Tongda Electric(SH:603390)2023-11-06 01:32Group 1: Company Overview - Guangzhou Tongda Automotive Electric Co., Ltd. is focused on the development of electric vehicle components and mobile medical solutions [2][3]. - The company has a strong emphasis on smart thermal management systems and central control screens for commercial vehicles [8]. Group 2: Financial Performance - In the first three quarters of 2023, the company's operating revenue increased by 23.55% compared to the previous year, reaching a total revenue of 2,275.24 million yuan in the first half of 2023 [6][8]. - The net profit attributable to shareholders turned positive, but the net profit after deducting non-recurring gains and losses remained negative due to tax provisions and asset impairment [6]. Group 3: Product Development and Market Expansion - The revenue from the company's new energy vehicle motor and thermal management system products has significantly increased, primarily driven by smart thermal management products in the logistics and commercial vehicle sectors [4][5]. - The company is actively expanding into the mobile medical business, leveraging its expertise in vehicle-mounted electrical equipment to address technical challenges in medical device installation [5]. Group 4: Risk Management - The company has a considerable amount of accounts receivable, but it manages this risk by following accounting standards for bad debt provisions and maintaining relationships with reputable clients [7][8]. - Investors are advised to be cautious regarding the potential risks associated with the company's electronic rearview mirror products, which currently have a small business scale and profit contribution [7].