Qingdao TGOOD Electric Co., Ltd.: history, ownership, mission, how it works & makes money

A Brief History of Qingdao TGOOD Electric Co., Ltd.

Qingdao TGOOD Electric Co., Ltd., established in 2009, is a leading manufacturer and supplier of electric vehicle (EV) charging solutions in China. The company began its operations focused on the research and development of electric power equipment, gradually expanding its services to include charging infrastructure solutions for electric vehicles.

In 2010, TGOOD launched its first series of EV charging stations, marking its entry into the rapidly growing electric mobility sector. By 2015, the company had secured significant government contracts, which helped in establishing a solid foundation in the EV market. As of 2023, TGOOD operates over 80,000 charging piles across China and has expanded its footprint into international markets, including Europe and Southeast Asia.

Financial performance has been strong, with significant revenue growth over the years. For the fiscal year ending 2022, TGOOD reported revenues of approximately RMB 1.2 billion, representing a year-on-year increase of 35%. The company's net profit for the same period was around RMB 250 million, with a profit margin of approximately 20.8%.

The company's strategic partnerships with various automotive manufacturers and local governments have propelled its growth. TGOOD has collaborated with leading EV manufacturers such as BYD and NIO, contributing to the development and implementation of smart charging technologies. Additionally, the company's commitment to research and innovation has led to the establishment of several R&D centers in China, focusing on advanced charging technology and smart grid solutions.

As of 2023, TGOOD holds over 200 patents related to charging technologies and power distribution systems. The company's innovative products include fast chargers, AC chargers, and integrated energy management systems, catering to diverse customer needs.

In recent developments, TGOOD reported a strategic investment of RMB 500 million aimed at expanding its manufacturing capabilities and enhancing its product lineup in response to increasing demand for EV infrastructure. This investment is projected to increase production capacity by 50% over the next two years.

Furthermore, TGOOD's performance on the stock market shows promise. The company's shares have increased by approximately 120% since its IPO in 2020, reflecting investor confidence in the growing electric vehicle market. As of October 2023, the stock is trading at about RMB 35 per share.

Overall, Qingdao TGOOD Electric Co., Ltd. has established itself as a key player in the electric vehicle charging industry through strategic growth initiatives, robust financial performance, and a commitment to innovation in the rapidly evolving landscape of electric mobility.

A Who Owns Qingdao TGOOD Electric Co., Ltd.

Qingdao TGOOD Electric Co., Ltd. is publicly traded on the Shenzhen Stock Exchange under the stock code 300001. As of October 2023, the major shareholders include a combination of institutional and individual investors. The following table outlines the significant shareholders and their respective ownership stakes.

As of the latest financial reports, Qingdao TGOOD Electric Co., Ltd. has shown a strong performance with a market capitalization of approximately RMB 35 billion (around $5.4 billion). In 2022, the company reported revenues of RMB 8.2 billion (approximately $1.23 billion), demonstrating a growth rate of 15% year-over-year.

The company specializes in manufacturing electric vehicle charging infrastructure and has established itself as a leader in the electric power equipment field in China. In 2022, TGOOD secured contracts worth roughly RMB 2.5 billion for electric vehicle chargers and related infrastructure, solidifying its market position.

Qingdao TGOOD Electric's international expansion is notable, with increasing exports contributing to its revenue. The company has recorded a growth in export sales from RMB 500 million in 2021 to approximately RMB 800 million in 2022, accounting for about 9.8% of total revenue.

As of the latest available data, the stock price of TGOOD Electric has seen fluctuations, trading at around RMB 30 per share in October 2023. The stock has experienced a year-to-date increase of approximately 40%, driven by the heightened demand for electric vehicle infrastructure in the Asia-Pacific region.

Qingdao TGOOD Electric Co., Ltd. Mission Statement

Qingdao TGOOD Electric Co., Ltd. is a prominent player in the electric vehicle (EV) charging infrastructure sector. The company's mission focuses on delivering innovative, reliable, and user-friendly EV charging solutions that promote sustainable energy use and development. Their commitment lies in enhancing the global electrical environment while fostering a greener future.

The mission statement reflects TGOOD's dedication to quality, technology, and customer satisfaction as fundamental principles in its operations. The company aims to lead the charge in the EV market, contributing to the vibrant growth of the electric vehicle ecosystem.

In 2022, TGOOD Electric reported a revenue of approximately RMB 2.1 billion (around USD 310 million), marking a year-on-year growth of 15%. This growth trajectory reinforces their mission to expand their market share in the global EV charging segment.

TGOOD's strategic goals emphasize the development of high-performance charging products. They aim to achieve a charging power capacity of over 5,000 kW across their product offerings, targeting a significant reduction in charging time for electric vehicles. Their product range includes DC fast chargers, AC charging stations, and mobile charging solutions.

TGOOD's operational efficiency is also evident in its gross profit margin, which stood at 25% in 2022. The company continues to invest in research and development, dedicating around 10% of its annual revenue to innovate and enhance its product offerings.

