Pure domestic AI enterprises incubated in the Chinese Academy of Sciences have participated in the formulation of a number of national standards. Founded in 2015, its founder Zhou Xi has a senior technical background in AI and returned to China to set up a face recognition team at the Chinese Academy of Sciences. Since its establishment in 2015, the company has adhered to the pure domestic equity structure, has participated in the formulation of a number of national standards for artificial intelligence, and has undertaken the construction of a national artificial intelligence basic resources public service platform project. it has a unique influence in the industry.
From face recognition technology, from single point technology to integrated product matrix. The company covers the whole field of image recognition, speech recognition, natural language processing and machine learning, constructs a technical closed loop from perception to cognition to decision-making, and precipitates it into the CWOS system to provide technical solutions for applications in different industries. Unlike other AI platforms, the company emphasizes the importance of knowledge and experience, integrates knowledge into the bottom of technology, and promotes man-machine collaboration. On the basis of CWOS, the lightweight "light boat platform" is displayed, which is aimed at customers in the middle and waist to form a complete differentiated product matrix.
Empower customers in four scenarios to explore the industry Know-how in depth. The company carries out in-depth empowerment in many fields, such as smart finance, smart governance, smart travel, smart business, digital city, pan-AI and so on: 1) serve thousands of customers, covering multiple head customers in the industry, and set up joint laboratories with head customers to jointly explore and solve industry pain points; 2) form a complete organizational structure from R & D to delivery, with a clear internal division of labor to ensure the landing ability of the project 3) it has two major product systems: CWOS and light boat platform, and reaches the head and middle waist customers respectively through direct selling and ISV collaboration. The industrial chain is ecologically mature and has the ability to replicate projects on a large scale.
Investment suggestion: the increase in the penetration rate of the artificial intelligence industry will bring a lot of room for growth, and the company has technical strength in the deep-cultivated industry for many years, and is expected to fully benefit from the industry growth dividend. It is expected to achieve operating income of 1.225 billion in 2022. Referring to the industry average, it will be given 15 times PS in 2022, corresponding to a 6-month target price of 24.81 yuan, giving the company a "buy-A" rating for the first time.
Risk hints: the impact of the epidemic exceeds expectations, the risk of brain drain in core technology, and business development falls short of expectations.
