Automotive Parts and Equipment

Lingyun Ind

Deep Research

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HSAI

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BOSCH

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TSLA

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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

Keli

Hanwei Electronics

XDLK

Tesla

XPeng

XPENG-W

Humanoid Robots: AI's Best Hope?

Lingyun Ind released FY2026 Q1 earnings on April 27 After-Market (BJT), actual revenue CNY 4.567 B, actual EPS CNY 0.13

Lingyun Ind released FY2025 annual earnings on April 27 After-Market BJT, actual revenue CNY 19.84 B (forecast CNY 20.12 B), actual EPS CNY 0.69 (forecast CNY 0.67)

Lingyun Ind released FY2025 Q4 earnings on April 27 After-Market (BJT), actual revenue CNY 5.766 B, actual EPS CNY 0.1991

Lingyun Ind to Release FY2026 Q1 Earnings on April 28 After-Market BJT

Lingyun Ind to Release FY2025 Earnings on April 28 After-Market (BJT), Forecast Revenue CNY 20.12 B, EPS CNY 0.67

Lingyun Ind released FY2025 9 Months Earnings on October 27 After-Market (BJT), with actual revenue of CNY 14.07 B and EPS of CNY 0.4898

Lingyun Ind released FY2025 Q3 earnings on October 27 After-Market BJT, actual revenue CNY 4.809 B, actual EPS CNY 0.1298

Lingyun Ind to Release FY2025 Q3 Earnings on October 28 After-Market (BJT)

Lingyun Ind released FY2025 Q2 earnings during market hours on August 25 (BJT), with actual revenue of CNY 4.922 B and EPS of CNY 0.1831

Lingyun Ind released FY2025 Semi-Annual earnings on August 25 During-Market (BJT), actual revenue CNY 9.261 B, actual EPS CNY 0.36

Lingyun Ind to Release FY2025 Semi-Annual Earnings on August 26, 2025 (BJT)

North China Lingyun Increases Holdings in Lingyun Stock by 2.607 Million Shares

TF Securities Recommends Buy Rating for Ling Yun Shares

LYSCNC Extends into Robotic Sensor Business

Lingyun Shares Acquires Utility Patent for Blade Battery Structure

Analysis of Lingyun Co's 2024 Annual Report and 2025Q1 Quarterly Report

Huansan Securities Gives Lingyun Co. a Buy Rating

Lingyun Ind released FY2024 annual earnings on April 28 After-Market (BJT), actual revenue CNY 18.84 B (forecast CNY 20.33 B), actual EPS CNY 0.5462 (forecast CNY 0.6153)

Lingyun Ind released FY2025 Q1 earnings on April 28 After-Market (BJT), actual revenue CNY 4.339 B, actual EPS CNY 0.23

Lingyun Ind released FY2024 Q4 earnings on April 28 After-Market BJT, actual revenue CNY 5.49 B, actual EPS CNY 0.1299

Lingyun Ind announced that its controlling shareholder, Dongfang Lingyun Industrial Group Co., Ltd., will cumulatively increase its holdings of the company's shares by 5.5534 million shares through centralized bidding from April 9, 2025, to September 30, 2025. After the capital reserve is converted into share capital, the total will be 6.3606 million shares, with an expenditure of approximately 80.0168 million yuan, accounting for 0.52% of the total share capital; its shareholding ratio, together with concerted actors, increased from 43.83% to 44.07%, and the increase plan has been completed

Zhitong

Lingyun Ind: The controlling shareholder's stake has increased to 44.07%

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Liquid-cooled servers opened strong, JTGROUP had a 4-day limit up, Chuanrun Co., Ltd. had a 2-day limit up, Lingyun Ind hit the limit up, and Runhe Materials, New Horizon, Yongtai Technology, Liyuan Information, and Hongfuhan followed suit. In terms of related ETFs, the Cloud Computing 50 ETF rose by 1.18%, with a transaction volume of 3.321 million yuan

