证券代码：301345 证券简称：涛涛车业 公告编号：2025-042 规、部门规章、规范性文件、深圳证券交易所业务规则和《浙江涛涛车业股份有 限公司章程》等规定。 现场会议时间为：2025 年 9 月 10 日（星期三）14:30； 网络投票时间为：通过深圳证券交易所交易系统进行网络投票的具体时间为 通过深圳证券交易所互联网投票系统进行网络投票的具体时间为 2025 年 9 月 10 日 9:15—15:00。 召开。 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 浙江涛涛车业股份有限公司（以下简称"公司"）于 2025 年 8 月 25 日召开 了第四届董事会第八次会议，审议并通过了《关于召开 2025 年第一次临时股东 大会的议案》。公司决定于 2025 年 9 月 10 日召开 2025 年第一次临时股东大会。 现将有关事项通知如下： 一、召开会议的基本情况 本次股东大会将通过深圳证券交易所交易系统和互联网投票系统向公司股 东提供网络形式的投票平台，公司股东可以在网络投票时间内通过深圳证券交易 所交易系统或互联网投票系统对本次股东大会审议事项进行投票 ...

Core Viewpoint - Zhejiang Taotao Vehicle Co., Ltd. has disclosed its fundraising management and usage for the first half of 2025, detailing the total amount raised, expenditures, and remaining funds from its initial public offering. Fundraising Basic Situation - The actual amount raised from the IPO was RMB 190,727.75 million after deducting underwriting and sponsorship fees of RMB 10,037.54 million, with the net amount after other expenses being RMB 186,521.97 million [1][2]. Fundraising Usage and Balance - Total net fundraising amount: RMB 186,521.97 million - Total project investment: RMB 142,224.97 million - Remaining funds for liquidity: RMB 34,555.49 million - Actual remaining funds: RMB 34,063.47 million, with a difference of RMB 492.02 million due to interest income and foreign exchange losses [2][3]. Fundraising Storage and Management - The company has established a dedicated account for fundraising, adhering to relevant regulations and has signed a tripartite supervision agreement with banks to ensure proper management [3][4]. Fundraising Investment Projects - The company has approved the use of excess fundraising for various projects, including a total of RMB 37,000 million for liquidity and bank loan repayment, and has invested RMB 15,913.34 million in new projects [5][6]. - As of June 30, 2025, the company has invested RMB 41,831.17 million in the "Annual Production of 30,000 Smart Electric Low-Speed Vehicles" project and RMB 1,454.33 million in the marketing network construction project [5][12]. Abnormal Situations in Fundraising Investment Projects - No abnormal situations have been reported in the fundraising investment projects [7]. Changes in Fundraising Investment Projects - The company has made adjustments to the implementation of certain projects, including changes in investment amounts and project management structures, with the total adjusted investment for the "Annual Production of 30,000 Smart Electric Low-Speed Vehicles" project now set at USD 6,600 million [8][12]. Fundraising Project Transfer or Replacement - The company has approved the use of fundraising to replace self-raised funds previously invested in fundraising projects, totaling RMB 31,555.08 million [9][10]. Issues in Fundraising Usage and Disclosure - There are no significant issues reported in the usage and disclosure of fundraising for the half-year period [11].

编制单位： 浙江涛涛车业股份有限公 司 单位：人民币万元 占用方与上市公司 上市公司核算的 2025年期初 2025 年1-6月偿还 2025年6月末 非经营性资金占用 资金占用方名称 累计发生金额 资金的利 息 占用形成原因 占用性质 的关联关系 会计科目 占用资金余额 累计发 生金额 占用资金余额 （不含利息） （如有） 控股股东 、实际控制人及其附属企业 小 计 前控股股东 、实际控制人及其附属企业 小 计 其他关联方及其附属企业 小 计 总 计 往来方与上市公司 上市公司核算的 2025年期初 2025 年1-6月偿还 2025年6月 往来性质（经营性往 其它关联资金往来 资金往来方名称 累计发生金额 资金的利 息 往来形成原因 的关联关系 会计科目 往来资金余额 累计发 生金额 往来资金余额 来、 非经营性往来 ） （不含利息） （如有） 控股股东 、实际控制人及其附属企业 BAIKE HOLDING (SINGAPORE) PRIVATE LIMITED 全资子公司 其他应收款 3,306.66 1,525.40 4,832.06 资金拆借 非经营性往来 深圳百客新能源有限公司 全资子公司 其他应 ...

冉成伟 王永恒 | 浙商证券股份有限公司 | | | | | | | --- | --- | --- | --- | --- | --- | | 关于浙江涛涛车业股份有限公司 | | | | | | | 保荐机构名称：浙商证券股份有限公司 | | | 被保荐公司简称：涛涛车业 | | | | 保荐代表人姓名：冉成伟 | 联系电话：0571-87902572 | | | | | | 保荐代表人姓名：王永恒 | 联系电话：0571-87902572 | | | | | | 一、保荐工作概述 | | | | | | | 项目 工作内容 | | | | | | | （1）是否及时审阅公司信息披露文件 | | | 是 | | | | （2）未及时审阅公司信息披露文件的次数 | | | | 不适用 | | | （1）是否督导公司建立健全规章制度（包括但不限于防 | | | | | | | 止关联方占用公司资源的制度、募集资金管理制度、内 | | | | | 是 | | 控制度、内部审计制度、关联交易制度） | | | | | | | （2）公司是否有效执行相关规章制度 | | | 是 | | | | 保荐人按季度赴银行现 ...

