Core Viewpoint - Tongda Co., Ltd. (SZ 002560) expects a significant increase in net profit for the first three quarters of 2025, projecting a growth of 50.01% to 111.12% year-on-year, driven by a focus on core business and optimized customer structure [1] Financial Performance - The projected net profit for the first three quarters of 2025 is between 108 million to 152 million yuan, with basic earnings per share estimated at 0.2054 to 0.2891 yuan [1] - The increase in performance is attributed to sustained rapid growth in operating revenue and stable product gross margins [1] Business Segments - For the first half of 2025, the revenue composition of Tongda Co., Ltd. is as follows: - Wire and cable manufacturing: 45.74% - Non-ferrous metal aluminum processing: 38.62% - Trade sales: 12.26% - Machinery manufacturing and processing: 2.71% - Others: 0.68% [1] Market Position - As of the report date, Tongda Co., Ltd. has a market capitalization of 3.9 billion yuan [1]

Core Insights - Cambodia's economy achieved a growth rate of 5.9% in the first half of 2025, driven primarily by the manufacturing sector, with contributions from tourism and agriculture, while the construction and real estate sectors continued to show weakness [1][2] Manufacturing Sector - The garment manufacturing industry grew by 10.4%, and non-garment manufacturing grew by 8.5% in the first half of 2025 [1] - Exports of manufactured goods increased by 15.3%, significantly higher than the 8.7% growth in the same period last year [1] - The growth in manufacturing was supported by garment exports and new product exports, including tires, light bulbs, wires, and cables [1][2] Tourism Sector - The number of international tourists increased by 6.2%, reaching 3.4 million, while domestic tourist numbers surged by 50.3% to 14.6 million [1] - This growth in tourism was attributed to the development of key infrastructure, the opening of direct flights, and the organization of large-scale events to attract visitors [1][2] Agriculture Sector - Agriculture experienced a growth of 1.2%, contributing positively to the overall economic performance [1][2] Construction and Real Estate Sector - Despite a 44.1% increase in the import of construction materials and equipment, and a 37.7% rise in the value of approved construction projects, the construction sector only grew by 0.7% [1] - Foreign direct investment in the construction sector declined by 14% in the first half of 2025, indicating ongoing challenges in this area [1]