① Baoxin Software achieved revenue of 12.916 billion yuan in 2023, a year-on-year decrease of 1.78%; achieved net profit of 2,554 billion yuan, an increase of 16.82% over the previous year; ② In 2024, the company will continue to promote in-depth iterative R&D and industrialization of PLC products; and build an intelligent computing center to support the construction and development of large-scale industry models and artificial intelligence applications.
Financial Services Association, March 29 (Reporter Wu Xin) Since January, Baoxin Software's (600845.SH) stock price has been falling continuously, triggering market speculation about whether its 2023 results are “not good enough.” Today, the company disclosed its 2023 financial report. Revenue declined and net profit increased.
Financial reports show that in 2023, the company achieved operating income of 12.916 billion yuan, a year-on-year decrease of 1.78%; realized net profit to mother of 2,554 billion yuan, an increase of 16.82% over the previous year; and achieved a net operating cash inflow of 2,608 billion yuan.
By business, in 2023, Baoxin Software's software development and engineering services (informatization, automation, intelligence) revenue was 9.322 billion yuan, service outsourcing (mainly IDC) revenue was 3.491 billion yuan, and system integration revenue was 93 million yuan. As the pace of domestic substitution and new industrialization in key areas in China accelerates, Baoxin Software also continues to gain strength on digital economy growth tracks such as automation, robotics, and AIDC.
A CIFA reporter noticed that in the field of high-end automation, the market share of large domestic PLCs has long been monopolized by foreign investors such as Siemens. After Baoxinsoft launched a self-developed large-scale domestic PLC in 2021, it is currently at the stage where its market share is 0 to 1. Analysts said that the scarcity of large-scale PLC automation industrial software products in China also means that the market space is relatively broad, and domestic manufacturers such as Baoxin Software are expected to benefit.
According to Baoxin Software, the company has a full-stack domestic chemical control software and hardware product matrix. In terms of integrated factory control, intelligent edge computing, and innovative data applications, it can provide customers with smart factory digital transformation solutions such as full-process digital monitoring, full-process intelligent connection, full-process unmanned operation, and all-factor intelligent production.
A CIFA reporter learned that in the past year, in terms of robots, Baoxin Software established a Baoluo demonstration production line for related application scenarios to promote large-scale robot access to the Baoluo Cloud (which provides data support and services for robots) platform. The company stated on the investor interactive platform that it will “strive to implement robot embedded applications throughout the steel manufacturing process.”
In addition to this, Baoxin Software also announced in December 2023 that it plans to control the industrial robot developer “Turing Robot” through a cash capital increase of no more than 197 million yuan to lay out the high-end industrial robot field.
It is worth noting that in the service outsourcing business with IDC as the main focus, Baoxin Software's gross margin was 50.26%, an increase of 4.22 percentage points over the previous year. Baoxin Software said that in 2024, it will “continue to promote in-depth iterative R&D and industrialization of PLC products; build an intelligent computing center to support the construction and development of large-scale industry models and artificial intelligence applications.”