Zhong Guo Jing Ying Bao·2025-04-26 13:02Core Viewpoint - Guangdong Tosstar Technology Co., Ltd. reported its first loss since 2012, attributing the decline in revenue and net profit to the active contraction of its "project-based" business [2][4]. Business Performance - In 2024, Tosstar achieved revenue of 2.872 billion yuan, a year-on-year decrease of 36.92%, and a net profit of -245 million yuan, down 378.58% [4]. - The company's net profit for the first quarter of 2025 was 4 million yuan, a decline of 87.14% year-on-year, with revenue of 362 million yuan, down 63.83% [4][5]. Business Strategy - Tosstar has initiated a strategic shift to focus on product-based business, specifically in industrial robots, injection molding machines, and CNC machine tools, while reducing the scale of its project-based business [3][7]. - The company plans to further shrink its smart energy and environmental management systems business and gradually divest from related projects [6]. Revenue Breakdown - The smart energy and environmental management systems business saw a revenue decline of over 50% in 2024, significantly impacting overall profitability [4]. - In the first quarter of 2025, revenue from the smart energy and environmental management systems dropped by over 90% [5]. Product Performance - In 2024, Tosstar's industrial robot revenue increased by 12.50%, while CNC machine tool revenue decreased by 11.71% due to production constraints from facility relocation [8]. - The company reported a gross margin increase of 3.30 percentage points for its non-smart energy businesses, with a gross margin of 34.25% [7]. International Market - Despite overall revenue decline, Tosstar's overseas revenue grew by 19.48% in 2024, reaching approximately 601 million yuan, accounting for 20.92% of total revenue [10]. - The company has established new offices and technical centers in Vietnam, Mexico, and Indonesia to enhance service and product support in international markets [10]. Future Outlook - Tosstar anticipates that as its product lines for industrial robots, injection molding machines, and CNC machine tools expand, the proportion of product-based business will increase while project-based business will continue to decline [9].