Core Viewpoint - Daotong Technology (688208) has initiated a share buyback program to maintain company value and protect shareholder interests, with the first buyback completed on May 16, 2025 [3]. Trading Information Summary - On May 16, 2025, Daotong Technology's stock closed at 29.28 yuan, up 1.49%, with a turnover rate of 2.12%, trading volume of 142,000 shares, and a transaction value of 416 million yuan [1]. - The fund flow on the same day showed a net outflow of 11.818 million yuan from institutional investors, while retail investors saw a net inflow of 6.77 million yuan and speculative funds a net inflow of 5.0479 million yuan [2][5]. Company Announcement Summary - Daotong Technology announced its first share buyback via centralized bidding, with the plan disclosed on April 9, 2025, and the implementation period from April 9 to July 8, 2025 [3]. - The expected buyback amount ranges from 100 million yuan to 200 million yuan, with a maximum buyback price of 42.71 yuan per share [3]. - As of May 16, 2025, the company has repurchased 170,808 shares, representing 0.03% of the total share capital, at a total cost of approximately 4,998,589.34 yuan, with prices ranging from 28.70 yuan to 29.83 yuan per share [3][5].

证券代码：688208 证券简称：道通科技 公告编号：2025-042 转债代码：118013 转债简称：道通转债 深圳市道通科技股份有限公司 关于以集中竞价交易方式首次回购公司股份的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 回购方案首次披露日 2025/4/9 回购方案实施期限 2025 年 4 月 9 日~2025 年 7 月 8 日 预计回购金额 1亿元~2亿元 □减少注册资本 □用于员工持股计划或股权激励 回购用途 □用于转换公司可转债 √为维护公司价值及股东权益 累计已回购股数 170,808股 累计已回购股数占总股本比例 0.03% 累计已回购金额 4,998,589.34元 实际回购价格区间 28.70元/股~29.83元/股 一、 回购股份的基本情况 深圳市道通科技股份有限公司（以下简称"公司"）于 2025 年 4 月 8 日召开 第四届董事会第十九次会议，审议通过了《关于以集中竞价交易方式回购公司股 份方案的议案》，同意公司使用自有资金通过集中竞价交易方式回购公司已发行的 人民币 ...

证券代码：688208 证券简称：道通科技 公告编号：2025-042 转债代码：118013 转债简称：道通转债 月 10 日在上海证券交易所网站（www.sse.com.cn）披露的《关于以集中竞价交 易方式回购公司股份方案的公告》（公告编号：2025-028）和《关于以集中竞价交 易方式回购公司股份的回购报告书》（公告编号：2025-029）。 因实施 2024 年年度权益分派，公司以集中竞价交易方式回购股份的价格上限 由不超过人民币 63.83 元/股（含）调整为不超过人民币 42.71 元/股（含），具体 内容详见公司于 2025 年 5 月 7 日在上海证券交易所网站（www.sse.com.cn）披 露的《关于实施 2024 年年度权益分派调整回购股份价格上限的公告》（公告编号： 2025-040）。 二、回购股份的进展情况 深圳市道通科技股份有限公司 关于以集中竞价交易方式首次回购公司股份的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： | 回购方案首次披露日 | 2025/4/9 | | ...

Core Viewpoint - Daotong Technology has demonstrated a strong commitment to shareholder returns through significant cash dividends and stock repurchases, achieving record-high distributions in 2024, reflecting the company's robust financial performance and growth strategy [2][3]. Group 1: Dividend and Share Repurchase - In 2024, Daotong Technology distributed a total of 546 million yuan in cash dividends and stock repurchases, marking the highest total in the company's history [2]. - The company implemented a cash dividend of 5 yuan per 10 shares and a stock increase of 4.9 shares per 10 shares, resulting in a total cash dividend payout of 223 million yuan and a stock increase of 218 million shares [2]. - Over the past three years, the cumulative cash dividends and repurchases reached 822 million yuan, accounting for 89.17% of the net profit attributable to shareholders [3]. Group 2: Financial Performance - Daotong Technology reported a revenue of 3.932 billion yuan in 2024, representing a year-on-year growth of 21%, and a net profit of 641 million yuan, a significant increase of 258% [2]. - In the first quarter of 2025, the company continued to show high-quality growth with revenues of 1.094 billion yuan, up 27% year-on-year, and a net profit of 199 million yuan, up 60% [4]. Group 3: Strategic Focus and Innovation - The company is focused on AI-driven sustainable development, with a strategic emphasis on "AI intelligence" and has developed various solutions in automotive diagnostics, smart charging networks, and energy management [3][4]. - Daotong Technology is actively integrating generative AI technologies into its product solutions, enhancing its capabilities in automotive diagnostics, charging, and energy applications [4]. - The company plans to maintain its commitment to enhancing shareholder returns and aligning capital expenditures with cash dividends and stock repurchases to ensure long-term, stable, and sustainable shareholder value [5].

Group 1 - The core viewpoint of the news is the agreement between China and the U.S. to significantly reduce bilateral tariff levels by May 14, 2025, which is expected to impact companies like Daotong Technology positively [1] - Daotong Technology has successfully won a bid for 50,000 commercial AC charging piles in North America, with a total contract value of 238 million yuan, indicating strong market performance despite tariff challenges [2][1] - The company plans to continue its factory construction in Monterrey, Mexico, as part of its global supply chain strategy to enhance regional collaboration and mitigate geopolitical risks [1] Group 2 - Daotong Technology has made significant progress in the North American market by enhancing AI technology applications and local service capabilities, despite previous tariff impacts [2] - The company has secured a large order for commercial AC charging solutions from LAZ Parking, a leading parking operator in North America, further solidifying its market position [2] - Additionally, Daotong Technology has won a substantial order for DC charging solutions from a global oil giant, with some products to be deployed in North America [2]

