证券研究报告 | 公司动态点评 2024 年 09 月 11 日 神州控股（00861.HK） 大数据持续发力，跨境出海成效显著 | --- | --- | --- | --- | --- | --- | |----------------------|-------|--------|-------|-----------------|-------| | 财务指标 | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业收入（百万元） | 17750 | 18277 | 19255 | 20590 | 22208 | | 增长率 yoy （ % ） | -13.6 | 3.0 | 5.4 | 6.9 | 7.9 | | 归母净利润（百万元） | 310 | -1834 | 491 | 583 | 743 | | 增长率 yoy （ % ） | -56.4 | -690.8 | 126.8 | 18.7 | 27.5 | | ROE （ % ） | 3.7 | -29.1 | 7.4 | 8.3 | 9.9 | | EPS 最新摊薄（元） | 0.19 | -1.10 | ...

Revenue and Profitability - Revenue for the six months ended June 30, 2024, was RMB 7,014,343 thousand, representing a 5.05% increase from RMB 6,677,315 thousand in the same period of 2023[3] - Revenue from big data products and solutions reached RMB 1,277,132 thousand, a growth of 16.97% compared to RMB 1,091,815 thousand in the previous year, accounting for 18% of total revenue[3] - Profit attributable to shareholders of the parent company decreased by 73.22% to RMB 10,808 thousand from RMB 40,355 thousand in the same period last year[3] - Basic earnings per share for the period was RMB 0.0073, down from RMB 0.0270 in the previous year[4] - The company reported a total comprehensive loss of RMB 61,368 thousand for the period, compared to a comprehensive income of RMB 62,627 thousand in the previous year[6] - The gross profit for the group was RMB 957,458 thousand, down from RMB 1,109,105 thousand, showing a decline of approximately 13.7%[13] - The operating loss before tax was RMB (60,735) thousand for the current period, compared to a profit of RMB 108,296 thousand in the previous year, indicating a significant downturn[13] - The total contract revenue from customers was RMB 6,868,016 thousand, an increase from RMB 6,509,790 thousand, marking a growth of about 5.5%[15] - Other income totaled RMB 70,545 thousand, down from RMB 241,069 thousand, reflecting a decrease of approximately 70.7%[16] - The segment performance for software and operational services showed a profit of RMB 81,384 thousand, down from RMB 107,219 thousand, indicating a decrease of approximately 24.2%[13] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 12,887,884 thousand, a decrease from RMB 13,752,110 thousand as of December 31, 2023[7] - Current liabilities decreased to RMB 8,587,915 thousand from RMB 9,180,834 thousand at the end of the previous year[7] - Non-current assets totaled RMB 9,022,713 thousand, slightly down from RMB 9,047,703 thousand at the end of 2023[7] - Cash and cash equivalents decreased to RMB 1,906,885 thousand from RMB 2,883,308 thousand at the end of the previous year[7] - Accounts receivable, net of provisions, decreased to RMB 3,688,428,000 from RMB 4,180,284,000 as of December 31, 2023[22] - The aging analysis of accounts receivable showed a significant increase in amounts overdue beyond 360 days, rising to RMB 774,585,000 from RMB 712,156,000[23] - The company’s cash and cash equivalents stood at approximately RMB 1.907 billion as of June 30, 2024, with RMB 1.84 billion denominated in RMB[40] - As of June 30, 2024, the company's total assets amounted to approximately RMB 21.91 billion, with total liabilities of about RMB 11.79 billion[40] Dividends - The company declared an interim dividend of HKD 0.01 per share, payable on October 14, 2024[3] - The company declared a final dividend of HKD 0.06 per share for the year ended December 31, 2023, totaling approximately HKD 100,416,000, an increase from HKD 75,312,000 in the previous year[19] - The company declared an interim dividend of HKD 0.01 per share for the six months ending June 30, 2024, consistent with the previous year's dividend[26] Research and Development - Research and development expenses (excluding amortization of other intangible assets) were RMB 282,488,000, slightly down from RMB 289,782,000 in the previous year[17] - The company’s R&D expenses reached 320 million yuan, positioning it at the forefront of the industry, with 161 national and industry standards led or participated in, and 2835 intellectual property rights obtained[35] - The company is committed to continuous collaboration with universities and research institutions to enhance R&D in "Big Data + AI" products