拓普集团 - 2025 年第四季度业绩符合预期；聚焦海外业务、机器人与热管理系统

March 23, 2026 03:36 PM GMT Ningbo Tuopu Group Co Ltd | Asia Pacific M Update 4Q25 in Line; Focus on Overseas, Robotics, and Cooling Reaction to earnings Unchanged In-line Largely unchanged Impact to our thesis Financial results versus consensus Direction of next 12-month consensus EPS Source: Company data, Morgan Stanley Research 4Q25 in line: Tuopu's 4Q25 earnings grew 6% YoY and 21% QoQ to Rmb813mn, in line with preliminary earnings range of Rmb633-933mn. 4Q25 revenue supported by key clients: 4Q25 reven ...