The main contents of this survey are:
Q: Company introduction.
A: The company's main business is to provide management information software products, solutions and technical services for large group enterprises. Mainly engaged in two businesses: first, strategic customer business, mainly using the customer+service business model; The second is the business in the dominant field, which mainly adopts the business model of product+market. At present, the company's strategic customers include China Petroleum, China Petrochemical, China CNOOC, National Pipeline Network and China Construction. We call them 4+ 1 strategic customers. The company regards serving strategic customers for a long time as an important development strategy, and is equipped with a full-time technical team to provide long-term technical services for the headquarters and subordinate companies, and continuously expand the breadth and depth of business. The company has built a number of unified core business systems for these five central enterprise customers, and achieved a high degree of integration and extensive connection with related information systems, supporting long-term stable operation in the environment of large users, large transaction volume and high concurrency. The informatization construction of large group enterprises has the characteristics of long-term, periodicity and continuity. The development strategy of providing long-term services to strategic customers can better meet the needs of customers. It has the characteristics of high business stickiness and high income stability, and can continuously contribute income, profit and cash flow, which is an important foundation for the healthy development of the company. In the practice of serving strategic customers for a long time, the company has accumulated rich business experience and formed a system scheme and software products with certain competitive advantages. Around these advantageous businesses, the company will promote to a broader market and expand customers with product models. At present, the company's dominant business is mainly concentrated in three areas: group fund management, * * * service and XBRL data application. The first is the field of group fund management. The expansion of this business is mainly in two aspects. On the one hand, it is the global fund management business of China enterprises abroad. In this regard, the company has a unique advantage. There are many large group customers such as China Petrochemical, State Grid, China General Nuclear Power, China Huaneng, China Railway Construction, China Tiegong, Shanghai Automotive and Zijin Mining, all of which are overseas fund customers of the company. On the other hand, it is the centralized management of domestic funds. The company has established a centralized fund management system for a number of central enterprises and large group enterprises, with customers including China Petroleum, China Petrochemical, China Offshore Oil, National Pipeline Network, China Construction, China General Technology, AVIC Group and Xiaomi. In June 5438 +2022 10, the State-owned Assets Supervision and Administration Commission (SASAC) issued the Opinions on Promoting Central Enterprises to Accelerate the Construction of the Treasury System and Further Strengthen Fund Management, requiring central enterprises to basically complete the construction of the treasury system in 2022 and 2023. To this end, the company also specially organized a sales team, a product team and an implementation team to seize the opportunity to expand the customer base. The second is * * * access services. The business customers are mainly concentrated in the real estate industry and large group enterprises, and a number of head customers have been expanded, such as Longhu Real Estate, Wanda Group, New Hope, Sunac, Qingdao Port, Baoneng Group and Sinochem International. The third is XBRL data application. The company started tracking this technology earlier, and its customers are mainly in the field of finance and insurance, including 100 insurance companies and the New Third Board. Its main business and software products include the second generation solvency system and insurance company risk management system. At present, the company is also actively exploring the business for the financial insurance industry and regulatory agencies, further expanding the data-driven business, and striving to increase the income scale of the financial insurance industry. The company's advantageous business is also mainly oriented to large group enterprises, and it is delivered in a product way, which has a large market space and is an important growth point of the company's performance. The company's main customers are large group enterprises, and the income is confirmed by the completion acceptance method. The seasonal characteristics of the company's operation are very obvious, and the main income is concentrated in the second half of the year or even the fourth quarter. At the same time, the company continues to increase investment in project resources and product research and development, so the company's performance will show seasonal fluctuations.
Q: How do you view the market scale of the state-owned enterprise's treasury system construction and the advantages of the company in the treasury system construction?
A: It is estimated that the market of the national treasury system in the next two years should be large and sustainable. From the analysis of the company's practical experience, the construction of treasurer system is of great significance for group enterprises to strengthen fund management and improve the efficiency of fund operation, and customers will generally continue to invest. In terms of capital system construction, the company has many years of successful experience in large enterprises. In view of the market demand for the treasury system construction of central enterprises in the next two years, the company has organized teams to strengthen their strength and strive for more opportunities.
Q: What specific work has the company undertaken for China Construction at present, and what is the future business situation?
A: Since 20 18, the company has provided software and services for China Architecture, mainly undertaking three tasks: first, the construction of financial integration system, which has been delivered at present; Second, the construction of a smart security supervision platform has been piloted and is being comprehensively promoted; The third is the construction of basic information technology platform. A unified container cloud platform and OSP cloud development platform have been built, including platforms such as big data and Internet of Things. In the future, in the construction industry, firstly, the software products and information systems provided should be continuously served and improved. Second, actively use the company's existing advantages, strive to enter the digital construction business field of the construction industry, and strive to gradually form the income scale of the company in the construction industry within two to three years, which is basically the same as that of the petroleum and petrochemical industry.
Q: Does the company have any plans and reserves for the expansion of future customers in the construction industry?
A: At present, the company's key work in the construction industry is to do a good job in the delivery of existing projects, form a demonstration effect, and do a good job in the research and development of management information systems in the construction industry. The information market in the construction industry has a large space, and the company will strive to expand more customers with the help of the demonstration effect of leading enterprises.
Q: What impact does the second-generation system upgrade have on the company's XBRL data application business?
A: The insurance industry will pay for the second-generation system upgrade, and it is expected to contribute to the company's XBRL data application business revenue this year. In the XBRL data application business, the company has mature products and in-depth research, and will use these advantages to gain more market opportunities.
Q: In terms of business in advantageous areas, SASAC's requirements for treasury system construction should promote the upgrading demand of the second generation. Does the high productization of these two businesses mean that the number of people does not need to grow too fast?
A: The staff of these two businesses need to increase to a certain extent. The scheme of the treasurer system is mature, but the construction of the treasurer system involves the integration of many existing systems and group companies, which requires a certain amount of personnel input. The company hopes to take this opportunity to expand new strategic customers and seek new service opportunities. XBRL is a standardized product, which can realize product delivery and product realization.
The main business of Pulian Software is to provide management information solutions and comprehensive IT services for large group enterprises.
The third quarterly report of Pulian Software 202/KLOC-0 shows that the company's main income is 2,654,380,300 yuan, a year-on-year increase of 49.94%; The net profit returned to the mother was 42,764,200 yuan, a year-on-year increase of128.98%; Non-net profit was RMB 39,589,500, a year-on-year increase of 1, 566,5438+07%; In the third quarter of 2002/KLOC-0, the company's main revenue in a single quarter was 74,903,700 yuan, up 63.48% year-on-year; The net profit attributable to the mother in a single quarter was11807,300 yuan, up 489.46% year-on-year; The non-net profit deducted in a single quarter was 6.5438+0.0309 million yuan, a year-on-year increase of 780.9%; Debt ratio 1 1.89%, investment income of 605,800 yuan, financial expenses of -565 1000 yuan, and gross profit margin of 49.04%.
In the last 90 days, the stock has been rated by three institutions and bought for three times; The average target price of the organization in the past 90 days is 48.84. In the past three months, the net inflow of financing was 39.4885 million, and the financing balance increased; The net inflow of securities lending was 0 million, and the balance of securities lending increased. Securities star rating analysis tools show that Pulian Software (300996) has a good company rating of 3.5 stars, a good price rating of10.5 stars and a comprehensive valuation rating of 2.5 stars. (Scoring range: 1 ~ 5 stars, with a maximum of 5 stars)
The above contents are compiled by Securities Star according to public information. If you have any questions, please contact us.