创新是链博会的底色，也是链博会的生命力所在。第三届中国国际供应链促进博览会近日在北京举办， 本届链博会不仅在先进制造链展区首次设置创新链专区，还首次举办"链博首发站"新品发布专区。全球 供应链上的新产品、新工艺、新场景、新生态竞相"绽放"，让观众眼前一亮。 参观者在数字科技链展区高通展台体验搭载了高通公司芯片的产品。新华社记者 鞠焕宗 摄 7月17日， 日在先进制造链展区拍摄的"京华号"、"江海号"盾构机模型。新华社记者 张晨霖 摄 这是7月17 在数字科技链展区，参观者观看人形机器人表演。新华社记者 鞠焕宗 摄 日在健康生活链展区拍摄的AI+全骨科手术机器人。新华社记者 张晨霖 摄 7月17日， 这是7月17 参观者在 先进制造链展区中国中车展台参观展出的列车产品模型（7月16日摄）。新华社记者 鞠焕宗 摄 这是7月17 日在智能汽车链展区视比特机器人展位拍摄的漆面缺陷检测与磨抛修复系统现场演示。新华社记者 张 晨霖 摄 这是7月17 日在智能汽车链展区拍摄的一款智慧低空出行飞行体。新华社记者 张晨霖 摄 7月17日， 在数字科技链展区，创新集团展示利用回收铝材进行再加工。新华社记者 鞠焕宗 摄 7月17日 ...

Summary of TaoTao Vehicle's Conference Call Company Overview - **Company**: TaoTao Vehicle - **Industry**: Electric vehicles, specifically golf carts, all-terrain vehicles (ATVs), and robotics Key Points and Arguments Financial Performance - **Q2 Performance**: TaoTao Vehicle's Q2 performance exceeded expectations, primarily driven by golf cart sales, with all-terrain vehicles and off-road vehicles also performing well. Electric bicycles are expected to grow due to tariff impacts, with clients like Walmart potentially shifting orders to Chinese manufacturers [2][5][6] - **Sales Growth**: Sales revenue increased by approximately 20% in the first half of 2025, with net profit growth expected to outpace revenue growth due to high margins on golf carts [3][10] - **Golf Cart Sales**: Approximately 10,000 golf carts were sold in Q2, with an average price of around 43,000 to 44,000 yuan [12][23] Market Dynamics - **Tariff Impact**: The introduction of anti-dumping tariffs has led to a drastic decline in exports of golf carts from China to the U.S., with a drop of 80-90%. This has created opportunities for companies with overseas production capabilities [13][14] - **U.S. Market Strategy**: The company has established a localized operation in the U.S. and has a significant team, enhancing brand and channel advantages. Inventory levels are healthy, with no immediate impact from tariffs expected [7][8][36] Product Performance - **Product Categories**: Besides golf carts, all-terrain vehicles and off-road vehicles showed good performance, while electric bicycles are anticipated to grow due to shifting orders from major clients [5][6][9] - **Regional Performance**: In non-U.S. markets, all-terrain vehicles have seen over 20% annual growth, while electric scooters in Europe have faced declines [9][28] Robotics Business - **Development Plans**: The company is accelerating its robotics business, establishing a smart technology company in Shanghai to develop humanoid robots and autonomous vehicles. Collaborations with TSKL focus on efficient research and data collection, with expectations for revenue generation by 2026 [11][20][22] Competitive Landscape - **Market Positioning**: TaoTao Vehicle differentiates itself through its established brand, localized operations, and extensive sales channels in North America. The company aims to capture a significant market share in the golf cart segment, targeting sales of over 100,000 units in the coming years [15][18][30] - **Challenges in Europe**: The company faces challenges in the European market due to high anti-dumping taxes and competition from low-priced Chinese manufacturers [32][28] Future Outlook - **Growth Projections**: The company anticipates continued growth, with a long-term goal of achieving a market share of 20-30% in the golf cart segment. The natural growth rate of the golf cart market is estimated at 8-10% annually [16][18] - **Investment in Robotics**: Future investments in robotics are expected to increase operational costs, but the company is prepared to manage these expenses based on market conditions [22][19] Supply Chain and Production - **Production Strategy**: The company has divided its production capabilities, with Vietnam and Thailand serving the U.S. market and China focusing on non-U.S. markets. This strategy is aimed at mitigating tariff impacts [24][25] Conclusion - **Core Competitiveness**: TaoTao Vehicle's core competitiveness lies in its established brand, localized operations, and global supply chain, positioning it as a significant player in the electric vehicle market [38][39]

