达实智能公告，近日与上海建工一建集团有限公司、中建三局第一建设工程有限责任公司就联影生产研 发基地项目签署合同，总合同金额为3832.95万元。项目包括联影生产研发基地一期和二期的弱电智能 化及超算中心项目。项目地点位于上海市嘉定工业区，预计工期至2026年1月31日。项目将有助于公司 在华东地区打造智慧空间服务标杆，并提升公司在企业园区领域的市场占有率。 ...

Group 1 - The company, Dasan Intelligent, has signed a contract worth 23.869 million RMB with Mi Space Wuhan Information Technology Co., Ltd. for the Xiaomi Wuhan Phase II smart project, marking a significant achievement in the smart space service sector and strengthening its market position in Central China [2][3] - The Xiaomi Wuhan Technology Park project covers an area of 143,000 square meters and includes various facilities such as office buildings, apartments, and data centers, aimed at creating a large R&D center focused on smart manufacturing and digital economy [2][4] - Dasan Intelligent will leverage its extensive experience in IoT and AI-based smart space solutions to provide a comprehensive suite of systems for the project, including information release systems, video surveillance, access control, and energy management [2][3] Group 2 - The company aims to become a global leader in smart space services, with a vision of "Smart Million Spaces, Warm Billion Users," and has implemented smart building solutions across 30 provincial-level administrative regions and over 3,000 projects in China [3] - The national government emphasizes the importance of digital platforms for enterprise parks, viewing them as crucial for industrial transformation and high-quality economic development, which aligns with Dasan Intelligent's strategic focus [4] - Although the contract amount represents only 0.75% of Dasan Intelligent's audited revenue for 2024, it is expected to positively impact the company's market share in the enterprise park sector and reflects its commitment to supporting digital transformation through innovative technologies [4]

Core Viewpoint - The company, Dasan Intelligent, has signed an agreement with Xiaomi's subsidiary, Mi Space Wuhan Information Technology Co., Ltd., to undertake the smart project for Xiaomi's Wuhan Phase II, with a contract value of 23.869 million yuan, accounting for 0.75% of the audited revenue for 2024 [2] Group 1: Project Details - The Xiaomi Wuhan Technology Park covers an area of 143,000 square meters, including 9 office buildings and 3 apartment buildings, designed for various functions such as R&D, production, and manufacturing of Xiaomi smart hardware products [2] - The smart project includes a comprehensive solution with multiple subsystems such as information release systems, meeting room reservation systems, video surveillance systems, access control systems, intrusion alarm systems, smart locks, visitor management systems, and parking management systems, with a contract duration of 222 calendar days [2] Group 2: Market Position and Performance - Dasan Intelligent aims to establish a benchmark for smart space services in enterprise parks in Wuhan, which will positively impact its market share in this sector, although it will not significantly affect profits [2] - The company has previously collaborated with Xiaomi, having announced the undertaking of Xiaomi's Shenzhen International Headquarters smart project in May 2024, with a contract value of 10.82 million yuan [2] - Dasan Intelligent has positioned itself as a smart space service provider, leveraging its self-developed AIoT smart IoT management platform across various sectors, including enterprise parks, hospitals, and data centers, serving over 3,000 projects nationwide [3] Group 3: Financial Performance and Expansion - The company's performance in the first half of the year was under pressure due to fluctuations in downstream industry demand and delays in the implementation of signed projects [3] - Dasan Intelligent's overseas business has begun to expand, with overseas revenue exceeding 1 million yuan for the first time, primarily in Southeast Asia and the Middle East [3] - The company has established a wholly-owned subsidiary in Malaysia and is preparing to set up another in Saudi Arabia, with three main strategies for overseas market expansion: following Chinese enterprises abroad, establishing local subsidiaries, and collaborating with ecosystem partners [3]

Core Insights - Shenzhen Das Intelligent Co., Ltd. has signed contracts for two significant projects, showcasing its strong capabilities and promising prospects in the smart space service sector [2][3] - The projects include the Qianhai Shenzhen-Hong Kong Youth Dream Factory South Area and the Longgang District Longteng Nine-Year Consistent School, with contract amounts of 27.78 million yuan and 11.37 million yuan respectively [2] Group 1 - The Qianhai project, part of the Greater Bay Area Development Plan, covers a total construction area of 209,900 square meters and focuses on cutting-edge fields such as artificial intelligence and financial technology [2] - Das Intelligent will utilize its self-developed AIoT smart IoT management platform to provide a comprehensive smart space solution, reinforcing its leading position in the smart building industry [2][3] - The Longgang school project is a key component of the district's high-quality campus construction plan, where the company will provide smart solutions including video surveillance and building energy efficiency monitoring [2] Group 2 - Das Intelligent has established a presence in various sectors such as enterprise parks, hospitals, and urban rail transit, covering over 3,000 projects across 200 cities in 30 provincial-level administrative regions [3] - The recent contract amounts, while not significantly impacting the company's 2024 revenue, are expected to enhance its market share and drive future growth through innovation in the smart building sector [3] - The company aims to fulfill its vision of "Smart Million Spaces, Warm Billion Users," indicating a positive outlook for its future business operations as various projects progress [3]

近日，深圳达实智能股份有限公司与深圳市泰英通信工程有限公司作为联合体，和华润置地城市运营管 理（深圳）有限公司签署龙岗街道龙腾九年一贯制学校智能化项目合同，金额1136.57万元。项目建筑 面积69880.25平方米，办学规模72班、3360个学位，工期390天。达实智能将提供全栈式智慧空间整体 解决方案。该项目有助于公司在粤港澳大湾区打造智慧空间服务标杆，虽占2024年营收0.36%，对利润 影响不大，但能提升市场占有率，不过合同履行存在受不可抗力影响的风险。 ...

