证券代码：688208 证券简称：道通科技 深圳市道通科技股份有限公司 投资者关系活动记录表 编号：2024-002 投资者 □特定对象调研 □分析师会议 □媒体采访 □业绩说明会 关系活 □新闻发布会 □路演活动 □现场参观 □一对一沟通 动类别 ■其他（电话会议） 参与单 PAG Investment Ronnie 位及人 安信证券股份有限公司 袁子翔 员 百年保险资产管理有限责任公司 陈兴 北京和聚投资管理有限公司 马蘅 博时基金管理有限公司 廖常青/万丽 博时基金管理有限公司 于福江 渤海汇金证券资产管理有限公司 徐中华 承珞（上海）投资管理中心（有限合伙） 马行川 ...

Investment Rating - The report maintains a "Buy-A" investment rating with a target price of 31.8 CNY for the next six months [20][23]. Core Insights - The company has shown significant recovery in profitability due to the resurgence of traditional business and the expansion of charging pile operations, leading to a notable increase in revenue and net profit [1][18]. - In 2023, the company achieved a revenue of 3.251 billion CNY, representing a year-on-year growth of 43.5%, and a net profit of 179.2 million CNY, up 75.66% year-on-year [18]. - The company's new energy business has entered a growth phase, with revenue reaching 567 million CNY, a staggering increase of 493.2% year-on-year [18]. Financial Performance - The company reported a significant improvement in profit margins in 2023, with a net profit margin of 5.5%, up from 4.5% in 2022 [10]. - The sales, management, and R&D expense ratios for 2023 were 15.01%, 8.71%, and 16.46%, respectively, showing a decrease compared to the previous year [2]. - The projected revenues for 2024, 2025, and 2026 are 3.872 billion CNY, 4.609 billion CNY, and 5.516 billion CNY, respectively, indicating a strong growth trajectory [6][24]. Product Development - In 2023, the company launched three new charging pile products, enhancing its product lineup to meet diverse charging needs [3]. - The company has established partnerships with over 10 leading vertical media and is constructing more than 30 cooperative demonstration stations globally, enhancing its market presence [3]. Market Position - The company has a strong competitive advantage in the automotive diagnostic business, with a stable market structure and significant growth potential in the new energy sector [6][19]. - North America remains the primary revenue contributor, with 1.687 billion CNY in revenue for 2023, reflecting a year-on-year growth of 62.54% [18].

Investment Rating - The report maintains a "Buy-A" investment rating with a target price of 31.8 CNY for the next six months, corresponding to a PE ratio of 30 times for 2024 [5][30]. Core Insights - The company achieved a revenue of 3.2512 billion CNY in 2023, representing a year-on-year growth of 43.50%. The automotive electronic diagnostics business showed significant recovery, with a year-on-year increase of 24.1%, while the new energy business experienced explosive growth, achieving a revenue of 567 million CNY, up 493.2% year-on-year [18][29]. - The company’s profit margin improved significantly in 2023, primarily due to the new energy business entering a growth phase, which diluted various expense ratios. The sales, management, and R&D expense ratios were 15.01%, 8.71%, and 16.46%, respectively, showing a year-on-year decrease of 1.30, 0.41, and 9.09 percentage points [2][29]. - The company is expanding its overseas production capacity, including a new factory in North Carolina, USA, which is expected to start production by the end of 2023. This move aims to mitigate supply chain risks associated with the Infrastructure Investment and Jobs Act [16][29]. Financial Performance - The company reported a net profit of 1.792 billion CNY in 2023, a year-on-year increase of 75.66%, with a non-recurring net profit of 3.67 billion CNY, up 262.50% year-on-year [18][29]. - The projected revenues for 2024, 2025, and 2026 are 3.8719 billion CNY, 4.609 billion CNY, and 5.5162 billion CNY, respectively, with net profits expected to be 477.5 million CNY, 620.5 million CNY, and 808.1 million CNY [4][33]. - The company’s net profit margin is projected to improve from 5.5% in 2023 to 12.3% in 2024, and further to 14.6% by 2026 [6][33].

