[matters]
On the evening of August 2, Jinqiao Information disclosed that the second phase of the employee stock ownership plan (draft) in 2023, the maximum amount of funds to be raised is 25 million yuan, and the number of underlying shares to be held is no more than 1.940889 million shares. the price of the employee stock ownership plan to buy back shares of the company is 12.88 yuan per share. The participants in the employee stock ownership plan are the company's directors, supervisors, senior managers, core managers and core backbone staff, with a total number of no more than 111 at the time of its initial establishment.
The performance evaluation of employee stock ownership plan includes performance assessment at corporate level and personal level. Among them, the performance appraisal at the individual level is organized and implemented in accordance with the relevant regulations of the company's current assessment. Personal performance evaluation is divided into A, B, C, D four grades. On the premise that the company's performance goals are achieved, if the holder's annual personal performance appraisal results are qualified, the holder can unlock according to the proportion stipulated in the shareholding plan. The performance assessment at the company level is based on operating income in 2022 and the growth rate of operating income in 2023 is not less than 30%.
[comments]
Equity incentive shows the confidence of the company's performance growth. From the perspective of the incentive object, the equity incentive covers the company's directors, supervisors, senior managers, core managers, core backbone staff, a total of no more than 111 people, which plays a positive role in stabilizing the core staff and is conducive to the long-term development of the company. This equity incentive.
The performance assessment at the company level is based on operating income in 2022, with a growth rate of not less than 30% in 2023. We believe that this equity incentive not only ensures the stability of the company's core talent team, but also shows the company's confidence in 2023 performance growth.
The financial dispute resolution platform is developing rapidly, and the emerging business is expanding vigorously. The upgrade of platform 2.0 in the future will greatly improve the service capacity of the platform, and the number of cases will increase to a certain extent. Multiple dispute resolution platforms are mainly used in financial loan contracts, credit cards, financial leasing contracts and other types of disputes. At present, eight mediation organizations have joined in the process of use, and the clients will be more diverse in the future. From the company's point of view, multiple financial dispute resolution platforms and integrated solutions for financial disputes, including mediation, litigation and enforcement, will develop simultaneously, committed to building core competitiveness in the whole integrated service.
The coordinated development of diversified software products enables business growth. The company develops its own software product, "people's Court Mobile execution platform", which provides a platform-based service model based on SaaS. In 2022, the operating income was about 50 million yuan, an increase of about 30% over the same period last year. In the education industry, the company continues to focus on smart classrooms and smart campuses, with clients ranging from business schools, universities, vocational colleges, party schools, military academies and enterprise training centers. The company introduces advanced technology and high-quality resources into intelligent teaching space scene, promotes the digital and intelligent transformation of teaching scene and teaching space, and helps customers teach students in accordance with their aptitude.
We believe that after nearly 30 years of deep cultivation in the government information industry and with the blessing of new technology, the company will have rapid development in new business areas. we expect the company to achieve a revenue of 11.23pm 12.78 / 1.403 billion yuan from 2023 to 2025, and a net profit of 1.34pm 1.80 / 208 million yuan, corresponding to EPS 0.36pm 0.49max 0.57 yuan, and PE 56.1848.72 times. Give a rating of "overweight".
[risk Tip]
The new product is not as risky as expected.
Macro policy risk