Revenue and Profit - Revenue for the third quarter reached RMB 1,213,824,108.41, a year-on-year increase of 10.53%[2] - Net profit attributable to shareholders of the listed company was RMB 318,439,231.61, up 8.33% compared to the same period last year[2] - Revenue for Q3 2024 reached 1,213.82 million yuan, a year-on-year increase of 10.53%[12] - Net profit attributable to the parent company in Q3 2024 was 318.44 million yuan, up 8.33% year-on-year[12] - Total revenue for the first three quarters of 2024 reached 3,626,818,036.47 RMB, an increase from 3,270,364,301.43 RMB in the same period of 2023[20] - Net profit attributable to the parent company increased to 4,726,649,504.98 RMB as of September 30, 2024, compared to 4,093,062,809.70 RMB at the end of 2023[19] - Net profit attributable to parent company shareholders reached RMB 1,039.88 million, an increase of 16.4% compared to the same period last year[21] - Operating profit increased by 15.1% to RMB 1,093.30 million[21] - Total comprehensive income amounted to RMB 1,040.36 million, up 16.6% year-on-year[22] R&D Investment - R&D investment for the quarter totaled RMB 454,060,467.85, accounting for 37.41% of the revenue, an increase of 4.74 percentage points[3] - R&D expenses for the first three quarters of 2024 amounted to 1,261,587,792.71 RMB, up from 1,075,926,225.29 RMB in the same period of 2023[20] Assets and Liabilities - Total assets as of the end of the reporting period were RMB 14,668,786,281.03, a 4.97% increase from the end of the previous year[3] - Total assets as of September 30, 2024, were 14,668,786,281.03 RMB, compared to 13,974,021,307.95 RMB at the end of 2023[19] - Current assets decreased to 5,794,834,233.60 RMB as of September 30, 2024, from 10,146,960,782.49 RMB at the end of 2023[17] - Non-current assets increased significantly to 8,873,952,047.43 RMB as of September 30, 2024, from 3,827,060,525.46 RMB at the end of 2023[18] - Long-term equity investments rose to 1,504,080,697.75 RMB as of September 30, 2024, compared to 1,094,062,948.51 RMB at the end of 2023[17] - Contract liabilities increased to 1,990,371,548.18 RMB as of September 30, 2024, from 1,891,874,143.93 RMB at the end of 2023[18] - Total liabilities decreased slightly to 3,893,505,691.69 RMB as of September 30, 2024, from 3,954,415,069.13 RMB at the end of 2023[19] - Shareholders' equity increased to 10,775,280,589.34 RMB as of September 30, 2024, from 10,019,606,238.82 RMB at the end of 2023[19] Cash Flow - Operating cash flow for the quarter was RMB 451,156,862.60, a significant year-on-year increase of 31.20%[2] - Cash received from sales of goods and services grew by 17.9% to RMB 3,930.06 million[23] - Net cash flow from operating activities increased by 14.9% to RMB 1,079.49 million[23] - Cash outflow for investments surged by 30.8% to RMB 13,604.08 million[24] - Net cash flow from financing activities decreased by 31.4% to RMB -484.42 million[24] - Cash and cash equivalents at the end of the period stood at RMB 540.62 million, down 83.7% from the beginning of the year[24] Earnings Per Share and ROE - Basic earnings per share for the quarter were RMB 0.69, up 7.81% from the same period last year[2] - Weighted average return on equity (ROE) for the quarter was 3.03%, a decrease of 0.14 percentage points[3] - Basic earnings per share rose to RMB 2.25, a 16.0% increase from the previous year[22] Non-Recurring Items - Non-recurring gains and losses for the quarter amounted to RMB 15,264,864.39[5] Shareholding and Shareholders - Kingsoft WPS Corporation Limited holds 51.54% of the company's shares[8] - The number of ordinary shareholders at the end of the reporting period was 22,835[8] Product and Service Performance - Monthly active devices for the main product reached 618 million, a year-on-year increase of 4.92%[14] - WPS Office PC version monthly active devices were 277 million, up 6.95% year-on-year[14] - WPS Office mobile version monthly active devices were 338 million, up 3.36% year-on-year[14] - Domestic personal office service subscription revenue in Q3 2024 was 761.72 million yuan, up 17.24% year-on-year[13] - Domestic institutional subscription and service revenue in Q3 2024 was 248.23 million yuan, up 0.02% year-on-year[13] - Domestic institutional licensing revenue in Q3 2024 was 142.88 million yuan, up 8.97% year-on-year[13] - International and other business revenue in Q3 2024 was 60.75 million yuan, down 10.43% year-on-year[13]

