[Table_CompanyReport] [Table_StockNameRptType] 新大陆（000997） 公司覆盖 第三方支付盈利改善，海外战略持续推进 | --- | --- | |----------------------------------------|-------------| | [Table_Rank] 投资评级：买入 首次覆盖 | | | 报告日期： 2024-09-26 | | | [Table_BaseData] 收盘价（元） | 13.86 | | 近 12 个月最高 / 最低（元） | 20.35/11.85 | | 总股本（百万股） | 1,032 | | 流通股本（百万股） | 1,026 | | 流通股比例（ % ） | 99.45 | | 总市值（亿元） | 143 | | 流通市值（亿元） | 142 | [公司价格与沪深 Table_Chart] 300 走势比较 -42% -26% -10% 6% 22% 9/23 12/23 3/24 6/24 新大陆 沪深300 [Table_Author] 分析师：金荣 执业证书号：S0010521080002 邮 ...

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：2024-002 | |  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 | | 参与单位名称及 | | | | 华夏基金研究员 贾静雯；华夏基金投资经理 席博慧；华夏 基金基金经理 徐少强；东方资管研究员 郑童仁；华安基金 | | | 研究员 何天舒；国寿安保研究员 余舒嘉铭；建信基金研究 | | 人员姓名 | 员 刘志威；国泰基金研究员 韩知昂；兴业证券研究员 杨本 | | | 鸿 | | 时间 | 年 月 日（周五）10:00-12:00 2024 9 20 | | 地点 | 福建省福州市马尾区儒江西路 1 号新大陆科技园 | | 上市公司接待人 | 董事会秘书 徐芳宁女士 | | 员姓名 | 国通星驿公司总经理 林坚先生 | | | 证券事务代表 杨晓东先生 | | | 本次交流互动主要涉及以下问题： 年上半年，面对国际国内市场存在的多重不 | | | 问题 1：公司 年半年度经营的整体情况介绍 ...

证券代码：000997 证券简称：新大陆 公告编号：2024-038 新大陆数字技术股份有限公司 第九届董事会第二次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、误导性 陈述或重大遗漏。 2024 年 9 月 9 日，新大陆数字技术股份有限公司（以下简称"公司"）董事 会以书面形式向各位董事发出召开公司第九届董事会第二次会议的通知，并于 2024 年 9 月 20 日在公司会议室以现场和通讯相结合的方式召开了此次会议。会议 应到董事 5 人（其中独立董事 2 名），实到 5 人。会议由董事长王晶女士主持，公 司监事及高级管理人员列席了此次会议。会议的召集和召开程序符合《公司法》和 《公司章程》的有关规定。 本次会议经过认真审议并通过如下决议： 一、审议通过《关于为全资孙公司提供银行授信担保的议案》，表决结果为： 同意5票，反对0票，弃权0票。 具体内容详见同日披露于《中国证券报》、《证券时报》、《上海证券报》和 巨潮资讯网的《关于为全资孙公司提供银行授信担保的公告》（公告编号：2024- 039）。 特此公告。 新大陆数字技术股份有限公司 董 事 会 2024 年 9 ...

截止本公告披露之日，公司及控股子公司担保总额超过公司最近一期经审 计归母净资产的 50%，请广大投资者充分关注担保风险。 证券代码：000997 证券简称：新大陆 公告编号：2024-039 新大陆数字技术股份有限公司 关于为全资孙公司提供银行授信担保的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 特别风险提示： 一、担保情况概述 新大陆数字技术股份有限公司（以下简称"公司"）于 2024 年 9 月 20 日召 开第九届董事会第二次会议，审议通过了《关于为全资孙公司提供银行授信担保 的议案》（5 票同意，0 票弃权，0 票反对），为满足子公司日常经营及全球化业务 发展的需要，董事会同意分别为两家全资孙公司新大陆支付技术国际（新加坡） 有限公司（以下简称"新加坡支付公司"）、香港新大陆支付技术有限公司（以下 简称"香港支付公司"）向银行申请授信额度提供担保，同时授权由公司法定代 表人或法定代表人的授权人士办理相关业务，代表公司办理相关手续、签署相关 法律文件等。本次公司孙公司拟申请授信的金融机构范围及额度具体如下： | 序号 | 被担保方 | 银行名称 ...

