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百洋股份(002696)点评:联手广西职业技术学院共建数字艺术学院 利用产业优势完善高教板块布局

天風證券 ·  Oct 9, 2018 00:00  · Researches

Jointly with Guangxi College of Information Technology (planned), the company announced that on October 8, the company signed a “Digital Art College Cooperation Agreement” with Guangxi College of Information Technology (planned) to jointly establish the Digital Art School of Guangxi Institute of Information Technology to jointly cultivate digital art design talents. After graduation, students will obtain academic certificates issued by the state. The partner, Guangxi College of Information Technology, was organized by the People's Government of the Autonomous Region and commissioned by Guangxi Radio and Television University to build and manage, the first full-time general higher vocational technical college in Guangxi featuring information technology. The Guangxi Polytechnic Institute of Information Technology is being prepared and has now obtained approval from the People's Government of the Autonomous Region to prepare for construction. Guangxi Radio and Television University was founded in January 1979 by the Guangxi Zhuang Autonomous Region People's Government and managed by the Guangxi Zhuang Autonomous Region Department of Education. It is a new type of university that uses modern information technology to carry out remote open education under the guidance of the National Open University (formerly China Central Radio and Television University). The School of Digital Art has an enrollment target of 3,000 students (enrollment is expected to begin next year). It plans to set up majors in digital media art design, interior art design, game design, film and television multimedia technology, film and television animation, etc. The period of cooperation between the two parties is 20 years. The two sides provide working capital for the daily operation of the Digital Art Institute according to the following ratio, Guangxi Institute of Information Technology provides 45%, and Baiyang Co., Ltd. provides 55%. Baiyang Co., Ltd. is responsible for the investment and construction of supporting facilities such as classrooms, dormitories, canteens, office buildings, and sports facilities for the School of Digital Art. Currently, the country strongly promotes the integration of industry and finance, school-enterprise co-construction, using advanced manufacturing experience and cutting-edge technology on the industrial side to seize hot demand and cultivate modern applied talents based on practice. On the one hand, it enriches subject content and guides market-based professional construction through school-enterprise cooperation; on the other hand, it uses industrial capital to enhance financial strength and enhance the teaching software and hardware environment. Using the existing curriculum system and teaching staff in the Martian era, this cooperative school is exploring a new model of school-enterprise cooperation with partners, which is conducive to giving full play to the resource advantages of enterprises and schools, expanding the company's popularity and brand influence in the industry, and increasing the company's new revenue and profit growth points. Maintain profit forecasts and give buying ratings. The company's original main business was aquatic science and technology research and development, aquaculture, aquatic technology services, aquatic feed, aquatic food. After the acquisition of the Mars Era, it entered the field of digital art education, laying a good foundation for building an educational and cultural platform. Mars' net profit in 17 years was 87.03 million yuan, an increase of 43% over the previous year. Currently, 15 offline teaching centers have been set up in 13 cities including Guangzhou, Shenzhen and Hangzhou in the north. The company will further lay out along the education and culture industry chain, cultivate new profit growth points, and achieve industrial upgrading and continuous development. We expect the company's EPS in 18-19 to be 0.46 yuan and 0.60 yuan respectively, and the corresponding PE will be 18x and 14x respectively. Risk warning: The agreement signed this time is a cooperative school operation agreement. There is uncertainty about the implementation progress and operating results of specific projects. The enrollment situation in the Martian era fell short of expectations, and the development progress of new courses fell short of expectations

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