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【国泰君安】皖通科技:设立车联网子公司 “互联网+”迈出第一步

國泰君安 ·  Jun 11, 2015 00:00  · Researches

Maintain an increase in holdings rating. Considering the company's investment in emerging businesses, the 2015-16 EPS forecast was lowered to 0.26 (-0.10) /0.34 (-0.14) yuan. The computer industry's median value of PE in 2015 was 130 times. Considering that the company set up an Internet of Vehicles subsidiary, “Internet+Transportation” took the first step, gave it a certain valuation premium, and raised the target price to 68 yuan. With the establishment of a subsidiary for the Internet of Vehicles, “Internet+Transportation” has taken the first step. On the evening of June 10, the company announced that it will use 24 million yuan to jointly invest with Anhui Expressway Network Operation Company and Anhui Tianxingjian to establish Anhui Xingyun Tianxia Auto Link Technology to carry out public travel services and automotive aftermarket services. The company holds 80% of Xingyun World's shares, and the highway network operator holds 15% of its shares. The Anhui Expressway Network Operation Company mainly undertakes tasks such as informatization construction, highway network toll operation management, technical services, and electronic toll operation in the transportation industry in Anhui Province, and has accumulated a large amount of traffic information service resources and data resources. Using the channels of expressway operators, the company is expected to accumulate driver users through various channels such as ETC recharge inquiries, and enter the automotive aftermarket through the data resources it has. The State Council has deployed measures to promote the rapid development of cross-border e-commerce, and the value of cross-border logistics information integration has been highlighted. On June 10, the State Council held a meeting to make arrangements to promote the healthy and rapid development of cross-border e-commerce. The integration of maritime logistics information will effectively improve the efficiency of cross-border e-commerce logistics. Yantai Huadong Electronics, a subsidiary of Wantong, is the most comprehensive provider of information system solutions for port and shipping enterprises in China, with a market share of over 50%. Moreover, the China Port Network owned by Huadong Electronics has detailed information on 90,000 logistics companies and ship schedule data from more than 100 major shipping companies, and has the ability to integrate cross-border logistics information. Risk warning: The development progress of the Internet of Vehicles business is falling short of expectations.

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