Investment Rating - The investment rating for the computer industry is "Buy" [2] Core Insights - The computer industry is experiencing a bottoming out of demand in 2024, with significant differences in structural performance across various segments. Companies are enhancing operational efficiency to cope with the challenges [6][14] - The median revenue growth rate for the industry in 2024 is -1.59%, a decrease of 4.88 percentage points from 2023. The median net profit growth rate is -2.24%, down 8.35 percentage points from the previous year [15] - The report highlights that while revenue and profit metrics are declining, the rate of decline is slowing, indicating potential for improvement in Q1 2025 [15][16] Summary by Sections 1. 2024 Annual Report: Bottoming Demand and Efficiency Improvements - The report analyzes the performance of 208 listed companies in the computer industry, revealing that the overall revenue growth is stabilizing, and profit margins are showing signs of recovery [14][15] - Different segments within the industry show varying performance, with IT hardware, trusted computing, and smart vehicle sectors demonstrating positive growth trends [16][28] 2. Demand Stabilization and Financial Indicators - The report notes that contract liabilities are beginning to improve, and accounts receivable growth is declining, indicating a more stable financial environment [23][24] - Cash inflows from sales of goods and services have significantly increased, reflecting a positive trend in operational cash flow [24] 3. Investment Activity and Valuation Levels - The report indicates an increase in net cash outflow from investment activities, suggesting an expansion trend among companies [26] - As of April 30, 2025, the industry’s price-to-earnings (P/E) ratio is 46 times, with software companies showing a higher P/E increase compared to hardware companies [19][20] 4. Key Areas of Investment Value - The report identifies several key areas with strong investment potential, including AI applications, domestic software and hardware replacements, and the smart driving industry [20][21] - The acceleration of domestic orders in trusted computing and the expansion of the Harmony OS ecosystem are expected to enhance the competitive edge of leading companies in the industry [20][21]

| 股票代码：688208 | 股票简称：道通科技 | 公告编号：2025-038 | | --- | --- | --- | | 转债代码：118013 | 转债简称：道通转债 | | 深圳市道通科技股份有限公司 第四届董事会第二十一次会议决议公告 表决情况：同意 7 票，弃权 0 票，反对 0 票。 具体内容详见同日于上海证券交易所网站（www.sse.com.cn）披露的《关于实 施 2024 年年度权益分派调整"道通转债"转股价格的公告》（公告编号：2025-039）。 2、《关于实施 2024 年年度权益分派调整回购股份价格上限的议案》 表决情况：同意 7 票，弃权 0 票，反对 0 票。 具体内容详见同日于上海证券交易所网站（www.sse.com.cn）披露的《关于实 施 2024 年年度权益分派调整回购股份价格上限的公告》（公告编号：2025-040）。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 一、董事会会议召开情况 深圳市道通科技股份有限公司（以下简称"公司"）第四届董事会第二十一次会 议于 20 ...

| 证券代码：688208 | 证券简称：道通科技 | 公告编号：2025-037 | | --- | --- | --- | | 债券代码：118013 | 债券简称：道通转债 | | 深圳市道通科技股份有限公司 2024年年度权益分派实施公告 本次利润分配及转增股本方案经公司2025 年 4 月 18 日的2024年年度股东大 会审议通过。 二、 分配、转增股本方案 1. 发放年度：2024年年度 2. 分派对象： 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： | 股权登记日 | 除权（息）日 | 新增无限售条件流 | 现金红利发放日 | | --- | --- | --- | --- | | | | 通股份上市日 | | | 2025/5/13 | 2025/5/14 | 2025/5/14 | 2025/5/14 | 一、 通过分配、转增股本方案的股东大会届次和日期 3. 差异化分红送转方案： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海 ...

| 601688 | 华泰证 | 5 | 2.08 | 6.01 | 1.76 | | --- | --- | --- | --- | --- | --- | | | 券 | | | | | | 603005 | 晶方科 | 5 | 1.94 | 5.46 | 9.07 | | | 技 | | | | | | 000933 | 神火股 | 7 | 1.91 | 6.53 | 4.81 | | | 份 | | | | | | 300657 | 弘信电 | 5 | 1.79 | 4.55 | 11.37 | | | 子 | | | | | | 688158 | 优刻得 | 5 | 1.78 | 5.36 | 13.31 | | 000630 | 铜陵有 | 5 | 1.71 | 8.40 | 1.58 | | | 色 | | | | | | 300382 | 斯莱克 | 5 | 1.62 | 8.36 | 24.17 | | 688208 | 道通科 | 5 | 1.50 | 5.56 | 14.00 | | | 技 | | | | | | 002558 | 巨人网 | 5 | 1.37 | 5.25 | 11. ...

重要内容提示： 深圳市道通科技股份有限公司（以下简称"公司"）2024 年年度权益分派实施后， 公司以集中竞价交易方式回购股份的价格上限由不超过人民币 63.83 元/股（含）调 整为不超过人民币 42.71 元/股（含）。 一、回购股份的基本情况 | 股票代码：688208 | 股票简称：道通科技 | 公告编号：2025-040 | | --- | --- | --- | | 转债代码：118013 | 转债简称：道通转债 | | 深圳市道通科技股份有限公司 关于实施 2024 年年度权益分派调整回购股份价格上限的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 由于公司本次分红为差异化分红，每股派送现金股利（D）指根据总股本摊薄调 整后计算的每股现金股利，即本次差异化分红虚拟分派的现金红利；流通股份变动比 例（n）指根据总股本摊薄调整后计算的流通股份变动比例，即本次差异化分红虚拟 分派的流通股份变动比例。 截至本公告披露日，公司总股本为 451,878,674 股，扣减回购专用证券账户中股 份数 6,359,282 ...