Investment Rating and Valuation - The report initiates coverage with a "Buy" rating for Newland (000997) [4][7] - The target market capitalization is estimated at CNY 30.9 billion, based on a 28x PE multiple for 2024 [7] - Expected revenue for 2024-2026 is CNY 8.456 billion, CNY 9.628 billion, and CNY 10.806 billion, respectively, with net profits of CNY 1.103 billion, CNY 1.375 billion, and CNY 1.692 billion [7] Core Business and Growth Drivers - Newland's main businesses include merchant operation and value-added services (46% of H1 2024 revenue), electronic payment and information recognition products (42%), and industry application and software development services (12%) [4] - The company's merchant operation and value-added services are expected to grow due to increased pricing power and overseas expansion [4] - The electronic payment and information recognition products segment is driven by strong overseas sales and localization strategies [6] Merchant Operation and Value-Added Services - The merchant operation segment has seen a structural optimization, with merchants generating over CNY 500,000 in monthly turnover increasing by more than 16% in 2023 [5] - The payment method structure has also improved, with QR code payments accounting for a higher proportion of transactions, which have higher net rates compared to card payments [5] - The company has strengthened cooperation with banks and large KA clients, further improving the turnover structure [44] Overseas Expansion and Hardware Growth - Newland's POS terminal shipments ranked first globally in 2022, with a strong presence in Latin America, Southeast Asia, and Europe [6] - The company has implemented localized and physical marketing strategies, achieving significant growth in Brazil and expanding into Mexico and Argentina [6] - The overseas market, particularly in Latin America, Southeast Asia, and Europe, is expected to grow at a CAGR of 16%, 15.73%, and 12.8%, respectively, over the next five years [54] Technological Advancements - Newland has developed advanced technologies in payment, recognition, blockchain, and AI, with products such as the global first QR code decoding chip and AI edge computing products [61] - The company has expanded its AIDC (Automatic Identification and Data Collection) capabilities, integrating AI to create intelligent solutions for various industries [64] - Newland's AI platform, AutoML, supports applications in barcode reading, OCR, and visual inspection, with products like the NLS-FM600 intelligent vision camera entering mass production [64] Financial Projections - Merchant operation and value-added services are expected to grow at a rate of 2%, 17%, and 13% from 2024 to 2026, with gross margins of 46%, 46%, and 47% [68][69] - Electronic payment and information recognition products are projected to grow at 6%, 11%, and 13% from 2024 to 2026, with gross margins of 39%, 41%, and 42% [70] Industry Trends and Competitive Landscape - The payment industry has seen a turning point in 2023, with stricter regulations leading to a reduction in price wars and an increase in fee rates [4] - The number of payment institutions with national licenses has decreased from 61 in 2022 to 50 in 2024, benefiting leading companies like Newland [31] - Newland's subsidiary, Guotong Xingyi, ranks third in the 2023 China Payment Institution TOP Comprehensive Index, highlighting its strong competitive position [26]

证券代码：000997 证券简称：新大陆 公告编号：2024-048 新大陆数字技术股份有限公司 关于控股股东股份解除质押的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性 陈述或重大遗漏。 三、备查文件 1、解除证券质押登记通知； 2、中国证券登记结算有限责任公司证券质押及司法冻结明细表。 特此公告。 新大陆数字技术股份有限公司（以下简称"公司"）近日接到公司控股股东新大 陆科技集团有限公司函告，获悉其持有公司的部分股份办理了解除质押业务，并已 在中国证券登记结算有限责任公司办理完成相应的登记手续，具体事项如下： 二、股东股份累计被质押情况 截至公告披露日，上述股东及其一致行动人所持质押股份情况如下： | | | | | | | | 已质押股份 | | 未质押股份 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | 情况 | | 情况 | | | | | | 本次解除 | 本次解除 | 占其所 | 占公司 | 已质押 | | | | | 股东 | 持 ...

