1029 lines
58 KiB
HTML
1029 lines
58 KiB
HTML
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<!DOCTYPE html>
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<html lang="zh-CN">
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<head>
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<meta charset="UTF-8">
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<meta name="viewport" content="width=device-width, initial-scale=1.0">
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<title>轴向磁通电机概念分析</title>
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<link href="https://cdn.jsdelivr.net/npm/bootstrap@5.3.0/dist/css/bootstrap.min.css" rel="stylesheet">
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<link rel="stylesheet" href="https://cdn.jsdelivr.net/npm/bootstrap-icons@1.11.0/font/bootstrap-icons.css">
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<style>
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:root {
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--primary-color: #0d6efd;
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--secondary-color: #6c757d;
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--success-color: #198754;
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--info-color: #0dcaf0;
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--warning-color: #ffc107;
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--danger-color: #dc3545;
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--light-color: #f8f9fa;
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--dark-color: #212529;
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}
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body {
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font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, sans-serif;
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background-color: #f5f7fa;
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color: #333;
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}
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.hero-section {
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background: linear-gradient(135deg, #1a2a6c, #2c3e50);
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color: white;
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padding: 3rem 0;
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margin-bottom: 2rem;
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}
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.card {
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border: none;
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border-radius: 12px;
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box-shadow: 0 4px 6px rgba(0, 0, 0, 0.05);
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transition: transform 0.3s ease, box-shadow 0.3s ease;
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margin-bottom: 1.5rem;
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overflow: hidden;
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}
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.card:hover {
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transform: translateY(-5px);
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box-shadow: 0 10px 20px rgba(0, 0, 0, 0.1);
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}
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.card-header {
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background-color: #f8f9fa;
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border-bottom: 1px solid rgba(0, 0, 0, 0.05);
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font-weight: 600;
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padding: 1rem 1.25rem;
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}
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.timeline {
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position: relative;
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padding-left: 30px;
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}
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.timeline::before {
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content: '';
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position: absolute;
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left: 0;
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top: 0;
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height: 100%;
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width: 2px;
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background: #0d6efd;
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}
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.timeline-item {
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position: relative;
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margin-bottom: 1.5rem;
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}
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.timeline-item::before {
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content: '';
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position: absolute;
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left: -34px;
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top: 5px;
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height: 12px;
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width: 12px;
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border-radius: 50%;
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background: #0d6efd;
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border: 2px solid white;
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}
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.timeline-date {
