DAS(SZ:002421)2023-12-15 00:54Group 1: Company Overview and Performance - The company’s headquarters, the Dashi Intelligent Building, is valued at least 5 billion RMB and serves as a research and demonstration platform for IoT technology [2] - As of September 30, 2023, the net value of the Dashi Intelligent Building is 836 million RMB, calculated using the cost method [2] - In the first half of 2023, the company achieved a 94.33% year-on-year increase in signed and awarded contracts in the smart space business targeting corporate headquarters and parks [1][3] Group 2: Market Position and Growth Potential - The construction industry in China has a market value exceeding 1.1 trillion USD, providing significant growth opportunities for the company [2] - The company aims to leverage its Dashi Intelligent Building as a testing ground for IoT technology to meet genuine user demands and innovate smart building solutions [2] - The company has plans for international expansion, having represented Shenzhen at the COP28 climate conference to share low-carbon innovation technologies [2] Group 3: Financial Health and Investor Relations - The company raised 700 million RMB through a private placement in 2023, with 310 million RMB allocated for core product development and 390 million RMB for the application of R&D results [3] - The company’s stock price has been affected by various factors, including significant write-downs related to debts from Evergrande, which amounted to 750 million RMB [3] - The management is confident in the company’s future prospects, supported by favorable policies in IoT and carbon neutrality [3] Group 4: Competitive Landscape - The company does not have direct competitors in its business model but faces competition in specific sectors, such as rail transit and smart hospitals [3][4] - Key competitors include Baoxin Software in rail transit and Huakang Century in smart hospital management [3]