Ge Long Hui A P P·2026-01-07 07:03Core Viewpoint - The report from Cinda Securities highlights the significant growth in Taotao Automotive's performance, driven by strong sales of electric golf carts and an enhanced full-chain layout in North America [1] Group 1: Financial Performance - The company is expected to achieve a net profit attributable to shareholders of 800-850 million yuan by 2025, representing a year-on-year growth of 85.5%-97.1% [1] - For Q4 2025, the anticipated net profit attributable to shareholders is projected to be 218 million yuan, reflecting a year-on-year increase of 68.2% [1] Group 2: Product and Market Development - Electric low-speed vehicles, including electric golf carts, are expected to be the core growth driver for the company [1] - The company has made significant strides in North America, establishing a localized team of nearly 400 personnel covering R&D, production, marketing, and pre-sales and after-sales services [1] Group 3: Operational Efficiency - The localized team in North America enables the company to accurately grasp market trends, achieve efficient operations, and provide high-quality services [1]