TOSDA: Roadshow held on May 8th, with participation from Baocreat Capital, Guangdong Zhengyuan Private Equity Fund Management Co., Ltd., and other institutions

Securities Star News reported that on May 9, 2026, Tusda (300607) announced that the company held a roadshow on May 8, 2026. Participants included Baochuan Capital, Guangdong Zhengyuan Private Equity Fund Management Co., Ltd., Guangzhou Yuanshi Investment Management Co., Ltd., Guangzhou Zeen Investment, Guohai Securities, Guojin Securities Co., Ltd., Guolian Securities Co., Ltd. Asset Management, Hongshang Capital, Hua’an Fund Management Co., Ltd., Huachuang Securities, Huangshi Economic Development Industrial Investment Co., Ltd., Caitong Securities Research Institute, Jiansu Capital, Jinwan Industrial Investment, Invesco Great Wall Fund Management Co., Ltd., Jingcheng Capital, Minghua Xinde Fund, Ping An Fund Management Co., Ltd., Puyin Ansheng Fund Management Co., Ltd., Qiyue (Guangdong) Capital Investment Co., Ltd., Qianhai Wutong Venture Capital, Qinwen Investment, Dahengqin Capital, Ruilian Private Equity Fund, Ruozhong Life Insurance Co., Ltd., Shanghai Guotai Haitong Securities Asset Management Co., Ltd., Shanghai Houwei Private Equity Fund, Shanghai Tuling Asset Management Co., Ltd., Shanghai Tulin Asset Management Co., Ltd., Shanghai Yunmen Investment, Shanghai Zijie Investment Management Co., Ltd., Shangyin Fund Management Co., Ltd., Shenzhen Deyuan Investment, Shenzhen Hongshunhe Investment, Dongguan Wankui Asset Management Co., Ltd., Shenzhen Jieshi Fund, Shenzhen Qianhai Zhiri Fund Management Co., Ltd., Shenzhen Fuzeng Fund Co., Ltd., Shenzhen Lingji Capital Management Co., Ltd., Shenzhen Artificial Intelligence Industry Association, Shenzhen Isaac Investment Co., Ltd., Songshan Venture Capital (Shenzhen) Co., Ltd., Suzhou Junrong Asset Management Co., Ltd., Pacific Securities Co., Ltd., Wukuang Jintong Equity Investment Fund Management Co., Ltd., Dongguan Securities, Tibet Trust, Xiangyu Xing Investment, Asia-Pacific Huijin Fund Management Co., Ltd., Yanzhou Fund, Sunshine Asset Management Co., Ltd., Yinshi Fund, Yingda Securities Co., Ltd., Original Forest (Shenzhen) Private Securities Fund Management Co., Ltd., Yunhe Fund, Yunshan Investment, Dongguan Listed Company Association, Chang’an Fund Management Co., Ltd., Great Wall Securities, Zhejiang Wokin Investment Management Co., Ltd., CICC, Zhongdaqing Private Equity Fund Management Co., Ltd., China Galaxy Securities, CITIC Securities South China Co., Ltd., Zhongyi Asset Management Co., Ltd., Zhuhai Hengqin Wanfang Private Equity Fund Partnership (Limited Liability) Enterprise, Zhuhai Huamao Ronghui Asset Management Co., Ltd., Everbright Securities Co., Ltd., Guangdong Dazhong Asset Management Co., Ltd., Guangdong Tianliang Private Equity Securities Investment Co., Ltd. participated.

The specific details are as follows:

Q: What was the company’s performance in Q1 2026?

A: In Q1 2026, the company achieved operating revenue of 53,768.31 million yuan, up 48.53% year over year, with an overall gross profit margin of 32.49%; net profit attributable to shareholders of the listed company was 4,808.33 million yuan, up 1,147.36% year over year; net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 3,652.30 million yuan, up 2,661.37% year over year. The main reasons for the increase in operating revenue and profits were: revenue from the industrial robot and automation application systems business increased 81.20% year over year; revenue from the CNC machine tools business increased 62.54% year over year; and revenue from the injection molding equipment business increased 12.22% year over year; revenue growth led to gross profit growth.

Q: How did the company’s industrial robot and automation application systems business perform, and what about orders?

A: In 2025, the company’s industrial robot and automation application systems business achieved operating revenue of 68,513.86 million yuan, with a gross profit margin of 35.84%, up 1.24 percentage points year over year. The reasons for changes in revenue were: ① In the early stage, the company’s automation application systems business focused on leading 3C customers, resulting in a decrease in orders and revenue from customers in other industries; ② the company became more focused on R&D and deployment of “robot+” applications, improving standardized production capabilities and lowering the share of business related to customized projects. However, as the depth and breadth of cooperation with leading 3C customers increased, the order scale for the relevant business continued to grow, and orders on hand at the end of 2025 increased 116.64% year over year.

In terms of industrial robots, the company’s product competitiveness continued to improve, and the large-customer strategy delivered results. Process and application advantages became even more apparent, with operating revenue increasing year over year. Specifically, its self-developed multi-joint robots increased 25.32% year over year, its right-angle coordinate robots increased 7.35% year over year, and the total shipment volume of robot products for the full year was approximately 12,000 units.

In Q1 2026, the company’s industrial robot and automation application systems business achieved operating revenue of 32,188.77 million yuan, up 81.20% year over year, with a gross profit margin of 33.52%. The main reason for the revenue growth was that, as the depth and breadth of cooperation with leading 3C customers increased, the order scale of the company’s automation application systems business grew, and revenue from the relevant business increased in Q1 2026 accordingly.

Q: What is the status of orders for the company’s CNC machine tools business?