证券代码：688208 证券简称：道通科技 深圳市道通科技股份有限公司 投资者关系活动记录表 编号：2024-001 ■特定对象调研 □分析师会议 投资者关系 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 活动类别 ■现场参观 □一对一沟通 ■电话会议 □其他 参与单位 浙商证券：刘雯蜀、刘静一（特定对象调研、现场参观） 易方达：万宇翔、胡天乐（电话会议） 及人员 和谐汇一：凌晨（特定对象调研、现场参观） 2024年4月2日09:00-10:00（特定对象现场参观调研） 时间 2024年4月2日10:00-11:00（电话会议） 2024年4月2日16:00-17:00（特定对象现场参观调研） 地点 公司、电话会议 董事会秘书：李雄伟 接待人员 投资者关系总监：李律 ...

中信证券股份有限公司 关于深圳市道通科技股份有限公司 2023年持续督导工作现场检查报告 上海证券交易所： 根据《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等有 关法律、法规的规定，中信证券股份有限公司（以下简称"中信证券"、"保荐人"） 作为正在履行深圳市道通科技股份有限公司（以下简称"道通科技"、"上市公司"、 "公司"）持续督导工作的保荐人，对 2023 年度（以下简称"本持续督导期间"） 的规范运作情况进行了现场检查，现就现场检查的有关情况报告如下： 一、本次现场检查的基本情况 （一）保荐人 中信证券股份有限公司 （三）现场检查时间 2024 年 3 月 13 日、2024 年 3 月 27 日 （四）现场检查人员 黄新炎、邱志飞、张腾、王典 （五）现场检查内容 现场检查人员对本持续督导期内发行人公司治理和内部控制情况、信息披露 情况、公司的独立性以及与控股股东、实际控制人及其他关联方资金往来情况、 募集资金使用情况、关联交易、对外担保、重大对外投资情况、经营状况等方面 进行了现场检查，具体检查内容详见本报告"二、本次现场检查主要事项及意见"。 （六）现场检查手段 1 本次现场检查的 ...

中国资产评估协会 资产评估业务报告备案回执 | 报告编码: | 4747110001202400040 | | --- | --- | | 合同编号: | 23192 | | 报告类型: | 法定评估业务资产评估报告 | | 报告文号: | 深中联评报字[2023]第221号 | | 报告名称: | 深圳市塞防科技有限公司拟转让5%股权涉及的公司 股东全部权益价值评估项目 | | 评估结论: | 126,013,156.01元 | | 评估报告日: | 2023年12月25日 | | 评估机构名称: | 深圳中联资产评估有限公司 | | 签名人员: | 王倩 (资产评估师) 会员编号:47090010 | | | 韩英 (资产评估师) 会员编号:47200079 | (可扫描二维码查询备案业务信息) 说明:报告备案回执仅证明此报告已在业务报备管理系统进行了备案,不作为 协会对该报告认证、认可的依据,也不作为资产评估机构及其签字资产评估专 业人员免除相关法律责任的依据。 备案回执生成日期:2024年04月02日 本报告依据中国资产评估准则编制 深圳市塞防科技有限公司拟转让 5%股权涉及的公司股东全部权益价值评估 ...

| 股票代码：688208 | 股票简称：道通科技 公告编号：2024-036 | | --- | --- | | 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 关于参加 2023 年度行业集体业绩说明会的公告 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。 二、说明会召开的时间、方式 （一）会议线上交流时间：2024 年 4 月 11 日（星期四）下午 15:00-17:00 （二）会议召开方式：线上文字互动 重要内容提示： ● 会议线上交流时间：2024 年 4 月 11 日（星期四）下午 15:00-17:00 ● 会议召开方式：线上文字互动 ● 线上文字互动平台：上海证券交易所（以下简称"上交所"）上证路演中心 （http://roadshow.sseinfo.com/） ● 投资者可于 2024 年 4 月 10 日（星期三）16:00 前通过公司邮箱（ir@autel.com） 将需要了解和关注的问题提前提供给公司，公司将在业绩说明会线上文字互动环节对 投资者普遍关注的问题进行 ...

