Financial Performance - Revenue for the reporting period increased by 25.93% to 191,994,746.17 yuan compared to the same period last year[13] - Net profit attributable to shareholders of the listed company surged by 142.17% to 13,391,015.73 yuan, reversing a loss of 31,753,880.86 yuan in the same period last year[13] - Net cash flow from operating activities improved by 44.33% to -121,063,076.51 yuan, compared to -217,461,084.85 yuan in the same period last year[13] - Basic earnings per share increased by 141.83% to 0.0663 yuan per share, compared to -0.1585 yuan per share in the same period last year[13] - Total assets decreased by 7.83% to 1,382,896,308.00 yuan compared to the end of the previous year[13] - Revenue for the first half of 2024 reached 192 million yuan, a year-on-year increase of 25.93%, driven by new customer acquisition and expanded business areas[52] - Revenue from the oil and petrochemical industry grew by 39.09% to 93.99 million yuan, accounting for 48.95% of total revenue[52] - Revenue from the coal and power industry surged by 104.62% to 16.52 million yuan, representing 8.60% of total revenue[52] - Revenue from the transportation and equipment manufacturing industries increased by 91.54% to 17.02 million yuan, making up 8.86% of total revenue[52] - Operating costs rose by 35.50% to 118 million yuan, with employee compensation accounting for 75.51% of the total costs[52] - The company's gross margin decreased by 4.34 percentage points to 38.55% due to increased competition and lower project profitability[52] - Total three expenses (sales, management, R&D) amounted to 80.34 million yuan, a decrease of 36.70% YoY[53] - Sales expenses decreased by 63.33% YoY to 13.86 million yuan, but increased by 16.13% after excluding the impact of a previous project[53] - Management expenses increased by 23.30% YoY to 41.89 million yuan due to company expansion and increased staff[53] - R&D expenses decreased by 55.41% YoY to 24.58 million yuan, but total R&D investment remained flat at 51.66 million yuan when including capitalized R&D[53] - Revenue increased by 25.93% YoY to 191.99 million yuan, driven by new customers and increased custom software development[53] - Operating costs rose by 35.50% YoY to 117.98 million yuan, in line with revenue growth[53] - Group finance segment revenue grew by 45.41% YoY to 64.92 million yuan, with a gross margin of 41.86%[55] - Employee compensation accounted for 75.51% of operating costs, increasing by 33.93% YoY to 89.09 million yuan[57] - Purchased software and hardware costs surged by 124.59% YoY to 7.09 million yuan, reflecting increased project demand[57] - Investment income was -481,239.62 yuan, accounting for -5.85% of total profit, mainly due to cash management income and equity method long-term equity investment income[59] - Fair value change income was 4,106,314.16 yuan, accounting for 49.89% of total profit[59] - Credit impairment loss was 7,785,417.78 yuan, accounting for 94.59% of total profit, mainly due to the reversal of previously recognized credit impairment losses[60] - Other income was 3,673,821.14 yuan, accounting for 44.64% of total profit, mainly from software product VAT refunds and government subsidies[60] - Monetary funds decreased by 7.45% to 227,713,263.86 yuan, accounting for 16.47% of total assets, mainly due to increased expenditures and financial product purchases[61] - Inventory increased by 8.55% to 187,807,003.46 yuan, accounting for 13.58% of total assets, due to business expansion and increased costs in large group customer projects[61] - Total revenue for the first half of 2024 increased to 191,994,746.17 RMB, up 25.9% from 152,465,317.26 RMB in the same period of 2023[148] - Operating profit for the first half of 2024 was 8,144,379.25 RMB, a significant improvement from a loss of 51,649,476.86 RMB in the first half of 2023[149] - Net profit attributable to the parent company's shareholders for the first half of 2024 was 13,391,015.73 RMB, compared to a loss of 31,753,880.86 RMB in the same period of 2023[149] - Basic earnings per share for the first half of 2024 were 0.0663 RMB, compared to a loss of 0.1585 RMB per share in the first half of 2023[150] - Total assets decreased to 1,347,752,459.90 RMB at the end of the first half of 2024, down from 1,453,538,490.58 RMB at the beginning of the period[148] - R&D expenses decreased to 24,582,200.56 RMB in the first half of 2024, down 55.4% from 55,128,727.28 RMB in the same period of 2023[148] - Sales expenses decreased to 13,863,601.59 RMB in the first half of 2024, down 63.3% from 37,806,960.20 RMB in the same period of 2023[148] - Comprehensive income for the first half of 2024 was 7,918,717.45 RMB, compared to a loss of 46,774,519.41 RMB in the same period of 2023[149] - Parent company's revenue for the first half of 2024 was 173,578,998.98 RMB, up 33.4% from 130,073,428.71 RMB in the same period of 2023[150] - Parent company's net profit for the first half of 2024 was 26,726,979.63 RMB, compared to a loss of 7,277,445.35 RMB in the same period of 2023[150] - Comprehensive income for the first half of 2024 was RMB 26,726,979.63, compared to a loss of RMB -7,277,445.35 in the same period of 2023[151] - Cash received from sales of goods and services in the first half of 2024 was RMB 239,164,071.56, up from RMB 175,413,629.80 in the same period of 2023[152] - Cash received from tax refunds in the first half of 2024 was RMB 3,009,032.25, compared to RMB 910,614.24 in the same period of 2023[152] - Total cash inflows from operating activities in the first