2025.08.25 8月25日晚间，沪深两市多家上市公司发布公告，以下是第一财经对一些重要公告的汇总，供投资者参 考。 【品大事】 汇顶科技：公司总裁柳玉平因涉嫌内幕交易被证监会立案 汇顶科技公告，公司总裁柳玉平于2025年8月22日收到中国证券监督管理委员会下发的《立案告知 书》，因涉嫌内幕交易，根据《中华人民共和国证券法》《中华人民共和国行政处罚法》等法律法规， 中国证监会决定对柳玉平进行立案。本次立案系针对柳玉平个人，与公司日常经营管理和业务活动无 关，不会对公司及子公司生产经营活动产生影响。 东风科技：东风投资将成为公司间接股东 东风科技公告，8月22日，间接股东东风汽车集团股份有限公司与东风汽车集团(武汉)投资有限公司 （简称"东风投资"）签署了《东风汽车集团(武汉)投资有限公司与东风汽车集团股份有限公司之吸收合 并协议》，东风投资拟吸收合并东风集团股份。本次间接股东吸收合并完成后，东风投资将成为公司间 接股东。本次间接股东吸收合并不会导致公司控股股东、实际控制人发生变化，不会对公司正常生产经 营活动构成重大影响。 华依科技：筹划发行H股股票并在香港联交所上市 华依科技公告，公司为满足国际化战略及 ...

Investment Rating - The investment rating for the company is "Buy" [4] Core Views - The company reported a revenue of 1.71 billion yuan for the first half of 2025, representing a year-on-year growth of 23%, and a net profit attributable to shareholders of 340 million yuan, which is an 88% increase year-on-year [1] - The company is expected to maintain strong growth due to robust production and sales, with its own brand sales accounting for 65% of total sales, indicating increasing brand recognition [1][2] - The company has made significant progress in the electric low-speed vehicle segment, achieving a revenue of 1.15 billion yuan, a 31% increase year-on-year, with rapid advancements in electric golf carts [2] Summary by Sections Financial Performance - In Q2 2025, the company achieved a revenue of 1.07 billion yuan, a 23% year-on-year increase, and a net profit of 260 million yuan, reflecting a 95% growth year-on-year [1] - The company’s weighted average ROE was 10.4%, up 4.2 percentage points year-on-year, and the net profit margin was 20.0%, an increase of 6.9 percentage points year-on-year [1] Market Position and Growth Drivers - The company is expected to strengthen its market position as the supply side of the North American electric low-speed vehicle industry continues to decline, allowing the company to increase its market share [2] - The company has expanded its dealer network significantly, with over 230 high-end dealers for golf carts and more than 300 for electric bicycles [2] - The introduction of new products, such as the panoramic camping vehicle CITY priced at $15,500, and the launch of the second brand TEKO in North America, are expected to enhance the product lineup and brand presence [2] Future Projections - Revenue projections for 2025-2027 are estimated at 4.2 billion, 5.6 billion, and 7.4 billion yuan, with year-on-year growth rates of 40%, 34%, and 33% respectively [3] - Net profit projections for the same period are 750 million, 980 million, and 1.28 billion yuan, with growth rates of 74%, 31%, and 31% respectively [3] - The company is expected to maintain a compound annual growth rate of 44% from 2024 to 2027, with corresponding P/E ratios of 28, 21, and 16 for 2025-2027 [3]