[ T able_StockInfo] 2024 年 04 月 01 日 证券研究报告•2023 年年报点评 买入 （维持） 当前价：19.47 元 道通科技（688208）计算机 目标价：——元（6 个月） 体系搭建完善，美国工厂已经投产。公司充电桩产品在性能方面可全面对标 ABB、西门子等国际领先企业，在供应链管理、智能化交互等方面甚至更具优 势；与国内布局出海的其他桩企相比，公司在海外渠道把控、运营经验以及品 牌影响力等方面则有更深的积累，同时构建起充电云平台功能矩阵，包含充电 运营、远程运维、充电 APP 等。此外，2023 年年底，公司美国工厂已经正式 建成投产，后续有望降低《基础设施法案》带来的供应链风险，迎来产品规模 化放量拐点，实现爆发式增长。 [Table_Author] 分析师：王湘杰 执业证号：S1250521120002 电话：0755-26671517 邮箱：wxj@swsc.com.cn 分析师：邓文鑫 执业证号：S1250523070002 电话：15123996370 邮箱：dwx@swsc.com.cn | --- | --- | |--------------------- ...

| 证券代码：688208 | 证券简称：道通科技 | 公告编号：2024-035 | | --- | --- | --- | | 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回购公司股份的进展公告 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 | 2023/12/19 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2023 年 12 月 18 | 日~2024 | 年 | 12 月 | 17 | 日 | | 预计回购金额 | 10,000 万元~20,000 | 万元 | | | | | | 回购用途 | 用于员工持股计划或股权激励 | | | | | | | 累计已回购股数 | 7,665,527 股 | | | | | | | 累计已回购股数占总股本比例 | 1.70% | | | | | | | 累计已回购金额 | 14,65 ...