Investment Rating - The report maintains a "Buy" rating for the company [4]. Core Views - The company's H1 2024 performance met market expectations, with total revenue of 3.636 billion yuan, a year-on-year decrease of 5.25%, and a net profit attributable to shareholders of 530 million yuan, down 6.15% year-on-year. Excluding certain factors, the net profit grew by 21.36% year-on-year [1][2]. - The overseas sales of smart terminal clusters accounted for 75% of total revenue, with a gross margin of 40.90%, an increase of 2.59 percentage points year-on-year. The company is focusing on sustainable clients and businesses, optimizing its merchant structure [1]. - The company has established partnerships with several banks to facilitate digital RMB payment channels, with nearly 15,000 merchants enabled for digital RMB services by the end of June [2]. Financial Summary - For 2024-2026, the projected revenues are 9.030 billion yuan, 10.598 billion yuan, and 12.321 billion yuan, respectively. The projected net profits are 1.295 billion yuan, 1.639 billion yuan, and 2.037 billion yuan, respectively [2][3]. - The company's financial metrics show a projected EPS of 1.25 yuan for 2024, with a P/E ratio of 9.9 and a P/B ratio of 1.7 [3][4]. - The gross margin is expected to improve to 40.9% in 2024, with a net profit margin of 14.3% [3][4].

Investment Rating - The report maintains an "Outperform" rating for the company [1] Core Views - The company's profitability has improved, and its overseas expansion is accelerating [4] - The payment business model and merchant quality upgrades have further enhanced profitability [4] - The company's smart terminal global deployment has made breakthrough progress, with overseas revenue accounting for 75% of the total [5] - Emerging businesses, including digital RMB and AI, continue to contribute to the company's performance growth [7] Financial Performance - In H1 2024, the company achieved revenue of 3.636 billion yuan, a year-on-year decrease of 5.25%, and net profit attributable to the parent company of 530 million yuan, a year-on-year decrease of 6.15% [4] - Excluding the impact of investment income and minority equity factors, the company's net profit attributable to the parent company in H1 2024 increased by 21.36% year-on-year to 648 million yuan [4] - The gross profit margin of the merchant operation and value-added service business reached 45.25%, an increase of 4.17 percentage points year-on-year [4] - The gross profit margin of the smart terminal business increased by 2.59 percentage points to 40.90% [5] Business Highlights - The company's payment service transaction scale in H1 2024 was 1.07 trillion yuan, a year-on-year decrease of 17.69%, but the proportion of QR code transactions increased significantly [4] - The company has made significant progress in the bank joint acquiring model, with nearly 40 new projects won and transaction volume exceeding 360 billion yuan in H1 2024 [4] - In the digital RMB sector, the company has partnered with major banks and served nearly 15,000 acquiring merchants by the end of June [7] - The company has successfully bid for several AI-related projects, including China Tower's AI algorithm model research and Xinjiang Unicom's AI recognition cloud-edge collaborative intelligent inspection [7] Financial Forecast - The company's revenue is expected to be 8.273 billion yuan, 9.103 billion yuan, and 10.038 billion yuan in 2024, 2025, and 2026, respectively, with year-on-year growth rates of 0.3%, 10.0%, and 10.3% [7] - Net profit attributable to the parent company is expected to be 1.175 billion yuan, 1.432 billion yuan, and 1.687 billion yuan in 2024, 2025, and 2026, respectively, with year-on-year growth rates of 17.0%, 21.9%, and 17.8% [7] - The company's EPS is expected to be 1.14 yuan, 1.39 yuan, and 1.63 yuan in 2024, 2025, and 2026, respectively [7] Valuation - The report gives the company a 2024 dynamic PE of 15-18 times, with a reasonable value range of 17.10-20.52 yuan [7] - The company's current market value is 13.293 billion yuan, with a total share capital of 1.032 billion shares and a circulating A-share capital of 1.026 billion shares [1]

