Financial Performance - In the first three quarters of 2024, the company achieved revenue of 1.258 billion CNY, a year-on-year decrease of 8.71% [2] - The net profit attributable to shareholders for the same period was -14 million CNY, with the loss narrowing by 84.38% year-on-year [2] - In Q3 2024, the company recorded a profit of 9.7767 million CNY, indicating a gradual recovery [2] Business Segment Performance - **Smart Procurement**: Generated revenue of 584 million CNY, down 2.46% year-on-year; procurement operation revenue was 269 million CNY, up 7.85% [2] - **Smart Government**: Achieved revenue of 470 million CNY, with a year-on-year decrease [3] - **Digital Construction**: Revenue was 197 million CNY, a decline of 8.95% year-on-year [3] Key Financial Metrics - Gross margin stood at 60.94%, an increase of 4.86 percentage points year-on-year [3] - Management expense ratio was 9.51%, down 0.46 percentage points [3] - Sales expense ratio was 29.96%, down 0.47 percentage points [3] - R&D expense ratio was 27.12%, down 0.29 percentage points [3] Strategic Developments - The company signed a strategic cooperation agreement with Huawei Cloud in September 2024 to develop joint solutions in government and data resource sectors [5] - The company is actively participating in the development of public data resource policies, with a focus on expanding its data element business [4][5] Regulatory and Market Context - The State Council issued a three-year action plan for government procurement, which is expected to drive demand for the company's services [2] - The Ministry of Housing and Urban-Rural Development released a digital construction layout plan, aiming for significant achievements by the end of 2027 [5]

Investment Rating - The report maintains a "Recommended" rating for the company, indicating a positive outlook based on its potential to benefit from future fiscal policies and its leading position in digital transformation for government sectors [1]. Core Insights - The company reported a turnaround in Q3 2024, achieving a net profit of 9.78 million yuan, compared to a loss of 8.9 million yuan in the same period last year. Revenue for Q3 reached 474 million yuan, marking a year-on-year increase of 1.63% [1]. - A strategic partnership with Huawei Cloud was established to enhance digital government transformation, focusing on key industries such as public administration, energy, and manufacturing [1]. - The company is expanding its procurement operation business through a SaaS model, which has shown significant growth with a 54.76% increase in the number of service areas [1]. - Collaboration with Changsha aims to explore the implementation of data elements, enhancing the value of government data and supporting various applications in healthcare, smart cities, and financial services [1]. - Profit forecasts for the company indicate a net profit of 237 million yuan in 2024, with projections of 307 million yuan and 380 million yuan for 2025 and 2026, respectively [2][4]. Financial Summary - For 2023, the company expects total revenue of 2,441 million yuan, with a projected decline of 13.6%. However, revenue is anticipated to recover in subsequent years, reaching 3,213 million yuan by 2026, reflecting a growth rate of 22.2% [2][4]. - The net profit for 2023 is projected at 195 million yuan, with a significant recovery expected in 2024 at 237 million yuan, representing a growth rate of 21.9% [2][4]. - The company's PE ratio is expected to decrease from 58 in 2023 to 30 by 2026, indicating an improving valuation as profitability increases [2][4].

Investment Rating - The report maintains a "Buy" rating for the company with an updated target price of 44.20 CNY [3][4]. Core Views - The company's performance is in line with expectations, and the profit forecast remains unchanged. Revenue projections for 2024-2026 are 2.185 billion, 2.354 billion, and 2.565 billion CNY, respectively, with EPS of 0.73, 0.88, and 0.97 CNY [3]. - The company has returned to revenue growth in Q3 2024, with a 1.63% year-on-year increase, indicating resilience in its platform operations, which are expected to be a major growth driver [3]. - The company has shown improved financial health, with a significant reduction in losses and a net profit margin recovery, suggesting a positive trend in operational quality [3][4]. Summary by Sections Financial Performance - For the first three quarters of 2024, the company reported a revenue of 1.258 billion CNY, a year-on-year decline of 8.71%. However, Q3 alone saw a revenue of 474 million CNY, marking a 1.63% increase year-on-year [3]. - The company incurred a loss of 13.89 million CNY in the first three quarters, a significant improvement from the previous year's loss, with the net profit margin improving from -6.45% to -1.10% [3][4]. Revenue and Profit Forecast - The revenue forecast for 2024 is set at 2.185 billion CNY, with expected growth in subsequent years to 2.354 billion CNY in 2025 and 2.565 billion CNY in 2026. EPS is projected to increase from 0.73 CNY in 2024 to 0.97 CNY in 2026 [3][4]. - The report highlights that the company's platform business is expected to be more resilient during industry downturns, as it is tied to government procurement rather than just IT spending [3]. Market Context - The report notes that the government's recent measures to alleviate local debt risks could provide a favorable environment for the company's operations, particularly in platform services that are closely linked to fiscal spending [3].