A: The company’s CNC machine tools business focuses on the R&D and production of advanced CNC equipment. Its main products are five-axis linked CNC machine tools. The company independently develops core components such as spindles, rotary tables, dual-tilt milling heads, vertical/horizontal gear milling heads, and power tool turrets, among others, which are mainly used in civil aviation, automobiles, humanoid robots, semiconductors, and low-altitude aircraft, etc. In 2025, the demand for parts processing related to humanoid robots increased noticeably, leading to an increase in the company’s orders for five-axis linked CNC machine tools. The total annual order volume was nearly 400 units, up 37% year over year, and total shipments were nearly 300 units, up 15% year over year.

In Q1 2026, the CNC machine tools business achieved operating revenue of 5,311.45 million yuan, up 62.54% year over year; gross profit margin was 23.21%, up 3.28 percentage points year over year. The main reason for the revenue increase was the increased processing demand for parts related to humanoid robots, along with continuous delivery of orders on hand.

Q: How did the company’s injection molding equipment business perform?

A: In 2025, injection molding equipment business revenue was 49,868.64 million yuan, remaining stable year over year; gross profit margin was 39.73%, up 6.98 percentage points year over year. The reasons for the increase in gross profit margin were: ① the company continued to optimize resource allocation in the injection molding machine sector, streamlined the structure of traditional hydraulic injection molding machine product lines, and reduced revenue from low-gross-margin traditional hydraulic injection molding machines; meanwhile, electric injection molding machine revenue maintained a strong growth trend. ② the related products in injection molding supporting equipment and automatic feeding system businesses have prominent market positions. Based on the optimization of sales strategy and improvement in product quality, together with the significant results from expanding overseas markets, operating revenue increased 26.86% year over year.

In Q1 2026, injection molding equipment business achieved operating revenue of 10,966.76 million yuan, up 12.22% year over year, with a gross profit margin of 35.89%. The main reason for the revenue growth was that the company optimized its sales strategy and improved product quality, which led to an increase in orders for related products.

Q: What are the company’s competitive advantages?

A: The company has built full-stack capabilities covering core robot components (upstream), robot bodies (midstream), and system applications (downstream). According to information from Frost & Sullivan, the company is among the few in China that independently controls three major core industrial robot components: controllers, servo drives, and perception systems. Based on years of reserves in control technologies and the capability of integrating software and hardware, the company developed a new generation X5 intelligent robot control platform based on domestic operating systems. This platform performs the motion control function of the robot’s “cerebellum,” adopts a flexible three-layer cloud-edge-end computing architecture, and deeply integrates IT and OT technologies. It is comprehensively compatible with intelligent robots, with a high degree of openness and compatibility, meeting more than 90% of industrial robot needs. It effectively bridges the data gap between AI models and robot bodies, and significantly lowers the development threshold for embodied intelligence applications. With internal R&D capabilities in core components and cross-platform migration technology, the company’s product portfolio is evolving from dedicated automation equipment toward general-purpose intelligent robots. Starting from right-angle coordinate robots specialized for injection molding scenarios, it has developed into multi-joint robots that enable flexible handling and replacement of complex processes. The company has also been actively developing collaborative robots (modular sensing joints) and humanoid robots. According to Frost & Sullivan’s information, the company’s humanoid robot “Xiaotuo” is China’s first embodied intelligence robot applied in injection molding scenarios, and the company’s quadruped robot “Xingzi” can perform multiple tasks in different application scenarios, including autonomous inspection, forestry firefighting operations, and specialized operations in complex environments.

Q: What is the company’s strategic plan for future development?

A: As a leading full-stack industrial robot industry player in China, an early mover in the embodied intelligence field, and a “chain leader” enterprise in Guangdong’s intelligent robot industrial chain, the company has formed an autonomous full-chain layout across core robot components, robot bodies, and automation application systems. With control technology, servo drive technology, and vision system as its three core foundational technologies, the company focuses on three main product lines—industrial robots, injection molding equipment, and CNC machine tools. By extracting high-quality data from process know-how and establishing a business closed loop centered on “scenarios + products + data + I,” the company is deeply pursuing embodied intelligence and steadily moving toward the vision of “becoming a globally leading embodied intelligence technology company.” The company will further expand its business around the following development strategic planning:

（1）Increase R&D efforts in core embodied intelligence areas and strengthen the technical barriers of full-stack self-developed capabilities;

（2）Expand the breadth of service scenarios and fully unlock the value of process and data assets; (3) continuously launch and iterate embodied intelligence and other robot products to build an all-domain, all-scenario intelligent ecosystem;

（4）Further expand the global network and continuously consolidate the customer base;

（5）Carry out strategic acquisitions and investments when the timing is right to accelerate the improvement of the business ecosystem. In the future, the company will enhance its overall competitiveness by focusing on strategic planning—deepening its core business, strengthening technological innovation, globalizing its layout, and improving operations to increase efficiency and effectiveness.

Tusda (300607) main business: intelligent equipment centered on industrial robots, injection molding machines, and CNC machine tools, building an intelligent hardware platform driven by core technologies, and providing end-to-end intelligent manufacturing factory solutions for manufacturing enterprises.

Tusda’s 2026 Q1 report shows that in Q1, the company’s main revenue was 5.38 billion yuan, up 48.53% year over year; net profit attributable to the parent company was 48.0833 million yuan, up 1,147.36% year over year; profit excluding non-recurring items was 36.523 million yuan, up 2,661.37% year over year; the debt ratio was 49.16%, investment income was 14.8408 million yuan, financial expenses were 27.18 million yuan, and gross profit margin was 32.49%.

Within the most recent 90 days, 1 institution has issued a rating for this stock, with 1 buy rating.

The following provides detailed earnings forecast information:

The above content has been compiled by Securities Star from publicly available information and generated by an AI algorithm (Cybersecurity Filing No. 310104345710301240019). It does not constitute investment advice.