and solutions[35] Strategic Focus and Growth - The company plans to continue expanding its big data and AI-driven solutions, focusing on smart city and supply chain applications as part of its growth strategy[12] - The company is focusing on the "City CTO + Enterprise CSO" business model to enhance its market presence in smart city and supply chain solutions[28] - The company is actively participating in major projects such as the AI infrastructure in Changchun, indicating its commitment to urban digital transformation[31] - The company achieved a significant transformation from construction-based revenue to operational revenue, focusing on digital transformation for leading enterprises in various industries[32] - The company is actively expanding its enterprise-level market by leveraging its advantages in data governance and application, focusing on cutting-edge technology fields[32] - The company aims to enhance AI applications' autonomous decision-making capabilities, promoting low-code and no-code rapid development for business personnel[34] - The company is positioned to expand its "Big Data + AI" strategy, focusing on market expansion in both domestic and international sectors[38] Legal and Compliance - The company is currently involved in a patent infringement lawsuit, with a claim for economic damages totaling RMB 275.3 million against two companies[43] - The company has not made any significant investments or acquisitions in subsidiaries, associates, or joint ventures during the six months ended June 30, 2024[45] - The audit committee has reviewed the unaudited interim results for the six months ended June 30, 2024, with no objections to the accounting treatments adopted[50] - The company has appointed Dr. Guo Song as an independent non-executive director, and Mr. Chen Huikang as the chairman of the audit committee, ensuring compliance with listing rules regarding independent directors[52] - The company has complied with the corporate governance code, with some deviations explained, particularly regarding the roles of the chairman and CEO being held by the same individual[53] Employee and Operational Metrics - As of June 30, 2024, the company has a total of 17,307 full-time employees, an increase of 7.94% from 16,033 employees as of June 30, 2023[46] - Employee costs for the six months ended June 30, 2024, amounted to approximately RMB 1.744 billion, representing a 14.73% increase compared to RMB 1.520 billion for the same period in 2023[46] Financial Position and Capital Management - The company raised approximately RMB 1.149 billion from a rights issue completed in September 2017, with RMB 210 million remaining unutilized as of June 30, 2024[49] - The unutilized net proceeds from the rights issue are expected to be fully utilized by June 30, 2025, for potential investments in health care big data or other suitable opportunities[49] - The company has a total of approximately RMB 4.123 billion in bank loans, with a significant portion secured against real estate and investment properties[41] - The company plans to actively explore inorganic growth strategies, including capital operations, to enhance its strategic blueprint[37]

公司研究/信息服务 证券研究报告 神州控股(0861.HK)公司报告 2024 年 06 月 30 日 股票数据 | | |-------------------| | 投资评级 优于大市 | | 0 [ 6 Ta 月 b 2 le 8 _ 日 S 收 to 盘 ck 价( In 港 fo 元 ] ) | 3.34 | | |---------------------------------------------------------------|-----------|-----| | 52 周股价波动(港元) | 2.00-3.66 | | | 总股本/流通股(百万股) | 1674/1674 | | | 总市值/流通市值(百万港元) | 5590/5590 | | 市场表现 | 恒生指数对比 | 1M | 2M | 3M | | |----------------|------|------|------|---------| | 绝对涨幅(%) | -3.2 | 18.0 | 12.1 | | | 相对涨幅(%) | 2.3 | 17.1 | 3.3 | | 资料来源:海通证券研究所 | 分析师: ...

证券研究报告 | 公司动态点评 2024 年 06月 12日 神州控股（00861.HK） 深耕城市 CTO+企业 CSO，大数据业务发展提速 财务指标 2022A 2023A 2024E 2025E 2026E 增持（首次评级） 营业收入（百万元） 17750 18277 19255 20590 22208 股票信息 增长率yoy（%） -13.6 3.0 5.4 6.9 7.9 归母净利润（百万元） 310 -1834 491 583 743 行业 计算机 增长率yoy（%） -56.4 -690.8 126.8 18.7 27.5 2024年6月11日收盘价（港元） 3.370 ROE（%） 3.7 -29.1 7.4 8.3 9.9 总市值（百万港元） 5,640.06 EPS最新摊薄（元） 0.19 -1.10 0.29 0.35 0.44 流通市值（百万港元） 5,640.06 P/E（倍） 18.2 -3.1 11.5 9.7 7.6 总股本（百万股） 1,673.61 P/B（倍） 0.7 0.9 0.9 0.8 0.8 流通股本（百万股） 1,673.61 资料来源：公司财报，长城证券产业金 ...