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font-weight: 600;
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color: #0d6efd;
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}
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.table-responsive {
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border-radius: 8px;
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overflow: hidden;
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}
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.table {
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margin-bottom: 0;
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}
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.table thead th {
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background-color: #0d6efd;
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color: white;
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border: none;
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font-weight: 600;
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text-align: center;
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}
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.table tbody tr:nth-of-type(odd) {
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background-color: rgba(13, 110, 253, 0.05);
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}
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.table tbody td {
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vertical-align: middle;
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border-color: #e9ecef;
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}
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.badge {
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font-size: 0.75rem;
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padding: 0.35em 0.65em;
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}
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.nav-pills .nav-link {
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border-radius: 8px;
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margin-right: 0.5rem;
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margin-bottom: 0.5rem;
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color: #495057;
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background-color: #e9ecef;
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}
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.nav-pills .nav-link.active {
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background-color: #0d6efd;
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}
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.highlight-box {
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background-color: rgba(13, 110, 253, 0.1);
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border-left: 4px solid #0d6efd;
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padding: 1rem;
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margin: 1rem 0;
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border-radius: 0 8px 8px 0;
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}
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.risk-level-high {
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color: #dc3545;
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}
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.risk-level-medium {
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color: #fd7e14;
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}
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.risk-level-low {
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color: #198754;
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}
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.tech-advantage {
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display: flex;
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align-items: center;
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margin-bottom: 0.75rem;
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}
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.tech-advantage i {
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color: #0d6efd;
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margin-right: 0.5rem;
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}
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.industry-chain {
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display: flex;
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flex-wrap: wrap;
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gap: 1rem;
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margin-top: 1rem;
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}
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.chain-segment {
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flex: 1;
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min-width: 200px;
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background-color: #f8f9fa;
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border-radius: 8px;
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padding: 1rem;
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}
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.chain-segment h5 {
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color: #0d6efd;
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margin-bottom: 0.75rem;
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font-size: 1.1rem;
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}
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.company-tag {
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display: inline-block;
