Under the background of the digital intelligence transformation of banks and new infrastructure, the company attaches importance to technology research and development, focuses on the core elements of AI, goes deep into the research and development of basic technologies, and develops financial technology and urban intelligence fields with data, algorithms, computing power and scenarios as the core.
Main points of investment:
Build an intelligent network of "finance + scene" and create a number of benchmarking cases: the stock of bank outlets and self-service equipment continues to decline, and the transformation of digital intelligence into the trend of the times. The four major banks have strengthened the layout of smart banking outlets to promote the landing of the "finance + scenario" business model. The company has a solid leading position in the market, ranking first in sales of network equipment for 13 years in a row, has a rich product line of intelligent equipment, and has continuously won the bid for intelligent terminal projects, helping CCB, Guangfa and Industrial and Commercial Bank of China to create a "5G + smart bank" benchmarking project to realize the transformation from "transaction intelligence" to "scene intelligence".
Digital RMB pilot activities continue, the company launched software and hardware products and services: in the recent pilot of digital RMB, in addition to online and offline commerce and retail, digital RMB has also entered government affairs, payroll, provident fund, social security, medical insurance and other fields, the scene is becoming more and more diversified. The company built a digital RMB core business system for Changsha Bank, jointly built a digital RMB smart phone with ICBC, and carried out digital RMB ATM exchange tests with a number of banks.
Establish a professional R & D organization system and dig deep into the field of urban intelligence: the company has a professional R & D team of more than 2000 people, and set up an aiCore system artificial intelligence big data platform to transform to artificial intelligence industry application enterprises around intelligent finance, intelligent transportation, intelligent security, intelligent convenience, intelligent computing and other business scenarios.
Steady growth in performance, continued improvement in net assets, and breakthroughs in overseas business: according to the company's semi-annual report, the company's revenue, profit and net assets increased steadily, and its overseas business grew steadily under the pressure of the epidemic, and signed 106 million orders with the Bank of BBVA of Mexico.
Profit forecast and investment advice: it is estimated that the company's operating income for 21-23 years is 72.28mm RMB 8100,000,000 RMB, net profit is 839pm RMB 1.013pm RMB 1.06 billion, EPS is 0.34pm 0.41 pm RMB 0.49 respectively, corresponding to the closing price PE of September 9, 2021, the company is 21.98 times as much as 31.60RMB 26.19pm, maintaining the "recommended" rating.
Risk factors: the demand for intelligent financial equipment and intelligent network construction is lower than expected; the application of digital RMB is not as expected; the level of technology research and development is not as expected; overseas business is not as expected; the uncertain risk of the epidemic.