Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company's revenue met expectations, with significant improvement in the profitability of charging piles [2] - In the first half of the year, the company achieved operating revenue of 1.842 billion yuan, a year-on-year increase of 27.22%, and a net profit attributable to shareholders of 387 million yuan, a year-on-year increase of 104.51% [2] - The charging pile business is expected to bring a new growth curve for the company, with the digital energy business revenue growing by 92.37% year-on-year [2] - The company is projected to achieve operating revenues of 4.195 billion, 5.143 billion, and 6.272 billion yuan from 2024 to 2026, with net profits of 529 million, 637 million, and 765 million yuan respectively [2] Financial Performance Summary - The company reported a gross margin of 55.89% and a net margin of 25.03% in Q2 2024, with a notable contribution from the disposal of a subsidiary [2] - The charging pile business achieved a gross margin of 38.86%, up from 33.65% for the previous year [2] - The company maintained stable expense ratios in Q2 2024, with sales, management, and R&D expense ratios at 13.04%, 6.32%, and 16.38% respectively [2] - The projected earnings per share (EPS) for 2024, 2025, and 2026 are 1.17 yuan, 1.41 yuan, and 1.69 yuan respectively [5]

Group 1: Production Capacity and Orders - The production capacity and utilization rate of the U.S. factory are aligned with NEVI and BABA regulations, and the company adopts a "sales-driven production" model based on sales forecasts and order data [2][3] - The company has sufficient production reserves and can expand capacity in response to order growth [3] - The current order backlog and overall revenue expectations for the year were discussed, indicating a focus on domestic market opportunities [2][3] Group 2: Financial Performance - In the first half of 2024, the company achieved a gross profit margin of 56.28%, an increase of 2.16 percentage points year-on-year, driven by improvements in digital diagnostics and digital energy business margins [3][4] - The sales expense ratio was 13.63%, down by 1.77 percentage points compared to the previous year, while the R&D expense ratio was 16.43%, down by 0.67 percentage points [5] - Negative net cash flow from investing was primarily due to fixed asset purchases, and negative cash flow from financing was due to dividend payments and stock buybacks [5] Group 3: Market Position and Competition - The company has strategically positioned itself in the overseas new energy charging business since 2021, with a comprehensive product matrix covering intelligent charging network solutions and energy management solutions [4] - The global market for electric vehicle charging infrastructure is expanding, with higher barriers to entry in the European and American markets compared to the domestic market [4] Group 4: Future Plans and R&D Focus - The company is closely monitoring domestic market opportunities and selecting quality projects for expansion [3][4] - Key R&D projects are detailed in the regular reports, indicating a commitment to innovation and market responsiveness [4]

证券代码：688208 证券简称：道通科技 公告编号：2024-067 深圳市道通科技股份有限公司 2024 年第二次临时股东大会决议公告 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： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2024 年 8 月 19 日 （二） 股东大会召开的地点：深圳市南山区西丽街道松坪山社区高新北六道 36 号彩虹科技大楼一层公司会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 84 | | --- | --- | | 普通股股东人数 | 84 | | 2、出席会议的股东所持有的表决权数量 | 184,951,997 | | 普通股股东所持有表决权数量 | 184,951,997 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 41.9491 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） ...

北京市中伦（深圳）律师事务所 关于深圳市道通科技股份有限公司 2024 年第二次临时股东大会的 法律意见书 二〇二四年八月 北京 • 上海 • 深圳 • 广州 • 武汉 • 成都 • 重庆 • 青岛 • 杭州 • 南京 • 海口 • 东京 • 香港 • 伦敦 • 纽约 • 洛杉矶 • 旧金山 • 阿拉木图 Beijing • Shanghai • Shenzhen • Guangzhou • Wuhan • Chengdu • Chongqing • Qingdao • Hangzhou • Nanjing • Haikou • Tokyo • Hong Kong • London • New York • Los Angeles • San Francisco • Almaty 北京市中伦（深圳）律师事务所 关于深圳市道通科技股份有限公司 2024 年第二次临时股东大会的 法律意见书 致：深圳市道通科技股份有限公司 根据《中华人民共和国公司法》（下称"《公司法》"）、《中华人民共和 国证券法》、中国证券监督管理委员会发布的《上市公司股东大会规则》（下称 "《股东大会规则》"）、《上海证券交易所科创板股票上市 ...

