探路者表示，前三季度业绩增长的核心驱动力在于公司实施“户外+芯片”双主业发展战略，户外业务实现了营业收入与利润双增长；芯片业务加大研发投入，通过技术创新与产品迭代提升竞争力。In the first three quarters, Toread Holdings Group's net income was between 95.5021 million yuan and 0.108 billion yuan, a year-on-year growth of 107.23% - 133.27%; The core driver of the performance growth mentioned by the company is the implementation of the "outdoor + chip" dual main business development strategy; The company's chip products mainly focus on overall category touch chip IC design and Mini LED display driver IC design.
According to the financial association on October 16th, Toread Holdings Group, the leading company in outdoor sports (300005.SZ), is accelerating its chip business, becoming a more attention-grabbing part of the performance. Based on the performance forecast released by the company tonight, the net income for the first three quarters is expected to increase by more than 100%.
The third quarter forecast shows that the net income attributable to shareholders of the listed company for the first three quarters of 2024 is between 95.5021 million yuan and 0.108 billion yuan, a year-on-year growth of 107.23% - 133.27%; The non-net profit is 85.7 million - 96.3 million, a year-on-year growth of 143.86% - 174.02%.
Toread Holdings Group stated that the core driver of the performance growth in the first three quarters is the implementation of the "outdoor + chip" dual main business development strategy. The outdoor business achieved double growth in revenue and profit; The chip business increased its R&D investment, enhancing competitiveness through technological innovation and product iteration.
According to the forecast calculation, the net income of the company in Q3 is between 10 million - 22 million, a year-on-year decrease of 10.11% - 59.14%; The non-net profit is between 4.4 million - 15 million, a year-on-year decrease of 32.53% - 80.21%. The year-on-year growth rates of the net income in Q1 and Q2 were 286.55% and 347.96% respectively, providing the main support for the first three quarters' performance.
From the financial reports of the first half of the year, the progress of the chip business is significant: the revenue reached 0.107 billion yuan, a year-on-year increase of about 591%, accounting for 15.1% of total revenue, gradually increasing compared to 9.6% in 2023 and 0.74% in 2022; The net income is 24.17 million yuan, accounting for 28.2%.
Toread Holdings Group owns outdoor brands such as Toread, Toread Kids, and TOREAD.X, with products including outdoor outfits, shoes, backpacks, tents, climbing equipment, among others. In 2021, the company ventured into the chip business, focusing mainly on overall category touch chip IC design, Mini LED display driver IC design, and smart equipment.
The company's chip business, represented by G2 Touch, Beijing Xineng, and Jiangsu Dingmao, has recently become a focus for investors. Of particular interest is G2 Touch's production of OLED touch IC products on Samsung's flexible OLED folding screen, which has completed technical verification, and the company is currently conducting reliability testing. G2 Touch is also the only company among the three that brought profits to Toread Holdings Group last year.
In terms of outdoor business, Toread Holdings Group mentioned that the revenue and profits have doubled in the first three quarters, but looking back at the semi-annual report data, while the revenue of outdoor outfits and outdoor shoes has increased year-on-year, the gross margin has decreased by 1.66% and 4.04% respectively. Combining last year's Tmall outdoor brand sales ranking on Singles' Day and this year's presale situation for outdoor brands on Singles' Day, outdoor brands are still popular. However, Toread Holdings Group's sales and popularity are somewhat behind leading international brands like Camel, Berghaus, and Kailas.
