domestic "first aiot stock" is coming, terminus hits hong kong stock ipo
2024-09-29
한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina
on september 26, aiot (artificial intelligence internet of things) unicorn terminus officially submitted a statement to the hong kong stock exchange, with citic securities (hong kong) co., ltd. and haitong international capital co., ltd. serving as joint sponsors. if the listing is successful, terminus will become the first domestic aiot stock.
it has been sought after by capital since its establishment and has received approximately 5 billion yuan of investment.
official website information shows that terminus was founded in 2015 and is a company in the aiot industry. it focuses on the integration and innovation of ai (artificial intelligence) and iot (internet of things) technologies. with the help of the aiot operating system tacos (technical artificial intelligence city operating system) ), adhering to the design concept of "layered decoupling, combination of software and hardware, cloud-edge collaboration, and intelligent evolution", provides full-stack aiot products to enterprises, public managers and other public space participants, accelerating the transformation of industrial digital intelligence upgrade.
this financing will be mainly used to enhance the company's r&d capabilities, especially investing in the r&d of tacos, green computers and large-scale models in the field to assist commercialization and market expansion, including the development of new scenario applications and improving commercialization capabilities. , expand the domestic sales team and increase market penetration, while expanding overseas layout and strengthening the ecosystem.
according to the prospectus, terminus has been sought after by capital since its establishment. so far, it has completed 9 rounds of financing totaling approximately 5 billion yuan. vc/pe (venture capital and private equity investment), strategic investment, financial investment companies or individuals have all invested. , including idg, everbright, citic, sensetime, jd.com, iflytek and other international state-owned capitals, the company’s latest valuation exceeds 21 billion yuan.
this financing is also one of the largest ipos in the hong kong capital market in the past two years.
wind data shows that the top three companies in hong kong ipo financing in 2023 are zhenjiu lidu, wuxi united, and ji express-w, with financing scales of 5.309 billion yuan, 4.071 billion yuan, and 3.919 billion yuan respectively. in the first half of this year, chabaidao had the largest fund-raising amount for a single hong kong ipo company, raising hk$2.586 billion.
revenue is growing steadily, with orders on hand of approximately 2 billion yuan, and is expected to accelerate profitability
according to the prospectus, terminus focuses on four major directions: ai industry digital intelligence, ai city intelligence, ai smart life, and ai smart energy. in addition to having the basic capabilities of large models such as training, reasoning, and optimization, it has chosen the "model + system" technology path to build large models in several fields and collaborate with smart devices deployed in scenarios (intelligent computing iot layer) to empower industries and cities. , human settlements, energy and other application scenarios.
in 2023, terminus achieved revenue of 1.006 billion yuan, a year-on-year increase of 36% compared to 738 million yuan in 2022; it recorded a loss of 803 million yuan, a significant narrowing of 66%.
among the four major business segments, ai industry digitalization and ai city intelligence are terminus’s two main revenue sources. in 2023, the digital intelligence business revenue of the ai industry will be 624 million yuan, a year-on-year increase of 32%, accounting for 62% of the total revenue; the ai city intelligence business revenue will be 224 million yuan, a year-on-year increase of 47%, accounting for 22.3% of the total revenue; in addition , the revenue of ai smart life has shrunk, while the revenue of ai smart energy sector has increased by 151.3% year-on-year.
it is worth noting that terminus's new contracted orders are also increasing year by year. the number of new contracted customers in 2021, 2022, 2023 and the first half of 2024 are 161, 175, 193 and 89 respectively. as of the first half of this year, terminus has orders on hand of approximately 2 billion yuan. this also means that terminus is expected to accelerate its profitability in the future.
it can be seen that in recent years, with the breakthrough and development of the ai industry, industrial digitalization and intelligence have received more and more attention from enterprises, regions and countries.
in may this year, liu liehong, a member of the party leadership group of the national development and reform commission and director of the national data administration, said that the national data administration will continue to accelerate the construction of digital china, including the upgrading and deployment of digital infrastructure, accelerating the industrial internet, computing power, mobile internet of things and other digital infrastructure construction.
in september, the ministry of industry and information technology issued the "notice on promoting the development of the "internet of everything" in the mobile internet of things, emphasizing the need to improve the supply level, innovation empowerment capabilities and overall industry value of the mobile internet of things industry, and accelerate the development of the mobile internet of things from the "internet of everything" develop towards “intelligence of everything”.
as of june 30 this year, terminus' products have been deployed by more than 800 customers in 150 cities around the world, with operations in china, the united arab emirates, singapore and australia. terminus has successively created cases for the 2020 dubai world expo, shanghai xuhui smart community, chongqing darong city smart building energy management, langfang grand theater smart energy management system, and ai city, ai park and multiple aiot smart management platforms. among them, ai park has also been included as a typical green and low-carbon case by the ministry of ecology and environment.
behind the products and benchmark cases is terminus’ strong r&d team. as of march 31 this year, terminus's r&d personnel accounted for 52.2% of its total employees. at the same time, the management team has an average of 15 years of relevant industry experience, coming from companies or institutions such as microsoft, alibaba, tencent, baidu, jp morgan chase, etc. the company’s cto (chief technology officer) hua xiansheng, chief scientists shao ling and yang yang are all electrical and a fellow of the institute of electrical engineers (ieee), and has been selected into stanford university's "top 2% of the world's top scientists" for four consecutive years.
breaking through the last mile of ai applications
the integration of ai and iot technology will help solve the challenges faced by large-scale ai applications and open up the last mile of ai applications.
according to the latest research report from huafu securities, traditional iot devices focus on collecting data and transferring analysis and interactive functions to terminals such as mobile phones. their analysis capabilities lack pertinence. aiot can elevate the simple connection of devices to intelligent interaction, ultimately realizing interconnection between different smart terminal devices, different system platforms, and different application scenarios. at the same time, aiot devices have the ability to provide comprehensive solutions. the analysis capabilities are transferred from the terminal to the cloud, and can provide differentiated and targeted results. it is expected to solve the problems faced by iot such as limited analysis and communication capabilities caused by passive interactions.
on the other hand, aiot is expected to open up the commercial closed loop of ai applications. in practical applications of ai, front-end equipment is required to collect a large amount of data information and send it to the deep neural network for training. then, through feature extraction and classification, universal feature parameters and detection models are obtained. in this process, due to the lack of connection with front-end devices, traditional ai is often limited to the "learning-decision" stage. the diverse data types brought by diverse iot devices can enrich ai perception capabilities. for example, "tactile" data, iot devices including pressure sensors, acceleration sensors, infrared sensors, etc., can provide pressure, position, speed, temperature and other sensor data to enhance ai's ability to perceive the environment, provide a foundation for spatial digitization, and facilitate the implementation of the "perception-learning-decision-execution" business closed loop of ai applications.
according to the cic consulting report, driven by strategic layout and large-scale investment in digital infrastructure, china has become one of the fastest-growing countries in the global aiot industry. the revenue of china's public aiot industry is expected to grow from 408 billion yuan in 2023 to 744 billion yuan in 2028, with a compound annual growth rate of 12.8%, far exceeding the growth rate of the global market.
calculated in terms of revenue in 2023, terminus is one of the top five operating system-driven platform-based public domain aiot product providers in china.
market research firm idc predicts that nearly 20% of iot systems will support ai in 2024.
the paper qin sheng
(this article is from the paper. for more original information, please download the “the paper” app)