Investment Rating - Buy (Maintained) [1] Core Views - The company's cost structure has improved significantly, with a notable increase in gross margin for merchant value-added services [2][3] - Overseas hardware business is expanding steadily, with a focus on localization in key regions such as Latin America, Asia-Pacific, and Europe [3] - The company is increasing investments in merchant SaaS services and overseas localization, which are expected to drive future growth [3] Financial Performance - Revenue for H1 2024 was RMB 3.64 billion, a year-on-year decrease of 5.3% [2] - Net profit attributable to the parent company was RMB 530 million, down 6.2% YoY, but adjusted net profit (excluding equity investment impacts) increased by 21.4% YoY to RMB 650 million [2] - Q2 2024 revenue was RMB 1.9 billion, down 2.2% YoY, while net profit attributable to the parent company increased by 6.0% YoY to RMB 280 million [2] Business Segments - Merchant value-added and operation services revenue decreased by 7.3% YoY to RMB 1.67 billion, but gross margin improved by 4.17 percentage points to 45.3% [3] - Payment product and information recognition product revenue was RMB 1.52 billion, down 0.8% YoY, with strong growth in Latin America (+18% YoY) [3] - The company serves over 3.2 million active merchants, with an ARPU of RMB 167 per user in H1 2024 [3] Cost and Expense Analysis - Overall gross margin for H1 2024 was 43.4%, up 1.62 percentage points YoY [3] - Sales/management/R&D expense ratios increased by 0.37/0.68/1.32 percentage points YoY to 4.8%/6.6%/8.6% respectively [3] Profit Forecast and Valuation - EPS for 2024-2026 is forecasted at RMB 1.13/1.33/1.53, with corresponding P/E ratios of 11/9/8 [3] - Revenue growth is expected to be 2.85%/9.19%/10.84% for 2024-2026 [4] - Net profit growth is projected at 16.68%/16.97%/15.38% for 2024-2026 [4] Overseas Expansion - The company is transitioning from an agency model to a localized direct operation model in Asia-Pacific and Europe [3] - Middle East and Africa region achieved stable revenue of RMB 160 million in H1 2024, with continued bulk supply to key clients [3] Domestic Market - The company strengthened cooperation with major banks, with bank customer revenue increasing by over 37% in H1 2024 [3] - The company successfully entered the top six banks in China [3]

Financial Performance - The company reported a significant increase in revenue for the first half of 2024, achieving a total of 1.2 billion yuan, representing a year-on-year growth of 15%[8]. - The total revenue for the first half of 2024 was CNY 3.64 billion, a decrease of 5.25% compared to the same period last year[12]. - The net profit attributable to shareholders was CNY 529.84 million, down 6.15% year-on-year[12]. - The net profit after deducting non-recurring gains and losses was CNY 561.22 million, a decrease of 5.88% compared to the previous year[12]. - The company achieved a net profit of CNY 648 million after excluding certain factors, representing a growth of 21.36% year-on-year[18]. - The company reported a total comprehensive income of CNY 612,827,025.55, an increase of 6.9% from CNY 573,246,040.61 in the previous year[109]. - The company reported a total comprehensive loss of CNY 32,551,288.83 for the first half of 2024[124]. User and Market Growth - User data indicates that the active user base has expanded to 5 million, marking a 20% increase compared to the previous year[8]. - Market expansion efforts are underway in the EMEA region, targeting a 25% increase in market share by the end of 2025[8]. - The company’s revenue in the Asia-Pacific region increased by 37% year-on-year, driven by partnerships with leading e-commerce platforms and the certification of its 5G product in Japan[28]. - The company’s banking customer revenue in the domestic market grew by over 37% year-on-year, despite overall domestic terminal demand not fully recovering[21]. Product Development and Innovation - New product launches include an upgraded version of their smart POS system, which is expected to enhance transaction efficiency by 30%[8]. - The company is investing in R&D for edge computing technology, with a budget allocation of 200 million yuan for the next fiscal year[8]. - The company launched its first self-developed innovative product combining scanning and cloud printing, expanding its product offerings in the food delivery scene[26]. Financial Management and Investments - The company plans to distribute a mid-year cash dividend of 0.5 yuan per share, subject to board approval[2]. - The company’s financial asset management balance reached CNY 2.631 billion by the end of June, with operating revenue of CNY 257 million in the first half of the year[35]. - The company made investments totaling ¥59,040,590.50 during the reporting period, a substantial increase of 4,687.86% compared to ¥1,233,130.82 in the same period last year[50]. - The company has established partnerships with major banks for digital RMB services, enabling nearly 15,000 acquiring merchants to access digital RMB, with around 1,000 active merchants and approximately 100,000 monthly transactions as of June[31]. Operational Challenges and Risks - The management has identified potential risks, including regulatory changes and market competition, and is developing mitigation strategies[2]. - The company’s overseas business faced challenges due to geopolitical factors, but it continues to strengthen its talent pool and global sales network[28]. - The company has faced risks in domestic and overseas markets, including rapid market changes and political-economic instability in foreign markets[66][67]. Corporate Governance and Compliance - The company has not violated any commitments during the reporting period, maintaining good integrity and compliance with legal obligations[83]. - The company’s controlling shareholder, Newland Group, has committed to not reducing its holdings and will disclose any sale of shares if it exceeds 5% within six months prior to the sale[78]. - The company has established a governance structure with a board of directors and supervisory board to oversee its operations[127]. Research and Development - R&D investment increased by 11.85% to CNY 314.45 million, up from CNY 281.14 million in the previous year[42]. - Research and development expenses increased to CNY 19,310,585.78 in the first half of 2024, compared to CNY 16,261,973.27 in the previous year, reflecting a focus on innovation[119]. Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 175.53 million, a decline of 113.68% year-on-year[12]. - The cash and cash equivalents net increase was negative CNY 385.14 million, a decline of 139.57% compared to an increase of CNY 973.29 million in the previous year[42]. - The company’s cash inflow from operating activities for the first half of 2024 was CNY 493,149,805.82, a decrease of 13.2% compared to CNY 568,074,943.72 in the same period last year[122]. Shareholder Information - The company has a total of 1,032,062,937 shares, with 99.45% being unrestricted shares[96]. - The largest shareholder, Newland Technology Group Co., Ltd., holds 29.93% of the total shares, amounting to 308,879,440 shares[98]. - The company has not issued any new shares or conducted any share buybacks during the reporting period[96]. Strategic Focus - The company is committed to becoming a leading digital business service provider, leveraging the integration of digital and real economies[37]. - The company aims to enhance its digital governance and expand its digital industry presence, focusing on AI and edge computing technologies[37]. - The company plans to deepen cooperation with financial institutions to expand merchant coverage and promote the adoption of digital RMB[38].

