Investment Rating - The report maintains a "Buy" rating for the company, with an expected revenue growth of 10.90% for 2024 and a projected PE ratio of 28.76x [5]. Core Insights - The company reported a revenue of 3.436 billion RMB for the first three quarters of 2024, representing a year-on-year growth of 10.05%. However, the net profit attributable to shareholders decreased by 9.34% to 226 million RMB [2]. - In Q3 alone, the company achieved a revenue of 1.192 billion RMB, up 8.47% year-on-year, with a net profit of 106 million RMB, marking a 7.15% increase and a new quarterly high for net profit [2]. - The company is actively expanding its second growth curve, with software products and solutions revenue growing by 11.35% year-on-year, slightly above the overall revenue growth rate [3]. - The company has added 15 new corporate clients during the reporting period, with significant revenue growth from small and medium banks, non-bank financial institutions, and non-financial institutions [3]. - The company is advancing its AI applications, having launched an AI large model service platform and several key products, which are expected to enhance its service offerings [4]. Summary by Sections Performance Review - For the first three quarters of 2024, the company achieved a revenue of 3.436 billion RMB, a 10.05% increase year-on-year, while the net profit attributable to shareholders was 226 million RMB, down 9.34% [2]. - In Q3, the revenue reached 1.192 billion RMB, an 8.47% increase year-on-year, with a net profit of 106 million RMB, up 7.15% [2]. Operational Analysis - The second growth curve is progressing steadily, with software products and solutions revenue increasing by 11.35% year-on-year, slightly above the overall revenue growth [3]. - The company has successfully added 15 new corporate clients, with revenue growth rates of 19.03%, 21.73%, and 32.57% from small and medium banks, non-bank financial institutions, and non-financial institutions, respectively [3]. - Cost and expense growth was stable at 9.04%, slightly above revenue growth, with a slight decline in gross margin [3]. Profitability Forecast - The revenue forecast for 2024-2026 has been adjusted to 47.04 billion RMB, 52.97 billion RMB, and 59.59 billion RMB, with year-on-year growth rates of 10.90%, 12.60%, and 12.50% respectively [5]. - The net profit forecast for the same period is adjusted to 336 million RMB, 401 million RMB, and 477 million RMB, with growth rates of -3.32%, 19.21%, and 19.15% respectively [5].

Group 1: Company Overview - Beijing Beifang Information Technology Co., Ltd. is a leading provider of digital transformation services in China, focusing on information technology services and business process outsourcing [1] - The company has established a strong client base in the financial technology sector, primarily serving banks, insurance, securities, trust, fund, and asset management companies [1] - In the first three quarters of 2024, the company achieved a revenue of 3.436 billion yuan, reflecting a double-digit growth despite industry pressures [1] Group 2: Financial Performance - In Q3 2024, the company reported a revenue of 1.192 billion yuan, a year-on-year increase of 8.47% [2] - The net profit for the same period reached 106 million yuan, with a growth of 7.15% [2] - The non-net profit was 103 million yuan, showing an increase of 8.51% year-on-year [2] Group 3: Business Development and Strategy - The company is actively expanding its client base, targeting small and medium-sized banks, non-bank financial institutions, and non-financial institutions [2] - Revenue from software products and solutions grew by 11.35% year-on-year, with small and medium banks seeing a 19.03% increase, non-bank financial institutions 21.73%, and non-financial institutions 32.57% [2] - The company has completed 250 copyright registrations and 17 national-level certifications in the field of financial technology [2] Group 4: Future Outlook - The company plans to enhance its operational efficiency and profitability through lean operations and continuous improvement [2] - It aims to maintain technological foresight by increasing research and development investments in big data, artificial intelligence, and blockchain [2] - The company is positioned to leverage policy opportunities to expand its business with small and medium-sized banks and other emerging clients [3]

