智通财经获悉，据港交所12月24日披露，广州视源电子科技股份有限公司(简称：视源股份)(002841.SZ) 向港交所主板提交上市申请，中金公司、广发证券为其联席保荐人。这是该公司年内第二次递表，公司 曾于6月17日向港交所递交过上市申请。财务数据显示，2025年截至9月30日止九个月，公司利润约为 9.82亿元。 公司简介 据招股书，全球液晶显示("液晶显示")主控板卡市场的领先地位显示，视源股份是智能控制的领导者。 视源股份亦于全球商用显示器行业中占据领先地位，在面向教育与企业服务的交互智能平板("交互智能 平板")领域建立了市场领先地位。视源股份主要提供两大类产品及解决方案：智能终端及应用以及控制 部件。 教育交互智能平板的全球领导者：根据弗若斯特沙利文的数据，2024年视源股份旗下希沃(seewo)品牌 教育交互智能平板以17.5%的市场份额(按营收计)领跑全球市场。 会议交互智能平板的全球领导者：根据弗若斯特沙利文的数据，2024年视源股份的MAXHUB品牌会议 交互智能平板以25.0%的市场份额(按营收计)位居中国内地首位，并以9.9%的市场份额(按营收计)位居全 球第二位。 液晶显示主控板卡的全 ...

智通财经APP获悉，据港交所12月24日披露，广州视源电子科技股份有限公司(简称：视源股份)(002841.SZ)向港交所主板提交上市申请，中金公司、广发证 券为其联席保荐人。这是该公司年内第二次递表，公司曾于6月17日向港交所递交过上市申请。财务数据显示，2025年截至9月30日止九个月，公司利润约为 9.82亿元。 公司简介 据招股书，全球液晶显示("液晶显示")主控板卡市场的领先地位显示，视源股份是智能控制的领导者。视源股份亦于全球商用显示器行业中占据领先地位， 在面向教育与企业服务的交互智能平板("交互智能平板")领域建立了市场领先地位。视源股份主要提供两大类产品及解决方案：智能终端及应用以及控制部 件。 教育交互智能平板的全球领导者：根据弗若斯特沙利文的数据，2024年视源股份旗下希沃(seewo)品牌教育交互智能平板以17.5%的市场份额(按营收计)领跑 全球市场。 会议交互智能平板的全球领导者：根据弗若斯特沙利文的数据，2024年视源股份的MAXHUB品牌会议交互智能平板以25.0%的市场份额(按营收计)位居中国 内地首位，并以9.9%的市场份额(按营收计)位居全球第二位。 液晶显示主控板卡的全 ...

Core Insights - Mavenir has successfully launched a cloud-native multi-tenant converged billing system for SETAR, enhancing operational efficiency and supporting next-generation service monetization [1][2][3] Group 1: System Upgrade and Benefits - The new converged billing system replaces SETAR's traditional billing infrastructure with a unified multi-tenant system, significantly reducing capital expenditures (CAPEX) and operational expenditures (OPEX) [2][3] - The system provides real-time online and offline billing capabilities for all prepaid and postpaid services across Aruba and Bonaire, enabling SETAR to offer a complete digital product suite [2][3] Group 2: Implementation and Collaboration - Mavenir utilized a rapid and flexible deployment approach, standardizing and optimizing SETAR's existing data sets, ensuring a smooth transition from the previous prepaid billing system [3] - The system is deployed in a geo-redundant manner across two data centers, ensuring high availability and fault tolerance [3] Group 3: Strategic Partnership and Future Growth - SETAR's CEO highlighted the strategic partnership with Mavenir as a key advantage in the evolving internet landscape of the Caribbean, enabling personalized digital services for island communities [3] - Mavenir's open API within the MDE platform allows SETAR to seamlessly add new products and services, enhancing operational transparency without additional customer management training [3][4] Group 4: Market Position and Innovation - Mavenir's cloud-native MDE platform has led to significant efficiency improvements and monetization opportunities, allowing SETAR to quickly launch innovative services through centralized infrastructure [4] - The transition from local dedicated hardware to a cloud-optimized solution has reduced system complexity and increased operational efficiency, solidifying SETAR's market leadership [4]

Financial Data and Key Metrics Changes - Total net revenue reached RMB3.24 billion, a 17.2% year-over-year increase, driven by a 39.4% surge in transaction service revenue to RMB1.33 billion [9][19] - Non-GAAP adjusted operating income rose to RMB1.23 billion, up 76% year-over-year, while non-GAAP adjusted net income increased by 39.3% to RMB1.35 billion [10][22] - Basic income per ADS was RMB1.2, compared to RMB0.79 in the same period of 2024, indicating significant growth in profitability [23] Business Line Data and Key Metrics Changes - Fulfilled orders totaled 60.8 million, a 23.8% year-over-year increase, with a fulfillment rate reaching 40.7%, an improvement of approximately seven percentage points [6][8] - Average shipper MAUs exceeded 3,160,000, a 19.3% year-over-year increase, while shipper members surpassed 1,200,000 [7][14] - Active truckers fulfilling orders rose to 4,340,000, up approximately 9% year-over-year, with trucker membership approaching 1,000,000 [7][15] Market Data and Key Metrics Changes - The average fulfillment rate among low and medium frequency direct shippers approached 60%, up almost 10 percentage points year-over-year [13] - Monetized order penetration reached 86.7%, up more than five percentage points from the prior year, indicating improved monetization efficiency [16] Company Strategy and Development Direction - The company aims to remain user-centric, focusing on strengthening the shipper and trucker ecosystems, expanding into new markets, and driving digital transformation in logistics [10] - The company plans to increase freight brokerage service fees to reduce reliance on government subsidies, which may lead to a decline in transaction volume but is expected to optimize revenue structure in the long run [23][24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued growth in fulfilled orders despite macro uncertainties, attributing this to strong market position and ongoing user structure optimization [31] - The company anticipates a significant decline in freight brokerage transaction volume due to increased fees but expects limited impact on transaction service business [24][48] Other Important Information - The company has implemented measures to protect truckers' rights and ensure timely payments, enhancing the overall trading environment [42][44] - A strategic shift in the entrusted shipment service has been made to focus on full truckload transactions, which are expected to improve user experience and revenue stability [52][54] Q&A Session Summary Question: What are the key factors driving the growth in fulfilled orders? - Management attributed the growth to user base expansion, optimization of shipper user structure, and product/service upgrades, with a strong performance from low and medium frequency direct shippers [28][30] Question: What are the main drivers behind the growth in monthly active shippers? - Growth was driven by improved user acquisition efficiency and enhancements to product experience, with a focus on direct shippers over intermediaries [36][39] Question: What measures have been put in place in response to the industry self-regulation convention? - The company has strengthened oversight of shippers, provided support for truckers, and enhanced communication channels to foster a fair trading environment [42][44] Question: What operational changes have been made in the freight brokerage service? - The company increased fee rates to cover rising costs and focused on customer communication and retention, with early observations indicating stable user retention post-adjustment [46][47] Question: How did the entrusted shipment business perform in the second quarter? - The company streamlined its entrusted shipment service to focus on full truckload transactions, which are expected to enhance user experience and revenue stability [52][54]