Nanwei Software (603636): Date Strategic Investor Denco Investment Waits for Both Sides to Promote Cooperation
Event: Nanwei Software announced on September 22, 2019 that the company’s controlling shareholder and actual controller Mr. Wu Zhixiong and China Electronics Technology Investment Holdings Limited (a wholly-owned subsidiary of China Electronics Technology Group Co., Ltd.Asset management and capital operation platform (hereinafter referred to as “Dianke Investment”) on September 19, 2019, signed the “Share Transfer Agreement”, intending to transfer 31,601,068 shares of the company’s unlimited shares outstanding to Dianke InvestmentThe transferred shares accounted for 6 of the company’s total share capital.
00%, it is expected that after the completion of the share transfer, Denke Investment will become the second largest shareholder of Nanwei Software.
Before the transfer, Wu Zhixiong held 269,079,108 shares, accounting for 51.
09%, Denke Investment did not hold Nanwei Software shares. After the transfer, Wu Zhixiong held 237,478,040 shares, accounting for 45.
09%, the number of shares held by Dianke Investment is 31,601,068, accounting for 6.
00%, will become the second largest shareholder of Nanwei Software.
Comment: Nanwei Software transferred part of the equity, and in conjunction with China Electronics Technology, the share transfer price was RMB10.
24 yuan / share, the transferee Denko Investment shall pay the share transfer price of RMB 323,594,936.
China Electronics Technology is the only large-scale technology group in China that covers the entire field of electronic information.The company ranked 388th.
Nanwei Software is a core enterprise in the domestic “digital government” industry, a leading enterprise in the “Internet + government” field, an obvious enterprise in the field of urban public safety management and smart city construction and operation, and has outstanding core competitiveness in the industry segmentation.
The two sides have mutual complementarity in the fields of smart cities, independent innovation of domestic software, justice, security, etc., and also have industrial upstream and downstream collaboration characteristics in special fields such as the Internet of Things and big data.
The launch of Nanwei Software’s strategic investment in China Electronics Technology is conducive to promoting the simultaneous use of complementary advantages, promoting business integration, improving the capabilities of the entire industry chain, and promoting the development of China’s information technology service industry.
Continue to pay attention to autonomous and controllable Nanwei software with broad market space in the future. It has obtained the first-class qualification of national information system integration and service, the first-class qualification of national secret computer information system integration, the first-class qualification of national building intelligent system design, and electronics.With the first level of professional contracting of intelligent engineering, the first level of design, construction and maintenance capabilities of national security engineering enterprises, six top six qualifications such as CMMI-5 international certification.
The construction of large-scale electronic information systems for major military and civilian use in the major military countries of China Electronics Technology Corporation, the development, production and support services of major electronic equipment, software, basic components and functional materials.
It is a routine and important backbone enterprise directly managed by the central government that involves national security and the lifeblood of the national economy. It is the only large-scale technology group in China that covers the entire field of electronic information technology.
It is estimated that the size of the national Internet + government market will reach 350 billion US dollars this year, and will continue to grow slowly at a rate of 13% in the next 5 years; driven by emerging technologies, it is estimated that by 2020, the total revenue of security enterprises involved in the construction of urban security fieldsIt will reach about 800 billion yuan, with annual compound additives above 10%. According to expectations, the market size of the security industry will approach 1 trillion by 2022; from 2012 to 2018, the average growth rate of China’s Internet of Things industry exceeded 20%, andMaintaining this momentum of continuous growth, statistics from the “Forecasting and Analysis of Market Demand and Investment in the Application Area of the Chinese Internet of Things Industry” released by the Foresight Industry Research Institute show that the size of the Internet of Things market in 2019 will exceed one.
5 trillion, will exceed 1 in 2020.
8 trillion; “White Paper on the Development of New Smart Cities” (2018) pointed out that data obtained from the first national evaluation of new smart cities in 2017 showed that the average distribution of more than 200 cities participating in the scoring of more than 500 existing smart city pilots was 58.
03, the leadership level of more than half of the cities needs to be improved urgently, which means that the market space for smart cities in the future is broad. It is expected that the size of China’s smart city market will exceed 10 trillion US dollars in 2019. The scale, overview of the scale of China’s smart city market from 2014 to 2018, respectivelyIs 0.
76 trillion, 0.
91 trillion, 1.
11 trillion, 6 trillion and 7.
9 trillion, after the outbreak of 2017, China’s smart city market has entered a new stage of rapid growth. Based on the current market space, it is expected to maintain a 30% compound annual growth rate from 2019 to 2022.
With its independent and controllable strategy, Nanwei Software is expected to comply with policy support and grasp market needs. It has broad prospects in areas such as smart government affairs, smart public security, smart politics and law, and smart cities.
Nanwei Software Group’s strategic plan for 2025 is clear, and its market value and scale are clear. Nanwei Software’s strategy clearly proposes to realize the corporate dream of “100 billion Nanwei, a century of Nanwei”, and it will become a hundred billion enterprises by 2025.
“In order to realize this strategic plan, we will specifically implement the industry regional layout strategy, capital expansion strategy, industrial ecological strategy, core competitiveness strategy, talent strategy, industry incubation strategy, global strategy and red engine strategy.
This equity transfer implements the company’s industrial ecological strategy, establishes an industrial cooperation ecology, opens up the supply chain and product chain, and promotes the formation of an ecological cooperation system centered on the city’s platform, extensive industry applications, and big data support to build a smart city.,Number city.
The company’s operating income for the first half of the year was 46,447.
450,000 yuan, an increase of 68 in ten years.
29%, net profit attributable to shareholders of listed companies was 2,448.
240,000 yuan, a slight increase of 2 every year.
At 10%, the net profit attributable to the non-recurring non-recurring gains and losses attributable to the listed shareholders was 1,842.
640,000 yuan, an increase of 75.
The equity transfer 佛山桑拿网 is conducive to the initial business cooperation through the capital connection with China Electronics Technology Corporation, and strive to maintain and promote the company’s profitability growth.
Company’s profit forecast and investment rating: The company’s revenue and non-net profit growth have been strong in the past three years, its customer base is wide and stable, and the market space is growing rapidly. It is expected that the company’s net profit attributable to its mother will be 2 in 2019-2021.
2.6 billion, 3.1.2 billion and 4.
13 trillion, the corresponding EPS is 0.
43 yuan, 0.
59 yuan and 0.
The current anniversary corresponds to a PE value of 29, 21, and 16 times in 2019-2021.
Give “Highly Recommended” rating.
Risk warning: Macroeconomics is less than expected; market demand is less than expected; policy support is less than expected.