As part of their mission, TGOOD Electric collaborates with international partners to expand its global footprint. The company has established a presence in over 30 countries, reinforcing its commitment to providing comprehensive charging solutions worldwide.

The environmental impact of TGOOD's mission is significant. Their charging solutions are designed to support the growing number of electric vehicles, thus contributing to reduced carbon emissions and promoting sustainable energy consumption.

How Qingdao TGOOD Electric Co., Ltd. Works

Qingdao TGOOD Electric Co., Ltd., headquartered in Qingdao, China, specializes in the manufacturing and development of electric power equipment and solutions. The company primarily focuses on the production of electric vehicle (EV) charging infrastructures, power transformers, and smart grid equipment.

As of September 2023, TGOOD ranks among the top manufacturers of EV charging stations in China, with a current production capacity exceeding 100,000 units annually. The company has deployed over 120,000 charging piles across more than 300 cities in China, supporting the growing electric vehicle market.

Revenue growth for TGOOD has been significant in recent years. In the fiscal year ending December 2022, TGOOD reported total revenue of approximately RMB 4.5 billion (around $628 million), representing a year-on-year increase of 25%. The company’s net profit for the same period stood at RMB 600 million (about $84 million), reflecting a profit margin of approximately 13.3%.

The company’s focus on innovation is evident in its R&D expenditures, which reached RMB 450 million in 2022, constituting around 10% of its total revenue. This investment underpins TGOOD's commitment to developing cutting-edge technology in the EV charging sector.

Additionally, TGOOD maintains strategic partnerships with several major automotive manufacturers, including BYD and SAIC Motor. These collaborations enhance TGOOD’s distribution capabilities and broaden its market presence, contributing to its competitive edge in the electric vehicle industry.

In terms of market positioning, TGOOD has successfully expanded its international footprint, with about 15% of its revenue generated from overseas markets in 2022. The company is actively pursuing growth opportunities in regions such as Europe and Southeast Asia, where demand for EV charging infrastructure is rapidly increasing.

As of early 2023, TGOOD’s stock was trading at approximately RMB 50 per share, with a market capitalization of around RMB 10 billion (approximately $1.4 billion). The stock has shown resilience, achieving a return on equity (ROE) of 12% over the past year.

The company also operates a strong supply chain network, leveraging local suppliers to minimize costs and enhance efficiency. In 2022, it was reported that about 80% of TGOOD's components are sourced domestically, which has been beneficial in terms of cost management and lead times.

Overall, TGOOD Electric Co., Ltd. exemplifies a forward-thinking approach in the electric utility sector, with a robust business model that combines innovation, strategic partnerships, and a strong focus on quality and sustainability.

How Qingdao TGOOD Electric Co., Ltd. Makes Money

Qingdao TGOOD Electric Co., Ltd. is a key player in the electric vehicle (EV) infrastructure sector, specializing in the design, manufacturing, and sales of EV charging equipment. The company generates revenue through multiple avenues, primarily focusing on EV charging stations, energy storage systems, and power distribution solutions.

In 2022, TGOOD reported a revenue of approximately RMB 3.05 billion, illustrating a year-over-year increase of 22% compared to RMB 2.5 billion in 2021. The company's strong growth trajectory is driven by the increasing demand for EV infrastructure both domestically and internationally.

The breakdown of TGOOD's revenue streams is as follows:

As of mid-2023, TGOOD operates over 10,000 charging stations across China, establishing itself as a leader in the regional EV market. The company's robust portfolio also includes over 1,000 international installations, primarily in Europe and Southeast Asia, contributing significantly to its revenue growth.

Additionally, TGOOD has formed strategic partnerships with major automotive manufacturers, further enhancing its market position. These collaborations have led to a substantial increase in orders, valued at approximately RMB 1 billion in 2023, attributed to the rising production of electric vehicles.

TGOOD’s gross profit margin for 2022 stood at 25%, indicating effective cost management and operational efficiency, a slight decline from 27% in 2021 due to increased raw material costs and competitive pricing pressure in the EV charging sector.

The company’s R&D expenditure reached around RMB 350 million in 2022, accounting for approximately 11.5% of total sales revenue. This investment focuses on innovative charging technologies and smart grid solutions, aimed at maintaining TGOOD's competitive edge in the rapidly evolving market.

In terms of market share, TGOOD holds approximately 15% of the Chinese EV charging market as of Q3 2023, making it one of the top three players in this sector. The global EV charging market is expected to grow significantly, projected to reach USD 27.7 billion by 2027, with TGOOD well-positioned to capture a larger share.

The company's operating expenses amounted to around RMB 500 million in 2022, a 15% increase from RMB 435 million in 2021. This rise in expenses was primarily due to enhanced marketing efforts and the expansion of its workforce to meet growing demand.

With a focus on sustainability and innovative technology, TGOOD is aligning its business model to capitalize on the global shift toward renewable energy and electrification, aiming to increase its revenues while adapting to market trends and consumer needs.