TongDa Cable(SZ:002560) Chang Jiang Shang Bao·2025-05-06 23:35Core Viewpoint - Tongda Co., Ltd. has been recommended as a candidate for winning a bid from the State Grid for a total value of 207 million yuan, which is expected to positively impact the company's future operations and performance [1][2]. Group 1: Company Overview - Tongda Co., Ltd. was established in 1987 and primarily engages in the production and sales of wires and cables, precision processing of aviation components, and aluminum-based composite materials [1][4]. - The company went public in 2011 and aims to achieve a revenue target of 10 billion yuan for 2025 [4]. Group 2: Recent Achievements - In the first quarter of 2025, the company reported revenue of 1.474 billion yuan, a year-on-year increase of 39.35%, and a net profit of 15.97 million yuan, up 9.86% [4]. - The company has recently secured multiple contracts with the State Grid and Southern Power Grid, including a 139 million yuan bid and a 116 million yuan bid for various projects [3]. Group 3: Financial Performance - For the year 2024, the company achieved revenue of 6.201 billion yuan, a year-on-year increase of 11.26%, but net profit decreased by 69.15% to 25.49 million yuan due to increased R&D expenses and lower gross margins [4][5]. - The cable business remains a significant revenue source, generating 3.233 billion yuan in 2024, a growth of 16.63%, with high-voltage cable products seeing a 24.69% increase [5]. Group 4: R&D Investment - In 2024, the company increased its R&D expenditure to 125 million yuan, a rise of 15.97%, focusing on key technology projects that have begun to enter the industrialization phase [5].