Group 1 - The company has received a bid notification from the Shenzhen Municipal Bureau of Construction for the intelligent project at the New Huanggang Port, with a winning bid amount of 55.0564 million yuan [1] - The project includes a comprehensive smart space solution covering environmental monitoring systems, IBMS integration platform systems, information release systems, electronic patrol systems, intrusion alarm systems, and structural health monitoring systems [1] - The bid amount represents 1.74% of the company's audited revenue for the fiscal year 2024, and the project is expected to positively impact the company's net profit in future years [1] Group 2 - Although the company has received the bid notification, a formal contract has not yet been signed, indicating uncertainty regarding the contract signing and its terms [1]

Core Viewpoint - The stock of Dasin Intelligent has shown a slight increase of 2.17% on October 31, with a trading price of 3.29 CNY per share, while the company has experienced a decline in stock price throughout the year and recent trading periods [1] Company Overview - Dasin Intelligent, established on March 17, 1995, and listed on June 3, 2010, is located in Nanshan District, Shenzhen, Guangdong Province. The company specializes in building intelligence and energy-saving services, as well as green building public engineering, industrial automation, and the development, production, and sales of IC card reading and writing devices [1] - The main business revenue composition includes: 79.25% from smart space overall solutions, 12.60% from smart space products and technical services, and 8.15% from smart space operation services and other businesses [1] Financial Performance - For the period from January to September 2025, Dasin Intelligent reported an operating income of 1.473 billion CNY, a year-on-year decrease of 31.36%, and a net profit attributable to shareholders of -415 million CNY, a year-on-year decrease of 964.15% [2] - Since its A-share listing, Dasin Intelligent has distributed a total of 540 million CNY in dividends, with 180 million CNY distributed over the past three years [2] Shareholder Information - As of September 30, 2025, the number of shareholders of Dasin Intelligent reached 129,500, an increase of 8.33% from the previous period, while the average circulating shares per person decreased by 7.69% to 15,490 shares [2] - The top ten circulating shareholders include Southern CSI 1000 ETF, holding 19.3932 million shares (a decrease of 247,100 shares), and Hong Kong Central Clearing Limited, holding 16.5015 million shares (an increase of 16,500 shares) [2]

Core Insights - On October 23, 2023, Dashi Intelligent's stock rose by 1.51%, with a trading volume of 151 million yuan [1] - The company reported a net financing purchase of 6.69 million yuan for the same day, with a total financing and securities balance of 439 million yuan [1][2] Financing Summary - Dashi Intelligent had a financing purchase of 23.47 million yuan on October 23, 2023, with a current financing balance of 437 million yuan, representing 6.14% of its market capitalization [1] - The financing balance is below the 40th percentile level over the past year, indicating a relatively low position [1] - On the same day, the company repaid 800 shares of securities and sold 7,800 shares, with a selling amount of 26,200 yuan [1] Company Overview - Dashi Intelligent, established on March 17, 1995, and listed on June 3, 2010, is based in Shenzhen, Guangdong Province [2] - The company specializes in building intelligence and energy-saving services, contributing 79.25% of its revenue from smart space solutions, 12.60% from products and technical services, and 8.15% from operational services [2] - As of June 30, 2023, the company had 119,600 shareholders, a decrease of 4.20% from the previous period [2] Financial Performance - For the first half of 2023, Dashi Intelligent reported a revenue of 990 million yuan, a year-on-year decrease of 26.80%, and a net profit attributable to shareholders of -88.76 million yuan, a decline of 1053.51% [2] Dividend Information - Since its A-share listing, Dashi Intelligent has distributed a total of 540 million yuan in dividends, with 180 million yuan distributed over the past three years [3] Institutional Holdings - As of June 30, 2023, the top ten circulating shareholders included Southern CSI 1000 ETF, which increased its holdings by 3.76 million shares to 19.64 million shares [3] - Hong Kong Central Clearing Limited reduced its holdings by 5.59 million shares to 16.49 million shares [3] - Other ETFs, such as Huaxia CSI 1000 ETF and GF CSI 1000 ETF, also increased their holdings [3]

Core Insights - The stock of Dasin Intelligent increased by 0.29% on September 30, with a trading volume of 102 million yuan, indicating a slight positive market sentiment towards the company [1] - The company reported a net financing outflow of 4.58 million yuan on the same day, suggesting a cautious approach from investors [1] - As of June 30, 2025, Dasin Intelligent's revenue decreased by 26.8% year-on-year, and the net profit attributable to shareholders was negative, indicating financial challenges [2] Financing and Trading Activity - On September 30, Dasin Intelligent had a financing buy-in of 8.78 million yuan and a financing repayment of 13.36 million yuan, resulting in a net financing buy-in of -4.58 million yuan [1] - The total financing and securities balance for Dasin Intelligent reached 403 million yuan, with the financing balance accounting for 5.52% of the circulating market value, which is below the 30th percentile level over the past year [1] - The company had a high securities lending balance, with 414,500 shares available for lending and a total lending balance of 1.42 million yuan, exceeding the 50th percentile level over the past year [1] Company Overview - Dasin Intelligent, established on March 17, 1995, and listed on June 3, 2010, specializes in building intelligence and energy-saving services, as well as green building public engineering and industrial automation [2] - The company's revenue composition includes 79.25% from smart space overall solutions, 12.60% from smart space products and technical services, and 8.15% from smart space operation services and other businesses [2] - As of June 30, 2025, the number of shareholders decreased by 4.2% to 119,600, while the average circulating shares per person increased by 4.39% to 16,781 shares [2] Dividend and Shareholder Information - Dasin Intelligent has distributed a total of 540 million yuan in dividends since its A-share listing, with 180 million yuan distributed over the past three years [3] - Among the top ten circulating shareholders as of June 30, 2025, Southern CSI 1000 ETF holds 19.64 million shares, an increase of 3.76 million shares from the previous period [3] - Hong Kong Central Clearing Limited, the fourth-largest shareholder, reduced its holdings by 5.59 million shares, while other ETFs like Huaxia CSI 1000 ETF and GF CSI 1000 ETF increased their holdings [3]