Financial Performance - The total revenue for 2023 was RMB 18,276,547, representing a year-on-year increase of 2.97% from RMB 17,749,982 in 2022[5]. - Revenue from big data products and solutions segment reached RMB 3,171,898, marking a significant growth of 30.07% compared to RMB 2,438,536 in the previous year[5]. - The adjusted net profit attributable to the parent company was RMB 301,111, a substantial increase of 37.95% from RMB 218,271[5]. - The cash generated from operating activities was RMB 746,141, reflecting a 41.97% increase from RMB 525,557 in 2022[5]. - The company's total revenue for the reporting period was RMB 18.277 billion, representing a year-on-year growth of 3%[33]. - Adjusted net profit attributable to the parent company reached RMB 301 million, a year-on-year increase of 38%[33]. - The net cash generated from operating activities was RMB 746 million, reflecting a year-on-year growth of 42%[33]. - New signed projects amounted to RMB 15.872 billion, up 22% year-on-year, while unrecognized signed contracts increased by 26% to RMB 8.288 billion[33]. Strategic Partnerships and Collaborations - The company signed a series of cooperation agreements with Wanda Group to develop the "Digital City" in Kunshan, leveraging its core technology capabilities[9]. - A strategic cooperation agreement was reached with New Zealand's Draw More Circles to promote digital integration in sports services, based in Kunshan[10]. - Shenzhou Holdings has established strategic partnerships, including a collaboration with Kunshan Lulutong Big Data Co., to enhance public data operations[17]. - The company signed a strategic cooperation agreement with Kunshan Lulutong Big Data Co., Ltd. to jointly build and operate a public data operation platform[37]. Innovation and Technology Development - The company launched a new generation city knowledge graph platform at its innovation technology conference, outlining its future big data strategy[11]. - The company has focused on deepening core technology research and development, aligning with the strategic direction of big data[27]. - The company has developed a "public data operation platform" to enhance its capabilities in data governance and assetization, laying a solid foundation for next-generation smart big data products[28]. - The company has launched the "Urban Knowledge Graph Platform," integrating with AI models to create reliable AI tool products for the industry[28]. - The company is focusing on the "big data + artificial intelligence" strategy to seek incremental breakthroughs around core product application scenarios[116]. Market Expansion and Global Presence - The company has expanded its overseas market presence, participating in digital government and smart city projects in Hong Kong, with business scale achieving breakthrough growth[30]. - The company is accelerating its global market layout, replicating its digital capabilities in more countries and seeking new growth opportunities[40]. - The company has expanded its business to regions including Southeast Asia, the Middle East, and Europe, providing end-to-end supply chain services and digital solutions[41]. - The company is actively pursuing the disposal of real estate projects related to its financial products, with an estimated principal amount of RMB 193 million involved[44]. Awards and Recognition - In 2023, Shenzhou Holdings achieved significant recognition, ranking 7th in the TOP30 of China's most innovative AI product solutions[18]. - The company was awarded the 2022 Annual Leading Enterprise in the Big Data Sector, highlighting its strong position in the industry[18]. - The company has received multiple awards in 2023, including the 1st place in Digital Twin Solution Providers and 10th place in Excellent Digital Technology Solution Providers[22][21]. - The company has been recognized for its innovative contributions, including the 2023 Digital Economy Leading Enterprise award and the 2023 Best TMT Company award[26][27]. Corporate Governance and Leadership - The company reported a significant leadership structure with Mr. Guo Wei serving as Chairman and CEO, bringing over 36 years of experience in business strategy and operations management[56]. - The board consists of nine directors, including two executive directors, two non-executive directors, and five independent non-executive directors[75]. - The company has established governance policies and practices, which are reviewed and monitored by the audit committee[84]. - The board has adopted a nomination policy to ensure continuity and appropriate leadership at the board level, which includes criteria for evaluating candidates' suitability[86]. Environmental, Social, and Governance (ESG) Initiatives - The company has committed to sustainable development, actively responding to climate change risks and promoting green production and R&D initiatives[118]. - The company has established the "Excellence Goddess Club" platform to support the growth and development of female employees[117]. - The company has launched a dedicated ESG section on its website to showcase its sustainable development policies and annual ESG reports[131]. - The company aims to create shared value with stakeholders by actively exploring sustainable development paths[127]. Employee Development and Diversity - The company has implemented a series of policies and mechanisms to strengthen its long-term commitment to equality and diversity in the workplace[190]. - The company has a robust recruitment strategy that includes campus recruitment and social recruitment, ensuring fair treatment of all candidates regardless of their background[191]. - The company has developed a digital talent training model through e-commerce live streaming operations to cultivate practical talents for the industry[196]. - The company aims to increase the proportion of female employees from 24% in 2023 to one-third by 2030[94].

