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拓斯达20250822
2025-08-24 14:47
Summary of the Conference Call for TuoSiDa Company Overview - **Company**: TuoSiDa - **Date of Call**: August 22, 2025 Key Points Industry and Company Performance - **Overall Revenue**: TuoSiDa reported a revenue growth of 22.66% in the first half of the year, with a gross margin of 38.83% [2][3] - **Industrial Robotics Segment**: Revenue slightly increased, with a notable 80% growth in multi-joint robots, while automation systems contracted due to a focus on major clients [2][4] - **Injection Molding Segment**: Auxiliary machine revenue grew by 30%, while main injection machine revenue declined by 30%. Electric injection machines generated several tens of millions in revenue, with improved gross margins [2][5] - **CNC Machine Tool Segment**: Revenue increased by 83.74% year-on-year, with approximately 200 units sold, driven by orders from humanoid robot parts processing and aerospace sectors [2][5] - **Green Energy and Environmental Management Systems**: Revenue significantly decreased, with a 60% drop, as the company is gradually divesting from this segment [5] Financial Metrics - **Net Profit**: The net profit attributable to shareholders was 28 million, a decrease of about 20% year-on-year [3] - **Gross Margins**: Expected gross margins for 2025 are approximately 40% for industrial robots and automation, 27%-28% for CNC machines, and around 9% for green energy [11] Market Dynamics - **Competition in CNC Machine Tools**: The industry is highly competitive, with some companies offering zero down payment and leasing options. TuoSiDa has not adopted such strategies, leading to a decline in prices and gross margins [9] - **International Market Growth**: Significant growth in overseas markets, with revenue excluding green energy products increasing by over 90% [12] Future Outlook - **Sales Projections for Electric Injection Machines**: Expected sales for the first half of 2025 are several tens of millions, with full-year projections reaching several hundreds of millions [7] - **Automation Business Orders**: Orders are primarily driven by clients establishing overseas factories, particularly for new Apple product processes, with a positive market response anticipated for 2026 [8] Strategic Partnerships - **Collaboration with AI Companies**: No new developments with Huawei on core algorithms; however, a partnership with Zhipu AI has been established to develop humanoid robots using their AI models [10] Operational Insights - **Cash Flow**: Operating cash flow increased significantly due to reduced taxes and employee compensation [20] - **Inventory Management**: High inventory turnover days (320 days) may lead to potential impairment provisions in the second half of the year [21] R&D and Product Development - **New Product Launches**: A global open day event is scheduled for September 12, 2025, to showcase AI-integrated products, including humanoid robots [22][23] Challenges and Risks - **Green Energy Business**: The company is in the process of divesting from the green energy segment, which has been a significant drag on overall performance [5][18] - **Market Uncertainties**: The company is navigating strategic adjustments and external uncertainties, particularly related to the green energy business and accounts receivable pressures [17][18] Conclusion TuoSiDa is experiencing growth in several segments, particularly in industrial robotics and CNC machine tools, while facing challenges in the green energy sector. The company is strategically focusing on international markets and partnerships to enhance its product offerings and operational efficiency.
拓斯达全球研发总部基地正式启用 迈向智能装备新纪元
Cai Fu Zai Xian· 2025-08-13 09:02
Core Insights - The 2025 World Robot Conference highlights the strategic value of embodied intelligence, with the company, Tuosida, focusing on this field through the establishment of a global R&D headquarters [1][5] - Tuosida's recent strategic transformation involves a shift towards product-focused business, reducing low-margin project-based operations, and increasing the proportion of product business [2][5] Group 1: Business Transformation - Tuosida has actively reduced project-based business by 54.22% while increasing product business by over 15% year-on-year, leading to continuous growth in shipment and order volumes [2] - The company has achieved significant growth in its multi-joint robots, with over 2,000 units shipped and a revenue increase of 76.04% year-on-year [2] - The global R&D headquarters is equipped with high-standard laboratories, enhancing the company's technological innovation and sustainable development [2][6] Group 2: Product Development and Achievements - In Q1 2025, Tuosida's industrial robot revenue grew by 23.81%, with strong order backlogs and successful customer expansion [3] - The company showcased a new generation of intelligent robot control platforms at the Huawei Developer Conference, marking a significant advancement in integrating AI with robotics [3][6] - Tuosida's dual-arm robots demonstrated industry-leading performance in precision and responsiveness during a collaborative test with the China Industrial Internet Research Institute [3] Group 3: Market Opportunities and Future Outlook - The rapid development of embodied intelligence is expected to drive innovation in robotics and industrial upgrades, with government policies supporting the growth of a trillion-yuan industry by 2027 [5] - Tuosida is positioned as one of the few companies with a full industry chain layout in robotics, leveraging its expertise in control technology to enhance embodied intelligence applications [5][6] - The company aims to create a multi-dimensional driving system combining scenarios, data, and AI, facilitating the evolution of robots from mere execution to intelligent decision-making [6][7]
拓斯达阵痛:上市以来首亏,如何穿越周期?|上市莞企年报观察
Core Viewpoint - The company,拓斯达, reported a significant decline in revenue and net profit for 2024, marking its first loss since going public, primarily due to a drastic drop in its smart energy and environmental management systems business, while its core businesses in industrial robots and CNC machine tools showed strong growth [1][4][5]. Revenue and Profit Summary - In 2024, the company achieved revenue of 2.872 billion yuan, a year-on-year decline of 36.92%, and a net profit of -245 million yuan, indicating the first loss since its establishment [1]. - The smart energy and environmental management systems business saw a revenue drop of over 50%, significantly impacting overall profitability [4][5]. Business Performance Analysis - The company's automation application systems business declined by 33.74% due to strategic contraction, while self-produced multi-joint robots experienced a revenue increase of 76.04%, with total shipments exceeding 8,000 units [3][5]. - The industrial robot segment's revenue grew by 12.50%, with a gross margin increase of 3.93 percentage points, and the electric injection molding machine orders surged by 150% [5][6]. Strategic Transformation - The company is undergoing a strategic transformation by focusing on standardized, replicable core products and reducing low-margin, highly customized project-based businesses [3][4]. - The company plans to further shrink its project-based business and adjust subsidiary equity to reduce reliance on the smart energy and environmental management systems business [6][7]. Technological Advancements - The company is committed to developing embodied intelligence and integrating IT with operational technology, aiming to create a seamless connection between the physical and digital worlds [7][8]. - The new X5 motion control platform, which integrates with AI models, has been successfully implemented in the 3C industry, enhancing efficiency by 40% [7][8]. Future Outlook - The company aims to complete a closed-loop chain of "technical breakthroughs, scene implementation, and ecological construction" over the next decade, focusing on solving manufacturing pain points through product definition based on real scenarios [8]. - The first quarter of 2025 showed a continued positive trend, with product business revenue increasing by 8.87%, driven by strong demand in emerging industries [8].