Incident: The company announced the restricted stock incentive plan on December 15. It plans to grant no more than 2.85 million restricted shares to no more than 63 incentive recipients (including Ms. Wang Jun, the actual controller of the company and the wife of Chairman Wu Suiying), accounting for about 2.7850% of the company's total share capital, at a grant price of 18.55 yuan/share. The 24/25 performance assessment targets are 54 million yuan/65 million yuan, respectively. The plan has yet to be reviewed and approved by the company's shareholders' meeting. At the same time, interaction is easy to respond. The company will apply AIGC technology to scenarios such as text, images, and virtual people. The application of AIGC technology has improved production efficiency, and more fields of application will also be explored in the future.
Comment:
The company is a comprehensive provider of digital creative products and integrated digital solutions. It has always been committed to integrating digital technology with cultural creativity, applying 3D visualization technology and digital multimedia integration technology to provide one-stop digital creative services such as 3D digital content production, software development, comprehensive design, and system integration. This restricted equity incentive plan shows the company's confidence in future development, and it is recommended to pay close attention.
Main products and services:
Digital creative products, including static digital creative services and dynamic digital creative services. Static digital creative services use computer graphic image production and processing technology to simulate the real environment through computer 3D simulation software based on floor plans or structural drawings provided by customers to provide customers with images and design services such as 3D renderings. It is mainly used in architectural design, planning design, survey design and other fields. Dynamic digital creative services, that is, using 3D visualization technology, digital multimedia technology, software development technology, etc., to provide customers with 3D videos (such as 3D high-definition promotional videos, video animations and advertisements, etc.) and digital interactive software (such as virtual reality and augmented reality systems, digital sandboards, digital multimedia interactive systems, stereoscopic (holographic) imaging systems, application software development, etc.). According to customer needs, the company can deliver display content such as 3D videos as an embedded and callable part of digital interactive software as a whole, and digital interactive software is not a general-purpose software that does not require customization or only a small degree of customization for customer needs. Digital interactive software is developed in-house by the company and its subsidiaries.
Digital integration solutions, that is, digital display and system integration services. Digital display and system integration services focus on display planning, overall design, 3D digital content production, software development and system integration to provide customers with digital integrated solutions. Digital integration solutions include providing customers with digital creative product deliverables such as promotional videos, digital sandboxes, and VR and AR systems.
The main contents of digital display and system integration services include creative spatial design, exhibition design, digital content creation, intelligent central control and integrated software development, decoration, equipment installation and system integration services. It is mainly used in cultural and cultural expo, science and technology popularization, smart cities, industrial and urban cultural tourism, cultural and sports activities, etc.
Digital twins and information software: It mainly uses digital information technology, combined with AI, big data, GIS, VR/AR, IOT and other technologies to provide customers with digital twin platforms, cloud virtual pavilions, digital intelligent virtual humans and other products based on smart city and industrial park management, industry 3D big data applications, industrial data and information management. The business company invested in research and development in 2019, and its products and services were promoted to the market in 2022, producing a number of benchmark cases and excellent projects that were recognized by customers. In 2022, digital twins and information technology software achieved a total revenue of RMB 11.514 million, accounting for 1.89% of the company's total revenue. Revenue for the first half of 2023 was 10.1152 million yuan, accounting for 6.27% of the company's total revenue and 50.67% gross profit margin. In 2022, the company had 154 R&D personnel, accounting for 13.92% of total employees.
Risk warning: risk of cyclical macroeconomic fluctuations; risk of loss of core technology and personnel; risk of project quality control and large-scale project management due to expansion of business scale.