深信服科技股份有限公司（以下简称"公司"）于 2024 年 4 月 24 日召开第 三届董事会第十五次会议及第三届监事会第十二次会议，审议通过了《关于部分 募集资金投资项目结项并将节余募集资金永久补充流动资金的议案》。公司 2020 年度向特定对象发行股票募集资金投资项目中的"网络信息安全服务与产品研发 基地项目"（以下简称"本募投项目"）已建设完毕并已达到预定可使用状态， 为合理配置资金、提高募集资金使用效率，经充分考虑公司的财务状况和经营情 况等因素，公司决定将本募投项目结项并将节余募集资金 4,979.22 万元（含利息 收入，实际金额以资金转出当日专户余额为准）永久性补充流动资金。根据《深 圳证券交易所创业板股票上市规则》（以下简称"《创业板股票上市规则》"） 《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》 （以下简称"《创业板上市公司规范运作》"）等相关规定，本募投项目结项属 于董事会审批权限范围内，无需提交股东大会审议。具体情况如下： 一、募集资金基本情况 (一)募集资金到位和管理情况 经中国证券监督管理委员会《关于同意深信服科技股份有限公司向特定对象 发行股票注册的批 ...

Financial Performance - The company's revenue for Q1 2024 was ¥1,035,080,040.95, a decrease of 14.66% compared to ¥1,212,825,722.82 in the same period last year[2] - The net loss attributable to shareholders was ¥488,764,945.10, representing an 18.64% increase in loss from ¥411,972,943.06 year-over-year[2] - Operating revenue for Q1 2024 was approximately CNY 1.035 billion, a decrease of 14.66% compared to CNY 1.213 billion in the same period last year[6] - Net profit attributable to shareholders was CNY 2,430,550,190.31, down from CNY 2,919,315,135.41, representing a decline of 16.71%[20] - The net profit for Q1 2024 was -488,936,931.17 CNY, compared to -411,972,943.06 CNY in Q1 2023, representing an increase in net loss of approximately 18.7%[22] - Total comprehensive income for Q1 2024 was -425,973,680.43 CNY, compared to -178,046,249.27 CNY in Q1 2023, indicating a significant decline in overall performance[22] Cash Flow - The net cash flow from operating activities was -¥1,154,245,182.65, a significant decline of 147.91% compared to -¥465,596,459.31 in the previous year[2] - Cash flow from operating activities showed a net outflow of -1,154,245,182.65 CNY, compared to -465,596,459.31 CNY in the previous year, reflecting a worsening cash position[23] - Investment cash flow turned positive at CNY 816.88 million, a significant increase of 1932.64% from negative CNY 44.57 million year-on-year[7] - Cash flow from investing activities generated a net inflow of 816,875,259.53 CNY, a significant improvement from -44,573,658.46 CNY in Q1 2023[23] - The net increase in cash and cash equivalents was CNY 244.61 million, a 134.51% improvement from negative CNY 708.86 million in the same period last year[7] Assets and Liabilities - Total assets at the end of the reporting period were ¥14,446,287,937.21, down 3.88% from ¥15,028,908,327.14 at the end of the previous year[2] - The company's total equity attributable to shareholders decreased by 5.82% to ¥8,292,697,153.63 from ¥8,805,254,642.95[2] - The company's total liabilities decreased to RMB 4,000,000,000.00 from RMB 4,500,000,000.00, indicating a reduction of approximately 11.1%[18] - Total liabilities decreased to CNY 6,151,432,300.28 from CNY 6,221,323,214.82, a decline of 1.12%[20] Operational Metrics - Operating costs decreased by 5.79% to CNY 432.89 million from CNY 459.52 million year-on-year[6] - Total operating costs for Q1 2024 were CNY 1,647,465,796.14, down from CNY 1,756,777,347.34, reflecting a reduction of 6.21%[21] - The company reported a decrease in sales expenses to CNY 636,405,816.58 from CNY 668,740,490.90, a reduction of 4.83%[21] - R&D expenses were CNY 531.68 million, down 8.17% from CNY 578.99 million in the previous year[6] - Research and development expenses amounted to CNY 531,679,629.74, a decrease of 8.14% from CNY 578,989,168.19 in the previous year[21] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 42,216[8] - Major shareholder He Zhaoxi holds 20.06% of the shares, amounting to 84,240,000 shares[9] Strategic Actions - The company continues to implement cost reduction and efficiency improvement measures amid uncertain external conditions[6] - The company completed the repurchase of 3,527,732 shares, accounting for 0.84% of the total share capital, with a total transaction amount of RMB 199,828,862.63[14] - The company provided guarantees totaling RMB 3.2 billion for its wholly-owned subsidiary, Shenzhen Deepin Technology Co., Ltd., and RMB 1 billion for another subsidiary, Shenzhen Xinyuan Technology Co., Ltd.[16][17] Inventory and Receivables - Accounts receivable decreased by 47.20% to ¥465,871,585.83, attributed to strong seasonal sales patterns[5] - Inventory increased by 40.25% to ¥536,957,249.62 as a strategic response to rising raw material prices[5] - The company's inventory increased significantly to RMB 536,957,249.62, up from RMB 382,845,328.97, representing an increase of about 40.3%[18] Debt and Financing - Short-term borrowings rose by 89.09% to ¥1,560,994,203.95, reflecting the company’s strategy to take advantage of lower loan interest rates[5] - Short-term borrowings increased significantly to CNY 1,560,994,203.95 from CNY 825,533,250.01, an increase of 89.00%[20] Audit Status - The company has not undergone an audit for the Q1 2024 report[24]

