高额关税+“双反”调查，知名车企去年美国市场收入锐减近80%，净利预计降超六成！此前过半营收来自美国！斥巨资跨界投资半导体能救场吗？

Core Viewpoint - Greenway Technology (SZ301322) is facing significant declines in net profit for 2024 and 2025, primarily due to high tariffs in the U.S. market and substantial asset impairment provisions [1][2]. Financial Performance - For 2025, the company expects a net profit of 40 million to 50 million yuan, representing a year-on-year decline of 71.86% to 64.82%. The net profit after excluding non-recurring items is projected to be only 2 million to 3 million yuan, down 98.11% to 97.16% [1][2]. - In 2024, the company's total revenue was approximately 830.99 million yuan, a decrease of 23.15% from 2023's 1.08 billion yuan [9]. - The revenue from the U.S. market dropped dramatically from 53.22% in 2023 to 29.14% in 2024, with a further expected decline to less than 10% in the first nine months of 2025 [8][10]. Asset Impairment - The company has made significant asset impairment provisions totaling approximately 76.82 million yuan, including 23.59 million yuan for inventory and 52.41 million yuan for accounts receivable [6][2]. - The impairment is largely attributed to increased market competition and the impact of U.S. tariffs, which have slowed product turnover and increased the aging of accounts receivable [6][8]. Strategic Shift - Greenway Technology has acquired a controlling stake in Jiangsu Damo Semiconductor Technology Co., aiming to diversify its business and seek new growth avenues in the semiconductor sector [2][14]. - Despite the acquisition, the company’s core electric vehicle business continues to face challenges, with a 12.47% revenue decline in the first half of 2025 [11][13]. Market Diversification Efforts - The company is actively pursuing market diversification strategies, focusing on Southeast Asia, the Middle East, and domestic markets to mitigate reliance on the U.S. market [10][2]. - The revenue from the semiconductor business is expected to contribute positively to overall revenue, with a projected total revenue of approximately 998 million yuan for 2025, up from 830 million yuan in 2024 [14].