The prospect of IT transformation of banks is broad, and the company remains a leader in the field of Internet banking IT solutions.
With the rapid development of Internet finance, there is a broad market for bank IT solutions. The company has been taking Internet banking as a strategic focus, actively advocating and promoting the concept of transformation from traditional banks to Internet banks in the industry, which has been fully recognized by bank users and the industry. Colan Software continues to take the lead in the field of Internet banking IT solutions. according to the 2018 annual report released by IDC, among the major vendors of Bank of China Ltd. 's IT solution market, Colan software has a market share of 2.4%, of which Internet banking solutions have a market share of 16.7%, and channel solutions have a market share of 8.4%. The market share of online banking solutions is 18.5%; the market share of mobile banking solutions is 17.3%. In the above market segments, the company ranks first in market share.
Launch the intelligent high-cabinet robot Xiaolan to create a smart banking system. Launch the intelligent high-counter robot Xiaolan, and pass the financial standardization test of the people's Bank of China to promote the intelligent transformation of bank outlets. EID network authentication platform was selected into the digital enabling service product list of the Ministry of Industry and Information Technology.
Promote financial science and technology innovation, with cooperation and customer resources advantages. Signed strategic cooperation agreements with Ant Financial Services Group, JD.com and Aliyun respectively, carried out in-depth cooperation in blockchain finance, financial technology export, banking projects and other fields, deeply cultivated the industry for 20 years, and accumulated rich customer resource advantages.
The distributed in-memory database with completely independent property rights adapts to the trend of database localization. In 2018, Colin acquired 67.15% shares of South Korea's SUNJE SOFT, and owns the complete independent intellectual property rights of Goldilocks, a distributed memory database product developed by SUNJE SOFT, which is completely controllable, has a strong high concurrency and performance guarantee, can meet the business needs of big data, and conforms to the trend of database localization in China. Database revenue accounted for 2.25% in 2019. At present, there are many kinds of domestic databases in the market. Colan software Goldilocks database is a transactional database with completely independent intellectual property rights, which is expected to open up a broad market space.
Company profit forecast and investment rating: the company focuses on the banking IT field, arranges domestic distributed memory database, promotes financial technology innovation, and is optimistic about the company's business development. we estimate that the company's homing net profit from 2020 to 2022 is 0.61,0.77 and 100 million yuan respectively, corresponding to 0.20,0.26,0.33 yuan respectively. Current stock prices correspond to PE values of 126,100 and 77 times from 2020 to 2022, respectively. Cover for the first time and give a "recommended" rating.
Risk hint: the uncertainty risk of investment return cycle in the application field of scientific and technological innovation, and the uncertainty risk of market competition pattern and iterative update of technological development.