Investment Rating - The report maintains a "Buy" rating for the company with an updated target price of 25.00 CNY [2][6]. Core Insights - The company's gross margin has improved quarter-on-quarter, leading to a return to profit growth in the latest quarter. For the first three quarters of 2024, the company achieved a revenue of 3.436 billion CNY, a year-on-year increase of 10.05%. In Q3 alone, revenue reached 1.192 billion CNY, up 8.47% year-on-year, aligning with expectations. The net profit attributable to shareholders for the first three quarters was 226 million CNY, down 9.34% year-on-year, but the decline has narrowed compared to the first half of the year. Notably, Q3 net profit was 106 million CNY, reflecting a year-on-year growth of 7.15% [2][6]. Financial Summary - Revenue and Profit Forecasts: - 2024E Revenue: 4.754 billion CNY, a growth of 12.1% from 2023A - 2025E Revenue: 5.439 billion CNY, a growth of 14.4% from 2024E - 2026E Revenue: 6.208 billion CNY, a growth of 14.1% from 2025E - 2024E Net Profit: 339 million CNY, a decrease of 2.4% from 2023A - 2025E Net Profit: 408 million CNY, a growth of 20.2% from 2024E - 2026E Net Profit: 474 million CNY, a growth of 16.3% from 2025E [3][11]. - Earnings Per Share (EPS) Forecast: - 2024E EPS: 0.55 CNY - 2025E EPS: 0.66 CNY - 2026E EPS: 0.77 CNY [2][3]. - Valuation Metrics: - The average PE ratio for comparable companies in 2025 is projected at 37.87 times [2][12]. Industry Context - The banking sector, particularly state-owned banks, is experiencing a slowdown in IT spending growth, coupled with increased project implementation challenges due to intensified competition. Despite these pressures, the company has successfully reversed the trend of declining gross margins through improved internal management. The gross margin for Q3 was 24.59%, reflecting a quarter-on-quarter increase of 2.40 percentage points, which was a key driver for the net profit margin increase of 2.53 percentage points [2][6]. - The report suggests that industry profit margins have likely bottomed out, with the company positioned to lead a recovery in profitability as competitors adopt more conservative operational strategies [2][6].

证券代码：002987 证券简称：京北方 公告编号：2024-054 京北方信息技术股份有限公司 第四届监事会第五次会议决议公告 本公司及监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、监事会会议召开情况 具体内容详见公司同日于巨潮资讯网（www.cninfo.com.cn）披露的《关于回 购注销 2023 年股票期权与限制性股票激励计划部分限制性股票并调整回购价格 的公告》（公告编号：2024-057）。 表决结果：同意 3 票，反对 0 票，弃权 0 票。 3、审议通过《关于 2023 年股票期权与限制性股票激励计划首次授予部分限 制性股票第一个解除限售期解除限售条件成就的议案》； 经审核，监事会认为：公司 2023 年股票期权与限制性股票激励计划首次授 予部分限制性股票第一个解除限售期解除限售条件已满足，相关业绩指标及考核 结果均真实、有效，不存在虚假、故意隐瞒等情况；相关主体不存在依据法律、 法规、规范性文件及公司 2023 年股票期权与限制性股票激励计划不得解除限售 的情形。激励对象的个人层面绩效考核结果合规、真实，不存在虚假、故意隐瞒 等相关情况，符合 ...

