Group 1: Company Acquisition and Product Offerings - The acquisition of Qingdao Haishi enables the company to provide integrated hardware solutions for software users in the hotel, restaurant, and retail sectors, enhancing innovation in cloud systems [1] - Haishi's commercial cash register has maintained a leading position in the domestic market for over a decade, alongside a small portion of software services for clients like Sinopec and PetroChina [1] Group 2: Cloud Deployment Strategy - The company is focusing on public cloud deployment for its next-generation information systems, as public cloud offers scalability and extensibility that private cloud cannot match [2] Group 3: Hotel Software Market Dynamics - The process for high-end hotel groups to select core systems involves strategic planning, supplier information gathering, and multiple stages of evaluation, including RFI and RFP [3] - The signing of the Master Service Agreement (MSA) is typically non-exclusive, allowing hotel groups to procure cloud products without exclusivity, although operational efficiency may lead to a preference for single-system usage [4][5] Group 4: Next-Generation Product Features - The Shiji Enterprise Platform integrates guest services, sales, distribution, and guest experience, creating a cohesive ecosystem [6] - The platform is designed with a microservices architecture, enhancing operational efficiency and addressing long-standing pain points in hotel management [6] Group 5: Benefits of Cloud Transition for Hotels - Transitioning to cloud-based systems provides intelligent decision-making support, improves management efficiency, and reduces labor costs for hotel operators [7] - Compliance with stringent data security regulations, such as China's Personal Data Protection Law and GDPR in Europe, is a significant driver for hotels to adopt cloud solutions [8] Group 6: AI Integration and Partnerships - The company is actively exploring AI applications to enhance cloud products, focusing on internal auditing and data analysis for operational forecasting [8] - The relationship with third-party booking platforms, such as Meituan, is collaborative, with Shiji's distribution system connecting hotel information systems to various booking channels [8]

Group 1: Cloud Product Pricing and Features - The new generation cloud products are charged on a subscription basis, with fees calculated monthly based on the number of hotel rooms [1] - The pricing of the cloud products is higher compared to competitors due to their relative advantages as reported by third-party professional companies [1] - The pricing varies depending on the type of hotel service selected, with Full Service and Limited Service hotels having different pricing structures [1] Group 2: Market Strategy and Risks - The company does not sign exclusive agreements in the Master Service Agreement (MSA), allowing flexibility for clients to procure cloud products [7] - Concerns regarding US-China relations are a primary risk, but the company continues to promote its globally adopted INFRASYS CLOUD system [7] - The company aims to reduce the impact of geopolitical concerns by increasing the number of high-profile hotel clients globally [7] Group 3: Customer Preferences and Market Trends - Customers prioritize performance and meeting their needs over pricing when selecting hotel information systems [11] - The shift to cloud systems is driven by the need for data security compliance with increasing regulations, such as the Personal Data Protection Law in China [8] - The industry consensus is that cloud migration is essential for hotel operations to provide intelligent decision-making support [8] Group 4: Future Business Development - The company’s focus is on globalization and platformization, with an emphasis on expanding its customer base for cloud products [11] - The goal is to achieve cash flow breakeven in overseas operations as the number of international clients increases [11] - Continuous exploration of AI applications is underway to maintain technological leadership in cloud products [11]

证券代码：002153 证券简称：石基信息 投资者关系活动记录表 为酒店核心系统必须是集团决定，国际酒店集团都会进行招标， | --- | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | 会聘请三方顾问公司提供专业评估。 | | 2 、云产品是怎样定价的？ | | SaaS 型业务按订阅费方式来收取费用，比如云 ...

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 ...