Event: Meng.com Technology "Unified message Center (UMC) v5.3" was awarded "excellent Software products of 2023" by China Software Industry Association.
The digital transformation achievements of Dreamnet science and technology in the field of message communication are widely recognized. The company cooperates with a number of banks and government agencies to complete the upgrading of localization in order to better meet the diversified and personalized needs of government, enterprises and consumers. The company's "Unified messaging Center (UMC) v5.3" application has been widely used in finance, government affairs, Internet, health care, education and other industries, providing customers with intelligent cloud communication services to achieve more efficient communication and collaboration. As a leading company in China's cloud communications industry, the company has great potential for development.
Actively embrace AI and join hands with the head enterprise to seek common development. Taking advantage of the changes brought about by AI and other cutting-edge technologies to the communications industry, the company formally signed a cooperation agreement with Huawei Cloud on the Pangu model and became an ecological partner of the Pangu model, and the two sides will carry out in-depth cooperation in the field of AIGC. Based on the Huawei Pangu model, the company successfully built the AI shopping guide robot products and created an intelligent creative tool for the "brocade case".
2023H1's performance was in line with expectations, and new businesses such as 5G rich media news performed brightly. 2023H1, the company achieved operating income of 2.364 billion yuan, an increase of 42.27% over the same period last year, a net profit of 40 million yuan, an increase of 758.36%, and a non-return net profit of 7 million yuan, an increase of 152.70% over the same period last year. The proportion of revenue and profit of new businesses such as 5G rich media news has steadily increased, which is the main engine of the company's performance growth, of which 5G rich media news business revenue increased by 155.81% year-on-year and business volume increased by 136%. International cloud communications business revenue increased by 324.98% year-on-year, business volume increased by 274% year-on-year.
Investment suggestion: we expect the company's 23-25 year revenue to be 56.24,70.15 and 8.225 billion yuan respectively, and the return net profit to be 2.09,3.76 and 634 million yuan respectively, maintaining the company's "buy" rating.
Risk tips: 5G rich media business progress is not as expected; SMS procurement costs rise; downstream enterprises enhance bargaining power.