Securities code: Montnets Cloud Technology Group Co.Ltd(002123) securities abbreviation: Montnets Cloud Technology Group Co.Ltd(002123) Montnets Cloud Technology Group Co.Ltd(002123) investor relations activity record No.: 2022-4-1
□ specific object research \uf0a3 analyst meeting
Investor related □ media interview \uf0a3 performance briefing
Activity □ press conference □ Roadshow
□ site visit
□ other teleconferences
Participating units: Ruiyuan Fund Management Co., Ltd. Fu Pengbo, Qin Wei, Yang Weizhou, Zhu Ying and Chen Yeyuan; CITIC name and Wang Hao of PICC; Zheng Wei of CITIC Prudential; Wanjia fund Qianhai; Huisheng fund sun Qing; Name of the first member of harmonious remittance; Guohua life insurance an Zichao; Carefully know assets Zhang Haitao; Fun time assets sun Yin; Minsheng securities Guo Xinyu, Yang Litian, Zhang Ye, Cao Yabo Guolian Securities Co.Ltd(601456) Li Lang;
Time: 10:00 ~ 12:00, April 1, 2022
Place online meeting
Receptionist of Mr. Yu Wensheng, chairman of Montnets Cloud Technology Group Co.Ltd(002123) listed company
Name: Mr. Li juchun Montnets Cloud Technology Group Co.Ltd(002123) vice president and chief financial officer
Montnets Cloud Technology Group Co.Ltd(002123) vice president and Secretary of the board of directors Ms. Zhu Wenwen
1、 Revised description of operation and performance forecast in 2021
1. Main business development:
A2p Fuxin: the business volume of 5g rich media messages in 2021 increased to the same period in 2020
The investor is closed by 300%, and the gross profit will increase to 200% of the main activity in the same period in 2020 after deducting a certain amount of customer trial cost; The business volume in the first quarter of 2022 increased by 159.92% year-on-year compared with the first quarter of 2021, and increased by 28.72% month on month compared with the fourth quarter of 2021.
Shao
A2p short message: in 2021, the sending volume of A2p short message continues to maintain a stable growth trend.
International communication business: in 2021, dreamnet's international business has made gratifying achievements. Our international SMS has covered more than 1200 connections in more than 225 countries around the world. It has the ability of intelligent routing scheduling, channel quality monitoring and multi currency flexible billing. In 2021, the revenue of international cloud communication business increased to 500% in the same period last year, and the gross profit increased to 3200% in the same period last year.
2. The main reasons for impairment provision are as follows:
1) The main reason for the provision of goodwill is the decline in the gross profit margin of traditional A2p SMS. The volume of A2p SMS business in 2021 increased compared with that in 2020. However, the decline in gross profit margin led to the decline in the total gross profit, while the fast-growing Fuxin business temporarily accounted for a small proportion in the total business, resulting in the year-on-year decline in the net profit of Shenzhen mengwang company, while the low gross profit margin of SMS in the first quarter has not been improved, Based on the principle of financial audit prudence, the goodwill of RMB 260.12 million was withdrawn.
2) In the fourth quarter of 2021, the company's sales performance increased rapidly, and the operating revenue in the fourth quarter increased by more than 30% year-on-year. Therefore, the corresponding balance of accounts receivable increased by more than 400 million yuan year-on-year at the end of 2021, resulting in a significant increase in the amount of credit impairment loss in 2021 compared with 2020. 3) The company sold the assets and equity transfer funds of Liaoning Rongxin Xingye Power Technology Co., Ltd. in 2019 in the form of installment collection. By the end of 2021, the balance aging of the assets and equity transfer funds before the collection period agreed in the transfer agreement has increased, resulting in an increase in the provision for credit impairment loss of 13.7 million yuan in the current period.
4) During 2020, the company disposed of most financial assets, increasing the investment income by about 57.8 million yuan, while the investment income from the disposal of financial assets in 2021 was only 1.52 million yuan, resulting in
In 2021, the gains and losses from changes in fair value recognized for trading financial assets held and the investment income recognized from the disposal of financial assets were only 7.48 million yuan, which was significantly lower than the income recognized in 2020 of 27.82 million yuan.
3. Opinions on this loss
In the history of the company, there is no operating loss. This is the pain in our transformation and upgrading. Our new business has formed a certain ability, has a good development momentum, and has been greatly improved in many aspects. The company regards 5g news as the most important and long-term task for future development. In the next five years, we will promote all parties in the industrial chain to strive for the business scale of Tus-Design Group Co.Ltd(300500) billion 5g rich media in the industry. At the same time, the old A2p SMS business has limited space to explore from the second quarter, and may pick up.
In short, our plan is to deepen in China and expand in the world, and unswervingly do 5g news in the new era.
2、 Q & a session
Q: What is the basic form of SMS applet?
A: There are two forms: one is video short message, which is upgraded on the MMS protocol, but the capacity is low and has no interactive ability; One is an innovative project, which combines the channel of operators and the ability of mobile phone operators to form rich media message communication, that is, the short message applet launched by dreamnet. It not only has a large capacity of 500g, but also has interactive and powerful display ability. Our SMS applet with China Mobile is our cooperation in this field.
Q: What is the development trend of international cloud communication business?
A: Company structure: we set up dreamnet international communication, and a group of experts joined dreamnet, which began to operate in July last year. Business development: at present, it is developing rapidly, and the income has increased from only hundreds of thousands in the first month to 6-7 million a month. Strategic significance: first, help Chinese enterprises go to sea. At present, many large customers have been connected, and the company has built a large international cloud communication platform; Second, layout local operations. Among them, Fuxin platform has cooperated with many operators and large customers in Hong Kong, and has also cooperated in Indonesia, Australia and other places, and has achieved certain results.
