The 2020 semi-annual operating review of the board of directors of Kechuang Information (300730) is as follows:
1. Overview
In the first half of 2020, the company achieved operating income of 8,974.37 million, a year-on-year increase of 4.88%; operating profit -14.1176 million yuan, a year-on-year decrease of 51.51%; total profit -14.1459 million yuan, a year-on-year decrease of 51.29%; net profit attributable to shareholders of listed companies -14.3487 million yuan, a year-on-year decrease of 48.85%.
During the reporting period, the company’s key work review:
1. Enhanced advantages and led the comprehensive development of digital government, and the regional market has always dominated and expanded
Report During the period, the company's core digital government applications represented by "Internet + Government Services" and "Grid + Social Governance" occupied a dominant position in the regional market, and its share in the regional market continued to expand and gradually penetrated into the national market. In the field of "Internet + Government Services", following the completion of the second phase of the Hunan provincial-level "Internet + Government Services", the construction of "one thing done at a time" in cities, districts and counties in Hunan has set off a new wave of information construction. The company It has successively undertaken projects related to “one thing done at one time” in Yueyang, Shaoyang, Shaoshan, Xiangyin County and other regions; in the field of “grid + social governance”, the company has undertaken the Changsha City Large Grid Governance Platform Project, and Expanding in the direction of party building as the guide, grid governance as the basis, and comprehensive integration of grassroots public service management services will further consolidate the company's leading position in grid governance in the province. So far, the company has completed the construction of "grid + social governance" platforms in more than 70 cities, districts and counties across the province.
According to the spirit of the Hunan Provincial Party Committee’s No. 1 document, the company has settled party affairs, government affairs, village affairs, business, The construction of "grassroots public service (one-door)" that integrates public service culture and social services; in addition, the company has undertaken projects such as the Yunnan Provincial Market Supervision Administration Food Safety Supervision Platform and Guizhou Government Affairs Cloud, etc. The company has laid a good foundation for further expanding the national market.
2. Focusing on the key customer strategy, the smart enterprise business grew steadily
During the reporting period, the company focused on the key customer development strategy and continued to promote the transformation and upgrading of the smart enterprise business. The company has undertaken enterprise information system construction projects for many major customers such as China Railway Construction Electrification Bureau, further stimulating the development of the enterprise market; in the field of machine vision, the company continues to maintain its first-mover advantage in the field of glass deep processing and inspection, with a view to driving greater growth. market development.
3. Continuously increase R&D and innovation efforts to promote the company’s technical strength
During the reporting period, the company maintained stable investment in technology research and development and established a more complete technology rating system to ensure the efficiency of the company's continuous innovation. The company adheres to the "platform + application" development model, continues to deepen the research and development of emerging information technologies such as cloud computing, big data, and artificial intelligence, and continuously optimizes and iterates during project polishing. During the reporting period, the company added 33 new software copyrights, 1 new software product evaluation certificate, 2 new national invention patents, and 1 new application for invention patent.
4. Focus on the application of industry advantages and actively embrace the ecosystem to drive business development across the country
The company is based on in-depth understanding of key industries and fields, constantly strengthening its business advantages in core industries and cooperating with Huawei and Tencent Ecological cooperation with leading enterprises, and relying on the leading role of industrial alliances to actively expand business across the country. During the reporting period, the company successively joined the Changsha Software and Information Technology Service Industry Promotion Association and Changsha New Smart City Research Association as the initiating unit and vice-president unit, and joined the Hunan Kunpeng Computing Industry Technology Innovation Strategic Alliance as the vice-president unit; In terms of cooperating with leading enterprises to seek development, the company has obtained Tencent Cloud-Xiangzhiyun partner qualifications, Alibaba-DingTalk Chunlei Plan Hunan Digital County Qualifications, and Huawei Cloud Kunpeng Lingyun Plan partner qualifications. Among them, Grid The social governance and service platform has passed Huawei's enterprise-level ISV certification, and 7 products have obtained Huawei-Kunpeng solution adaptation certification. The company uses the market empowerment and technology empowerment of the ecosystem to continuously improve the market competitiveness and social influence of its own technologies and solutions, actively expand sales channels, implement relevant projects, and gradually expand to the national market.
5. Increase the company’s brand promotion, deepen industry exchanges and cooperation, and establish the company’s high-quality image
During the reporting period, the company’s chairman, Mr. Fei Yaoping, attended the first Xiangjiang Kunpeng Partner Conference and At the "*** Enjoy the Digital Economy, *** Win the Ecological Future" roundtable forum, we provided suggestions for the development of Kunpeng Ecology and Hunan's digital economy, and *** jointly looked forward to the prospects of Kunpeng Ecology; as the vice president unit of the association, the company attended the Changsha City The Industrial Internet Association held the first preparatory meeting for the Industrial Internet Conference, and discussed with the participants the work related to the Industrial Internet Conference to be held in the second half of 2020. The company's honors and active participation in official activities have established a good brand image for the company and laid a solid foundation for the company's sustainable and healthy development.
