai New Material

Orbbec

Honeywell

W-Ibeda

SANHUA

Sanhua

Hesai

HESAI-W

Lingyun Ind

Hanwei Electronics

XDLK

Tesla

XPeng

XPENG-W

Humanoid Robots: AI's Best Hope?

Keli released FY2025 annual earnings on April 27 During-Market (BJT), actual revenue CNY 1.558 B (forecast CNY 1.609 B), actual EPS CNY 1.21 (forecast CNY 1.205)

Keli released FY2025 Q4 earnings on April 27 During-Market (BJT), actual revenue CNY 476.84 M (forecast CNY 473 M), actual EPS CNY 0.31

Keli released FY2026 Q1 earnings on April 27 After-Market (BJT), actual revenue CNY 357.69 M, actual EPS CNY 0.15

Keli to Release FY2026 Q1 Earnings on April 28 After-Market (BJT)

Keli to release FY2025 earnings report on April 28 During-Market BJT, forecast revenue CNY 1.609 B, EPS CNY 1.205

Keli released FY2025 Q3 earnings on October 30 During-Market (BJT), actual revenue CNY 396.42 M, actual EPS CNY 0.2898

Keli released FY2025 9 Months Earnings on October 30 During-Market (BJT), actual revenue CNY 1.082 B, actual EPS CNY 0.8991

Keli to Release FY2025 Q3 Earnings Report on October 31 During-Market BJT

Keli released FY2025 Semi-Annual Earnings on August 28 During-Market (BJT), actual revenue CNY 685.18 M, actual EPS CNY 0.61

Keli released FY2025 Q2 earnings on August 28 During-Market (BJT), actual revenue CNY 369.6 M, actual EPS CNY 0.3392

Keli to Release FY2025 Semi-Annual Earnings on August 29, 2025 (BJT)

Koli Sensing Strategic Investment in North Micro Sensor

Director of Kelisi Sensing Reduced Shares

Guokin Securities Upgrades Kelisi Sensing to Buy Rating

Lin Defa Sells 73,900 Shares of Kelisi Sensing

Keli Sensing Senior Officer Lindafa Reduces Shares

Director Wang Zhuqing of Kelisi Sensor Reduced Shares

Senior executive of Keli Sensing Lin Defa reduces shareholding

Guokin Securities Gives Keli Sensing a Buy Rating

Keli Sensing Executives Sell 11,000 Shares

According to the Zhitong Finance APP, Keli disclosed its third-quarter report for 2025. The company achieved revenue of 1.082 billion yuan in the first three quarters, a year-on-year increase of 17.72%; the net profit attributable to the parent company was 254 million yuan, a year-on-year increase of 33.29%; the net profit excluding non-recurring gains and losses was 172 million yuan, a year-on-year increase of 8%; and the basic earnings per share were 0.90 yuan

Zhitong

Keli released its performance for the first three quarters, with a net profit attributable to the parent company of 254 million yuan, a year-on-year increase of 33.29%

Keli announced that its controlling shareholder's concerted action partners, Lu Zhonggeng and Huang Zhaoxia, plan to reduce their holdings in the next three months. Lu Zhonggeng will reduce his holdings by no more than 1.35 million shares, accounting for 0.4807% of the total share capital; Huang Zhaoxia will reduce her holdings by no more than 100,879 shares, accounting for 0.0359% of the total share capital. The reduction price will be determined based on market prices

The concerted action party of Keli's controlling shareholder plans to reduce its holdings by no more than 0.5166% of the shares

Keli stated on the interactive platform that the six-dimensional force sensors used for AI therapy robot mechanical arms and Kepler humanoid robots have currently achieved mass shipments of hundreds of units

Keli: The six-dimensional force sensors used in AI therapy robot mechanical arms and Kepler humanoid robots have achieved mass shipment

Keli plans to acquire a 45% stake in its controlling subsidiary Huahong Technology for 122 million yuan, after which it will hold a 96% stake in Huahong Technology. This move aims to enhance control over the subsidiary, improve management efficiency, reduce costs and risks, and align with the company's long-term development strategy

Keli plans to acquire 45% equity of its controlling subsidiary Huahong Technology for 122 million yuan

Keli announced that in the first half of 2025, operating revenue was 685 million yuan, a year-on-year increase of 23.40%. Net profit was 173 million yuan, a year-on-year increase of 47.93%

Keli: Net profit in the first half of 2025 increased by 47.93% year-on-year

605177

601975

002609

On August 25th, 4 companies announced their stock repurchase progress, among which 1 company disclosed its repurchase plan for the first time, and 3 companies have completed their repurchases. NJTC plans to repurchase no more than 400 million yuan. The completed repurchase amounts for JSST, Keli, and EAST-ASIA PHARMACEUTICAL are 9.3214 million yuan, 5.4361 million yuan, and 1.326 million yuan, respectively. So far this year, a total of 1,407 repurchase plans have been implemented, involving 1,105 companies, with 255 companies having repurchase amounts exceeding 100 million yuan. China COSCO Shipping, Tongwei Co., Ltd., and Jiuan Medical have the highest repurchase amounts, at 2.146 billion yuan, 2.008 billion yuan, and 1.680 billion yuan, respectively

EAST-ASIA PHARMACEUTICAL

NJTC

JSST

Overview of A-share Stock Buybacks: Today, 4 Companies Disclosed Buyback Progress

Huajin Securities released a research report indicating that the six-dimensional force sensor market is accelerating its expansion, especially in the industrialization process of robotics, with a broad demand space. It is recommended to pay attention to companies that focus on cost reduction curves and breakthroughs in existing products, such as Lingyun Ind and Amperex. Six-dimensional force sensors are crucial in motion control and are suitable for complex scenarios, with the market expected to reach 14.442 billion yuan by 2030

Ampron

ANHUI ZHONGDING

Hangzhou Kelin

DongHua Test

Sinotec

HuaJin Securities: The six-dimensional force sensor market is accelerating its expansion, with both opportunities and challenges for domestic substitution

According to the Qichacha APP, recently, Taiyuan Huahong Intelligent Technology Co., Ltd. was established, with Wang Di as the legal representative and a registered capital of 3 million yuan. The business scope includes: sales of intelligent instruments and meters; sales of instruments and meters; sales of specialized equipment for geological exploration; sales of industrial automatic control system devices; industrial internet data services; internet data services, etc. Qichacha's equity penetration shows that the company is wholly owned by Fuzhou Huahong Intelligent Technology Co., Ltd., a subsidiary of Keli

Keli invests in the establishment of a smart technology company

Keli announced that the operating revenue for 2024 is 1.295 billion yuan, a year-on-year increase of 20.79%. The net profit attributable to shareholders of the listed company is 261 million yuan, a year-on-year decrease of 16.62%. The company plans to distribute a cash dividend of 2.78 yuan for every 10 shares to all shareholders

Keli: Net profit of 261 million yuan in 2024, a year-on-year decrease of 16.62%

Keli(603662.SH)