Jiangsu Tongxingbao Intelligent Transportation Technology Co., Ltd.
通行宝
301339
Shenzhen Stock Exchange
Company Profile
1. Technological Strengths Adhering to an innovation-driven strategy, the Company has built systematic technological advantages in the digital transportation sector, specifically reflected in the following aspects: In terms of innovation achievements, it has established a comprehensive independent intellectual property system. In 2025, 1 new group standard was added; to date, it has led or participated in formulating 7 work procedures of the Ministry of Transport and 10 group/local standards. By the end of 2025, the Company had accumulated 441 intellectual property rights, including patents and software copyrights. In the R&D ecosystem, the Company actively builds a digital transportation ecological alliance. It cooperates with universities such as Nanjing University on key technological breakthroughs and achievement transformation; collaborates with enterprises and universities including the Communication and Information Center of Jiangsu Provincial Department of Transportation, Alibaba Cloud, China Electronics Technology Group, China Hualu Group, Southeast University, and Nanjing University of Posts and Telecommunications on digital transportation research (e.g., traffic data product development, data asset operation, video large models); and has established strategic partnerships with Hikvision, ZTE, etc., forming a deeply integrated collaborative innovation network. In 2025, the Company was selected as a "Key Cultivated Leading Innovative Enterprise in Digital Transportation (2025)" by Jiangsu Provincial Department of Transportation; its "ETC Electronic Fence Smart Parking Platform" won the "5th Transportation Enterprise Scientific and Technological Innovation Achievement Contribution Award". The "Research and Demonstration Application of Complete Set of Technologies for Intelligent Capacity Expansion of Jiangsu Expressways", participated by its subsidiary Gandong Technology, won the Grand Prize of the 2025 China Highway Society Science and Technology Award (Scientific and Technological Progress Award); the "Research on Strategic Planning and Policy System for Digital Transformation of Transportation Infrastructure" won the First Prize of the same award. 2. Market Competitive Advantages In the smart transportation sector, the Company actively expands the national market by virtue of its leading technological, product, and operational advantages. In smart transportation electronic toll collection, by the end of 2025, it had over 29 million ETC users nationwide, covering all 31 provincial-level regions in China. In smart transportation operation and management systems, relying on independent technological advantages, mature products and business models, its solutions have been promoted to more than 20 provinces, establishing strong industry competitiveness. Its business has expanded from expressways to local highways, waterway transportation, smart cities, state-owned assets supervision, traffic management, etc. Driven by national policies (e.g., digital transformation of highway/waterway infrastructure, urban "vehicle-road-cloud integration" pilots), the Company secured key projects in 2025, including the digital transformation public service of Hunan expressway infrastructure, the intelligent upgrading project of Tongxi Expressway (Haimen-Tongzhou section) in Jiangsu, and the road-side segment partnership for Wuxi's "vehicle-road-cloud integration" project. It will continue to deepen its presence in smart transportation, innovate products, and support industry development. In the smart transportation ecological business, relying on tens of millions of ETC users and massive traffic data, it provides comprehensive services (frictionless payment, scenario-based value-added services, customer acquisition, supply chain collaboration, risk control) for users, financial institutions and partners, building a digital transportation ecosystem. In smart parking, as the main implementer of Jiangsu's ETC Smart Parking "Provincial Demonstration Zone", it has promoted 6,851 smart parking lots (ranking first in China). Its "electronic fence" smart parking solution has been launched in 52 districts/counties of 13 cities in Jiangsu, and 24 cities (districts/counties) in other provinces (Zhejiang, Guizhou, Guangdong, Anhui, etc.). Integrated urban parking-charging smart stations are also in operation. It has developed innovative supply chain collaboration products, providing ETC, invoicing, data element services for logistics enterprises and truck drivers. 3. Industrial Chain Synergy Advantages Focusing on emerging tracks such as infrastructure digital transformation, urban "vehicle-road-cloud integration", data element development, and "AI+", the Company builds a "five-chain integrated" digital transportation industrial system by enhancing four core competencies (product competitiveness, technological strength, talent capacity, brand influence), aiming to strengthen traditional businesses, optimize emerging industries, and expand scale.1)Strengthen the road network operation service chain: Relying on leading cloud control platform technology, deepen full-scenario intelligent road network operation, develop multiple intelligent agents, and solve efficiency and safety pain points in segmented fields.2)Construct the digital transportation industrial chain: Focus on digital new infrastructure to accelerate the digital transformation of all transportation facility elements.3)Build a smart product supply chain: Extend upstream R&D capabilities, create comprehensive "vehicle-road-cloud integration" solutions, and mass-produce core hardware (new-generation toll robots, intelligent lane equipment, C-V2X sensors).4)Expand the smart transportation service ecological chain: Integrate data elements, roadside economy, and vehicle-end traffic; develop value-added services (frictionless payment, supply chain collaboration, smart parking, vehicle maintenance ecology); promote integrated development of "data economy-platform economy-traffic economy".5)Enhance the enterprise operation value chain: Strengthen capital operation and resource allocation capabilities to seize market opportunities, empower technological iteration and model innovation, and drive leapfrog industry development. 4. Management Advantages Through years of reform and development, the Company has established a complete and effective operation and management system, with improved governance structure, more efficient decision-making mechanisms, flexible market-oriented talent selection/employment systems, and sound market-oriented incentive/restraint mechanisms, effectively stimulating technological innovation momentum. It has been rated as a "Benchmark Enterprise in the 'Science Reform Demonstration Action'" among local state-owned enterprises nationwide for two consecutive years; its reform practices have been repeatedly selected as outstanding cases by SASAC of the State Council and typical cases by Jiangsu SASAC. In 2025, in accordance with new regulatory requirements and the revised *Company Law*, the Company fully revised its *Articles of Association*, integrating the supervisory board's functions into the Board of Directors' Audit Committee to standardize corporate governance. To meet development strategy needs, it optimized its organizational structure, subdivided business units, strengthened middle-level backbone selection and employee post dual-selection, optimized human resource allocation, enhanced strategic decision-making, service support and business development capabilities, and promoted business transformation and management upgrading.
