Tiamaes(SZ:300807)2024-01-31 08:38Group 1: Company Overview and Market Challenges - Tianmai Technology was established in 2004, primarily engaged in the intelligent transportation industry, including smart buses and taxis, leveraging technologies like IoT, big data, and 5G to provide comprehensive hardware and software solutions [3] - The public transportation sector has faced significant challenges, with a 28.7% year-on-year decline in bus sales in 2023, exacerbated by changes in passenger travel habits due to the pandemic [3] - The company's 2023 revenue fell short of expectations, resulting in substantial net losses, prompting considerations for business transformation towards smart commercial vehicle cockpits and new energy charging stations [3] Group 2: Shareholder Engagement and Business Strategy - The recent agreement for the transfer of shares by the controlling shareholder aims to introduce investors with advantageous resources and experience in the automotive electronics and smart transportation sectors to assist in the company's business transformation [4] - The company initiated a simplified stock issuance process in May 2023 to raise funds for the development and industrialization of smart cockpits for commercial vehicles, but progress has been delayed due to new refinancing regulations [4] - Future stock incentive measures are being considered to enhance employee motivation, following a less than ideal implementation of the previous incentive plan due to overly ambitious performance targets [4] Group 3: Product Development and Market Position - The importance of smart cockpits is increasing as vehicles become more intelligent and connected, with the company focusing on commercial vehicles where safety and operational efficiency are paramount [4] - The first generation of the smart cockpit prototype has been completed, with market promotion efforts underway, although significant revenue contributions are not expected in the near term [4] - The company has invested heavily in chip and application software development, optimizing traditional business architectures, which will reduce future R&D expenditures [5] Group 4: SaaS Opportunities and Future Projects - The company has some applications of SaaS software in urban traffic management, albeit on a small scale, with plans to leverage SaaS for rapid software deployment in smart cockpit products [5] - A collaboration with the State Grid for a charging demonstration station in Xiong'an began in 2020, with potential for future replication based on market demand [5]