Core Viewpoint - Altech Automotive Technology Co., Ltd. has experienced fluctuations in stock performance, with a recent decline in share price and mixed financial results, indicating potential challenges in the automotive sector, particularly in the electric vehicle segment [1][2]. Group 1: Stock Performance - On September 22, Altech's stock price fell by 2.05%, reaching 11.48 CNY per share, with a trading volume of 91.98 million CNY and a turnover rate of 1.64%, resulting in a total market capitalization of 5.718 billion CNY [1]. - Year-to-date, Altech's stock price has increased by 1.59%, but it has declined by 2.79% over the last five trading days and 12.70% over the last 20 days, while showing a 6.20% increase over the last 60 days [1]. Group 2: Financial Performance - For the first half of 2025, Altech reported revenue of 522 million CNY, reflecting a year-on-year growth of 33.14%. However, the net profit attributable to shareholders was -58.197 million CNY, a significant decrease of 268.61% compared to the previous period [2]. - As of June 30, 2025, the number of shareholders increased to 29,500, with an average of 16,430 circulating shares per person, a slight decrease of 0.29% [2]. Group 3: Business Overview - Altech, established on May 23, 2007, and listed on March 27, 2020, is primarily engaged in the design of fuel and electric vehicles, with 87.68% of its revenue coming from electric vehicle design and 11.73% from fuel vehicle design [1]. - The company operates within the automotive services sector and is associated with various concepts, including small-cap stocks, digital twins, AI multi-modal, and AI models [1].

Financial Performance - The company reported a revenue of 522.49 million yuan, representing a year-on-year increase of 33.14% [4] - The net loss attributable to shareholders was 58.20 million yuan, an increase of 268.61% compared to the previous year [4] - The net loss after deducting non-recurring gains and losses was 62.08 million yuan, which is a 376.87% increase year-on-year [4] - The net cash flow from operating activities was -101.46 million yuan, a decrease of 295.76% compared to the previous year [4] - Basic and diluted earnings per share were both -0.1188 yuan, reflecting a decline of 271.25% [4] - The weighted average return on equity was -2.63%, down 1.98% from the previous year [4] Asset and Equity Position - Total assets at the end of the reporting period were 3.07 billion yuan, a decrease of 6.51% from the end of the previous year [4] - Net assets attributable to shareholders were 2.20 billion yuan, down 3.95% from the previous year [4] Market Development and Partnerships - The company has made significant progress in market expansion, establishing a cooperation intention with client Z for developing new energy multi-purpose vehicles and providing supply chain management services [2] - A framework agreement was signed with Nissan (China) for collaboration in vehicle development and automotive parts [2] - The company has successfully entered the supplier system of some European clients, which is expected to support future revenue growth [2] Product Development and Production - The company's electromagnetic clutch products have officially entered mass production, with ongoing deliveries based on customer demand [3] - The company has engaged in preliminary discussions with multiple domestic joint ventures and new energy vehicle companies regarding the application development of electromagnetic clutches [3] - Over 30 different technical solutions have been designed for clients, with some solutions already undergoing trial verification [3]