Driven by the two major business sectors, the scope of business is further expanded. The company has a rich background for a long time and has obvious advantages in the core technology. The company is a leading identity information integrated service provider, providing domestic and foreign customers with identity information trusted technology as the core of multi-dimensional identification, intelligent public services and other services. The company continues to expand its business scope with the further development of identification and intelligent applications and intelligent transportation in the two major business sectors.
Deep ploughing intelligent card terminal, identity identification and intelligent application business is further developed. The company has core technical advantages in the field of security card, and the company actively provides multi-scene solutions, expand intelligent public security and intelligent government business. The company launched intelligent acceptance, certificate online management of various solutions to enhance the company's business scope, the future revenue growth space to further expand.
Shares in Lantaiyuan, into the bus SaaS, broad prospects for development. The company announced that it intends to use its own capital of 20.1479 million yuan to acquire 15.5% of the shares and 940.2374 shares of Shenzhen Lantaiyuan Information Technology Co., Ltd by way of capital increase and acquisition. Lantaiyuan specializes in providing overall solutions for public transport informatization. In the future, the company will focus on bus SaaS business in intelligent transportation. Based on the construction of public transport payment cloud platform, the company's intelligent public transport SaaS platform is accelerated. The platform will enable industry customers to assist in management and decision-making with multi-dimensional data analysis, improve the efficiency of operation and management, and provide capacity reserves for the data exchange between customers and the Internet and the realization of bus big data.
Smart bus 3.0 has a broad development prospect, and there is a great demand for bus SaaS. The independently developed intelligent public transport solution system, "Huixing Cloud", is a major intelligent transportation solution launched by the company, which is committed to building a new Internet architecture based on cloud computing and big data. With data as the core and demand-oriented, Huixing Cloud covers one center, three platforms and six applications, opening up the whole value chain of public transport business, providing professional and intelligent public transport cloud service platform and one-stop solution. The new intelligent public transport service will be mainly based on the bus SaaS service to help the public transport industry achieve digital services, reduce costs and improve the efficiency of operation and management. At present, there are few manufacturers in this field and is conducive to the promotion of standardized products in various places. With the intelligent transformation and upgrading of public transport, the business demand will increase, and the business income growth space is considerable.
Company profit forecast and investment rating: the company is expected to achieve an income of 8.25,10.16 and 1.264 billion yuan in 20-22, and a net profit of 1.40,1.72 and 214 million yuan respectively. The current stock price corresponds to a PE value of 23, 19 and 15 times respectively from 2020 to 2022. Maintain the recommended rating.
Risk hints: major changes in industry policy, lower-than-expected bus SaaS promotion, resumption of work, overseas business development and project implementation are not as expected.
