请他在第一时间为大家解读一下公司的整个一个三级度的财务情况的一个表现接下去呢这个我把时间呢交给这个毛总然后毛总的介绍完毕以后呢我们也会预留一些时间和大家做这个软搭做交流下面把时间交给毛总好各位国际人分析师大家下午好我是公司财务总监毛伟杰 下面我向各位通报一下华誉汽车三级报的这样一个整体的财务运营的一个情况首先让大家看到我们图框的这个TBT我们直接进入第四页以后的内容第一个层面就是合并报表口径前三季度华誉汽车整体的一个财务表现 那么1到9月 华谊汽车每季实现的合并营业收入1195亿同比去年同期下降了1.7%归随于我们公司的正义润44.73亿只要去年同期下降了5.63%扣非以后的归母正义润40.87亿只要去年同期下降了1.32%这个下降幅度与归随于我们公司正义润下降幅度 缩窄是因为两期的非竞争性损益的金额不一样去年同期的非竞争性损益相对较大扣分以后整体的规模经营链的下降幅度是1.32%还低于总体的合并营业收入的降幅记录每股收益1.419元跟规模经营链同步的降幅跟去年同期降幅 周年活动产生的现金额量均为56.19个亿较上年同期下降了22.47%这一块我们具体的原因和细节我们将在后面的现金分析当中为大家再做进一步的展 ...

这次会议是中国国际资本集团联合国国际资本集团联合国国际资本集团联合国国际资本集团联合国国际资本集团联合国国际资本集团联合国国际资本集团联合国国际资本集团联合国国际资本集团联合国国际资本集团联合国国际资本集团联合国国际资本集团联合国国际资本集团联合国国际资本集团 Without the written permission of CICC and the speaker, no organization or individual is allowed to punish, forward, reprint, disseminate, copy, edit or modify the meeting contents and relevant information in any form.CICC reserves the right to investigate the relevant legal liability. 大家下午好欢迎大家参加江宁汽车三季报交流电话会我是重金汽车人丹琳同时和我在线的还有我的同事金文娟老师江宁汽车是上周发布了三季度的业绩我们今天特别有幸邀请到了江宁汽车副总裁兼董秘雪岚峰许总以 ...

Summary of Conference Call Records Company Overview - **Company**: 微贸电子 (Micro Trade Electronics) - **Industry**: Home Appliances and Automotive Wiring Harnesses Key Points and Arguments Performance Highlights - In Q3 2024, 微贸电子 achieved significant growth, particularly in home appliances and automotive wiring harnesses, despite a challenging domestic economic environment [7][11] - Sales revenue increased by approximately 8% in the first nine months of the year, with net profit reaching around 30 million yuan, reflecting a 7% growth [14] - The integrated electronics business showed remarkable performance with a growth rate of 24% [14] Business Segments - The company focuses on two main areas: consolidating and expanding its existing home appliance business and increasing investments in the new energy vehicle (NEV) sector, including high-voltage wiring harnesses and charging guns [11][12] - The automotive wiring harness business is expanding into new markets, including low-altitude aircraft and has established partnerships with several well-known domestic car manufacturers [8][11] Market Trends and Opportunities - The North Exchange market has seen significant changes, with the number of listed companies increasing to 254, indicating a maturing market that attracts more investor attention [9] - Despite some companies having high valuations, many remain below a 30x price-to-earnings ratio, presenting investment opportunities [9] Product Offerings - 微贸电子 provides a one-stop electronic component solution, including electronic wires, wiring harness components, plastic products, PCBs, and coils [12] - The company has a strong focus on high-end clients in overseas markets, particularly in Europe and North America, who prefer its comprehensive solutions to reduce procurement and development costs [13] Strategic Initiatives - The company is actively exploring international markets and has successfully entered Europe and North America, securing important orders [8][11] - Future strategies include enhancing technological innovation and product upgrades to improve market competitiveness [11] Financial and Operational Insights - The gross profit margin improved by 0.5 percentage points, indicating effective cost management despite rising raw material prices [14][26] - The company has experienced a shift in sales distribution, with high-end home appliances now accounting for 55% of sales, while automotive business share has decreased to 30% [17][25] Challenges and Risks - The company faced a loss of over 1.6 million yuan due to exchange rate fluctuations in Q3, but expects to recover this loss as the exchange rate stabilizes [16][29] - The rising prices of plastic particles have impacted costs, prompting the company to implement measures such as bulk purchasing and price adjustment mechanisms with major clients [26] Future Outlook - The company remains optimistic about the NEV market, particularly in high-voltage wiring harnesses, and is cautious about entering this market due to fluctuating copper prices [44] - Plans to establish a new factory in Europe to mitigate the impact of tariffs and enhance competitiveness in the European market [37] Collaborations and Innovations - 微贸电子 is collaborating with 小鹏汽车 (Xiaopeng Motors) on flying car projects, contributing to design and cost optimization [39][40] - The company is also exploring opportunities in the semiconductor sector and has engaged with several listed companies for potential collaborations [38] Conclusion - 微贸电子 is well-positioned for future growth with a focus on innovation, international expansion, and strategic partnerships, despite facing challenges from market fluctuations and rising costs [11][37]

