研报掘金丨浙商证券：维持涛涛车业“买入”评级，需求+供给双轮驱动，有望强者恒强

Core Viewpoint - TaoTao Automotive's profit growth accelerated in the third quarter, with a year-on-year increase of 121% in net profit attributable to shareholders, achieving a total of 610 million yuan in net profit for the first three quarters, representing a 101% year-on-year growth [1] Group 1: Financial Performance - The company reported a net profit attributable to shareholders of 610 million yuan for the first three quarters, marking a 101% year-on-year increase [1] - In the third quarter alone, the net profit attributable to shareholders grew by 121% year-on-year [1] Group 2: Strategic Initiatives - The company plans to conduct its initial public offering (IPO) of H-shares and list on the Hong Kong Stock Exchange to enhance its global strategic layout and international brand influence [1] - The IPO aims to improve the company's overseas financing capabilities and create an international capital operation platform [1] Group 3: Market Opportunities - The company is expected to strengthen its market position due to a dual-driven approach of demand and supply [1] - There is still room for expansion in usage scenarios, ranging from private and household to commercial applications [1] - As of June 2025, the company has made initial inroads into sports venues, with two small-scale entries [1] Group 4: Technological Advancements - The company is advancing its smart technology initiatives through various collaborative efforts [1] - The overall push for intelligent solutions is a key focus area for the company [1]