Q: In terms of traditional business, the supply prices of some operators still have an upward trend. Can it be changed?
A: Cloud SMS business is a mature business with many players. At the same time, there are epidemic and industry reasons. Therefore, the gross profit margin has decreased for several consecutive years, but the sending volume and income continue to rise, maintaining the overall upward trend of the business.
In the first quarter of 2022, due to some reasons in the industry, the cost increased, coupled with the epidemic, and the gross profit margin decreased to a certain extent. However, according to the judgment of the industry, the space for upstream suppliers to raise prices is limited. Because the price increase leads to the low growth of the total amount of SMS in the industry, the upstream suppliers may take more methods in order to increase their income, and they may not only rely on the price increase, because the overall income growth is the most important.
Therefore, the trend of gross profit margin remains cautiously optimistic. Before 19 years, the business volume of the industry was double-digit growth (volume growth) every year. After the price increase, the growth slowed down. Therefore, we believe that there is limited space to go up, and we do not rule out going down.
Q: Does 5g news bring changes to the business model?
A: We started to distribute 5g news a few years ago. At present, it is also growing rapidly, integrating from platform side to service side. Fuxin has made achievements, and the SMS applet is also making continuous efforts; We are not only expanding ourselves, but also helping operators build platforms. Not only the operation capability, but also the mobile phone business, front-end, networking, scheme and other capabilities have certain barriers. 5g rich media news will enter the industry more deeply. Rich media news has strong technical requirements. In recent years, we have invested 400500 million R & D expenses, enabling operators, enabling enterprises and so on.
5g message is different from traditional SMS: platform capability and charging form may change. The threshold of traditional short message is low, as long as you access the channel. 5g news is a comprehensive capability and forms an ecosystem. We hope to do deeper and wider, and provide the ability of platform + services. In the face of friends and operators, more output is the platform capability. The charging form may also change, and the platform may also increase the gross profit margin.
Platform: we build our own cloud communication platform and help operators build the platform.
Q: What is the progress and trend of 5g news industry? A: Rapid progress: video messaging has been fully covered, SMS applet has covered 400 million users, operators are also in the stage of comprehensive promotion, and we have begun to apply it in the government and hospitals. It is expected to cover 600700 million users by the end of the year, corresponding to 60-70% of mobile phone users. Based on the cooperation with mobile phone manufacturers, continuous R & D investment and polishing products and services, we believe that the business development prospect is very certain.
Q: Will 5g news have an impact on the benefit distribution of the industrial chain
A: Will not affect. First, all interested parties are benefit sharing parties. At the same time, ecologically speaking, they can also build a new ecology and complement the existing ecology. Therefore, for mobile phone manufacturers, the impact will not be too great, but more benefit. Second, 5g messages bring more interaction and convenience, which is conducive to the awakening of enterprises or some apps. Third, new rich media messages replace some apps, which is also proved by history. Therefore, this replacement is natural and win-win, rather than damage to the interests of the industrial chain.
Q: How about subsequent impairment?
A: Overall business: Although the gross rate of traditional short message business has decreased, the business volume and income still maintain a relatively good development scale. At the same time, the new business is still developing rapidly. After the scale goes up, the proportion of new business income and gross profit has been better improved, so the future prospect is also very optimistic.
Overall Goodwill: 1) reasons for the impairment of Q1 this year: we originally judged that it would not be impaired, but we did not expect the epidemic in the first quarter and other reasons. At the same time, some operators are still raising prices, resulting in the continuous decline of the gross profit margin of traditional business. Due to the principle of prudence, we have accrued the impairment. 2) The development of new business is good, and the proportion increases to reduce the possibility of impairment: our new business development trend is relatively good. The income and gross profit of new business are very good, and the proportion of new business in the total income and gross profit continues to increase. Therefore, we should see not only the traditional business, but also the future of 5g news. At the same time, it is not ruled out that the gross profit margin of traditional businesses may rise.
Therefore, the possibility of continued impairment this year and next year is still relatively small.
In the first quarter of last year, the profit of fuxintiao increased rapidly by 1.2 billion in the same period. In the first quarter of 2023, the profit of fuxintiao increased rapidly. February was the lowest, and March was profitable. If this situation continues, it will be profitable.
Q: Has the equity incentive target changed? Prospect of new business proportion?
A: Our goal is to strive to reach 5 billion income, which we think can be achieved
of Proportion of new business: after the annual revenue of 5 billion, the traditional short message service on the revenue side will contribute about 3-3.5 billion / year, and the rest will depend on the contribution of new business. On the profit side, the gross profit of new business may exceed that of old business.
Q: Number of target users and frequency of single user usage?
A: Follow industry norms and legal rules: we will not help enterprise customers to go blind unless based on the needs of government public utilities.
The usage of single customers may be increasing: at present, 5g news is still in the stage of trial commercial use. They will buy it after they think the effect is good, and customers are also increasing the purchase volume. The number of single customers ranges from hundreds of thousands to millions every month.
Current situation: recognized by many large customers. At present, some large Internet manufacturers and enterprises such as Huawei have begun to cooperate with us, and many customers such as large banks are expected to continue to increase.
Q: In cooperation with operators, what progress have we made in small programs with China Unicom and telecom? What is the intention of mobile to promote our applet?
A: Operators of this project, including foreign operators, are more interested, and cooperation and promotion are also actively promoted.
Annex list none (if any)
Date: April 1, 2022