对话会议系统请输入餐会密码并以警号键解锁密码错误请重新输入密码并以警号键解锁 欢迎接入金门财经电话会议系统请输入餐会密码 定以紧靠券结束欢迎接入金门财经电话会议系统请输入餐会密码 定以紧靠券结束 欢迎接入金门财经电话会议系统请输入餐会密码 定以井号件结束欢迎接入金门财经电话会议系统请输入餐会密码 定以井号件结束 欢迎接入金门财经电话会议系统请输入餐会密码 定以警号券结束欢迎接入金门财经电话会议系统请输入餐会密码 定以警号券结束 欢迎介入金门财经电话会议系统请输入餐会密码并以警号件结束欢迎介入金门财经电话会议系统请输入餐会密码并以警号件结束 欢迎接入金门财经电话会议系统请输入餐会密码 定以警号件结束欢迎接入金门财经电话会议系统请输入餐会密码 定以警号件结束 欢迎接入金门财经电话会议系统请输入餐会密码并以请号键结束欢迎接入金门财经电话会议系统请输入餐会密码并以请号键结束 欢迎接入金门财经电话会议系统请输入餐会密码并以警号键结束 您已成功加入会议 感谢大家参加本次会议会议即将开始请稍后感谢大家参加本次会议会议即将开始 感谢大家参加本次会议会议即将开始请稍后 感谢大家参加本次会议会议即将开始请稍后 感谢大家参加本次会 ...

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XPeng H&ADR Placing on Positive Catalyst Watch We are placing XPeng on Positive Catalyst Watch ahead of two important near-term events- 1) Oct 24th XPeng Technology Day where we anticipate various new initiatives and 2) Late Nov 3Q24 result announcement where we expect a beat. In addition to our positive sector stance into the year-end (i.e. 35% QoQ PV growth in 4Q24 vs. seasonality ~20%, click here), XPeng's upcoming new product strategy, advancing inhouse technology and solid 3Q earnings as well as streng ...

大家晚上好我是智商研究所的联系所长邱世良 呃现在呢我们其实呃第一个我们对呃今天的我和陈红老师再给大家汇报一下华为汽车产业链的机会哈但是呢先讲之前呢我们先说这个大的判断哈我们第一个判断这个市场哈进入一个熊熊牛的转换其实我们大概的要是以牛市思维去思考另外一个呢像这种我们基本的一个判断这是一轮 就是科技领航的一轮牛市或者说结构性的牛市也好基本上可以这么做一个判断那么从科技角度来看外看就是说有两条很明确的主线两条AI驱动这个是最大的主题全球最大的科技主题AI驱动如果再往下可以看海外看马斯克特斯拉产业链中国看华为产业链 华为产业链是换华为产业链就是华为产业链上的生态华为产业链包括了我们知道看到的这两天那个鸿蒙就全球第三大这个系统那个鸿蒙系统等等这是一个生态它是一个科技的代名词成为就是这条生态链一定是最大的主题看这个所以我们看AI链华为生态链当然AI华为生态链是共振的共振的还是这个机会 那么华为特别强调所谓的森林对抗森林,生态对抗生态,这是一个生态链的机会。那么落实到训练车的话,我们可以看到,我们判断是进入到下半场智能化时代。 智能自动驾驶链那么华为我们知道看到塞里斯看到了接下来江淮北汽蓝骨这是一系列的整车那么整车上基于 ...

