Company Overview - New Ji'ao RV Co., Ltd. is a leading export-oriented RV manufacturer located in Tongxiang Economic Development Zone, Zhejiang Province, China [2] - The company integrates advanced foreign design concepts with domestic manufacturing advantages, establishing a strong core competitiveness [2] - New Ji'ao RV owns three brands: mid-range popular brand SNOWY RIVER, high-end brand REGENT, and light off-road brand NEWGEN, which cater to global customers [2] Financial Performance - As of December 31, 2024, New Ji'ao RV achieved total operating revenue of 864 million yuan, a year-on-year increase of 19.97% [1] - The net profit attributable to shareholders was 43.33 million yuan, a year-on-year decrease of 45.82% [1] - The gross profit margin stood at 31.07%, with a debt-to-asset ratio of 92.99% [1] Market Position and Valuation - The company's price-to-earnings (P/E) ratio is 26.26, ranking 25th in the automotive industry, which has an average P/E ratio of 16.83 [1] - In the RV market, New Ji'ao RV holds the second-largest market share in the Australasian region, demonstrating its leading position and broad customer recognition [3] - RV deliveries increased from 1,330 units in 2021 to 2,694 units in 2023, reflecting a significant annual growth rate [3] Industry Insights - The automotive industry has an average P/E ratio of 16.83, with a median of 8.33 [1] - Other companies in the automotive interior sector have significantly lower P/E ratios, indicating varying levels of market valuation within the industry [1]