\u3000\u30 Zhongyan Technology Co.Ltd(003001) 66 Business-Intelligence Of Oriental Nations Corporation Ltd(300166) )
Event: the company released its 2021 annual report. In 2021, it realized an operating revenue of 2.47 billion yuan, a year-on-year increase of 18.25%; The net profit attributable to the parent company was 302 million yuan, an increase of 0.04% year-on-year; The net profit attributable to the parent company after non deduction was 266 million yuan, a year-on-year increase of 16.14%.
The company released the first quarterly report of 2022, realizing an operating revenue of 470 million yuan, an increase of 10.15% year-on-year; The net profit attributable to the parent company was 41 million yuan, a year-on-year decrease of 36.00%; The net profit attributable to the parent company after deduction was 29 million yuan, an increase of 3.46% year-on-year.
All businesses have developed steadily. By industry, the annual income is as follows:
The revenue of telecom business was 1.111 billion yuan, a year-on-year increase of 19.39%;
The financial business realized a revenue of 561 million yuan, an increase of 13.91% year-on-year;
Industrial business realized a revenue of 420 million yuan, an increase of 19.59% year-on-year;
The revenue from government business was 274 million yuan, a year-on-year increase of 57.96%;
Other businesses realized a revenue of 103 million yuan, a year-on-year decrease of 26.65%.
The gross profit margin of the company’s sales in 2021 was 40.36%, a decrease of 6.12 percentage points compared with the same period last year; The net profit margin on sales was 12.42%, down 2.57 percentage points from the same period last year.
Deeply cultivate distributed database and cloud computing services. Cirrodata, a distributed cloud database independently developed by the company, continues to iteratively optimize product solutions, actively participates in the information and innovation industry ecology, and has been applied in many banks. The company has the ability to build industry public cloud, enterprise private cloud and hybrid cloud, supports bare metal server (BMS), provides exclusive cloud GPU physical server, and supports arm structure CPU server.
Continue to promote industrial software business. Cloudiip is an industrial software platform that the company has been focusing on developing and investing, and has been in the forefront of national industrial Internet dual cross platforms for many years. In 2021, the company achieved new breakthroughs in new energy, electric power, thermal power, cement, coal, heating and other industries.
Investment suggestion: the company is a leading enterprise of industrial software in China. It is estimated that the EPS of 22-24 years will be 0.32, 0.40 and 0.47 yuan respectively, maintaining the “buy” rating.
Risk warning: the operator’s expenditure is less than expected; Industrial software is not as expected; Industry competition intensifies.