证券代码：000997 证券简称：新大陆 公告编号：2024-047 新大陆数字技术股份有限公司 2024年中期权益分派实施公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误导 性陈述或重大遗漏。 特别提示： 1、新大陆数字技术股份有限公司（以下简称"公司"）2024 年中期利润分 配方案为：以享有利润分配权的股份总额 1,013,097,915 股（总股本 1,032,062,937 股扣除公司回购账户持有的股份数量 18,965,022 股）为基数，2024 年前三季度 按每 10 股派发现金股利 3.30 元（含税），共计派发现金红利 334,322,311.95 元， 不送红股，不以公积金转增股本，剩余的未分配利润转入以后年度分配。利润分 配预案披露至实施期间，若公司可参与利润分配的股份总额发生变动，将按照分 配比例不变的原则对分配总额进行调整。 2、公司回购专用账户中的股份（18,965,022 股）不享有参与本次利润分配的 权利，不参与本次权益分派。本次权益分派实施后除权除息价格计算时，根据股 票市值不变的原则，以公司总股本 1,032,062,937 股（含回购股份 ...

关于回购股份事项前十大股东和前十大无限售条件股东 持股情况的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性 陈述或重大遗漏。 证券代码：000997 证券简称：新大陆 公告编号：2024-046 新大陆数字技术股份有限公司 二、董事会公告回购股份决议的前一交易日前十名无限售条件股东持股情况 | 序号 | 持有人名称 | 持有数量（股） | 占无限售条件流通股 | | --- | --- | --- | --- | | | | | 的比例（%） | | 1 | 新大陆科技集团有限公司 | 308,879,440 | 30.10 | | 2 | 长城（天津）股权投资基金管理有限责 任公司－长城国泰－高端装备并购契 | 27,611,596 | 2.69 | | | 约型私募投资基金 | | | | 3 | 新大陆数字技术股份有限公司回购专 | 18,965,022 | 1.85 | | | 用证券账户 | | | | 4 | 中央汇金资产管理有限责任公司 | 18,523,053 | 1.80 | | 5 | 香港中央结算有限公司 | 15,322,959 | 1.49 | ...

证券代码：000997 证券简称：新大陆 新大陆数字技术股份有限公司投资者关系活动记录表 编号：2024-003 | | □特定对象调研  分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 南方基金；华泰资管；嘉实基金；鹏华基金；海富通基金；大 | | | 成基金；广发基金；信达澳亚基金；建信养老金；新华基金； | | | 兴业基金；朱雀基金；国联基金；兴银基金；中信保诚基金； | | | 银河基金；中银基金；交银人寿；泉果基金；西部利得基金； | | 参与单位名称及 | 长江养老保险；华泰资管；上银基金；博时基金；中国人寿； | | 人员姓名 | 易方达基金；泰达宏利基金；淳厚基金；凯石基金；上海和谐 | | | 汇一；交银施罗德基金；天弘基金；创金合信基金；恒越基金； | | | Marco Polo Pure Asset Management；WT Asset Management | | | Limited；兴业证券等合计 57 人 | | 时间 | 2024 年 10 ...

大家下午好非常感谢大家今天没有周末的时间来参加新大陆2024年相机报以及对整个跨年之后行业全景解读的这么一个专题的一个电话会议本次会议的主持人今天安迪逊的专题首席评价人安迪先生 我们团队的杨洛红也是我们十二小时之后就被爆炸伤了手臂边畿线的断层肢这一块造成我主持的这个会议我们今天很荣幸啊邀请到新华大陆在索南也有这一块主动支援 包括新一届的总经理明天总也发布了三级报还有分红的一系列的公告今年也是新大陆成立30周年那么公司发出了一个非常重大的这么一个回购股份的这么一个方案会以3.5亿到7个亿的这么一个资金然后去进行回购 那么回购价格不会低于24块钱比现在是要高很多的那么未来整个回购的股份会全部用来做股权激励相关的一个计划同时公司还公布了一个中期分红计划 这个是上半年的一个分红大家可能也关注到公司每年年底还会再做一次那么就这次的这个中期分红来讲公司会每十股派发现金红利3.3元也就是说会合计派发3.34亿的一个人民币所以到这个分红大家可能也关注到 这其实体现了公司对外来盈利 持续盈利包括未来成长 持续发展的这么一个信心背后在定义行的公司是怎样的一个圈饰包括未来面临的影响力 这是刚刚说的都不清楚还是还是有一小部分不清楚 ...