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background-color: #e9ecef;
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color: #495057;
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padding: 0.25rem 0.5rem;
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border-radius: 4px;
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margin: 0.25rem;
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font-size: 0.875rem;
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}
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@media (max-width: 768px) {
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.hero-section {
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padding: 2rem 0;
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}
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.timeline {
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padding-left: 20px;
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}
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.timeline-item::before {
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left: -24px;
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}
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.table {
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font-size: 0.875rem;
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}
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.industry-chain {
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flex-direction: column;
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}
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}
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</style>
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</head>
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<body>
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<!-- Hero Section -->
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<div class="hero-section">
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<div class="container">
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<div class="row align-items-center">
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<div class="col-lg-8">
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<h1 class="display-5 fw-bold mb-3">轴向磁通电机概念分析</h1>
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<p class="lead mb-0">从技术突破到商业化：新兴电机技术在人形机器人领域的应用前景</p>
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</div>
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<div class="col-lg-4 text-lg-end mt-3 mt-lg-0">
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<div class="d-flex align-items-center justify-content-lg-end">
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<i class="bi bi-lightning-charge-fill fs-1 me-2"></i>
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<div>
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<div class="fs-4 fw-bold">30nm/kg</div>
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<div class="small">扭矩密度</div>
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</div>
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</div>
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</div>
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</div>
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</div>
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</div>
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<div class="container mb-5">
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<!-- Navigation Pills -->
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<ul class="nav nav-pills mb-4" id="conceptTabs" role="tablist">
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<li class="nav-item" role="presentation">
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<button class="nav-link active" id="overview-tab" data-bs-toggle="pill" data-bs-target="#overview" type="button" role="tab" aria-controls="overview" aria-selected="true">概念概述</button>
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</li>
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<li class="nav-item" role="presentation">
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<button class="nav-link" id="logic-tab" data-bs-toggle="pill" data-bs-target="#logic" type="button" role="tab" aria-controls="logic" aria-selected="false">核心逻辑</button>
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</li>
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<li class="nav-item" role="presentation">
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<button class="nav-link" id="catalyst-tab" data-bs-toggle="pill" data-bs-target="#catalyst" type="button" role="tab" aria-controls="catalyst" aria-selected="false">催化剂</button>
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</li>
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<li class="nav-item" role="presentation">
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<button class="nav-link" id="industry-tab" data-bs-toggle="pill" data-bs-target="#industry" type="button" role="tab" aria-controls="industry" aria-selected="false">产业链</button>
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</li>
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<li class="nav-item" role="presentation">
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<button class="nav-link" id="risk-tab" data-bs-toggle="pill" data-bs-target="#risk" type="button" role="tab" aria-controls="risk" aria-selected="false">风险挑战</button>
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</li>
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<li class="nav-item" role="presentation">
