Topband, a leading provider of intelligent control solutions, has reported strong financial performance for Q3 2024, with a 21.04% year-on-year increase in revenue. From January to September 2024, the company generated approximately 7.7 billion yuan ($1.05 billion), continuing a trend of four consecutive quarters of growth.
Founded in 1996, Topband has evolved over the past three decades into a major player in the fields of home appliances, tools, new energy, and industrial sectors. The company’s success is underpinned by its advanced “four electrics and one network” technology, which integrates electric control, motors, batteries, power supplies, and IoT platforms.
As part of its strategic growth plan, Topband has also made significant strides in expanding its international presence. The company’s overseas revenue has risen from 16% in 2023 to 21% in 2024, driven by its strategy of balancing strong roots in China with a global expansion approach focused on proximity to customers.
Topband’s global manufacturing network spans multiple key locations across the world. In China, the company operates factories in Shenzhen, Huizhou, and Ningbo, with a new facility under construction in Nantong. These locations are strategically placed in regions with robust industrial bases, enabling efficient production and rapid market responses.
Internationally, Topband’s expansion has been marked by a series of strategic moves, including the opening of its first overseas factory in India in 2016. This was followed by a facility in Vietnam in 2019 and a factory in Monterrey, Mexico, in 2021. That same year, the company strengthened its European operations with a factory in Romania to better serve regional demand.
Each of Topband’s international factories has distinct responsibilities in production. The Chinese factories are the primary producers of tools, home appliances, new energy, and industrial products, while the Vietnam and Mexico facilities focus on tool components. The India and Romania plants, on the other hand, specialise in home appliance components.
The company’s overseas plants have shown remarkable growth, with both the Vietnam and India plants surpassing their 2023 outputs. Topband’s Mexican facility saw a significant boost, recording over 100 million yuan in output, while the Romanian plant achieved millions in output just a year after its opening.
Given the increasing global complexities of supply chains, Topband has placed a strong emphasis on resilience. The company has implemented a rigorous global supplier certification system to ensure efficiency and compliance. Its headquarters in Shenzhen serves as a central hub, coordinating 13 production and R&D centres and 26 subsidiaries across the globe.
Looking ahead, Topband’s future appears promising. By 2023, its intelligent control systems had reached over 1.45 billion products in households worldwide. With a focus on agility, innovation, and partnerships, Topband is well-positioned to expand its global footprint and continue advancing China’s smart manufacturing sector, helping create a more intelligent future for consumers worldwide.