Investment Rating - The investment rating for the company is "Buy" (maintained) [8] Core Insights - The company has shown a continuous narrowing of losses, with Q3 revenue achieving positive year-on-year growth. The overall profit loss is also decreasing, indicating a positive trend driven by cost reduction and efficiency improvements. The company is actively promoting SaaS solutions and is expected to benefit from recent policy guidance aimed at central state-owned enterprises, which may enhance its market performance throughout the year [5][6] Financial Performance - For the first three quarters of 2024, the company reported revenue of 1.258 billion (down 8.71% year-on-year) and a net loss attributable to shareholders of 0.14 billion (continuing to narrow losses). In Q3 alone, revenue was 0.474 billion (up 1.63% year-on-year), with a net profit of 0.10 billion (turning profitable) [3][5] - The gross margin for the first three quarters was 60.94%, a decrease of 2.09 percentage points year-on-year, while Q3's gross margin was 60.22%, down 4.30 percentage points year-on-year [3] - Operating cash flow for the first three quarters was -0.178 billion, but Q3 saw a significant improvement with a net cash flow of 0.052 billion (up 474.34% year-on-year) [3] Expense Ratios - For the first three quarters, the expense ratios were 29.96% for sales, 9.51% for management, and 27.12% for R&D, with sales expenses decreasing by 7.42 percentage points year-on-year. In Q3, these ratios were 26.42% for sales, 7.99% for management, and 23.18% for R&D, showing a continued reduction in expenses [4] Earnings Forecast and Valuation - The company is projected to achieve revenues of 2.24 billion, 2.56 billion, and 2.99 billion for 2024, 2025, and 2026, respectively, with year-on-year growth rates of 8.13%, 14.28%, and 16.49%. Corresponding net profits are expected to be 0.235 billion, 0.284 billion, and 0.341 billion, with growth rates of 20.74%, 20.61%, and 20.40% [6][10]

Investment Rating - The report maintains a "Buy" rating for the company, anticipating a price increase of over 15% in the next 6-12 months [4][12]. Core Views - The company reported a revenue of 1.26 billion yuan for the first three quarters of 2024, a year-on-year decrease of 8.7%. However, the net profit attributable to shareholders improved significantly, reaching 9.78 million yuan in Q3, compared to a loss of 88.92 million yuan in the same period last year [2]. - The company is actively pursuing cost reduction and efficiency improvement strategies, with total costs and expenses decreasing by 13.7% year-on-year in the first three quarters. The gross margin for Q3 was 60.2%, slightly down by 0.8 percentage points [3]. - The company has launched a municipal data authorization operation platform in Changsha, creating 16 types of government data operation scenarios, and has signed a strategic cooperation agreement with Huawei Cloud to enhance collaboration in data governance and smart government [3]. Summary by Sections Performance Review - For the first three quarters of 2024, the company achieved a revenue of 1.26 billion yuan, down 8.7% year-on-year, while the net profit attributable to shareholders was -13.89 million yuan, a significant improvement from -88.92 million yuan in the previous year [2]. Operational Analysis - The company has successfully reduced costs and expenses, with a total decrease of 13.7% year-on-year in the first three quarters. The Q3 gross margin was 60.2%, with slight changes in expense ratios: sales expenses at 26.4%, management expenses at 8.0%, and R&D expenses at 23.2% [3]. - The company is enhancing its digital capabilities and has launched various data-driven initiatives, including a partnership with Zhangjiagang Data Science and Zhangjiagang Rural Commercial Bank to innovate in public data and inclusive finance [3]. Profit Forecast - Based on the Q3 report and expectations of demand recovery from government and large enterprises, the revenue forecasts for 2024-2026 have been adjusted to 2.36 billion yuan, 2.75 billion yuan, and 3.22 billion yuan, respectively. The net profit forecasts are 261 million yuan, 360 million yuan, and 449 million yuan, reflecting growth rates of 33.9%, 37.9%, and 24.8% [4][8].

证券代码：688232 证券简称：新点软件 公告编号：2024-051 关于 2024 年前三季度计提资产减值准备的公告 国泰新点软件股份有限公司 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、准确性和完整性依法承担法律责任。 一、计提资产减值准备情况的概述 根据《企业会计准则》及相关会计政策的规定，为客观、公允地反映国泰新 点软件股份有限公司（以下简称"公司"）截至 2024 年 9 月 30 日的财务状况及 2024 年前三季度的经营成果，本着谨慎性原则，公司对截至 2024 年 9 月 30 日 公司及子公司的资产进行了减值测试，对可能发生资产减值损失的相关资产计提 减值准备。公司 2024 年前三季度计提各项资产减值准备合计 3,892.25 万元，具 体如下表： 单位：万元 币种：人民币 | 项目 | 计提金额 | 备注 | | --- | --- | --- | | 信用减值损失 | 2,418.89 | 含应收票据坏账准备、应收账款坏账准备、其他 应收款坏账准备 | | 资产减值损失 | 1,473.36 | 含存货跌价准备、合同资产减值准 ...