证券研究报告 公司研究 [Table_ReportType] 公司点评报告 [Table_StockAndRank] 涛涛车业(301345) 投资评级 无评级 上次评级 [Table_Author] 姜文镪 新消费行业首席分析师 执业编号：S1500524120004 邮 箱： jiangwenqiang@cindasc.com 骆峥 新消费行业分析师 执业编号：S1500525020001 邮 箱： luozheng1@cindasc.com 邓健全 汽车行业首席分析师 执业编号：S1500525010002 邮 箱： dengjianquan@cindasc.com [Table_OtherReport] 涛涛车业：电动高尔夫球车持续放量， 海外供应链布局领先 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲127号金隅大厦B 座 邮编：100031 [Table_Title] 涛涛车业：电动高尔夫持续放量，规模效应凸 显 [Table_ReportDate] 2025 年 07 月 01 日 [Table_S 事件：公司ummar发布y] 2025 年 ...

2、公司二季度的销售持续增长，是否存在因关税缓和而抢出口 的情况？ 答：公司在北美以自有品牌和自有渠道销售为主，经营模式与 传统的 ODM 外贸企业不同，公司在北美拥有多家本土化运营的子公 司，设有可以存放较大规模存货的多个仓库。公司 2025 年 1-6 月在 美国市场产生的销售，货物基本来自于 2024 年末美国库存以及 2025 年 1-6 月的越南产能，不存在部分国内 ODM 企业类似的"抢出口" 情况。目前，公司在美国的销售基本不受贸易摩擦因素的影响，保 持稳定、连续、增长的态势。 3、公司越南工厂产能建设如何？ 答：公司对越南产能的提升问题高度重视，不断加大人力、物 力等方面的投入。目前，越南产能在不断提升中，特别是电动高尔 夫球车的产量将在 7 月开始放大，为美国市场下半年的销售提供充 足的货源。 投资者关系 活动主要内 证券代码：301345 证券简称：涛涛车业 浙江涛涛车业股份有限公司 投资者关系活动记录表 编号：2025-006 投资者关系 活动类别 □特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 ☑其他(电话会议) 参会机构 共计 138 家 ...

Core Viewpoint - TaoTao Automotive (301345.SZ) has reported strong performance, with expected net profit for the first half of 2025 projected to be between 310 million and 360 million yuan, representing a year-on-year growth of 70.34% to 97.81% [1][2] Financial Performance - In 2024, TaoTao Automotive achieved operating revenue of 2.977 billion yuan, a year-on-year increase of 38.82%, and a net profit of 431 million yuan, up 53.76% [2] - For the first quarter of 2025, the company reported operating revenue of 639 million yuan, a 22.96% increase year-on-year, and a net profit of 86.21 million yuan, reflecting a 69.46% growth [2] Market Expansion - The company has established stable partnerships with major retailers in the U.S. such as Amazon, Walmart, and Target, enhancing its brand influence and market competitiveness [3] - In 2024, the sales volume of electric golf carts reached over 20,000 units, with sales revenue increasing by more than nine times compared to 2023 [3] Stock Performance - TaoTao Automotive's stock price reached a historical high of 109.92 yuan per share on June 30, 2023, marking a 122.87% increase from the lowest price of 49.32 yuan per share on April 9, 2023 [4][5] Production Capacity - The company is ramping up production at its Vietnam facility, with electric golf cart production expected to reach new highs in June 2023, which will support sales growth in the U.S. market [5] - TaoTao Automotive plans to enter the robotics industry, aiming for smart upgrades across its product lines through a strategic partnership with K-Scale Labs [5][6] Revenue from U.S. Market - Revenue from the U.S. market has been steadily increasing, with sales reaching 1.082 billion yuan in 2022, 1.529 billion yuan in 2023, and 2.292 billion yuan in 2024, accounting for 61.30%, 71.32%, and 77% of total revenue respectively [6]

证券代码：603776 证券简称：永安行 公告编号：2025-082 | 本年年初至披 | | | | | | | | | | 本次预计金额 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 占同类 | | | | | | | | 上年实 | 占同类 | | | | 2025 | | 关联交易 | | 年预 | | | 露日与关联人 | | | | 与上年实际发 | | 关联人名称 业务比 | | | | | | | | | 际发生 | 业务比 | | | 类别 计金额 | | | | | | | 累计已发生的 | | | | 生金额差异较 | | 例 | | | | | | | | 金额 | 例 | | | | 交易金额 | | | | | | | | | | 大的原因 | | | 向关联人 上海钧川供 不 超 过 | | | | | | | | | | | | | 销 售 应链科技有 12,000 万 40.41% | 产 | | | | | | 814.23 | 万元 | 0 | 0% | 不适 ...

