Increased investment in the impact of the superimposed epidemic led to the pressure on Q4 performance. The company is deeply engaged in the defense and power industries, and is actively expanding into finance and other important industries. As Xinchuang promotes the overlay of CentOS service, the company's core products, such as server operating systems, are expected to accelerate penetration and upgrade to "highly recommended" investment rating.
Event: KuaiBao, the company released its 2022 results. The company's 22-year income reached 400 million yuan, up 18.45% over the same period last year. The net profit returned to the mother was 128 million yuan, up 14.39% over the same period last year. The non-return net profit was 110 million yuan, an increase of 26.69% over the same period last year.
Increased investment in the impact of the superimposed epidemic led to the pressure on Q4 performance. Q4 realized revenue of 157 million yuan in a single quarter, down 4.67% from the same period last year; net profit from home was 54.25 million yuan, down 20.70% from the same period last year; and net profit from non-return was 47.04 million yuan, down 24.22% from the same period last year. Throughout the year, the company's operating system business and related information security, cloud computing business revenue have achieved year-on-year growth, of which the operating system business has achieved significant growth compared with the same period last year. In order to speed up the horizontal expansion of business to other industries, and further improve the construction of regional marketing and technical service system, sales expenses increased faster than the same period last year.
Deeply ploughing the field of electric power and national defense and actively expanding horizontally are expected to benefit from the promotion of Xinchuang. The company deeply ploughs the national defense, power and other industries, and its core products such as operating system and cloud computing have formed strong scale advantages in related industries, and have actively expanded to important industries such as finance. With the replacement demand brought about by Xinchuang's promotion of superimposed CentOS outage this year, the company's server operating system is an industry leader in security and has been fully verified in the power sector, and is expected to get accelerated penetration opportunities with the promotion of Xinchuang.
Upgrade to "highly recommended" investment rating. As Xinchuang advances the overlay of CentOS service, the company's server operating system is expected to accelerate penetration, and the company's 23-24 net profit is expected to be 1.52 million yuan, up to the "highly recommended" investment rating.
Risk hint: the industry expansion is not as expected, the competition is intensified, and the policy is not as expected.