尊敬的神州控股的股东朋友们： 大家好！ 2023年，我们共同走过一段艰辛的历程。疫情之后的世界，仍在缓慢的恢复中，而战争和逆全球化的潮 流使得国际国内的经济环境受到了更大的冲击。同时，我们自身也在经受考验，神州控股的一些历史投 资资产，随着时间的推移和环境的影响，部分出现了减值。上述情况我们已在业绩发布前就通过《盈利 警告》向大家进行了充分说明。所以，这一次我们更要特别感谢大家对我们的信任和支持，和我们一起 并肩战斗。我们要再次向大家表示，虽然我们在去年进行了减值拨备，但这对公司的主营业务经营状况 和现金流并不构成影响，公司仍然安排了现金分红，并且每年坚持以净利润的1/3以上派息回馈股东， 2023年度的分红总金额将超过1亿元，我们要始终将共建共享的原则落到实处。 朋友们，我们正在经历的是一场前所未有的时代变革，人工智能的影响正在快速席卷地球的每一个角 落。面对这样的时代浪潮，我们的内心充满创业的兴奋与激情。所以，这次我们也想着重和大家分享一 下我们对人工智能的理解以及未来的工作方向，让大家共同感受这个时代所带给我们的机遇和梦想。 数据与场景 人工智能技术在2023年产生了跨越式的发展，从底层技术的不断升级到 ...

Financial Performance - The company's total revenue for the year ended December 31, 2023, was RMB 18,276,547, representing a year-on-year increase of 2.97% compared to RMB 17,749,982 in 2022[2]. - Revenue from the big data products and solutions segment grew significantly by 30.07%, reaching RMB 3,171,898, up from RMB 2,438,536 in the previous year[2]. - The adjusted net profit attributable to the parent company was RMB 301,111, reflecting a 37.95% increase from RMB 218,271 in the previous year[2]. - The company reported a significant loss of RMB 1,701,471 for the year, compared to a profit of RMB 466,496 in the previous year, primarily due to impairment provisions related to non-core businesses[5]. - The company recorded a net loss attributable to the parent company of RMB 1.834 billion, primarily due to losses from joint ventures and impairment losses totaling approximately RMB 989 million and RMB 1.146 billion respectively[32]. - The group reported a pre-tax loss of RMB (1,833,689) thousand in 2023 compared to a profit of RMB 310,370 thousand in 2022[24]. - The company reported a loss before tax of RMB 1,639,194 thousand in 2023, compared to a profit of RMB 500,811 thousand in 2022, indicating a significant decline in profitability[13]. Cash Flow and Assets - Net cash generated from operating activities increased by 41.97%, amounting to RMB 746,141, compared to RMB 525,557 in the prior year[2]. - The company maintained a strong cash reserve, with cash and cash equivalents totaling RMB 2,883,308, up from RMB 2,522,006 in the previous year[6]. - Total assets decreased to RMB 13,752,110 from RMB 13,611,471, while total liabilities slightly decreased to RMB 9,180,834 from RMB 9,276,829[6]. - The net asset value decreased to RMB 10,366,005 thousand in 2023 from RMB 12,312,471 thousand in 2022, a decline of about 15.8%[8]. - The total amount of loans as of December 31, 2023, was approximately RMB 3.28 billion, with a debt-to-equity ratio of 0.52[50][51]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.06 per share, bringing the total dividend for the year to HKD 0.07 per share, an increase of HKD 0.02 from the previous year[2]. - The company declared an interim dividend of RMB 13,770 thousand for 2023, compared to RMB 60,644 thousand for the final dividend of 2022[22]. - The company plans to distribute a final dividend of HKD 0.06 per share, with total dividends for the year expected to exceed RMB 1 billion, accounting for 35% of the adjusted net profit attributable to the parent company[33]. Research and Development - Research and development costs increased to RMB 738,542 thousand in 2023 from RMB 665,110 thousand in 2022, reflecting a growth of about 11.0%[19]. - Research and development expenses for big data products and solutions were 486 million yuan, a year-on-year increase of 6%[35]. - The company has accumulated 2,787 intellectual property rights, an increase of 189 from the previous year[35]. Strategic Partnerships and Market Expansion - The company has established a strong partnership with NVIDIA, deploying AI computing centers and winning several large-scale project tenders worth over RMB 100 million[1]. - The company is focusing on expanding its big data and AI strategies, which have shown promising results in revenue growth[1]. - The company plans to continue expanding its market presence through new product development and strategic acquisitions in the upcoming fiscal year[12]. - The company is accelerating its global market layout, seeking new growth opportunities through digital transformation projects in overseas banks[41]. Operational Metrics - The company’s total operating revenue for 2023 was RMB 18.277 billion, representing a year-on-year growth of 3%[31]. - New signed projects amounted to RMB 15.872 billion, showing a year-on-year increase of 22%[31]. - The aging analysis of accounts payable showed an increase in amounts due within 30 days to RMB 2.007 billion in 2023 from RMB 1.542 billion in 2022[28]. Corporate Governance - The company