The company has invested tens of millions of yuan in cross-border e-commerce ERP service provider Ma Bang ERP: according to the company's official account, the company has recently invested tens of millions of RMB in cross-border e-commerce ERP service provider Ma Bang ERP to increase the layout of cross-border e-commerce SaaS. Horse gang ERP, founded in 2010, is a benchmark company in cross-border e-commerce company ERP.
Through the use of Internet means and tools, Ma Bang ERP implements front-end development and selection, sales publication, operation data analysis, back-end order delivery, after-sales customer service, inventory management, domestic and foreign warehousing management, procurement supply chain, financial and employee performance reports and other services, helping merchants to achieve one-stop, cross-platform, multi-store management, and more committed to creating efficient management methods and solutions. The cross-border layout of Guangyun Technology began in 2016, starting with small and medium-sized e-commerce SaaS products. The cross-border version of the main product Super Store Manager provides sellers with full-link services including big data selection, smart product launch, multi-platform order processing and global warehousing management, as well as the world's leading cross-border e-commerce platforms such as Amazon, eBay, Aliexpress, Lazada, Wish, Shopee, Joom and so on.
We believe that this strategic investment will enable the two companies to complement each other, further improve the ERP and cross-border e-commerce product layout of Guangyun technology, and expand their business territory.
70 million investment is really smart, with AI+RPA enabling SaaS:11 on April 16, the company issued an announcement. Based on the optimism about the robot process automation (RPA) industry, the company's board of directors agreed to use its own capital of 70 million yuan to invest in Hangzhou Real Intelligent Technology Co., Ltd. to increase its registered capital of 1.0019 million yuan and hold 11.67% of the equity. According to the Real Intelligence official website, the company was founded in August 2018 to locate artificial intelligence technology companies, focus on AI+RPA racetrack, and provide services to large customers in digital government, operators, finance, e-commerce, energy, transportation and other fields through all kinds of intelligent software robots, namely "octopus digital employees".
According to the company announcement, RPA can simulate manual operations according to preset operating rules, and greatly improve the operation and maintenance efficiency of e-commerce merchants in scenarios such as updating information, production management, supply chain management, sales analysis, marketing management, website data import, customer service system integration, data monitoring, etc. According to Real Intelligence official Weibo, on December 6, Guangyun Technology and Real Intelligence topped the list of the most influential companies of the year of WISE2020, King of China's New economy, in the field of enterprise services, e-commerce services and PRA, respectively. We believe that the two leading technical strength, and the core team have worked for BABA, it is easier to cooperate in the next cooperation, to enable the company's e-commerce SaaS services, will play a good role in promoting the company's future business development.
The purchase of office space is changed to self-built, demonstrating the company's long-term development confidence: on November 16, the company issued an announcement to change the implementation of "site investment" in the initial public offering (IPO) investment projects "Optimization and upgrading Project of Guangyun Series products" and "R & D Center Construction Project", from the purchase of office buildings to self-built SaaS R & D and production base in Hangzhou. The announcement said that the construction of the project will help the company to recruit more R & D and technical personnel, so as to strengthen the company's R & D team and enhance the company's R & D strength and core competitiveness. We believe that the company's choice of self-built base to increase more R & D technical personnel demonstrates the company's confidence in long-term growth.
Profit forecast and investment advice: we expect the company's revenue from 2020 to 2022 to be 538 million yuan, 637 million yuan and 778 million yuan, respectively, an increase of 15.9%, 18.3% and 22.2% over the same period last year. It is estimated that the company's net profit from 2020 to 2022 will be 106 million yuan, 124 million yuan and 167 million yuan, respectively, an increase of 9.6%, 17.3% and 34.5% over the same period last year, corresponding to an EPS of 0.26 shock 0.31 pound 0.42 yuan respectively. Compared with comparable companies in the field of cloud services, based on the high growth of the e-commerce industry and the company's leading position, the company should be given a corresponding premium. We give Guangyun Technology 25-28 times PS,2021 year 128x PE in 2021, corresponding to a 6-month reasonable value range of RMB39.56-44.50RMB, with a rating of "better than the market".
Risk hint: the development of e-commerce industry is not as expected, product expansion is not as expected, and the risk of intensified market competition.