Project Overview - The company signed a contract with Mi Space Wuhan Information Technology Co., Ltd. for the Xiaomi Wuhan Phase II Intelligent Project, with a contract amount of 23.87 million yuan [1][2] - The project aims to develop a large R&D center for Xiaomi's smart hardware products, covering an area of 143,000 square meters, including 9 office buildings and 3 apartment buildings [1][2] Project Details - The project is located in the East Lake New Technology Development Zone, south of Gaoxin Fourth Road and west of Guanggu Fourth Road [2] - The service content includes a comprehensive smart space solution, incorporating various subsystems such as information release systems, meeting room reservation systems, video surveillance systems, access control systems, and more [2][3] - The contract duration is set for 222 calendar days [2] Company Vision and Market Position - The company aims to become a global leader in smart space services, focusing on AIoT intelligent IoT control platforms and modular space applications [4] - The company has implemented smart building solutions across 30 provincial-level administrative regions, over 200 cities, and more than 3,000 projects in China [4] - Previous projects in Wuhan include notable cases such as the Jingpai (Wuhan) Real Estate weak current intelligent project and the United Imaging Medical Wuhan headquarters base Phase II project [4]

Core Insights - The company, Dasin Intelligent (002421.SZ), has signed a contract with Mi Space Wuhan Information Technology Co., Ltd. for the Xiaomi Wuhan Phase II Smart Project, with a contract value of 23.869 million yuan [1][3]. Project Overview - Project Name: Xiaomi Wuhan Phase II Smart Project [2] - Project Background: The Xiaomi Wuhan Technology Park covers an area of 143,000 square meters, including 9 office buildings and 3 apartment buildings, aimed at research, production, and manufacturing of Xiaomi smart hardware products, contributing to the digital economy in Wuhan [2]. - Project Location: South of Gaoxin Fourth Road and West of Guanggu Fourth Road in the East Lake New Technology Development Zone [3]. Contract Details - Contract Amount: 23,869,036.07 yuan [3]. - Service Content: The company will provide a comprehensive smart space solution, including various subsystems such as information release systems, meeting room reservation systems, video surveillance systems, access control systems, intrusion alarm systems, smart locks, visitor management systems, parking management systems, and data rooms [3]. - Contract Duration: 222 calendar days [3]. - Payment Method: Payments will be made according to the progress as stipulated in the contract [4]. - Contract Activation: The contract becomes effective upon the stamping by both parties [4]. Company Vision and Market Position - The company aims to become a global leader in smart space services, leveraging its self-developed AIoT intelligent IoT control platform to provide lifecycle smart space services across various sectors, including enterprise parks, hospitals, urban rail transit, and data centers [5]. - The company has implemented smart building solutions based on "IoT + AI" across 30 provincial-level administrative regions, over 200 cities, and more than 3,000 projects, establishing a strong presence in the smart building industry [5]. - Previous projects in Wuhan include notable cases such as the weak current intelligent project for Jinpai (Wuhan) Real Estate and the second phase project for United Imaging Healthcare, which serve as benchmarks for the company's smart space services [5].

Core Insights - The smart building market in China is projected to reach a scale of 675.397 billion yuan in 2024, with segments including smart residential buildings at 232.752 billion yuan, smart public buildings at 156.376 billion yuan, and smart industrial buildings at 286.269 billion yuan [1][10] - The demand for smart buildings is driven by the application of smart technologies in new constructions and the intelligent renovation of existing buildings [10][12] - The global smart building market is expected to grow to 335.637 billion USD in 2024, with a year-on-year increase of 1.54% [8] Smart Building Industry Classification and Characteristics - Smart buildings integrate building equipment, office automation, and communication network systems to provide a safe, efficient, comfortable, and convenient environment [2][4] - The technological foundation of smart buildings includes building automation, communication automation, office automation, fire safety automation, and security automation [2] Current Development Status of the Smart Building Industry - The smart building sector has expanded from office buildings to residential areas, utilizing modern control technologies and integrating various systems [4][10] - The market is characterized by increasing competition, with both international brands and domestic companies actively participating [4][10] Smart Building Industry Development Trends - The future of smart buildings is focused on sustainable development technologies, with innovations in eco-friendly materials, advanced energy management, and the integration of AI and IoT [25] - The industry is expected to continue growing, driven by technological advancements that enhance efficiency and improve living quality [25] Smart Building Industry Competitive Landscape - Major international players like Johnson Controls, Honeywell, and Schneider dominate the high-end market, while domestic companies such as Huawei, Haier Smart Home, and Dashi Intelligent focus on mid to low-end markets [18][20] - The competition encompasses various dimensions, including technology, pricing, branding, and ecosystem development [18] Key Companies in the Smart Building Sector - Haier Smart Home reported a global revenue of 285.981 billion yuan in 2024, with a year-on-year growth of 4.29% [21] - Dashi Intelligent achieved a total revenue of 3.171 billion yuan in 2024, with significant contributions from its smart space solutions [23]