Divine Information (000555) In-depth Report: Leading Bank Informatization Companies Focus on FinTech

Divine Information (000555) In-depth Report: Leading Bank Informatization Companies Focus on FinTech
The core level of the industry: The company is the leader of the banking information industry. At present, revenue and gross profit are at the top of the industry’s comparable benchmarks.Cash flow is good, and operating cash flow is at a high level in the industry.The R & D expenditure is very large, and its absolute level far exceeds that of other comparable industries in the same industry. The core business system and channel management in the company’s financial business segment have been in the forefront of the industry for two years, and the core business system has maintained the first place in the industry for 6 years. Core technology advantages: The distributed core 厦门夜网 system will be an important foundation for the further advancement of localization of IT in banks in the future. The information layout of China is very early. It is currently the only enterprise that achieves large-scale deployment. The core system of the future domesticized architecture needs a distributed systemActual deployment to gradually ensure overall reliability.The company has a clear expectation on this point. Pioneer of localization: China Information and Huawei jointly released a joint financial industry solution, relying on Huawei’s TaiShan server and Gauss database to realize the migration of China Information’s core business systems, data platforms and payment platforms to Huawei’s infrastructure.This solution is of progressive significance and provides a set of highly competitive domestically produced solutions for banking IT solutions. Company’s profit forecast and investment rating: China Information is used by financial informatization to become a strategic-driven information enterprise, and its leader in the banking solution market.With strong technical strength, the distributed banking system has an early layout and has realized large-scale deployment and application.We predict that the company’s revenue in the three years 2019-2021 will be 101.500 million, 114.0 billion, 128.600 million, net profit to mother is 3.600 million, 4.500 million, 5.6 trillion, the corresponding eps is 0.38 yuan, 0.47 yuan, 0.58 yuan., Using the segment totalization method, combined with the comparable target estimates of each business segment, the financial / government / telecommunications three business estimates are calculated in accordance with the gross profit of 12X / 8X / 8X in 2018.100 million, giving a highly recommended rating. Risk reminder: Pay attention to the risk of 南京桑拿论坛 localization of financial IT is less than expected.