本次电话会议仅服务于华创证券研究所客户不构成投资建议相关人员应自主作出投资决策并自行承担投资风险 华创证券不应使用本次内容所导致的任何损失承担任何责任专家发言内容仅代表专家个人观点不代表本公司观点本次会议内容不得涉及国家保密信息内幕信息未公开重大信息商业秘密个人隐私不得涉及可能引发不当炒作或股价异常波动的敏感信息 不得涉及影响社会或资本市场稳定的言论未经华创证券事先书面许可任何机构或个人不得以任何形式复制、刊载、转载、转发引用本次会议内容否则由此造成的一切后果及法律责任由该机构或个人承担本公司保留追究其法律责任的权利 市场有风险 投资需谨慎好的 非常感谢会议助理我是华山计算机组的研究员周楚薇非常感谢大家来参加华山计算机终极策略会的线上神州信息专场今天我们很荣幸可以邀请到我们公司的资本市场部总监李总来参加我们的交流 我们的会议分为两个环节第一个是有请李总先帮我们介绍一下公司的基本情况的近况介绍然后第二部分就是进入我们的趣味环节现在我们把时间交给李总有请李总好的好感谢主委感谢各位投资人 我先用一个简短的时间介绍一下公司整个的一个大概的概况然后更多的时间我们留到问答环节神州信息是从18年我们那个时候开始聚焦金融科技 ...

[研Ta究ble团_I队ntr简od介uction] 庞倩倩，计算机行业首席分析师，华南理工大学管理学硕士。曾就职于华创证券、广发证券，2022 年加入信 达证券研究开发中心。在广发证券期间，所在团队 21 年取得：新财富第四名、金牛奖最佳行业分析师第二名、 水晶球第二名、新浪金麒麟最佳分析师第一名、上证报最佳分析师第一名、21 世纪金牌分析师第一名。 姜惦非，计算机行业研究员，悉尼大学商学硕士，2023 年加入信达证券研究所，主要覆盖金融 it、网络安全 等领域。 分析师声明 负责本报告全部或部分内容的每一位分析师在此申明，本人具有证券投资咨询执业资格，并在中国证券业协会注册登记为证券分析 师,以勤勉的职业态度,独立、客观地出具本报告；本报告所表述的所有观点准确反映了分析师本人的研究观点；本人薪酬的任何组 成部分不曾与，不与，也将不会与本报告中的具体分析意见或观点直接或间接相关。 免责声明 信达证券股份有限公司(以下简称"信达证券")具有中国证监会批复的证券投资咨询业务资格。本报告由信达证券制作并发布。 本报告是针对与信达证券签署服务协议的签约客户的专属研究产品，为该类客户进行投资决策时提供辅助和参考，双方 ...

汉广这些干线并且承接了相应的一些重要城市的那个成业网的一些建设也相应的使我们这支团队累积了很多那个量子方面的一些经验并且这十几年的一个发展来说的话确实在过程当中也跟相应的厂商就比如说国家队的国队量子 我们也签订了相应的战略合作协议也推出了相应的一些联合品牌并且真正的落地了相应的比如联合实验室这些具体的工作跟公司也推进了整个量子这个行业的一个发展在后续的话也是在金融啊在政府啊在相应的军队啊或者是其他重要行业也是有相应的量子的一些应用的项目逐渐的落地 这些年的话其实是对我们来说这支团队也是有一个不断的提升我们全州信息在量子通信这一块的主要的竞争优势总结起来的话就这几块第一我们的技术领先技术领先的话是我们依仗的是国家队的国盾的相应的核心元件的产品也是深入的推进了产学沿用的融合为行业的应用创造了一些价值 第二的话是我们的相应的产品的领先随着现在那个QKT的相应的核心的产品的不断的迭代最新的产品的话已经到了相应的融合的一些商密的一些手段这也是我们采用比较好的产品来应对不同客户的不同的需求第三块的话我们是应用领先应用领先的话是一拖一这么多年的一个行业的资源的拓展 然后密切关注整个行业量子通信行业的一个应用也是在金融政务国 ...

公 司 报 告│ 公 司 季 报 点 评 神州信息(000555) 神州信息发布 2024 年一季度报告，2024 年一季度公司实现营收 17.68 亿 元，同比下降 9.88%；归母净利润-0.56 亿元，同比下降 594.31%；扣非归 母净利润-0.57 亿元，同比下降 1576.64%；毛利率为 15.53%，同比上升 2024 年一季度，公司销售/管理/研发费用率分别为 3.41%/3.35%/8.07%， 同比变化为-0.42pct/+1.18pct/+1.70pct，整体费用率有所提升。此外公 司计提应收账款坏账准备 0.95 亿元，2023 年同期为 0.51 亿元，同比增加 85.73%，是归母净利润下降的重要原因。 公司早在 2012 年进入量子通信领域，参与国家量子骨干网建设，又携手国 盾量子等成立合资公司神州国信，加速产品研发及行业应用落地，已经在 网络建设、行业应用等方面取得较大突破。公司帮助近 20 家金融机构实现 信息加密传输，在部分业务系统中应用量子通信强化安全防护，其中包括 银监会及中、农、工、建、交 5 大行，为未来金融业广泛应用量子通信提 供成功示范和借鉴。 2024 年 ...