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<button class="nav-link" id="conclusion-tab" data-bs-toggle="pill" data-bs-target="#conclusion" type="button" role="tab" aria-controls="conclusion" aria-selected="false">投资启示</button>
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</li>
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<li class="nav-item" role="presentation">
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<button class="nav-link" id="stocks-tab" data-bs-toggle="pill" data-bs-target="#stocks" type="button" role="tab" aria-controls="stocks" aria-selected="false">股票数据</button>
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</li>
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</ul>
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<!-- Tab Content -->
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<div class="tab-content" id="conceptTabContent">
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<!-- 概念概述 -->
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<div class="tab-pane fade show active" id="overview" role="tabpanel" aria-labelledby="overview-tab">
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<div class="row">
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<div class="col-lg-6">
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<div class="card">
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<div class="card-header">
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<h5 class="mb-0"><i class="bi bi-calendar3 me-2"></i>概念事件时间轴</h5>
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</div>
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<div class="card-body">
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<div class="timeline">
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<div class="timeline-item">
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<div class="timeline-date">2025年3月24日</div>
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<div>比亚迪路演提及轴向磁通电机是未来5-10年内可能获得更多应用的新型电机技术</div>
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</div>
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<div class="timeline-item">
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<div class="timeline-date">2025年5月7日</div>
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<div>东睦股份路演详细介绍通过参股深圳小象电动(持股22%)布局轴向磁通电机领域</div>
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</div>
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<div class="timeline-item">
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<div class="timeline-date">2025年7月27日</div>
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<div>路演报告对轴向磁通电机技术进行全面分析，包括基本原理、核心优势及产业挑战</div>
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</div>
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<div class="timeline-item">
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<div class="timeline-date">2025年8月10日</div>
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<div>路展报告指出电机仍以传统方案为主，但已有厂商展示轴向磁通电机技术</div>
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</div>
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<div class="timeline-item">
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<div class="timeline-date">2025年8月15-20日</div>
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<div>申万机器人连续发布多篇研报看好PCB轴向磁通电机，强调其轻量化优势</div>
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</div>
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<div class="timeline-item">
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<div class="timeline-date">2025年9月14日</div>
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<div>机构研报指出特斯拉人形机器人全身28个关节，轴向磁通电机扭矩密度可达30nm/kg</div>
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</div>
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</div>
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</div>
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</div>
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</div>
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<div class="col-lg-6">
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<div class="card">
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<div class="card-header">
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<h5 class="mb-0"><i class="bi bi-lightbulb me-2"></i>核心观点摘要</h5>
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</div>
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<div class="card-body">
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<div class="highlight-box">
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<p class="mb-0">轴向磁通电机概念目前处于技术突破向商业化过渡的早期阶段，核心驱动力来自于人形机器人等新兴应用场景对高性能电机的需求。</p>
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</div>
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<p>该技术凭借其在扭矩密度、功率密度和轻量化方面的显著优势，有望成为未来机器人关节驱动的重要技术路线，但短期内仍面临制造工艺复杂、成本较高等挑战，市场预期可能过于乐观。</p>
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<div class="d-flex justify-content-between mt-3">
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<div class="text-center">
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<div class="fs-3 fw-bold text-primary">30nm/kg</div>
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<div class="small text-muted">扭矩密度</div>
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</div>
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<div class="text-center">
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<div class="fs-3 fw-bold text-primary">50%</div>
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<div class="small text-muted">重量减轻</div>
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</div>
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<div class="text-center">
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<div class="fs-3 fw-bold text-primary">96%+</div>
