Core Insights - The online consumption market is undergoing a significant transformation driven by the digital economy, shifting from traffic dividends to technology and data dividends [1] - Quantitative Company has achieved continuous revenue growth for three consecutive years, becoming a focal point in the industry [1] Industry Overview - In the first eight months of this year, the national online retail sales increased by 9.6% year-on-year, outpacing the growth rate of total retail sales of consumer goods, with physical goods online retail sales growing by 6.4% [1] - The company operates in the Chinese consumption sector, focusing on online market operations and leveraging its self-developed AI technology platform to enhance consumer and partner experiences [1] Company Performance - Quantitative Company reported a significant revenue increase of 87.5% in 2024, reaching RMB 993 million, with a continued revenue growth of 38.1% expected by May 2025 [3] - The company has shown strong profitability and resilience, with adjusted profits consistently rising [3] Technological Development - The company emphasizes technological research and development, with 79 technical personnel making up about 35% of its total workforce as of May 31, 2025 [3] - It has invested in R&D, accumulating 9 patents and 58 software copyrights, and launched the "Quantitative Star Inquiry" model, which provides precise matching solutions for business partners [3] Customer Base and Market Strategy - As of May 31, 2025, the company has attracted over 60.3 million registered end customers, establishing a substantial customer base [4] - The company focuses on high-frequency consumption scenarios such as e-commerce and O2O automotive retail, enhancing customer conversion and efficiency through deep partnerships [4] - By integrating AI algorithms with market experience, the company provides a one-stop infrastructure for both supply and demand sides, positioning itself as a leader in the online consumption market [4]

Core Insights - The digital economy has become a core engine driving high-quality economic development in China, with significant growth in patent authorizations and data enterprise numbers [1] - The company, Quantitative, is preparing for an IPO on the Hong Kong Stock Exchange, highlighting the growth potential in the online consumption service sector [1] Financial Performance - From 2022 to 2024, the company's total revenue increased from 475 million RMB to 993 million RMB, with a compound annual growth rate (CAGR) of 44.54% [1] - In the first five months of 2025, total revenue reached 414 million RMB, reflecting a year-on-year growth of 38.1% [1] - Adjusted profit surged from 126 million RMB in 2022 to 363 million RMB in 2024, with a CAGR of 69.6%, and reached 212 million RMB in the first five months of 2025 [1] Market Position and Strategy - The company addresses three core pain points in the online consumption market: high customer acquisition costs, consumer choice difficulties, and inefficient connections between merchants and users [2] - By leveraging AI and digital technology, the company has built a comprehensive system that enhances user experience and reduces marketing costs [2] - As of May 31, 2025, the company has over 60.3 million registered users and 2,646 business partners, creating a strong network effect [3] Industry Outlook - The online consumption service sector is benefiting from supportive government policies aimed at promoting digital economy growth and enhancing digital consumption [4][5] - The online consumption market in China is projected to grow from 13.9 trillion RMB in 2020 to 25.7 trillion RMB in 2024, with a CAGR of 16.5% [5] - The market share of online consumption in overall retail is expected to increase, reaching 36.9% in 2024 [5] Trends and Opportunities - Key trends include the deepening application of AI technology and the rise of lower-tier city markets, which present new growth opportunities for the company [6][7] - The company can leverage its technological advantages and expand its operational model to lower-tier cities, enhancing its user and merchant base [7] Challenges - The company faces increasing competition in the online consumption service sector, which may raise customer acquisition costs [7] - Data security and privacy regulations are becoming stricter, necessitating improved data governance capabilities [7] Conclusion - The company's IPO marks the beginning of a new phase with broader market opportunities and higher regulatory requirements [8] - The growth trajectory of the company reflects the broader trend of Chinese digital technology firms addressing industry pain points through innovation [8]