股票代码：688208 股票简称：道通科技 公告编号：2026-005 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 2025 年年度业绩预告 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。 一、本期业绩预告情况 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 12 月 31 日。 （二）业绩预告情况 1、预计 2025 年年度实现归属于母公司所有者的净利润为 90,000 万元至 93,000 万元，与上年同期相比，将增加 25,907 万元至 28,907 万元，同比增长 40.42%至 45.10%。 2、预计 2025 年年度实现归属于母公司所有者的扣除非经常性损益的净利润为 87,000 万元至 90,000 万元，与上年同期相比，将增加 32,923 万元至 35,923 万元， 同比增长 60.88%至 66.43%。 （三）本次业绩预告未经注册会计师审计。 二、上年同期业绩情况和财务状况 上年同期归属于母公司所有者的净利润：64,092.52 万元。 上年同期归属 ...

Core Viewpoint - The company expects a significant increase in net profit for 2025, driven by its embrace of AI technologies and innovative product offerings in various sectors [1] Financial Performance - The projected net profit attributable to shareholders for 2025 is between 900 million to 930 million yuan, representing a year-on-year increase of 40.42% to 45.10% [1] - The projected net profit after deducting non-recurring gains is expected to be between 870 million to 900 million yuan, indicating a year-on-year growth of 60.88% to 66.43% [1] Business Strategy - The company is focusing on AI-driven solutions, particularly in the fields of vehicle diagnostics and smart energy management, which are key to its rapid growth [1] - In the AI + diagnostics sector, the company is enhancing its AI multimodal voice models and AIAgents applications, leading to high customer recognition and significant sales growth, especially in TPMS products [1] - In the AI + charging sector, the company is developing end-to-end system capabilities, including power modules and intelligent operations, to support major global clients across various industries [1]

Core Viewpoint - Daotong Technology (688208) expects a net profit attributable to shareholders of 900 million to 930 million yuan for the year 2025, representing a year-on-year growth of 40.42% to 45.1% [1] Group 1: Financial Performance - The company anticipates a significant increase in net profit for 2025, with projections indicating a rise to between 900 million and 930 million yuan [1] - This expected growth reflects a robust year-on-year increase, highlighting the company's strong financial trajectory [1] Group 2: Business Strategy and Innovation - Daotong Technology is fully embracing AI, utilizing smart vehicle diagnostic terminals and intelligent energy hubs as business entry points [1] - The company is committed to providing intelligent services to global customers, which has driven rapid performance growth [1] - In the AI + diagnostics sector, the company is deepening its applications of AI multimodal voice models and AI Agents, leading to the development of new products that have received high customer recognition [1] - The TPMS product line continues to experience rapid growth, contributing to the overall performance increase [1]

Core Viewpoint - The company, Daotong Technology, anticipates a significant increase in net profit for the year 2025, driven by its embrace of AI and smart services [1] Financial Projections - The expected net profit attributable to the parent company for 2025 is projected to be between 900 million to 930 million yuan, representing an increase of 259 million to 289 million yuan compared to the previous year, which corresponds to a year-on-year growth of 40.42% to 45.10% [1] - The anticipated net profit, excluding non-recurring gains and losses, is expected to be between 870 million to 900 million yuan, reflecting an increase of 329 million to 359 million yuan year-on-year, translating to a growth of 60.88% to 66.43% [1] - The net profit for the previous year was 641 million yuan, while the net profit excluding non-recurring items was 541 million yuan [1] Business Strategy - The company is fully embracing AI, utilizing smart vehicle diagnostic terminals and intelligent energy hubs as business entry points [1] - It continues to provide intelligent services to global customers, which has driven rapid growth in performance [1] - The company is actively exploring the commercialization of industry large models in the field of embodied intelligent clusters [1]

Group 1 - The core theme of CES 2026 is the integration and industrialization of AI technology, with Daotong Technology showcasing advancements in "AI + Robotics" and "AI + Charging" [3][4] - Daotong Technology's embodied intelligent cluster, consisting of smart charging robots and inspection robots, demonstrates a closed-loop capability from AI decision-making to on-site execution [3][4] - The company introduced the V2G home charging station AC Compact Gen2, enabling bidirectional energy exchange between vehicles and the grid, and the MaxiCharger DC50, which was selected as "Best of CES 2026" for its high conversion rate and modular design [4] Group 2 - Daotong Technology's revenue for the first three quarters of 2025 increased by 24.69% year-on-year, with a 61.81% growth in net profit attributable to the parent company, indicating the gradual realization of AI technology applications [4] - The establishment of Shenzhen Daohengtongtai Robot Co., Ltd. in 2024 aims to accelerate the R&D and implementation of embodied intelligence in smart transportation and energy sectors [4] - As AI continues to integrate deeply into industries, companies with closed-loop capabilities in specific scenarios are expected to gain a competitive edge in the process of intelligent transformation [4]