公司快报 2024 年 05 月 03 日 神州信息(000555.SZ) 公司近期发布 2024 年一季报，24Q1 实现营业收入 17.68 亿元，同比 下降 9.88%，实现归母净利润-0.56 亿元，同比下降 594.31%。从收 入拆分来看，公司金融软服业务实现收入 7.08 亿元，同比增长 19.80%，核心业务增长良好。 在金融数据应用领域，根据一季报披露，公司中标签约锦州银行资产 管理、郑州银行数据中台、泰隆银行数据资产、福建农信数据指标管 理平台等项目。同时，公司参与编制的《金融数据资产估值与交易研 究》正式发布，报告围绕金融数据资产估值与交易主线，从数据资产 确权、估值、入表和交易等方面展开系统研究，创新提出数据资产估 值与入表的新思路、新方法。 投资建议： 本报告仅供 Choice 东方财富 使用，请勿传阅。 24Q1 金融软服业务保持增长 金融软服增长良好，数据要素和金融信创等业务有序推进 在金融信创领域，根据一季报披露，公司顺利交付完成某股份制大行 数据中心搬迁服务。公司"一体化数据智能开发平台"、"数据资产平 台"和"支付中台"等三项解决方案成功入选金融信创生态实验室评 选的"第三 ...

Financial Performance - Revenue for the first quarter of 2024 was 1.768 billion yuan, a decrease of 9.88% compared to the same period last year[6] - Net profit attributable to shareholders of the listed company was -56.46 million yuan, a decrease of 594.31% year-on-year[6] - The company achieved revenue of 1.768 billion yuan in the reporting period, with a net profit attributable to shareholders of listed companies of -56.4569 million yuan, mainly due to decreased revenue, delayed project repayments, and increased investment in fintech R&D[23] - Operating revenue dropped from 1.96 billion CNY to 1.77 billion CNY, a decrease of 9.9%[60] - Net profit attributable to the parent company decreased from 2.92 billion CNY to 2.86 billion CNY, a decline of 2.2%[56] - Net profit attributable to parent company owners was -56,456,904.88 yuan, compared to 11,421,437.36 yuan in the previous period[64] - Total comprehensive income attributable to parent company owners was -54,217,387.84 yuan, compared to 32,214,582.23 yuan in the previous period[64] - Basic earnings per share were -0.0585 yuan, compared to 0.0118 yuan in the previous period[64] Assets and Liabilities - Total assets at the end of the reporting period were 11.648 billion yuan, a decrease of 9.11% compared to the end of the previous year[6] - The balance of monetary funds at the end of the period decreased by 66.91% compared to the beginning of the year, mainly due to procurement payments and payments for services received[15] - Short-term loans at the end of the period increased by 176.45% compared to the beginning of the year, mainly due to the acquisition of short-term loans during the period[15] - Total assets decreased from 128.16 billion CNY to 116.48 billion CNY, a decline of 9.1%[54] - Short-term borrowings increased significantly from 56.24 million CNY to 155.47 million CNY, a rise of 176.4%[54] - Accounts payable decreased from 2.58 billion CNY to 2.14 billion CNY, down 17.3%[54] - Contract liabilities increased from 1.49 billion CNY to 1.60 billion CNY, up 7.3%[54] - Total liabilities decreased from 64.79 billion CNY to 54.04 billion CNY, a reduction of 16.6%[56] - Equity attributable to the parent company decreased from 6.23 billion CNY to 6.15 billion CNY, down 1.3%[56] - As of the end of Q1 2024, the company's monetary funds decreased to 701,225,804.41 yuan from 2,119,319,657.62 yuan at the beginning of the period[53] - The company's accounts receivable decreased to 2,815,698,008.74 yuan from 2,915,237,310.18 yuan at the beginning of the period[53] - The company's inventory increased to 2,229,992,770.29 yuan from 1,966,463,340.96 yuan at the beginning of the period[53] - The company's contract assets increased to 2,467,254,613.86 yuan from 2,324,218,210.85 yuan at the beginning of the period[53] - The company's total current assets decreased to 9,009,343,327.77 yuan from 10,188,852,560.79 yuan at the beginning of the period[53] Expenses and Costs - Management expenses increased by 38.98% compared to the same period last year, mainly due to increased personnel costs[18] - Financial expenses increased by 115.65% compared to the same period last year, mainly due to increased exchange losses[18] - Investment income decreased by 40.42% compared to the same period last year, mainly due to reduced income from financial products[18] - Credit impairment losses increased by 102.54% compared to the same period last year, mainly due to increased provision for accounts receivable impairment[14] - R&D expenses increased from 125.06 million CNY to 142.65 million CNY, up 14.0%[60] - Credit impairment losses increased from -50.63 million CNY to -102.54 million CNY, a significant rise of 102.5%[60] Cash Flow - The net cash flow from financing activities increased by 391.67% compared to the same period last year, mainly due to increased bank loans[18] - The impact of exchange rate changes on cash and cash equivalents increased by 98.19% compared to the same period last year, primarily due to fluctuations in