Over the past 20 years, Jinyi Technology has made remarkable achievements in the field of intelligent transportation.
From starting a business in 2004 to becoming the first generation of practitioners in the intelligent transportation industry, to being listed on the Shenzhen Stock Exchange in 2017; From the outbreak of policy dividend industry in 2019 to the decline of performance after the dividend slowdown, the company consolidated its internal strength to turn losses into profits in dormancy; Looking back at the two decades of hard work, Luo Ruifa, chairman of Jinyi Technology, could not help sighing: "The grand pass is like iron, and now we are making progress from scratch.".
Take the lead by setting standards, and take the capital market as the support
Reviewing the important nodes of Jinyi Technology in its 20 years of development, Luo Ruifa said that there were two key points: first, the company participated in the formulation of national ETC standards in 2006. This enabled the company to lead the industry in standard formulation and occupy the commanding height of the industry. Since then, Jinyi Technology has taken the lead in technology. Later, it has also taken the lead step by step in market promotion, which has been maintained for many years. For example, the OBU solar dual-mode power supply technology invented by Jinyi Technology in 2008 has completely changed the OBU power supply scheme, and is still the standard function of related products. Second, the company was listed on the Shenzhen Stock Exchange in 2017, which means that the capital market and investors have made phased affirmation of the company, which is a very important new starting point in the development of the company.
Since its listing, Jinyi Technology has gone through another seven years. Luo Ruifa said with emotion that life sometimes fluctuates like the stock market. Only by keeping a calm mind can we achieve stability and reach a far future. For the company, listing is just the result of the company's phased development. After listing, how to use the capital market platform to promote the company to go farther and more stable, and how to forward-looking insight into the industry's development trend in the increasingly fierce market competition and early layout, this is what the company needs to continue to focus on.
To be an enterprise, we should not only make profits, but also promote the development of the whole industry
In 2019, the state abolished the provincial toll station of expressway, bringing a wave of policy dividends to the ETC industry. As a leading enterprise in related industries, Jinyi Technology has benefited from industrial policies and the company's own technology and product advantages, and its performance has increased significantly. In the same year, it realized dozens of times of growth in net profit, bringing a large profit accumulation to the company. During the ten years from 2014 to 2023, Jinyi Technology has achieved good performance in other years, except for the performance loss in 2021 due to various comprehensive factors.
When asked whether the company has considered diversifying into other industries after accumulating a certain amount of profits, Luo Ruifa firmly said that he would stick to his original intention and continue to deepen the field of intelligent transportation. Behind this firm answer is a generation of entrepreneurs' persistent pursuit of transportation, which is also a manifestation of excellent entrepreneurship.
After many years, Luo Ruifa will still often recall the scene when he decided to choose traffic information engineering and control specialty. Luo Ruifa's hometown is in a small mountain village in Meizhou, Guangdong Province. From the village to the town, he has to walk a long and rugged mountain road. When he was 18 years old in the college entrance examination, when he saw the admission brochure of South China University of Technology, Luo Ruifa, who had never seen the expressway, was deeply attracted by the pictures of the expressway on the posters, so he decided to apply for the major of traffic information engineering and control of South China University of Technology. Since then, he has formed an indissoluble bond with "traffic". When doing the graduation project in the university, the thesis topic arranged by the tutor is to study ETC, so ETC has become the starting point for Luo Ruifa to get involved in the transportation industry.
"Making transportation smarter and life simpler" is the original intention of the founding team of Luo Ruifa and Jinyi Technology, as well as the corporate mission of the company for 20 years.
"Although the industry policy in 2019 has made ETC popular nationwide and Jinyi Technology has achieved certain returns, there are still many directions worth further exploration and research for the digital, networked and intelligent development of the smart transportation industry. Continuous exploration and deep cultivation are of great significance for the development of the smart transportation industry. Enterprises want to make profits, but after making profits, it is more important to do something that is conducive to promoting the development of the entire industry. Only innovation can bring contribution to the industry. Therefore, leading development with innovation is an eternal theme ", Luo Ruifa said firmly.