has adhered to the corporate governance code, with some deviations explained regarding the roles of the chairman and CEO, and the appointment of directors[66]. - The company’s audit committee consists of three independent non-executive directors, ensuring compliance with financial reporting and internal controls[60]. - The independent auditor confirmed that the financial figures in the performance announcement align with the audited consolidated financial statements for the year ended December 31, 2023[61]. Employee Metrics - The group had a total of 16,782 full-time employees as of December 31, 2023, compared to 15,166 employees as of December 31, 2022[56]. - The group’s employee costs for the year ended December 31, 2023, were approximately RMB 3.57 billion, reflecting an increase of 11.26% from RMB 3.21 billion for the year ended December 31, 2022[56].

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 6,677,315 thousand, a decrease of 7.9% compared to RMB 7,248,947 thousand for the same period in 2022[4] - Gross profit for the same period was RMB 1,109,105 thousand, down from RMB 1,287,287 thousand, reflecting a gross margin of approximately 16.6%[4] - Net profit for the period was RMB 80,675 thousand, a significant decline of 70.2% compared to RMB 271,133 thousand in the prior year[4] - Basic earnings per share decreased to RMB 0.0270 from RMB 0.1258, indicating a drop of 78.6% year-over-year[4] - Total comprehensive income for the period was RMB 62,627 thousand, down from RMB 212,852 thousand, representing a decline of 70.7%[5] - The company reported a loss from associates and joint ventures of RMB 192,155 thousand, compared to a loss of RMB 18,995 thousand in the previous year[4] - The financing costs for the period were RMB 59,413 thousand, slightly up from RMB 58,732 thousand in the prior year[4] - The company experienced a foreign exchange loss of RMB 25,611 thousand related to the translation of overseas financial statements[5] Assets and Liabilities - As of June 30, 2023, total non-current assets amounted to RMB 11,032,861 thousand, a slight decrease from RMB 11,156,290 thousand as of December 31, 2022[6] - The company's cash and cash equivalents decreased significantly to RMB 1,672,651 thousand from RMB 2,522,006 thousand, representing a decline of approximately 33.7%[6] - Current liabilities decreased to RMB 8,180,379 thousand from RMB 9,276,829 thousand, indicating a reduction of about 11.8%[7] - The net asset value stood at RMB 12,283,973 thousand, a marginal decrease from RMB 12,312,471 thousand[8] - The company's inventory increased to RMB 1,273,031 thousand from RMB 1,183,260 thousand, reflecting an increase of approximately 7.6%[6] - The total liabilities decreased to RMB 3,341,495 thousand from RMB 3,178,461 thousand, indicating a reduction of approximately 5.1%[7] Cash Flow - For the six months ended June 30, 2023, the net cash used in operating activities was RMB (750,728) thousand, compared to RMB (438,368) thousand for the same period in 2022[12] - The net cash generated from investing activities was RMB 331,900 thousand for the six months ended June 30, 2023, compared to RMB 139,441 thousand in the prior year[12] - The net cash used in financing activities amounted to RMB (435,306) thousand for the six months ended June 30, 2023, compared to RMB (129,077) thousand in the same period of 2022[12] Revenue Segments - The revenue from software development and technical services was RMB 2,500,584,000, an increase of 15.9% from RMB 2,156,607,000 in the previous year[22] - The big data products and solutions segment reported a profit of RMB 214,929,000, representing a growth of 24% compared to the previous period[18] - The revenue from supply chain operations was RMB 1,070,147,000, a decrease of 10.6% from RMB 1,197,501,000 in the previous year[22] - The total contract revenue from customers was RMB 6,509,790,000, a decrease of 7.9% from RMB 7,070,153,000 in the previous year[23] Research and Development - Research and development costs for the period were RMB 289,782,000, compared to RMB 272,829,000 in the previous year, reflecting a year-on-year increase of approximately 6.2%[25] - The company incurred research and development costs and intangible asset purchases totaling RMB 193,032,000 in the big data products and solutions segment[18] Shareholder Information - The company declared an interim dividend of HKD 0.01 per share, totaling approximately HKD 16,736,000, which was announced after the reporting period[30] - The total number of shares held