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<div class="small text-muted">效率</div>
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</div>
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</div>
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</div>
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</div>
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<div class="card">
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<div class="card-header">
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<h5 class="mb-0"><i class="bi bi-info-circle me-2"></i>技术背景</h5>
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</div>
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<div class="card-body">
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<p>轴向磁通电机是一种磁场方向与旋转轴平行的电机形式，与传统径向电机（磁场方向与旋转轴垂直）不同。它具有盘式结构，可支持多种形式：单定子单转子、单定子双转子、双定子双转子等。</p>
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<p>近期该概念获得市场关注主要源于其在人形机器人领域的应用潜力，特别是PCB轴向磁通电机（用印刷电路板作为定子的轴向磁通电机）被认为是机器人上肢、灵巧手的潜在解决方案。</p>
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</div>
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</div>
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</div>
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</div>
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</div>
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<!-- 核心逻辑 -->
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<div class="tab-pane fade" id="logic" role="tabpanel" aria-labelledby="logic-tab">
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<div class="card">
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<div class="card-header">
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<h5 class="mb-0"><i class="bi bi-rocket-takeoff me-2"></i>核心驱动力</h5>
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</div>
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<div class="card-body">
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<div class="row">
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<div class="col-md-4">
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<h6 class="text-primary">技术优势驱动</h6>
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<div class="tech-advantage">
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<i class="bi bi-check-circle-fill"></i>
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<div>扭矩密度达160Nm/L，是传统电机的4倍</div>
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||
</div>
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<div class="tech-advantage">
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||
<i class="bi bi-check-circle-fill"></i>
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||
<div>功率密度达14.9kW/kg</div>
|
||
</div>
|
||
<div class="tech-advantage">
|
||
<i class="bi bi-check-circle-fill"></i>
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||
<div>效率通常超过96%</div>
|
||
</div>
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||
<div class="tech-advantage">
|
||
<i class="bi bi-check-circle-fill"></i>
|
||
<div>PCB轴向磁通电机铜用量减少66%</div>
|
||
</div>
|
||
</div>
|
||
<div class="col-md-4">
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||
<h6 class="text-primary">应用场景拓展</h6>
|
||
<div class="tech-advantage">
|
||
<i class="bi bi-check-circle-fill"></i>
|
||
<div>从汽车、航空航天延伸至机器人领域</div>
|
||
</div>
|
||
<div class="tech-advantage">
|
||
<i class="bi bi-check-circle-fill"></i>
|
||
<div>满足高扭矩密度、快速响应需求</div>
|
||
</div>
|
||
<div class="tech-advantage">
|
||
<i class="bi bi-check-circle-fill"></i>
|
||
<div>适合人形机器人关节驱动</div>
|
||
</div>
|
||
<div class="tech-advantage">
|
||
<i class="bi bi-check-circle-fill"></i>
|
||
<div>传统电机技术突破空间有限</div>
|
||
</div>
|
||
</div>
|
||
<div class="col-md-4">
|
||
<h6 class="text-primary">产业链布局加速</h6>
|
||
<div class="tech-advantage">
|
||
<i class="bi bi-check-circle-fill"></i>
|
||
<div>多家上市公司已开始布局</div>
|
||
</div>
|
||
<div class="tech-advantage">
|
||
<i class="bi bi-check-circle-fill"></i>
|
||
<div>东睦股份参股深圳小象电动</div>
|
||
</div>
|
||
<div class="tech-advantage">
|
||
<i class="bi bi-check-circle-fill"></i>
|
||
<div>形成从技术到量产的协同生态</div>
|
||
</div>
|
||
<div class="tech-advantage">
|
||
<i class="bi bi-check-circle-fill"></i>
|
||
<div>材料、制造、应用全链条布局</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="row mt-4">
|
||
<div class="col-md-6">
|
||
<div class="card">
|
||
<div class="card-header">
|
||
<h5 class="mb-0"><i class="bi bi-thermometer-half me-2"></i>市场热度与情绪</h5>
|
||
</div>
|
||
<div class="card-body">
|
||
<p>从新闻和研报数据来看，市场对轴向磁通电机概念的关注度在2025年8月至9月期间显著提升，特别是申万机器人连续发布多篇研报看好PCB轴向磁通电机，市场情绪整体偏向乐观。</p>
|
||
<div class="alert alert-warning d-flex align-items-center" role="alert">
|
||
<i class="bi bi-exclamation-triangle-fill me-2"></i>
|
||
<div>然而，行业内部对轴向磁通电机的态度相对谨慎，认为技术尚未成熟，商业化仍面临挑战。</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
<div class="col-md-6">
|
||
<div class="card">
|
||
<div class="card-header">
|
||
<h5 class="mb-0"><i class="bi bi-graph-up-arrow me-2"></i>预期差分析</h5>
|
||
</div>
|
||
<div class="card-body">
|
||
<h6 class="text-danger">技术成熟度预期差</h6>
|
||
<p>研报强调技术优势，但路演显示仍面临气隙控制、定子铁芯制造等挑战。</p>
|
||
|
||
<h6 class="text-danger">商业化进程预期差</h6>
|
||
<p>研报乐观预期应用前景，但实际尚未在人形机器人上有应用，主要在军用和机器狗领域。</p>
|
||
|
||
<h6 class="text-danger">市场认知预期差</h6>
|
||
<p>市场可能过于关注技术优势，忽略商业化挑战，高估替代速度。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 催化剂 -->
|
||
<div class="tab-pane fade" id="catalyst" role="tabpanel" aria-labelledby="catalyst-tab">
|
||
<div class="row">
|
||
<div class="col-lg-6">
|
||
<div class="card">
|
||
<div class="card-header">
|
||
<h5 class="mb-0"><i class="bi bi-bolt me-2"></i>近期催化剂</h5>
|
||
</div>
|
||
<div class="card-body">
|
||
<div class="d-flex align-items-start mb-3">
