Home / Topstar 2022 third quarterly financial performance report | Earnings year-on-year surge CNC machine high-speed development

Topstar 2022 third quarterly financial performance report | Earnings year-on-year surge CNC machine high-speed development

2022/10/28 By topstar

Topstar Third Quarterly Financial Performance Report

From January to September 2022, the Company achieved operating revenue of 3.289 billion yuan. An increase of 43.66% compared to last year. Net profit attributable to shareholders was RMB 140 million, up 5.71% year-on-year. The net profit not attributable to shareholders’ deduction was RMB 126 million, an increase of 6.42% year-on-year.

Among them, the third quarter achieved operating revenue of 1.246 billion yuan, an increase of 69.54% compared to last year. Net profit attributable to shareholders was RMB 37.71 million, a rise of 750.10% year-on-year. The net profit not attributable to shareholders’ deduction was 31.21 million yuan, an increase of 1736.39% year-on-year. As a result.Q3 performance achieved a significant increase year-on-year.

The Company’s revenue increased significantly year-on-year mainly due to the following reasons: the operating income of the automation application system business increased by 35.91% year-on-year; it Incorporated into the active income of Evermi, a consolidated holding subsidiary. The operating income of the CNC machine tool business increased by 725.99% year-on-year. And intelligent energy and environmental management system, with a year-on-year growth of 93.10%.

01 High-speed development of CNC machine tools, market demand, continues to increase

Since this year, the project-based business has been growing steadily. And the product-based industry, such as CNC machines, has been developing at high speed. Currently, our holding subsidiary, AFM, dominates the CNC machines business. AFM has independently controlled critical components such as high rigidity spindle. GTRT gear-driven rotary table, gear-driven double pendulum head, and power turret.

Regarding market demand. The downstream industries of five-axis CNC machines are aerospace&military, precision molds, new energy auto parts, general parts, engineering machinery, medical, and so on. The demand for five-axis CNC machines in downstream industries continues to grow. According to the 2022 semi-annual report data statistics. The first half of the five-axis CNC machines signed 67 units, and 47 units shipped. By the end of June, the order amount of CNC machines exceeded 150 million yuan.

In terms of product planning, the Company launched a new product GMU-600 five-axis machining center. The first quarter was mainly used in processing precision molds, aerospace titanium alloy, high-temperature alloy structural parts, high-precision general mechanical parts, and other fields. In the year’s second half, the Company launched DMU-300 vertical five-axis machining center. Mainly used in medical, automotive parts, impellers, and other high-efficiency and high-precision processing fields. In addition, the Company is developing the HMU-1500 horizontal five-axis machining center. It may appear in the market next year, mainly for new energy vehicle subframes. Aerospace parts and other processing fields.

In terms of development layout, the Company will continue to develop in these three areas: aerospace & military industry, new energy auto parts, and precision molds. In the aerospace & military industry, the demand for 5-axis CNC machining of aircraft structural parts. Aero engines and other factors are increasing continuously. In the new energy automotive parts, the new energy automotive manufacturing process is more refined and more complex, and the application of five-axis CNC is proliferating. Finally, in the precision mold, with the upgrading of the production process, the processing accuracy and processing efficiency requirements are gradually improving, and the customer’s demand for five-axis CNC is increasing. 

02 Industrial robots and injection molding machine products continue to be optimized, and competitiveness has improved significantly

Regarding industrial robots, the Company launched the new SCARA high-speed robot (TRH002-400-150-A) and two six-axis robots (TRV007-910-A and R081-08-T) in the first half of the year. In addition, the MBW130 series injection robots with robust expandability, anti-interference capability, and high positioning accuracy were released. Among them, We have improved the speed of the SCARA high-speed robot (TRH002-400-150-A), accuracy, load performance, using experience, and debugging and maintenance. The Company will continue to increase its investment in developing multi-joint industrial robots and increase SCARA and six-axis robot products.

In terms of injection molding machines, the focus of injection molding machine development has changed from “pursuing scale” to “polishing products.” As a result, we have adopted a balanced capacity investment and improved product structure to improve profitability gradually.

We have three series: TM – small and medium-sized servo-hinged injection molding machines. TH – automatic servo energy-saving hydraulic clamping injection molding machine, and TE – all-electric precision injection molding machine. With clamping force ranging from 90T to 5500T. The TMII series is the small and medium-sized servo-hinged injection molding machine launched this year. It is the second generation of TM upgraded products, with more efficient, stable, and intelligent features, gaining a good reputation in the market. In addition, TE all-electric precision injection molding machines can produce e-cigarette oil bins. E-cigarette bases, car light lenses, etc., will be gradually introduced to the market. 

03 Business focus, organizational upgrade, cost reduction, and efficiency

At present, Topstar is mainly through the independent accounting operation mechanism of the business unit. In each segment, the track is highly focused on ensuring core competitiveness. At the same time, the Company uses its resources to form a synergy of marketing, management, and technology at many levels. Each business unit follows the “ensure that there are profits of income, cash flow profits” of the healthy and sustainable development ideas in thmanagingigher quality and efficiency. Refined management for Topstar to create the benefits gradually highlighted.

January to September expenses accounted for 12.33%, down 5.54% compared to last year. In the future, based on the development keynote of “business focus,” “organizational upgrading,” and “quality and efficiency,” the Company will continue to improve the profitability of each business segment and strive to achieve sustainable and steady growth of the Company’s value. The Company will continue to enhance the profitability of each business department to strive for the sustainable and stable development of the Company’s value.

Topstar will continue to adhere to the long-term, always adhere to the “product and channel two-wheel drive” strategy. Strategy to “controller, servo drive, vision system” three core technologies. “industrial robots and automation, injection molding machines and supporting equipment. CNC machine tools, intelligent energy, and environmental management” are four business sectors. Topstar will strive to become an intelligent hardware company with the core underlying technology.

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