JTGROUP

Liquid-cooled servers opened strong, JTGROUP achieved 4 consecutive limit-ups

Yuan Lingyun Ind announced that its controlling shareholder, Dongfang Lingyun Industrial Group Co., Ltd., plans to increase its holdings in the company within 6 months starting from April 9, 2025, with an increase amount not less than 80 million yuan and not more than 100 million yuan. As of July 8, 2025, Lingyun Group has cumulatively increased its holdings by 2,690,580 shares through the centralized bidding method on the Shanghai Stock Exchange, accounting for approximately 0.29% of the total share capital, with an increase amount of approximately 40.0558 million yuan, reaching 50% of the lower limit of the planned increase amount

Lingyun Ind: Controlling shareholder increases holdings by over 40 million yuan

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On June 9th, 26 listed companies had their restricted shares unlocked, with a total market value of approximately 24.793 billion yuan. The unlocked shares include Baosteel, CDXG, Lingyun Ind, among others, mainly consisting of restricted circulation shares for equity incentives. In addition, companies such as Keheng Co., Ltd. and Maihe Co., Ltd. have extended their restricted lock-up periods

Baosteel

CDXG

Kanhoo

TALKWEB

GIUSEPPE

LAO BAI GAN JIU

DELISI

CSI Solar

BYIS

HNTY

ZEYU

ZBOM

RXHT

Suntak

MH AUTO

Overview of the lifting of restrictions on the sale of A-shares by Zhitong | June 9

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

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Guosen Securities released a research report, focusing on investment opportunities in the humanoid robot field, predicting that the market size of six-dimensional force sensors will reach 13.8 billion yuan by 2030. Six-dimensional force sensors are core components of humanoid robots, with high value and high barriers, mainly used for perception and control. Companies with layouts in this field, such as Lingyun Ind and ANHUI ZHONGDING, are recommended. The technical routes of six-dimensional force sensors include strain type, capacitive type, etc., which have high design and process barriers

GUOSEN SECURITIES

Guotai Junan Securities: High-value and high-barrier core components of power control, domestic suppliers continue to make efforts

According to the Zhitong Finance APP, Lingyun Ind announced that it recently received a notification from Beifang Lingyun Industrial Group Co., Ltd. (referred to as "Lingyun Group") that Lingyun Group has obtained a "Loan Commitment Letter" issued by the Baoding Branch of Bank of China Co., Ltd. (referred to as "Bank of China Baoding Branch"). The Bank of China Baoding Branch intends to provide a loan limit of no more than RMB 90 million for Lingyun Group's plan to increase its shareholding in the company, with a loan term of no more than 3 years

BANK OF CHINA

Lingyun Ind's controlling shareholder received a commitment letter for a loan to increase holdings of no more than 90 million yuan

According to the announcement from Lingyun Ind, the controlling shareholder, Dongfang Lingyun Industrial Group Co., Ltd. (hereinafter referred to as "Lingyun Group"), intends to increase its shareholding in the company based on confidence in the company's future development prospects and recognition of its long-term investment value. Lingyun Group plans to increase its shareholding through the Shanghai Stock Exchange system via centralized bidding within 6 months from the date of the announcement, with an increase amount not less than 80 million yuan and not exceeding 100 million yuan

Lingyun Ind's controlling shareholder plans to increase its holdings in the company by 80 million to 100 million yuan

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On March 24th, 24 listed companies will have their restricted shares unlocked, with a total market value of approximately 12.804 billion yuan. The unlocking situation includes: SHREG (equity incentive, 1.6981 million shares), SOFE (equity incentive, 4.8391 million shares), NARI-TECH (equity incentive, 21,900 shares), Lingyun Ind (equity incentive, 9.1198 million shares), Aiko Solar (equity incentive, 165,400 shares), etc. For specific numbers and types of unlocked shares, please refer to the announcement

Lingyun Ind(600480.SH)