JSST(SZ:002609)2024-12-12 11:35Group 1: Company Overview and Market Position - The company focuses on the smart parking sector, which is part of the new infrastructure for smart cities, providing integrated solutions including smart parking management systems and cloud hosting services [3][4]. - The company has a market share of approximately 30% in cities where it has direct sales coverage [4]. - As of November 30, 2024, the company has reached around 53,000 smart connected parking lots and over 15,000 managed charging lanes [3][5]. Group 2: Financial Performance and Growth - In the first three quarters of 2024, the company reported a 22% year-on-year increase in smart parking operation revenue, a 42% increase in parking asset operation revenue, and a 31% increase in software and cloud service revenue [5]. - The total user base of the "Jie Parking" platform reached approximately 130 million, with an expected annual transaction volume of 13-14 billion [4][5]. - The company's net profit for the first three quarters of 2024 was 43.01 million, a decrease of 48.81% year-on-year, primarily due to revenue decline [5]. Group 3: Strategic Goals and Future Outlook - The company aims to drive business development by focusing on three strategic directions: enhancing parking space-level operations, developing smart community solutions, and scaling operational business [3]. - The company is optimistic about the growth of its destination charging business due to the rapid increase in private electric vehicles in the domestic market [3][4]. - The company has implemented a stable dividend policy, with cumulative cash dividends amounting to 796 million since its listing, and has repurchased shares worth over 275 million [4].