half of 2024 were RMB 248,723,676.73, up from RMB 181,327,056.51 in the same period of 2023[152] - Cash paid to employees in the first half of 2024 was RMB 252,523,930.26, down from RMB 277,393,244.52 in the same period of 2023[153] - Net cash flow from operating activities in the first half of 2024 was RMB -121,063,076.51, an improvement from RMB -217,461,084.85 in the same period of 2023[153] - Cash received from investment returns in the first half of 2024 was RMB 5,840,993.79, up from RMB 3,278,824.78 in the same period of 2023[153] - Net cash flow from investing activities in the first half of 2024 was RMB 46,130,708.67, compared to RMB 51,967,593.68 in the same period of 2023[153] - Net cash flow from financing activities in the first half of 2024 was RMB -54,480,375.00, compared to RMB 30,219,320.24 in the same period of 2023[153] - The ending balance of cash and cash equivalents as of the first half of 2024 was RMB 219,313,545.73, slightly up from RMB 213,241,388.34 in the same period of 2023[153] - Operating cash flow for the first half of 2024 was -105.51 million yuan, an improvement from -195.93 million yuan in the same period last year[155] - Sales revenue from goods and services in the first half of 2024 reached 207.53 million yuan, a 42.8% increase compared to 145.29 million yuan in 2023[155] - Investment cash flow for the first half of 2024 was 43.97 million yuan, down from 63.56 million yuan in the same period last year[155] - Total cash and cash equivalents at the end of the first half of 2024 stood at 187.77 million yuan, compared to 169.62 million yuan at the end of the same period in 2023[155] - The company's total owner's equity decreased by 28.69 million yuan in the first half of 2024, primarily due to a 20.25 million yuan profit distribution[157][158] - Comprehensive income for the first half of 2024 was 13.33 million yuan, with minority shareholders' share being -5.41 million yuan[157] - Capital expenditure on fixed assets, intangible assets, and other long-term assets increased to 34.05 million yuan in the first half of 2024, up from 9.56 million yuan in the same period last year[155] - The company's total investment cash inflow decreased to 480.85 million yuan in the first half of 2024, compared to 583.06 million yuan in the same period last year[155] - Cash payments for employee compensation decreased to 173.72 million yuan in the first half of 2024, down from 191.44 million yuan in the same period last year[155] - The company's capital reserve increased by 14.00 million yuan in the first half of 2024, primarily due to share-based payments[157][158] - Total owner's equity at the end of the period reached 1,220,751,680.20 yuan, an increase from the previous year's 1,110,428,451.10 yuan[159] - Comprehensive income for the period was -31,450,177.88 yuan, reflecting a decrease in net income[159] - Owner's equity increased by 59,320,032.00 yuan due to capital contributions and other factors[159] - Profit distribution for the period amounted to -43,132,414.20 yuan, indicating a significant allocation of profits[160] - Capital reserve increased by 14,000,408.82 yuan, driven by owner contributions and other adjustments[163] - Net profit for the period was 26,726,979.63 yuan, contributing positively to owner's equity[163] - Total owner's equity adjustments for the period resulted in a net decrease of 9,882,105.81 yuan[163] - Stock-based compensation contributed 14,003,444.68 yuan to owner's equity[163] - Profit distribution adjustments led to a reduction of 20,252,501.07 yuan in owner's equity[163] - Total owner's equity at the end of the period was RMB 1,172,175,774.28[164] - The company allocated RMB -20,252,501.07 to owners (or shareholders) during the period[164] - The company's total owner's equity at the beginning of the period was RMB 1,049,490,327.48[165] - The company's total owner's equity increased by RMB 38,421,906.92 during the period[165] - The company's comprehensive income for the period was RMB -7,277,445.35[165] - The company's total owner's equity at the end of the period was RMB 1,087,912,234.40[166] - The company's registered capital increased to RMB 143,774,714.00 after the issuance of shares to specific objects[167] - The company distributed a cash dividend of 3 yuan per 10 shares, totaling 43,132,414.20 yuan, and increased its share capital by 4 shares per 10 shares through capital reserve, resulting in a total share capital increase of 57,509,885 shares, bringing the registered capital to 201,284,599.00 yuan[168] - The company's total issued share capital as of June 30, 2024, is 202,525,749 shares, with a registered capital of 202,525,749.00 yuan[168] - The company's main business is providing management informatization solutions and IT comprehensive services to large group enterprises, operating in the software and information technology services industry[168] - The company's consolidated financial statements include 12 subsidiaries as of June 30, 2024[169] - The company's financial statements are prepared in accordance with the Chinese Accounting Standards and the relevant regulations of the China Securities Regulatory Commission[170] - The company's accounting period follows the calendar year, from January 1 to December 31, with the interim period being January to June 2024[174] - The company's operating cycle is 12 months[175] - The company and its domestic subsidiaries use RMB as their functional currency, while overseas subsidiaries use HKD or JPY based on their primary economic environment[176] - The company's criteria for significant