by the directors and CEO amounts to 333,498,538, representing approximately 19.93% of the total equity[66] - The company has granted stock options to various executives, with a total of 54,000,000 options granted to Mr. Guo Wei, which remain unexercised as of June 30, 2023[70] Corporate Governance - The audit committee reviewed the unaudited interim results for the six months ended June 30, 2023, with no objections to the accounting treatments adopted[83] - The company has complied with the corporate governance code, with some deviations justified by the board[84] - The board believes that the current arrangements for non-executive and independent non-executive directors are effective and have been in place for many years[85] Future Outlook - The management indicated a focus on improving operational efficiency and exploring new market opportunities to drive future growth[5] - The company plans to leverage its "City CTO" and "Enterprise CSO" models to enhance digital transformation solutions across over 300 cities in China[54] - The company is actively planning to divest assets valued at approximately RMB 970 million into a new corporate entity to facilitate asset disposal[55]

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 6,677,315 thousand, a decrease of 7.89% compared to RMB 7,248,947 thousand in the same period of 2022[3] - Core profit attributable to shareholders of the parent company rose by 11.18% to RMB 232,510 thousand, compared to RMB 209,129 thousand in the previous year[3] - The total comprehensive income for the period was RMB 62,627 thousand, a decrease from RMB 212,852 thousand in the same period last year[6] - The operating profit for the period was RMB 167,709,000, down from RMB 353,414,000 in the previous year, reflecting a decline of 52.6%[12] - The pre-tax profit for the six months ended June 30, 2023, was RMB 108,296,000, a decrease of 63.3% from RMB 294,682,000 in the same period of 2022[12] - The company generated RMB 6,509,790,000 in contract revenue from customers, down from RMB 7,070,153,000 in the previous year, indicating a decline of 7.9%[15] - The total signed contracts reached 5.403 billion yuan, marking a 36% year-on-year increase, while the unrecognized signed contracts amounted to 7.695 billion yuan, up 26% year-on-year, indicating strong future revenue potential[37] Revenue Segments - Revenue from big data products and solutions increased by 12.31% to RMB 1,109,908 thousand, up from RMB 988,279 thousand year-on-year[3] - The revenue from software development and technical services was RMB 2,500,584,000, an increase of 15.9% compared to RMB 2,156,607,000 in the previous year[14] - The big data products and solutions segment reported a profit of RMB 214,929,000 after deducting R&D costs and intangible asset amortization, representing a growth of 24% year-on-year[13] - The gross profit for the big data products and solutions segment was RMB 385,220,000, compared to RMB 374,488,000 in the same period last year, showing a slight increase[12] Earnings and Dividends - Basic earnings per share for the period were RMB 0.0270, down from RMB 0.1258 in the previous year[4] - The company declared an interim dividend of HKD 0.01 per share, payable on October 16, 2023[3] - The basic earnings per share for the six months ended June 30, 2023, was RMB 40,355,000, compared to RMB 190,134,000 for the same period in 2022, showing a decrease of about 79%[23] Assets and Liabilities - Non-current assets as of June 30, 2023, totaled RMB 11,032,861 thousand, slightly down from RMB 11,156,290 thousand as of December 31, 2022[7] - Current liabilities decreased to RMB 8,180,379 thousand from RMB 9,276,829 thousand at the end of the previous year[8] - Total equity as of June 30, 2023, was RMB 12,283,973 thousand, a slight decrease from RMB 12,312,471 thousand at the end of 2022[9] - The total assets of the company as of June 30, 2023, were approximately RMB 23.806 billion, with total liabilities of approximately RMB 11.522 billion and equity attributable to shareholders of approximately RMB 8.265 billion[41] Research and Development - Research and development expenses rose to RMB 289,782,000, up from RMB 272,829,000, representing an increase of about 6%[17] - Research and development expenses for big data products and solutions amounted to RMB 193 million, a year-on-year increase of 8%, with a compound annual growth rate of 17% over the past three years[31] Employee and Operational Metrics - The group employed 16,033 full-time employees as of June 30, 2023, an