Zhisheng Information (832171.)BJ) announced on February 5, 2024 that on February 1, 2024, Log Sheng Information was investigated by Soochow** and other institutions, chairman and general manager: Mu Zhigang; Secretary of the Board of Directors: Cheng Lingling; Person in charge of finance: Li Meng; Head of Investor Relations Management: Zhao Jing participated in the reception and answered the questions raised by the research institutions.
The details of the research institutions are as follows: Soochow**; Open source**; Galaxy**; Xinhua**; Wanhe**; Dongxing Asset Management; East China Sea**; Orient**; Zhongtai**; Huanyi Investment; Yunnan Financial Holdings; China Post**; League of Nations**; Monarch**; Zhongshan**; Caixin**; Huimei Yingchuang; trend investing; Yangtze**; Everbright Trust; SDIC**; Rhino Investments, etc.
The main contents of the survey:
3. The main content of investor relations activities.
The main questions of this investor relations event and the company's responses to the questions are summarized as follows:
Question 1: What is the company's plan and outlook for information innovation?
Reply: From the perspective of the industry, the related products and ecology of the information and innovation industry have entered a relatively mature stage after years of polishing, and have a good industry foundation. Relying on the project experience, technology precipitation, customer accumulation and first-chain capabilities accumulated in the information and innovation industry, the company will continue to improve the development capabilities of independent research and development products, the integration capabilities of software and hardware combination of confidential projects, and deepen the research and development and construction of product lines to enhance product stability.
From the perspective of national policy, after the release of the "Outline of the 14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Long-Range Objectives Through the Year 2035", all provinces and cities have actively laid out the information and innovation industry, formulated information and innovation related industrial policies and development plans, and provided goals and directions for the development of information and innovation. In September 2022, the SASAC issued Document No. 79 of the SASAC, which comprehensively guided and required state-owned enterprises to implement the localization transformation of information innovation in the information system, and finally required the information system of all ** enterprises to be replaced by information innovation by the end of 2027.
According to the "2023 China Information and Innovation Industry Research Report" by First New Voice, the market size of the information and innovation industry is expected to increase to 33,777 by 20250.2 billion yuan, 2699% compound growth rate. The company believes that with the national policy in the information and innovation industry, the industry market will become larger and larger, ushering in an important development window. The company will continue to give full play to its own advantages, strengthen the in-depth cooperation between upstream and downstream manufacturers, and strive to seek more business opportunities and business opportunities.
Question 2: What is the company's future business development focus?
Reply: The company will grasp the main line of digital economy development and digital China construction, at the technical level, aiming at the core application of the digital economy and forward-looking technology fields such as artificial intelligence, big data, cloud computing, and the Internet of Things, and using the industrial foundation of Hebei Artificial Intelligence Computing Center in Langfang, continuously investing in the basic research and development of digital technology, and strengthening the technology integration and industry application product innovation for diversified application scenarios. At the business and market level, the company will continue to upgrade and optimize its business development layout, continue to promote the company's development and transformation, closely focus on pragmatic innovation in the three core areas of "government affairs, industry, and people's livelihood", "focus on government affairs, incremental industries, and dig deep into people's livelihood", highly focus on vertical subdivided industries in the field of healthy profitability and strategic layout, efficiently integrate core technologies such as big data, cloud computing, Internet of Things, GIS, and artificial intelligence, continue to iteratively upgrade smart city industry applications and products, and We will make directional breakthroughs in key technology fields and key industry scenarios such as pension technology and rail intelligence, adhere to the principle of "digging one kilometer down", consolidate the foundation of the company's high-quality and stable development, and create new momentum and new engine for the sustainable development of the company's business.
Question 3: What is the proportion of each business segment of the company?
Re: Divided by the service objects and end users in the field of product application, the company's business mainly serves the three major areas of government affairs, industry and people's livelihood. For sales, the three major business segments of smart government, smart industry, and smart people's livelihood account for about 5:2:3 level. The company will continue to promote transformation and upgrading, continuously optimize its business layout, and strive to achieve balanced development of the three business segments in the future.
Q4: What is the company's market share in the smart city industry?
Re: Due to the low concentration of the industry, there is no official market share statistics at present.
