证券代码：300033 证券简称：同花顺 公告编号：2024-029 浙江核新同花顺网络信息股份有限公司 关于股票交易异常波动公告 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、股票交易异常波动的具体情况 浙江核新同花顺网络信息股份有限公司（以下简称"公司"或"本公司"） 连续 3 个交易日内（2024 年 9 月 26 日、9 月 27 日、9 月 30 日）收盘价格涨幅 偏离值累计达到 30%以上，根据深圳证券交易所相关规定，属于股票交易异常波 动的情况。 本公司董事会确认，本公司目前没有任何根据《创业板股票上市规则》等有 关规定应予以披露而未披露的事项或与该事项有关的筹划、商谈、意向、协议等； 董事会也未获悉本公司有根据《创业板股票上市规则》等有关规定应予以披露而 二、公司关注并核实的情况说明 针对公司股票交易异常波动情况，公司就相关事项进行了核实，现就相关情 况说明如下： 1.公司前期披露的信息不存在需要更正、补充之处； 2.公司未发现近期公共传媒报道了可能或已经对公司股票交易价格产生较 大影响的未公开重大信息； 3.公司目前的经营情况及内外部经 ...

Investment Rating - The report maintains an "Accumulate" rating for the company Tonghuashun (300033) [3]. Core Insights - In H1 2024, the company achieved operating revenue of 1.389 billion yuan, a year-on-year decrease of 5.51%. The net profit attributable to shareholders was 363 million yuan, down 20.99% year-on-year [3][4]. - The company is focusing on AI applications, launching multiple products across various business segments, including financial information, investment research, and customer service [3][4]. Financial Performance Summary - For H1 2024, the average daily trading volume in the market was 984.6 billion yuan, a decline of 6.8% year-on-year. The company's value-added telecommunications business revenue was 769 million yuan, down 10.96% year-on-year [3]. - The company's contract liabilities reached 1.202 billion yuan, reflecting a year-on-year growth of 9.7% [3]. - The report forecasts the company's net profit attributable to shareholders for 2024, 2025, and 2026 to be 1.052 billion yuan, 1.446 billion yuan, and 1.748 billion yuan, respectively [4]. Key Financial Metrics - The company's gross profit margin for H1 2024 was 84.9%, a decrease of 1.16 percentage points year-on-year. The sales, management, and R&D expense ratios were 17.44%, 8.23%, and 42.62%, respectively, with year-on-year increases of 2.29, 1.36, and 4.31 percentage points [3][4]. - The report provides projections for operating revenue and net profit for the years 2024E to 2026E, indicating a revenue forecast of 3.233 billion yuan in 2024E, with a year-on-year decline of 9.3% [5].

[ T able_StockInfo] 2024 年 09 月 02 日 证券研究报告•2024 年半年报点评 买入 （维持） 当前价：102.91 元 同 花 顺（300033）计算机 目标价：126.36 元（6 个月） 持续加大 AI 研发投入，合同负债增长稳健 [Table_Summary 事件：公司发布] 2024 年半年报，2024H1 实现营收 13.9 亿元，同比下滑 5.5%；实现归母净利润 3.6 亿元，同比下滑 21.0%；实现扣非归母净利润 3.4 亿元，同比下降 23.3%。单 Q2 实现营收 7.7 亿元，同比下滑 10.5%；实现归 母净利润 2.6 亿元，同比下滑 23.2%；实现扣非归母净利润 2.5 亿元，同比下 滑 26.3%。 广告导流业务逆势增长，收入端小幅承压。公司整体业务受市场情绪影响， 24H1 两市总成交额合计达 100.3万亿元，同比下降 10.0%。分业务来看：1） 增值电信业务 24H1实现营收 7.7亿元，同比下滑 11.0%。2）广告及互联网业 务营收同比+9.5%至 3.5 亿元。3）软件销售及维护实现营收 1.0 亿元，同比下 滑 7.2%。4） ...

