Video application integrated service provider with a wide range of applications. The company is mainly engaged in video conference system and video surveillance system software and hardware development, equipment manufacturing, product sales and technical services, committed to video conferencing, video surveillance and a wealth of industry solutions to help end-users such as public security, procuratorates, courts, judicial, education, medical, enterprise and government public affairs to solve visual communication and management problems. The company has built two end-to-end complete product lines of video conferencing and video surveillance, which deeply fit users' business processes and provide users with more than 80 kinds of industry application solutions combined with multi-field cutting-edge science and technology.
Under the epidemic, videoconferencing supports telecommuting. Video conference is a multi-person video interactive platform based on cloud technology, which can be well applied in distance education, telemedicine, business discussion, government meeting, emergency command, bank finance, online recruitment and so on. In this epidemic, remote videoconferencing has become the best way to work online due to the extension of the Spring Festival holiday and delays in starting work.
Relying on years of experience in building videoconferencing, command and dispatching, Ping an City, and Intelligent Transportation, Suzhou Koda assists telecommuting with videoconferencing, and develops an epidemic prevention and control APP on January 29, 36 hours, to serve Suzhou public security.
Strategic investment has increased, and revenue is expected to decline in 2019. According to the 2019 performance forecast issued by the company, the net profit of 2019 is expected to decrease by 209.2694 million yuan to 241.4647 million yuan compared with the same period last year, a decrease of 65% to 75% compared with the same period last year. The main reason is that the company has increased its strategic investment in the areas related to video integrated applications, resulting in a fee growth rate that greatly exceeds the growth rate of operating revenue. And the company actively layout command center, video fusion command system and other emerging business. New solutions and new products promote the initial impact of pioneering sales strategies, sales gross margin is relatively low. In addition, the proportion of the company's video surveillance business has increased, resulting in a decline in the company's overall gross profit margin compared with the same period last year.
Company profit forecast and investment rating: we expect the company's 2019-2021 net profit to be 2762, 333, 69 and 1.83 million, corresponding to an EPS of 0.33, 0.01 and 1.49 respectively. The current stock price corresponds to 2019-2021 PE value of 41-13-9 respectively. Give a "highly recommended" rating.
Risk tips: macroeconomic downward pressure, industry competition intensifies the pressure.