Core Viewpoint - The trend of A-share companies "going south" to list on H-shares is gaining momentum in early 2026, driven by a combination of policy support, financing needs, and internationalization strategies [1][2][3] Group 1: Companies Going Public - Six A-share companies, including Jucheng Co., Penghui Energy, and Zhengtai Electric, have announced plans for H-share listings from January 1 to January 8, 2026 [1] - Four additional companies, including Jingwang Electronics and Yifang Bio, have submitted prospectuses to the Hong Kong Stock Exchange [1] - The trend is primarily led by technology companies, with a focus on sectors such as semiconductor design, energy storage, and smart mobility [1] Group 2: Market Dynamics - The 2026 "southbound" trend is a continuation of the 2025 A+H listing boom, with a significant increase in active listing applications in Hong Kong [2] - In 2025, 19 A-share companies listed on the Hong Kong market, raising a total of approximately 139.99 billion HKD, nearly half of the total IPO amount for the year [2] - The average time for A+H listings in 2025 was reported to be 4 to 6 months, with the fastest taking only about 3 months [2] Group 3: Strategic Motivations - A-share companies are pursuing H-share listings to raise funds for global expansion and enhance their competitive position in international markets [3][4] - Companies like Jucheng Co. and Penghui Energy emphasize that listing in Hong Kong will help them build a diversified capital operation platform and support overseas business development [3] - The need for substantial foreign currency funding for overseas production and supply chain establishment is a key driver for these companies [4] Group 4: Regulatory Environment - The favorable regulatory environment, including cooperation measures between mainland and Hong Kong regulatory bodies, has made cross-border listings more feasible [4] - The Chinese Securities Regulatory Commission has expressed support for leading mainland companies to list in Hong Kong, facilitating a quicker approval process for qualified firms [4] - The current valuation of Hong Kong stocks is perceived to be lower than that of A-shares, prompting some companies to accept lower valuations to secure international funding and prepare for stricter overseas disclosure standards [4] Group 5: Market Expectations - The IPO market in Hong Kong is expected to perform well in 2026, with projections of over 300 billion HKD in IPO scale and 150 to 200 projects [4] - The growth in the MSCI China Index's earnings is anticipated to reach 14% or higher, driven by sectors such as high-end manufacturing and companies with global expansion capabilities [4]

Core Insights - The article highlights the advancements of Daotong Technology in integrating AI technology into various vertical scenarios, particularly in the fields of embodied intelligence and energy management solutions showcased at CES 2026 [1][6]. Group 1: Embodied Intelligence in Infrastructure - Daotong Technology showcased its embodied intelligence solutions for infrastructure, including automated charging robots for fleets and inspection robots designed for critical scenarios such as energy and transportation [2]. - The intelligent charging robot can autonomously connect and disconnect charging guns, significantly reducing reliance on human labor and enhancing operational consistency, particularly for autonomous vehicle fleets [2]. - The inspection robots are designed for high-frequency inspections in key areas such as campuses, energy stations, and transportation infrastructure, demonstrating the company's commitment to engineering solutions in embodied intelligence [2]. Group 2: Future City Concept - Daotong Technology presented a "Future City Panorama" at CES, illustrating the integration of embodied intelligence and AI scheduling logic in urban infrastructure, showcasing energy supply, facility inspection, and urban operation [3]. - The company has established Shenzhen Daohengtongtai Robot Co., Ltd. to focus on the development and implementation of embodied intelligence capabilities in smart transportation, smart parks, and smart energy [3]. Group 3: Smart Charging Network - The company introduced its V2G home products and direct current charging product matrix, emphasizing a comprehensive capability from energy supply to operational management, leading the development of smart charging network solutions [4]. - The V2G technology allows electric vehicles to not only draw power from the grid but also return power to homes or the grid, optimizing energy management through AI scheduling strategies [4]. - Daotong Technology also showcased its cloud-based operational management capabilities, providing integrated management from deployment to revenue optimization, transitioning charging operations to intelligent management [4]. Group 4: Addressing AI Energy Demand - Daotong Technology is contributing to building a more resilient and efficient energy supply network, addressing the "AI electricity shortage" issue in North America with its integrated storage and charging solutions [5]. Group 5: Strategic Focus on AI Integration - The company is focusing on three core business areas: AI diagnostics, AI charging, and AI robotics, aiming to deepen the integration of AI technology with business scenarios and become a leader in the commercialization of AI applications [6]. - This strategic approach is expected to translate into steady performance growth for the company as it addresses real industrial challenges through its AI initiatives [6].

