道通科技(688208)：业绩持续高增 AI全面赋能

Core Insights - The company reported a strong performance in the first half of 2025, with total revenue of 2.345 billion yuan, a year-on-year increase of 27.35%, and a net profit attributable to shareholders of 480 million yuan, up 24.29% [1] - The launch of new AI-enabled smart repair terminals has led to significant revenue growth, particularly in the TPMS product line, which saw a remarkable 56.83% increase in revenue [1] - The energy smart hub business achieved revenue of 524 million yuan, a 40.47% increase, with successful contracts from major clients including LAZ Parking and Shell [2] - AI and software business revenue reached 281 million yuan, growing 30.13%, with a gross margin exceeding 99% [3] Group 1: Financial Performance - The company achieved operating revenue of 2.345 billion yuan in H1 2025, reflecting a 27.35% year-on-year growth [1] - The net profit attributable to shareholders was 480 million yuan, marking a 24.29% increase [1] - The non-recurring net profit was 475 million yuan, showing a significant growth of 64.12% [1] Group 2: Product and Business Development - The smart repair terminal segment generated 1.54 billion yuan in revenue, a 22.96% increase, with high market recognition for AI features [1] - The automotive comprehensive diagnostic products generated 694 million yuan, up 14.14%, while ADAS calibration products reached 207 million yuan, a 17.22% increase [1] - The TPMS series products achieved 516 million yuan in revenue, reflecting a 56.83% growth, driven by policy benefits in the automotive aftermarket [1] Group 3: Strategic Partnerships and Market Expansion - The energy smart hub business reported 524 million yuan in revenue, a 40.47% increase, with contracts from top-tier clients [2] - The company secured a significant order from LAZ Parking for 50,000 commercial AC charging piles, valued at 238 million yuan [2] - Collaboration with Shell to deploy charging networks in Europe, marking a strategic expansion into the public charging sector [2] Group 4: AI Integration and Future Prospects - The AI and software business generated 281 million yuan in revenue, with a 30.13% growth and a gross margin exceeding 99% [3] - The establishment of a subsidiary for AI+inspection robots indicates rapid progress in this area, with successful validation in oilfield inspection projects [3] - Future expansion plans for AI applications across various industry scenarios are anticipated [3]