Financial Performance - The company's revenue for Q3 2024 reached ¥1,192,435,683.41, an increase of 8.47% compared to the same period last year[3] - Net profit attributable to shareholders was ¥105,625,121.73, reflecting a growth of 7.15% year-on-year[3] - The net profit after deducting non-recurring gains and losses was ¥102,741,852.72, up by 8.51% from the previous year[3] - Total operating revenue for Q3 2024 reached CNY 3,436,354,876.49, an increase of 10.06% compared to CNY 3,122,609,695.43 in the same period last year[16] - Net profit for Q3 2024 was CNY 225,553,546.61, compared to CNY 248,793,985.68 in Q3 2023, indicating a decrease of 9.34%[17] - The total comprehensive income for the third quarter was ¥225,553,546.61, compared to ¥248,793,985.68 in the previous year, reflecting a decrease of approximately 9.3%[18] Assets and Liabilities - Total assets as of the end of Q3 2024 amounted to ¥3,236,277,871.35, representing a 5.32% increase from the end of the previous year[3] - The company's total assets as of Q3 2024 were CNY 3,236,277,871.35, compared to CNY 3,072,875,390.74 at the end of the previous year, representing an increase of 5.33%[16] - The total liabilities for Q3 2024 were CNY 528,458,932.67, slightly up from CNY 526,764,409.93, reflecting a marginal increase of 0.32%[16] - The company's accounts receivable increased by 57.14% to ¥1,401,957,306.87, primarily due to increased revenue and delayed cash collections[6] - Contract assets increased to CNY 945,480,548.95 from CNY 691,298,016.11, representing a significant rise of 36.73%[16] - The company reported a decrease in accounts payable from CNY 2,260,715.58 to CNY 1,525,689.64, a reduction of 32.54%[16] Shareholder Information - Shareholders' equity attributable to the parent company increased to ¥2,707,818,938.68, a rise of 6.35% year-on-year[3] - The total number of common shareholders at the end of the reporting period is 44,244, with the largest shareholder holding 51.40% of shares, amounting to 317,633,975 shares[8] - The second-largest shareholder holds 6.80% of shares, totaling 42,033,019 shares[8] - The shareholder structure indicates a concentration of ownership, with the top two shareholders holding a combined 58.20% of the total shares[8] Cash Flow - Cash flow from operating activities showed a net outflow of ¥669,948,521.81, indicating a significant change from the previous year[3] - Cash inflow from operating activities totaled ¥2,979,073,875.56, an increase of 16.3% compared to ¥2,562,448,322.05 in the prior year[20] - Cash outflow from operating activities was ¥3,649,022,397.37, up from ¥3,178,835,011.51, representing an increase of 14.8%[20] - Investment activities generated a net cash inflow of ¥144,975,422.18, compared to ¥72,451,451.47 in the previous year, showing an increase of 100%[20] - The company received cash from investment recoveries amounting to ¥820,000,000.00, down from ¥1,552,000,000.00 in the previous year, a decrease of 47.2%[20] - The company reported a total cash outflow from financing activities of ¥91,154,040.31, which was significantly higher than the previous year's outflow of ¥44,923,729.50, indicating an increase of 102.5%[20] Operational Metrics - The company's basic earnings per share for Q3 2024 was ¥0.17, an increase of 6.25% compared to the same period last year[3] - Basic and diluted earnings per share for the quarter were both ¥0.37, down from ¥0.40 in the same period last year, indicating a decline of 7.5%[18] - The weighted average return on equity was 3.98%, a decrease of 0.14% from the previous year[3] - Research and development expenses amounted to CNY 316,494,497.72, an increase from CNY 299,911,631.61, showing a growth of 5.52% year-over-year[17] Other Information - The company completed the registration for the first exercise period of its stock option and restricted stock incentive plan, with a total of 1,962,732 stock options available for exercise[12] - The company has initiated a stock repurchase plan for part of the restricted stock from its incentive plan, adjusting the repurchase price accordingly[13] - The company has not disclosed any new product launches or technological developments in this reporting period[10] - There is no mention of market expansion or mergers and acquisitions in the current report[10] - The company has not provided specific future guidance or performance outlook in this report[10] - The cash and cash equivalents decreased to 315,550,957.56 RMB from 809,814,660.79 RMB, reflecting a decline of about 61%[14] - Cash and cash equivalents at the end of the period were ¥301,064,449.20, compared to ¥242,347,651.82 at the end of the previous year, reflecting an increase of 24.2%[20] - The third quarter report was not audited, as indicated by the company[21]

京北方信息技术股份有限公司 监事会同意本次符合条件的 2 名首次授予激励对象办理解除限售相关事宜， 第一个解除限售期可解除限售的限制性股票数量 168,000 股。上述事项均符合相 关法律、法规及规范性文件所规定的条件，不存在损害公司及股东利益的情形。 监事会关于2023年股票期权与限制性股票激励计划首次授 予部分限制性股票第一个解除限售期相关事项的核查意见 京北方信息技术股份有限公司（以下简称"公司"）监事会根据《上市公司 股权激励管理办法》等相关法律法规、规范性文件以及《京北方信息技术股份有 限公司章程》（以下简称"《公司章程》"）、公司《2023 年股票期权与限制性 股票激励计划》的规定，对公司 2023 年股票期权与限制性股票激励计划首次授 予部分限制性股票第一个解除限售期相关事项进行审核，并发表核查意见如下： 经核查，根据《上市公司股权激励管理办法》、公司《2023 年股票期权与限 制性股票激励计划》等有关法律、法规和规范性文件的规定，公司 2023 年股票 期权与限制性股票激励计划首次授予限制性股票的 2 名激励对象中，1 名激励对 象个人绩效考核评价结果为 A，对应第一个解除限售期解除限售比例为 ...

