ECX Latest Report

Performance Review

Tongtech's operating revenue in 2024 was US$1.941 billion, up 3.6% from US$1.874 billion in 2023. Despite the growth in operating revenue, the company still faced negative pre-tax profit and net profit, indicating challenges in profitability.

Key Data in the Financial Report

1. Operating revenue in 2024 was US$1.941 billion, up 3.6% from US$1.874 billion in 2023.

2. Despite the growth in operating revenue, the company's pre-tax profit and net profit remained negative, indicating insufficient profitability.

3. Possible growth factors include increased market demand, adjusted sales strategies, new product launches, and improved industry environment.

Peer Comparison

1. Industry-wide analysis: The current technology industry generally experiences revenue growth, especially driven by digital transformation and intelligent services, creating a favorable external environment for Tongtech's operating revenue growth.

2. Peer evaluation analysis: Although Tongtech's operating revenue has grown, its growth rate is smaller than that of other companies in the same industry, and it needs to pay attention to whether it can maintain growth in competition, especially in the context of still being in a loss-making state, profitability needs to be improved.

Summary

Tongtech's operating revenue in 2024 achieved a slight growth, reflecting the positive effects of market demand and sales strategies. However, the insufficient profitability remains a major challenge for the company, which needs to optimize its operating strategies further to achieve a positive profit.

Opportunities

1. Attracting new customers and increasing market share through the launch of new products (such as Tongtech's Parker Computing Platform and Atlas Computing Platform).

2. Establishing strategic partnerships with other companies (such as Tencent) to promote technological research and market expansion.

3. Deep cooperation in the global supply chain can enhance the intelligent level of vehicle brands and promote revenue growth.

4. Establishing new production bases and increasing production capacity to quickly respond to market demand and increase sales volume.

Risks

1. Intensified competition may lead to a smaller growth rate of operating revenue and affect market position.

2. The company relies on revenue from Geely models, and if Geely's market performance is poor, it will have a negative impact on overall revenue.

3. Continuous losses in profitability may affect investor confidence and the company's long-term development.

4. Changes in the overall economic environment of the industry may affect market demand and lead to revenue fluctuations.