在这场变革中，IT产业作为AI发展的基础支撑和技术保障，正通过聚焦发展高性能计算设备、先进的数 据处理工具以及智能化产品与服务，为AI技术的落地和应用提供关键支持。与此同时，AI的发展也进 一步加速了IT产业的变革与升级，不论是IT设备的加速更新换代，还是各类新的IT设备的创新创造，如 智能机器人、智能传感器、智能监控设备等Physical AI硬件产品的出现，都在推动着IT产业向更高效、 更智能的方向发展。 然而，在这一背景下，传统的IT设备采购和管理模式已经难以适应企业对快速技术迭代和成本控制的需 求。面对这一困境，DaaS（Device as a Service，设备即服务）模式凭借灵活的设备租赁、全生命周期 管理以及智能化服务，成为企业应对这些挑战的理想选择。其不仅重新定义了企业获取和使用IT设备的 方式，更能够有效帮助企业降低设备更新的成本和风险，提升设备管理的效率和灵活性，使企业能迅速 响应市场与技术的变化。 在DaaS行业中，凌雄科技作为领军企业，或将迎来新的成长机遇期。这个从2004年以销售电脑起步的 公司，经过20多年的积累，已经构筑了围绕IT设备从租赁到回收等一整套涵盖设备全生命周期管理及 ...

Core Insights - Lingxiong Technology, the parent company of Xiaoxiong U Rental, has emerged as a leading player in the DaaS (Device as a Service) sector in China, showcasing a successful evolution alongside the digital economy in Shenzhen [1][7]. Company Development - Founded in 2004 by Hu Zuoxiong in Huaqiangbei, Lingxiong Technology initially focused on DIY computer sales and second-hand computer trading, quickly becoming a market leader [4]. - The company pivoted to the IT office equipment short-term rental market after identifying a rental demand during an exhibition in 2008 [5]. - In 2013, Lingxiong introduced a long-term rental model for IT office equipment, allowing businesses to pay monthly and providing comprehensive IT services, which helped reduce initial investment by approximately 97% and operational costs by 10%-30% over three years [6]. Business Model and Achievements - By 2017, Lingxiong expanded its services to include IT equipment recycling and launched a SaaS management system in 2018, creating a closed-loop DaaS service model that manages the entire lifecycle of IT equipment [6]. - As of now, Lingxiong has assisted thousands of companies, including many Fortune 500 firms, in reducing costs and improving efficiency, with a service network covering over 380 cities and a customer satisfaction rate exceeding 98% [7]. - The company went public on the Hong Kong Stock Exchange on November 24, 2022, marking its transformation from a small business to an industry leader [7]. - In 2024, Lingxiong's revenue grew by 32.3% year-on-year to 2.372 billion yuan, and in the first half of 2025, revenue increased by approximately 18.5% to 1.117 billion yuan, maintaining its position as the industry leader [7]. Industry Impact and Social Responsibility - Lingxiong has taken on a leadership role in the DaaS industry, actively participating in the establishment of industry standards and promoting high-quality development [9]. - The company has initiated the "Credit Ease+" alliance to enhance China's social credit system and has contributed to the formulation of several national standards related to IT equipment recycling and credit evaluation [9]. - In terms of social responsibility, Lingxiong has donated teaching computers to rural schools and has implemented IT remanufacturing technologies to support digital education, contributing to sustainable development [10]. - The company has also significantly reduced carbon emissions, with a net reduction of over 83,740 tons in 2024 alone, by extending the lifecycle of IT equipment [10]. Entrepreneurial Philosophy - Hu Zuoxiong emphasizes a long-term, iterative approach to business, focusing on innovation and customer value rather than short-term gains [11]. - His leadership reflects the adaptability and resilience of Shenzhen entrepreneurs in navigating economic fluctuations and industry changes [11].

