Business in the North American market declined, and Daotong Technology’s revenue and net profit fell in the first three quarters

Jiwei Net News (Text/Yang Yanrou) On October 28, Daotong Technology released a report for the third quarter of 2022, saying that the company achieved revenue of 1.544 billion yuan in the first three quarters, a year-on-year decrease of 5.55%, and the net profit attributable to shareholders of the listed company was 102 million. Yuan, a year-on-year decrease of 70.13%, net profit after deducting non-recurring gains and losses was 83 million yuan, a year-on-year decrease of 72.41%.

Among them, the revenue in the third quarter was 511 million yuan, a year-on-year decrease of 13.21%, the net profit attributable to shareholders of the listed company was 17 million yuan, a year-on-year decrease of 85.07%, and the net profit after deducting non-recurring gains and losses was 90 million yuan, a year-on-year decrease of 91.93%.

Regarding the performance statement, Daotong Technology said that the year-on-year decrease in net profit in the third quarter was mainly due to the increase in marketing expenses caused by the investment in new product research and development and the marketing of charging pile products this year. Among them, the main business income in the North American market decreased by 15.91% year-on-year, mainly due to the decline in ADAS products and battery testing products during the reporting period (the promotion of ADAS pre-installation major customers decreased); the main business income in the European market increased by 13.33% year-on-year, Mainly due to the rapid growth of automotive comprehensive diagnostic products, TPMS products and software cloud services during the reporting period.

It is understood that Daotong Technology is mainly engaged in the research and development, production, sales and service of automotive intelligent diagnosis, detection and analysis systems and automotive electronic components. The company’s main products are automotive intelligent diagnostic products, including automotive intelligent diagnostic computers, commercial vehicle intelligent comprehensive diagnostic computers and other automotive electronic testing products. The company has achieved many achievements in new equipment research and development, software development, process technology innovation, intellectual property system construction, and cloud technology business innovation.

Daotong Technology said that the charging cloud platform will charge customers a software subscription fee in the future, and the software business has a higher gross profit, which is conducive to the subsequent improvement of overall profitability. At present, the charging cloud platform has built four major capability modules: operation, operation and maintenance, smart advertising, and Charge APP interactive functions.

(Proofreading/Huang Rengui)