证券代码：002987 证券简称：京北方 公告编号：2024-055 京北方信息技术股份有限公司 关于召开2024年第一次临时股东大会的通知 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。 京北方信息技术股份有限公司（以下简称"公司"）于 2024 年 10 月 28 日召 开的第四届董事会第七次会议审议通过了《关于提请召开 2024 年第一次临时股东 大会的议案》，决定于 2024 年 11 月 15 日召开公司 2024 年第一次临时股东大会。 现将具体事项通知如下： 一、召开会议的基本情况 1、股东大会届次：2024 年第一次临时股东大会。 2、股东大会的召集人：公司董事会。本次股东大会由公司第四届董事会第七 次会议决议召开。 3、会议召开的合法性、合规性：本次股东大会的召集、召开符合《公司法》 《证券法》《上市公司股东大会规则》《深圳证券交易所股票上市规则》《深圳证 券交易所上市公司规范运作指引》等有关法律、行政法规、部门规章、规范性文件 和《公司章程》的规定。 4、会议召开的日期、时间： （1）现场会议召开时间：2024 年 11 月 15 日（星期 ...

证券代码：002987 证券简称：京北方 公告编号：2024-058 京北方信息技术股份有限公司 关于2023年股票期权与限制性股票激励计划首次授予部分 限制性股票第一个解除限售期解除限售条件成就的公告 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。 特别提示： 1、京北方 2023 年股票期权与限制性股票激励计划首次授予部分限制性股票 第一个解除限售期解除限售条件已经成就，符合解除限售条件的激励对象共 2 名， 本次解除限售的股票数量为 168,000 股，占公司目前总股本的 0.03%； 2、本次限制性股票办理完解除限售手续在上市流通前，公司将发布相关提 示性公告，敬请投资者注意。 京北方信息技术股份有限公司于 2024 年 10 月 28 日召开第四届董事会第七 次会议、第四届监事会第五次会议审议通过了《关于 2023 年股票期权与限制性 股票激励计划首次授予部分限制性股票第一个解除限售期解除限售条件成就的 议案》，根据公司《2023 年股票期权与限制性股票激励计划》（以下简称"本激 励计划"）的相关规定及 2023 年第二次临时股东大会授权，董事会认为 ...

北京金诚同达律师事务所 关于 京北方信息技术股份有限公司 2023 年股票期权与限制性股票激励计划 回购注销部分限制性股票并调整回购价格、 首次授予部分限制性股票第一个解除限售期 解除限售条件成就事项的 法律意见书 金证法意[2024]字 1028 第 0591 号 中国北京市建国门外大街1号国贸大厦A座十层 100004 电话：010-5706 8585 传真：010-8515 0267 金诚同达律师事务所 法律意见书 北京金诚同达律师事务所 关于京北方信息技术股份有限公司 2023 年股票期权与限制性股票激励计划 回购注销部分限制性股票并调整回购价格、 首次授予部分限制性股票第一个解除限售期 解除限售条件成就事项的 法律意见书 金证法意[2024]字 1028 第 0591 号 致：京北方信息技术股份有限公司 北京金诚同达律师事务所（以下简称"本所"）接受京北方信息技术股份有 限公司（以下简称"京北方"或"公司"）的委托，作为公司 2023 年股票期权与 限制性股票激励计划（以下简称"本次激励计划"）的特聘专项法律顾问，为本 次激励计划提供法律服务。本所律师根据《中华人民共和国公司法》、《中华人民 共和国 ...

关于独立董事辞职暨补选独立董事和调整 董事会专门委员会的公告 证券代码：002987 证券简称：京北方 公告编号：2024-056 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。 京北方信息技术股份有限公司 一、独立董事辞职的情况 京北方信息技术股份有限公司（以下简称"公司"）董事会于近日收到公司 独立董事瞿建耀先生的书面辞职报告。瞿建耀先生因个人原因申请辞去公司第四 届董事会独立董事职务，并同时辞去所担任的董事会提名委员会主任委员、战略 委员会委员职务。辞职后，瞿建耀先生将不再担任公司任何职务。截至本公告披 露日，瞿建耀先生未持有本公司股票，也不存在应当履行而未履行的承诺事项。 根据《上市公司独立董事管理办法》《深圳证券交易所股票上市规则》《深 圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》及《公 司章程》等有关规定，瞿建耀先生的辞职将导致公司独立董事人数少于董事会成 员的三分之一，因此其辞职申请将在公司股东大会选举产生新任独立董事后生 效。在此之前，瞿建耀先生仍应当按照有关法律、行政法规和《公司章程》的规 定，继续履行独立董事及相关董 ...