| 产品组合 | | --- | | 工业机器人 | 9.6% | | --- | --- | | 注塑机、配套设备 | 17.8% | | 数控机床 | 10.7% | | 自动化应用系统 | 16.7% | | 智能能源及环境管理 | 42.8% | | 系统 | | 公司基本信息 | 产业别 | | 机械设备 | | --- | --- | --- | | A 股价(2025/6/23) | | 31.97 | | 深证成指(2025/6/23) | | 10048.39 | | 股价 12 个月高/低 | | 43.5/9.37 | | 总发行股数(百万) | | 476.97 | | A 股数(百万) | | 337.69 | | A 市值(亿元) | | 107.96 | | 主要股东 | | 吴丰礼 | | | | (30.32%) | | 每股净值(元) | | 5.87 | | 股价/账面净值 | | 5.44 | | | 一个月 三个月 | 一年 | | 股价涨跌(%) | -6.2 | -0.2 166.6 | 2025 年 06 月 24 日 赵旭东 H70556@capital.co ...

Core Viewpoint - The company TuoSiDa (300607.SZ) has announced a third delay in the implementation of its convertible bond fundraising project, extending the deadline for the smart manufacturing overall solution R&D and industrialization project to December 31, 2025, primarily due to changes in the market economic environment and the need for product and technology adaptation [1][4][8]. Group 1: Project Delays - TuoSiDa's smart manufacturing project was initially set to be operational by March 31, 2023, but has faced multiple delays, with the first extension announced in March 2023 and the second in May 2024 [1][5][6]. - As of May 23, 2025, the project has seen a total investment of 232 million yuan, achieving a progress rate of 49.28% [2][7]. - The project has been impacted by external macroeconomic factors and the need for technological updates, leading to a cautious investment approach [8][9]. Group 2: Financial Performance - In 2024, TuoSiDa reported a significant revenue decline of 36.92%, with total revenue of 2.872 billion yuan and a net loss of 245 million yuan, marking the first loss since its listing in 2017 [2][3][9]. - The company's decision not to distribute profits in 2024 is also a first since its IPO, reflecting the financial strain [3][9]. - The decline in revenue is largely attributed to a substantial drop in the smart energy and environmental management system business, which saw a 54.22% decrease in revenue [9][10]. Group 3: Business Adjustments - TuoSiDa is undergoing a strategic transformation, focusing on product refinement and reducing project scope, which has led to a contraction in the smart energy and environmental management system business [9][10]. - Despite the challenges in the smart energy sector, other business segments, such as industrial robots and automation systems, have shown relative stability, with a revenue of 755 million yuan, albeit down 22.05% [9][10]. - The overall gross margin for the remaining business segments, excluding the smart energy sector, increased to 34.25%, indicating some resilience in other areas [10].

持续收缩"项目类"业务背景下，广东拓斯达科技股份有限公司（300607.SZ，以下简称"拓斯达"）迎 2012年以来首次亏损。 日前，拓斯达发布2024年年报及2025年第一季度报告显示，拓斯达营收净利均双降，且2024年度出现亏 损。 拓斯达将业绩下滑及亏损归因于其主动收缩"项目类"业务等。至少在2022年，拓斯达就将其智能能源及 环境管理系统业务归为"项目类"业务，并收缩相应业务规模。与之相对应的是，拓斯达表示将聚焦机器 人、注塑机、数控机床三大产品。 "公司'项目类'业务通常采取大客户模式，最明显的特点是订单金额高、容易形成较大规模，但标准化 程度较低，毛利率水平有限。"拓斯达方面近日在回复《中国经营报》记者采访时表示，近年来，新能 源持续的周期低谷迫使相关行业项目接单毛利压缩，部分客户因产能过剩、资金紧张等多种原因可能会 直接导致项目的验收及结算不及预期；同时，随着公司"产品类"业务稳步发展，产品竞争力、出货量及 盈利能力稳步提升，"项目类"业务导流价值逐步弱化。 因此，拓斯达表示，2022年年底，公司开始主动舍弃低毛利、高风险项目，控制接单规模，坚定推 进"聚焦产品、收缩项目"战略转型，向产品公司迈 ...