Starting from ETC, heading for the poetry and distance of V2X
ETC is the basic business of Jinyi Technology which has been developing continuously since its establishment, but Jinyi Technology's business layout has never stopped at ETC. If ETC is the starting point of intelligent transportation, V2X is the poem and distance of intelligent transportation. Jinyi Technology has been exploring in the two directions of vehicle road collaboration and ETC+scenarios.
As the first group of practitioners in the smart transportation industry, Luo Ruifa has long been forward-looking in deploying V2X technology with keen industry insight. Since 2013, Luo Ruifa has led the team to start V2X technology research and development. After the company went public in 2017, Jinyi Technology has continued to increase its investment in V2X research and development, and has continued to conduct in-depth exploration of vehicle road collaborative business. From making products and conquering vehicle road collaboration technology, from hardware to software protocol, to interface and complete machine, Jinyi Technology has always been at the forefront of the vehicle road collaboration field.
In 2018, Jinyi Technology was awarded the license by the Research and Development Center of Key Technologies and Equipment Industry for Intelligent Vehicle Road Collaboration issued by the Ministry of Transport. As the leading unit of the research and development center of the industry, Jinyi Technology, together with the Highway Science Research Institute of the Ministry of Transport, Guangdong Communications Group Co., Ltd., Tongji University, Tsinghua University Shenzhen Graduate School, and Beijing Automotive Research Institute Co., Ltd, Jointly promote technical innovation and demonstration application in the field of vehicle road collaboration. Up to now, the company has participated in dozens of smart networking demonstration area construction projects.
In terms of exploration of ETC application scenarios, from high-speed toll collection to parking, charging, station management in urban scenarios, to perceptual applications in urban digital traffic, the use value of ETC is being expanded to more application scenarios. According to the relevant data of the Road Network Monitoring and Emergency Response Center of the Ministry of Transport in September 2023, the number of ETC users in China has reached 215 million, accounting for 67% of the national car ownership. At present, the country is constantly introducing a series of policies to advocate the integrated development of intelligent network, vehicle, road and cloud. As a carrier integrating perception, communication and charging functions, ETC is playing its role in more and more scenarios. In the future, ETC will be further integrated and developed in urban vehicle road collaboration scenarios to open up multi scenario applications, which will bring greater value to ETC applications.
At present, with the development of AI technology, ETC is more and more used in traffic perception scenarios. Holographic perception intersections in the urban digital traffic business scene can integrate multi-source perception equipment such as ETC, camera, radar, RFID radio frequency, multi-source fusion, and achieve collaborative perception and holographic perception through AI technology base.
The tide of the AI era swept through, and the AI big model ignited a new exploration in the world. The intelligent transportation industry is one of the important fields of AI technology application. Vehicle road collaboration, automatic driving and other aspects cannot be separated from the underlying support of AI technology. AI technology will have a very important and far-reaching impact on the increasingly competitive intelligent transportation industry. Luo Ruifa said: "In the era of artificial intelligence, we should focus on AI+in the field of transportation to develop the company's development strategy, build intelligent transportation tools and facilities on this basis, and develop new quality productivity of intelligent transportation."
Today, 20 year old Jinyi Technology has grown from a traditional ETC business leader to a high-tech enterprise with deep layout in new quality productivity industries such as intelligent networking, automatic driving, intelligent high-speed, urban digital transportation, etc. From the confusion in the initial stage of entrepreneurship to the performance explosion in policy dividends, from the performance decline after the first wave of market dividends receded to the steady development after dormancy, Jinyi Technology has transformed from a single ETC equipment provider to a provider of intelligent transportation digital and intelligent solutions and products.
Over the past 20 years, Jinyi Technology has made remarkable achievements in the field of intelligent transportation. Luo Ruifa said that the company's achievements benefited from catching up with such a good era, benefited from the guidance of relevant national policies, and also depended on the trust and support of all partners for many years, not to mention the persistence and dedication of all colleagues of the company. Looking forward to the future, Jinyi Technology will continue to adhere to the corporate mission of "making transportation smarter and life simpler", continue to deepen the field of intelligent transportation, focus on the construction of digitalization, networking and intelligence in the field of intelligent transportation, lead the development with innovation, promote the intelligent transportation industry to accelerate the creation of "smart roads" and "smart cars", and promote the vigorous development of the intelligent transportation industry.
