China Zhongji Investment is a comprehensive investment platform jointly invested and established by well-known private enterprises in Hebei Province, under the support of the CPC Hebei Provincial Committee and Provincial Government, and under the guidance of the Hebei Provincial Federation of Industry and Commerce. It is managed and operated by seasoned investors and industry experts.
Since its establishment in 2016, guided by its original intention of adhering to the right path, China Zhongji Investment has consistently sought long-term certainty from short-term uncertainty. Under the guidance of a technology-centric philosophy, it proactively focuses on the future and implements its strategies through flexible yet rigorous systems. For six years, the company has maintained continuous profitability and progressed hand-in-hand with its partners.
Since 2022, three projects of China Zhongji Investment have already passed the review, and several more are in the process of being submitted. Starting today, we will gradually introduce these high-quality projects to allow more people to understand what China Zhongji Investment is doing, with the hope of creating a better future together.
The China Securities Regulatory Commission's online service platform (trial operation) announced that Wisdom Interconnection Technology Co., Ltd. (hereinafter referred to as "Wisdom Interconnection" or "the Company") completed its IPO guidance registration on June 15, with Dongxing Securities as its guidance institution.
Today, let's learn more about Wisdom Interconnection.
Wisdom Interconnection is a high-tech AI enterprise focusing on the research and development and application of technologies in the field of computer vision and intelligent sensing. It is a pioneer and solution provider for Advanced Sensing Equipment (ASE), Vehicle State Awareness (VSA), Holographic Road System (HRS), and Intelligent Road Network (IRN) technologies. It owns well-known brands such as "AiPark," "AiTS," and "AiPilot.". In July 2022, Wisdom Interconnection was selected as a national new-generation artificial intelligence open innovation platform for intelligent transportation vehicle state perception, approved by the Ministry of Science and Technology.
High Investment, High Innovation, Breaking Through in Intelligent Transportation
As a technology-driven enterprise, Wisdom Interconnection always keeps a close eye on the forefront of global intelligent transportation technology. It consistently maintains saturated R&D investment, committed to possessing core technologies with original and independent intellectual property rights. The company understands the differentiated needs and pain points of intelligent city parking scenarios. By innovatively applying high-level video recognition technology to urban smart parking and static traffic order management, it has solved parking problems and built a world-leading smart parking and static traffic order management technology and operation system. Subsequently, based on its core technology, the company developed the AiTS product and researched full-stack product solutions such as holographic intersections, holographic roads, regional integrated traffic governance, vehicle-road collaborative operation and management, autonomous driving operation and management, and intelligent road networks. In May 2022, the company released its latest Intelligent Road Network (IRN) technology, aiming to build an intelligent support system for the current intelligent transportation field.
To date, Wisdom Interconnection has obtained more than 400 domestic and international core patents and patent applications for its independently owned intellectual property rights in artificial intelligence, big data, and intelligent hardware. In the future, the company will continue to delve into industry application scenarios, cultivate intelligent road networks, vehicle-road collaboration, automatic parking, and autonomous driving, and continue to increase investment in scientific research and original technologies.
A Multi-Billion Parking Market, A Core Sector of Intelligent Transportation
In recent years, China's vehicle ownership has steadily increased, exceeding 300 million in 2021, a year-on-year increase of 7.5%. According to statistics from the Ministry of Public Security, as of the end of March 2022, the national vehicle ownership reached 307 million. 79 cities have more than 1 million vehicles, an increase of 7 compared to the same period last year. Among them, 37 cities have more than 2 million vehicles, and 20 cities have more than 3 million. Many cities face the challenge of traffic congestion.
At the same time, the parking spaces provided by cities are relatively insufficient, resulting in a large gap and further exacerbating traffic congestion. According to the Ministry of Housing and Urban-Rural Development's plan, the number of parking spaces should ideally reach 1.1 to 1.3 times the number of vehicles. Therefore, approximately 337 to 390 million parking spaces are needed. As of the end of 2020, China had 119 million parking spaces, still a significant gap from the ideal ratio of 1.1 to 1.3 parking spaces per vehicle. Data from the National Development and Reform Commission shows that the number of parking spaces in first- and second-tier cities is currently 80% of the number of vehicles, while this ratio is less than 50% in other cities, compared to 130% in foreign countries.
Smart parking is a key core sector of intelligent transportation, effectively improving parking problems, significantly increasing parking turnover rates, and alleviating traffic congestion caused by insufficient parking spaces or inadequate parking guidance. In recent years, smart parking services have formed an effective market demonstration effect in first-tier cities, with the application scope and user scale continuously expanding. It is now gradually radiating nationwide and entering a period of rapid development.
Projects Launched in Multiple Cities, Forming Brand Advantages
As a leading enterprise in the static transportation field, Wisdom Interconnection has implemented city-level parking projects in 40 cities, including Beijing, Guangzhou, Zhengzhou, Shanghai, Tianjin, Fuzhou, Chengdu, and Shenzhen, becoming one of the companies with the most first- and second-tier city achievements in city-level parking management solutions in China.
During the 2022 Beijing Winter Olympics and Paralympics, Wisdom Interconnection provided a scientific and efficient intelligent transportation management solution for the smooth operation of the Zhangjiakou competition zone and was awarded the "2022 Winter Olympics and Paralympics Advanced Collective," further enhancing the company's industry recognition.
Now, Wisdom Interconnection, with its "AiTS" brand, has successfully transitioned from the static transportation field to the dynamic transportation field, attracting widespread attention from the intelligent transportation industry. Following the success of AiTS in winning the Beijing Tongzhou District Intelligent Transportation Management Platform project and the Sanya City Urban Super Brain project in 2021, in 2022, AiTS won the Hebei Expressway Intelligent Traffic Management Integrated Command and Dispatch Platform project and the Beijing Changping Regional Integrated Traffic Governance Construction project, among other representative projects in the intelligent traffic management market, putting AiTS business development into the fast lane.
In July 2020, the Hebei Zhongji Financial Industrial Upgrading Fund was established. China Zhongji Investment hopes to use this to support the development of Hebei's industries, and Wisdom Interconnection, headquartered in Zhangjiakou City, Hebei Province, was added to the list of companies under consideration. At the end of the year, China Zhongji Investment led the D+ round of financing for Wisdom Interconnection. The project team believes that smart cities and smart transportation are of great significance to the government and the people's livelihood, especially the improvement of efficiency and transformation of urban transportation models through cutting-edge technologies such as AI and big data. Wisdom Interconnection has entered the smart transportation market through creative smart parking solutions, solving the pain points of difficult parking fee collection and inefficient management for government managers, and providing convenient and smooth parking management solutions for C-end citizens, creating huge social benefits. At the same time, the company continues to improve its core technological capabilities and has opened up a business model from static transportation to dynamic transportation, with promising future development prospects. We look forward to the company making greater contributions to China's intelligent transportation!
