TGOOD(SZ:300001) Xin Lang Cai Jing·2025-10-30 13:00Core Viewpoint - Teruid is a leading enterprise in the domestic charging pile operation and power equipment sector, with significant technological and market share advantages, making it highly valuable for investment [1] Group 1: Business Performance - In Q3 2025, Teruid achieved a revenue of 9.834 billion, ranking 4th among 29 companies in the industry, with the top company, Tebian Electric Apparatus, generating 72.918 billion [2] - The main business composition includes intelligent manufacturing and integrated services at 4.415 billion, accounting for 70.57%, and electric vehicle charging networks at 1.841 billion, accounting for 29.43% [2] - The net profit for the same period was 690 million, ranking 5th in the industry, with the top company achieving 5.735 billion [2] Group 2: Financial Ratios - As of Q3 2025, Teruid's debt-to-asset ratio was 64.45%, down from 67.12% year-on-year but still above the industry average of 50.78% [3] - The gross profit margin for the same period was 26.41%, significantly up from 20.52% year-on-year and higher than the industry average of 22.99% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 24.56% to 58,500, while the average number of circulating A-shares held per shareholder decreased by 19.37% to 17,600 [5] - The top circulating shareholders include Hong Kong Central Clearing Limited and E Fund's ChiNext ETF, with notable changes in their holdings [5] Group 4: Future Outlook - Huatai Securities indicates that Teruid is expected to benefit from increased charging service fees and overseas expansion in power equipment, with projected net profits of 1.211 billion, 1.594 billion, and 2.286 billion for 2025-2027 [6] - Western Securities highlights the dual-driven business model of power equipment and charging networks, with significant growth in overseas contracts and profitability [6]