increase of 9.83% from 14,596 employees a year earlier[47] - Employee costs for the six months ending June 30, 2023, were approximately RMB 1.52 billion, a 7.78% increase from RMB 1.41 billion for the same period in 2022[47] Financial Management - The company reported interest income of RMB 6,969,000, an increase from RMB 4,377,000 in the previous year[16] - The company incurred financing costs of RMB 59,413,000, which is a marginal increase from RMB 58,732,000 in the previous year[12] - The interest expense on bank loans and other loans increased to RMB 27,997,000 from RMB 23,337,000, reflecting an increase of approximately 20%[17] Corporate Governance - The audit committee reviewed the unaudited interim results for the six months ending June 30, 2023, with no objections to the accounting treatments adopted[52] - The group has maintained compliance with corporate governance codes, with some deviations explained regarding the roles of the chairman and CEO[53] - The company has adopted the "Standard Code" for securities trading by directors, confirming compliance throughout the reporting period[55] Strategic Initiatives - The company actively participates in digital transformation projects, including a contract for the smart water project in Changchun City worth over RMB 250 million[33] - The company is focused on enhancing its data-driven integrated supply chain platform and plans to collaborate with more partners to support the digital transformation of traditional enterprises[34] - The company aims to eliminate information silos in the manufacturing sector by entering the industrial manufacturing OT field, enhancing smart upgrades of production lines[39] Future Outlook - The company plans to leverage knowledge graphs and digital twin technologies to provide comprehensive solutions for data assetization across industries, aiming to become a key partner in digital transformation[39] - The group plans to utilize the remaining unutilized proceeds for investments in healthcare big data or other potential investments and acquisitions by June 30, 2024[51]

Financial Performance - Total revenue for the fiscal year 2022 was RMB 17,750 million, representing a year-on-year increase of 3.77% compared to RMB 17,105 million in 2021[46]. - Revenue from big data products and solutions reached RMB 2,439 million, a significant increase of 25.89% from RMB 1,937 million in the previous year[46]. - Gross profit for the fiscal year 2022 was RMB 955 million, up 37.76% from RMB 693 million in 2021, with a gross margin of 39.14%[46]. - Cash flow from operating activities was RMB 526 million, reflecting a 16.04% increase from RMB 453 million in the previous year[46]. - The company's total revenue for 2022 was RMB 17.75 billion, representing a year-on-year growth of 4%[69]. - Revenue from big data products and solutions reached RMB 2.44 billion, showing a significant year-on-year increase of 26%[69]. - The company has a backlog of signed but unfulfilled orders amounting to RMB 6.56 billion, which is a 5% increase compared to the previous year[69]. - The gross profit from big data products and solutions reached RMB 955 million, accounting for 32% of total gross profit, an increase from 22% in the previous year[78]. Strategic Focus and Innovation - The company is focusing on becoming a leading big data technology company, leveraging core technologies in spatial-temporal big data and artificial intelligence[44]. - The company has developed innovative software products such as the Yan Yun DaaS and a unique urban knowledge graph platform, aimed at enhancing data assetization across industries[44]. - Strategic partnerships and projects have been established, including collaborations with financial institutions and government agencies to enhance digital solutions in various sectors[48]. - The company aims to enhance its core competitiveness through increased investment in technology research and development, focusing on intelligent innovation products[68]. - The company plans to expand its ecological layout by integrating upstream and downstream resources to foster innovation and development[69]. - The company is actively participating in the construction of national digital infrastructure and expanding its business in overseas markets, including Southeast Asia and Eastern Europe[68]. - The company has established a Future City Research Institute to innovate in urban data solutions and knowledge graph products[60]. - The company has launched new software products including a city knowledge graph platform