研報掘金丨開源證券:濤濤車業Q2業績延續高增,維持“買入”評級
開源證券研報指出,濤濤車業2025Q2業績延續高增,向機器人/智能化領域拓展。分業務上看,預計2025Q2高爾夫球車延續Q1增長態勢,DENAGO高爾夫球車渠道經銷商數量從2024年年底的170家進一步增加至近300家,同時第二品牌和球場用高爾夫球車拓展亦在穩步推進中。海外產能方面,我們預計7月起公司東南亞產能將進一步提升。展望長期,公司作爲行業內少數東南亞/美國本土產能充足的企業,有望搶佔國內廠商訂單,行業內份額有望進一步提升。6月27日公司官宣首臺與K-Scale合作人形機器人樣機正式下線,人形機器人領域取得初步進展。展望後續,機器人領域構建智能化及智能製造基礎,建議關注後續智能化賦能下更多細分場景智能化產品的進展。公司爲高爾夫球車領域少數海外產能充足的企業,繼續看好高爾夫球車行業增長以及公司份額提升,關注機器人以及細分場景智能化產品進展,維持“買入”評級。
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