topstar(300607)2025-04-22 13:57Group 1: Company Performance Overview - In 2024, the company achieved operating revenue of 287,163.57 million yuan, a decrease of 36.92% year-on-year, primarily due to a 54.22% contraction in the smart energy and environmental management system business [3] - The overall gross margin for other business segments was 34.25%, an increase of 3.30 percentage points year-on-year [3] - The product business scale increased by 15.62 percentage points year-on-year, contributing 93.12% to gross profit, which is a 47.71% increase year-on-year [3] Group 2: Q1 2025 Business Performance - In Q1 2025, the smart energy and environmental management system revenue dropped by over 90%, while other business revenues grew by over 23%, with a comprehensive gross margin of 37.43% [3] - The product business revenue increased by 8.87% year-on-year, with industrial robot revenue rising by 23.81% [3] - The company received over 120 orders for CNC machine tools, with order value increasing by over 70% [3] Group 3: Industrial Robot Business - In 2024, the industrial robot segment generated revenue of 27,531.64 million yuan, reflecting a 12.50% year-on-year growth, with a gross margin of 47.53%, up by 3.93 percentage points [4] - The growth was driven by a 26.20% increase in revenue from coordinate robots due to heightened demand in the injection molding industry [4] - The company reduced low-margin trading robot business while rapidly expanding its self-produced multi-joint robot business, achieving a shipment of over 2,000 units, with a revenue increase of 76.04% [4] Group 4: CNC Machine Tool Business - In 2024, the CNC machine tool segment reported revenue of 30,816.43 million yuan, with a gross margin of 29.85%, experiencing an 11.71% decline due to production constraints from capacity relocation [5] - Approximately 270 units of five-axis CNC machine tools were sold, with over 250 units shipped [5] Group 5: Injection Molding Equipment Business - In 2024, the injection molding machine and related equipment segment achieved revenue of 51,121.47 million yuan, an 18.67% increase year-on-year, with a gross margin of 32.75% [6] - The injection molding machine revenue rose by 10.50%, with order volume increasing by approximately 150% and shipment volume growing by over 300% [6] Group 6: Embodied Intelligence Development - The company is focusing on embodied intelligence by launching a new generation of intelligent robot control platform, which integrates sensing, computing, and control [7] - Collaborations with major cloud service providers like Huawei Cloud and Alibaba Cloud are underway to explore embodied intelligence applications [8] - The company aims to develop intelligent robots tailored to real customer scenarios, addressing pain points in manufacturing [8]