The Zhitong Finance App learned that on the evening of March 8, 2024, Ling Xiong Technology (02436), the “first stock in the DaaS (Device as a Service) industry”, issued an announcement. Revenue is expected to increase to about 1,793 billion yuan in 2023, compared to about 1,664 billion yuan for the same period in 2022. The expected increase in revenue is mainly due to the increase in revenue from all of the company's service lines (i.e. equipment recycling business, equipment subscription business and information technology subscription service) in 2023.

According to the announcement, the number of customers in the equipment recycling business, equipment subscription business and information technology subscription service is expected to increase to no less than 1,850, 25,000 and 23,000 respectively in 2023, while 1,060, 17034 and 15,121 were recorded respectively in the same period in 2022. Furthermore, the number of new customers in the equipment subscription business is expected to increase to no less than 14,000 in 2023, compared to 7,908 in the same period in 2022.

The announcement also stated that the number of device subscriptions in the device subscription business is expected to increase to no less than 5.7 million units in 2023, while the same period in 2022 recorded about 4.957 million units. The company maintains confidence in the positive trend of the company's business development.

A senior financial source said that as a national public service demonstration platform for small and medium-sized enterprises, a national-level specialized and innovative “little giant” enterprise, and a national high-tech enterprise, Ling Xiong Technology has been focusing on serving customers for 20 years, continuously innovating products and services according to changes in market demand. While helping enterprise customers reduce costs and increase efficiency and achieve high-quality development, Ling Xiong Technology continues to create new value for customers, and is deeply trusted and appreciated by customers. Benefiting from this, Ling Xiong Technology's number of customers is growing rapidly year by year, and revenue continues to reach record highs. In terms of revenue, Ling Xiong Technology has maintained the top position in the industry since 2021.

Some organizations believe that as Ling Xiong Technology's business scale expands and operating efficiency continues to improve, it will enter a stage of continuous and large-scale profit in the next few years. According to Haitong International's research report, Ling Xiong Technology expects to achieve total revenue of RMB 2,417/RMB 3.331 billion from 2024-2025, and the adjusted EBITDA (profit before tax, interest, depreciation and amortization) is RMB 562/861 million. Furthermore, the bank said in its first coverage report that if the penetration rate of IT equipment subscriptions in China increases to 50% and the market share of Ling Xiong Technology increases by 1 times, the company's potential growth space will be 20 times greater.