2. Risks faced by the company and countermeasures 1. Risks of intensified market competition In recent years, under the influence of key national policy support and the release of good news in many industries, smart cities and smart manufacturing have attracted attention from all walks of life. The entry of quasi-capital has upgraded the overall competition from pure technology and service competition to comprehensive competition of capital and resource integration, and industry competition has further intensified. In response to the upgrading of industry competition, the company's unique "platform + application + customized service" model has the advantage of resource synergy. As the layout of each sector becomes more mature and integrated, the synergy effect will gradually become more prominent, thus effectively enhancing the company's core competitiveness. However, if the company misjudges industry development trends or takes seriously inappropriate measures to respond to market competition, it will have an adverse impact on the company's future business development. 2. Risk of seasonal fluctuations in income. The company's main customers are governments, government agencies and institutions. These government and enterprise customers usually implement budget management and centralized procurement systems. Procurement bidding and settlement have obvious seasonal characteristics, resulting in many of the company's projects being concentrated in the first quarter. Final inspection will be conducted in the fourth quarter. The company's revenue is mainly recognized based on the final verification report of the project, resulting in the company's operating income recognition being mainly concentrated in the fourth quarter, and the company's operating income is subject to strong seasonal fluctuation risks. 3. Implementation risks of investment projects with raised funds The implementation progress and profitability of the company's investment projects will have an important impact on the company's future operating performance. Although the company has conducted rigorous demonstrations and discussions on the necessity and feasibility of fundraising projects, and has also made detailed plans in terms of technology research and development, talent reserves, market expansion, etc., there are still objective factors or policy environments due to force majeure. There is a risk that changes in technology, market, etc. may cause the project to fail to proceed as expected or to fail to achieve the expected level of benefits. 4. Risks of machine vision application expansion. The company has obtained a number of patents and core technologies in the field of machine vision, especially in the field of float glass production and inspection. However, due to the limited capacity of the float glass primary processing inspection market and the overcapacity of the domestic glass industry, this field has There is great uncertainty in the future market space. At present, the company is actively conducting technology research and development and application expansion in the field of glass deep processing and visual inspection in other industries. However, due to the short entry time into related fields and industries and the need to invest more resources, the company's expansion of machine vision application fields has certain risks. . 5. Risk of core talent loss. The company has always attached great importance to the cultivation and reserve of core talents, and has stabilized its current situation through measures such as improving the performance appraisal and incentive system for core technical personnel, shaping a cohesive and centripetal corporate culture, flexible job settings, and improving the office environment. It has a core technical team and continues to recruit various high-end technology and R&D talents. However, as the market competition in the industry in which the company operates continues to intensify, the demand for high-end professional talents is increasing day by day. If the company cannot provide more competitive salaries and good career development expectations in the future, the company still faces the risk of losing core technical personnel. 6. Risk of geographical concentration of income During the reporting period, the company's operating income was mainly concentrated in Hunan. The company has been deeply involved in the Hunan market for many years, and has accumulated rich industry application development experience and customer resources. Its business has gradually expanded from central China to surrounding and even western provinces. Currently, it has set up branches in Kunming, Beijing, Zhengzhou, Wuhan and other places to provide marketing and service The network has been further expanded, but because the company's current revenue sources are relatively concentrated geographically, there is still a risk of geographical concentration of revenue.
In the future, the company will base on the in-depth exploration of local government and large and medium-sized enterprise customers, optimize the customer structure, expand customer resources, and build a nationwide marketing service network to further enhance customer expansion capabilities and rapid response capabilities of customer services; at the same time, actively Carry out cooperation with all participants in the industry chain, expand sales channels, accelerate the process of products entering the market, reduce operating risks, and provide strong support and guarantee for the company's long-term development. 7. The risk of the new coronavirus epidemic affecting the company's performance. Since January 2020, the new coronavirus epidemic has broken out in my country. Local governments have successively introduced and strictly implemented epidemic prevention and control measures such as delaying the resumption of work, restricting logistics, and pedestrian flow. The company has taken multiple measures to ensure the health of its employees while promoting the company's normal production and operations to minimize the impact of the epidemic on the company. Although my country's current situation continues to improve, there is still great uncertainty in the global epidemic and prevention and control. If the COVID-19 epidemic cannot be effectively controlled in the future, it will have an adverse impact on the company's operating performance. 8. Uncertain risks brought about by synchronic control. Since its establishment, the company has been managed jointly by five persons, Fei Yaoping, Li Jie, Li Jianhua, Liu Xingsha and Liu Yinglong, who are the senior colleagues of the company. actual controller. During the reporting period, the company's equity structure was stable, its management structure was complete, and its corporate governance was gradually standardized. In order to ensure the stability of the company's control, Fei Yaoping, Li Jie, Li Jianhua, Liu Xingsha and Liu Yinglong signed the "Concerted Acting Persons Agreement", clarifying the concerted acting relationship and making commitments. However, if irreconcilable conflicts occur within the company's common controllers, the company's common control structure will be affected, which may have a significant and uncertain impact on the company's management decisions. In view of the company's current situation of dispersed ownership, the company's management has continuously improved its corporate governance level by improving the corporate governance structure, strengthening the construction and implementation of internal management systems, promoting a flat business organizational structure, and establishing a division manager responsibility system. Through reasonable talent echelon construction and reserve leadership training plans, we can weaken the impact on the company when the actual controller of the company may change his responsibilities.