Financial Performance - The company's operating revenue for 2023 reached ¥3,251,152,240.25, representing a 43.50% increase compared to ¥2,265,555,176.93 in 2022[38]. - The net profit attributable to shareholders for 2023 was ¥179,233,332.27, a 75.66% increase from ¥102,033,256.64 in the previous year[38]. - The net cash flow from operating activities improved to ¥434,056,417.87 in 2023, compared to a negative cash flow of -¥382,964,140.27 in 2022, marking a 213.34% increase[38]. - The company's total assets as of the end of 2023 were ¥5,576,848,578.52, a 6.56% increase from ¥5,233,545,202.19 at the end of 2022[38]. - The basic earnings per share for 2023 was ¥0.40, up 73.91% from ¥0.23 in 2022[41]. - The net profit excluding non-recurring gains and losses was 366.83 million RMB, showing a significant year-on-year increase of 262.50%[53]. - The company reported a net profit of ¥71,969,288.54 in Q1 2023, with total revenue of ¥706,281,737.50 for the same period[42]. - The net profit attributable to shareholders for Q2 2023 was ¥117,052,668.82, with revenue of ¥741,394,061.86[42]. - The company experienced a net loss of -¥87,297,667.59 in Q4 2023, despite generating revenue of ¥1,061,563,149.46[42]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 4 RMB per share, totaling approximately 176.36 million RMB, which represents 98.40% of the net profit attributable to shareholders for the year 2023[15]. - As of December 31, 2023, the company's distributable profits amounted to 901.99 million RMB[15]. - The company does not plan to increase capital reserves or issue bonus shares[15]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[14]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[17]. - The company has not violated any decision-making procedures for providing guarantees[19]. - The company has ensured the accuracy and completeness of the annual report, with all board members present at the meeting[14]. Research and Development - The R&D expenditure as a percentage of operating revenue decreased to 18.34% in 2023, down 8.67 percentage points from 27.01% in 2022[41]. - The company achieved a total R&D investment of approximately ¥596.13 million, a decrease of 2.58% compared to the previous year, with R&D expenses accounting for 18.34% of operating revenue, down 8.67 percentage points[182]. - The R&D team consists of 887 personnel, accounting for 37.35% of the total workforce, with a strong focus on core technologies in electric vehicle charging and automotive diagnostics[163]. - The company has accumulated 1,650 patents and software copyrights, including 224 invention patents and 983 design patents, showcasing its commitment to innovation[163]. - The company is focused on continuous investment in core technologies, including power electronics and energy management, to support the upgrade of the new energy automotive market[156]. Product Development and Innovation - The company launched three key products: DC HiPower, DC Compact, and AC Ultra, enhancing customer experience and investment returns[57]. - The DC HiPower product can achieve a maximum output power of 640kW, allowing for a range of 400 kilometers (250 miles) with just 10 minutes of charging[57]. - The DC Compact product supports a maximum charging power of 40kW, enabling a range of 130 kilometers (80 miles) with 30 minutes of charging[60]. - The AC Ultra product can charge two vehicles simultaneously with a maximum output of 19.2kW, providing a range of 120 kilometers (75 miles) in one hour[60]. - The company launched the innovative MS909CEV product, which supports over 95% of new energy and fuel vehicle models, quickly becoming the preferred diagnostic solution in the domestic market[67]. - The company developed a SOH (State of Health) assessment solution with over 95% accuracy, revolutionizing used car evaluations and battery recycling processes[69]. - The company launched several new products, including the MaxiSys Ultra and MaxiSys M919 diagnostic systems, and the AC Ultra series of charging piles[92]. - The company has launched new product series, including TPMS and ADAS, to maintain its competitive edge in the automotive diagnostics market[164]. Market Expansion and Strategy - The company achieved significant breakthroughs in the European market by signing contracts with several regional large clients and forming strategic partnerships with well-known international energy companies[63]. - In the North American market, the company signed multiple contracts with large enterprises ranked in the global top 50, leading to exponential growth in strategic customer reserves and establishing itself as a leading Chinese company in the region[62]. - The company established a production facility in North Carolina, USA, to comply with the new requirements of the Biden administration's Infrastructure Act, ensuring stable product supply to the US market[66]. - The company has established overseas branches in key markets like North America and Europe to mitigate risks associated with market fluctuations and trade policies[186]. - The company is focused on addressing the risk of talent loss in the technology-intensive industry, which could impact its competitive edge if not managed properly[137]. Supply Chain and Operational Efficiency - The company’s procurement strategy focuses on optimizing costs through centralized purchasing and leveraging overseas supply resources[98]. - The company has increased its inventory of key chips since 2019 to mitigate supply chain challenges, particularly in the semiconductor industry[199]. - The global supply chain, especially for imported ICs and electronic components, has faced significant challenges since 2020, impacting production operations[199]. - The company aims to implement multiple backups in its supply chain system to ensure operational stability amid geopolitical uncertainties[200]. - The company is preparing for potential political risks and will align its product delivery timelines with industry benchmarks[200]. Industry Trends and Market Outlook - The global electric vehicle sales exceeded 10 million units in 2022, with a penetration rate of 14%, up from approximately 9% in 2021 and less than 5% in 2020[104]. - The International Energy Agency (IEA) predicts that electric vehicle sales will reach 14 million units by the end of 2023, representing a year-on-year growth of 35%[104]. - The U.S. charging station market is projected to grow from 1.5 million units to 29 million units by 2030, with a compound annual growth rate of 39%[106]. - The European electric vehicle market is projected to reach 65 million units by 2030, requiring 34 million charging stations, including 3.2 million public charging stations[108]. - The TPMS market is experiencing significant growth opportunities due to mandatory installation requirements in various regions[200]. Risk Management - The company faces risks related to technological advancements and potential talent loss, which could impact its competitive advantage in the automotive diagnostics industry[166][167]. - The geopolitical situation, including the Russia-Ukraine crisis and US interest rate hikes, presents greater uncertainty for global economic development[200]. - The company is committed to adjusting production and sales arrangements in response to potential supply chain disruptions caused by trade tensions[199].