TGood Electric

Business

TGood (青岛特锐德电气股份有限公司, Qingdao TGOOD Electric) has two businesses: power equipment, led by prefabricated substations, and electric vehicle charging. It says it is China's largest EV charging equipment maker and charging network operator, and the world's largest maker of high-voltage prefabricated substations, which are its own claims (2026 interim report, pp. 9, 20).

Results

In the first half of 2026 revenue rose 6.07% to ¥6.64bn and net profit attributable to shareholders rose 30.7% to ¥427.5m (p. 7). By business (p. 31):

• Power equipment: ¥4.81bn, up 8.95%, at a 24.17% gross margin.
• Electric vehicle charging: ¥1.83bn, down 0.83%, at 33.65%, up 3.40 points. Within it, charging equipment earned ¥1.10bn, down 2.5%, at 29.37%, and charging network operations and services ¥721.8m, up 1.84%, at 40.18%, up 8.45 points.

Overseas revenue fell 37.8% to ¥373.7m (p. 31).

The network

The company says its network covers more than 90% of Chinese provinces and prefecture-level cities and had about 960,000 public charging terminals at the end of June 2026, the most in the industry, which is its claim. It offers liquid-cooled charging up to 1 MW for cars and buses and a 4 MW dual-port system for heavy trucks, and has linked 40 grid dispatch and virtual power plant centres, managing more than 12,000 dispatchable charging stations (pp. 19, 20).

Where it stands

TGood earns more from running charging stations (40% margin) than from selling charging equipment (29%), and its charging revenue was flat in the half. See charging and battery swapping.