北京中长石基信息技术股份有限公司投资者关系管理活动记录-调研纪要 编号：2024-21 特定对象调研 □分析师会议 □媒体采访 □业绩说明会 投资者关系 □新闻发布会 □路演活动 活动类别 □现场参观 □其他： 西部利得基金-张昭君；浙商证券-童非；中邮证券-丁子惠 参与单位名 称及人员姓 证券代码：002153 证券简称：石基信息 北京中长石基信息技术股份有限公司 投资者关系活动记录表 名 | --- | --- | |------------|----------------------------------------------------------------| | | | | | | | 时间 | 2024 年 12 月 17 日 | | 地点 | 北京市海淀区复兴路甲 65 号石基信息大厦 | | 上市公司接 | 董秘、副总裁 - 罗芳；证券部 - 何龙光 | | 待人员姓名 | | | | 1 、云产品的单价是如何确定的？ | | | SaaS 型业务按订阅费方式来收取费用，比如云 PMS 产品 | | | 按月和酒店房间数计费。我们的云产品单价与客户使用我们产 | | 投资者关系 | 品 ...

Group 1: Cloud Transition in Hotel Information Systems - The transition to cloud-based hotel information systems is driven by the need for mobile access and data security compliance, as older systems cannot support direct consumer access [2][3]. - Cloud systems provide intelligent data support for hotel operators, improving management efficiency and reducing labor costs, while also addressing stringent data security regulations [2][3]. - Transitioning to cloud systems allows hotels to consolidate data security certification costs, as multiple hotels in a region can share a single certification process [3]. Group 2: Pricing and Business Strategy - SaaS products are priced based on subscription fees, with costs varying according to the number of hotel rooms and the features utilized [3]. - The company does not adopt a low-price strategy to attract clients; instead, it focuses on advanced technology and architecture, which has received positive feedback from customers [3][4]. - The company aims for global expansion and platform development, with a significant impact on future revenue as the number of cloud product clients increases [3][4]. Group 3: Competitive Landscape and Agreements - Competitors may use low pricing to attract hotel groups, but the company emphasizes the quality and capability of its products over pricing [4]. - The Master Service Agreement (MSA) is a non-exclusive framework, allowing hotel groups to procure cloud products without exclusivity, although operational efficiency may lead to a preference for a single system in a region [4]. Group 4: Future Investments and Technology - The company’s future investments will primarily focus on personnel costs, particularly for overseas teams, which have reached a scale of over 1,000 employees [4]. - The company recognizes the importance of AIGC technology for the future of the hotel and tourism industries, exploring applications in intelligent interaction and data analysis, while prioritizing cloud and global platform strategies [4].

Investment Rating - The report maintains an "Increase" rating for the company [1][3]. Core Insights - The company achieved a revenue of 2.016 billion yuan in the first three quarters of 2024, representing a year-on-year growth of 8.46%. The net profit attributable to shareholders was 16 million yuan, up 10.16% year-on-year, while the non-recurring net profit surged by 123.91% to 12 million yuan [2][3]. - In Q3 2024, the company reported a revenue of 634 million yuan, a decline of 3.64% year-on-year, with a net loss of 9 million yuan. The decline in revenue was primarily due to a significant drop in third-party hardware income and many projects not yet reaching completion status [2][3]. - The company signed a benchmark project with the Kempinski Hotel Group, providing a new generation of cloud-based hotel information management systems and payment solutions, which is expected to enhance its market presence [3]. Financial Summary - For 2024-2026, the forecasted net profit attributable to shareholders is expected to be 51 million yuan, 151 million yuan, and 269 million yuan respectively, indicating a strong growth trajectory [3]. - The company’s gross margin for Q3 2024 improved to 48.96%, with a year-on-year increase of 3.90 percentage points and a quarter-on-quarter increase of 5.64 percentage points [2][3]. - The company is focusing on cost reduction and efficiency improvement, with a notable improvement in cash flow, reducing the net cash flow from operating activities to -22 million yuan from -122 million yuan year-on-year [7].