|
||
<div class="bg-primary text-white rounded-circle d-flex align-items-center justify-content-center me-3" style="width: 36px; height: 36px; flex-shrink: 0;">
|
||
<i class="bi bi-1"></i>
|
||
</div>
|
||
<div>
|
||
<h6 class="mb-1">特斯拉人形机器人进展</h6>
|
||
<p class="mb-0 small">特斯拉人形机器人全身28个关节，如果宣布采用轴向磁通电机，将极大推动概念发展</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="d-flex align-items-start mb-3">
|
||
<div class="bg-primary text-white rounded-circle d-flex align-items-center justify-content-center me-3" style="width: 36px; height: 36px; flex-shrink: 0;">
|
||
<i class="bi bi-2"></i>
|
||
</div>
|
||
<div>
|
||
<h6 class="mb-1">相关公司技术突破</h6>
|
||
<p class="mb-0 small">东睦股份参股的小象电机、卧龙电驱、明阳电路等公司的技术进展和产品发布</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="d-flex align-items-start">
|
||
<div class="bg-primary text-white rounded-circle d-flex align-items-center justify-content-center me-3" style="width: 36px; height: 36px; flex-shrink: 0;">
|
||
<i class="bi bi-3"></i>
|
||
</div>
|
||
<div>
|
||
<h6 class="mb-1">行业展会或技术会议</h6>
|
||
<p class="mb-0 small">更多厂商展示轴向磁通电机在人形机器人上的实际应用，提升市场信心</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
<div class="col-lg-6">
|
||
<div class="card">
|
||
<div class="card-header">
|
||
<h5 class="mb-0"><i class="bi bi-signpost-2 me-2"></i>长期发展路径</h5>
|
||
</div>
|
||
<div class="card-body">
|
||
<div class="timeline">
|
||
<div class="timeline-item">
|
||
<div class="fw-bold">技术突破阶段（当前-2026年）</div>
|
||
<div class="small">解决制造工艺难题，开发新型材料，优化散热设计</div>
|
||
</div>
|
||
<div class="timeline-item">
|
||
<div class="fw-bold">初步应用阶段（2026-2028年）</div>
|
||
<div class="small">在高端应用领域率先商业化，如军用机器人、机器狗等</div>
|
||
</div>
|
||
<div class="timeline-item">
|
||
<div class="fw-bold">规模化应用阶段（2028-2030年）</div>
|
||
<div class="small">制造工艺成熟，成本大幅降低，拓展更多应用领域</div>
|
||
</div>
|
||
<div class="timeline-item">
|
||
<div class="fw-bold">成熟阶段（2030年以后）</div>
|
||
<div class="small">成为主流电机技术之一，在多个领域大规模商业化</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 产业链 -->
|
||
<div class="tab-pane fade" id="industry" role="tabpanel" aria-labelledby="industry-tab">
|
||
<div class="card">
|
||
<div class="card-header">
|
||
<h5 class="mb-0"><i class="bi bi-diagram-3 me-2"></i>产业链图谱</h5>
|
||
</div>
|
||
<div class="card-body">
|
||
<div class="industry-chain">
|
||
<div class="chain-segment">
|
||
<h5><i class="bi bi-arrow-up-circle-fill me-1"></i>上游</h5>
|
||
<div class="company-tag">铂科新材</div>
|
||
<div class="company-tag">宁波韵升</div>
|
||
<div class="company-tag">明阳电路</div>
|
||
<div class="company-tag">东睦股份</div>
|
||
<p class="small mt-2 mb-0">磁性材料、PCB制造、材料供应</p>
|
||
</div>
|
||
<div class="chain-segment">
|
||
<h5><i class="bi bi-dash-circle-fill me-1"></i>中游</h5>
|
||
<div class="company-tag">卧龙电驱</div>
|
||
<div class="company-tag">东睦股份</div>
|
||
<div class="company-tag">江苏雷利</div>
|
||
<div class="company-tag">大洋电机</div>
|
||
<div class="company-tag">信质集团</div>
|
||
<div class="company-tag">科达利</div>
|
||
<div class="company-tag">福达股份</div>
|
||
<div class="company-tag">易德龙</div>
|
||
<p class="small mt-2 mb-0">电机制造、组件制造、PCB轴向磁通电机</p>
|
||
</div>
|
||
<div class="chain-segment">
|
||
<h5><i class="bi bi-arrow-down-circle-fill me-1"></i>下游</h5>
|
||
<div class="company-tag">特斯拉</div>
|
||
<div class="company-tag">优必选</div>
|
||
<div class="company-tag">比亚迪</div>
|
||
<div class="company-tag">广汽</div>
|
||
<div class="company-tag">青龙</div>
|
||
<p class="small mt-2 mb-0">人形机器人、新能源汽车、机器狗、军用机构</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="card mt-4">
|
||
<div class="card-header">
|
||
<h5 class="mb-0"><i class="bi bi-people me-2"></i>核心玩家对比</h5>
|
||
</div>
|
||
<div class="card-body">
|
||
<div class="row">
|
||
<div class="col-md-6 mb-3">
|
||
<div class="card h-100 border-primary">
|
||
<div class="card-header bg-primary text-white">
|
||
<h6 class="mb-0">卧龙电驱</h6>
|
||
</div>
|
||
<div class="card-body">
|
||
<p class="small"><strong>竞争优势：</strong>综合性电机供应商，深厚积累，布局高扭矩密度轴向磁通电机</p>
|
||
<p class="small"><strong>业务进展：</strong>被申万机器人首推，表明在轴向磁通电机领域有一定优势</p>
|
||
<p class="small text-danger"><strong>潜在风险：</strong>轴向磁通电机可能只是众多业务之一，专注度不如专业公司</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
<div class="col-md-6 mb-3">
|
||
<div class="card h-100 border-success">
|
||
<div class="card-header bg-success text-white">
|
||
<h6 class="mb-0">东睦股份</h6>
|
||
</div>
|
||
<div class="card-body">
|
||
<p class="small"><strong>竞争优势：</strong>参股深圳小象电动(22%)，形成从技术到材料再到量产的协同生态</p>
|
||
<p class="small"><strong>业务进展：</strong>建设1000平方米生产线，对应3-5万套产能，主要对接军用机构</p>
|
||
<p class="small text-danger"><strong>潜在风险：</strong>轴向磁通电机业务占比可能较小，短期对业绩贡献有限</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
<div class="col-md-6 mb-3">
|
||
<div class="card h-100 border-info">
|
||
<div class="card-header bg-info text-white">
|
||
<h6 class="mb-0">明阳电路</h6>
|
||
</div>
|
||
<div class="card-body">
|
||
<p class="small"><strong>竞争优势：</strong>具备PCB全制程能力，专注小批量板，有机器人相关布局</p>
|
||
<p class="small"><strong>业务进展：</strong>19年开始布局PCB电机，与多家机器人和灵巧手客户验证中</p>
|
||
<p class="small text-danger"><strong>潜在风险：</strong>PCB轴向磁通电机技术尚不成熟，商业化进程存在不确定性</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
<div class="col-md-6 mb-3">
|
||
<div class="card h-100 border-warning">
|
||
<div class="card-header bg-warning text-dark">
|
||
<h6 class="mb-0">夏厦精密</h6>
|
||
</div>
|
||
<div class="card-body">
|
||
<p class="small"><strong>竞争优势：</strong>参投指尖智擎10%股份，后者推出微型轴向磁通关节模组</p>
|
||
<p class="small"><strong>业务进展：</strong>与蚂蚁、智元、宇树、CMU等公司供货送样</p>
|
||
<p class="small text-danger"><strong>潜在风险：</strong>投资比例较小，对业绩影响可能有限</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="card mt-4">
|
||
<div class="card-header">
|
||
<h5 class="mb-0"><i class="bi bi-shield-check me-2"></i>验证与证伪</h5>
|
||
