1. Overview
Ningbo Keli Sensor Technology Co., Ltd. (603662) was established in 1995 and is headquartered in Ningbo. It has invested in 27 holding companies and 11 affiliated companies in cities such as Shenzhen, Guangzhou, Fuzhou, Zhengzhou, Suzhou, and Chizhou, and was listed on the Shanghai Stock Exchange in 2019. The company mainly develops and produces various types of sensors and industrial IoT systems, providing multi-scenario application solutions. It is one of the largest manufacturers of steel sensors globally and a pioneer in the sensor industry; it is recognized as a national-level champion demonstration enterprise in manufacturing, a national-level enterprise technology center, a national intellectual property advantage enterprise, and a national-level “Double Innovation” platform in manufacturing, as well as a national-level maker space.
The company focuses on strain sensors and has gradually expanded into the fields of industrial IoT and robotic sensors, forming a diversified layout of “sensors + IoT + ecosystem.” It has established four major business segments: intelligent industrial measurement and control, smart logistics equipment, energy and environmental measurement equipment, and robotic sensors.
Currently, it has ventured into nearly twenty types of sensors, including weighing, optoelectronic, water quality, fiber optic temperature measurement, light curtains, gas, displacement, electrical quantity, temperature and humidity pressure, flow, 3D vision, laser ranging, vibration sensors, and multi-dimensional force sensors for robots. It has expanded into various industrial IoT application scenarios such as smart logistics, intelligent warehouses, mine exploration, construction machinery IoT, unattended operations, metallurgy and chemical industries, new energy automation equipment, and food automation production lines, establishing a system of industrial platforms including software development platforms, big data platforms, chip solution platforms, industrial brains, and industrial parks.
By 2025, the company aims to accelerate its extension into high value-added fields such as humanoid robots and inertial sensors through strategic investments and collaborations.
Keli Sensor (603662.SH)High-tech enterpriseTechnology-based small and medium-sized enterpriseManufacturing champion enterpriseEnterprise technology center
2. Company Establishment and Shareholding Structure
- Establishment Date: Established in 1995, listed in 2019, and will celebrate its 30th anniversary in 2025.。
- Shareholding Structure: As of June 2025, the actual controller, Ke Jiandong, holds 44.70% of the shares, Ningbo Senna Investment holds 6.92%, and the shareholding structure is stable. In July 2025, the company strategically invested in Wuxi Beimi Sensor to layout the MEMS technology field.
3. Main Business and Production Capacity
- Main Business:
- Sensors: Account for 52% of revenue, including nearly 20 types of sensors such as weighing, six-dimensional force, and optoelectronic sensors, with a domestic market share of over 20% for weighing sensors.。
- Industrial IoT: Provides solutions for smart logistics, mine exploration, etc., with the Keli Cloud platform connecting over 1,200 enterprises.
- Robotic Sensors: Six-dimensional force sensors have been used in humanoid robots from Huawei and UBTECH, with orders expected to exceed 200 million yuan by 2025.。
- Steel sensors have an annual production capacity of over 3 million units, making it the largest production line globally.
- In 2025, new MEMS sensor production capacity will be added, strengthening technical reserves through investment in Beimi Sensor.
4. Financial Status
- Revenue and Profit: In the first half of 2025, revenue reached 685 million yuan (up 23.4% year-on-year), with a net profit attributable to the parent company of 173 million yuan (up 47.93% year-on-year), and a gross profit margin of 44.04%.。
- Cash Flow: In 2024, the net operating cash flow exceeded 300 million yuan, supporting R&D and acquisitions.
- Capital Return: The ROIC for 2025 is 9.25%, slightly below the historical median of 10.8%.。
5. Upstream and Downstream Customers
- Upstream: Raw materials include chips and metal materials, with centralized procurement to control costs.
- Downstream:
- Weighing customers: Covering industries such as transportation, metallurgy, and ports.。
- Non-weighing customers: Focus on expanding into robotics and automotive manufacturing, collaborating with companies like Kepler and Huawei.。
6. Competitiveness Analysis
- Advantages:
- Leading technology: Six-dimensional force sensors have an accuracy of 0.02% FS and are certified by Germany’s TÜV.
- Ecological layout: Building a complete industrial chain of “sensors + IoT” through 27 subsidiaries.
- Inventory turnover days increased by 111 days, with a cash-to-short-term debt ratio of 0.17, requiring attention to liquidity pressure.
7. Recent Developments
- Strategic Cooperation: In February 2025, partnered with Kepler Robotics to provide core sensors for humanoid robots.。
- Investment and Acquisition: In July 2025, invested in Beimi Sensor to strengthen MEMS technology layout.
- Industrial Platform: Collaborating with the Shenzhen Guangming District government, planning to invest 200-300 million yuan annually to incubate leading sensor enterprises.
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