Piesat Information Technology Co.Ltd(688066) (688066)
The leading enterprise in remote sensing and Beidou navigation satellite application services maintained the "buy" rating
We maintain the forecast that the company's net profit attributable to the parent company from 2021 to 2023 will be RMB 192, 272 and 379 million, and EPS will be RMB 104, 1.48 and 2.06 per share. The current share price corresponds to 69.6, 49.0 and 35.2 times of PE from 2021 to 2023. As a leader in the field of satellite application services, the company will continue to grow with high prospects and maintain the "buy in" rating.
Signed 279 million single source large orders to lay the foundation for subsequent performance growth
The company announced that it signed a single source procurement contract with a unit, with a contract amount of about 279 million yuan, and the performance cycle is from the date of signing the contract to December 31, 2023 (about 2 years). This single source large order is a major breakthrough of the company in special fields. If the contract is successfully performed, it is expected to have a positive impact on the company's performance.
The general survey of emergency risks and disasters has been implemented rapidly, and the company occupies a leading market position
In the first half of 2021, the bidding for 122 pilot counties of national emergency risk and disaster census has been basically completed. The company has participated in 32 pilot counties, accounting for about 26%. At the press conference held by the Information Office of the State Council on May 18, the relevant person in charge of the national disaster reduction Commission said that the first national disaster risk survey would be completed by the end of 2022. In the comprehensive national census, the company is expected to continue to gain a good market share with solid product strength, rich industry experience, first mover advantage and marketing network.
Urban remote sensing cloud services are accelerating the implementation and promoting model innovation
By combining independent cloud products such as mountain fire point monitoring, air pollution monitoring, planting planning, pest control guidance and other data support and management services with the requirements of urban comprehensive management, the company launched a comprehensive and all element urban remote sensing cloud platform to maintain the original retail and single element cloud product sales. At the same time, it provides wholesale and integrated packaged cloud service products for local governments. The company's urban remote sensing cloud platform has successively signed overall cooperation framework intention agreements with Hebi, Jiaxing Nanhu, Huanggang and Foshan governments.
Risk warning: the risk of tight government expenditure; Market competition intensifies risks.
