Speechocean(SH:688787) Jin Rong Jie·2026-01-15 10:13Core Viewpoint - The company is expanding its overseas operations and focusing on high-growth areas such as embodied intelligence data, leveraging its capabilities in data annotation and management to meet increasing global demand for high-quality training data. Group 1: Overseas Base Development - The company plans to integrate a Southeast Asia-based annotation center with over 1,000 personnel by 2024, expected to generate millions in revenue by 2025, and aims to establish a second base in the region by 2026, adding approximately 500 personnel [1][3] - This expansion supports the company's ability to handle outbound business for Chinese tech firms and customized orders from leading North American clients [3] Group 2: Traditional Training Data Business Drivers - The demand for high-quality, multilingual, and scenario-based training data is driven by the rapid deployment of global AI applications [4] - Key product lines include multilingual speech recognition data, handwriting data for financial document processing, and multilingual text data for natural language understanding [4][5] Group 3: Government Business Collaboration - The company has established a clear collaboration model with local governments, focusing on building high-quality data sets based on local characteristics, ensuring data security, and developing data trading platforms [7] - Recent projects include partnerships with cities like Chengdu and Changsha, and the completion of initial data sets for Hohhot and the Guangxi ASEAN corpus [7] Group 4: Embodied Intelligence Data Business - The company views embodied intelligence data as a high-growth sector and has formed a dedicated team to explore opportunities in various cities [8] - Collaborations with robotics manufacturers and tech giants are underway to meet the demand for high-quality training data in real-world applications [8] Group 5: Competitive Advantages in Training Data - The company has developed a dual-service product model, with significant contributions from productization, ensuring high profit margins and scalability [9] - Emphasis on technological development, supply chain management, and data security compliance has strengthened its competitive position [9][10] - The company has achieved important certifications, enhancing its reputation and compliance with international and domestic regulations [10] Group 6: Pricing and Revenue Models - Custom services are priced using a cost-plus model, while product pricing is demand-driven, allowing flexibility based on market conditions [12] - The pricing strategy is influenced by supply and demand dynamics, with high-value data maintaining premium pricing, while more mature segments face price competition [12]