On July 12th, Futu News reported that $CARLINK TECH (02531.HK)$The dark market opened high today, up 15.11% to HKD 5.41, with a turnover of HKD 0.179 million and a total market value of HKD 1.983 billion.
Market source: Futu Securities.
Company overview
Guanglian Technology Holdings (Dija) is a provider of in-car hardware and SaaS marketing and management services for participants in the Chinese automotive aftermarket industry. It is committed to selling in-car hardware products to industry participants in the value chain and providing SaaS marketing and management services, including SaaS subscription services and SaaS value-added services. The automotive aftermarket industry is highly dispersed and composed of numerous sub-industries. In terms of revenue, the market size of in-car hardware sales and SaaS marketing and management services in the automotive aftermarket industry in 2023 accounts for about 0.5% and 0.4% of the larger-scale automotive aftermarket industry, respectively. According to the Zhoushi Consulting report, the company ranked first in the SaaS marketing and management service providers for the Chinese automotive aftermarket industry in terms of revenue in 2023, with a market share of 6.1%, and ranked third in the in-car hardware providers for the Chinese automotive aftermarket industry in terms of revenue in 2023, with a market share of 3.4%.
Since its establishment and headquarters in Shenzhen in 2012, the company has been committed to supporting customers in the automotive aftermarket industry, using the company's sales of in-car hardware products and SaaS marketing and management services to better establish contact with customers and aim to enhance their marketing and management capabilities, and expand their sources of revenue in the automotive aftermarket industry. With more than ten years of operational experience, the company has developed a set of industry-specific products and services for participants in the value chain of the automotive aftermarket industry to improve their marketing and operational efficiency, combined with its industry insights and ability to make use of technology.
During the previous reporting period, the company's in-car hardware products were mainly installed in ICEVs. The company's SaaS subscription service revenue is not heavily dependent on the sales of in-car hardware products, mainly because there are limited interactions between the company's Dija SaaS and its in-car hardware products (i.e., in-car security hardware used for location finding).
The following diagram provides an overview of the company's business model during the previous reporting period:
Financial overview
In terms of financial position, Guanglian Technology Holdings had revenues of RMB 0.327 billion, RMB 0.414 billion, and RMB 0.561 billion in the fiscal years 2021, 2022, and 2023, respectively, with a compound annual growth rate of 30.98%; and gross profits of RMB 94.681 million, RMB 1.732 billion, and RMB 2.518 billion in the same period, respectively, with a compound annual growth rate of 63.07%.
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Editor/Joe