中信建投证券股份有限公司 关于深信服科技股份有限公司部分募集资金投资项目结项并将 节余募集资金永久补充流动资金的核查意见 中信建投证券股份有限公司（以下简称"中信建投证券"或"保荐人"）作为深 信服科技股份有限公司（以下简称"深信服"或"公司"）持续督导的保荐人，根据 《证券发行上市保荐业务管理办法》、《深圳证券交易所创业板股票上市规则》（以 下简称"《创业板股票上市规则》"）、《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》（以下简称"《创业板上市公司规范运作》"） 等有关法律法规规定，就深信服关于向特定对象发行股票部分募投项目结项并将 节余募集资金永久补充流动资金事项进行了审慎的核查，具体核查情况及核查意 见如下： 一、募集资金基本情况 （一）募集资金到位和管理情况 经中国证券监督管理委员会《关于同意深信服科技股份有限公司向特定对象 发行股票注册的批复》（证监许可〔2020〕2501 号）批复同意，公司向特定对象 发行股票数量 4,801,848 股，每股面值 1.00 元，发行价格为 185.01 元/股，募集 资金净额为人民币 881,242,223.75 元（已扣除不含税发 ...

中信建投证券股份有限公司 关于深信服科技股份有限公司 2023 年度持续督导跟踪报告 | 保荐机构名称：中信建投证券股份有限公司 | 被保荐公司简称：深信服 | | --- | --- | | 保荐代表人姓名：李林 | 联系电话：0755-23953869 | | 保荐代表人姓名：李波 | 联系电话：0755-23953869 | 一、保荐工作概述 | 项 目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的次数 | 无 | | 2.督导公司建立健全并有效执行规章制度的情 | | | 况 | | | （1）是否督导公司建立健全规章制度（包括但 不限于防止关联方占用公司资源的制度、募集 | | | | 是 | | 资金管理制度、内控制度、内部审计制度、关 | | | 联交易制度） | | | （2）公司是否有效执行相关规章制度 | 是 | | 3.募集资金监督情况 | | | （1）查询公司募集资金专户次数 | 2 次 | | （2）公司募集资金项目进展是否与信息披露文 | 是 | | ...

公 司 研 证券研究报告 究 ＃＃iinndduussttrryyIIdd＃＃ 横向通用软件 ＃investSuggestion＃ ＃ ＃dyC 深om 信pan 服y＃ （ 300454 ） investSug 增持 ( 维ges持tion ）Ch 3 Q0 404 营54 收 增 速改善， A＃ Iti 和tle＃ 国 际 化注入增长动能 ange＃ ＃ createTime1＃ 2024年 04月 23日 投资要点 公 ＃市场ma数rk据et Data＃ ＃ ⚫ sum 事ma 件ry＃ ： 2023年公司实现营业总收入 76.62亿元，同比增长 3.36%；实现归母 司 市场数据日期 2024-04-23 净利润 1.98 亿元，同比增长 1.89%；扣非净利润 1.10 亿元，同比增长 点 收盘价（元） 54.38 9.97%。2023 年 Q4 单季度营业总收入 28.54 亿元，同比增长 7.08%；归母 评 总股本（百万股） 419.85 净利润 7.43 亿元，同比下降 16.55%；扣非净利润 7.12 亿元，同比下降 报 流通股本（百万股） 276.26 20.93%。 净资产（百万元） ...

[Table_Main] 公司研究|信息技术|软件与服务 证券研究报告 深信服(300454)公司点评报告 2024年04月15日 [Table_Invest] [Tab业le_T绩itle实] 现平稳增长，海外业务表现亮眼 买入|维持 ——深信服(300454.SZ)2023年年度报告点评 [当Ta前b价le_：T argetPr5ic7e.6] 2元 [事Ta件ble：_S ummary] 公司于2024年4月9日收盘后发布《2023年年度报告》。 [基Ta本bl数e_据Ba se] 点评： 52周最高/最低价（元）： 136.70 / 51.90  营业收入和利润实现平稳增长，整体毛利率水平有所提升 A股流通股（百万股）： 276.26 2023 年，受多重因素影响，公司实现营业总收入 76.62 亿元，同比增长 A股总股本（百万股）： 419.85 3.36%；实现归母净利润1.98亿元，同比增长1.89%；实现扣非归母净利 流通市值（百万元）： 15918.09 润 1.10 亿元，同比增长 9.97%；公司整体毛利率为 65.13%，同比上升 总市值（百万元）： 24191.66 1.31%；三 ...

