研报掘金丨华鑫证券：首予拓斯达“买入”评级，有望持续受益于行业高景气度

Core Viewpoint - The report from Huaxin Securities highlights that Tuosida operates in the industrial robot, CNC machine tool, and injection molding machine sectors, which are part of the national strategic emerging industries, benefiting from the "smart manufacturing equipment industry" policy support and the trend of manufacturing transformation and upgrading [1] Group 1: Industry Insights - The industrial robot penetration rate continues to increase against the backdrop of an aging population and rising automation demand [1] - The company is positioned as a "chain master" in the industrial robot industry chain in Guangdong Province, indicating a strong potential to benefit from the industry's high prosperity [1] Group 2: Company Performance - Tuosida's five-axis machine tool sales are expected to grow by 35% year-on-year in the first half of 2025, supported by ample orders and benefiting from the high-end equipment domestic substitution process [1] - The revenue from multi-joint robots has increased by 80.86%, reflecting strong demand and growth in the company's product offerings [1] - The company is experiencing continuous growth in its overseas business, driven by the significant release of high-end manufacturing demand [1] Group 3: Investment Rating - The report initiates coverage on the company with a "buy" investment rating, reflecting confidence in its growth prospects and market position [1]