3. Core Competitiveness Analysis During the reporting period, the company’s business areas were still mainly targeted at government and enterprise customers in the digital government and smart enterprise fields. Since its establishment, the company has determined the development strategy of "taking talents as the foundation, technology as the support, and service and quality as the guarantee". After years of development, the company's core competitiveness is mainly reflected in the following aspects: 1. The continuously innovative core technology company has always attached great importance to technology research and development and product innovation, and guaranteed technology research and development and product innovation from the aspects of systems, funding, personnel and other aspects. As of June 30, 2020, the company *** owned 432 software copyrights, 111 software product registration certificates (evaluation certificates), 4 national invention patents, 11 utility model patents, and 3 registered trademarks. During the reporting period, the company added 33 new software copyrights, 1 new software product evaluation certificate, 2 new national invention patents, and 1 new application for invention patent. 2. Outstanding management capabilities The company uses the amoeba management model for internal management: business units are divided according to the company's business areas, and each business unit has certain independent capabilities. The amoeba management model ensures that the company can achieve full participation in operations under unified management, forming rapid execution and driving force for orders and prohibitions. At the same time, it helped the company select and train a group of excellent middle-level managers, improving the company's overall strength. 3. High-quality talent team The company's core R&D and management team is composed of professors, associate professors, senior engineers and senior professionals. The members all have more than ten years of business and management experience and have a clear understanding of the industry's technological frontiers and development trends. Ability to promptly adjust the company's R&D focus and strategic development layout according to industry development trends. The company strives to create an excellent technological innovation environment. Through a series of system construction and incentive measures, it has cultivated a group of technical backbones and outstanding scientific research talents. The perfect talent training mechanism and rich talent reserve are not only the foundation of the company's R&D strength, but also the company's market A source of competitive advantage. 4. Deep industry accumulation and industry innovation capabilities. The company has long been focused on providing comprehensive information solutions for government and enterprise customers. Its main service targets are domestic government agencies, institutions, telecom operators and large and medium-sized enterprises in various industries.
The company's business has covered more than 20 provinces across the country, providing high-quality services to thousands of customers from national ministries, provinces, cities, counties and other levels, involving public security, finance and taxation, market supervision, education, medical care, telecommunications, glass, etc. We have established long-term cooperative relationships with leading companies in multiple industries. During the reporting period, the company undertook the construction of the food safety supervision platform of the Yunnan Provincial Administration for Market Regulation, Guizhou Government Affairs Cloud, Changsha "Urban Super Brain" smart government affairs and other projects. The company's advantages accumulated in the industry have been further expanded, and the innovation capabilities of industry applications have been further improved. . 5. Customer-oriented special services: It is the company's consistent pursuit to create a delivery and service system with core competitiveness and provide customers with high-quality, high-reliability special services. After decades of long-term cooperation with government and enterprise customers, the company has formed a set of service processes for different customers, including customer demand mining and demand analysis in the early stage, project implementation and continuous improvement in the mid-term, and IT operation and maintenance in the later stage. Processes and service processes are seamlessly connected. The company adheres to the principle of localized service and sets up a localized service team at the project location to carry out product improvements and technology upgrades based on customer needs, and develop personalized support service plans for customers. The company's customer-oriented special services have won reputation among customers and gained the trust of more and more users. 6. Complete qualifications After years of R&D investment and experience accumulation, the company currently has "CMMI5 certification", "Audio Engineering Enterprise Comprehensive Technology Registration Certificate (Level 1)", and "Building Intelligent Engineering Professional Contracting Certificate (Level 1)" ", "Surveying and Mapping Qualification Certificate Class B" and many other qualifications. New entrants to the industry will need a longer period of experience accumulation and continuous improvement to obtain the above qualifications. Obtaining the above qualifications is not only a prerequisite for the company to undertake various related businesses, but also a reflection of the company's overall strength. 7. Good brand image: The company has won the trust and support of many customers by undertaking many major provincial projects in the province, and relying on its deep technical strength and perfect customer service, forming a good brand effect. Compared with comparable local companies in Hunan Province, the company has leading advantages in business scale, historical project experience, and business undertaking capabilities.