Topband's Q3 2024 report revealed revenue of approximately 7.7 billion yuan ($1.05 billion) from January to September (statistics based on China's listed company rules), a 21.04% year-on-year increase, marking four consecutive quarters of growth. Overseas revenue also rose from 16% in 2023 to 21% in 2024, driven by Topband's strategy of "rooted in China, expanding globally, close to customers."
Topband's global manufacturing network spans multiple strategic locations: Shenzhen, Huizhou, and Ningbo in China; Vietnam and India in Southeast Asia; Mexico in North American; and Romania in Europe. This allows Topband to provide responsive, localized delivery, supporting resilient growth.
In China, Topband's factories are located in the Pearl and Yangtze River Deltas—regions with strong industrial bases and logistics. Topband operates factories in Shenzhen, Huizhou, Ningbo, and a facility under construction in Nantong, optimizing regional resources for efficient production and rapid market response.
Internationally, Topband's supply chain is built for flexibility and resilience. Its first overseas factory in India (2016) marked its global expansion. In 2019, Topband established a factory in Vietnam, capitalizing on local labor and infrastructure. To support customers in the Western Hemisphere, Topband opened a plant in Monterrey, Mexico, in 2021. That year, Topband also strengthened its European presence with a factory in Romania to meet regional demand.
Production responsibilities are strategically divided among locations: China's facilities produce most tool, home appliance, new energy, and industrial products. Vietnam and Mexico focus on tool components, while India and Romania handle home appliance components.
The Vietnam and India plants have achieved large-scale production with rapidly growing capacity, while Mexico and Romania are ramping up production and optimizing operations. By Q3 2024, Vietnam and India plants had surpassed their 2023 outputs. The Mexico plant recorded over 100 million yuan in output, with significant growth, while Romania achieved tens of millions output levels since launching last year. These figures highlight the strong performance of Topband's overseas facilities.
With geopolitical challenges and natural disasters posing risks, Topband has made supply chain resilience a priority. It has implemented a rigorous global supplier certification system, using its Shenzhen headquarters as a central planning hub to coordinate 13 production and R&D centers and 26 subsidiaries globally, ensuring efficient logistics and compliance.
By 2023, around 1.45 billion products equipped with Topband's intelligent systems had entered households worldwide. Guided by its values of "Agility, Innovation, Partnership," Topband is advancing its global footprint, enhancing operations, and accelerating Chinese "smart manufacturing" worldwide to create a more intelligent, beautiful future with its clients.
Source: TOPBAND
Reporter: PR Wire
Editor: PR Wire
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