By FENG Yuchen
Tuopu, a multipurpose enterprise specializing in R&D, manufacturing, and sales of auto parts, has seen its stock collapse, resulting in a 6-billion-yuan (US$820 million) loss in market value on the fourth consecutive day of declines.
There have been no recent developments in Tuopu, and there is no apparent negative news.
Tuopu is a key supplier of Tesla’s Shanghai factory, and its performance is closely tied to Tesla’s EV sales.
There is no clear explanation for Tuopu’s troubles. Thanks to an increased market share in H1, Tuopu’s net profit was up by more than 50 percent. Shanghai Tesla did very well in H1, providing significant momentum for Tuopu’s half-year growth.
Tesla’s global delivery for the third quarter has decreased by 6 percent compared to the previous quarter, but cumulative deliveries for the first three quarters of this year have already exceeded the total for 2022.
In addition to its automotive clients Tesla, Tuopu has interests in robotics, working on linear and rotary actuators for robots.
From a financial standpoint, Tuopu has maintained stable and profitable performance in recent years, with net profits of 628 million yuan, 1.017 billion yuan and 1.7 billion yuan in the past three years.
Tuopu has also extended its reach in the automotive supply chain beyond Tesla by establishing strategic partnerships with companies such as NIO, AITO, BYD, and Xiaomi.