证券代码：688111 证券简称：金山办公 公告编号：2024-059 北京金山办公软件股份有限公司 关于公司 2022 年限制性股票激励计划首次授予部分第二类 激励对象第二个归属期符合归属条件的公告 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。 重要内容提示： 一、股权激励计划批准及实施情况 （一）本次股权激励计划的主要内容 1、股权激励方式：第二类限制性股票。 2、授予数量：2022 年限制性股票激励计划（以下简称"本激励计划"）拟 向激励对象授予 100.00 万股限制性股票，约占本激励计划草案公告时公司股本 总额 46,100.00 万股的 0.22%。其中首次授予 80.00 万股，约占本激励计划草案公 告时公司股本总额的 0.17%，首次授予部分占本次授予权益总额的 80.00%；预 留 20.00 万股，约占本激励计划草案公告时公司股本总额的 0.04%，预留部分占 本次授予权益总额的 20.00%。 3、授予价格（调整后）：43.55 元/股。 4、归属期限及归属安排如下： 根据岗位职责及激励需求不同，在综合 ...

证券代码：688111 证券简称：金山办公 公告编号：2024-056 北京金山办公软件股份有限公司 高级管理人员集中竞价减持股份结果公告 本公司董事会、全体董事及相关股东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、准确性和完整性依法承担法律责任。 重要内容提示： 高级管理人员持股的基本情况 本次减持计划实施前，北京金山办公软件股份有限公司（以下简称"公司"） 高级管理人员、财务负责人崔研（CUI YAN）女士持有公司 30,000 股股份，占 公司总股本比例为 0.0065%，上述股份为通过公司限制性股票激励计划取得。 一、集中竞价减持主体减持前基本情况 股东名称 股东身份 持股数量（股） 持股比例 当前持股股份来源 CUI YAN 董事、监事、高 级管理人员 30,000 0.0065% 其他方式取得：30,000 股 二、集中竞价减持计划的实施结果 （一）大股东及董监高因以下事项披露集中竞价减持计划实施结果： 减持计划实施完毕 | 股东名称 | 减持数量 | 减持比例 | 减持期间 | 减持方式 | 减持价格区间 | 减持总金额 | 减持完成情况 | 当前持股 | 当 ...

Investment Rating - The report maintains a "Buy" rating for the company with a 6-month outlook [4] Core Viewpoints - The company is expected to significantly benefit from the new innovation cycle in the technology sector, with upward revisions to profit forecasts for the next three years [1] - The technology innovation sector is entering a 2.0 phase, driven by policy support and a trillion-yuan national bond issuance, which is expected to boost the sector's growth [1] - The company's institutional licensing business is projected to experience rapid growth due to the expansion of the technology innovation market, particularly in the government and enterprise sectors [2][3] Financial Forecasts - Revenue forecasts for 2024-2026 have been revised upward from 51.37/60.75/73.16 billion yuan to 52.20/64.75/80.95 billion yuan, representing growth rate adjustments of 2pct/6pct/5pct [6] - Net profit attributable to the parent company is expected to increase from 15.52/19.54/24.05 billion yuan to 16.16/22.91/30.66 billion yuan for 2024-2026 [6] - The company's EPS is projected to grow from 2.42/2.85/3.49 yuan per share in 2022-2024 to 4.95/6.63 yuan per share in 2025-2026 [6] Market Opportunities - The government sector has a PC replacement potential of nearly 2000 million units, with an estimated annual replacement of 400/450/500 million units from 2024-2026, creating a revenue opportunity of 20/22.5/25 billion yuan for the company's office software [3] - The company's office software products are expected to see increased demand from government and enterprise users, driven by the technology innovation policies and funding support [2][3] Financial Performance - The company's revenue growth rate is projected to be 14.58% in 2024, increasing to 24.05% and 25.02% in 2025 and 2026, respectively [6] - The company's net profit growth rate is expected to rise from 22.66% in 2024 to 41.76% in 2025 and 33.83% in 2026 [6] - The company's ROE is forecasted to increase from 14.44% in 2024 to 17.93% in 2025 and 20.58% in 2026 [8] Valuation Metrics - The company's P/E ratio is expected to decrease from 53.22 in 2024 to 37.55 in 2025 and 28.06 in 2026 [6] - The P/B ratio is projected to decline from 7.69 in 2024 to 6.73 in 2025 and 5.77 in 2026 [6] - The EV/EBITDA ratio is forecasted to drop from 44.31 in 2024 to 30.92 in 2025 and 22.36 in 2026 [6]

金山办公（688111）/计算机 证券研究报告/公司点评 2024 年 9 月 1 日 [Table_Title] 评级：买入（维持） 市场价格：182.21 元/股 [Table_Industry] 分析师：闻学臣 执业证书编号：S0740519090007 分析师：何柄谕 执业证书编号：S0740519090003 Email：heby@zts.com.cn | --- | --- | |---------------------------|--------| | | | | [Table_Profit] 基本状况 | | | 总股本 ( 百万股 ) | 463 | | 流通股本 ( 百万股 ) | 463 | | 市价 ( 元 ) | 182.21 | | 市值 ( 百万元 ) | 84,277 | | 流通市值 ( 百万元 ) | 84,277 | [Table_QuotePic] 股价与行业-市场走势对比 公司持有该股票比例 相关报告 1《金山办公（688111）：双订阅维 持高增，AI 加速商业化落地》 2《金山办公（688111）：双订阅收 入继续高增，WPS AI 打开成长空间》 3《金山办 ...