[Table_MainInfo] 公司研究/信息服务/互联网软件与服务 证券研究报告 同花顺（300033）公司半年报点评 2024 年 09 月 03 日 [Table_InvestInfo] 投资评级 优于大市 维持 | --- | |---------------------------------------------------------| | 股票数据 | | 09 [ Table_StockInfo 月 02 日收盘价（元） ] | | 52 周股价波动（元） | | 总股本 / 流通 A 股（百万股） | | 总市值 / 流通市值（百万元） | | | | 相关研究 | | [Table_ReportInfo] 《整体经营稳健，研发投入持续提升》 | | 2024.05.06 | | 《经营稳健，研发投入持续增加》 | | 《研发投入持续增加，费用上升导致利润同比 | | 下滑》 2024.01.04 市场表现 | 同花顺 海通综指 -41.39% -32.39% -23.39% -14.39% -5.39% 2023/9 2023/12 2024/3 2024/6 | --- | --- ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% relative to the industry index within the next six months [12]. Core Views - The company is viewed positively for its long-term development prospects despite short-term market challenges affecting consumer demand [2][5]. - The company has increased its investment in sales and research and development, focusing on artificial intelligence (AI) and enhancing its product competitiveness [2][5]. Financial Summary - The company's total revenue for H1 2024 was 1.389 billion yuan, a year-on-year decrease of 5.51%, but a quarter-on-quarter increase of 24.53% [1]. - The net profit attributable to shareholders for H1 2024 was 363 million yuan, down 20.99% year-on-year, but up 149.38% quarter-on-quarter [1]. - The projected diluted EPS for 2024, 2025, and 2026 are 1.85, 2.03, and 2.15 yuan, respectively, with corresponding P/E ratios of 52.34, 47.58, and 45.09 [2][8]. Revenue and Cost Analysis - The company's total operating costs for H1 2024 were 1.027 billion yuan, reflecting a year-on-year increase of 3.83% [2]. - Research and development expenses rose by 5.12% to 592 million yuan, while management and sales expenses increased by 13.26% and 8.78%, respectively [2]. - The gross profit margin for the company is projected to decline to 82.34% in 2024, with a net profit margin of 28.50% [8]. Market Position and Strategy - The company is recognized as a leading provider of internet financial information services in China, with significant competitive advantages in various aspects such as product offerings, customer resources, and brand recognition [2][5]. - The company is actively integrating AI technologies into its existing product and service systems, aiming to enhance user experience and product quality [2].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is experiencing pressure on performance but is increasing investments in AI while awaiting market recovery [1] - The company reported a revenue of 1.389 billion yuan for H1 2024, a decrease of 5.51% year-on-year, and a net profit of 363 million yuan, down 20.99% year-on-year [3] - The company is focusing on enhancing its AI capabilities and integrating them into existing products to improve monetization [7] Financial Performance - In H1 2024, the company's sales, management, and R&D expense ratios were 17.44%, 8.23%, and 42.62%, respectively, with year-on-year increases of 2.29, 1.36, and 4.31 percentage points [2] - The company's contract liabilities increased by 9.67% year-on-year to 1.202 billion yuan, indicating operational resilience [5] - The company’s revenue from various business segments showed mixed results, with value-added telecom services down 10.96% and software sales down 7.19% year-on-year [4] AI Investment and Development - The company is intensifying its R&D in AI technologies, achieving advancements in areas such as large models, natural language processing, and machine translation [6] - The launch of the HithinkGPT large model positions the company as a leader in the financial dialogue model space, enhancing its service capabilities [7] Earnings Forecast - The company is projected to achieve revenues of 3.674 billion yuan, 4.054 billion yuan, and 4.508 billion yuan for 2024, 2025, and 2026, respectively, with corresponding net profits of 1.353 billion yuan, 1.539 billion yuan, and 1.759 billion yuan [8] - The expected EPS for the same years is 2.52 yuan, 2.86 yuan, and 3.27 yuan per share, with current P/E ratios of 38, 34, and 30 times [8]

公司点评报告 · 计算机行业 费仍承压,合同负债指标向好 — 2024 年中报业绩点评 2024年8月25日 ● ● 事件:公司发布 2024 年中报,报告期内实现营收 13.89 亿元,同比下滑 5.51%;实现归母净利润 3.63 亿元,同比下滑 20.99%;销售毛利率为 84.85%; 扣非归母净利润 3.44 亿元,同比下滑 23.26%。 广告及互联网板块同比增长,业绩仍受证券市场影响:作为金融信息服务行 业的龙头企业,公司持续巩固技术优势、拓展服务深度。报告期内,公司增值 电信业务板块营收为 7.69亿元,同比下滑 10.96%;广告及互联网业务推广服 务板块营收为3.50 亿元,同比增长9.45%;软件销售及维护板块营收为1.03 亿元,同比下滑7.19%;基金代销及其他交易板块营收为1.68亿元,同比下 滑 4.91%。2024Q2 A 股日均成交额下滑至 8352.17 亿元,相较 2023Q2 A 股 日均成交额 10229.55 亿元同比下滑 18.35%。2024年上半年,公司积极强化 AI 技术以提升软件产品竞争力,广告及互联网业务推广服务投入同比增加 20.59%;主营增值电信业 ...

