On August 21st, Guangdong Tuosida Technology Co., Ltd. released its 2026 semi annual report. During the reporting period, the company achieved operating revenue1.288 billion yuanYear-on-year growth18.61%Net profit attributable to shareholders of the listed company104 million yuanYear-on-year growth262.99%Net profit attributable to shareholders after deducting non recurring gains and losses86.6912 million yuanYear-on-year growth324.37%Net cash flows generated from operating activities147 millionyuanYear-on-year growth238.40%.
Image source: Announcement from Topstar
From the overall business situation, Tuosida's main business scale increased in the first half of the year, and its revenue structure was adjusted.
The overall gross profit margin of the company was 31.12%, an increase of 1.69 percentage points year-on-year.The company stated that the main source of revenue growth comes from
Industrial robotsand
Automated application systems, CNC machine toolsand
Injection molding equipmentThree businesses; The profit growth is related to the increase in revenue from the three main businesses, the decline in the scale of low gross profit intelligent energy and environmental management system businesses, as well as the improvement in accounts receivable collection and the decrease in credit impairment losses year-on-year.
Image source: Tuosida Technology
The revenue of industrial robots and automation application systems was 707 million yuan, a year-on-year increase of 121.62%
Industrial robots and automation application systems are the largest revenue segment for Tuosida in the first half of 2026 and the main source of revenue growth for the company.
During the reporting period, the business achieved operating revenue707 million yuanYear-on-year growth121.62%Approximately accounting for the company's operating revenue54.90%The gross profit margin is30.75%A year-on-year decrease of 10.46 percentage points.
Tuosida stated that the revenue growth in the robotics and automation business is mainly due to the continuous improvement in the depth and breadth of cooperation between the company's automation application system business and top 3C customers, which has driven the growth of related business scale. The decrease in gross profit margin is mainly related to changes in business structure, with a significant increase in the proportion of revenue from automation application system business.
In terms of orders and delivery, in the first half of the year, Tuosida signed about 6800 industrial robots and shipped about 5500 units. Among them, the revenue of self-produced multi joint robots increased by 22.21% year-on-year, and the number of signed orders increased by 42.29% year-on-year. The company stated that with the improvement of product competitiveness, the effectiveness of the key customer strategy has been further demonstrated, and the advantages of related processes and applications have been strengthened.
From the data, the industrial robot and automation application system business has achieved rapid growth, but the increase in operating costs in this sector is higher than the increase in revenue. The semi annual report shows that the operating costs of this business increased by 161.02% year-on-year, higher than the 121.62% increase in operating revenue, resulting in a year-on-year decrease in gross profit margin. It is still worth paying attention to whether this sector can improve its product structure and profitability while maintaining scale growth in the future.
Injection molding equipment revenue of 258 million yuan, overseas market expansion drives business growth
Injection molding equipment is the main product line laid out by Topstar around plastic processing scenarios, includingInjection molding machine, injection molding supporting equipment and automatic feeding systemWait.
In the first half of 2026, the company's injection molding equipment business achieved operating income258 million yuanYear-on-year growth12.86%The gross profit margin is35.93%A year-on-year decrease of 4.98 percentage points.
Among them, the revenue from injection molding equipment and automatic feeding systems increased by 17.80% year-on-year. Tuosida stated that the growth of related businesses is mainly due to the optimization of sales strategies, the improvement of product quality, and the successful development of overseas markets.
However, due to fluctuations in commodity prices, the rise in prices of raw materials such as copper and aluminum has pushed up production costs; Combined with market competition factors, the comprehensive gross profit margin of injection molding equipment business decreased year-on-year.
From the perspective of regional income,Tuosida achieved a revenue of 427 million yuan in overseas markets in the first half of the year, a year-on-year increase of 28.20%; The gross profit margin of overseas business was 30.76%, an increase of 15.07 percentage points year-on-year.The growth of overseas revenue not only provides new market space for injection molding equipment and other products, but also puts higher demands on the company's overseas sales, delivery, and service capabilities.
The revenue of CNC machine tools increased by 27.60%, while the business of intelligent energy and environmental management systems continued to shrink
While developing industrial robots and injection molding equipment businesses, Tuosida continues to advance its CNC machine tool business and adjust its intelligent energy and environmental management system business in accordance with the "focus on products, shrink projects" strategy.
In the first half of 2026, the companyCNC machine tool businessRealize operating revenue209 million yuanYear-on-year growth27.60%The gross profit margin is23.72%A year-on-year decrease of 3.91 percentage points.