涛涛车业(301345.SZ)公告称，预计2025年上半年实现归属于上市公司股东的 净利润为3.1亿元-3.6亿 元，同比增长70.34%-97.81%。报告期内，随着品牌影响力的不断提升、销售渠道的持续完善、经营效 率的进一步提高，公司的销售收入和利润均实现了良好的增长。报告期内，预计非经常性损益对归属于 上市公司股东的净利润的影响金额约为280万元。 ...

涛涛车业 20250622 摘要 涛涛车业深耕美国市场多年，积累了对当地消费者需求的深刻理解，并 通过本土制造应对高尔夫球车双反政策，为未来机器人产品在美国产销 奠定基础。 公司通过成立产业基金和研究院，与 Kisto Robotics 等国内外企业合作， 结合本体形态和场景需求，致力于打造特定场景下的大脑系统，推动智 能化战略的商业化应用。 高尔夫球车双反政策促使涛涛车业加速本土制造，总结经验应用于机器 人生产，应对美国市场对中国机器人的抗拒趋势，为未来发展提供宝贵 经验。 涛涛车业坚持稳健发展，主业市场保持增量，高尔夫球车市场预计年复 合增长率超 6%，目标市场份额达 20%-30%，电动低速车业务成为利 润增长新引擎。 中美贸易战加速了市场洗牌，利好涛涛车业，公司越南产能稳步提升， 预计 6 月产量超 3,000 台，8 月突破 4,000-5,000 台，满足美国市场 需求。 Q&A 高尔夫球车双反政策要求产品必须在美国制造，这促使涛涛车业进一步发展其 本土制造能力。同时，美国市场对中国机器人的抗拒趋势明显，公司通过总结 双反经验，在美国制造机器人方面得心应手。这为公司未来的发展提供了宝贵 经验，使其 ...

Group 1 - The core viewpoint of the news is that the company TaoTao Vehicle is experiencing significant production capacity increases at its Vietnam factory, which is expected to positively impact sales growth in the U.S. market [1] - The production of electric golf carts in Vietnam is projected to reach a new high in June, with further increases starting in July [1] - The company has adequately prepared for international trade friction by establishing production capacities in Southeast Asia and the U.S., enhancing its competitiveness in the U.S. market as domestic manufacturers lose market share [1] Group 2 - Shanghai Qushi Asset Management Co., Ltd. was established in September 2015 with a registered capital of 10 million yuan [2] - The company focuses on asset management and securities investment funds, with over 90% of its employees holding master's degrees from prestigious institutions [2] - The founder, Zhang Xiuqi, is a well-known fund manager in the public fund sector, having received multiple awards for excellence in fund management [2]

6月21日，九号公司公布2025年618全周期成绩单：全渠道销售额达33.5亿元，其中电动两轮车品类贡献 32.4亿元，同比增长93%，智能短交通全渠道销售额达1.06亿元，同比增长27%。 不仅在线上渠道全面发力，如今的"618"早已联动线上、线下，九号也不例外。今年"618"期间，九号电 动两轮车线上渠道销售额达21.5亿元，同比增长90%；线下渠道销售额为10.9亿元，同比增长98%。线 上线下（300959）双渠道快速增长，得益于九号公司的全渠道协同效应。今年"618"期间，九号将线上 爆款与线下"本土服务圈"结合，在超百座城市、7000多家门店开启"百城千店"直播联动，不仅为终端门 店持续引流，也为消费者带来更直接、更便捷的购车体验。 九号"618"业绩的底层支撑，在于以技术创新打破行业内卷。针对用户续航焦虑，九号自研RideyLONG 系统将续航提升20%；公司自研的RideyGo智能车机系统则可以真正实现"无钥解锁"等功能，推动两轮 车从"功能机"向"智能机"迭代。 近年来，九号公司一直保持着远超行业平均水平的业绩增速。刚过去的2025年第一季度，九号公司实现 营业收入51.1亿元，同比增长99 ...