Fuliyuan Annual Revenue of 1.972 Billion Yuan Increases Over 50%, Plans to Issue Additional Shares Not Exceeding 1.022 Billion Yuan to layout Embodied AI

Changjiang Business Daily News ● Changjiang Business Reporter Jiang Chuya

Steady performance, Fulivang (688678.SH) makes a major private placement.

On the evening of March 17, Fulivang announced that the company plans to raise no more than 1.022 billion yuan (including this round) through a private placement, which will be used for the industrialization project of key metals for high-end manufacturing, the research and development of key metals for embodied intelligent robots, and to supplement working capital.

At the same time, Fulivang disclosed its 2025 annual report. The company achieved significant revenue growth driven by its main business in 3C consumer electronics, with operating income reaching 1.972 billion yuan, a year-on-year increase of 53.46%; net profit attributable to the parent was 55.21 million yuan, up 1.26% year-on-year.

Industry experts believe that Fulivang’s increased focus on the research and development of core components for embodied intelligent robots aligns with the trend of upgrading high-end manufacturing industries under new productive forces, which is expected to open up long-term development space.

3C Consumer Electronics Business Drives Rapid Growth

By 2025, Fulivang’s performance shows a trend of “high revenue growth and steady profitability.” The company achieved an annual operating income of 1.972 billion yuan, a substantial increase of 53.46% year-on-year; net profit attributable to the parent was 55.21 million yuan, up 1.26%; non-recurring net profit was 46.10 million yuan, up 19.68%.

The leap in revenue is mainly driven by the strong performance of the 3C consumer electronics segment, which saw a year-on-year increase of over 70% in revenue.

As a leading enterprise in China’s precision metal components industry, Fulivang’s products cover core categories such as precision springs, contact pieces, and connectors. With technological barriers and quality control, the company has successfully entered the supply chains of top global companies like BYD and Bosch, with a market share exceeding 80% in its niche field, building a customer barrier and technological moat that are difficult to replicate. Meanwhile, the company’s diversified business layout includes metal cutting materials and ultra-high-strength coil products, with revenue increasing over 180% year-on-year; automotive and electric tool businesses are also growing steadily, further enhancing the company’s resilience.

Entering 2026, the company’s growth momentum continues to release, with an expected first-quarter net profit attributable to the parent of 40 to 50 million yuan, a significant increase of 183.84% to 254.81% year-on-year.

Planning Private Placement to Accelerate Embodied Intelligent Robots

Building on the solid foundation of its main 3C consumer electronics business, Fulivang is accelerating its layout in the embodied intelligent robot sector.

On March 17, Fulivang disclosed a private placement plan of no more than 1.022 billion yuan. After deducting issuance costs, the net funds raised will be used for the industrialization project of key metals for high-end manufacturing, the research and development of key metals for embodied intelligent robots, and to supplement working capital.

The high-end manufacturing key metals industrialization project plans a total investment of 743 million yuan. Once completed, it will significantly improve the company’s production efficiency and response speed, also reserving sufficient capacity for the embodied intelligent robot business.

The research and development project for key metals of embodied intelligent robots plans a total investment of 72.88 million yuan, focusing on core components such as dexterous finger joint micro-screws and miniature precision reducers, conducting basic research and application development.

Currently, the company has achieved phased breakthroughs in this field: micro-screws have been delivered for sample verification to five leading robot clients, with performance indicators reaching industry-leading levels; products such as reducers, joint module components, and high-precision waveform springs have been mass-produced.

The implementation of this R&D project will further strengthen the company’s technological reserves, accelerate the transformation of core product results, help the company break through the localization bottleneck of high-end robot components, improve its robot product matrix, and enhance its core competitiveness in the embodied intelligent robot sector.

Editor: ZB