Electronics makers nearly double Topstar's robot and automation sales, but margins slip
The Guangdong company credits deeper work with leading electronics customers, which it doesn't name.
Chinese robot maker Topstar Technology (拓斯达) says its industrial-robot and automation-systems business nearly doubled its revenue in the first nine months of 2026, on deeper work with leading electronics makers. The business's revenue rose 88.8% from a year earlier to 1.03 billion yuan (about US$153 million), more than half the company's total, based on figures in its report.
Topstar, based in Dongguan in southern China's Guangdong province, also makes injection-molding equipment and machine tools. Its third-quarter report said it signed orders for about 10,000 industrial robots and shipped about 8,600 from January through September. It gave no year-earlier order count, nor did its 2025 third-quarter report. Orders for its own multi-joint robot arms rose about 34.4% from a year earlier.
Topstar credited the growth to its automation systems, saying its work with leading 3C customers (computer, communications and consumer-electronics makers) "continued to increase in depth and breadth." That mix cost margin. The business's gross margin fell 4.7 percentage points from a year earlier to 32.0%, which Topstar attributed to automation systems taking a much larger share of the business's revenue. Company-wide, revenue rose 16.7% from a year earlier to 1.97 billion yuan (about US$293 million), and net profit nearly tripled to 146.2 million yuan (about US$21.8 million).
Who are the buyers? Topstar doesn't name them. Its 2025 annual report shows that its two biggest customers, across all its businesses, took more than a third of 2025 sales. In 2025, the top buyers of its robots were 3C makers, followed by carmakers, home-appliance makers, equipment wholesalers and makers of household and personal-care products.
The growth comes as China's robot output climbs. Industrial companies with at least 20 million yuan (about US$3 million) of annual revenue made 794,781 industrial robots in the first nine months, up 29.1% from a year earlier, the National Bureau of Statistics (国家统计局) reported. Guangdong, which makes more than 40% of the national total, raised output 34.2% from a year earlier in the same period, the provincial statistics bureau reported.
Sources: 拓斯达 Guangdong Topstar Technology (2026 third-quarter report, SZSE filing, via Sina Finance), 拓斯达 Guangdong Topstar Technology (2026 half-year report, via Sina Finance), 拓斯达 Guangdong Topstar Technology (2025 annual report, via Sina Finance), 拓斯达 Guangdong Topstar Technology (2025 third-quarter report, via Sina Finance), 国家统计局 National Bureau of Statistics of China, 广东省统计局 Guangdong Provincial Bureau of Statistics, 拓斯达 Guangdong Topstar Technology, industrial robot product page (topstarltd.com)
Editor: Ian Lamont
