Jieshun Technology (002609): Smart parking faucets are beginning to change from quantitative to qualitative
Product precipitation, sufficient funds, the company’s leading advantages continue to expand, high-quality products continue to precipitate, and the ecological system has initially formed.
In terms of intelligent hardware, we will deepen the application of AI technology. In terms of platforms, we will launch the Tianqi Smart IoT Management Platform and parking lot cloud seats to provide unified management of multiple services. In terms of operations, the profitable model of smart parking operations has been successfully implemented and the promotion model has gained marketverification.
The “smart hardware + platform + operation” ecology of the existing company has taken shape, and the second half of the ecological transformation will begin soon.
In the industry, the company has maintained a capital advantage of resistance for a long time, with abundant capital reserves and credit space, which has guaranteed the company to take the initiative in industry development and competition.
Relying on capital advantages, the company continued to strengthen research and development to promote the transformation of research and development results into new products, and the company’s leading advantages gradually increased.
The adjustment period of traditional business has passed. Strengthening the channel construction and consolidating the foundation for development. The company lowered the price of terminal equipment in the early stage, promoted the staging model, and reduced the dimension of some competitors. The smart parking business expanded rapidly.
In early 2018, Ant Financial invested a US $ 2 million strategy to invest in the company’s Shunyitong, further accelerating the development of smart parking business.
The company strengthened the channel construction and consolidated the foundation for development.
The company launched the “Urban Partnership Plan” and “Qiancheng Franchise Plan” in 2018. The channel construction has developed significantly. The city partnership plan has established 6 joint ventures. The Qiancheng Franchise Plan has more than 50 franchisees within 3 months of its launch.Finish signing.
Industry competition has returned to rationality, and the impact of price reductions has been eliminated.
Internet start-ups have insufficient hardware skills, and free-standing models relying on financing for development continue to show shortcomings, and Internet start-ups continue to fade out of the market in the capital winter.
The impact of the company’s initial price reduction has basically been eliminated, and the subsequent market concentration of the benefiting industries will increase.
The scale-up of new business is about to cross the break-even point 2B. The company’s AI cloud service solution “Jieshun Cloud Agent” and Tianqi Smart IoT Management Platform will greatly help the property to reduce costs and increase efficiency.
In terms of 2B2C, the company and the bank carried out parking discounts, parking coupon replenishment, etc., and the implementation of the channel service profit model with insurance institutions to implement the combination of insurance purchase and parking coupon discounts has been successfully implemented. The company has potential stock advantages in parking lot resources.Helping the business grow.
Profit forecast and estimation Due to the slow progress of the company’s new business exploration in 2018 and the decrease in the gross profit margin, the company’s profit forecast was lowered, and the net profit was 2 from the original forecast of 四川耍耍网 2019/2020.
98 trillion down to 1.
26 trillion, with an additional 2021 forecast3.
17 trillion, corresponding to EPS.
Using the segment estimation method, the company’s corresponding market value in 2019 is about 7.7 billion US dollars, corresponding to 11.
Risk warning: the competition in the parking IT industry has intensified; the progress of smart parking promotion has fallen short of expectations;