TDG(SH:600330) Zheng Quan Shi Bao Wang·2024-10-29 00:02Core Viewpoint - The financial performance of Tiantong Co., Ltd. shows a decline in revenue and net profit for the first three quarters of 2024, primarily due to the impact of industry overcapacity on its photovoltaic long crystal orders, although there is a positive trend in the third quarter with significant quarter-on-quarter growth in both revenue and net profit [1][2]. Financial Performance - For the first three quarters of 2024, the company's operating revenue was 2.561 billion yuan, a year-on-year decrease of 11.34% - The net profit attributable to shareholders was 124 million yuan, a year-on-year decrease of 55.5% - In the third quarter alone, the operating revenue was 993 million yuan, a quarter-on-quarter increase of 37.15% - The net profit for the third quarter was 45 million yuan, a quarter-on-quarter increase of 31.35% [1]. Industry Position - Tiantong Co., Ltd. is positioned in the electronic chemical industry, ranking first in revenue growth and third in net profit growth among its peers for the third quarter [1]. - The company maintains a leading position in the magnetic materials industry, particularly in emerging applications such as new energy vehicles and data centers, supported by advanced technology and market planning [1]. Research and Development - Since its listing, the company has emphasized R&D innovation, accumulating 637 core intellectual properties related to electronic materials and equipment by mid-2024, ensuring technological autonomy [2]. - In the first three quarters of 2024, R&D expenses reached 181 million yuan, ranking third among disclosed peers in the electronic chemical industry, with R&D expenses accounting for 7.06% of revenue, placing fourth in the industry [2]. - The company has made significant breakthroughs in several cutting-edge fields, including the successful development of a 1000kg-grade crystal showcased at the 2024 Shanghai SEMICON exhibition [2]. Product Development - Since 2010, the company has been manufacturing photovoltaic single crystal furnaces and related equipment, recently launching the next-generation RCZ single crystal furnace, which enhances single crystal growth efficiency and is particularly suitable for producing low-oxygen N-type battery cells [3].