Core Viewpoint - The main profit sources for the automotive dealership sector of Haowu Co., Ltd. include manufacturer rebates based on sales and profits generated from after-sales services such as maintenance and repairs [1] Summary by Categories Profit Sources - The automotive dealership sector's profits are derived from two primary sources: rebates from manufacturers based on sales performance and profits from after-sales services including maintenance and repairs [1]

Core Viewpoint - Haowu Co., Ltd. (000757) announced that its manufacturing business revenue is solely derived from crankshafts and motor shafts, with no involvement in diesel engines or parts [1] Group 1: Financial Performance - The gross margin for the company's crankshaft products is projected to be 23.47% in 2024 and 21.94% in the first half of 2025 [1] Group 2: Major Clients - Key customers include Chery, Li Auto, Dongfeng Xiaokang (Sailis), BYD, Dong'an Power, Wuling Liuji, Beiqi Foton, GAC, Jianghuai Automobile, Changan, Kubota, Mitsubishi Japan, Proton, and Geely [1]

Core Viewpoint - The company primarily focuses on the production of passenger car crankshafts and currently has no plans to establish a production line for large commercial vehicle crankshafts due to the need for specialized equipment [1] Group 1 - The company announced on November 4 that it mainly produces passenger car crankshafts [1] - Different types of crankshafts require specialized equipment that is not interchangeable [1] - There are no current plans for the company to build a production line for large commercial vehicle crankshafts [1]

Core Viewpoint - The company, Haowu Co., announced that by the first half of 2025, its manufacturing business is expected to achieve revenue of 410 million yuan, with an annual production capacity increased to 3 million units [1] Group 1 - As of the first half of 2025, the company's manufacturing revenue is projected to be 410 million yuan [1] - The annual production capacity for the first half of 2025 has been raised to 3 million units [1] - Future revenue over the next three years will depend on market and customer demand [1]

Group 1 - The company announced on November 4 that it utilizes live streaming through social media to enhance customer conversion rates [1] - By providing detailed introductions of each vehicle's highlights and advantages during online live broadcasts, the company aims to increase the success rate of order transactions [1] - This strategy is expected to boost the company's customer base [1]

Core Insights - The company, Haowu Co., announced its revenue distribution strategy for its crankshaft business, indicating a focus on both traditional and new energy vehicles [1] Revenue Distribution - Traditional fuel vehicle crankshaft business accounts for 30% of total revenue [1] - New energy vehicle crankshaft business, which includes crankshafts for new energy vehicles and non-road machinery engines, constitutes 60% of total revenue [1] - Other new automotive component revenues make up the remaining 10% [1]

Core Viewpoint - Haowu Co., Ltd. announced on November 4 that its controlling shareholder, Tianjin Rongcheng Material Group Co., Ltd., has established a comprehensive marketing service system that integrates raw material supply, value-added processing, terminal product sales, and product processing exports [1] Group 1 - The company holds 100% ownership of the world's fourth-largest iodine mine located in Chile [1] - The main business sectors of its controlling shareholder include steel energy, trade services, digital technology, new energy technology, and cultural health [1] - Currently, there are no plans for the controlling shareholder to inject its assets into the company [1]

Business Overview - The company operates primarily in two segments: automotive parts and automotive sales and services [2][3] - The automotive parts segment focuses on crankshaft products for various domestic and international manufacturers, leading in production and sales in the domestic passenger vehicle crankshaft industry [3] - The automotive sales segment includes brands such as SAIC Volkswagen, FAW Volkswagen, and new energy brands like Xiaomi and Avita [2][3] Financial Performance - In 2024, the company reported revenue of CNY 3.595 billion, a decrease of 6.73% year-on-year, with a net loss of CNY 20.057 million, improving by 84.05% compared to the previous year [3] - The crankshaft production reached 2.549 million units in 2024, a year-on-year increase of 43.89%, while sales were 2.531 million units, up 40.84% [3] - For the first three quarters of 2025, revenue was CNY 2.183 billion, down 16.98%, but net profit increased by 279.04% to CNY 42.775 million [3] Product and Market Strategy - The company’s crankshaft products have a gross margin of 23.47% in 2024 and 21.94% in the first half of 2025 [4] - The product layout follows a "361" strategy: 30% from traditional fuel vehicle crankshafts, 60% from new energy vehicle crankshafts, and 10% from other new automotive parts [5] - Plans for a new production line for new energy vehicle crankshafts with an investment of CNY 200 million to produce 600,000 units annually [8] Customer and Revenue Sources - Major clients include Chery, Li Auto, BYD, and others in the automotive sector [4] - The automotive sales segment profits mainly from dealer rebates and after-sales services [6] Future Directions - The company aims to enhance its presence in the new energy vehicle sector and precision manufacturing [8] - Adjustments in the automotive sales strategy include optimizing brand structure and improving operational efficiency through a main store + satellite store model [8] Shareholder Information - The controlling shareholder, Tianjin Rongcheng Material Group, has no current plans to inject assets into the listed company [9]

Group 1 - The core point of the article indicates that Haowu Co., Ltd. has experienced a decrease in the number of shareholders for the second consecutive period, with a reduction of 2,151 shareholders, representing a 7.74% decline compared to the previous period [2] - As of the latest report, Haowu's closing price is 5.92 yuan, reflecting a decrease of 0.67%, while the stock price has increased by 7.05% cumulatively since the concentration of shares began [2] - The company's third-quarter report shows that it achieved an operating income of 2.183 billion yuan, a year-on-year decrease of 16.98%, while net profit reached 42.7752 million yuan, a significant year-on-year increase of 279.04% [2]

Market Overview - The automotive service sector increased by 1.02% on November 3, with Altec leading the gains [1] - The Shanghai Composite Index closed at 3976.52, up 0.55%, while the Shenzhen Component Index closed at 13404.06, up 0.19% [1] Stock Performance - Altec (300825) closed at 11.72, with a rise of 2.45% and a trading volume of 227,000 shares, amounting to a transaction value of 266 million yuan [1] - Other notable performers included: - Sunbo Holdings (600653) at 2.10, up 2.44% [1] - Beiba Media (600386) at 4.95, up 2.06% [1] - China Automotive Research (601965) at 17.44, down 0.40% [2] Capital Flow Analysis - The automotive service sector experienced a net outflow of 8.8372 million yuan from institutional investors and 6.992 million yuan from speculative funds, while retail investors saw a net inflow of 15.826 million yuan [2] - Altec had a net inflow of 7.6732 million yuan from institutional investors, but a net outflow of 9.5789 million yuan from retail investors [3] - China Automotive Research faced a significant net outflow of 4.0169 million yuan from institutional investors, while retail investors contributed a net inflow of 5.3581 million yuan [3]