Summary of Guotou Intelligent's Conference Call Company Overview - Guotou Intelligent has undergone a name change to eliminate "Xiamen" from its title, aiming to clarify its positioning as a central enterprise and enhance its image in the national and international markets [3][20]. Key Industry Insights - The company reported a **42% year-on-year increase** in new orders for the first half of 2025, driven by significant opportunities in **5G** and public safety big data [2][3]. - The public safety big data and enterprise digitalization sectors saw growth exceeding **100%** [2][3]. - The company secured a **5G platform project** in Guangdong with a bid amount of **132 million yuan**, expected to be completed by Q4 [2][4]. Product and Technology Developments - Guotou Intelligent launched **11 new AI-powered evidence collection applications**, enhancing existing products like Super Cube and Super Elf [2][5]. - The company developed four new confidentiality inspection products for disciplinary inspection commissions, receiving recognition from national leadership [5]. - The **Starfire Platform** and **Evidence Cloud Platform** have been established to improve efficiency in evidence collection and analysis [5]. Market Position and Achievements - Guotou Intelligent holds over **50% market share** in the public safety big data sector, with successful bids in cities like Guangzhou and Beijing [6][7]. - The company has deployed the **Smart Xiaomei Police Assistant** and various intelligent interfaces in over **20 provinces**, creating more than **500 premium intelligent agents** [7]. - The **Tianqing V5 model** focuses on case analysis and command dispatch, enhancing the company's reputation in the public safety sector [7]. AI and Security Initiatives - The company has introduced AI security products that have helped recover over **30 billion yuan** in losses through its anti-fraud data platform [8]. - Guotou Intelligent is establishing a comprehensive anti-fraud product system, with a model in Guizhou serving as a national template [8]. Business Expansion and Partnerships - The company signed strategic agreements with two mobile manufacturers to embed its SDK in new smartphones, targeting sales of **50,000 to 100,000 units** per model [11][19]. - Guotou Intelligent is exploring the application of anti-fraud technology in both B2B and B2C markets, with plans to offer a monthly service fee model [12]. Financial Performance and Projections - Despite a loss of over **400 million yuan** last year, the company expects double-digit revenue growth in 2025, supported by new and existing orders [20]. - The company is focusing on cost control and efficiency improvements to enhance profitability [21]. Challenges and Strategic Responses - The electronic data collection business has faced revenue declines, prompting the company to explore new technologies and expand into emerging markets [23][24]. - Guotou Intelligent is addressing underperformance in subsidiaries by enhancing collaboration and leveraging resources from the parent company [25]. Future Outlook - The company anticipates significant growth opportunities driven by the upcoming **15th Five-Year Plan**, focusing on AI integration across various sectors [31]. - The public safety big data business is expected to benefit from the rollout of **5G projects**, with a projected market size in the tens of billions of yuan [32]. Conclusion - Guotou Intelligent is committed to innovation and quality, as evidenced by its new office space designed to showcase its AI applications and products [34].

证券研究报告 国投智能 (300188 CH) 鉴真平台需求有望加速释放 | 华泰研究 | | | 季报点评 | | --- | --- | --- | --- | | 2025 年 | 4 月 | 27 日│中国内地 | 计算机应用 | 公司发布 2025 年一季报，实现营业收入 2.15 亿元，同比增长 10.86%，归 母净利润亏损 1.26 亿元，去年同期亏损 0.34 亿元，亏损加大的原因主要是 去年同期公司取得 1.4 亿元的投资收益。扣除投资收益影响，公司扣非净利 润亏损 1.28 亿元，去年同期亏损 1.61 亿元，减亏来自于公司收入增长以及 公司费用管控能力进一步加强。我们预计 2025 年公司天擎公共安全大模型、 鉴真工作站等 AI 产品销售放量，全年收入有望恢复增长，维持买入评级。 费用及应收管控能力显著加强 2025Q1 公司毛利率为 35.20%，同比下降 6.04pct，销售/管理/研发费率分 别为 35.99%/35.00%/43.71%，同比下降 6.98/6.01/16.04pct，费用管控能 力显著加强。公司销售商品、提供劳务收入为 2.91 亿元，同比增长 16.34%， ...