Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance relative to the market index [7][11]. Core Insights - The company has demonstrated strong long-term operational capabilities, with its gaming business achieving a revenue of 4.497 billion yuan, reflecting a year-on-year growth of 26.51%. The company plans to launch two new games in overseas markets in H2 2024, which are expected to contribute to revenue growth [2][7]. - The software and information technology services segment has also shown continuous growth, with revenue reaching 1.465 billion yuan, a year-on-year increase of 17.08%. The company has been actively developing its digital technology base, evidenced by the filing of 90 patents and the authorization of 92 patents during the reporting period [2][7]. - The company reported a total revenue of 5.962 billion yuan for 2023, marking a year-on-year increase of 24.06%, and a net profit attributable to shareholders of 888 million yuan, up 63.84% year-on-year [2][7]. Financial Performance Summary - Revenue for 2023: 5.962 billion yuan, with a growth rate of 24.06% [8]. - Net profit for 2023: 888 million yuan, with a growth rate of 63.84% [8]. - Q4 2023 revenue: 1.911 billion yuan, with a year-on-year growth of 21.67% [2]. - Q4 2023 net profit: 324 million yuan, with a year-on-year growth of 104.55% [2]. - Forecasted revenue for 2024-2026: 7.064 billion yuan (2024), 8.074 billion yuan (2025), and 8.992 billion yuan (2026) [7][8]. - Forecasted net profit for 2024-2026: 1.048 billion yuan (2024), 1.216 billion yuan (2025), and 1.355 billion yuan (2026) [7][8].

Investment Rating - The report maintains a "Recommendation" rating for the company, indicating an expectation to outperform the benchmark index by 10%-20% over the next six months [1][17]. Core Insights - The company achieved significant revenue and profit growth in 2023, with total revenue reaching 5.96 billion yuan, a year-over-year increase of 24%, and a net profit attributable to shareholders of 889 million yuan, up 64% year-over-year [1][2]. - The gaming segment, particularly the core product "Sunrise City," set new records, while the AI business saw substantial revenue growth [1]. - The report projects revenue for 2024 and 2025 to be 6.97 billion yuan and 8.09 billion yuan, respectively, with year-over-year growth rates of 17% and 16% [2]. Financial Performance Summary - **Revenue**: 2023 revenue was 5.96 billion yuan, with a year-over-year growth of 24.1%. Forecasts for 2024 and 2025 are 6.97 billion yuan and 8.09 billion yuan, respectively [2]. - **Net Profit**: The net profit for 2023 was 889 million yuan, reflecting a 63.7% increase year-over-year. Expected net profits for 2024 and 2025 are 1.10 billion yuan and 1.28 billion yuan [2]. - **Earnings Per Share (EPS)**: EPS for 2023 was 0.45 yuan, with projections of 0.56 yuan and 0.65 yuan for 2024 and 2025 [2]. - **Valuation Metrics**: The report assigns a target price range of 11.25 to 13.28 yuan based on a 20x price-to-earnings (PE) ratio for the gaming business [1][3]. Business Segment Analysis - **Gaming Business**: Generated 4.5 billion yuan in revenue for 2023, with a year-over-year growth of 27%. The flagship game "Sunrise City" contributed significantly to this growth, achieving a revenue of 3.15 billion yuan, up 42% year-over-year [1]. - **Computer Business**: Revenue reached 1.47 billion yuan, a 17% increase year-over-year, driven by stable growth in ICT operations and cloud services [1]. - **AI Business**: The AI subsidiary, Dingfu Intelligent, reported revenue of 140 million yuan, a remarkable 114% increase year-over-year, primarily due to the expansion of smart telemarketing and collection services [1].

[Table_Title] 证券研究报告 神州泰岳(300002.SZ)年报点评：营收及净利 公司研究 润均创历史新高，新品预计 24H2 海外上线 [Table_ReportType] 公司点评 [Table_ReportDate] 2024年4月19日 神州泰岳(300002.SZ) [T事ab件le：_神Su州mm泰ar岳y]于 2024年4月18日发布2023年度报告，公司全年实现营 投资评级 业收入59.62亿元，同比增长24.06%；实现归母净利润8.87亿元，同比增 上次评级 长63.84%，扣非归母净利润8.29亿元，同比增长85.77%。 点评： [T[aT冯balb翠el_e婷A_uA tu传htoh媒ro]r互 ] 联网及海外 首席分析 ➢ 公司营收及净利润全面创历史新高。公司全年实现营业收入59.62亿 师 元，同比增长24.06%，创历史新高；实现归母净利润8.87亿元，同 执业编号：S1500522010001 比增长63.84%，扣非归母净利润8.29亿元，同比增长85.77%，均创 邮 箱：fengcuiting@cindasc.com 历史新高。单拆23Q4，公司实现营业收入 ...