| 证券代码：300454 | 证券简称：深信服 | 公告编号：2024-033 | | --- | --- | --- | | 债券代码：123210 | 债券简称：信服转债 | | 深信服科技股份有限公司 关于回购股份实施结果暨股份变动的公告 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。 深信服科技股份有限公司（以下简称"公司"）于 2024 年 1 月 31 日召开第 三届董事会第十三次会议，审议通过了《关于回购公司股份方案的议案》，同意 公司使用自有资金以集中竞价交易方式回购公司部分社会公众股份（以下简称 "本次回购"），用于实施员工持股计划或股权激励计划。本次回购的资金总额 不低于人民币 1 亿元且不超过人民币 2 亿元（均含本数），回购价格不超过人民 币 100 元/股（含本数），具体回购股份的数量及占公司总股本的比例以回购期 届满或回购完毕时公司实际回购的股份数量和占公司届时总股本的比例为准。本 次回购实施期限为自公司董事会审议通过本次回购股份方案之日起不超过 12 个 月。具体内容详见公司在指定信息披露媒体巨潮资讯网（www.cninfo.c ...

计算机 公 2024年04月10日 司 报 深信服(300454.SZ) 告 毛利率同比提升，AI First战略有望注入中长期增长动能 推荐 ( 维持 ) 事项： 公司发布2023年年报，2023年实现营业收入76.62亿元，同比增长3.36%，实 股价:57.17元 现归母净利润1.98亿元，同比增长1.89%。2023年利润分配预案为：拟每10股 公 主要数据 派现金0.5元（含税）。 行业 计算机 司 平安观点： ...

Investment Rating - The report maintains a "Recommended" rating for the company [2]. Core Insights - The company achieved a revenue of 7.662 billion yuan in 2023, representing a year-on-year growth of 3.36%, and a net profit attributable to shareholders of 198 million yuan, an increase of 1.89% year-on-year [1][2]. - The company's revenue resilience is highlighted against a backdrop of weak macroeconomic recovery, with significant growth in enterprise customer demand, particularly in sectors like energy and transportation, leading to a 19.73% increase in enterprise customer revenue [1]. - The overseas market also showed strong performance with a revenue growth of 47.98% [1]. - The company's gross margin improved to 65.13%, up 1.31 percentage points year-on-year, driven by its cloud and service-oriented strategy [1]. - The report emphasizes the ongoing optimization of various business lines, including the introduction of AI-driven products like the self-developed security GPT, which aims to establish a new paradigm in security [1]. Summary by Sections Financial Performance - In 2023, the company reported total revenue of 7.662 billion yuan and a net profit of 198 million yuan, with respective growth rates of 3.36% and 1.89% [1][4]. - The company expects revenues to reach 8.325 billion yuan in 2024, with net profits projected at 305 million yuan, indicating a growth rate of 8.65% for revenue and 54.21% for net profit [4][5]. Business Segments - The network security business generated revenue of 3.892 billion yuan, accounting for 50.79% of total revenue, while the cloud computing and IT infrastructure business saw revenue of 3.090 billion yuan, representing 40.33% of total revenue [1]. - The basic network and IoT business achieved revenue of 680 million yuan, making up 8.88% of total revenue [1]. Strategic Initiatives - The company is implementing an "AI First" strategy, integrating AI capabilities across its product offerings, and plans to expand its international market presence [1]. - The report anticipates that AI and overseas business will provide new growth opportunities for the company [1].

Investment Rating - The report assigns a rating of "Hold" for the company, indicating that the stock price is expected to fluctuate within ±5% of the benchmark [8]. Core Views - The company's revenue in 2023 was 7.662 billion, a year-on-year increase of 3.36%, with a net profit attributable to shareholders of 198 million, reflecting a growth of 1.89% [1][3]. - The overall revenue is under pressure, but the gross margin for core products has improved, with an overall gross margin of 65.13%, up by 1.31 percentage points from the previous year [1][3]. - The company is experiencing cautious spending from downstream clients, particularly in the government and financial sectors, which has led to revenue pressure [1][3]. Financial Performance Summary - In 2023, the company's network security business generated revenue of 3.892 billion, a slight decline of 0.14%, while the cloud computing and IT infrastructure business saw revenue growth of 8.07%, reaching 3.090 billion [1][3]. - The company reported a net operating cash flow of 9.47 billion, a significant increase of 26.97% year-on-year, indicating strong cash generation capabilities [1]. - The company has maintained a high R&D investment, exceeding 20% for eight consecutive years, focusing on AI technology integration across its products [1][2]. Earnings Forecast - The earnings per share (EPS) for 2024-2026 are projected to be 0.69, 0.94, and 1.25 respectively, with corresponding price-to-earnings (P/E) ratios of 82.27, 61.11, and 45.59 [2][3].