国泰君安证券股份有限公司 关于国泰新点软件股份有限公司 使用部分暂时闲置募集资金进行现金管理的核查意见 国泰君安证券股份有限公司（以下简称"国泰君安"或"保荐机构"）作为 国泰新点软件股份有限公司（以下简称"新点软件"或"公司"）首次公开发行 股票并在科创板上市的保荐机构，根据《证券发行上市保荐业务管理办法》《上 海证券交易所科创板股票上市规则》《上市公司监管指引第2号——上市公司募 集资金管理和使用的监管要求》和《上海证券交易所科创板上市公司自律监管指 引第1号——规范运作》等相关规定，对新点软件使用暂时闲置募集资金进行现 金管理事项进行了核查，具体核查情况如下： 一、募集资金基本情况 经中国证券监督管理委员会证监许可[2021]3092号文核准，公司首次公开发 行人民币普通股（A股）82,500,000股，发行价格每股48.49元，募集资金总额为 400,042.50万元，扣除各项发行费用17,315.68万元，实际募集资金净额为 382,726.82万元。以上募集资金业经天职国际会计师事务所（特殊普通合伙）验 资，并由其出具天职业字[2021]第43391号验资报告。 根据《上海证券交易所科创板股票上市 ...

证券代码：688232 证券简称：新点软件 公告编号：2024-053 国泰新点软件股份有限公司 关于召开 2024 年第三季度业绩说明会的公告 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、准确性和完整性依法承担法律责任。 会 议 召 开 地 点 ： 上海证券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2024 年 11 月 01 日（星期五）至 11 月 07 日（星期四）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 djl@epoint.com.cn 进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 国泰新点软件股份有限公司（以下简称"公司"）已于 2024 年 10 月 26 日发 布公司 2024 年第三季度报告，为便于广大投资者更全面深入地了解公司 2024 年第三季度经营成果、财务状况，公司计划于 2024 年 11 月 08 日（星期五）下 午 15:00-16:00 举行 20 ...

证券代码：688232 证券简称：新点软件 公告编号：2024-046 国泰新点软件股份有限公司 第二届监事会第十一次会议决议公告 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、准确性和完整性依法承担法律责任。 二、监事会会议审议情况 经与会监事表决，形成如下决议： （一）审议通过《关于 2024 年第三季度报告的议案》 经审议，监事会认为：公司 2024 年第三季度报告的内容与格式符合法律法 规及《公司章程》等相关规定，未发现公司参与报告编制和审议的人员有违反保 密规定的行为，所载材料真实、准确、完整地反映了公司的财务状况和经营成果， 不存在任何虚假记载、误导性陈述或者重大遗漏。 具体内容详见公司于同日披露在上海证券交易所网站（www.sse.com.cn）的 《新点软件 2024 年第三季度报告》。 表决结果：同意 3 票，反对 0 票，弃权 0 票。 （二）审议通过《关于续聘会计师事务所的议案》 经审议，监事会认为：中汇会计师事务所（特殊普通合伙）具备足够的专业 胜任能力、投资者保护能力、诚信状况、独立性，能够满足公司对于年度财务审 计和内部控制审 ...

的核查意见 国泰君安证券股份有限公司（以下简称"国泰君安"或"保荐机构"）作为 国泰新点软件股份有限公司（以下简称"新点软件"或"公司"）首次公开发行 股票并在科创板上市的保荐机构，根据《中华人民共和国公司法》《中华人民共 和国证券法》《证券发行上市保荐业务管理办法》《上海证券交易所科创板股票 上市规则》《科创板上市公司持续监管办法（试行）》《上市公司监管指引第2 号——上市公司募集资金管理和使用的监管要求》以及《上海证券交易所科创板 上市公司自律监管指引第1号——规范运作》等法律法规和规范性文件的要求， 对公司本次关联交易事项进行了核查，核查情况如下： 一、关联交易概述 公司于 2024 年 10 月 25 日召开第二届董事会第十三次会议，审议通过了《关 于使用部分暂时闲置资金进行现金管理暨关联交易的议案》，关联董事季忠明已 回避表决。本项关联交易尚需提交公司股东大会审议。 本次交易未构成重大资产重组、交易实施不存在重大法律障碍。 公司及子公司拟使用不超过人民币 190,000.00 万元向江苏张家港农村商业 银行股份有限公司（以下简称"张家港农商行"）购买投资产品，其中 130,000.00 万元来自部分 ...