设备系主要动力 2023-10-29 [Table_Profit] [Table_StockNameRptType] 新大陆（000997） 公司点评 | --- | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------------------|--------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [1] Core Views - The report highlights a 5.29% year-on-year decline in revenue for Q3, while the net profit attributable to shareholders increased by 13.91% year-on-year. For the first three quarters of 2024, the company achieved revenue of 5.573 billion yuan, a decrease of 5.27% year-on-year, and a net profit of 819 million yuan, which is a slight increase of 0.07% year-on-year [4] - The payment business saw a transaction volume of 15.5 trillion yuan in the first three quarters, down 19.7% year-on-year, primarily due to regulatory changes impacting the third-party payment industry. However, there are signs of recovery in consumer spending starting from September [4] - The company plans to distribute a mid-term dividend of 334 million yuan, with a cash dividend of 3.30 yuan per 10 shares [4] - The company is also planning a share buyback of 350 to 700 million yuan, with a buyback price not exceeding 24 yuan per share, representing a premium of 41% over the current stock price [4] - The company is focusing on digitalization, ecological development, and internationalization strategies to capitalize on domestic and overseas market opportunities [4] Financial Summary - The company forecasts revenues of 8.273 billion yuan, 9.103 billion yuan, and 10.038 billion yuan for 2024, 2025, and 2026 respectively, with year-on-year growth rates of 0.3%, 10.0%, and 10.3% [5][6] - The net profit attributable to shareholders is projected to be 1.175 billion yuan, 1.431 billion yuan, and 1.683 billion yuan for the same years, with growth rates of 17.0%, 21.8%, and 17.6% respectively [5][6] - The earnings per share (EPS) are expected to be 1.14 yuan, 1.39 yuan, and 1.63 yuan for 2024, 2025, and 2026 respectively [5][6] - The company maintains a gross margin of 35.2% in 2023, projected to increase to 42.5% in 2024 and stabilize around 43.0% by 2026 [8] Valuation - The report suggests a dynamic price-to-earnings (PE) ratio of 21-23 times for 2025, with a reasonable value range for the stock between 29.19 yuan and 31.97 yuan [5][7]

Investment Rating - The report maintains a "Recommended" rating for the company, indicating a positive outlook for future performance [2][4]. Core Insights - The company reported a resilient performance with a net profit of 819 million yuan for the first three quarters of 2024, reflecting a slight year-on-year increase of 0.07%. However, the non-recurring net profit decreased by 7.75% to 822 million yuan [2]. - In Q3 2024, the company achieved a net profit of 289 million yuan, marking a year-on-year growth of 13.91%, while the non-recurring net profit fell by 11.56% to 260 million yuan. The revenue for Q3 was 1.937 billion yuan, down 5.29% year-on-year, primarily due to regulatory impacts on the third-party payment industry [2]. - The company's overseas business is steadily developing, with a significant increase in the shipment of smart POS devices, which accounted for over 39% of total overseas shipments [2]. - The management announced a substantial share buyback plan, intending to repurchase shares at a price not exceeding 24 yuan per share, using 350 to 700 million yuan. Additionally, a cash dividend of 3.30 yuan per 10 shares is planned, totaling 334 million yuan [2]. - Future profit forecasts for the company are optimistic, with expected net profits of 1.115 billion yuan, 1.315 billion yuan, and 1.460 billion yuan for 2024, 2025, and 2026 respectively. The current market capitalization corresponds to price-to-earnings ratios of 16, 13, and 12 for the respective years [2]. Financial Summary - For the first three quarters of 2024, the company reported total revenue of 8.25 billion yuan, with a growth rate of 11.9% in 2023. The net profit attributable to shareholders was 1.004 billion yuan, showing a significant growth rate of 362.9% [3][5]. - The company's earnings per share (EPS) is projected to increase from 0.97 yuan in 2023 to 1.41 yuan in 2026, reflecting a positive growth trajectory [6]. - The company's financial health is indicated by a projected return on equity (ROE) of 15.69% in 2023, expected to slightly decrease to 15.55% in 2024, before rising to 16.32% in 2026 [5][6].

新大陆数字技术股份有限公司 监事会关于公司 2024 年第三季度报告有关事项的审核意见 一、关于《公司2024年第三季度报告》的审核意见 经过认真严格的审核，监事会认为董事会关于公司 2024 年第三季度报告的编 制和审议程序符合法律、行政法规及中国证监会的规定，报告的内容真实、准确、 完整地反映了上市公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗 漏。 林整榕 王贤福 林福陵 新大陆数字技术股份有限公司 监 事 会 2024 年 10 月 25 日 （以下无正文） 2 1 [此页为新大陆数字技术股份有限公司监事会关于公司 2024 年第三季度报告有关 事项的审核意见签署页] 监事签名： ...