分析师：唐月 登记编码：S0730512030001 tangyue@ccnew.com 021-50586737 云服务 订阅业务占比持续提升，AI 应用加速落 地 ——金山办公(688111)半年报分析 发布日期：2024 年 09 月 04 日 投资要点： 证券研究报告-公司分析 增持(维持) | --- | --- | |---------------------------------------|---------------------| | 市场数据 (2024-09-03) \n收盘价 ( 元 ) | 173.72 | | 一年内最高 / 最低 ( 元 ) | 386.17/168.53 | | 沪深 300 指数 | 3,273.43 | | 市净率 ( 倍 ) | 7.75 | | 流通市值 ( 亿元 ) | 803.50 | | 基础数据 (2024-06-30) | | | 每股净资产 ( 元 ) | 22.42 | | 每股经营现金流 ( 元 ) | 1.36 | | 毛利率 (%) | 84.92 | | 净资产收益率 _ 摊薄 (%) | 6.96 | | 资产负债率 (%) ...

关于参加 2024 年半年度软件行业集体业绩说明会的公告 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：688111 证券简称：金山办公 公告编号：2024-055 北京金山办公软件股份有限公司 重要内容提示： https://roadshow.sseinfo.com/） 会议召开方式：网络文字互动 投资者可于 2024 年 9 月 12 日（星期四）16:00 前通过邮件、电话形式将 需要了解和关注的问题提前提供给公司。公司将在文字互动环节对投资者 普遍关注的问题进行回答。 北京金山办公软件股份有限公司（以下简称"公司"）已于 2024 年 8 月 21 日 在上海证券交易所网站（www.sse.com.cn）披露公司 2024 年半年度报告。为便于 广大投资者更全面深入地了解公司 2024 年半年度经营成果、财务状况、发展理 念，公司将参与由上海证券交易所主办的 2024 年半年度软件行业集体业绩说明 会，此次活动将采用网络文字互动的方式举行，投资者可登录上海证券交易所上 证路演中心（http://roadsh ...

证券研究报告 | 公司动态点评 2024 年 09 月 02 日 金山办公（688111.SH） SaaS 转型顺利，WPSAI 持续升级 | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------|-------|-------|-------|-------|-------|-----------------------------------------|-----------| | 财务指标 | 2022A | 2023A | 2024E | 2025E | 2026E | 买入（维持评级） | | | 营业收入（百万元） | 3,885 | 4,556 | 5,468 | 6,535 | 8,332 | | | | 增长率 yoy （ % ） | 18.4 | 17.3 | 20.0 | 19.5 | 27.5 | 股票信息 | | | 归母净利润（百万元） | 1,118 | 1,318 | 1,519 | 1,785 | 2,116 | 行业 | 计算机 | | 增 ...

证券研究报告 | 公司动态点评 2024 年 09 月 02 日 金山办公（688111.SH） SaaS 转型顺利，WPSAI 持续升级 | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------|-------|-------|-------|-------|-------|------------------------------------------------------------|------------------| | 财务指标 | 2022A | 2023A | 2024E | 2025E | 2026E | 买入（维持评级） | | | 营业收入（百万元） | 3,885 | 4,556 | 5,468 | 6,535 | 8,332 | 股票信息 | | | 增长率 yoy （ % ） | 18.4 | 17.3 | 20.0 | 19.5 | 27.5 | | | | 归母净利润（百万元） | 1,118 | 1,318 | 1,519 | 1,785 | 2,116 | 行业 | 计算机 | ...

2024年08月23日 证券研究报告|公司研究|公司点评 | --- | --- | |--------------------------------------------------------------------|-------| | 金山办公 (688111) | | | 2024 半年报点评:To C 拉动订阅业务成长,AI+办 | | | | | | 公赋能在路上 | | | 事件:公司 2024年上半年实现营业收入 24.13 亿元(+11.09%),归母净 | | | 利润 7.21 亿元（+20.38%）, 扣非净利润6.88 亿元（+19.35%）。 | | | | | | To C 收入拉动订阅业务成长,"服务 SaaS 化+产品 AI 化"战略稳健。� | | | 报告期内,公司营业收入保持稳健增长。其中,订阅业务作为公司的核心增 | | | 长引擎收入 19.73 亿元，总收入占比约 82%，同比提升近 5 个百分点。从 | | | 收入结构来看,(1) 国内个人办公服务订阅业务收入 15.30 亿元 | | | (+22.17%)。期末，主要产品月度活跃设备数为 6.02亿（ ...