Main points of investment:
The company released its 2015 results, KuaiBao, with a total operating income of 846217770.43 yuan, + 63.50% over the same period last year, a total profit of 24448395.66 yuan, + 68.17% over the same period last year, and a net profit belonging to shareholders of listed companies of 28584326.91 yuan, + 50.33% over the same period last year. Regardless of the impact of epitaxial mergers and acquisitions, the performance of endogenous growth is in line with expectations.
Recently, the company received the "bid winning notice", which confirmed that the company was the winning bidder for the integrated procurement of police communication system equipment and related services for the Nanning Rail Transit Line 2 project, with a winning amount of RMB 50500000.
In terms of traditional business, we will strengthen market development externally, strengthen internal management internally, and achieve rapid growth in 2015. In 2015, the company stepped up its market development efforts, prompting the company's sales performance to increase significantly compared with the same period last year. At the same time, in terms of cost control and internal management, the company strengthened its internal management and improved its management efficiency, and its operating profit rose 68.17% in 2015 compared with the same period last year. While improving the ability to obtain orders, the company has strengthened its ability to optimize the asset structure, received part of the contract execution claims and disposed of part of the company's assets.
Endogenous extension dual-driven layout of the big data industrial chain, providing strong support for the combination of industry and finance. The company's Internet of things + and medical robots and wearable devices in cooperation with Imperial College and Vanguard Finance are expected to become the collection portal for big data, while the company sets up Huai Hai data Company. layout big data trading, cleaning and modeling technology development, and through extension cooperation to obtain Imperial Research support in big data's scientific field. The company is currently collecting-trading, processing-modeling and analysis in big data. The layout of the whole industry chain will provide strong support for the company to carry out supply chain finance, credit information and other services in the future.
It is expected to rely on the resources of major shareholders to lay out the whole financial industry chain. The company has made a layout in the fields of securities, microfinance, funds, investment, mutual insurance and so on. Part of the company's directional additional funds will also be invested in financial technology clouds and mergers and acquisitions of Yinghua leasing, and large-stock vanguard finance has outstanding strength in the financial sector. By laying out the financial plate and providing financial services to the customers in the industrial chain, the company can close the relationship between the upstream and downstream companies and form the competitive advantage of the industrial chain. The positive interaction between industry and finance, the combination of deficiency and reality will help the company to open up a broader space for growth in the future.
Maintain the "overweight" rating. Maintain profit forecasts of 67 million and 84 million, corresponding to PE71/57 times, for the year 16 to 17.
Risk Tip: the risk that mergers and acquisitions will fail