编制单位：新大陆数字技术股份有限公司 单位：万元 非经营性资金占用 资金占用方名称 占用方与上市公司的 关联关系 上市公司核算的 会计科目 2024年初占用资 金余额 2024年半年度占用累 计发生金额(不含利息) 2024年半年度占用 资金的利息(如有) 2024年半年度偿 还累计发生金额 2024年半年度末 占用资金余额 占用形成原因 占用性质 控股股东、实际控制人及 其附属企业 非经营性占用 前控股股东、实际控制人 及其附属企业 非经营性占用 其他关联方及其附属企业 非经营性占用 其他关联资金往来 资金往来方名称 往来方与上市公司的 关联关系 上市公司核算的 会计科目 2024年初往来资 金余额 2024年半年度往来累 计发生金额(不含利息) 2024年半年度往来 资金的利息(如有) 2024年半年度偿 还累计发生金额 2024年半年度末 往来资金余额 往来形成原因 往来性质 澳门新大陆万博科技有限公司 同一控股股东 应收账款 79.60 79.60 购销业务 经营性往来 福建八方科技发展有限公司 同一控股股东 应收账款 12.63 12.63 购销业务 经营性往来 北京新大陆时代科技有限公司 控股股东 ...

第九届董事会第一次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、误导性 陈述或重大遗漏。 2024 年 8 月 13 日，新大陆数字技术股份有限公司（以下简称"公司"）董事 会以书面形式向各位董事发出召开公司第九届董事会第一次会议的通知，并于 2024 年 8 月 23 日在公司会议室以现场和通讯相结合的方式召开了此次会议。会议 应到董事 5 人（其中独立董事 2 名），实到 5 人。全体董事一致推举王晶女士主持 本次会议，公司监事及高级管理人员列席了此次会议。会议的召集和召开程序符合 《公司法》和《公司章程》的有关规定。 证券代码：000997 证券简称：新大陆 公告编号：2024-032 新大陆数字技术股份有限公司 本次会议经过认真审议并通过如下决议： 一、审议通过《关于选举公司第九届董事会董事长的议案》，表决结果为：同 意 5 票，反对 0 票，弃权 0 票； 经与会董事认真审议，一致同意选举王晶女士为公司第九届董事会董事长，任 期至本届董事会届满。 二、审议通过《关于选举公司第九届董事会副董事长的议案》，表决结果为： 同意 5 票，反对 0 票，弃权 0 票； ...