（一）个人工作履历、专业背景以及兼职情况 孙林，1981 年 8 月出生，中共党员，历史学硕士，律师执照。上海市锦天 城律师事务所高级合伙人，上海市律师协会证券业务研究委员会副主任，上海政 法学院兼职教授，上海联合产权交易所企业增资评审专家。 本人于 2019 年 2 月起担任公司当选为第四届董事会独立董事，2021 年 1 月 当选为第五届董事会独立董事，2023 年 12 月当选为公司第六届董事会独立董事。 （二） 是否存在影响独立性的情况说明 税友软件集团股份有限公司 2023年年度独立董事述职报告（孙林） 本人作为税友软件集团股份有限公司（以下简称"公司"）的独立董事，2023 年度严格按照《中华人民共和国公司法》《中华人民共和国证券法》《上市公司独 立董事管理办法》《上海证券交易所股票上市规则》以及《公司章程》等相关法 律、法规、规章的规定和要求，忠实勤勉地履行职责，积极出席相关会议，认真 审议董事会各项议案，对公司重大事项发表了独立意见，切实维护公司和公众股 东的合法权益，特别是中小投资者的合法权益，促进公司规范运作，充分发挥了 独立董事及各专门委员会的作用。现将我在 2023 年度履行独立董事职 ...

税友软件集团股份有限公司 关于股权激励限制性股票回购注销实施公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 证券代码：603171 证券简称：税友股份 公告编号：2024-007 重要内容提示： ● 回购注销原因：鉴于税友软件集团股份有限公司（以下简称"公司"）2023 年限制性股票激励计划（以下简称"本激励计划"）首次授予的 3 名激励对象离 职，已不符合公司本激励计划中有关激励对象的规定，公司董事会决定对其已获 授但尚未解除限售的 42,000 股限制性股票进行回购注销。 ● 本次注销股份的有关情况 | 回购股份数量 | 注销股份数量 | 注销日期 | | | | --- | --- | --- | --- | --- | | 42,000 | 42,000 | 年 月 2024 4 | 12 | 日 | 一、本次限制性股票回购注销的决策与信息披露 1、2024年2月23日，公司召开第六届董事会第二次会议、第六届监事会第二 次会议，审议通过了《关于回购注销部分激励对象已获授但尚未解除限售的限制 性股票的议案》，鉴于公 ...

Investment Rating - The report assigns a "Buy" rating to the company, with a target price of 38.21 CNY per share based on a comprehensive valuation of approximately 156 billion CNY [5][122]. Core Insights - The company's 2B business is driving growth, benefiting from natural synergies with its 2G business. The unique nature of tax information technology provides a competitive advantage in serving both government and enterprise clients. The company's direct sales system is a significant barrier to entry, and the revenue growth of the 2B business has been expanding in recent years, supported by digital operations and AI technology [1][2][3]. Summary by Sections 1. Business Performance - The company has established itself as a leading provider in the tax information technology sector, with a notable performance in its 2B business. The revenue growth rate for the 2B business has improved from -9.4% in 2020 to +10% in 2022 and +14% in the first half of 2023, driven by rapid growth in tax agency and innovative business services [12][90]. 2. Market Dynamics - The core drivers of tax information technology demand include legal compliance and tax planning, with additional needs arising from digital transformation. The company targets small and micro enterprises with integrated tax solutions and high-value services, which have led to an increase in average revenue per user (ARPU) [2][18][118]. 3. Financial Projections - The company forecasts revenues of 18.46 billion CNY, 22.26 billion CNY, and 27.51 billion CNY for the years 2023 to 2025, with year-on-year growth rates of 8.7%, 20.6%, and 23.6% respectively. The net profit attributable to the parent company is expected to be 1.39 billion CNY, 2.76 billion CNY, and 3.68 billion CNY for the same period, with growth rates of -3.6%, 99.4%, and 33.3% [30][122]. 4. Valuation Methodology - The report suggests using a segmented valuation approach, applying a PE ratio for the 2G business and a PS ratio for the 2B business. The 2G business is projected to have a revenue of 8.29 billion CNY in 2024, valued at approximately 16.57 billion CNY, while the 2B business is expected to generate 13.90 billion CNY, valued at around 139.05 billion CNY [122].

