Wanji Technology achieved revenue of 683 million yuan in the first three quarters, a year-on-year decrease of 40.08%

On October 19, Wanjie Technology released its third-quarter report for 2021. The company achieved revenue of 265 million yuan in the quarter, down 29.99% year-on-year, and net profit attributable to shareholders of the listed company was 20.54 million yuan, down 84.54% year-on-year; the total revenue for the first three quarters was 683 million yuan, down 40.08% year-on-year, and net profit attributable to shareholders of the listed company was 67.1377 million yuan, down 85.4% year-on-year.

Public information shows that Wanjie Technology is a leading domestic intelligent transportation product and service provider, specializing in intelligent transportation system (ITS) technology research and development, product manufacturing, and technical services. It provides road transportation and urban transportation customers with dedicated short-range communications (ETC), laser products, intelligent networking, and dynamic weighing series products. Research and development and production, as well as related solution design, construction and installation, software development and maintenance and other related services. At the same time, it has accumulated a large number of independent innovative technologies in many fields such as vehicle networking, big data, cloud platforms, edge computing and autonomous driving, and has developed a series of products such as laser radars at both ends of the road, V2X vehicle-road collaborative equipment, intelligent networked roadside smart base stations, and smart transportation cloud platforms, providing comprehensive solutions, systems, products and services for smart highways and smart cities.

In terms of LiDAR, Wanji Technology's multi-line LiDAR for multi-dimensional perception includes roadside LiDAR for intelligent networking and vehicle-mounted LiDAR for assisted driving/autonomous driving. In terms of roadside LiDAR, Wanji Technology's 32-line roadside LiDAR introduces a field of view design based on the characteristics of roadside deployment to ensure that the effective point cloud data formed by LiDAR detection is evenly distributed, which can improve the road's ability to accurately perceive traffic information and enrich vehicle-road collaborative application scenarios. Wanji Technology's vehicle-mounted LiDAR is mainly aimed at high-level assisted driving and autonomous driving, high-precision map collection, real-time scanning of road conditions, etc., to provide support for unmanned driving of micro-circulation vehicles and special vehicles.

In terms of intelligent networking, Wanjie Technology's V2X series products use the new generation of C-V2X communication technology and support 5G mobile network communication. They are the realization of effective data exchange between various elements in the transportation system, including vehicle-to-vehicle (V2V), vehicle-to-road (V2I), vehicle-to-person (V2P), vehicle-to-cloud (V2N) and other technical modes, that is, vehicle-to-vehicle information exchange and vehicle-to-external information exchange. The products have the characteristics of long coverage, low communication latency, large data communication bandwidth, stability and reliability, and can be adapted to smart transportation solutions in high-speed mobile scenarios. Through interaction with the platform and infrastructure, it realizes vehicle-road-cloud collaborative interaction and empowers assisted driving and autonomous driving. V2X products can build and expand a variety of comprehensive vehicle-road collaborative application scenarios, realize rich applications in active safety and road traffic efficiency improvement, improve driving safety, enhance driving experience, and meet the market application needs of front-end, rear-end, highway, smart city and other aspects.

In addition, based on the needs of strategic planning and business development, Wanji Technology used its own funds to establish a wholly-owned subsidiary, Suzhou Wanji Internet of Vehicles Technology Co., Ltd., in the third quarter, with a registered capital of RMB 10 million. Suzhou Wanji completed the industrial and commercial registration procedures on August 6, 2021, and obtained the Business License issued by the Administrative Approval Bureau of Xiangcheng District, Suzhou.