Shuanglin Co., Ltd. 2025 Annual Report Released, Anchoring the "14th Five-Year Plan" New Quality of Productivity, Using Intelligent Transmission to Drive the High-End Manufacturing Transformation

On the evening of March 24, Shuanglin Shares (300100.SZ) released its 2025 annual report, showing that during the reporting period, the company achieved operating revenue of RMB 5.484 billion, up 11.67% year over year; at the same time, it achieved non-recurring profit after deducting losses and gains of RMB 446 million, up 36.63% year over year. In 2025, the company maintained solid growth of its core operating fundamentals in a complex market environment, and with a forward-looking technology layout, it systematically entered key national-strategy-focused areas such as humanoid robots and intelligent drive axles, demonstrating a clear trajectory and steadfast steps in its transformation from a traditional auto parts manufacturer to a provider of intelligent transmission and drive system solutions.

Solid main-business fundamentals and global operations build earnings resilience

In 2025, the global automotive industry continued to face pressure during its transformation. According to data from the China Association of Automobile Manufacturers, competition in the domestic market has become increasingly intense, and parts companies generally face a dual challenge of costs and pricing. Against this backdrop, Shuanglin Shares, leveraging its technical accumulation in precision transmission and its capabilities in global operations, delivered steady growth in its main business. Throughout the year, the company’s operating revenue and net profit maintained steady growth. In the period of industry adjustment, its gross margin demonstrated strong resilience. Especially in its businesses related to new-energy e-drives, as well as interior/exterior trim and electromechanical components, the company increased revenue through continued expansion, reduced costs and improved efficiency, and achieved year-over-year growth in gross margin.

Steady performance is driven by the company’s sustained leading position and breakthroughs in core sub-segments. In the field of automotive intelligent cockpit actuators, Shuanglin Shares’ seat horizontal drive motor (HDM) products hold a stable share in the global market, and have already become one of the largest domestic producers and sellers of seat horizontal drive motors. In the wheel hub bearing segment, its subsidiary Hubei Shuanglin Bearings, a national-level “single champion” manufacturing enterprise, has continuously supported mainstream new-energy vehicle makers such as BYD, Changan, NIO, and Seres, and has successfully expanded into high-end brand projects including AITO and Zeekr. Among them, the AITO M8 and Dongfeng Nissan N7 projects entered production within 2025, laying a foundation for the company’s future growth in sales.

In addition to steady development across various businesses, the company’s global strategy made substantive progress in 2025. The commissioning of its manufacturing base in Thailand and localized supporting capabilities not only represent a key move to hedge geopolitical risk and stay close to regional markets, but also marks the evolution of its supply chain system from a “China manufacturing, global sales” model to a “global manufacturing, local services” model. This layout aligns with the development trend of regionalized supply chains in the global auto industry, enhancing its ability to serve international customers and improving business stability.

Forward layout of the “15th Five-Year Plan” key planned tracks, and technology synergy driving industrial upgrading

Recently, the “15th Five-Year Plan” clearly stated that future industries should be forward-planned. Among them, humanoid robots and intelligent connected vehicles are listed as key directions. According to a forecast by the High-Tech Robotics Industry Research Institute (GGII), by 2030, the global humanoid robot market size is expected to exceed one trillion yuan, and the Chinese market will become a core growth engine. At the same time, as wire-controlled chassis is an inevitable choice for intelligent driving, demand for its core module—the integrated e-drive steering angle module—will be quickly released as the adoption of Level 3 and above automated driving becomes more widespread.

Shuanglin Shares’ industrial upgrading path is precisely based on an assessment of the above trends and a deep integration with its own technological strengths. The company is not pursuing discrete business expansion; instead, it conducts systematic extension around the core technological main axis of “intelligent transmission and drive.”

In the humanoid robot field, the company uses the ball screw technology that shares the same origin as automotive seat horizontal drive motors (HDMs) and has successfully developed a reverse-type planetary roller screw. This component is the core of a linear joint and directly determines the robot’s motion accuracy, load capacity, and energy efficiency. Subsequently, through a strategic acquisition of Wuxi Kezhixin, the company integrated R&D and manufacturing capabilities for high-precision thread grinding machines, achieving end-to-end independent control from core process equipment to key components. This has effectively broken through long-standing overseas technology barriers and cost bottlenecks in this area.

In the intelligent chassis field, the company’s “distributed e-drive steering angle module” project in cooperation with the School of Vehicle and Mobility of Tsinghua University represents the industry’s technology frontier. By highly integrating functions such as driving, steering, braking, and suspension control into the inner side of the wheel, this technology provides the hardware foundation for achieving extremely flexible vehicle handling and digital chassis control. Its first industrialized application has been locked in a special-vehicle scenario—an ultra-large 240-ton-class pure-electric autonomous mining truck project. Engineering prototype truck manufacturing and verification have been completed, it is currently in trial operation, and the full system product is planned to be formally released and listed in the first half of 2026. In the passenger vehicle domain, the company has completed the design and development of three mainstream suspension architecture types, covering MacPherson, double wishbone, and multi-link, and has established deep cooperation with multiple domestic OEMs. It is accelerating the application of angle module technology in passenger vehicles, laying a technical foundation for future passenger-vehicle intelligent chassis to achieve high integration and high controllability.

Shuanglin Shares’ transformation is not only reflected in the product and technology levels, but is also a system-wide change from the inside out. This transformation is reflected in two core dimensions. On the production side, the company continues to advance digitalization and automation upgrades. By building smart factories, it improves manufacturing efficiency and product consistency, and establishes a digital operations system in which data-driven decision-making and algorithm-optimized process workflows are integrated. On the product side, what the company provides is no longer just basic components, but intelligent system units that integrate driving, control, and execution functions—from angle modules that meet advanced intelligent driving requirements, to joint modules and roller screws for enabling humanoid robots, and then to intelligent electro-controlled electric cylinders applied in construction machinery. The product matrix is comprehensively upgraded in the direction of forward-looking intelligence and systemic integration, forming a technical matrix that serves multiple categories of high-end equipment.

Shuanglin Shares’ development practice in 2025 shows that the transformation and upgrading of traditional manufacturing industries fundamentally lies in organized extension and breakthroughs, relying on existing technology accumulation, into industry chain segments that are guided by national strategies and offer higher added value. As the humanoid robot industry enters the commercial exploration stage, and as intelligent chassis technologies are gradually becoming more widely adopted, with the company’s technical reserves and capacity planning in the early stage, they are expected to be transformed into a new round of growth momentum. Looking ahead, Shuanglin Shares’ positioning has gone beyond being a single-component supplier. The company is committed to becoming a cross-scenario intelligent transmission and drive technology platform, providing a development sample that is worth learning from for enabling China’s manufacturing industry to enhance independent controllability and global competitiveness in the fields of high-end equipment and core foundational components.

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