Summary of TaoTao Vehicle's Conference Call Company Overview - **Company**: TaoTao Vehicle - **Industry**: Golf Cart Manufacturing Key Points and Arguments Financial Performance - In the first half of 2025, TaoTao Vehicle's total revenue grew by approximately 23%, reaching 1.7 billion yuan, with a net profit of 340 million yuan, an increase of 88% year-on-year, resulting in a net profit margin of 20% [3][19] - The sales revenue from smart electric low-speed vehicles was 1.15 billion yuan, up 30.6%, while special vehicles (including ATVs and off-road vehicles) generated 490 million yuan, an 8.2% increase [3] - Golf cart sales reached over 17,000 units, a 70% increase compared to the previous year, with sales revenue rising from 370 million yuan to 770 million yuan, exceeding 100% growth due to price increases from 37,000 yuan/unit to 43,800 yuan/unit [3][5] Market Dynamics - The U.S. golf cart market is experiencing a supply shortage due to reduced exports from China caused by anti-dumping policies, leading to a significant increase in market share for TaoTao Vehicle [2][6] - The company expects to maintain a positive sales outlook for the second half of the year, driven by supply-demand imbalances and anticipated interest rate cuts that could enhance middle-class purchasing power [2][7] Production Capacity and Expansion - The production capacity at the Vietnam factory is expected to reach 4,000 units by August 2025, while the Thailand factory is projected to start production in Q2 2026, with a monthly capacity of approximately 3,300 units [9] - U.S. domestic manufacturing is accelerating, with plans to achieve a monthly production target of over 1,000 units by October 2025, ensuring supply for the second half of the year and into 2026 [9] Competitive Landscape - The competitive environment in the U.S. market has eased, with the company's market share expected to reach 5% this year, aiming for over 20% when the market capacity reaches 1 million units [10] - The company is focusing on high-end products to improve gross margins and net profits [11] Sales Trends and Consumer Behavior - August 2025 sales are projected to double compared to August 2024, with expected sales of around 2,000 units [8] - The demand for golf carts is growing in U.S. communities, with reports indicating that golf carts are becoming a common household item [13] Pricing Strategy - The company has implemented price increases for dealers since July 2024, with dealer gross margins around 25%, which is competitive compared to U.S. brands [14] - There is potential for further retail price adjustments, although not yet finalized [14] Future Outlook - The company is optimistic about the second half of 2025, expecting improved sales performance due to favorable economic conditions and seasonal demand [17] - Despite uncertainties from the 2024 U.S. elections affecting consumer sentiment, a rebound in consumption is anticipated in 2025 due to expected interest rate cuts [18] - The company is focused on planning for 2026 while aiming to meet its 2025 targets [22] Production Utilization - Current production capacity utilization is high, with many factories, including those in China and Vietnam, operating overtime, indicating an increase in order volume [20][21] Additional Important Insights - The company is gradually increasing supply from Vietnam and expects to start sales of the Dior brand Taco in September 2025, although initial supply may be limited [12] - The company is exploring opportunities in the B2B market, particularly in golf courses, and plans to test products in the market before full-scale entry [15][16]

8月25日晚间，沪深两市多家上市公司发布公告，以下是第一财经对一些重要公告的汇总，供投资者 参考。 2025.08. 25 东风科技：东风投资将成为公司间接股东 【品大事】 汇顶科技：公司总裁柳玉平因涉嫌内幕交易被证监会立案 汇顶科技公告，公司总裁柳玉平于2025年8月22日收到中国证券监督管理委员会下发的《立案告知 书》，因涉嫌内幕交易，根据《中华人民共和国证券法》《中华人民共和国行政处罚法》等法律法 规，中国证监会决定对柳玉平进行立案。本次立案系针对柳玉平个人，与公司日常经营管理和业务活 动无关，不会对公司及子公司生产经营活动产生影响。 东风科技公告，8月22日，间接股东东风汽车集团股份有限公司与东风汽车集团(武汉)投资有限公司 （简称"东风投资"）签署了《东风汽车集团(武汉)投资有限公司与东风汽车集团股份有限公司之吸收 合并协议》，东风投资拟吸收合并东风集团股份。本次间接股东吸收合并完成后，东风投资将成为公 司间接股东。本次间接股东吸收合并不会导致公司控股股东、实际控制人发生变化，不会对公司正常 生产经营活动构成重大影响。 华依科技：筹划发行H股股票并在香港联交所上市 华依科技公告，公司为满足国际化战略 ...

Core Viewpoint - The company reported significant growth in revenue and net profit for the first half of 2025, indicating a strong performance in the "new energy smart travel" sector [1][3]. Financial Performance - The company achieved approximately 1.713 billion yuan in revenue, representing a year-on-year increase of 23.19% [1][3]. - The net profit attributable to shareholders was approximately 342 million yuan, showing a remarkable year-on-year growth of 88.04% [1][3]. - The sales revenue from smart electric low-speed vehicles reached 1.152 billion yuan, up 30.65% year-on-year, while special vehicle sales revenue was 490 million yuan, increasing by 8.22% [3]. Dividend Distribution - The company plans to distribute a cash dividend of 15 yuan per 10 shares (including tax) to all shareholders, totaling approximately 163 million yuan [1][3][4]. Market Position and Strategy - The company focuses on smart electric low-speed vehicles and special vehicles, with a product range that includes electric golf carts, electric bicycles, and all-terrain vehicles [3]. - The company expanded its dealer network by adding 60 high-end dealers for electric golf carts, bringing the total to over 230 [3]. Future Outlook - The company expressed confidence in continued growth for the second half of 2025, supported by seasonal shopping peaks in North America and improved product iteration capabilities [5]. - The company is strategically integrating advanced technology into its product lines, including plans to introduce autonomous driving assistance in electric golf carts, aiming to enhance competitiveness and explore new business growth opportunities [5].

Group 1 - The company, TaoTao Automotive, reported a revenue of 1,713,293,159.57 yuan for the first half of 2025, representing a year-on-year growth of 23.19% [2] - The net profit attributable to shareholders of the listed company was 342,216,741.16 yuan, showing a significant year-on-year increase of 88.04% [2]