[Table_Header] 公司点评●游戏 II 2024年 04 月19 日 [Table_Title] [Table_StockCode] 神州泰岳(300002.SZ) 老游稳健运营，新游上线或推动增长 [Table_InvestRank] 推荐 (维持) --公司 2023 年报点评 核心观点： 分析师 [⚫T able事_S件um：m公ar司y]发 布 2023年度报告：2023年公司实现营业收入 59.62亿元，同比 [岳Ta铮b le_Authors] ：010-8092-7630 增长 24.06%；归属于上市公司股东的净利润 8.87亿元，同比增长 63.84%；扣 ：yuezheng_yj@chinastock.com.cn 非归母净利润 8.29亿元，同比增长 85.77%。其中，2023 第四季度实现营业收 分析师登记编码：S0130522030006 入 19.11亿元，同比增长 21.67%；归母净利润 3.24亿元，同比增长 104.55%； 扣非归母净利润 2.92亿元，同比增长 160.45%。 研究助理 祁天睿 ：010-8092-7603 ⚫ 出海老游表现亮眼，增 ...

Investment Rating - The report maintains a "Recommendation" rating for the company, indicating an expectation to outperform the benchmark index by 10%-20% over the next six months [2][23]. Core Insights - The company achieved significant revenue and profit growth in 2023, with total revenue reaching 5.96 billion yuan, a year-over-year increase of 24%, and a net profit of 889 million yuan, up 64% year-over-year [2][3]. - The gaming segment, particularly the core product "Age of Origins," set new records, contributing to a net profit that slightly exceeded market expectations [2]. - The artificial intelligence business showed substantial growth, with revenue from the subsidiary Dingfu Intelligent reaching 140 million yuan, a year-over-year increase of 114% [2]. Financial Performance Summary - Total revenue for 2023 was 5.96 billion yuan, with a year-over-year growth of 24.1% [3]. - The net profit attributable to shareholders was 889 million yuan, reflecting a year-over-year growth of 63.7% [3]. - The company forecasts revenue of 6.98 billion yuan for 2024, representing a year-over-year growth of 17% [3]. - The projected net profit for 2024 is 1.10 billion yuan, with a year-over-year growth of 24.3% [3]. - The earnings per share (EPS) for 2023 was 0.45 yuan, expected to rise to 0.56 yuan in 2024 [3]. Business Segment Analysis - **Gaming Business**: Generated 4.5 billion yuan in revenue for 2023, with a year-over-year increase of 27%. The gross margin improved to 71.1%, up 3.6 percentage points year-over-year [2]. - **Computer Business**: Achieved revenue of 1.47 billion yuan, a year-over-year increase of 17%. The AI segment is expected to continue its growth trajectory into 2024 [2]. Valuation and Price Target - The report sets a target price range for the company's stock between 11.25 and 13.28 yuan, based on a price-to-earnings (P/E) ratio of 20x for the gaming business [2][5].

神州泰岳20240418 全文概要 该会议讨论了神州泰岳2023年的财务表现、业务板块成绩以及 未来发展战略。神州泰岳2023年营收达到59.62亿元，同比增 长24.06%,净利润8.87亿元，同比增长63.84%,扣非净利润 8.29亿元，同比增长85.77%。基本每股收益0.4550元，同比 增长60.14%。游戏业务是公司收入的主要来源，实现44.97亿 元的收入，同比增长26.51%,软件业务也有所增长，收入为14.65 亿元，同比增长17.08%。 公司的游戏业务因精品策略和长线运营战略实现显著增长，核心 产品《旭日之城》和《战火与秩序》季度环比增长，充值流水分 别达到9.26亿元和2.90亿元。计算机业务方面，云服务和 Al 领域的快速发展带来了营收增长和结构调整的成果，特别是与亚 马逊云合作，服务超过400家中国出海企业，并计划提供更多增 ...

Investment Rating - Buy rating maintained for the company [2] Core Views - The company's core game revenue reached a new high, driven by the strong performance of "Age of Origins" and "War and Order" [5] - AI-related businesses and new games are expected to drive long-term growth [5] - The company's 2023 revenue was 5.962 billion yuan, a year-on-year increase of 24.06%, with net profit attributable to shareholders reaching 887 million yuan, up 63.84% year-on-year [5] - Gross margin improved to 62.73%, and net margin increased to 14.88% due to cost-saving measures and improved operational efficiency [5] - The company's long-term operational capabilities were validated, with "Age of Origins" generating 3.154 billion yuan in revenue and "War and Order" generating 1.135 billion yuan [6] - Two new SLG games, one with a sci-fi theme and the other with a civilization theme, are expected to be launched overseas in 2024, further driving growth [6] - AI technology is being applied across the company's businesses, including game development and intelligent debt collection, which is expected to contribute to rapid revenue growth [7] Financial Performance and Projections - 2023 Q4 revenue was 1.911 billion yuan, up 21.67% year-on-year, with net profit attributable to shareholders reaching 324 million yuan, up 105.25% year-on-year [5] - The company's 2024-2026 net profit is projected to be 1.073 billion yuan, 1.249 billion yuan, and 1.474 billion yuan, respectively, with EPS of 0.55 yuan, 0.64 yuan, and 0.75 yuan [5] - The current P/E ratio is 16.0x for 2024, 13.8x for 2025, and 11.7x for 2026 [5] - Revenue is expected to grow by 19.0% in 2024, 15.2% in 2025, and 13.2% in 2026 [8] - Net profit is projected to grow by 21.0% in 2024, 16.4% in 2025, and 18.0% in 2026 [8] - Gross margin is expected to remain stable, with slight increases from 63.0% in 2024 to 64.4% in 2026 [8] Business Segments - The company's game business continues to perform well, with "Age of Origins" and "War and Order" maintaining high revenue levels [6] - The company is leveraging AI tools to improve game development efficiency and reduce costs, while also enhancing the user experience [7] - The "Taiyue Xiaocui" platform has been upgraded to "Taiyue Zhihu," focusing on intelligent sales and debt collection, which is expected to drive growth in AI-related businesses [7]