Full description
Jiangsu Tongxingbao Intelligent Transportation Technology Co., Ltd. is a leading national provider of intelligent transportation platform-based solutions for expressways, trunk highways, urban traffic and other transportation scenarios. Its core operations consist of three segments:First, ETC-based intelligent transportation electronic toll collection business, including ETC issuance and sales, electronic toll collection services, with a focus on the construction and operation of toll collection and management systems in expressways and other transportation sectors.Second, R&D of intelligent transportation operation and management systems supported by cloud computing, artificial intelligence, the Internet of Things, big data, large models and other technologies, mainly covering software development of intelligent transportation operation and management systems, integrated solutions and system technical services.Third, intelligent transportation ecosystem business, which centers on building an ecosystem with "ETC+" as the core, integrating data elements, supply chain services, smart parking, refueling and charging, vehicle maintenance and usage, roadside economy and other scenarios to develop an ETC ecosystem. There were no material changes to the Company’s core business scope in 2025. 1. Intelligent Transportation Electronic Toll Collection Business The Company’s intelligent transportation electronic toll collection business is ETC-centric, covering ETC issuance and sales, electronic toll collection services, and focuses on the construction and operation of toll collection and management systems for expressways and other transportation fields. 1.1 ETC Issuance Business As the sole authorized ETC issuance and service institution in Jiangsu Province, the Company has established a comprehensive online issuance network and achieved a national layout of issuance operations. It has created a new Internet-based operation business model and promoted equipment renewal, upgrading and innovative product development. In 2025, the Company issued a total of 2.5693 million ETC accounts, representing a year-on-year increase of 14.6%, including 2.2068 million passenger vehicle users and approximately 362,500 commercial vehicle users. The cumulative number of ETC users issued exceeded 29 million, covering all 31 provinces, autonomous regions and municipalities directly under the Central Government across China. In the pre-installation market, the Company has established business partnerships with 14 automakers including BYD and SAIC Volkswagen. In 2025, the volume of pre-installed ETC units reached 742,000 sets, accounting for 21.33% of the national total pre-installed ETC volume. Leveraging the popularity of the Jiangsu Super League in 2025, the Company innovatively launched the "Jiangsu Super League" IP-themed ETC devices and peripheral products, deeply integrating ETC functions with urban culture and user emotional value to achieve differentiated product competitiveness. 1.2 Electronic Toll Collection Services The Company mainly provides electronic toll collection technical services for the Jiangsu expressway network. In 2025, the cumulative exit traffic volume of Jiangsu’s interconnected expressways reached 834 million vehicle trips, with an average daily volume of 2.29 million vehicle trips. Meanwhile, the Company continued to promote the application of ETC in other transportation sectors. In 2025, the Wufengshan Ferry Platform was newly launched, bringing the total number of operational ferry platforms to nine. 2. Intelligent Transportation Operation and Management System Business Responding to the needs of digital transformation of transportation infrastructure, urban "vehicle-road-cloud integration", highway operation and management, the Company develops a series of digital products and integrated solutions relying on cloud computing, big data, artificial intelligence, Internet of Things and other technologies, effectively supporting decision-making, management and services for comprehensive transportation operations. Focusing on three business scenarios — intelligent transportation command and dispatch, operation services, and integrated management — the Company has formed three service themes: "Smooth Expressways, High-Quality Expressways, Intelligent Expressways", six product systems covering "dispatch, toll collection, maintenance, service, integrated management, and digital intelligence", as well as more than a dozen digitally innovative transportation products and integrated solutions at a leading domestic level. Its main clients include transportation management government agencies, road and bridge enterprises and institutions, traffic police and other law enforcement authorities. The business has covered more than 20 provinces and cities nationwide. The Company’s intelligent transportation products mainly include: free-flow cloud toll collection solutions, AI video analysis cloud control platforms, road network regulation agents, travel service agents, toll station passage agents, dispatch clouds and other cloud control platform products, digital twin services, Jiangsu Expressway high-precision maps, SD-WAN intelligent networking technical services, and comprehensive management platforms for transportation administration. 3. Intelligent Transportation Ecosystem Business Based on its tens of millions of ETC users and massive transportation data resources, the Company expands diverse intelligent transportation ecosystem scenarios, focusing on data elements, supply chain services, smart parking, refueling and charging, vehicle maintenance and usage, roadside economy, urban culture and tourism and other ecological applications. It provides users, financial institutions and partners with comprehensive services such as touchless payment, scenario-based value-added services, customer acquisition, supply chain collaboration and risk control, thereby building a digital transportation ecosystem.