Nanwei Software (603636) Company Tracking Report： Qianlong Increases Capital in Big Data Subsidiary

Nanwei Software (603636) Company Tracking Report: Qianlong Increases Capital in Big Data Subsidiary

Rapid profit growth.

The company’s headquarters announced a performance forecast and realized return to mother’s profit in 20181.

7 ppm-2.

0ppm, an annual increase of 66.

95% -94.

13%, with a median of 80.

54%, a 73.% increase in the next ten years
.

35% -105.

93%, median 89.

64%.

This is another high-speed growth year for the company following the 100% increase in net profit attributable to mothers in 2017. We believe that the industry’s high business climate guarantees a sustained and stable growth in performance.

The reduction pressure has been completely released.

On February 19, the company announced that Xiaofei Kaixin Jinpeng intends to reduce its holdings by no more than 18.12 million shares (accounting for 3 total shares).

44%), senior management fits to reduce its holdings by no more than 790,000 shares (accounting for 0 of total equity).

15%).

The company announced on March 14 that Xiaofei Kaixin Jinpeng has reduced its holdings by more than half and promised that all of its remaining 9.06 million shares will be reduced through block trading.

Executive Liao Changbao’s remaining reduction is only 10.

With 620,000 shares, we think that the company’s pressure to reduce its holdings has basically been released.

Capital increase in big data subsidiary.

The company announced on February 28 that it has merged with Chengdu Sifang Weiye Co., Ltd. “Capital Increase and Share Expansion Agreement of Chengdu Sifang Weiye Software Co., Ltd.”. The company intends to invest 50 million yuan in Sifang Weiye. After the capital increase is completed, the company ‘s stake in Sifang Weiye will be 10%.Increased to 15.

29%.

The Air Force Company invested 80 million yuan in Sifang Weiye on June 7, 2018, holding a 10% stake in Sifang Weiye.

According to the official website, Sifang Weiye was established in 2014 and has more than 600 employees. It is a leading domestic big data platform and artificial intelligence service provider. It is committed to ultra-large-scale data calculation and data processing, mainly serving the government, telecommunications, and energy., Transportation, military industry and many other fields, the business involves companies and government agencies in more than 70 countries and regions around the world.

Domestic customers include more than 300 users in various industries within the central ministries and commissions such as the Supreme Maintenance, the Ministry of Communications, the General Post Office, the General Aviation Administration of the People’s Republic of China (AVIC), the Central Organization Department, the Ministry of Science and Technology, and Huawei, ZTE, Digital China, ChinaSoft, and taxpayers.More than 50 large solution providers and partners in various industries provide big data products and services.

The core entrance of government big data.

Most of the social data is manipulated by the government, and there are great application scenarios in the future, which is why Ali has invested in companies.

We believe that the capital increase and share expansion to the participating companies are in line with the company’s strategic plan, which is conducive to enhancing the company’s competition in the field of big data. At the same time, it will deepen the overall industrial layout in combination with the company’s government affairs, party affairs, military, public security and other fields, and effectively promote the company to form new businessGrowth points to promote the company’s transformation and upgrading.

Earnings forecasts and investment advice.

The industry’s prosperity and demand have increased significantly, and the company will enter a high-growth channel. In addition, the company’s alternative innovation business has also begun to turn a deficit and gradually contribute to its performance.

Taking into account the impact of the pace of confirmation of the institutional reform performance in 2018, we estimate that the company’s net profit attributable to mothers for 2018-2020 will be 1.

9 billion, 2.

8.1 billion, 4.

02 trillion, combined with the company’s rapid growth in the future, give dynamic PE 30-35 times in 2019, with a reasonable value range of 15 in six months.

90-18.

55 yuan, given a “preliminary market” rating.

risk warning.

The 佛山桑拿网 advancement of Internet + government affairs fell short of expectations, and bad debts and cash flow of receivables deteriorated.