On the evening of April 18, Servyou Software Group Co.Ltd(603171) ( Servyou Software Group Co.Ltd(603171) ) disclosed the first annual performance report after listing. The report shows that in 2021, the company achieved an operating revenue of 1.605 billion yuan, a year-on-year increase of 4.1%, and realized a net profit attributable to shareholders of listed companies of 231 million yuan and a basic earnings per share of 0.60 yuan; It is proposed to distribute RMB 3.00 (including tax) in October, and the total cash dividend is RMB 122 million (including tax). The cash dividend of the company accounts for 52.76% of the net profit attributable to the shareholders of the listed company in 2021.
Servyou Software Group Co.Ltd(603171) said that in 2021, on the one hand, the company actively participated in the cloud and intelligent process of the tax system at the g-end to further consolidate its position in the industry; On the other hand, we will deeply implement the strategy of customer stratification and value classification at the b-end, focus on high-value customers, and continuously optimize the customer group structure and revenue quality, forming the cornerstone of steady performance growth.
b-end SaaS subscription service high user stickiness focus on high-value services
It is understood that under the tide of digital economy, the digital construction of Finance and taxation of Chinese enterprises has gradually developed from the original cost reduction and efficiency improvement to the integration of industry finance and taxation management, SaaS, intelligence and digitization. As a leading SaaS cloud platform service provider of Finance and taxation in China, Servyou Software Group Co.Ltd(603171) with the brand of “100 million enterprises win”, in the field of SaaS subscription service for end B, focusing on the management needs of Finance and taxation and human resources of three major customer groups, including finance and taxation agents, small and medium-sized enterprises and enterprise groups, and using big data, cloud computing, artificial intelligence and other technologies to provide enterprises with SaaS subscription services integrating “industry, finance and taxation” and “salary society”, so as to realize the healthy growth of enterprises.
During the reporting period, Servyou Software Group Co.Ltd(603171) b terminal achieved a revenue of 865 million yuan, an increase of 4.9% over the same period last year. Among them, the development of SaaS service model for small and medium-sized enterprise customer group has been mature, with a renewal rate of 85%. The customer group users are stable and sticky. It is worth noting that in 2021, the number of paying users of this customer group was 630000, a slight decrease year-on-year Servyou Software Group Co.Ltd(603171) said that it was mainly because the company implemented the layered operation strategy, drained some low-value customers to the financial and tax agency customer group, and focused on high-value customers to improve ARPU value. At present, the operation strategy of high-value customers of this customer group has achieved initial results, and the number of high-cost customers has increased by 69% year-on-year. In the future, the company will also actively explore the digital operation of enabling growing small enterprises and create a “cloud finance and taxation” comprehensive service platform for the integration of Finance and taxation in the digital industry.
In terms of SaaS service business for fiscal and tax agents, Servyou Software Group Co.Ltd(603171) said that the company takes expanding the user scale as the main goal, empowers the intermediary agency to upgrade its business, builds an industrial ecosystem, and further improves its market influence and promotes regional market development through large-scale Wuxi Online Offline Communication Information Technology Co.Ltd(300959) marketing activities in market operation. In 2021, the revenue of this customer group was 313 million yuan, with a year-on-year increase of 12.4%, and the institutional retention rate reached 84%. During the reporting period, the company rapidly expanded the user scale for the customer group, and the number of paying users of the customer group increased by 53% year-on-year.
innovate SaaS business, promote and create a new performance growth curve
In 2021, Servyou Software Group Co.Ltd(603171) actively innovated products, explored new tracks and looked for new performance growth points. In terms of innovative SaaS business, the company takes PTS (salary tax and social security SaaS), GTS (group tax sharing SaaS) and ETS (flexible employment tax SaaS) as the starting point, human resources innovation management with individual tax and social security as the core and innovation management of new economy (such as live broadcast, rider, etc.) as the content, and B + C as the feature to provide value for enterprises and individuals in the innovation track.
According to the annual report, the total revenue of the company’s innovative SaaS business during the reporting period was 93 million yuan, an increase of 16.87% over the same period last year, showing a large growth trend, and the number of users also increased by 33.33% over the same period last year. At the same time, the value of the company’s PTS products in individual income tax has been recognized by customers, continued to explore the services of social security projects, and completed large-scale expansion and promotion in many characteristic industries such as banks, groups, human resources institutions and software companies; GTS products have completed the value verification of the first batch of customers; ETS products have completed the closed-loop verification of park business in Sichuan, Jiangxi and Jiangsu parks. With the scale growth of the new economy and the increasingly mature supervision, Servyou Software Group Co.Ltd(603171) will continue to sink the market, constantly innovate products, expand the scale of users and create a new performance growth curve.
According to the research of the white paper on China’s fiscal and taxation SaaS industry released by insight consulting, as of the end of 2020, Servyou Software Group Co.Ltd(603171) ranked first in China’s fiscal and taxation SaaS service market in terms of operating revenue and number of users. In addition, in 2021, the company has accumulated nearly 6 million enterprise users in the tax related field, of which the number of paying users has exceeded 3.5 million. The huge customer group has established a leading position in the market for the extension and development of Servyou Software Group Co.Ltd(603171) fiscal and tax services and related services, and constitutes one of the company’s core competitive advantages.
to g-end business precipitates the ability of digital government products, and the industry leading position is stable
The annual report further disclosed that Servyou Software Group Co.Ltd(603171) is the successful bidder of phase III of Golden Tax in terms of g-end digital development services. It has undertaken the national individual income tax system reform service project and the national leading smart e-tax bureau project. By actively participating in the cloud and intelligent process of the tax system, it has precipitated mature digital government product capabilities and a solid leading position in the industry. According to the data, the company’s to g business achieved a revenue of 737million yuan in 2021, a year-on-year increase of 3.1%.
At the same time, Servyou Software Group Co.Ltd(603171) during the reporting period, the construction of the natural person tax management system entered a comprehensive deepening and extension stage, and gradually formed a natural person e-tax Bureau covering all business links, including expanding the capacity of the natural person account center in the individual income tax app and enabling the golden tax phase IV e-invoice project. In addition, as the first national centralized cloud system for taxation, the company will fully carry out the cloud operation mode according to the operation mode of large-scale Internet system.
In the field of tax big data analysis, which is highly concerned by the market nowadays, Servyou Software Group Co.Ltd(603171) deeply integrates artificial intelligence, machine learning, knowledge atlas and other technologies with business, enables risk identification and tax decision-making analysis, and adheres to the construction and development of the big data platform of the Provincial Bureau, expanding two new projects in Guangxi and xiong’an, and through big data projects in Guangdong, Shanghai and Hunan, Build three standard products of big data resource center, big data asset management platform and big data service platform with “onedata methodology”, and redefine the structure of big data products.
Servyou Software Group Co.Ltd(603171) pointed out in the annual report that in order to enrich the product line and upgrade the operation mode, the company has long focused on technology research and development, continued to increase R & D investment, and developed high-value products through R & D innovation, so as to expand the customer base of small and medium-sized enterprises and high-value customers. Statistics show that the company’s R & D investment in 2021 reached 378 million yuan, an increase of 13.3% over the previous year.
In addition, the annual report disclosed that Servyou Software Group Co.Ltd(603171) has more than 3000 technicians, participated in the formulation of 16 industrial technical standards, and won the national science and Technology Progress Award (second prize) for its “key technologies and applications of tax big data computing and services”.
