Asia Vets Finance App reported that Carlink Tech (02531) announced that in the third quarter of 2024, the group achieved revenue of 0.185 billion yuan, a 29.7% year-on-year increase; software and service business revenue of 0.146 billion yuan, a 66.6% year-on-year increase; gross profit of 0.124 billion yuan, an 87.3% year-on-year increase; gross margin of 67%.

In the first three quarters of 2024, the group generated revenue of 0.494 billion yuan, a 26% year-on-year increase; software and service business revenue of 0.365 billion yuan, a 61.5% year-on-year increase; gross profit of 0.297 billion yuan, a 74% year-on-year increase; gross margin of 60.1%.

The vigorous development of China's Asia Vets auto industry this year has brought good opportunities for the group's business development. The group focuses on developing electric vehicle factories and their delivery service outlet customers. During this period, the group has cooperated with Chongqing Sokon Industry Group Stock, Chery, and other auto manufacturers or their subsidiaries to provide various digitalized marketing value-added services including digitalization light modifications, digital rights, and more for the 4S stores or delivery service outlets under these car companies. The proportion of unaudited revenue from SaaS value-added services for electric vehicle factories and their delivery service outlet customers has exceeded 65% during this period.

The group continues to expand digital scene coverage in the two major areas of 'smart vehicle use' and 'smart travel' around the Asia Vets auto industry, continuously focusing on realizing the data element monetization and commercialization of artificial intelligence in the automotive intelligent network industry to drive year-on-year revenue and gross margin growth. During this period, the proportion of unaudited revenue from high-margin software and services has exceeded 73% for the group. Especially in the SaaS value-added services division, the group covers two major categories of digitalization light modifications and digital rights. During this period, the unaudited service revenue brought in by these two major categories amounted to 0.116 billion yuan and 145 million yuan, accounting for 43% and 53% of SaaS value-added service unaudited revenue respectively.

In the 'smart vehicle use' field, the group will continue to expand our digital scene coverage throughout the car owner's life cycle, gradually embark on software and service layout in areas such as UBI insurance agency operation, second-hand car sales platform, digital financial services, battery testing, and preparation services.

In the 'smart travel' field, with the iteration and popularization of L2+ autonomous driving functions, the group plans to gradually develop the 'Dija automatic driving digital space' based on blockchain and large-scale model technology, to realize smart driving functions for car owners in terms of security assurance, data endorsement for car factory accident warranties, and data traceability for insurance companies for accident claims, ultimately productizing automatic driving protection services and bringing them to the market.

In addition, the group will continue to increase its efforts in developing new energy vehicle factories and delivery service store customers, accelerating the progress of the signed factory's store expansion, in order to continuously expand our existing business customer base.