Event: in order to improve the business and strategic layout of Shanghai Konette Intelligent Technology Group Co., Ltd., Kangqi plans to use its own capital of RMB 49 million to acquire a 70% stake in Shanghai Hehui Insurance Brokerage Co., Ltd. After the acquisition, Hehui will become the company's holding subsidiary.
The business is in a strategic transition period and is optimistic about the explosion of revenue in the second half of the year. 18H1 flagship smart revenue increased by only 6%, mainly due to 1. 5%. The market competition environment of traditional bank card value-added services has deteriorated. 2.18Q1 revenue decline, mainly due to Q1 holiday concentration, resulting in actual working hours and insufficient production capacity. 18Q2's traditional business has rebounded significantly. 3. The company is doing bank big data strategic transformation, and actively adjusted the company's organizational structure in the first half of the year, resulting in a partial drag on business expansion.
We believe that the company has a clear strategy and strong executive ability. In the future, the company will output big data's overall solution of "intelligent marketing, intelligent risk control, intelligent customer acquisition" to solve business pain points for banks, insurance and other financial institutions. In the first half of the year, the company actively adjusted the personnel structure and introduced a group of big data talents. We think that the company, as the industry leader, will make efforts in the field of big data, and 18H2 will have a good harvest.
The compound growth rate of new credit cards is expected to reach 20% in the next three years, and there is a strong demand for related value-added services. The number of 17H1 valid credit cards is only more than 64 million, and the number of 18H1 is 103.7 million. Under the pressure of the new regulations on asset management, credit card business will become a new business growth point for banks in the future. At present, major banks are using artificial intelligence, big data and other technologies for intelligent examination and approval and big data analysis services. Due to the weak technical strength, small and medium-sized banks will entrust a third-party team to develop relevant credit card value-added services, which also brings great opportunities to leading enterprises such as Qiji Intelligence.
With the coordinated development of the five major business sectors, the financial big data upstart is about to emerge. The company has completed the new organizational structure adjustment, and will expand rapidly around this structure in the future. The company's five major business sectors are bank big data marketing plate, financial technology service plate, air travel big data business plate, Internet information service plate, and multi-marketing rights and interests service innovation project. At present, the company has you Dianhui, activating Jia, diversified marketing and rights and interests services, air travel points and other star business. In the future, the company will continue to expand the product matrix through endogenesis and extension, so as to create value for financial institutions.
Profit forecast and valuation: based on Flag Intelligence, it not only has the industry leading edge of credit card value-added business, but also actively expands big data's financial services business with unlimited potential. we expect 2018-2020 companies to achieve net profits of 360 million, 470 million and 570 million. We suggest that we should focus on high-quality growth stocks.
Risk Tip: the new business development of Flag Intelligent is not as expected.