Group 1: Company Overview and Market Position - The company, Daotong Technology, is listed under the stock code 688208 and is based in Shenzhen, China [1] - Daotong Technology has established three major production bases in Shenzhen, Vietnam, and North Carolina, USA, creating a global production and supply chain network [4] - The company has over 14 overseas regional headquarters and sales platforms, enhancing its local service capabilities [4] Group 2: Product Offerings and Applications - The company showcased its new energy charging pile products in four major application scenarios: home charging, destination charging, on-the-go charging, and fleet charging [2][3] - The home charging piles range from 7kW to 22kW and are primarily sold through e-commerce platforms like Amazon [2] - The high-power DC charging piles can reach up to 640kW, allowing for a charging time of just 10 minutes to cover 400 kilometers (approximately 250 miles) [3] Group 3: Financial Performance - The gross profit margin for the digital diagnosis business remains stable at around 60%, while the digital energy business maintains a gross profit margin of 37% to 40% [4][5] - The overall gross profit margin for the company in the first half of 2024 was 56.28% [5] - The company improved its expense ratio by 3.03 percentage points year-on-year, achieving a rate of 37.16% in the first half of 2024 [5][6] Group 4: Strategic Initiatives and Risk Management - The company emphasizes the importance of technological innovation and plans to launch new products in the digital maintenance and digital energy sectors in the second half of 2024 [6] - The company has proactively established overseas factories since 2018 to mitigate risks associated with international trade environments [4] - The company is closely monitoring policy directions in various countries to enhance its production and sales self-circulation capabilities [4]

深圳市道通科技股份有限公司 2024 年第二次临时股东大会会议资料 二〇二四年八月 | 一、2024 | 年第二次临时股东大会会议须知 | 1 | | --- | --- | --- | | 二、2024 | 年第二次临时股东大会会议议程 | 3 | | 三、议案 | 1：关于 2024 年半年度利润分配方案的议案 | 5 | 为了维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保证大会 的顺利进行，根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司股 东大会规则》以及《深圳市道通科技股份有限公司章程》（以下简称"《公司章程》"）、 《深圳市道通科技股份有限公司股东大会议事规则》等相关规定，深圳市道通科技股 份有限公司（以下简称"公司"）特制定2024年第二次临时股东大会会议须知： 一、为保证本次大会的严肃性和正常秩序，切实维护股东的合法权益，出席会议 的股东及股东代理人须在会议召开前15分钟到会议现场办理签到手续，并请按规定出 示证券账户卡、身份证明文件或企业营业执照/注册证书复印件（加盖公章）、授权委 托书等，经验证后领取会议资料，方可出席会议。会议开始后，会议登记应当终止， 由会议 ...

| 股票代码：688208 | 股票简称：道通科技 公告编号：2024-066 | | --- | --- | | 转债代码：118013 | 转债简称：道通转债 | 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。 重要内容提示： 会议召开时间：2024 年 8 月 20 日（星期二）上午 10:00-11:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 深圳市道通科技股份有限公司 关于召开 2024 年半年度业绩说明会的公告 会议召开方式：上证路演中心网络互动 投资者可于 2024 年 8 月 13 日（星期二）至 8 月 19 日（星期一）16:00 前登录 上证 路演 中 心网站 首页 点击 " 提 问预征 集 "栏 目或 通 过公司 邮箱 ir@autel.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 深圳市道通科技股份有限公司（以下简称"公司"）已于 2024 年 8 月 2 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating confidence in its growth potential and market position [2][4]. Core Insights - The company reported strong performance in its 2024 interim results, achieving revenue of 1.842 billion yuan, a year-on-year increase of 27.22%, and a net profit attributable to shareholders of 387 million yuan, up 104.51% year-on-year [1]. - The digital maintenance business showed steady growth, with revenue of 1.438 billion yuan, a year-on-year increase of 18.04%. The digital energy business experienced significant growth, with revenue of 378 million yuan, a year-on-year increase of 92.37% [1]. - The company is focusing on AI and digital transformation to enhance operational efficiency, with notable improvements in service quality and manufacturing processes [1]. - The company has initiated a share buyback program, repurchasing 7,665,527 shares, representing 1.70% of the total share capital, reflecting long-term confidence in its business [2]. Financial Performance Summary - For the first half of 2024, the company achieved a revenue of 1.842 billion yuan and a net profit of 387 million yuan, with significant growth rates in both revenue and profit [1]. - The forecast for revenue from 2024 to 2026 is projected to be 4.048 billion yuan, 4.952 billion yuan, and 6.013 billion yuan respectively, with net profits expected to reach 539 million yuan, 644 million yuan, and 809 million yuan [2][3]. - The company has shown a consistent decrease in expense ratios, with sales expense ratio at 13.63%, management expense ratio at 7.10%, and R&D expense ratio at 16.43%, all lower than the previous year [1].