external financial market exchange rates[24] - Cash received from sales of goods and services was 1,821,622,082.20 yuan, a decrease from 1,919,711,952.74 yuan in the previous period[67] - Net cash flow from operating activities was -1,424,872,071.72 yuan, compared to -1,235,801,561.10 yuan in the previous period[67] - Net cash flow from investing activities was 130,597,439.07 yuan, compared to 148,327,657.30 yuan in the previous period[70] - Net cash flow from financing activities was 55,302,046.50 yuan, compared to -18,960,313.69 yuan in the previous period[70] - Net increase in cash and cash equivalents was -1,238,973,162.06 yuan, compared to -1,106,466,082.29 yuan in the previous period[70] - Ending cash and cash equivalents balance was 685,645,779.27 yuan, compared to 520,610,552.18 yuan in the previous period[70] Business and Operations - Financial industry revenue reached 827 million yuan, with fintech software services revenue of 708 million yuan, a year-on-year increase of 19.80%, and signed contracts totaling 714 million yuan, a year-on-year increase of 8.87%[23] - The company completed the delivery of a major data center relocation service for a joint-stock bank and had three solutions selected as "Excellent Solutions" in the third phase of the Fintech Innovation Lab[35] - The company signed a cooperation agreement with Huawei to join the HarmonyOS ecosystem and became one of the first certified development service providers for Huawei's HarmonyOS[34] - Overseas business expansion focused on enhancing digital financial services, with ongoing delivery of core project groups for HSBC (China), Singapore Gulf Bank, and Goldman MFB[38] - The company's "New Generation Cloud-Native Core Business System" successfully passed compatibility verification with major manufacturers like Tencent, Alibaba, Huawei, and ZTE, and was selected for core application system projects in multiple regional banks[34] - The company's financial data business signed contracts for projects such as asset management with Jinzhou Bank, data middle platform with Zhengzhou Bank, and data asset management with Tailong Bank[34] Share Repurchase and Stock Options - The company canceled a total of 18.615 million stock options under the 2023 stock option incentive plan, including options for employees who left and those that did not meet exercise conditions[39] - The company's share capital decreased from 983,653,713 shares to 975,774,437 shares after the cancellation of 7,879,276 shares on January 16, 2024[28] - The company completed the cancellation of 18.615 million stock options on April 10, 2024, reducing the total number of incentive recipients from 256 to 254, with the remaining unexercised stock options adjusted to 18.54 million[40] - The 2022 employee stock ownership plan holds 11,047,477 shares, accounting for 1.13% of the company's total shares[41] - The company repurchased 3,658,573 shares by March 29, 2024, representing 0.37% of the total shares, with a total payment of 28,671,420.57 yuan[45] - The company completed the cancellation of 7,879,276 repurchased shares and the corresponding business registration changes on March 11, 2024[46] - The company plans to repurchase shares at a price not exceeding 15.85 yuan per share, with a total repurchase amount between 50 million and 100 million yuan, valid for 12 months from the board approval date[51] Corporate Governance and Announcements - The company's first quarter report was unaudited[73] - The company held its first extraordinary general meeting of shareholders for 2024 on January 11, 2024, with resolutions announced[75] - The company completed the cancellation of some repurchased shares and announced changes in share structure on January 18, 2024[75] - The company announced a share repurchase plan via centralized bidding on January 27, 2024[75] - The company conducted its first share repurchase on February 6, 2024[75] - The company announced the expiration of the lock-up period for the 2022 employee stock ownership plan on February 20, 2024[75] - The company announced the 2023 annual report summary and profit distribution plan on March 29, 2024[75] - The company proposed to renew the appointment of the accounting firm for 2024 on March 29, 2024[75] - The company announced adjustments to some senior management positions on March 29, 2024[75] - The company announced the provision for asset impairment and asset write-offs for 2023 on March 29, 2024[75] - The company released its first quarter report for 2024 on April 27, 2024[78]