大家汇报一下我们关于江淮汽车的投资逻辑和近期的一些更新我们认为江淮汽车与华为合作的尊敬上市正在变得越来越近考虑到公司整体在汽车制造上的一个优势以及与华为合作的这个尊敬品牌的一个非常有吸引力的定位我们认为公司从营收和业绩上 还是有希望在明年获得一个比较大的改善因此在目前的状态还是建议这个公司保持关注那么近期可能公司最大的这个基本面变化就是华为的这个余承东总在近期的一些论坛上有披露说分界将在今年11月15号的广州车展上亮相并且会在明年的春天来上市 那么这样的一个发布也使得可能江淮汽车后续最大的一个看点也是在时间上变得更加的确定因为此前的话公司也披露过与华为的合作并且在一些公开信息中披露了一系列的产能的一些布局那么我们从这些产能的布局中大致能够了解到这是一个 豪华或者说到豪华到超华之间的这样的超豪的这样的一个品牌那么定位呢很可能是在这个八十万以下并且呢他的首发车型中可能会包括轿车和MPV那么后续呢也可能会包括部分SUV这是我们从公司在一些这个产能招标中能够看到的部分信息那么本次的这个华为宇总的之路还包括了他在 这个价格就是可能会是一个百万级别的豪车因此呢我们从这个产品也能看到这个车大概率后续的营业能力是比较强的那么 ...

Industry and Company Involved - **Industry**: Commercial vehicle sector, specifically focusing on medium and heavy commercial vehicles (M&HCVs), light commercial vehicles (LCVs), and electric vehicles (EVs). - **Company**: Foton Motor Corporation Limited (Foton) Core Views and Arguments - **Subsidy Policies and Market Recovery**: The introduction of subsidy policies and the scrappage scheme for commercial vehicles are expected to stimulate demand in both passenger and commercial vehicle markets, benefiting Foton as a leader in the medium and heavy commercial vehicle segment. - **Foton's Performance**: Foton's sales of medium and heavy commercial vehicles (M&HCVs) have been negatively impacted by factors such as technological dependencies and low freight rates. However, the company's sales of light commercial vehicles (LCVs) have shown a decline of approximately 5%. - **LCV Market**: The LCV market is expected to grow at a rate of 4% this year, with the key factors being the adjustment of product structure and the improvement of the proportion of new energy products. - **New Energy LCVs**: The penetration rate of new energy LCVs has reached 13% this year, with a significant increase in the use of new energy LCVs in urban logistics distribution. - **Market Share**: Foton holds a 27% market share in the LCV segment, with a leading advantage over competitors such as Jianghuai, Chang'an, and Dongfeng. - **Export Business**: Foton's export business, particularly in the medium and heavy commercial vehicle segment, is expected to be a significant source of growth, with a focus on regions such as South America and the Middle East. - **Technological Advancements**: Foton has made significant advancements in technologies such as autonomous driving, automated manual transmission (AMT), and semi-solid-state batteries for LCVs. Other Important Points - **Sales and Revenue**: Foton's sales of LCVs reached 79,000 units in August, with a year-on-year growth rate of over 50%. The company's revenue from LCVs accounted for approximately 50% of its total revenue. - **Profitability**: Foton's gross margin has increased to 12.5%, with a significant improvement in sales and administrative expenses. - **Future Outlook**: Foton's overall performance is expected to improve in the coming years, with a projected revenue of 10 to 11 billion yuan and a net profit margin of 15%. - **Valuation**: Foton's valuation is relatively low compared to its peers, with a price-to-earnings ratio of 17 times.

汇报一下我们的海外市场以及出口的一个跟踪汇报也是我们每个季度都会在进门定位会上面讲的一个跟踪的一个情况那么今天也是跟以往一样分成三大块的一个情况第一块是海外的一个销量第二块的话是简单的一些竞争的一个情况第三块的话是出口的一个情况那我们先从第一块海外销量这边去开始去汇报 那么首先整个八月份这边的一个整体的一个全球销量的话我们看到同行里都是有一个略微的一个下降的那么 除掉中国之后的一个海外的话那么同行比都是大概5到6个点左右的一个下滑那么如果说我们单看北美这边的话是单个8月份是170万辆同行比略增那么这里面的话北美这边6月份是因为汽车的软件提供商CCK受到网络攻击的一个影响对于经销商这边的一个业务运营的话是有所扰动的但是到8月份的话整体的一个 情况影响基本上是已经结束了,但是虽然说Bison的表现还比较好,但是根据MarketLine九月的数字数据的话,去看整个北美同款比是下滑十个点左右,那么这里面的主要原因的话也就是有受到天气,然后营业天气,然后新车价格上升,还有信贷这边各种情况的这样的一个影响。 所以说整体来讲的话就是北美8月份的一个情况还可以然后9月份这边的一个变动来看的话可能是有点偏弱的那么欧洲这一块的话 ...