Core Viewpoint - Lingxiong Technology (02436) reported a strong performance for the six months ending June 30, 2025, with revenue of RMB 1.117 billion, representing a year-on-year increase of 18.47% and a turnaround to profit with a net profit attributable to shareholders of RMB 5.655 million, resulting in a basic earnings per share of RMB 0.02 [1] Group 1 - The company achieved a turnaround to profitability due to continuous expansion of service scale, implementation of refined expenditure management measures, process optimization, and digital enhancements to operational efficiency [1] - The company received industry recognition and policy support, highlighting the strategic value of its integrated circular business model [1] Group 2 - In January 2025, the company was selected as one of the second batch of national-level service industry standardization pilot enterprises, affirming its leadership in establishing industry benchmarks for standardized, high-quality equipment lifecycle management solutions [1] - In April 2025, the company was recognized as one of the first batch of pilot enterprises for second-hand goods circulation, a significant policy initiative aimed at promoting resource conservation and environmental protection, further reinforcing its role in sustainable development and IT equipment reuse [1] - In July 2025, the company was awarded the title of "Gazelle Enterprise" in Shenzhen, showcasing its strong innovation capabilities, rapid growth, and significant industry development potential [1]

Core Viewpoint - Lingxiong Technology (02436) reported a strong performance for the six months ending June 30, 2025, with revenue of RMB 1.117 billion, an increase of 18.47% year-on-year, and a profit attributable to shareholders of RMB 5.655 million, marking a turnaround from loss to profit [1] Financial Performance - The company achieved revenue of RMB 1.117 billion, reflecting an 18.47% year-on-year increase [1] - Profit attributable to shareholders was RMB 5.655 million, indicating a return to profitability [1] - Basic earnings per share were RMB 0.02 [1] Business Development - The company experienced strong growth in the first half of 2025, driven by the expansion of service scale and refined expenditure management across various business segments [1] - Operational efficiency was enhanced through digitalization initiatives [1] Industry Recognition and Policy Support - In January 2025, the company was selected as one of the second batch of national-level service industry standardization pilot enterprises, affirming its leadership in establishing high-quality equipment lifecycle management solutions [1] - In April 2025, the company was recognized as one of the first batch of pilot enterprises for second-hand goods circulation, supporting national policies aimed at resource conservation and environmental protection [1] - In July 2025, the company was awarded the title of "Gazelle Enterprise" in Shenzhen, highlighting its strong innovation capabilities and significant growth potential in the industry [1]

Core Viewpoint - The article emphasizes the importance of sustainable development and the role of leading companies in the DaaS (Device as a Service) industry, particularly focusing on the initiatives taken by Lingxiong Technology to promote green and low-carbon economic practices [1][2]. Group 1: Sustainable Development Initiatives - Lingxiong Technology hosted a forum on World Environment Day to discuss new models and paths for green low-carbon economy, highlighting the significance of technological innovation and collaboration in achieving sustainability [1]. - The company aims to reduce carbon emissions significantly, with a target of net carbon reduction of over 83,000 tons in 2024, reflecting the growing emphasis on sustainable practices in the IT equipment sector [2]. Group 2: Circular Economy and DaaS Model - Lingxiong Technology integrates circular economy principles into its business strategy, offering a comprehensive lifecycle management model that includes equipment recovery, subscription services, and IT technology services [3]. - The company recycles over a million second-hand IT devices annually from top internet firms in China, extending the lifespan of refurbished devices by 3 to 5 years, which contributes to significant reductions in carbon emissions [3]. Group 3: Industry Standards and Collaboration - The DaaS industry in China is experiencing steady growth, with a compound annual growth rate exceeding 32%, and is projected to surpass 100 billion yuan by 2025, necessitating collaborative efforts for sustainable development [4]. - Lingxiong Technology has taken the lead in establishing industry standards, including the first national standard for office computer recycling and reuse, which enhances market transparency and promotes resource recycling [5]. - The company emphasizes the need for cross-industry collaboration to integrate sustainability into product design and establish trust mechanisms in second-hand markets, advocating for a collective effort to turn green initiatives into actionable solutions [5].