Core ideas:
1. M & A flagship intelligence to enter consumer finance. The company acquired 100% equity of Flag Intelligence with 2.34 billion yuan, forming a business pattern of coordinated development of resin lens production and sales business and bank card value-added business innovation services. In order to further improve the layout of consumer finance business, a new Chiwo information has been set up to cut into the field of consumer credit. The increase of 303.31% of the company's home net profit in the first half of 2017 compared with the same period last year is mainly due to the consolidation of flag planning and intelligence.
two。 There are broad prospects for the development of consumer financial markets. The great development potential of China's consumer financial market is mainly based on: 1) the improvement of residents' consumption level drives the growth of consumer credit demand; 2) the growth of credit card issuance scale promotes the rapid development of bank card value-added business; 3) policies help the development of the industry; 4) the establishment of credit information system lays a solid foundation for the development of the industry.
3. Flag intelligence: to create big data consumer finance leader. The reason for the high growth of Banner Intelligence is that it has achieved a breakthrough in the business model from 0 to 1 in the past few years, solving the core issues such as how to do bank value-added innovation services, which products, target groups, big data analysis and so on.
Different from the traditional consumer financial service providers, Flag Intelligence is committed to making use of its own data analysis advantages to create a platform consumer financial services ecology. The company does not directly absorb depositors' funds, but obtains customer data through the channels of banks and other financial institutions, uses its big data analysis advantages to mine customer value, and pushes marketing plans to bank customers in the form of phone calls to promote customer consumption to achieve a win-win effect between the company and banks and other financial institutions.
According to the data disclosed by the announcement, with reference to the company's monthly per capita outbound calls, completion rate and average unit price per commodity in 2015, the number of orders will exceed 550,000 in 2017, and the scale of mail-order sales will reach 1.37 billion yuan. The company has great potential for growth, and its performance in 2017 is expected to exceed expectations.
4. Profit forecast and valuation: the EPS of the forecast company from 2017 to 2019 is 0.63,0.84,1.09 yuan respectively, the company has changed its name to Kangqi shares, and the two main industries have coordinated development, in which Flag Intelligence has entered a stage of rapid replication and expansion from 1 to 100. it is expected that the high performance growth in the next three years is more certain, while the consumer finance business will fully open up the growth space for the company. At present, the company's stock price is valued at about 30 times. Endogenous high growth, highly recommended, target price of 25 yuan!
5. Risk hint: competition in the lens industry intensifies; consumer finance business expansion falls short of expectations
