China's TOPNC (07688) has released its interim results for the six months ended June 30, 2026, reporting revenue of RMB 166 million and a gross profit of RMB 77.53 million. The company posted a loss attributable to母公司 owners of RMB 57.87 million for the period, translating to a loss per share of RMB 0.16.
Since the second half of 2025, the commercial rocket and domestic large-aircraft sectors have expanded rapidly. Driven by supportive national policies, increased social capital investment, and broad industry-chain growth, the company has seen its equipment demand and order volumes reach unprecedented levels.
In June of this year, TOPNC successfully delivered the first 5-meter-class friction stir welding production line for a private Chinese commercial rocket company. During the development of key structural components for commercial rockets, the company and its client completed double-sided friction stir welding trials on 50mm-thick aluminum alloy plates, achieving weld strength exceeding 90% of the base material. These trials also validated the company's self-developed 430Nm heavy-duty spindle and intelligent control system.
Testing confirmed that this composite manufacturing process is both feasible and reliable. When applied to the batch production of fork ring components, it is expected to reduce per-unit manufacturing costs by over 50% and double production efficiency compared to traditional processes, enabling clients to manufacture 5-meter-class commercial rockets at lower cost and higher volume.
The company's aerospace equipment is helping private commercial space ventures advance toward a new level of high-frequency launches of heavy-lift rockets, benchmarked against the Long March 5 and Long March 10, and matching or even surpassing the Falcon series from SpaceX.
The company's compact general-market five-axis machines, with spans under three meters, are versatile CNC tools designed for machining small and medium-sized parts across general industries. They support multiple machining processes, including milling, turning, drilling, and boring. These machines are used in downstream sectors such as automotive battery housings and motor components, medical artificial bones, and marine propellers.
The compact five-axis machines offer high process adaptability, suit a variety of materials and geometries, and feature user-friendly interfaces, providing convenient access to industrial-grade precision machining for general industries. During the six months ended June 30, 2026, the company sold 14 compact general-market five-axis machines, a 100.0% increase compared to the same period in 2025.