Summary of Ningbo Tuopu Group Co Ltd 3Q25 Earnings Call Company Overview - **Company**: Ningbo Tuopu Group Co Ltd - **Industry**: China Autos & Shared Mobility - **Stock Rating**: Overweight - **Price Target**: Rmb67.00 - **Current Share Price**: Rmb70.26 (as of October 30, 2025) - **Market Capitalization**: Rmb120,280.2 million Key Financial Results - **3Q25 Earnings**: Declined 14% YoY and 8% QoQ to Rmb672 million, missing market expectations for positive YoY growth in 3Q25 [1][2] - **3Q25 Revenue**: Increased 12% YoY and QoQ to Rmb8.0 billion, supported by Geely's 48% YoY production volume growth [1][2] - **Gross Margin**: Contracted 2.2 percentage points YoY and 0.6 percentage points QoQ to 18.6%, the lowest since 2020, due to pricing pressure and high depreciation & amortization costs [2] - **Operating Margin**: Declined by 2.4 percentage points YoY to 9.8% as operating expenses grew faster than revenue [2] - **Recurring Net Profit**: Decreased 10% YoY to Rmb655 million [2] Revenue Breakdown - **Revenue Comparison**: - 3Q24: Rmb7,130 million - 2Q25: Rmb7,167 million - 3Q25: Rmb7,994 million - **Gross Profit**: Remained flat YoY at Rmb1,490 million, with a slight increase of 8% QoQ [2] Market Context - **Competitors**: Performance varied among competitors with Aito (+11% YoY), BYD (-5% YoY), and Tesla global (-5% YoY) [1] - **Industry Dynamics**: The automotive industry is facing ongoing pricing pressures and high costs, impacting margins [2] Future Outlook - **Earnings Call Focus Areas**: - Progress on humanoids and AIDC liquid cooling - OEM annual price cut and gross margin outlook - Plant ramp-up progress in Mexico and Thailand [6] Risks and Opportunities - **Upside Risks**: - New project wins from existing customers or new customer orders - Higher value content per vehicle from product coverage expansion - Margin expansion from falling aluminum alloy costs [10] - **Downside Risks**: - Weaker-than-expected demand from Tesla - Lower-than-expected utilization for chassis parts capacity - Rising aluminum alloy costs [10] Conclusion - **Investment Thesis**: Despite the modest shortfall in earnings and ongoing challenges in the automotive sector, Ningbo Tuopu Group's growth potential in chassis, thermal management, and intelligent driving systems remains a focal point for long-term investment considerations [8]

Tesla rival Polestar has shut down its two R&D sites in the UK and laid off 130 staff, Business Insider has learned. Staff at the Swedish EV maker were notified earlier this month that its R&D efforts would shift from Nuneaton and Coventry in England to its headquarters in Sweden, three sources told Business Insider. The redundancy process is expected to finish by the end of the year, they added.A Polestar spokesperson confirmed the layoffs to Business Insider. In an emailed statement, the spokesperson sa ...

Tesla rival Polestar has shut down its two R&D sites in the UK and laid off 130 staff, Business Insider has learned. Staff at the Swedish EV maker were notified earlier this month that its R&D efforts would shift from Nuneaton and Coventry in England to its headquarters in Sweden, three sources told Business Insider. The redundancy process is expected to finish by the end of the year, they added.A Polestar spokesperson confirmed the layoffs to Business Insider. In an emailed statement, the spokesperson sa ...

Tesla and the National Highway Traffic Safety Administration are warning Cybertruck owners that an off-road accessory could be a road hazard.A recall has been issued because of an off-road light bar accessory that could come loose and fall off the trucks. The NHTSA says it could affect 6,197 vehicles, about 10 percent of all Cybertrucks sold. "A detached light bar may fall, creating a road hazard for other vehicles and increasing the risk of a crash," the notice says. The recall is the latest of 10 that hav ...

ToplineTesla on Thursday recalled more than 6,000 Cybertrucks over a defective light bar accessory that may detach, which regulators said may increase the risk of a crash—the 10th notice issued for Tesla’s pickup truck since it was released nearly two years ago. Elon Musk’s automaker has posted several notices for its Cybertrucks since the vehicle was introduced nearly two years ago.Getty ImagesKey FactsThe recall covers 6,197 Cybertrucks manufactured between Nov. 13, 2023, and Nov. 5, 2024, according to a ...

Tesla stock fell early Thursday, tracking broader market weakness and investor uncertainty ahead of a key shareholder vote on CEO Elon Musk's pay package. At the time of writing, the Tesla stock was d... ...

Tesla stock dipped early Thursday. ...

Core Points - Tesla is recalling up to 6,197 Cybertrucks due to the use of incorrect glue for the off-road light bar, which poses a risk of detachment while driving [1][3] - The off-road light bar, an optional accessory for the "Cyberbeast" variant, can illuminate up to 525 yards and was introduced late last year [2] - Tesla's service manual prohibits employees from installing the light bar electronics, and the company will replace defective units at no cost to customers [3] Company Performance - Tesla has faced multiple recalls since the Cybertruck's launch in November 2023, including a recall of 46,000 units in March due to potential detachment of an exterior trim panel [10] - In the first nine months of the year, Tesla sold approximately 16,000 Cybertrucks, with a significant year-over-year sales decline of 62.6% in the third quarter [11] - Despite Elon Musk's prediction of producing up to 250,000 Cybertrucks annually, the company has struggled with sales in recent months [10]

Tesla Inc. (NASDAQ:TSLA) is planning to showcase the Cybercab at China's Annual Import Expo in Shanghai as the highly awaited autonomous vehicle inches closer to production, with new job listings announced by the EV giant.Check out the current price of TSLA here.Cybercab To Debut In Asia Pacific Next MonthThe company will showcase its Cybercab at the expo, which will run from November 5 to November 10. Tesla's Vice President Tao Lin announced the decision on the Chinese social media platform Weibo on Thursd ...

Uber Technologies Inc. (NYSE:UBER) CEO Dara Khosrowshahi says that most cars would be capable of autonomous driving in the future amid Uber's self-driving push.Driving Would Be Like Horseback Riding"I think, all cars being autonomous, I see 20+ years," Khosrowshahi said on Wednesday during an appearance on a podcast, adding that it will take a long time to "bring the cost curves down" and ensure safety."I think that driving will be something like horseback riding," the CEO said. He added that while horsebac ...