and a low-code visual platform, enhancing its product architecture and flexibility[73]. Awards and Recognition - Shenzhou Holdings ranked 8th in the 2021 China Xinchuang Enterprise Top 30 on April 15, 2022[51]. - Shenzhou Holdings was selected as the 2nd in the 2022 China New Technology Top 100 Digital Economy category on September 20, 2022[52]. - Shenzhou Holdings' software subsidiary ranked 9th in the Beijing Technology Innovation Top 100 on September 26, 2022[53]. - Shenzhou Holdings received the 2022 Digital Economy Annual Leading Enterprise award on December 18, 2022[56]. - Shenzhou Holdings ranked 7th in the 2022 Digital Transformation Leading Enterprises Top 100 on December 20, 2022[56]. - The company has received multiple awards, including the 2022 Digital Economy Leading Enterprise and the 2022 Big Data Annual Enterprise Gold Award[70]. - The big data business achieved a continuous growth of 26% in 2022, ranking first in the "Top 50 Digital Twin Solution Providers" and awarded "2022 Leading Enterprise in Digital Economy"[158]. Corporate Governance - The company is committed to maintaining high standards of corporate governance to enhance transparency and accountability to shareholders[113]. - The board strictly adheres to governance laws and regulations applicable to its operating jurisdictions, ensuring compliance with regulatory guidelines[113]. - The company has maintained compliance with the corporate governance code, with deviations justified by the dual role of the Chairman and CEO, Mr. Guo Wei, since June 8, 2018[114]. - The board consists of nine members, including two executive directors, two non-executive directors, and five independent non-executive directors, with no significant relationships among them[117]. - The company has adopted a nomination policy to ensure continuity and appropriate leadership within the board[129]. - The Audit Committee consists of three independent non-executive directors, with Mr. Huang Wenzong serving as the chairman, ensuring oversight of financial reporting and risk management[124]. Risk Management - The company emphasizes the importance of effective risk management and internal control systems to achieve strategic objectives and safeguard shareholder assets[140]. - The top three significant risks identified for 2022 are competition risk, price risk, and reliance on major customers[146]. - Competition risk remains the primary risk, with price risk rising to the second position, and reliance on major customers dropping to third[146]. - The company has implemented control measures to address competition risk, including targeted market research and enhancing customer understanding[147]. - The audit committee believes that the group's risk management and internal control systems are effective and adequate for the fiscal year 2022[142]. Employee and Talent Management - The group has 15,166 full-time employees as of December 31, 2022, compared to 14,744 employees as of December 31, 2021[94]. - Employee costs for the year ended December 31, 2022, amounted to approximately RMB 3.207 billion, a 7.75% increase from RMB 2.977 billion for the year ended December 31, 2021[94]. - The overall employee turnover rate for 2022 was 26.13%, a decrease from 30.22% in 2021, indicating improved talent stability[200]. - The company has established an effective compensation and performance incentive system, combining base salary and performance bonuses to enhance employee cohesion and attract talent[194]. - Digital China strictly adheres to national labor laws and international labor organization principles, ensuring fair treatment of all employees regardless of age, gender, health, marital status, family situation, race, color, or nationality[193]. Environmental, Social, and Governance (ESG) - The company aims to integrate environmental, social, and governance (ESG) considerations into its business operations and management as part of its development strategy[162]. - The company is committed to becoming a leader in ESG practices by leveraging its innovative big data integration technology[162]. - The company is dedicated to reducing carbon emissions and improving energy usage in response to climate change challenges[172]. - The company has achieved multiple certifications, including ISO14001 and ISO5001, demonstrating its commitment to environmental management and energy efficiency[172]. - The company plans to incorporate "carbon neutrality risk" and "extreme weather operational risk" into its existing risk management framework in 2023[173].