| --- | --- | |--------------------------|-------------------------| | | 公司快报 \n证券研究报告 | | | 行业应用软件 | | 投资评级 | 买入 -A | | | 维持评级 | | 6 个月目标价 | 13.61 元 | | 股价 (2024-03-29) 12.00 | 元 | | 交易数据 | | | 总市值 | (百万元) 11,709.29 | | 流通市值(百万元 | ) 11,667.75 | | 总股本(百万股 | ) 975.77 | | 流通股本(百万股 | ) 972.31 | | 12 个月价格区间 | 7.35/14.66 元 | 风险提示： 公司评级体系 公司金融软服业务增长较快。根据公司年报，2023 年公司金融行业 实现营业收入 61.81 亿元，同比增长 10.58%，金融软件和服务业务 实现收入 36.39 亿元，同比增长 35.59%，业务结构持续优化。金融 行业签约额达到 65.14 亿元，同比增长 7.12%，其中金融软服业务签 约额 41.53 亿元，同比增长 30.72%。公司金融业务 ...

在营销端，以客户需求为导向，努力实现更高水平的客户服务拓展。公司将进一步整合面向金融行业的营销能力，继 续深入推进大客户战略，努力拓展国有大行、股份制行和重点城商行的业务机会，集中优势资源向大客户倾斜，针对重点 客户及重大项目进行扁平化、敏捷化、专业化分工，提升服务能力和客户粘性，撬动更多解决方案业务机会。 在研发端，面向客户未来需求，进一步补足短板。公司将持续加大自主创新和研发力度，引领金融业数字化转型，并 依托客户旅程、九天揽月等技术积累，打造"AI Bank"未来银行框架。同时，新动力数字金融研究院进一步发挥研发优势， 加速孵化零售银行等新产品线，并采用国际标准研发完成海外版本。 当前我国金融科技参与厂商众多，各家公司均有自身侧重的业务领域，市场格局较为分散。随着银行科技子公司的 加入，公司将面临现有产品及服务市场竞争加剧的风险，在个别细分市场或项目上可能出现竞争态势进一步激化的情况。 面对行业厂商的激烈价格战和同质化竞争，公司将坚持以自主创新为导向，加大 AIGC 等新技术的探索力度，紧跟前沿不 断革新，持续降本增效，为客户不断创造新的价值。 3.3 人力资源风险 适用 □不适用 | --- | -- ...

证券研究报告 神州信息(000555) 金融软服签约高增，推动 AIGC、数据资产落地 事件： 神州信息发布 2023 年年度报告，2023 年公司实现营收 120.56 亿元，同比 增长 0.47%；归母净利润 2.07 亿元，同比增长 0.30%；扣非归母净利润 2.07 亿元，同比下降 11.34%；毛利率为 15.35%，同比上升 0.07pct。单季度来 看，第四季度公司实现营收 54.39 亿元，同比增长 12.73%；归母净利润 1.20 亿元，同比增长 39.70%；扣非归母净利润 1.61 亿元，同比增长 11.19%， 毛利率为 13.71%，同比上升 1.30pct。 ➢ 金融软服营收、签约额高增 公司持续聚焦金融科技赛道，2023 年金融行业实现营业收入 61.81 亿元， 同比增长 10.58%，其中系统集成业务收入 25.42 亿元，软服业务收入 36.39 亿元，同比增长 35.59%，业务结构持续优化。金融行业签约额达到 65.14 亿元，同比增长 7.12%，其中软服业务签约额 41.53 亿元，同比增长 30.72%。 公司金融业务在手订单充足，2023 年内已签未销 27 ...

证券代码：000555 证券简称：神州信息 神州数码信息服务集团股份有限公司投资者关系活动记录表 编号：20231115 □特定对象调研 □分析师会议 投资者 媒体采访 业绩说明会 关系活动 □新闻发布会 □路演活动 类别 □现场参观 其他（2023年深圳辖区上市公司投资者网上集体接待日活动） 参与单位 名称及人员 投资者网上提问 姓名 时间 2023年11月15日15:30-17:00 北京市海淀区西北旺东路10号院中关村软件园二期东区18号神州信息大厦 地点 （公司通过全景网“投资者关系互动平台”采用网络远程的方式召开会议） 上市公司接待 财务总监兼董事会秘书 刘伟刚 人员姓名 公司于2023年11月15日15:30-17:00参与“沟通促进互信，质量提振信心， 助力上市公司可持续发展”——2023年深圳辖区上市公司投资者网上集体接待日 活动，本次活动采用网络远程方式与广大投资者互动交流。活动问答环节主要内容 ...