Tongtech(300379) 证券时报网·2024-10-25 04:50Core Insights - The company Dongfang Tong (300379.SZ) reported significant revenue growth and a substantial reduction in losses for the first three quarters of 2024, with Q3 revenue reaching 132 million yuan and net losses narrowing by 37.91% and 43.25% year-on-year for net profit and net profit excluding non-recurring items respectively [1] Financial Performance - The company's gross profit margin improved to 73.84%, compared to 2022 and 2023 [1] - Sales and management expenses decreased by 21.59% and 2.95% year-on-year in Q3, contributing to better profit performance [1] - The net loss for Q3 narrowed to 17.18 million yuan, and the company completed a buyback of 8.8 million shares, leading to an increase in earnings per share [1] Business Development - Inventory increased from 130 million yuan at the end of 2023 to 271 million yuan by the end of Q3, while contract liabilities rose from 64 million yuan to 113 million yuan, indicating a rapid growth in orders and business volume [1] - The company has introduced new intellectual properties in cloud-native middleware and industrial internet, indicating a focus on product iteration in emerging fields [1] - The company is also targeting new business opportunities in low-altitude drones, with a new joint command system for police drones being developed [1] Industry Trends - The Chinese government is accelerating the development of foundational software standards, with a focus on middleware, as part of the "Information Standardization Action Plan (2024-2027)" [2] - The National Development and Reform Commission announced plans for the issuance of long-term special bonds to support the development of the information technology industry, with significant investments already allocated [2] - The company has seen a 64.91% year-on-year increase in revenue from government sources in the first half of the year, driven by policy support and a recovering bidding environment [2]