Report highlights:
Tolos Information Technology Co., Ltd., a leading domestic provider of artificial intelligence, big data and data security products and services, was established in 1993 and listed on the Shenzhen Stock Exchange GEM in 2011. The company is a leading provider of artificial intelligence, big data and data security products and services. Its business focuses on the five sectors of digital government, integrated media, fintech, digital enterprise, and public safety. According to “Tolos: Prospectus for Issuance of Shares to Specific Targets in 2023 (Application Draft)”, the company has been ranked among the key software companies in the national planning layout for more than 10 years. The company's products and services have been widely used by more than 10,000 institutional users at home and abroad, and are widely recognized and favored by the market.
The scale of the data factor market is growing rapidly. AIGC will trigger deep changes in the entire industry. According to the “Data Factor Market Ecosystem Research Report (2023)”, GIC Digital Communications points out that with the explosion of data volume and the continuous improvement of data element market-based construction, the data factor market value is being released at an accelerated pace, and the market size and subject scale are growing rapidly. It is expected that the size of China's data factor market will exceed 200 billion yuan in 2025.
According to the “2023 China AIGC Industry Panorama Report” published by iResearch, the scale of China's AIGC industry is expected to exceed trillion yuan in 2030. AIGC will trigger deep changes in the entire industry. The degree of online integration, digital infrastructure, and share of industry content will affect the application prospects and penetration rate of AIGC.
Self-developed Piotanda model, widely used in many fields
The company focuses on its own dominant industries and has launched three major industry models in the three major fields of finance, media, and government affairs, and has a leading edge in the digital and intelligent transformation process that empowers thousands of industries. The “Tuotianda Model” is based on years of independent research and development. It has leading advantages in terms of autonomy and controllability, enhanced Chinese characteristics, enhanced expertise, real-time data access, content security and value alignment, and customer privatization deployment, and is deeply integrated with business scenarios to bring productivity changes to users. Benefiting from strong demand for innovative applications of large models from customers in the financial and media industries, the company's AIGC business achieved revenue of 7.8218 million yuan in the first half of 2023, an increase of 206.02% over the previous year.
Profit forecasting and investment advice
As a provider of artificial intelligence, big data and data security products and services, the company empowers users in various industries with digital intelligence, and there is plenty of room for continuous growth in the future. The company's revenue for 2023-2025 is estimated to be 925, 11.69, and 1,420 million yuan, net profit due to mother of 0.37, 2.46, and 357 million yuan, EPS of 0.05, 0.31, 0.45 yuan/share, and the corresponding PE is 356.93, 54.23, and 37.44 times.
Considering the prosperity of the industry and the company's room for continued growth in the future, it was recommended for the first time and given a “buy” rating.
Risk warning
Market competition risk; risk of seasonal fluctuations in product sales; technology application maturity risk; operation management risk; human resources risk; risk of impairment of goodwill; risk of changes in preferential tax policies, etc.