Core Insights - Shenzhen Das Intelligent Co., Ltd. has signed a contract with Zhaoqing Warren Century Hotel Co., Ltd. for the Warren Century Plaza smart project, with a contract value of 13.09 million yuan [1] - The project involves the weak current intelligentization of Warren Century Plaza, which is being developed to international five-star standards with a total construction area of 69,356.78 square meters and an estimated total investment of approximately 1 billion yuan [1] - Das Intelligent will provide a comprehensive smart space solution, including RCU guest control systems, energy management systems, and video surveillance systems, with a total construction period of 318 calendar days [1] Company and Industry Impact - The project aligns with the company's vision of becoming a global leader in smart space services, enhancing its strategic focus on enterprise park development [2] - The project responds to national policies emphasizing digital platform construction in enterprise parks, allowing the company to leverage policy benefits and increase market share in smart space products and services [2] - The contract amount represents 0.41% of the company's audited revenue for 2024, which, while not significantly impacting profits, positively contributes to market share in the enterprise park sector [2]

Project Overview - Shenzhen Dashi Intelligent Co., Ltd. has won a bid for the procurement project of the comprehensive monitoring system for the second phase of Shenzhen Metro Line 13, with a bid amount of 122 million yuan [1][5] - The project includes two parts: a south extension of approximately 4.1 km with 3 stations and a north extension of 19.25 km with 11 stations, including 5 transfer stations [1] Company and Counterparty Information - The counterparty, Hong Kong Railway Co., Ltd., operates the project and has a good credit standing, with no risks related to performance capability or payment ability [3] - The company has a history of transactions with the counterparty, with amounts of 10.01 million yuan, 30.03 million yuan, 35.03 million yuan, and 10.01 million yuan from 2022 to 2025, representing 2.09%, 5.75%, 6.26%, and 2.09% of the company's similar business revenue respectively [3] Impact on the Company - The project aligns with the company's vision of becoming a global leader in smart space services, utilizing its self-developed AIoT intelligent IoT control platform [3] - This project marks a continuation of the company's long-term cooperation with Hong Kong Railway, reflecting the owner's recognition of the company's comprehensive strength and service level in the rail transit field [3] Technological Integration - The project will utilize the company's AIoT platform, integrating technologies such as 5G/WIFI6, cloud computing, big data, and industrial IoT [4] - The design will focus on modularity, standardization, and service orientation, providing customized scenarios and emergency response capabilities [4] Financial Implications - The project amount of 121,600,866 yuan accounts for 3.83% of the company's audited revenue for 2024, and is expected to positively impact the company's net profit in future years [5]

Overview of Operating Performance - The company reported total revenue of 3.171 billion yuan in 2024, a year-on-year decrease of 17.28% [1] - The net profit attributable to shareholders was 25.8812 million yuan, down 77.45% year-on-year [1] - The net profit after deducting non-recurring items was 1.5955 million yuan, a decline of 97.85% year-on-year [1] - In Q4, total revenue was 1.025 billion yuan, a decrease of 7.26% year-on-year [1] - The net profit for Q4 was -22.1067 million yuan, a decline of 358.85% year-on-year [1] - The net profit after deducting non-recurring items for Q4 was -32.1308 million yuan, down 198.99% year-on-year [1] Key Financial Indicators - The gross profit margin increased to 27.47%, up 15.0% year-on-year [2] - The net profit margin was only 0.67%, a decrease of 77.1% year-on-year [2] - Total selling, administrative, and financial expenses amounted to 662 million yuan, accounting for 20.87% of revenue, an increase of 26.8% year-on-year [2] Assets and Liabilities - Accounts receivable rose significantly to 1.882 billion yuan, an increase of 36.16% year-on-year [3] - Interest-bearing liabilities reached 3.328 billion yuan, up 11.30% year-on-year [3] - Cash and cash equivalents were 1.599 billion yuan, an increase of 1.90% year-on-year [3] Per Share Metrics - The net asset per share was 1.6 yuan, a decrease of 0.58% year-on-year [4] - Earnings per share were 0.01 yuan, down 77.82% year-on-year [4] - Operating cash flow per share was 0.02 yuan, a decline of 4.52% year-on-year [4] Cash Flow and Debt Situation - The net cash flow from operating activities was 46.9722 million yuan, remaining positive for six consecutive years [5] - The ratio of cash and cash equivalents to current liabilities was only 96.6% [5] - The average ratio of operating cash flow over the past three years to current liabilities was 17.36% [5] - The interest-bearing asset-liability ratio was 34.54% [5] - The ratio of total interest-bearing liabilities to the average operating cash flow over the past three years was 11.37% [5] Accounts Receivable Risk - Accounts receivable accounted for 7271.47% of profit, primarily due to delayed payments from PPP projects [6] - The company is actively following up on the progress of fiscal allocations to ensure project operations and collections [6] Development Prospects and Risks - The company aims to become a global leader in smart space services, leveraging an AIoT intelligent IoT management platform [7] - Despite facing risks such as insufficient market demand, accounts receivable recovery, and PPP project asset impairment, the company plans to address challenges through technological innovation, market expansion, and internal management optimization [7]