TWIN Latest Report

Performance of the Financial Report

On December 27, 2024, Twin's (stock code: TWIN) total operating revenue was USD89,921,000. Although there is a lack of prior data to directly judge the year-on-year change, through other financial indicators and market conditions, the potential reasons for the change in total operating revenue can be analyzed.

Key Data in the Financial Report

1. The total operating revenue was USD89,921,000, the cost of sales was USD68,241,000, the gross profit was USD21,680,000, and the gross margin was 24.1%.

2. The operating revenue in the first three quarters of 2024 was RMB6.743 billion, up 14.83% YoY.

3. The single-quarter operating revenue in Q3 2024 was RMB2.42 billion, up 10.73% YoY.

4. The company's market share in the new energy vehicle sector increased from 35% in 2020-2022 to nearly 45%.

5. It is expected that the market size of new energy gearboxes in China will reach RMB1.3 billion by 2026.

Peer Comparison

1. Industry-wide analysis: The industry related to Twin's new energy vehicles has experienced rapid growth, and its automotive gear business is facing a large-scale increase in volume. The overall market demand is rising.

2. Peer evaluation analysis: Twin's total operating revenue is higher than the industry average, indicating that its market share is increasing and it has a good competitive position in the industry.

Summary

Twin's total operating revenue in 2024 performed well, benefiting from the rising market demand and the company's strategic adjustments. Despite the uncertainties of the macro economy and industry competition, its market share and profitability are still improving.

Opportunities

1. With the rapid development of the new energy vehicle market, the company is expected to gain more market share.

2. The increasing requirements for gear design in electric drive systems in the industry can help Twin enhance its market competitiveness.

3. The rapid expansion of the new energy gearbox market is expected to provide new growth opportunities for the company.

Risks

1. A slow global economic recovery may lead to uncertainties in downstream demand, affecting operating revenue.

2. Policy changes and price wars may put pressure on operating revenue.

3. Competitors' competition strategies and market dynamics may affect Twin's market position and profitability.