特斯联更新招股书：2024年营收增速超83%，战略升级卡位空间智能万亿赛道

Core Viewpoint - The latest financial data and business layout of Teslin Smart Technology Co., Ltd. indicate a rapid upward development momentum, showcasing strong growth in revenue and operational efficiency [1][4]. Financial Performance - In 2024, Teslin's revenue reached 1.843 billion yuan, representing a significant year-on-year increase of 83.2%. The compound annual growth rate (CAGR) from 2022 to 2024 is calculated at 58.0%, positioning the company as one of the fastest-growing entities in the AI industry [3]. - The company's expense ratio improved dramatically from 76.9% in 2023 to 45.0% in 2024, and accounts receivable turnover days decreased from 238 days in 2022 to 104 days in 2024, indicating enhanced operational efficiency [4]. Business Growth Drivers - The AI-driven digital transformation wave has significantly benefited Teslin, with its AI industry digitalization business growing by 162.9% year-on-year to 1.64 billion yuan in 2024, accounting for 89% of total revenue [5]. - The total number of customers increased from 224 in 2022 to 342 in 2024, with an order backlog of approximately 2.3 billion yuan as of December 31, 2024, providing strong revenue growth certainty [5]. Strategic Initiatives - Teslin has updated its strategic focus on three major areas: AIoT models, AIoT infrastructure, and AIoT intelligent agents, aiming to build differentiated competitive barriers in the space intelligence sector [7]. - The company has developed innovative AIoT infrastructure solutions, including the Green Intelligent Computing Body and the DeepSeek integrated machine, which have been successfully implemented in various applications [8]. Market Potential - The global spatial computing market is projected to grow from approximately $149.59 billion in 2024 to over $1,066.13 billion by 2034, with a CAGR of 21.7%. The Asia-Pacific market is expected to grow at an even higher rate of 22.2% [9]. - Teslin's accumulation of quality clients and benchmark projects in both domestic and international markets positions it well to capture a larger market share in this rapidly expanding sector [9]. Conclusion - The strategic upgrades of Teslin not only address international technology barriers but also position the company to capitalize on the substantial market opportunities within the trillion-dollar spatial computing market, suggesting a strong potential for sustainable profitability [11].