Investment Rating - The investment rating for the company is "Buy" (maintained) [5][7]. Core Views - The company launched its first data product, "Enterprise Operation Invoice Tax Financial Association Analysis," on the Shanghai Data Exchange, which automates the calculation of invoices, taxes, and financial information for enterprises [5][6]. - The product is priced at 1 yuan per year per enterprise label and is aimed at small micro-loans and supply chain finance [5]. - The company has a significant user base with 4.9 million paying B-end users and 7.7 million active users, indicating strong market demand for its data products [6]. Financial Summary - Total revenue is projected to grow from 2.004 billion yuan in 2023 to 2.985 billion yuan in 2025, reflecting a compound annual growth rate (CAGR) of approximately 23.1% [4][7]. - The net profit attributable to the parent company is expected to increase from 283 million yuan in 2023 to 497 million yuan in 2025, with a notable growth rate of 96.8% in 2023 [4][7]. - Earnings per share (EPS) are forecasted to rise from 0.70 yuan in 2023 to 1.22 yuan in 2025 [4][7].

Investment Rating - The report assigns an **OUTPERFORM** rating to Servyou Software Group with a target price of **RMB 38.88** [1] Core Viewpoints - Servyou Software Group is a leading domestic tax digital government system service provider and SaaS cloud platform provider for finance and taxation, focusing on digital government services (To G) and SaaS subscription and consulting services (To B) [1] - The company achieved a revenue of **RMB 1.195 billion** in Q3 2023, a YoY growth of **10.8%**, and a net profit attributable to shareholders of **RMB 103 million**, a YoY growth of **13.0%** [1] - The company is expected to benefit from the dual drivers of B-end business and data services, with projected YoY growth rates of **25%**, **30%**, and **25%** for the To B sector from 2023 to 2025, and **3%**, **10%**, and **15%** for the To G sector [7] Financial Performance - In 2023, the company is expected to achieve a revenue of **RMB 1.959 billion**, a YoY growth of **15.4%**, and a net profit attributable to shareholders of **RMB 181 million**, a YoY growth of **25.9%** [3] - The company's gross margin is expected to be **56.2%** in 2023, with a return on equity (ROE) of **6.8%** [3] - By 2025, the company's revenue is projected to reach **RMB 2.906 billion**, with a net profit attributable to shareholders of **RMB 502 million** and an ROE of **14.3%** [3] Business Segments - **To B SaaS Subscription & Consulting Services**: This segment is expected to grow at a CAGR of **25%** from 2023 to 2025, with a gross margin of **73%** [10] - **To G Digital Government Services**: This segment is expected to grow at a CAGR of **10%** from 2023 to 2025, with a gross margin of **35%** in 2024 [10] Industry Trends - The release of new accounting regulations is expected to further expand the demand for financial and tax SaaS, with Servyou's "Yiqi Accounting" SaaS platform having **6.5 million active users** and **4.3 million paying users** as of H1 2023, a **13.2% increase** from the beginning of the year [2] - The company is actively deploying artificial intelligence, with a tax-specific AI model covering **8 million enterprises** and **10 million relationship knowledge graphs**, and has launched an "Intelligent Tax Management Product" to improve service efficiency and quality [5] Data Element Opportunities - The company is expected to deeply participate in the development of data elements, with applications in both government and enterprise sectors, including tax source analysis, regional economic analysis, and precision marketing [6]

Investment Rating - The report assigns an "Outperform" rating to the company [27]. Core Viewpoints - The company is a leading player in the domestic tax SaaS sector, showing steady growth in performance. It has two main business segments: To G digital government services and To B SaaS subscription and consulting services. The company has capitalized on the digital transformation of tax and finance, achieving revenue and net profit growth in the first three quarters of 2023 [3][32]. - The company is expected to benefit from the recent "Data Element x" three-year action plan (2024-2026) issued by the National Data Bureau and other departments, which aims to enhance financial services for the real economy through the integration of tax data [5][32]. - The company is actively developing artificial intelligence capabilities, with a focus on creating a tax AI model that encompasses a vast knowledge base and has the potential to enhance business operations [18][32]. Summary by Sections Financial Performance - In the first three quarters of 2023, the company achieved operating revenue of 1.195 billion yuan, a year-on-year increase of 10.8%, and a net profit attributable to the parent company of 103 million yuan, up 13.0% year-on-year. The net profit excluding non-recurring items reached 85 million yuan, a significant increase of 39.1% [3][32]. - The company forecasts operating revenue of 1.959 billion yuan for 2023, with a year-on-year growth rate of 15.4%, and a net profit of 181 million yuan, representing a 25.9% increase [22][32]. Business Segments - The To B SaaS subscription and consulting services are expected to grow at rates of 25%, 30%, and 25% from 2023 to 2025, driven by the digital transformation of tax management [32]. - The To G digital government services are projected to recover in 2024, with expected growth rates of 3%, 10%, and 15% from 2023 to 2025 [32]. Market Position and Strategy - The company has positioned itself to leverage the increasing demand for digital tax services, particularly in light of new regulations that encourage the use of digital management systems among accounting agencies [32]. - The company has a strong focus on enhancing its service offerings through the integration of AI technologies, which is expected to drive future business growth [18][32].

