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]

Core Viewpoint - The collaboration between Changjiu Co., Ltd. and FAW Toyota marks a significant milestone for the Jiuchergou platform, focusing on exploring lower-tier markets and enhancing sales efficiency through digital capabilities [1][2] Group 1: Partnership Details - Changjiu's wholly-owned subsidiary, Beijing Changjiu Internet Technology Co., Ltd., has signed a project cooperation agreement with FAW Toyota to be the exclusive distributor for the Corolla 1.2T model in mainland China [1] - The partnership allows for dynamic adjustment of production capacity based on market demand, aiming to connect directly with county-level customers and improve sales management [1] Group 2: Platform Capabilities - The Jiuchergou platform demonstrates three core capabilities: user connection to lower-tier markets, digital supply chain product capabilities, and real-time traceability of data processing [2] - As of April 7, 2025, the Jiuchergou platform has registered 52,300 automotive dealers covering 1,376 county-level markets, showcasing its digital linking ability and improved automotive circulation efficiency [2] Group 3: Financial and Strategic Implications - The cooperation is expected to provide direct financial contributions to the group and enhance the Jiuchergou platform's influence in lower-tier markets [2] - The board believes that the agreement will create new performance growth points and will continue to explore AI applications and develop a new retail ecosystem suitable for lower-tier markets [2]