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上海钢联(300226)公司信息更新报告:数据服务保持较快增长 AI应用和数据入表可期

Shanghai Steel Union (300226) Company Information Update Report: Data Services Maintain Rapid Growth, AI Applications and Data Entry Can Be Expected

開源證券 ·  Jan 29

Industry data service leader, maintaining a “buy” rating

The company released its 2023 performance forecast. Industrial data services maintained relatively rapid growth, and net profit to mother increased year-on-year.

The company's industry model and AI assistant were officially released, and commercial implementation is worth looking forward to. The data assets are about to be implemented, and the quality of the company's financial reports is expected to improve further, which can be expected in the future. We maintain our profit forecast. We expect the company's net profit for 2023-2025 to be 224, 3.22, and 420 million yuan, respectively. The corresponding EPS is 0.70, 1.00, and 1.30 yuan/share, respectively, and the corresponding PE price is 33.1, 23.1, and 17.7 times, respectively, to maintain a “buy” rating.

The company released its 2023 performance forecast. The industry data service will maintain a relatively rapid growth rate in 2023. The company expects to achieve net profit of 2.08-265 million yuan, an increase of 2.40%-30.46% over the previous year, and is expected to achieve net profit after deduction of 1.53-210 billion yuan, an increase of -9.80%-23.75% year-on-year. By business, the industrial data service achieved revenue of about 801 million yuan in 2023, an increase of about 16% over the previous year. The company's industrial data service expanded rapidly, and the standardization level and brand influence of industrial data services continued to improve; in terms of steel trading services, the settlement volume of the steel and silver e-commerce platform was about 63.6 million tons, an increase of about 20% over the same period last year.

The industry model and AI assistant were officially released. The commercialization is worth looking forward to the company's intensive research on the data information business. The big model application scenario has remarkable advantages. The company began large-scale model research and development in December 2019, and the “three-step” strategy continues to advance: the first step is to solve the problems of reducing internal costs and increasing efficiency; the second step is to complete commercialization and product modeling of large models; the third step is to go global, empower industry users, and help users customize the big or small models needed for enterprise development. In December 2023, the company officially released the “Grandmaster of Steel” commodity industry standard and the “Xiaogang” digital intelligent assistant. The “Xiaogang” assistant has various abilities such as price and data query, information collation, content summary, report interpretation, analysis and prediction, etc., which can help users complete their daily tasks more efficiently, and future commercialization is worth looking forward to.

Data element policy dividends have been introduced intensively. At the end of December 2023, the Ministry of Finance issued the “Guiding Opinions on Strengthening Data Asset Management”, which clearly unleashed the value of data assets. At the beginning of January 2024, 17 departments including the National Data Administration jointly issued the “Data Elements ×” Three-Year Action Plan (2024-2026), which requires the creation of more than 300 typical application scenarios by the end of 2026, with the average annual growth rate of the data industry exceeding 20%. Data asset registration began to be implemented on January 1. It is expected to further show the value of the company's data resources and improve the quality of financial statements. The future can be expected.

Risk warning: business promotion falls short of expectations; increased market competition; risk of fluctuations in the steel industry.

The translation is provided by third-party software.


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