On the evening of January 23, Beijing Qianfang Technology Co., Ltd(stock code: 002373.SZ) announced an expected loss for its fiscal year 2024, forecasting a net profit loss of between 950 million to 1.15 billion yuan after stripping out non-recurring gains and lossesThis announcement attributed the performance decline to various factors, including delays in certain domestic market projects, increasing uncertainties in international markets, and the company's strategic decision to abandon high-risk collections projectsAs a result, the company also indicated that it plans to make provisions for goodwill impairment associated with two of its subsidiaries, exercising caution amidst these challenges.

Despite these financial setbacks, the company’s smart IoT segment has shown resilience, tackling the adverse effects of global geopolitical conflicts while steadfastly advancing AI technology innovations

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Focusing particularly on the fields of education and sports, Qianfang has already implemented its solutions in nearly 500 schools across the nation, facilitating a significant upgrade in smart physical education.

In the realm of smart traffic systems, Qianfang Technology has launched innovative projects embodying AI traffic intelligence, integrating new energy charging solutions, and serving digital transformations in road infrastructureThey have actively engaged in partnerships, notably forming joint ventures with the Beijing Academy of Artificial Intelligence and the Xiong'an Digital City Company, among others, to advance high-AI-content innovative services in the transportation sector.

Within the new energy charging landscape, Qianfang Technology has introduced urban-level integrated charging solutions that encompass the entire service chain from investment and financing to product development and operational management

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They signed a partnership agreement with China Power Construction Group's Shandong Electric Power Construction Company to collaborate on energy integration scenarios, leveraging their advanced “cloud-edge-end” technology frameworkAdditionally, they have developed a comprehensive management cloud platform along with an array of parking terminal products and a full range of charging stations.

Focusing on the intelligent connected vehicle sector, Qianfang has recently upgraded their Kun Chao 3.0 smart intersection solution, actively establishing a presence in key regions such as the Beijing-Tianjin-Hebei area and the Greater Bay AreaThey have also co-founded Xiong'an Qianfang Smart City Technology Co., Ltdwith Xiong'an Digital City to provide integrated smart traffic operations for the Xiong'an New Area, which showcases an innovative approach to traffic management.

In 2024, building upon more than two decades of experience in air transportation and general aviation, Qianfang plans to launch its low-altitude business, introducing new mid-to-large drone products and counter-drone systems

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Collaborating with partners such as SF Technology, they are creating scenarios for logistics delivery, low-altitude inspection, and air safetyMoreover, their slope health monitoring solutions have been recognized nationally, being selected for the Ministry of Transport's initiative to promote innovative proposals.

In light of the substantial uncertainties faced in overseas markets, the company has expressed its intention to leverage the market opportunities presented by AI and the push for green low-carbon initiativesThey plan to intensify their efforts in the new energy and AI education fields, complemented by innovative brand marketing strategies to achieve stable growth