\u3000\u3 Jointo Energy Investment Co.Ltd.Hebei(000600) 570 Hundsun Technologies Inc(600570) )
China’s financial it leader maintained the “buy” rating
The company issued a briefing on its operation in 2021, which is expected to achieve a revenue of 5.497 billion yuan and a net profit of 947 million yuan. As a financial it leader, the company has significant advantages in technology and customers, complete product lines and a stable position in the industry. The company continues to release repurchase plans to demonstrate growth confidence. With customer expansion and new product promotion, it is expected to open up growth space. We keep the profit forecast unchanged. It is estimated that the net profit attributable to the parent company from 2021 to 2023 will be RMB 1.469 billion, RMB 1.890 billion and RMB 2.391 billion respectively, and the EPS will be RMB 1.00, 1.29 and 1.64 per share. The PE corresponding to the current share price from 2021 to 2023 will be 45.2, 35.1 and 27.7 times, maintaining the “buy” rating.
Event: the company issued a briefing on its operation in 2021
According to the preliminary calculation of the company’s financial department, it is expected that in 2021, the revenue will be about 5.497 billion yuan, a year-on-year increase of 31.73%, slightly higher than the performance forecast; The net profit deducted from non parent company was 947 million yuan, with a year-on-year increase of 29.04%.
Financial innovation drives development, and securities it leaders have great prospects
The securities industry continues to innovate and develop. Market reforms such as the comprehensive registration system, the Beijing stock exchange and the merger of the main board and the small and medium-sized board have brought new IT system construction needs. At the same time, industry information innovation has entered the accelerated promotion period. According to the statistics of zero one think tank, the implementation rate in the financial field was 29.55% by the end of 2021. In addition to OA office system, securities companies have started the adaptation of core trading system, business system and other aspects. As China’s financial it leader, the company has significant technical and customer advantages, complete product lines and a solid industry position. In the future, with the expansion of insurance, private placement and other markets and o45 and UF3 The promotion of new products such as 0 is expected to continue to open up growth space.
Continue to issue repurchase plans to demonstrate growth confidence
In February 2022, the company issued a repurchase plan and planned to use its own funds to repurchase the company’s shares in the form of centralized bidding. The repurchased shares will be used for equity incentive or employee stock ownership plan. The repurchase price of the company is no more than 80 yuan / share, and the repurchase amount is no less than 100 million yuan and no more than 150 million yuan. According to the upper limit of the repurchase price, it is estimated that 1251875000 shares can be repurchased. The company has carried out share repurchase from December 2020 to March 2021, with a capital of 800 million yuan (about 8.4 million shares). The continuous issuance of repurchase plans demonstrates the company’s growth confidence. The introduction of incentive plans in the future is expected to fully mobilize the enthusiasm of the company’s middle and senior managers and core backbone personnel and help the company’s long-term development.
Risk warning: product promotion is not as expected; Securities it investment is less than expected
