JSST(SZ:002609)2022-12-06 11:21Group 1: Company Overview and Strategy - The company, Shenzhen Jieshun Technology Co., Ltd., is positioned as a smart device supplier and plans to expand into platform and data services, including smart parking and community operation support services [2][3]. - In 2015, the company conducted pilot projects and aims for large-scale project promotion and operational expansion in 2016 [3][4]. - The company has a goal to connect over 6,000 parking lots this year, with a target of reaching 20,000 within three years [5]. Group 2: Market Position and Competition - Jieshun has established a comprehensive business chain, including smart terminal products, management software, third-party payment, and mobile applications, with over 1,000 connected parking lots by the end of last year [5][6]. - The company has a strong marketing service network with 23 direct subsidiaries and over 100 distributors, making it difficult for new entrants to pose a significant threat [5]. - Jieshun's revenue is primarily derived from smart terminal devices, but it plans to increase its software segment through platform development [4][6]. Group 3: Financial Performance and Investment - The company has invested tens of millions in building its operation center and has established a data operation department to support its growing user base [4][5]. - R&D investment has consistently exceeded 25% of the previous year's profit, reflecting the company's commitment to innovation [8]. - The company aims to maintain a balance between internal growth and external acquisitions, focusing on resource-oriented and technology-driven companies [8]. Group 4: Industry Challenges and Adaptation - The real estate industry's cyclical nature has not significantly impacted Jieshun's performance, as its business is more closely tied to property management needs rather than new developments [6]. - The company recognizes the competition from internet firms in the smart community and parking services but believes its extensive offline customer base and tailored payment solutions provide a competitive edge [7].