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [1] Core Views - The company has experienced significant growth in net profit and rapid expansion in its digital energy business, with a revenue of approximately 1.842 billion yuan in the first half of 2024, representing a year-on-year increase of 27.22% [5] - The digital maintenance business generated revenue of 1.438 billion yuan, with various product lines showing growth, particularly the TPMS series products which grew by 33.83% [5] - The digital energy business revenue reached 378 million yuan, marking a substantial year-on-year increase of 92.37% [5] - The company’s gross profit margin improved to 56.28%, up 2 percentage points from the previous year, indicating effective cost management and potential for further margin expansion in the digital energy sector [5] - The company has launched new products and upgraded solutions in the digital energy sector, enhancing its competitive edge [6] Financial Performance - The company achieved a net profit of approximately 387 million yuan in the first half of 2024, a year-on-year increase of 104.51% [5] - The projected revenue for 2024-2026 is expected to be 4.025 billion yuan, 4.892 billion yuan, and 5.932 billion yuan respectively, with year-on-year growth rates of 23.80%, 21.55%, and 21.25% [8] - The projected net profit for the same period is expected to be 501 million yuan, 632 million yuan, and 803 million yuan, with growth rates of 179.68%, 26.12%, and 27.00% respectively [8] Market Outlook - The company is well-positioned to benefit from the growing demand in the global digital energy market, as evidenced by the projected increase in public charging stations in the U.S. and Europe [8] - The company has announced a dividend distribution plan, proposing a cash dividend of 4 yuan per 10 shares, which is expected to enhance shareholder returns [8] - The company is expected to maintain a high gross margin advantage as a global enterprise, with a target price range of 33.28 to 38.83 yuan based on a dynamic PE of 30-35 times for 2024 [8]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price indicating a potential upside of over 20% relative to the market index [5][14]. Core Insights - The company reported a significant increase in its financial performance, with a 27.22% year-on-year growth in revenue for H1 2024, reaching 1.842 billion yuan, and a 104.51% increase in net profit, amounting to 387 million yuan [1][2]. - The digital energy business showed robust growth, with a 92.37% year-on-year increase in revenue, contributing 378 million yuan in Q2 2024 [2]. - The company is well-positioned to benefit from the expansion of charging infrastructure in North America, with a low probability of being affected by trade frictions [3]. Financial Performance Summary - For H1 2024, the company achieved a gross margin of 56.28%, an increase of 2.16 percentage points year-on-year [1]. - The company's operating expenses decreased, with a total expense ratio of 37.16%, down 3.04 percentage points year-on-year [1]. - The projected revenue for 2024-2026 is estimated at 4.282 billion yuan, 5.428 billion yuan, and 6.235 billion yuan, respectively, with net profits expected to reach 525 million yuan, 780 million yuan, and 913 million yuan [3][4]. Business Segment Performance - The traditional maintenance business achieved a gross margin of 62.70%, while the digital energy business saw a gross margin of 38.86%, reflecting improvements in product mix and operational efficiency [1]. - The digital energy segment's revenue for Q2 2024 was 218 million yuan, showing a quarter-on-quarter growth of 36.25% [2]. Market Opportunities - The company is identified as a key player in the overseas charging pile market, with established supply chains that mitigate risks from trade tensions [3]. - The U.S. government's NEVI plan is expected to drive demand for charging infrastructure, presenting significant growth opportunities for the company [3].