Company events: the company released its 2021 annual report: in 2021, the company achieved a revenue of 513 million yuan, a year-on-year increase of 20.10%; The net profit attributable to the parent company was 883019 million yuan, a year-on-year increase of 12.71%.
In the financial digital intelligence field for nearly 20 years, Q4 revenue increased by 17.66% year-on-year in 2021: UFIDA finance is a provider of digital intelligence products and solutions for various segments of the financial industry, mainly providing products and technical services for enterprises in various segments of the financial industry. The company’s revenue mainly comes from the digital intelligence management system of the financial industry and the digital intelligence business system of the financial industry. Its customers include banking, securities, futures, funds, insurance, trust, leasing, consumer finance and many other industries. According to the 2021 annual report released by the company, the company’s revenue scale and profit scale increased year-on-year in 2021. In terms of a single quarter, the revenue of 2021q4 company was 2574141 million yuan, a year-on-year increase of 17.66% and a month on month increase of 149.23%; The net profit attributable to the parent company was 798971 million yuan, with a year-on-year increase of 8.43% and a month on month increase of 201670%. All businesses of the company maintained steady growth in 2021. Among them, the revenue of the leasing industry increased faster than that of the same period of the previous year, mainly due to the obvious transformation of investment results in the early stage of product research and development and the smooth development of new and old customers. On the whole, the seasonal fluctuation of the company’s business is obvious, and the proportion of revenue and profit in the fourth quarter is relatively high.
Digital intelligence management + business system business go hand in hand, and the six business divisions serve more than 1000 financial customers: the core products of UFIDA finance mainly include digital intelligence management system of financial industry and digital intelligence business system of financial industry.
Among them, the financial industry digital intelligence management system mainly includes financial accounting and sharing series, management accounting series, tax management series, human capital management series, digital intelligence asset management series and other products; The digital intelligence business system of the financial industry mainly includes transaction level general ledger series, asset liability and pricing series, accounting and valuation series, Pension Finance Series, leasing series, digital procurement cloud series and other products. The company is the first batch of enterprises engaged in the development and service of financial digital intelligence software in China. It has accumulated rich technical reserves and industry experience. Through the establishment of six major business departments, it covers various financial sub industries and has served more than 1000 financial customers. In addition to serving a large number of customers, the company has also reached in-depth cooperative relations with many industry head institutions, such as China Development Bank, Export Import Bank of China, China Construction Bank Corporation(601939) Many bank customers represented by Bank Of Communications Co.Ltd(601328) , China Citic Bank Corporation Limited(601998) Gf Securities Co.Ltd(000776) , Haitong Securities Company Limited(600837) , Guosen Securities Co.Ltd(002736) , Guotai Junan Securities Co.Ltd(601211) securities, Everbright Securities Company Limited(601788) and many other well-known securities companies in China; Many insurance customers represented by Guoshou pension, Ping’an pension, Taiping pension and Taikang Insurance Group.
The three platforms of technology + data + development created core technology advantages, and the cloud business revenue increased by 69.69% year-on-year in 2021:
The company has established its own technical advantages based on three product R & D platforms: technology platform, data platform and development platform. Among them, the technology platform is based on cloud native technology to meet the needs of financial enterprises such as rapid delivery, application micro service and operation and maintenance automation, and help financial enterprises realize digital transformation; The data center is based on the connection and collection of mainstream data sources and the integration of batch flow data collection and integration, so as to realize the automation of data operation and maintenance of financial enterprises and the capitalization of data operation; The development platform provides Internet middleware, front-end development framework, application development framework and integrated development environment for financial enterprises to build high concurrency, high performance, high availability and safe applications. At present, most of the prototype products newly developed by the company have adopted cloud native technology. Compared with traditional software prototype products, this type of products have a shorter implementation time and lower customer development cost. In 2021, the company’s cloud business revenue reached 2349651 million yuan, an increase of 69.69% over the same period last year. In the strategic opportunity of financial information innovation, the company won many ten million level major projects, and the overall business promotion effect is good.
Investment suggestion: UFIDA finance, as a professional provider of digital intelligence products and solutions for all segments of the financial industry, has significant advantages in service quality, customer resources, R & D technology advantages, market position and so on. The company takes “strengthening products + occupying the market + improving ability” as the company’s annual key task in the period of strategic opportunities for digital intelligence and financial information innovation in the financial industry. According to the requirements of the company’s performance assessment in the equity incentive plan, the net profit attributable to the parent company after deducting non profits in 2022 should reach at least 91.53 million yuan. The current market value of the non PE company is RMB 32.2 billion after deducting 2022.9 billion In addition, the company has entered the second round of inquiry response link of listing on the Beijing stock exchange. The company and relevant intermediaries are actively organizing to reply to the examination inquiry letter and suggest attention.
Risk tips: price fluctuation risk, industry competition risk, exchange rate change risk and policy risk
