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
公司简介
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是一家总部位于中国的公司，主要从事提供智慧城市解决方案和数据运营服务。
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.
该公司的主要产品包括智能交通、智能医疗和智慧城市。该公司提供综合智慧城市解决方案和数据运营服务，包括信息系统咨询和设计、软件开发、系统集成、运营和维护服务。
The Company operates its business within domestic market, with East China as its main market. (Source: MarketScreener)
该公司在国内市场开展业务，以华东为主要市场。（来源：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” /公司）发布了其2023年限制性股票激励计划（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，该公司首次以每股7.20元人民币的价格向252名员工发放了1,550万股限制性股票。
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推出了包含数字治理模式和应用场景的产品组合，共推出100多种全新的数字治理算法模式。
Investment Highlights
投资亮点
With the stock incentive scheme launched, Enjoyor has consolidated the cohesion of its core talents.
随着股票激励计划的启动，Enjoyor巩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.
该计划计划向包括公司董事、高级经理和核心技术人员在内的252名员工授予1,600万股限制性股票，占其已发行股份的2.01％，其中1,550万股以每股7.20元人民币的价格发放给包括公司董事、高级经理和核心技术人员在内的252名员工，占2022年在职总数的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.
第一笔拨款要求2023年、2024年和2025年的收入增长率与2022年相比不低于24.1％、42.7％和61.3％，收入不低于20亿元人民币、23亿元人民币和26亿元人民币；或净收入增长率不低于188.2％、260.3％和332.3％，分别不低于2亿元人民币、2.5亿元人民币和3亿元人民币。
The assessment targets in this scheme progress steadily, showing its firm confidence in its growth.
该计划的评估目标稳步推进，表明其对增长的坚定信心。
The digital governance modes deeply combine with application scenarios.
数字治理模式与应用场景深度结合。
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多种社会治理模式、30多种智能交通模式和20种智能健康模式，涵盖社会治理、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 “政府智能问答代理” 可以有效克服人工解决方案的不足，使政府服务更加高效、经济和专业。
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于进一步赋能行业的数字化转型，促进人工智能与应用场景的深度结合。
The continuous empowerment of AI helps build digital city ecosystem.
人工智能的持续赋能有助于建立数字城市生态系统。
The company has always incorporated AI into its products and solutions, and has been evolving towards personalization, customization and intelligence.
该公司一直将人工智能纳入其产品和解决方案，并一直在向个性化、定制和智能化发展。
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，该公司在其数字工业生态峰会上推出了 “领先的中央系统”，帮助建立新的政府基层治理模式。
The company also launched its model supermarket, featuring instant use, smooth transfer and data security, and boasting resilient capabilities of capacity expansion.
该公司还推出了模范超市，具有即时使用、流畅传输和数据安全的特点，并具有容量扩展的弹性能力。
With the continuous evolution of AI, the company will accelerate digital reforms and intelligent upgrading to establish digital city ecosystem.
随着人工智能的不断发展，该公司将加快数字化改革和智能升级，以建立数字城市生态系统。
Earnings forecast and investment recommendation
收益预测和投资建议
We estimate its net income attributable to shareholders at CNY 190 million/ CNY 241 million/ CNY 292 million in 2023/ 2024/ 2025. Reiterate "Outperform".
我们估计，在2023年/ 2024/ 2025年，其归属于股东的净收益为1.9亿元人民币/2.41亿元人民币/2.92亿元人民币。重申 “跑赢大盘”。
Potential risks
潜在风险
less-than-expected budgets for downstream clients; slower-than-expected promotion of new products; intensified competition
下游客户的预算低于预期；新产品的推广慢于预期；竞争加剧
译文内容由第三方软件翻译。