北京中长石基信息技术股份有限公司投资者关系管理活动记录-调研纪要 编号：2024-18 □特定对象调研 □分析师会议 □媒体采访 □业绩说明会 投资者关系 □新闻发布会 □路演活动 活动类别 □现场参观 其他：国海证券上市公司交流会 百嘉基金-孟霭禾；长城财富-胡纪元；国海证券-刘熹、郭义俊、 范希强；宏道投资-侯继雄；金百镕投资-黄龙；兴和基金-孙祺、 景莹 参与单位名 称及人员姓 证券代码：002153 证券简称：石基信息 北京中长石基信息技术股份有限公司 投资者关系活动记录表 名 | --- | --- | |-----------------------|-------------------------------------------------------------| | 时间 | 2024 年 11 月 14 日 | | 地点 | 北京市西城区华远街 2 号 | | 上市公司接 待人员姓名 | 董秘、副总裁 - 罗芳；证券部 - 何龙光 | | | 1 、酒店转云的驱动力有哪些？ | | | 酒店信息系统的云化，从根本上来说，是因为手机和移动 | | | 互联网的发展，使得 C 端的消费者 ...

Investment Rating - The report maintains a "Buy" rating for Shiji Information (002153) [3] Core Views - The company's product competitiveness is demonstrated by its contracts with renowned hotel brands, both domestically and internationally [2] - The strategic cooperation framework agreement with Jinjiang Hotels (China) is expected to bring long-term financial benefits and enhance the company's brand image [1] - The company's domestic hotel segment has seen significant growth in contract signings, indicating strong competitiveness in Greater China [2] - New business areas, such as destination and scenic spot solutions, are expected to drive domestic revenue growth [2] - The company is well-positioned to benefit from new consumption scenarios, including high-end tourism and theme parks, leveraging its platform synergies [2] Financial Forecasts - Revenue is projected to grow from 2,749.33 million yuan in 2023 to 3,824.86 million yuan in 2026, with a CAGR of 11.56% [5] - EBITDA is expected to increase from 69.84 million yuan in 2023 to 376.81 million yuan in 2026 [5] - Net profit attributable to the parent company is forecasted to rise from -104.62 million yuan in 2023 to 248.95 million yuan in 2026 [5] - EPS is projected to improve from -0.04 yuan per share in 2023 to 0.09 yuan per share in 2026 [5] Market Performance - The company's total market capitalization is 22,270.22 million yuan, with a circulating market capitalization of 13,054.07 million yuan [4] - The stock's 52-week high and low prices are 11.59 yuan and 4.81 yuan, respectively [4] - The 52-week P/E ratio ranges from -21.56 to -220.12, while the P/B ratio ranges from 1.82 to 4.20 [4] - The stock has experienced a 52-week decline of 26.10%, with a turnover rate of 269.46% [4]

Group 1: Cloud Adoption in the Hotel Industry - The demand for cloud-based hotel information systems is driven by the need for C-end consumers to access hotel information directly, which older systems cannot support [2][3] - Transitioning to cloud systems provides intelligent data support for hotel operators, enhances management efficiency, and reduces labor costs [2][3] - Compliance with data security regulations is a significant factor for hotels to adopt cloud systems, as non-cloud systems incur high annual certification costs [3] Group 2: Competitive Advantages of the Company's Cloud Products - The company's SEP platform is designed for group clients, utilizing a microservices architecture that allows for flexible integration and data management [3][4] - The product offers a single customer profile storage, simplifying data management for hotel groups [3] - Major competitors in the market include ORACLE and INFOR, with the company having no strong domestic competitors [3] Group 3: Future Development and Market Expansion - The company has signed contracts with all five major international hotel groups for its cloud dining system, with plans for gradual rollout [4] - The pricing model for cloud products is subscription-based, varying by the number of hotel rooms and service types [4] - The company aims to expand into the mid-to-low-end hotel market with different cloud PMS products tailored for various hotel segments [4] Group 4: Business Trends and Performance Metrics - The overall business is recovering, with a focus on global expansion and platformization as cloud product adoption increases [5] - The company maintains a market share of approximately 50% in the retail information system sector, indicating strong competitive positioning [4][5] - Internal performance metrics are tailored to different development stages and team responsibilities, incorporating various KPIs beyond just sales performance [5]

