\u3000\u3000 Hcr Co.Ltd(688500) (688500)
In the era of big data, data analysis service applications have great prospects.
With the continuous development of a large number of new technologies such as the Internet of things, 5g and algorithm technology, the economy and society has entered the digital era, the amount of data continues to grow at a high speed, and the analysis and application of big data are booming. Around a large amount of data, through technical means such as vertical industry analysis model, we can continuously tap the value of data and provide assistance for all aspects of economy and society such as enterprise business decision-making and social governance. Data and analysis activities have become a core business function. The big data market is expected to maintain a compound annual growth of more than 30%. Relying on core technology reserves, in-depth understanding of vertical industries and experience in a large number of applications, the company’s technology driven business continues to grow.
The company has accumulated a large number of core technologies in the aspects of commercial consumption service data analysis, personalized user analysis and intelligent application, business operation efficiency analysis and application optimization, and ecological and environmental protection data analysis and governance, which adapt to different application scenarios and are recognized by major customers in the industry. Based on a large amount of data, the company provides customers with 1) data-driven analysis services through science and technology and vertical industry professional analysis method models; 2) Industrial data intelligent application solution. Provide perfect data analysis products and solutions according to the needs of customers in different industries.
The company’s customers cover a large number of high-quality customers such as leading enterprises in vertical industries and government departments, and endorsement helps the company’s sustainable development.
With professional technical ability, application landing ability and years of accumulated service experience, the company’s products and services cover many commercial fields and are widely used in many fields such as automobile, TMT, FMCG and medical treatment. It has won a large number of high-quality customers, including international well-known enterprises such as Huawei, Chongqing Changan Automobile Company Limited(000625) , Hubei Taiyue and AstraZeneca, as well as China Mobile, COFCO, FAW Group China tobacco, China RONGTONG group and other large state-owned enterprises. In the field of government and public services, the company’s data analysis and digital application capabilities also provide services to relevant government departments in many places in the fields of smart tourism, ecological environmental protection, agricultural digitization and so on. Extensive industry customer resources will help the company further expand the data analysis service and solution market.
Profit forecast and investment suggestions
The company has been deeply involved in the data analysis industry and has accumulated profound technical reserves and rich experience in vertical industry. With the development of social intelligence and networking, the Internet of things and 5g technology have brought more and more huge data scale. The demand for applying big data analysis technology to production, operation and social efficient management continues to develop, laying the foundation for the company’s long-term growth. It is estimated that the company’s net profit attributable to the parent company in 21-23 years will be RMB 80 million, RMB 110 million and RMB 140 million respectively, corresponding to 26 times and 21 times of P / E ratio in 22-23 years. With reference to the average 22-year average valuation of comparable companies in the same industry, it corresponds to the overall market value of RMB 3.4 billion and RMB 45 / share. It will be rated as “overweight” for the first time.
Risk tips: business development is slower than expected, market competition is higher than expected, technology research and development risk, data compliance use risk, goodwill impairment risk, valuation model risk, etc
