Hundsun Technologies Inc(600570) (600570)
Event: official account of the company officially launched in December 20, 2021. The O45 is formally launched on the Warburg foundation.
The strategic product o45 was launched in the first fund, opening a new era of investment research integration. 1) This is the first launch of o45 in the fund industry, realizing: covering domestic and foreign transaction varieties, opening up domestic and foreign real-time risk control systems, a unified platform for instruction, transaction, risk control and clearing of domestic and foreign assets, and building a more open ecosystem. 2) O45 supports all products and businesses, covers domestic and foreign transaction varieties, helps Huabao fund get through the domestic and foreign real-time risk control system, and is an asset management platform integrating instruction, transaction, risk control and liquidation of assets at home and abroad. The creation of o45 also introduces the experience of finastra, the world’s leading financial technology company, in investment decision-making business, to help investment research management realize the leap from how to buy to what to buy and then to auto buy faster. The powerful technology core allows day trading to accommodate tens of millions of transactions. Real time risk control technology can complete the trading and risk control judgment of a 300 stock basket in one second.
In recent years, the asset management industry has ushered in great development, and the demand for the construction of underlying it systems has increased sharply. 1) By the end of June 2021, the scale of existing asset management products of Chinese financial institutions had totaled 92.6 trillion yuan, of which public funds accounted for 27%, ranking second. The launch of the new regulations on asset management in 2018 not only promoted the return of the asset management industry to its origin, but also brought space for fund companies to fully demonstrate their investment and research ability in the same stage competition with banks and securities companies. 2) At the same time, the launch of the science and innovation board, the landing of the investment adviser pilot, the popularity of ETF, global investment and the rise of ESG investment are constantly expanding the trading market and trading varieties, giving a greater stage for public funds. This brings great challenges to the system of fund companies. In the past, the construction of the fund company’s application architecture basically started from supporting a single category, and the electronization and digitization also gradually developed from the background to the front.
The leading position of financial it in the whole line has benefited the core of the capital market reform and innovation environment. China’s capital market has entered a stage of comprehensive and steady development. For example, foreign banks, securities companies Restrictions on the business scope of financial institutions such as fund management companies (for example, Goldman Sachs, Morgan Stanley and Credit Suisse have successively won the controlling stake in joint venture securities companies), the science and innovation board has been successfully implemented, the gem registration system has been launched, new asset management regulations have been continuously implemented, bank financial management subsidiaries have been established one after another, public offering investment consulting business pilot, etc., especially the establishment announced by the Beijing stock exchange this year. The company has the first market share in many subdivided industries, and the capital market innovation policy is expected to be launched Form a comprehensive and continuous pull for each business line.
Maintain the “buy” rating. According to key assumptions, it is estimated that the operating revenue from 2021 to 2023 will be 5.55 billion, 6.632 billion and 7.839 billion respectively, and the net profit attributable to the parent company will be 1.842 billion, 2.377 billion and 2.926 billion respectively. Maintain the “buy” rating.
Risk warning: the benefit of the policy is less than expected; The progress of financial cloud is less than expected; The capital market scene is less generous than expected