北京中长石基信息技术股份有限公司 公告 2、本次交易所签署的合作协议属于公司日常经营合同，已经公司 2024 年第七次总裁办 会议审议通过。按照《深圳证券交易所股票上市规则》及《公司章程》等相关规定，无需提 交公司董事会、股东大会审议；公司与交易对手方深圳锦江不存在关联关系，本次交易亦不 构成重大资产重组事项。 二、交易对手方基本情况 1、公司名称：深圳锦江酒店管理有限公司南山分公司 证券代码：002153 证券简称：石基信息 公告编号：2024-30 北京中长石基信息技术股份有限公司 关于全资子公司与锦江酒店（中国区）签订战略合作框架协议的公 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。 一、合同签署概况 1、2024 年 11 月 8 日，北京中长石基信息技术股份有限公司（以下简称"公司"或"石基 信息"）全资子公司杭州西软信息技术有限公司（以下简称"西软信息"）与深圳锦江酒店管 理有限公司南山分公司（代表锦江酒店（中国区），以下简称"深圳锦江"）签订《锦江酒 店（中国区）酒店管理系统战略合作框架协议》（以下简称"战略合作协议"），约定西软信 息为锦 ...

石基信息（002153.SZ）2024 年三季报点评 前三季度扣非利润大幅增长，重要订单落地再次验证实力 2024 年 11 月 01 日 ➢ 事件概述：2024 年 10 月 30 日公司发布 2024 年三季报，2024 年前三季 度公司实现营业收入 20.16 亿元，同比增长 8.46%；归母净利润 1588.34 万元， 同比增长 10.16%。 ➢ 2024 年前三季度扣非业绩高增，重要订单落地再次说明自身实力。2024 年 前三季度公司实现扣非归母净利润 1167.44 亿元，同比增长 123.91%，2024Q3 单季度扣非归母净利润同比减亏。 2024 年 10 月 28 日公司发布公告，公司全资子公司 Shiji Deutschland GmbH 与 Kempinski Hotel S.A.签订协议，约定公司将为客户拥有、特许经营、管理或 经营的酒店以 SaaS 服务的方式提供新一代云架构的企业级酒店信息管理系统石 基企业平台（PMS）、石基支付解决方案等产品。 凯宾斯基酒店集团承诺促使协议中列出的参与酒店在本 SEP-SOW 生效日期至 2025 年 12 月 31 日期间订购石基软件作为 ...

北京中长石基信息技术股份有限公司投资者关系管理活动记录-调研纪要 证券代码：002153 证券简称：石基信息 北京中长石基信息技术股份有限公司 投资者关系活动记录表 | --- | --- | --- | --- | --- | |--------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

证券研究报告 石基信息 (002153 CH) 云 PMS 突破凯宾斯基 年春研究 2024 年 10 月 31 日 | 中国内地 李报点评 计算机应用 石基信息发布三季报,2024年 Q1-Q3 实现营收 20.16 亿元(yoy+8.46%), 归母净利 1588.34 万元（yoy+10.16%）, 扣非净利 1167.44 万元 (yoy+123.91%)｡其中 Q3 实现营收 6.34 亿元(yoy-3.64%, qoq-15.53%), 妇母净利-883.98 万元（yoy-12.04%，qoq-166.30%）。公司为酒店 SaaS 行业龙头,其新一代云架构产品已取得国际头部客户的认可。此外公司通过 积极推进平台化不断触达支付等更多环节,进一步打开成长空间。我们看好 公司云化持续推进,维持"买入"评级。 云 PMS 突破凯宾斯基,云收入有望加速 24Q3 公司发布公告,公司的全资子公司石基德国与凯宾斯基酒店集团签订 协议，约定公司将以 SaaS 服务的方式为客户拥有、特许经营、管理或经 营的酒店提供云架构的企业级酒店信息管理系统石基企业平台、石基支付解 决方案等产品,客户将首先根据其酒店集团规划 ...