In terms of orders and delivery, the number of signed orders for CNC machine tools in the first half of the year was about 270, a year-on-year increase of about 34.34%; The shipment volume is about 200 units, a year-on-year increase of about 42.55%. Tuosida stated that the revenue growth of this business is mainly due to the significant increase in demand for processing parts related to humanoid robots; The decrease in gross profit margin is mainly due to a higher proportion of small CNC machine tools with relatively low gross profit margins being shipped.
According to the semi annual report, Tuosida CNC machine tool business mainly focuses on the research and production of advanced CNC equipment. Its main products are five axis linkage CNC machine tools, and it independently develops core components such as spindles, turntables, double pendulum milling heads, and power knife towers. The product application scenarios include civil aviation, automobiles, humanoid robots, semiconductors, and low altitude aircraft industries.
In contrast to the growth of the CNC machine tool business, the companyThe scale of intelligent energy and environmental management system business has significantly declinedDuring the reporting period, the business achieved a revenue of 69.7604 million yuan, a year-on-year decrease of 79.61%, with a gross profit margin of 15.90%, an increase of 6.96 percentage points year-on-year.
Tuosida stated that based on the strategy of "focusing on products and shrinking projects",The business operation team of intelligent energy and environmental management system has basically completed the divestment by 2025, and the revenue in the first half of 2026 is mainly generated by the delivery and settlement of previous orders.
From the changes in the two businesses, it can be seen that Topstar is further concentrating its business resources towards industrial robots, injection molding equipment, and CNC machine tools. However, while the revenue, order volume, and shipment volume of the CNC machine tool business have increased, the gross profit margin has decreased; The delivery and payment status of existing orders in the intelligent energy and environmental management system business may also continue to affect the company's asset and cash flow performance.
Improved operating cash flow, with a year-on-year increase of 35.10% in research and development investment
In the first half of 2026, the net cash flow generated by Tuosida's operating activities was RMB 147 million, a year-on-year increase of 238.40%. The company stated that the increase in operating cash flow was mainly due to a year-on-year increase in sales receipts.
As of June 30, 2026, the company's accounts receivable amounted to 928 million yuan, a decrease from 1.028 billion yuan at the end of 2025; The contract assets amounted to 417 million yuan, a decrease from 616 million yuan at the end of 2025. The company stated that the decrease in contract assets is mainly related to project settlement and payment collection. Despite the improvement in relevant data, accounts receivable at the end of the period still accounted for 15.80% of the company's total assets, and the collection situation remains an important indicator for observing its operating quality.
In terms of research and development, the company invested 74.8231 million yuan in R&D in the first half of the year, a year-on-year increase of 35.10%, mainly due to an increase in R&D salaries and prototype investment. During the same period, the company's sales expenses were 125 million yuan, a year-on-year increase of 34.30%; The management expenses amounted to 98.7699 million yuan, a year-on-year increase of 24.02%; The financial expenses amounted to 2.6157 million yuan, a year-on-year decrease of 55.64%.
It should be noted that the gross profit margins of Tostar's three main businesses have all decreased in the first half of the year. Among them, the gross profit margins of industrial robots and automation application systems, injection molding equipment, and CNC machine tools decreased by 10.46, 4.98, and 3.91 percentage points respectively year-on-year. The overall gross profit margin of the company has increased year-on-year, mainly due to the decline in the scale of low gross profit businesses and the adjustment of revenue structure, which does not mean that the profitability of all main businesses has increased synchronously.
According to the semi annual report, Topstar will not distribute cash dividends, bonus shares, or convert capital reserves into share capital for the first half of 2026. The company also reminds that in the future, it may still face risks such as macroeconomic fluctuations, downstream industry cycle changes, accounts receivable, product substitution and technology leakage, and talent shortage.
Overall,In the first half of 2026, Tuosida achieved growth in operating income, net profit attributable to shareholders, net profit after deducting non parent assets, and operating cash flow. The industrial robot and automation application system business became the main source of revenue growth, while the injection molding equipment and CNC machine tool business also maintained expansion. At the same time, the company adjusted its revenue structure by shrinking its intelligent energy and environmental management system business.
However, while the performance increased, the gross profit margins of the three main businesses all experienced varying degrees of decline. In the future, whether Tuosida can continue to improve the quality of robot business growth, promote the conversion of CNC machine tool orders, control the growth rate of expenses, and further improve the collection of accounts receivable will become the focus of observing the company's subsequent business performance.
Note: This article is compiled and published by Plastic Machinery Network (www.86pla. com), with sources including Guangdong Tuosida Technology Co., Ltd.'s 2026 Half Year Report and Juchao Information. The purpose of publishing this information on this website is to spread more information and is not related to the position of this website. And we solemnly remind all readers that this article is not intended as a reference or basis for any investment.
