share_log

【国泰君安】榕基软件:数字福建受益标的,项目中标值得期待

國泰君安 ·  Dec 9, 2015 00:00  · Researches

Guide to this report: The company's traditional business transformation continues to deepen and is recognized by the market. We believe that the company's layout in the digital Fujian strategy has considerable advantages, and that the space and model will be greatly stimulated, and the “increase in holdings” rating is once again reaffirmed. Event: The company currently has excellent performance in the computer sector. On the evening of December 8, 2015, there was another indicative announcement of the winning project. The traditional business transformation continues to deepen and is recognized by the market. Comment: Reiterating on the increase in holdings rating, the target price is 32 yuan. Benefiting from the recovery of traditional business, the company's EPS for 2015-2017 is expected to be 0.03 yuan, 0.08 yuan, and 0.10 yuan respectively. The company is currently the most beneficial target of the “digital Fujian” strategy in A-shares. Fujian Province is currently the province where government informatization is at the forefront of the country. It is ahead of other provinces in terms of government support and organizational structure, so the beneficiary listed companies will be the first to usher in broad growth space and occupy a strategic high ground. Xing Rongji, the current subsidiary of Rongji Software, has taken on the task of building a digital IoT platform in Fujian, and also has the only IoT franchise license. In the future, a series of related hardware such as education, the Internet of Vehicles, and wearable devices will be integrated into the IoT platform to carry out unified management, deployment and monitoring through the platform. There will be rapid progress in the direction of government-managed education and the Internet of Vehicles. This operating platform has extremely high entry value. Since Rongji Software has the dual qualifications of national secret and military secret, Xing Rongji has built a comprehensive service platform for the education management of party members in Fujian Province and has received strong praise and high praise from the Organization Department of the Central Committee, which has a great demonstration effect. According to statistics from the Organization Department of the CPC Central Committee, as of the end of 2014, the number of people in our party was over 87 million, and the number of activists and prospective party members exceeded 100 million. In the future, applications such as party member management, publication of party news, study of the Party Constitution, and payment of party fees will be carried out on this platform, and users will be extremely loyal. Furthermore, this platform has a mobile app. Measured from the perspective of user traffic, more than 100 million party members will become loyal users of the platform. In the future, in the party and government market, the party member e-home developed by the company will become the platform with the largest number of users. Xing Rongji will rely on the advantages of cooperation with Fujian Electronic Information Group to enter the SME service platform market. This platform will provide complete IT environment support for small and medium-sized enterprises, and will be promoted to nearly 100,000 small and medium-sized enterprises in the province in 2016. The company will actively develop middleware and PaaS levels in the IT architecture. In the future, PaaS will carry more SaaS services for different business fields, such as enterprise CRM, financial credit, etc., and will derive great commercial value through its excellent card position. We believe that the layout of Rongji Software in the digital Fujian strategy has considerable advantages, and that the space and model will be greatly stimulated, ushered in excellent development opportunities, and once again reaffirmed the “increase in holdings” rating. Risk warning: Platform construction has not progressed as expected, and the recovery of traditional business has fallen short of expectations

The translation is provided by third-party software.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment