The company is a leading provider of comprehensive solutions for the smart city industry. After years of development, the company has become a highly competitive comprehensive solution provider for smart city industry in China. The company has many professional qualifications, such as national intelligent building special design class A, electronic and intelligent engineering professional contracting level, information system integration and service level, and has won many titles such as "China Smart City Innovation Enterprise", "China Top 80 Intelligent Building", "China Top 30 data Center" and so on.
The smart city has broad prospects and huge space for development. Urbanization has been the basic national policy of our country for a long time, but a series of "urban diseases" have been accumulated in the process of urbanization, and the contradiction between urban development and population, environment and resources has become increasingly prominent. Smart city can effectively resolve the contradiction of urban development, which is the only way to promote urbanization. at the same time, policy support and technological innovation also promote the continuous progress of smart city. In the future, smart cities will become a part of daily life, and the prospect is very broad.
The company has obvious competitive advantage and great potential for growth. Through years of development, the company has accumulated many advantages in service, qualification, brand and technology, and has great potential for growth. The company has a high-quality service system, can better meet the needs of customers; has complete qualifications, has obvious advantages in project acceptance; the company has a good brand image, which helps to expand the market; the company also has an outstanding management team and R & D team.
Investment advice: the company is a domestic excellent smart city industry comprehensive solution provider, in the industry has a strong competitiveness, extremely market scarcity. Based on the judgment of the industry prospect and the company's business, the company's operating income from 2016 to 2018 is expected to be 340 million yuan, 376 million yuan and 434 million yuan respectively, the net profit is 40.8 million yuan, 47.3 million yuan and 59 million yuan respectively, and the EPS is 0.65 yuan, 0.56 yuan and 0.70 yuan respectively. With reference to the valuation level of comparable listed companies, taking into account the policy and market environment of this issue table, the issue price is 9.4 yuan, and the proposed pricing range is 25.00-30.00 yuan.
Risk hints: market competition risk; rising labor cost risk; risk of regional concentration of management.