</div>
|
||
<div class="card-body">
|
||
<div class="row">
|
||
<div class="col-md-4">
|
||
<h6 class="text-primary">技术优势验证</h6>
|
||
<p class="small">研报强调扭矩密度、功率密度和轻量化优势，技术上成立。但路演显示仍面临气隙控制、定子铁芯制造等挑战。</p>
|
||
</div>
|
||
<div class="col-md-4">
|
||
<h6 class="text-primary">商业化进程验证</h6>
|
||
<p class="small">研报对人形机器人应用前景乐观，但路演显示由于散热及量产问题，尚未在人形机器人上有实际应用。</p>
|
||
</div>
|
||
<div class="col-md-4">
|
||
<h6 class="text-primary">公司进展验证</h6>
|
||
<p class="small">研报提到多家公司布局，但大部分仍处于早期阶段，实际进展可能不如研报描述的那么乐观。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 风险挑战 -->
|
||
<div class="tab-pane fade" id="risk" role="tabpanel" aria-labelledby="risk-tab">
|
||
<div class="row">
|
||
<div class="col-lg-6">
|
||
<div class="card">
|
||
<div class="card-header bg-danger text-white">
|
||
<h5 class="mb-0"><i class="bi bi-exclamation-triangle me-2"></i>技术风险</h5>
|
||
</div>
|
||
<div class="card-body">
|
||
<div class="d-flex align-items-start mb-3">
|
||
<i class="bi bi-gear-fill text-danger me-2 mt-1"></i>
|
||
<div>
|
||
<h6 class="mb-1">制造工艺复杂</h6>
|
||
<p class="mb-0 small">气隙控制精度要求极高，平面气隙结构面积大于径向电机，需高端高精度数控机床，设备、工艺和材料与传统电机完全不同。</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="d-flex align-items-start mb-3">
|
||
<i class="bi bi-gear-fill text-danger me-2 mt-1"></i>
|
||
<div>
|
||
<h6 class="mb-1">定子铁芯制造困难</h6>
|
||
<p class="mb-0 small">需使用卷绕硅钢而非传统叠片硅钢，需要特制绕线机加工，生产效率低，绕组设计不灵活，设备水平不足。</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="d-flex align-items-start">
|
||
<i class="bi bi-gear-fill text-danger me-2 mt-1"></i>
|
||
<div>
|
||
<h6 class="mb-1">散热问题</h6>
|
||
<p class="mb-0 small">体积小的三明治结构拓扑，在持续高扭矩工况下会出现严重发热，是轴向磁通电机的一个重要劣势。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
<div class="col-lg-6">
|
||
<div class="card">
|
||
<div class="card-header bg-warning text-dark">
|
||
<h5 class="mb-0"><i class="bi bi-currency-exchange me-2"></i>商业化风险</h5>
|
||
</div>
|
||
<div class="card-body">
|
||
<div class="d-flex align-items-start mb-3">
|
||
<i class="bi bi-cash-stack text-warning me-2 mt-1"></i>
|
||
<div>
|
||
<h6 class="mb-1">成本高</h6>
|
||
<p class="mb-0 small">转子制造需碳纤维缠绕设备，工艺复杂；需使用高温永磁材料；专用绝缘材料和高精度轴承等辅料成本高。</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="d-flex align-items-start mb-3">
|
||
<i class="bi bi-cash-stack text-warning me-2 mt-1"></i>
|
||
<div>
|
||
<h6 class="mb-1">市场接受度不确定</h6>
|
||
<p class="mb-0 small">传统电机技术仍在不断改进，轴向磁通电机能否获得市场认可尚不确定；人形机器人等新兴应用场景的发展也存在不确定性。</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="d-flex align-items-start">
|
||
<i class="bi bi-cash-stack text-warning me-2 mt-1"></i>
|
||
<div>
|
||
<h6 class="mb-1">应用场景有限</h6>
|
||
<p class="mb-0 small">目前主要在军用机构领域和机器狗赛道中有应用，在人形机器人等更广泛的应用场景中尚未实现商业化。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="row mt-4">
|
||
<div class="col-lg-6">
|
||
<div class="card">
|
||
<div class="card-header bg-info text-white">
|
||
<h5 class="mb-0"><i class="bi bi-balance-scale me-2"></i>政策与竞争风险</h5>
|
||
</div>
|
||
<div class="card-body">
|
||
<div class="d-flex align-items-start mb-3">
|
||
<i class="bi bi-file-earmark-text text-info me-2 mt-1"></i>
|
||
<div>
|
||
<h6 class="mb-1">政策变动风险</h6>
|
||
<p class="mb-0 small">如果未来政策支持传统电机技术，或者对轴向磁通电机技术支持力度不够，可能影响其发展；稀土等原材料政策变动也可能影响成本和供应。</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="d-flex align-items-start">
|
||
<i class="bi bi-people text-info me-2 mt-1"></i>
|
||
<div>
|
||
<h6 class="mb-1">行业竞争加剧</h6>
|
||
<p class="mb-0 small">随着轴向磁通电机概念的升温，可能有更多企业进入该领域，导致竞争加剧；传统电机企业也在不断改进技术，可能形成竞争。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
<div class="col-lg-6">
|
||
<div class="card">
|
||
<div class="card-header bg-secondary text-white">
|
||
<h5 class="mb-0"><i class="bi bi-search me-2"></i>信息交叉验证风险</h5>
|
||
</div>
|
||
<div class="card-body">
|
||
<div class="d-flex align-items-start mb-3">
|
||
<i class="bi bi-exclamation-circle text-secondary me-2 mt-1"></i>
|
||
<div>
|
||
<h6 class="mb-1">技术成熟度矛盾</h6>
|
||
<p class="mb-0 small">研报强调技术优势，给人感觉技术已经相当成熟；但路演显示仍面临诸多技术挑战，如气隙控制精度要求极高、定子铁芯制造困难等。</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="d-flex align-items-start">
|
||
<i class="bi bi-exclamation-circle text-secondary me-2 mt-1"></i>
|
||
<div>
|
||
<h6 class="mb-1">商业化进程矛盾</h6>
|
||
<p class="mb-0 small">研报对应用前景非常乐观，似乎商业化就在眼前；但路演显示由于散热及量产问题，尚未在人形机器人上有实际应用。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 投资启示 -->
|
||
<div class="tab-pane fade" id="conclusion" role="tabpanel" aria-labelledby="conclusion-tab">
|
||
<div class="card">
|
||
<div class="card-header bg-primary text-white">
|
||
<h5 class="mb-0"><i class="bi bi-lightbulb me-2"></i>综合结论</h5>
|
||
</div>
|
||
<div class="card-body">
|
||
<div class="highlight-box">
|
||
<p class="mb-0">轴向磁通电机概念目前处于技术突破向商业化过渡的早期阶段，更偏向于主题炒作阶段，尚未进入基本面驱动阶段。虽然轴向磁通电机在扭矩密度、功率密度和轻量化方面具有显著优势，理论上非常适合人形机器人等新兴应用场景，但目前仍面临制造工艺复杂、成本高、散热问题等技术挑战，商业化进程可能比市场预期的要慢。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="card mt-4">
|
||
<div class="card-header">
|
||
<h5 class="mb-0"><i class="bi bi-star me-2"></i>最具投资价值的细分环节或方向</h5>
|
||
</div>
|
||
<div class="card-body">
|
||
<div class="row">
|
||
<div class="col-md-4">
|
||
<div class="card h-100 border-success">
|
||
<div class="card-body text-center">
|
||
<i class="bi bi-nut-fill text-success fs-1 mb-3"></i>
|
||
<h6>材料端降本方案</h6>
|
||
<p class="small">SMC粉末冶金技术是解决轴向磁通电机成本与制造瓶颈的关键方向，相关公司如东睦股份、铂科新材等值得关注。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
<div class="col-md-4">
|
||
<div class="card h-100 border-info">
|
||
<div class="card-body text-center">
|
||
<i class="bi bi-cpu text-info fs-1 mb-3"></i>
|
||
<h6>PCB轴向磁通电机</h6>
|
||
<p class="small">在轻量化、高效率方面优势突出，特别适用于机器人上肢、灵巧手等对重量敏感的部位，相关公司如明阳电路、易德龙等值得关注。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
<div class="col-md-4">
|
||
<div class="card h-100 border-warning">
