From the start of the comprehensive and deep reform of the new third board to the "birth in the sky" of the Beijing stock exchange, the policy dividends have been continuously released, and some delisted new third board enterprises have applied for listing again. Boda software (873636, NQ) is one of them.
The company was first listed in 2015, and its revenue growth rate exceeded 30% for four consecutive years. In December 2019, "in order to plan for future listing", Boda software took the initiative to apply for termination of listing. Shortly after the establishment of the Beijing stock exchange, Boda software was re listed on the new third board.
In January this year, Boda software issued additional shares for the first time since it was re listed, and the amount raised exceeded the total amount raised in the previous three additional shares, which was mainly used to pay employees' salaries. The reporter of daily economic news noted that Boda software is recruiting a large number of employees on various recruitment platforms. Among them, the recruitment demand in boss direct recruitment alone involves 152 posts, mainly technology and sales.
University customers account for a relatively high proportion, and they are listed again or to strive for listing on the Beijing stock exchange
Boda software was founded in 2000. Generally speaking, its business is to build and operate content platforms for customers, including wechat microblog and other content editing and mass sending management systems, government service websites, online appointment diagnosis and treatment service websites, etc.
From the perspective of customer attribute composition, Boda software mainly serves colleges and universities. In 2019 and 2020, the revenue of its college customers accounted for 81.10% and 78.06%. The customer coverage rate of colleges and universities is nearly 40%, of which the coverage rate of "double first-class" colleges and universities is about 80%.
Customer characteristics also affect the financial indicators of Boda software - on December 31, 2019 and December 31, 2020, the balance of accounts receivable of the company was 42.725 million yuan and 46.2519 million yuan respectively, and the balance of accounts receivable at the end of the period accounted for 46.05% and 45.49% of the current operating revenue. Boda software said that this is mainly due to the characteristics of winter and summer vacation in Colleges and universities. The company's revenue recognition has a strong seasonality, and about 70% of the revenue is recognized in the fourth quarter.
In recent years, Boda software began to expand to the government and hospitals, and the revenue proportion of government, enterprise and health customers showed an upward trend. In the first three quarters of 2021, government and enterprise customers accounted for 19.26% of revenue and health customers accounted for 13.85%.
Image source: screenshot of public transfer instruction
For the previously terminated listing, Boda software said that in order to stabilize the equity structure and plan future listing, it chose to delist from the share transfer system because the selection layer and relevant transfer system had not been established at that time.
It is not difficult to see that Boda software returns to the new third board this time, and the goal is the Beijing stock exchange. After entering the basic layer of the new third board, Boda software may be further "upgraded" to an innovative company, which is expected to be listed on the Beijing stock exchange.
From the perspective of financial indicators, Boda software also has certain potential. In 2019 and 2020, the net profit attributable to the parent company of Boda software was 15.96 million yuan and 2011 million yuan respectively, and the net profit after deduction was 13.81 million yuan and 15.98 million yuan respectively. The weighted average return on net assets was higher than 20%, which was close to "the net profit in the last two years was not lower than 15 million yuan and the weighted average return on net assets was not lower than 8% as required by the financial standard I of Beijing stock exchange".
After re listing, the first fixed increase is to pay employees' salaries, and a large number of employees are being recruited
On January 5, Boda software released the fixed increase plan, which plans to raise RMB 19.9629 million to supplement the working capital. Among them, 76% of the raised funds are intended to be used to pay employee salaries and 20% for supplier procurement expenses.
Why pay 15 million yuan? Boda software said that with the continuous expansion of the company's business scale and diversification of business forms, it is necessary to constantly supplement excellent R & D personnel, technicians and sales personnel to build a talent echelon to maintain long-term development. In addition, based on the company's future personnel recruitment plan and the expectation of salary improvement, employee compensation will increase significantly.
According to the public transfer instructions, Boda software has a total of 350 employees, mainly sales and R & D personnel, including 140 sales personnel and 95 R & D personnel. In 2020, the scale of sales personnel and R & D personnel of Boda software will be expanded. Specifically, the average monthly number of salespeople increased from 106 in 2019 to 136; The average monthly number of R & D personnel increased from 73 in 2019 to 86.
In this case, the salary of employees also rises. In 2020, the employee compensation expenses of Boda software increased by 8.37 million yuan, an increase of 53.41%, compared with 2019. In 2020, the per capita monthly salary of sales increased by 20% year-on-year, but the per capita monthly salary of R & D decreased by 7% year-on-year.
The reporter noted that Boda software is still recruiting a large number of employees on various recruitment platforms. As of January 14, the recruitment demand of Boda software in boss direct recruitment involves 152 positions, 71 positions in Liepin and 43 positions in Zhilian, all of which are mainly technology and sales.
Image source: screenshot of boss direct employment app