Core Viewpoint - The company showcased its integration of AI into vertical scenarios at CES 2026, emphasizing its commitment to becoming a leader in the commercialization of AI large models [1][3]. Group 1: AI Integration and Product Offerings - The company presented two main capabilities: embodied intelligence for engineering implementation and a new generation of smart charging network systems [1][2]. - The smart charging robot can automate key actions like plugging and unplugging, significantly reducing reliance on human labor and enhancing operational consistency [2]. - The wheel-based inspection robot is designed for critical scenarios such as campuses and energy facilities, providing continuous monitoring and forming a closed-loop capability with cloud AI analysis [2]. Group 2: Business Strategy and Market Position - The company aims to deepen the integration of AI technology with business scenarios and organizational changes, striving to become a leader in AI large model commercialization [3][4]. - The company has three main business systems: intelligent maintenance terminals, energy intelligence hubs, and embodied intelligent robots, focusing on practical solutions for real-world problems [3]. - In the first three quarters of 2025, the company achieved revenue of 3.496 billion yuan, a year-on-year increase of 24.69%, and a net profit of 718 million yuan, reflecting the effective transformation of AI capabilities into stable business growth [4].

Group 1 - Lenovo and NVIDIA announced a collaboration to launch the "Lenovo AI Cloud Super Factory," which aims to significantly reduce the "time to first token" for AI deployment and scale up to 100,000 GPUs to support trillion-parameter AI models [2] - Datong Technology is advancing partnerships in the autonomous driving sector, showcasing a smart charging robot capable of automated charging tasks, and introducing a new generation of intelligent charging network systems at CES 2026 [2] - Zhiyuan Robotics released the Genie Sim 3.0, an open-source simulation platform driven by a large language model, which integrates 3D reconstruction and visual generation, allowing for rapid scene generation and a comprehensive evaluation system covering over 100,000 scenarios [2] Group 2 - Roborock, a Chinese vacuum cleaner manufacturer, unveiled the Saros Rover, a stair-climbing vacuum cleaner equipped with AI and motion sensors, demonstrating its ability to navigate stairs and uneven surfaces [2]

Core Viewpoint - Daotong Intelligent has initiated the IPO process again, aiming to enhance its governance structure and internal controls while competing against DJI in the drone market [1][5]. Group 1: Company Overview - Daotong Intelligent, established in 2014, is a leading provider of drone digital solutions with a global presence, including subsidiaries and R&D bases in the US, Germany, Italy, Singapore, and Vietnam [1]. - The company was recognized as a unicorn at the 7th World Drone Conference and is classified as a national-level "specialized and innovative" small giant enterprise [1]. Group 2: IPO Process - Daotong Intelligent has resumed its IPO process with Guotai Junan Securities as the counseling institution, following a previous attempt in 2021 that was terminated after five rounds of counseling [1][5]. - The company aims to complete the IPO within the year, which would mark the second IPO for founder Li Hongjing [5]. Group 3: Competitive Landscape - DJI holds over 70% of the global consumer drone market and leads in industrial applications, while Daotong Intelligent seeks to differentiate itself through customized solutions in professional surveying and inspection [2]. - The competition between Daotong Intelligent and DJI has involved legal disputes, including patent infringement lawsuits initiated by DJI in 2016, leading to a prolonged legal battle [2][3]. Group 4: Financial Performance - Daotong Technology, the parent company of Daotong Intelligent, plans a secondary listing on the Hong Kong Stock Exchange, with reported revenue of 2.345 billion RMB and a profit of 455 million RMB for the first half of 2025 [6]. - In the first nine months of 2025, Daotong Technology achieved revenue of 3.496 billion RMB, a year-on-year increase of 24.69%, and a net profit of 733 million RMB, up 35.49% [6].