|
||
<div class="card-body text-center">
|
||
<i class="bi bi-robot text-warning fs-1 mb-3"></i>
|
||
<h6>已实现商业化应用</h6>
|
||
<p class="small">在军用机构领域、机器狗赛道等已实现商业化应用的轴向磁通电机企业，如东睦股份参股的小象电机，可能率先受益。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="card mt-4">
|
||
<div class="card-header">
|
||
<h5 class="mb-0"><i class="bi bi-graph-up me-2"></i>需要重点跟踪和验证的关键指标</h5>
|
||
</div>
|
||
<div class="card-body">
|
||
<div class="row">
|
||
<div class="col-md-3">
|
||
<h6 class="text-primary">技术突破指标</h6>
|
||
<ul class="small">
|
||
<li>制造工艺改进情况</li>
|
||
<li>气隙控制精度提升</li>
|
||
<li>新型材料应用进展</li>
|
||
<li>散热技术改进情况</li>
|
||
</ul>
|
||
</div>
|
||
<div class="col-md-3">
|
||
<h6 class="text-primary">商业化指标</h6>
|
||
<ul class="small">
|
||
<li>各应用领域出货量</li>
|
||
<li>人形机器人领域应用</li>
|
||
<li>成本下降情况</li>
|
||
<li>业务收入占比</li>
|
||
</ul>
|
||
</div>
|
||
<div class="col-md-3">
|
||
<h6 class="text-primary">市场接受度指标</h6>
|
||
<ul class="small">
|
||
<li>下游客户接受度</li>
|
||
<li>市场份额变化</li>
|
||
<li>行业标准建立情况</li>
|
||
<li>替代传统电机速度</li>
|
||
</ul>
|
||
</div>
|
||
<div class="col-md-3">
|
||
<h6 class="text-primary">公司进展指标</h6>
|
||
<ul class="small">
|
||
<li>研发投入和专利</li>
|
||
<li>产品发布情况</li>
|
||
<li>与下游客户合作</li>
|
||
<li>订单获取情况</li>
|
||
</ul>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 股票数据 -->
|
||
<div class="tab-pane fade" id="stocks" role="tabpanel" aria-labelledby="stocks-tab">
|
||
<div class="card">
|
||
<div class="card-header">
|
||
<h5 class="mb-0"><i class="bi bi-table me-2"></i>轴向磁通电机概念股票数据</h5>
|
||
</div>
|
||
<div class="card-body p-0">
|
||
<div class="table-responsive">
|
||
<table class="table table-hover mb-0">
|
||
<thead>
|
||
<tr>
|
||
<th>股票名称</th>
|
||
<th>分类</th>
|
||
<th>行业</th>
|
||
<th>项目</th>
|
||
<th>理由</th>
|
||
<th>消息来源</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr>
|
||
<td><strong>卧龙电驱</strong></td>
|
||
<td><span class="badge bg-primary">产业链及配套</span></td>
|
||
<td>综合性电机供应商</td>
|
||
<td>轴向磁通电机</td>
|
||
<td>布局高扭矩密度轴向磁通电机，适配机器人关节驱动，优势包括扭矩密度高、效率提升、满足轻量化和高精度需求</td>
|
||
<td>券商纪要</td>
|
||
</tr>
|
||
<tr>
|
||
<td><strong>夏厦精密</strong></td>
|
||
<td><span class="badge bg-primary">产业链及配套</span></td>
|
||
<td>-</td>
|
||
<td>轴向磁通电机</td>
|
||
<td>参股指安智擎10%股份（未证实），后者推出微型轴向磁通关节模组和特微型空心杯电机</td>
|
||
<td>券商纪要</td>
|
||
</tr>
|
||
<tr>
|
||
<td><strong>科达利</strong></td>
|
||
<td><span class="badge bg-primary">产业链及配套</span></td>
|
||
<td>-</td>
|
||
<td>轴向磁通电机模组</td>
|
||
<td>25年4月发布轴向磁通电机模组方案，模组总质量降低40%，轴向尺寸缩减50%，功率密度提升3倍</td>
|
||
<td>券商纪要</td>
|
||
</tr>
|
||
<tr>
|
||
<td><strong>福达股份</strong></td>
|
||
<td><span class="badge bg-primary">产业链及配套</span></td>
|
||
<td>-</td>
|
||
<td>轴向磁通电机</td>
|
||
<td>参股公司长坂董和东南大学林明耀教授于25年8月成立扬州联擎，主打轴向磁通电机</td>
|
||
<td>券商纪要</td>
|
||
</tr>
|
||
<tr>
|
||
<td><strong>铂科新材</strong></td>
|
||
<td><span class="badge bg-primary">产业链及配套</span></td>
|
||
<td>合金软磁材料</td>
|
||
<td>轴向磁通电机</td>
|
||
<td>满足人形机器人高扭矩电机需求，在磁通电机应用有望成为第三成长曲线</td>
|
||
<td>券商纪要</td>
|
||
</tr>
|
||
<tr>
|
||
<td><strong>信质集团</strong></td>
|
||
<td><span class="badge bg-primary">产业链及配套</span></td>
|
||
<td>电机制造商</td>
|
||
<td>轴向磁通电机</td>
|
||
<td>轴向磁通电机为成熟产品，直径覆盖几十-1000mm，已给H客户送样测试，非机器人领域已有应用</td>
|
||
<td>券商纪要</td>
|
||
</tr>
|
||
<tr>
|
||
<td><strong>大洋电机</strong></td>
|
||
<td><span class="badge bg-primary">产业链及配套</span></td>
|
||
<td>电机制造商</td>
|
||
<td>轴向磁通电机</td>
|
||
<td>已取得印刷绕组轴向磁通电机专利，采用非晶材料定子芯，功率密度较传统方案提升30%</td>
|
||
<td>网络纪要</td>
|
||
</tr>
|
||
<tr>
|
||
<td><strong>江苏雷利</strong></td>
|
||
<td><span class="badge bg-primary">产业链及配套</span></td>
|
||
<td>电机制造商</td>
|
||
<td>轴向磁通电机</td>
|
||
<td>2025年3月战略投资仪坤动力，其轴向磁通电机通过结构优化实现比传统径向电机更高的功率密度与工作效率</td>
|
||
<td>互动</td>
|
||
</tr>
|
||
<tr>
|
||
<td><strong>宁波韵升</strong></td>
|
||
<td><span class="badge bg-primary">产业链及配套</span></td>
|
||
<td>编码器制造商</td>
|
||
<td>轴向磁通电机编码器</td>
|
||
<td>申请轴向磁通电机编码器结构专利，集成度高，安装方便，所占空间小</td>
|
||
<td>知识产权局</td>
|
||
</tr>
|
||
<tr>
|
||
<td><strong>东睦股份</strong></td>
|
||
<td><span class="badge bg-primary">产业链及配套</span></td>
|
||
<td>电机制造商</td>
|
||
<td>轴向磁通电机</td>
|
||
<td>间接持有小象电机17.6%股份，后者深耕轴向磁通电机领域，技术工艺领先</td>
|
||
<td>券商纪要/工商</td>
|
||
</tr>
|
||
<tr>
|
||
<td><strong>易德龙</strong></td>
|
||
<td><span class="badge bg-primary">产业链及配套</span></td>
|
||
<td>PCBA制造商</td>
|
||
<td>PCB轴向磁通电机</td>
|
||
<td>基于PCBA技术积累开发了PCB轴向磁通电机</td>
|
||
<td>网络纪要</td>
|
||
</tr>
|
||
<tr>
|
||
<td><strong>明阳电路</strong></td>
|
||
<td><span class="badge bg-primary">产业链及配套</span></td>
|
||
<td>PCB制造商</td>
|
||
<td>轴向磁通电机</td>
|
||
<td>具备PCB全制程能力，专注小批量板，有机器人领域布局</td>
|
||
<td>网络纪要</td>
|
||
</tr>
|
||
<tr>
|
||
<td><strong>方正电机</strong></td>
|
||
<td><span class="badge bg-secondary">弱关联</span></td>
|
||
<td>电机制造商</td>
|
||
<td>轴向磁通电机</td>
|
||
<td>布局处于初步阶段，暂无明确技术路线或量产能力</td>
|
||
<td>网络纪要/公开信息</td>
|
||
</tr>
|
||
<tr>
|
||
<td><strong>京泉华</strong></td>
|
||
<td><span class="badge bg-secondary">弱关联</span></td>
|
||
<td>磁性元器件</td>
|
||
<td>轴向磁通电机</td>
|
||
<td>与轴向磁通电机关联性较弱，主营传统磁性元器件及电源类产品</td>
|
||
<td>网络纪要/公开信息</td>
|
||
</tr>
|
||
<tr>
|
||
<td><strong>云意电气</strong></td>
|
||
<td><span class="badge bg-secondary">弱关联</span></td>
|
||
<td>汽车电子</td>
|
||
<td>轴向磁通电机</td>
|
||
<td>正在与国际PCB直驱电机领域院士级专家团队开展技术交流</td>
|
||
<td>券商纪要</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<footer class="bg-dark text-white py-4 mt-5">
|
||
<div class="container">
|
||
<div class="row">
|
||
<div class="col-md-6">
|
||
<h6>轴向磁通电机概念分析</h6>
|
||
<p class="small mb-0">本页面内容基于公开信息整理，不构成投资建议</p>
|
||
</div>
|
||
<div class="col-md-6 text-md-end">
|
||
<p class="small mb-0">数据更新时间：2025年9月</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</footer>
|
||
|
||
<script src="https://cdn.jsdelivr.net/npm/bootstrap@5.3.0/dist/js/bootstrap.bundle.min.js"></script>
|
||
</body>
|
||
</html>
|