Investment Rating - The report maintains a "Buy" rating for the company [4]. Core Insights - In 2023, the company achieved a record high performance with revenue of 5.962 billion yuan, a year-on-year increase of 24.06%, and a net profit attributable to shareholders of 887 million yuan, up 63.84% year-on-year [1]. - The gaming business showed significant improvement with a revenue of 4.497 billion yuan, a 26.51% increase year-on-year, and a net profit of 1.105 billion yuan, growing 44.46% year-on-year [1]. - The company is set to launch two new SLG games overseas in 2024, which are expected to drive further growth in the gaming sector [2]. - The AI/ICT operations management business saw a revenue increase of 20.08% year-on-year, with innovative business revenue growing by 45.10% [2]. - The company is focused on enhancing its core AI technologies, with the "Taiyue Xiaocui" platform significantly improving operational efficiency for collection agencies [2]. Financial Overview - The company reported a total revenue of 5.962 billion yuan in 2023, with a year-on-year growth rate of 24.1% [3]. - The net profit attributable to shareholders for 2023 was 887 million yuan, reflecting a year-on-year growth of 63.8% [3]. - The projected revenues for 2024, 2025, and 2026 are 7.035 billion yuan, 8.091 billion yuan, and 9.062 billion yuan respectively, with corresponding net profits of 1.003 billion yuan, 1.191 billion yuan, and 1.353 billion yuan [3][11]. - The company's P/E ratios for the next three years are projected to be 18x, 15x, and 13x respectively [2]. Business Segments - The gaming segment is expected to continue its growth trajectory with the successful performance of existing titles and the introduction of new games [1][2]. - The software and information technology services segment is expanding, particularly in ICT operations management and cloud services, contributing to overall revenue growth [2]. - The company is leveraging its AI capabilities to enhance service offerings, particularly in the financial sector, which is expected to drive future revenue [2].

证券代码：300002 证券简称：神州泰岳 公告编号：2024-013 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、本次计提资产减值准备的情况 为真实反映公司财务状况和经营成果，依据《企业会计准则》及公司会计政 策的相关规定，公司于 2023 年末对合并报表范围内的各类资产进行了全面清查， 判断存在可能发生减值的迹象。本着谨慎性原则，对应收款项、合同资产、存货、 无形资产、开发支出、商誉等资产计提了减值准备。公司本次计提信用减值准备 及资产减值准备共计人民币 100,928,712.62元，转回信用减值准备 11,580,772.83元， 具体如下： | 项目 | 期初余额 | 本期计提 | 本期转回 | 其他变化 | 本期核销 | 期末余额 | | --- | --- | --- | --- | --- | --- | --- | | 应收票据坏账准备 | 2,299,661.12 | 661,220.40 | 2,299,661.12 | | | 661,220.40 | | 应收账款坏账准备 | 287,277,851.86 | 8,463,66 ...

北京神州泰岳软件股份有限公司 董事会审计委员会实施细则 第一章 总则 第一条 为强化董事会决策功能，持续完善公司内控体系建设，确保董事会 对经理层的有效监督管理，不断完善公司治理结构，根据《中华人民共和国公司 法》、《北京神州泰岳软件股份有限公司章程》（以下简称"《公司章程》"）及其他 有关规定，公司特设立董事会审计委员会，并制定本实施细则。 第二条 董事会审计委员会是董事会设立的专门工作机构，主要负责公司与 外部审计的沟通及对其的监督核查、对内部审计的监管、公司内部控制体系的评 价与完善，以及对公司正在运作的重大投资项目等进行风险分析。 第二章 人员组成 第三条 审计委员会由三名董事组成，独立董事占多数并担任召集人，委员 中至少有一名独立董事为专业会计人士，审计委员会成员应当为不在公司担任高 级管理人员的董事。 审计委员会设主席一名，由独立董事担任，且应为会计专业人士，负责主持 委员会工作。审计委员会主席由董事会在委员中任命。 第五条 审计委员会任期与董事会一致，委员任期届满，连选可以连任。期 间如有委员不再担任公司董事职务，自动失去委员资格，并由董事会根据上述第 三至第四条的规定补足委员人数。 第六条 审 ...