Zhejiang Taotao Vehicles (SZ:301345) Zhong Guo Zheng Quan Bao·2025-10-09 20:53Core Viewpoint - TaoTao Automotive is experiencing significant growth in net profit and is planning to issue H-shares for further global expansion and brand enhancement [1][3]. Financial Performance - The company expects a net profit attributable to shareholders of 580 million to 620 million yuan for the first three quarters of the year, representing a year-on-year increase of 92.46% to 105.73% [1]. - The net profit after deducting non-recurring items is projected to be between 575 million and 615 million yuan, with a year-on-year growth of 94.97% to 108.54% [1]. - For the first half of the year, the company achieved operating revenue of 1.713 billion yuan, a year-on-year increase of 23.19% [2]. Product and Market Strategy - TaoTao Automotive focuses on "new energy smart travel," offering products such as smart electric low-speed vehicles and special vehicles [1]. - The smart electric low-speed vehicles include electric golf carts, electric bicycles, electric scooters, and electric balance bikes, while special vehicles cover all-terrain vehicles and off-road motorcycles [2]. - The company is actively embracing the trend of smart technology, planning to integrate advancements in humanoid robots and autonomous driving into its core products [2]. Global Expansion - Over 90% of the company's revenue comes from overseas markets, with a focus on a "China + Southeast Asia + North America" production layout [3]. - The company is accelerating its overseas production capacity, with local manufacturing in North America and ongoing construction of a production base in Thailand [3]. - The planned issuance of H-shares aims to enhance capital strength and broaden financing channels to support overseas capacity construction and technological development [3].