Core Insights - Longjiu Co., Ltd. reported a significant increase in net profit for the fiscal year 2024, reaching approximately RMB 161.4 million, a year-on-year growth of 57.8% compared to RMB 102.3 million in 2023 [1][2] - The company's adjusted net profit was approximately RMB 155.6 million, showing a slight increase of 0.8% from RMB 154.4 million in the previous year [1] - Longjiu Co., Ltd. operates as a leading provider of collateral vehicle monitoring services in China's automotive circulation sector, with a business model that integrates technology and ecosystem collaboration [1][2] Business Performance - The core business of collateral vehicle monitoring services generated revenue of RMB 612.47 million, accounting for 90.4% of the total revenue, which was a key driver for the profit growth [2] - The company provides services to 17 commercial banks, 22 automotive finance companies, and over 17,000 automotive dealers, showcasing its extensive market reach [2] Technological Innovation - Longjiu Co., Ltd. has enhanced its core business capabilities through technological innovation, including the development of the VFS system and the integration of machine learning and multimodal large model technologies [3] - The launch of the "JiuchergO" automotive supply chain service platform has transformed the business model to a new B2B transaction mode, significantly improving transaction efficiency [3] Strategic Development - Looking ahead to 2025, Longjiu Co., Ltd. aims to focus on solidifying its foundation, enhancing platform construction, and deepening digital transformation and AI technology applications [4] - The company plans to implement three core initiatives in the collateral vehicle monitoring service sector, including a customer-first approach, the establishment of an intelligent management system, and the creation of a dynamic risk assessment model [4] Operational Management - In the automotive dealer operational management service area, the company will focus on resource integration, talent acquisition, and strengthening core capabilities to provide comprehensive services and products [5] - Longjiu Co., Ltd. aims to enhance the "JiuchergO" platform by connecting directly with county-level markets and end-users, improving sales efficiency through a combination of online and offline channels [5] Future Outlook - The company emphasizes the importance of a "technology-driven + ecological collaboration" strategy to deepen its strategic layout and promote innovation in AI and big data [6] - Longjiu Co., Ltd. plans to create a smart hub for automotive circulation, develop a data product matrix, and implement a vehicle lifecycle data management platform to enhance industry efficiency and conversion rates [6]

Summary of Longjiu Co., Ltd. 2024 Annual Performance Conference Company Overview - Longjiu Co., Ltd. successfully listed on the Hong Kong Stock Exchange on January 9, 2024, enhancing its brand image and market position, and opening up new development opportunities [1][2][3] Core Business and Financial Performance - In 2024, Longjiu achieved a net profit of 161 million RMB, a year-on-year increase of 58% [3][22] - Total revenue for 2024 was 678 million RMB, reflecting a growth of 5.6% compared to the previous year [3][22] - The company’s revenue primarily comes from two segments: vehicle pledge monitoring services and automotive dealer operation management services [3][8] Key Business Segments Vehicle Pledge Monitoring Services - Longjiu is the largest provider of vehicle pledge monitoring services in China, with a market share of approximately 50%, serving over 17,000 automotive dealers [4][8] - The revenue from this segment grew from 505 million RMB in 2022 to 612 million RMB in 2024, with a gross profit increase from 210 million RMB to 273 million RMB [23] - The service is provided to around 160 banks and financial institutions, covering over 31 provinces and more than 500 cities in China [13] Automotive Dealer Operation Management Services - Launched in April 2022, this service has expanded to 17 provinces and 33 cities, serving 69 automotive dealer clients [5][15] - The revenue from this segment has seen an annual growth rate of approximately 23% [23] Jiucheng Platform - The Jiucheng platform, which focuses on automotive transactions and services, registered 51,000 automotive dealers by the end of 2024, covering 1,047 county-level markets [6][4] - A strategic partnership with FAW Toyota was established, marking a significant milestone for the company [6] Technological Innovations - Longjiu is committed to integrating AI and big data into its operations, enhancing digital capabilities and service efficiency [2][7] - The company has developed the VFS intelligent monitoring system, which connects financial institutions, manufacturers, and dealers for streamlined operations [11][12] - The introduction of AI-driven tools like DeepSeek and ChaiBI aims to improve decision-making and operational efficiency [19][20] Financial Health - The company reported a 6% increase in overall revenue from 641 million RMB in 2023 to 678 million RMB in 2024 [22] - Operating expenses decreased by 18%, while R&D expenses continued to grow, ensuring future technological advancements [22] - Cash flow from operations increased by 30 million RMB, with a year-end cash balance of 371 million RMB [24] Market Insights and Future Strategies - The automotive market in China is projected to grow significantly, with new car sales reaching 27.56 million units in 2024 [16] - Longjiu aims to leverage its digital platform to enhance supply chain efficiency and expand its market presence, particularly in lower-tier cities [17][34] - The company plans to focus on AI and data-driven strategies to optimize operations and improve service delivery in the automotive sector [30][31] Conclusion - Longjiu Co., Ltd. is positioned for continued growth through strategic partnerships, technological innovations, and a focus on enhancing operational efficiency in the automotive industry [52][53]