证券简称：税友股份 证券代码：603171 上海荣正企业咨询服务（集团）股份有限公司 关于 税友软件集团股份有限公司 2023 年限制性股票激励计划回购注销部分 限制性股票相关事项 之 独立财务顾问报告 二零二四年二月 | 一、释义 | | --- | | 二、声明… | | 三、基本假设………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… 4 | | 四、本激励计划已经履行的审批程序 | | 五、独立财务顾问意见 | | (一) 关于本次回购注销部分限制性股票的说明 | | (二) 结论性意见 … | | 六、备查文件及咨询方式… | | (一) 备查文件 … | | (一) 咨询方式 | 一、释义 本独立财务顾问报告中，除非文义载明，下列简称具有如下含义： | 税友股份、本公司、 | 指 | 税友软件集团股份有限公司 | | --- | --- | --- | | 公司 | | | | 独立财务顾问 | 指 | 上海荣正企业 ...

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、通知债权人的原由 税友软件集团股份有限公司（以下简称"公司"）于 2024 年 2 月 23 日召开第 六届董事会第二次会议和第六届监事会第二次会议，审议通过《关于回购注销部 分激励对象已获授但尚未解除限售的限制性股票的议案》。鉴于公司 2023 年限 制性股票激励计划首次授予的 3 名激励对象已离职，根据公司《2023 年限制性 股票激励计划（草案）》的相关规定，公司董事会决定对其已获授但尚未解除限 售的 42,000 股限制性股票进行回购注销。本次回购注销完成后，公司总股本将 由 407,229,500 股减少至 407,187,500 股，注册资本由人民币 407,229,500 元减少 至人民币 407,187,500 元。具体内容详见公司披露于上海证券交易所网站 （www.sse.com.cn）的《税友软件集团股份有限公司关于回购注销部分激励对象 已获授但尚未解除限售的限制性股票的公告》（公告编号：2024-005）。 二、需债权人知晓的相关情况 由于公司本次回购注 ...

证券代码：603171 证券简称：税友股份 公告编号：2024-003 税友软件集团股份有限公司 第六届董事会第二次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 税友软件集团股份有限公司（以下简称"公司"）第六届董事会第二次会议通 知已于 2024 年 2 月 18 日以电子邮件方式送达，会议于 2024 年 2 月 23 日在公司 会议室以现场和通讯相结合的方式召开。本次会议应出席董事 9 人，实际出席董 事 9 人，会议由董事长张镇潮先生主持。公司监事及部分高级管理人员列席会议。 本次会议的通知、召开、表决程序符合《公司法》《公司章程》等法律法规的规 定，会议合法有效。出席会议的董事对议案进行了认真审议并做出了如下决议： 二、董事会会议审议情况 （一）审议通过《关于回购注销部分激励对象已获授但尚未解除限售的限 制性股票的议案》 具体内容详见公司于上海证券交易所网站（www.sse.com.cn）及指定媒体披 露的《税友软件集团股份有限公司关于回购注销部分激励对象已获授但尚未解除 限售 ...

证券代码：603171 证券简称：税友股份 公告编号：2024-004 监事会认为：公司 2023 年限制性股票激励计划首次授予的 3 名激励对象已 离职，根据《上市公司股权激励管理办法》及公司《2023 年限制性股票激励计 划（草案）》（以下简称"《激励计划》"）的有关规定，上述激励对象已获授 但尚未解除限售的 42,000 股限制性股票应当由公司回购注销。 公司本次回购注销部分激励对象已获授但尚未解除限售的限制性股票符合 公司《激励计划》及相关法律法规的规定，程序合法合规，不会对公司的财务状 况和经营成果产生实质性影响，也不会损害公司及全体股东利益。因此，监事会 同意公司本次回购注销部分激励对象已获授但尚未解除限售的限制性股票。 具体内容详见公司于上海证券交易所网站（www.sse.com.cn）及指定媒体披 露的《税友软件集团股份有限公司关于回购注销部分激励对象已获授但尚未解除 限售的限制性股票的公告》（公告编号：2024-005）。 税友软件集团股份有限公司 第六届监事会第二次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完 ...