Asia Vets Finance APP reported that Carlink Tech Holdings (02531) announced that in the third quarter of 2024, the group achieved revenue of RMB 0.185 billion, 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 achieved 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 flourishing development of China's ai-connected electric vehicles industry this year has brought good opportunities for the group's business development. The group focuses on developing electric vehicle plants and delivery service store customers. During this period, the group has cooperated with Chongqing Sokon Industry Group Stock, Chery, and many other auto manufacturers or their subsidiaries to provide a variety of digital marketing value-added services such as digital light customization and digital rights to 4S stores or delivery service stores under the above-mentioned car companies. During this period, the proportion of unaudited revenue from SaaS value-added services from electric vehicle plants and their delivery service store customers has exceeded 65%.

The group continues to expand the digitization scene coverage in the two major areas of "smart car usage" and "smart travel" around the ai-connected electric vehicles, continuously focusing on the monetization of data elements in the auto ai industry and the commercialization of ai, driving year-on-year growth in revenue and gross margin. During this period, the proportion of unaudited high-margin software and service revenue has exceeded 73%. Especially in the SaaS value-added service division, the group has covered two major categories of digital light customization and digital rights. During this period, the unaudited service revenue brought by these two major categories was 0.116 billion yuan and 145 million yuan respectively, accounting for 43% and 53% of the unaudited revenue from SaaS value-added services.

In the "smart car usage" field, the group will continue to expand our digitization scene coverage throughout the car owner's lifecycle, gradually developing software and service layouts in areas such as UBI insurance agent operation, second-hand car selling platforms, 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 certificate space" based on blockchain and large-scale model technology, to provide security for smart driving functions for car owners, data book backup for smart driving incidents for car manufacturers, and data traceability for accident claims for insurance companies. Eventually, it aims to productize automatic driving guarantee services and bring 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 contracted factory's store expansion to continuously expand our existing business customer base.