Question 5: What are the company's outstanding advantages?
Reply: In terms of industry experience, since its establishment, the company has always focused on the planning, construction and operation of the field of smart cities, and has been applied in many counties, and the smart city industry application system has been successfully implemented in more than 100 party and government organs, and the company has accumulated rich experience in the construction of smart cities over the years. According to the list released by the Hebei Federation of Industry and Commerce, since 2017, the company has been rated as one of the top 100 private enterprises in the service industry in Hebei Province for 6 consecutive years, with a high reputation in Hebei and a certain competitive advantage in terms of brand and strength.
In terms of technical reserves, after years of R&D practice, combined with a new generation of information technology such as big data, cloud computing, Internet of Things, GIS, artificial intelligence, etc., the company has continuously applied and innovated in smart city scenarios, formed a set of R&D systems that meet its own business characteristics and have independent intellectual property rights in multiple industries, and increased R&D investment according to technological development trends to drive the rapid R&D, update and iteration of new products. Up to now, the company has applied for more than 40 patents, obtained 10 patent certificates, and obtained more than 300 software copyright certificates.
In terms of qualification certification, the company has established a qualification certification system for the whole process of business from R&D, product quality, information security, operation and maintenance services to technical support services, and has more than 20 system certifications and industry qualifications, mainly including CMMI maturity level 5, "CCRC Information Security Service Qualification Certificate", "Data Management Capability Maturity Level Certificate DCMM2", "Confidential Information System Integration Qualification Certificate", etc., and the company has been focusing on project delivery efficiency and quality. It has certain advantages in terms of service ability and reputation, and it is easier to be trusted by users.
Question 6: What are the reasons why the company's accounts receivable have a greater impact on the company's profits and what are the countermeasures in the later stage?
Reply: On the one hand, affected by many factors such as the slowdown in macroeconomic growth, the economic situation of the industry and the tightening of the financial budget, the payment approval, project audit, fund allocation and other process delays of some of the company's customers are limited to varying degrees, resulting in the slowdown of the company's accounts receivable collection, the progress of payment collection is not as expected, and some accounts receivable are more than 3 years old.
On the other hand, the company is more strict about the proportion of bad debts of accounts receivable, and the provision for bad debts is sufficient, which leads to a significant increase in the company's credit impairment losses and a decrease in the net profit attributable to shareholders of listed companies. According to the company's current accounting estimation policy, the credit impairment loss of accounts receivable is calculated based on the aging as the credit risk characteristic: the proportion of accrual is 5% within 1 year (including 1 year), the proportion of accrual is 10% for 1-2 years (including 2 years), the proportion of accrual is 50% for 2-3 years (including 3 years), and the proportion of accrual for more than 3 years is 100%.
Compared with comparable companies in the same industry, the proportion of bad debts accrued within 1 year (including 1 year to 2 years (including 2 years) is close to that of listed companies in the same industry; The proportion of bad debts accrued by the company for more than 2 years (excluding 2 years) is higher than that of listed companies in the same industry.
In addition, the sales contracts signed by the company and customers before 2022 stipulate that the payment conditions are generally "payment after acceptance". Since FY2022, based on the changes in the overall economic situation and industry development trends, customer sales and settlement methods have begun to tend to be based on installment settlement, and the payment cycle is generally agreed to be 1 to 5 years. There are some adjustments and changes in the company's current sales and settlement methods, which have also led to changes in the company's existing actual bad debt provision amount to a certain extent.
However, the company's accounts receivable customers are mainly financial capital customers such as ** institutions, banks, large state-owned enterprises, schools and public institutions, with low credit risk and strong performance and payment ability. Even under the pressure of economic growth, ** at all levels have actively promoted the extension or extension of maturing debts and bonds in the region, and strived to resolve debt pressure, which has not been resolved in extreme ways such as restructuring and exemption, which is significantly different from corporate debt, so it is less likely to be in material default and cannot be recovered. At the same time, the company will continue to increase the collection and collection of post-period collection, strengthen the management of accounts receivable, and minimize its adverse impact on the company's operation.
The above content and data have nothing to do with the position of the interface and do not constitute investment advice. Do so at your own risk.