Investment Rating - The report maintains a "Buy" rating for the company [3][7]. Core Views - The company reported a revenue of 1.39 billion RMB in the first half of 2024, a year-on-year decline of 5.5%, and a net profit attributable to shareholders of 340 million RMB, down 23.3% year-on-year [1]. - The decline in revenue is attributed to a decrease in average daily trading volume in the A-share market, which fell by 8% year-on-year [2]. - The company is focusing resources on artificial intelligence, particularly in talent acquisition and computational resource development, launching various AI products and services [2]. Summary by Sections Performance Overview - In Q2 2024, the company achieved a revenue of 770 million RMB, a decrease of 10.5% year-on-year, with a net profit of 250 million RMB, down 26.3% year-on-year [1]. Business Analysis - The value-added telecommunications business generated 770 million RMB in revenue, down 11.0% year-on-year, influenced by the decline in A-share market trading volume [2]. - Software sales and maintenance revenue was 100 million RMB, down 7.2% year-on-year, affected by IT spending cuts from brokerage clients [2]. - Advertising and internet business revenue increased by 9.5% year-on-year to 350 million RMB, while fund distribution services revenue decreased by 4.9% to 170 million RMB [2]. Profit Forecast and Valuation - Revenue projections for 2024-2026 are 3.5 billion RMB, 3.64 billion RMB, and 3.88 billion RMB, with year-on-year growth rates of -1.8%, 3.9%, and 6.7% respectively [3]. - Net profit forecasts for the same period are 1.36 billion RMB, 1.4 billion RMB, and 1.54 billion RMB, with corresponding growth rates of -3.4%, 3.6%, and 9.6% [3].

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Views - The company's performance is under short-term pressure due to lower market trading activity, but its customer resource advantage remains significant [1][4] - Revenue and net profit declined in H1 2024, with revenue at 1.389 billion yuan (-5.51% YoY) and net profit at 363 million yuan (-20.99% YoY) [2][6] - The company's gross margin slightly decreased to 84.85% in H1 2024, down by 4.23 percentage points compared to 2023 [6] - R&D investment continues to increase, with R&D expenses up by 5.12% YoY in H1 2024, driven by investments in AI and computing power [6] - The company has a strong customer base, covering over 90% of domestic securities firms and serving 625 million registered users as of H1 2024 [6] Financial Performance - H1 2024 revenue: 1.389 billion yuan (-5.51% YoY) [2][6] - H1 2024 net profit: 363 million yuan (-20.99% YoY) [2][6] - H1 2024 ROE: 5.25%, down by 1.48 percentage points YoY [2][6] - Gross margin in H1 2024: 84.85%, down by 4.23 percentage points compared to 2023 [6] - R&D expenses in H1 2024: 5.12% increase YoY [6] Customer Resources - The company's products and services cover over 90% of domestic securities firms, as well as numerous mutual funds, private funds, banks, and insurance companies [6] - As of H1 2024, the company has 625 million registered users, with 14.39 million daily active users and 19.21 million weekly active users [6] - Advertising and internet promotion services revenue in H1 2024: 350 million yuan (+9.45% YoY) [6] Future Projections - Expected revenue for 2024-2026: 3.3/3.5/3.7 billion yuan, with a 3-year CAGR of 1.37% [6] - Expected net profit for 2024-2026: 1.3/1.4/1.5 billion yuan, with a 3-year CAGR of 1.90% [6] - The company's strong customer base is expected to provide significant future growth potential [6]

2024 年半年度非经营性资金占用及其他关联资金往来情况汇总表 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 年期初 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 期末占用资金 余额 占用形成 原因 占用性质 现大股东及其附属企业 无 非经营性占用 非经营性占用 小计 - - - - 前大股东及其附属企业 非经营性占用 非经营性占用 小计 - - - - 总计 - - - - 其它关联资金往来 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 年期初 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 期末往来资金 余额 往来形成 原因 往来性质 大股东及其附属企业 经营性往来 经营性往来 上市公司的子公司及其附属 企业 非经营性往来 非经营性往来 关联自然人 ...