营收大增83.2%,新增战略资本6.55亿，特斯联冲刺港股IPO已箭在弦上

Core Viewpoint - The company Teslin has shown significant growth in revenue and customer base from 2022 to 2024, with a focus on AIoT technology and space intelligence, indicating a strong potential for investment opportunities in the AIoT sector [1][3]. Financial Performance - In 2024, Teslin's revenue is projected to reach 1.843 billion yuan, representing an 83.2% year-on-year increase, with a compound annual growth rate (CAGR) of 58% from 2022 to 2024 [1]. - The revenue from the AI industry digitalization business is expected to reach 1.64 billion yuan in 2024, showing a remarkable growth of 162.9% [1]. - The company has a total order amount of 2.3 billion yuan and a customer base of 342 [1]. - The expense ratio (sales, management, and R&D expenses) decreased from 76.9% in 2023 to 45.0% in 2024, indicating improved cost efficiency [1]. - Accounts receivable turnover days have significantly reduced from 238 days in 2022 to 104 days in 2024, reflecting enhanced capital efficiency [1]. Competitive Position - Compared to other AI companies with revenues exceeding 1 billion yuan, Teslin stands out as one of the fastest-growing companies in the AI sector, with competitors like SenseTime and Horizon showing lower growth rates [2]. - The company is positioned well within the booming Hong Kong stock market, with 33 companies having completed their listings in 2024, indicating a favorable environment for IPOs [2]. Business Strategy and Innovation - Teslin focuses on three strategic directions: AIoT domain models, AIoT infrastructure, and AIoT intelligent agents, which are essential for its space intelligence solutions [3]. - The company has a strong R&D team, with 46.9% of its employees dedicated to research and over 1,700 patents held [3]. - The newly upgraded green intelligent computing body supports various domestic chips and is designed to enhance the cost advantages of domestic intelligent computing devices in the global supply chain [4].