Autel(SH:688208) 智通财经网·2025-12-21 10:42Core Viewpoint - Shenzhen Daotong Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CICC as its sole sponsor [1] Company Overview - Daotong Technology is a leading provider of intelligent vehicle diagnostic and smart charging solutions, ranked first globally in intelligent vehicle diagnostic solutions by revenue for 2022, 2023, and 2024, with a market share increase from 9.1% in 2022 to 11.1% in 2024 [4] - The company is also the largest Chinese smart charging solution provider by overseas revenue in 2024 and the fourth largest in North America [4] - With over 20 years of industry experience, the company has developed a comprehensive solution portfolio based on strong technical capabilities and synergy [4] - The company has launched an embodied intelligent cluster solution that enables users to collaborate multiple intelligent agents through its self-developed AI application platform [4] Sales Network - Daotong Technology has established a global sales network covering approximately 100 countries and regions, collaborating with over 800 distributors to expand market coverage and enhance penetration [5] - The company focuses on customer needs, providing integrated hardware and software solutions, combining one-time hardware revenue with recurring software revenue to create a scalable and sustainable business model [5] Financial Data - The company recorded revenues of approximately RMB 2.27 billion, RMB 3.25 billion, RMB 3.93 billion, and RMB 2.35 billion for the fiscal years 2022, 2023, 2024, and the six months ending June 30, 2025, respectively [7] - The net profit for the same periods was approximately RMB 81.61 million, RMB 140 million, RMB 560.34 million, and RMB 454.64 million [7] - Gross profit figures were approximately RMB 1.26 billion, RMB 1.70 billion, RMB 2.08 billion, and RMB 1.26 billion for the respective years [8] Industry Overview - The global intelligent vehicle diagnostic industry market size increased from approximately USD 2.81 billion in 2020 to about USD 3.83 billion in 2024, with a compound annual growth rate (CAGR) of 8.1% [9] - By 2030, the market size is expected to reach approximately USD 8.00 billion, with a projected CAGR of 13.1% from 2024 to 2030 [9] - In 2024, North America, Europe, China, and other regions are expected to account for 36.5%, 39.3%, 12.1%, and 12.2% of the market, respectively [9] - The penetration of AI intelligent agents and remote diagnostic services is expected to increase, with software solutions' share projected to rise from 16.8% in 2024 to 26.7% by 2030 [10]