ENJOYOR TECHNOLOGY(300020):EQUITY INCENTIVE SHOWS CONFIDENCE AI EMPOWERS DIGITAL CITY ECOSYSTEM
ENJOYOR TECHNOLOGY(300020):EQUITY INCENTIVE SHOWS CONFIDENCE AI EMPOWERS DIGITAL CITY ECOSYSTEM
The Company operates its business within domestic market, with East China as its main market. (Source: MarketScreener)Company Profile
公司簡介
Enjoyor Technology Co Ltd is a China-based company principally engaged in the provision of smart city solutions and data operation services.
Enjoyor Technology Co Ltd是一家總部位於中國的公司，主要從事提供智慧城市解決方案和數據運營服務。
The Company's main products include intelligent transportation, intelligent medical treatment and smart city. The Company provides integrated smart city solutions and data operation services, including information system consulting and design, software development, system integration, operation and maintenance services.
公司的主要產品包括智能交通、智能醫療和智慧城市。公司提供綜合智慧城市解決方案和數據運營服務，包括信息系統諮詢和設計、軟件開發、系統集成、運營和維護服務。
The Company operates its business within domestic market, with East China as its main market. (Source: MarketScreener)
該公司在國內市場開展業務，以華東地區爲主要市場。（來源：MarketScreener）
Event
事件
On June 13, 2023, Enjoyor Technology Co Ltd ("Enjoyor"/ the company) released its restricted stock incentive scheme for 2023 (draft).
2023年6月13日，Enjoyor Technology Co. Ltd（“Enjoyor” /該公司）發佈了其2023年限制性股票激勵計劃（草案）。
On June 30, the company first granted 15.5 million restricted stocks to 252 employees at the price of CNY 7.20 per share.
6月30日，該公司首次以每股7.20元人民幣的價格向252名員工發放了1,550萬股限制性股票。
On July 3, Enjoyor launched its product mix with digital governance modes and application scenarios, totally launching more than 100 brand-new digital governance algorithm modes.
7月3日，Enjoyor推出了包含數字治理模式和應用場景的產品組合，總共推出了100多種全新的數字治理算法模式。
Investment Highlights
投資亮點
With the stock incentive scheme launched, Enjoyor has consolidated the cohesion of its core talents.
隨着股票激勵計劃的啓動，Enjoyor鞏固了其核心人才的凝聚力。
The scheme planned to grant 16 million restricted stocks, accounting for 2.01% of its outstanding shares, with 15.5 million for the first time at the price of CNY 7.20 per share to 252 employees including the company's directors, senior managers and core technicians, occupying 39.81% of the total on the job in 2022.
該計劃計劃向包括公司董事、高級經理和核心技術人員在內的252名員工授予1,600萬股限制性股票，佔其已發行股份的2.01％，首次以每股7.20元人民幣的價格向252名員工發放1,550萬股，佔2022年在職總數的39.81％。
The first grant requires the revenue growth rate is no lower than 24.1%, 42.7% and 61.3% in 2023, 2024 and 2025 compared with 2022, with revenue no less than CNY 2 billion, CNY 2,3 billion, and CNY 2.6 billion; or the net income growth rate is no lower than 188.2%, 260.3%, and 332.3%, with the figure no less than CNY 200 million, CNY 250 million, and CNY 300 million, respectively.
第一筆撥款要求2023年、2024年和2025年收入增長率與2022年相比不低於24.1％、42.7％和61.3％，收入不低於20億元人民幣、23億元人民幣和26億元人民幣；或者淨收入增長率不低於188.2％、260.3％和332.3％，分別不低於2億元人民幣、2.5億元人民幣和3億元人民幣。
The assessment targets in this scheme progress steadily, showing its firm confidence in its growth.
該計劃的評估目標穩步推進，顯示出其對增長的堅定信心。
The digital governance modes deeply combine with application scenarios.
數字治理模式與應用場景深度結合。
The company has launched over 50 social governance modes, more than 30 intelligent transportation modes and 20 intelligent health modes, covering social governance, intelligent transportation, smart health.
公司已推出50多種社會治理模式、30多種智能交通模式和20種智能健康模式，涵蓋社會治理、智能交通、智慧健康。
For example, its "Government Smart Q&A Agent" could effectively overcome shortcomings of manual solutions, making government services more efficient, economic and professional.
例如，其 “政府智能問答代理” 可以有效克服手動解決方案的缺點，使政府服務更加高效、經濟和專業。
The modes launched this time is conducive to further empowering the transformation of digitalization for the industry and promoting the deep combination of artificial intelligence and application scenarios.
此次推出的模式有利於進一步賦能行業數字化轉型，促進人工智能與應用場景的深度結合。
The continuous empowerment of AI helps build digital city ecosystem.
人工智能的持續賦能有助於構建數字城市生態系統。
The company has always incorporated AI into its products and solutions, and has been evolving towards personalization, customization and intelligence.
該公司一直將人工智能融入其產品和解決方案中，並一直朝着個性化、定製和智能化方向發展。
In May of 2023, the company launched "Leading Central System" at its digital industrial ecology summit, helping establish new mode of government grassroot governance.
2023年5月，該公司在其數字產業生態峯會上推出了 “領導中央系統”，幫助建立新的政府基層治理模式。
The company also launched its model supermarket, featuring instant use, smooth transfer and data security, and boasting resilient capabilities of capacity expansion.
該公司還推出了其模型超市，具有即時使用、流暢傳輸和數據安全性，並具有彈性的容量擴展能力。
With the continuous evolution of AI, the company will accelerate digital reforms and intelligent upgrading to establish digital city ecosystem.
隨着人工智能的不斷髮展，公司將加快數字化改革和智能升級，以建立數字城市生態系統。
Earnings forecast and investment recommendation
收益預測和投資建議
We estimate its net income attributable to shareholders at CNY 190 million/ CNY 241 million/ CNY 292 million in 2023/ 2024/ 2025. Reiterate "Outperform".
我們估計，2023年/2024/2025年其歸屬於股東的淨收益爲1.9億元人民幣/2.41億元人民幣/2.92億元人民幣。重申 “跑贏大盤”。
Potential risks
潛在風險
less-than-expected budgets for downstream clients; slower-than-expected promotion of new products; intensified competition
下游客戶的預算低於預期；新產品的推廣速度低於預期；競爭加劇
譯文內容由第三人軟體翻譯。
