bubble finance learned that on the evening of July 2, daotong technology (688208.SH) released its semi-annual performance forecast for 2024, with an expected revenue of 1.83 billion yuan -1.85 billion yuan, up 26.41-27.79 year on year. Net profit attributable to parent was 0.38 billion yuan -0.4 billion yuan, up 101.03-111.62 year on year. Net profit excluding non-recurring gains and losses was 0.26 billion yuan -0.28 billion yuan, up 37.17-47.72 year.

Daotong Technology explained that the company fully tapped the market segments, consolidated the company's technical and market advantages in the global diagnostic and testing fields, and at the same time increased the expansion of new energy business market channels to continuously reduce costs and improve profitability.

The performance forecast shows that in 2024, the company will focus on the development trend of new energy for automobiles. While maintaining the competitive advantage of traditional diagnostic business and stable profitability, it will further increase investment in new energy business research and development, and continuously enhance the company's product competitiveness and Brand influence. It is expected that in the first half of 2024, the traditional diagnostic business will achieve operating income of 1.46 billion -1.47 billion yuan, an increase of more than 15% year-on-year; the new energy charging pile business will achieve operating income of 0.37 billion -0.38 billion yuan, an increase of more than 80% year-on-year.

in the second quarter of 2024, the company completed the transfer of 5% equity interest in its subsidiary, and its shareholding ratio was reduced to 46%. the company will no longer be included in the company's consolidated statements, and the resulting investment income of about 99 million yuan will be included in the non-recurring profit and loss of the current period. This also explains why the company's net profit growth rate is much higher than the growth rate of non-net profit.

Previously, in the first quarter of 2024, Daotong Technology achieved a year-on-year increase of 22.22 to 0.863 billion yuan in revenue, a year-on-year increase of 73.34 to 0.125 billion yuan in net profit, and a year-on-year increase of 70.65 to 0.125 billion yuan after deducting non-recurring gains and losses. yuan.

Based on this, in the second quarter of this year, Daotong Technology is expected to achieve revenue of 0.967 billion -0.987 billion yuan, up 30.4-33.1 year-on-year; net profit attributable to the parent was 0.255 billion -0.275 billion yuan, up 118.06-135.15 year-on-year%; net profit excluding non-recurring gains and losses was 0.135 billion -0.155 billion yuan, up 16.11-33.3 year-on-year.

month-on-month, Daotong Technology's net revenue in the second quarter will also record growth. Revenue is expected to grow by 12-14.31 per cent, net profit attributable to the parent company is expected to grow by 104.61-120.64 per cent, and net profit excluding non-recurring gains and losses is expected to grow by 8.16-24.17 per cent.

Daotong Technology focuses on the research and development, production, sales and service of new energy charging piles, automobile comprehensive diagnosis, detection and analysis systems and automobile electronic parts. Its products are mainly sold in more than 70 countries and regions such as the United States, Europe, Japan, Australia, etc, it is a professional provider of comprehensive solutions for smart charging of new energy vehicles, comprehensive diagnosis and testing of automobiles, TPMS (tire pressure monitoring system), ADAS (advanced assisted driving system) products and related software cloud services.

In 2023, the company released three important products: high-power overcharged pile DC HiPower, small DC pile DC Compact, and commercial AC pile AC Ultra. Among them, the DC HiPower is fully equipped with a maximum charging power of 640kW, a single gun output power of 480KW, and is equipped with liquid cooling technology. It can supplement 400 kilometers (250 miles) in 10 minutes, making the charging speed comparable to refueling.

in terms of comprehensive diagnostic products for automobiles, the company has introduced a new generation of high-end diagnostic flat panel MaxiSys MS908S3, covering comprehensive diagnostic functions such as code reading, code clearing, freeze frame reading, data flow reading, action testing, special functions and personalized configuration of more than 230 automobiles worldwide.

TPMS series products, the company has introduced the world's first universal programmable Bluetooth tire pressure sensor BLE-A001, which covers Tesla's entire series of models supporting 2.4G Bluetooth tire pressure monitoring system. The company's ADAS calibration software and four-wheel positioning software have achieved full coverage of 2023 new models in the world, meeting the coverage rate of over 95% in the global vehicle system, and are the latest and most complete ADAS calibration system and four-wheel positioning system in the industry.

Haitong Securities June 5 research report analysis pointed out that as a highly internationalized Chinese company, with traditional automotive diagnostic products as the cornerstone, is vigorously expanding the emerging charging pile business. The company's business foundation is stable, charging pile business prospects are broad.

According to its analysis, the overseas charging pile market has great potential. From the perspective of new energy intelligent charging business, the domestic market is far ahead in the world in terms of sales of new energy vehicles and infrastructure construction progress of charging piles. Relatively speaking, with the gradual increase in the penetration rate of new energy vehicles in the US and European markets and the gradual implementation of government subsidy policies, the huge demand for charging infrastructure and related cloud platform services has just started. In addition, the European and American markets have high requirements for charging pile software, hardware capabilities, localized production and localized after-sales maintenance services, and higher requirements for the R & D and design capabilities, global management and service levels of charging pile companies.

(The data in this article comes from Oriental Fortune choice, company announcements, etc.)

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