items include: significant bad debt provisions for receivables exceeding 0.5% of total assets and 5 million yuan, significant capitalized R&D projects exceeding 0.5% of total assets and 5 million yuan, and significant cash flows from investment activities exceeding 10% of total assets[178] - The company's financial statements are prepared on a going concern basis[171] - The company consolidates financial statements based on its own and subsidiaries' financial statements, ensuring consistent accounting policies and periods, and offsetting intercompany transactions[185] - Subsidiaries acquired under common control are included in the consolidated financial statements from the date they came under common control, while those acquired under non-common control are included from the acquisition date[185] - Minority interests in subsidiaries are separately presented in the consolidated balance sheet under equity, and minority shareholders' share of net profit or loss is shown under "minority interest" in the consolidated income statement[185] - The company adjusts capital reserves in the consolidated balance sheet for differences arising from the purchase of minority interests or partial disposal of subsidiary equity, with any shortfall adjusted against retained earnings[186] - When control over a subsidiary is lost, the remaining equity is remeasured at fair value, and the difference between the consideration received and the share of net assets is recognized as investment income[187] - The company classifies joint arrangements as either joint operations or joint ventures, with joint operations recognizing assets, liabilities, revenues, and expenses based on its share[188][189] - Joint ventures are accounted for using the equity method under long-term equity investment accounting standards[190] - Cash and cash equivalents include cash on hand and deposits that can be readily converted into known amounts of cash with minimal risk of value fluctuation[191] - Foreign currency transactions are translated at the spot exchange rate on the transaction date, with exchange differences recognized in profit or loss for monetary items and in other comprehensive income for non-monetary items measured at fair value[192] - Financial assets are classified into three categories based on business models and contractual cash flow characteristics: amortized cost, fair value through other comprehensive income, and fair value through profit or loss[197] Subsidiaries and Business Operations - The company has multiple subsidiaries including PANSOFT (HONG KONG) LIMITED and PANSOFT (JAPAN) CO., LTD[5] - The company's subsidiaries are involved in various sectors such as enterprise resource planning (ERP), enterprise performance management (EPM), and enterprise asset management (EAM)[5] - The company has branches in multiple locations including Xinjiang, Shenzhen, Chengdu, and Shanghai[5] - The company's subsidiaries have undergone name changes, such as PANSOFT DIGITAL TECHNOLOGY (JINAN) CO., LTD., formerly known as PANSOFT SERVICE OUTSOURCING (JINAN) CO., LTD[5] - The company's subsidiaries include PANSOFT INTELLIGENT DIGITAL CONSTRUCTION TECHNOLOGY (BEIJING) CO., LTD., a holding subsidiary[5] - The company's subsidiaries include HEFEI PANSOFT LANGJI SOFTWARE CO., LTD., formerly known as HEFEI LANGJI SOFTWARE TECHNOLOGY CO., LTD[5] - The company's subsidiaries include BEIJING SHIGUIGU TECHNOLOGY CO., LTD., formerly known as BEIJING SHIGUIGU TECHNOLOGY CO., LTD[5] - The company's subsidiaries include BEIJING SIYUAN TIMES TECHNOLOGY CO., LTD., a holding subsidiary[5] - The company's main business is providing management informatization solutions and IT services to large group enterprises, leveraging cloud computing, big data, and AI technologies[19] - The company operates through a combination of industry-specific and regional business units, with R&D departments focusing on platform, product, and project development[22] - The company employs a "customer + service" model for large group clients, offering customized software and long-term service strategies, and a "product + market" model for broader market expansion[23] - In H1 2024, the company focused on expanding services for strategic clients, strengthening product R&D, and integrating intelligent technologies to enhance product competitiveness[24] - Strategic customer business has steadily developed in the first half of 2024, with key clients including China National Petroleum Corporation, China Petrochemical Corporation, China National Offshore Oil Corporation, and others[25] - The company has expanded its service scope and capabilities in digital production areas such as equipment management, smart safety, smart oil fields, and intelligent mining[26] - New strategic customers were successfully developed, including a large energy group's financial shared service construction project[27] - The company has made progress in treasury business, with new projects such as the Southern Power Grid's overseas treasury center construction project[28] - Significant progress was made in the domestic substitution of EAM and EPM systems for a large energy central enterprise, with major construction tasks expected to be completed within the year[29] - The company has established a domestic equipment management product

多部门联合印发《信息化标准建设行动计划（2024—2027年）》，强调2027年的关键时间节点，分析 师看好2024年有望成为信创采购高峰期，公司聚焦能源行业、金融保险行业，近两年积极推进大型集 团企业信创EAM、EPM、ERP的试点应用项目，为下一步全面市场开拓打好产品基础，上半年业绩较去 年同期实现扭亏为盈。 普联软件（300996）精要： ①5月，中央网信办等多部门联合印发《信息化标准建设行动计划（2024—2027年）》，强调2027年 的关键时间节点，中邮证券孙业亮看好2024年有望成为信创采购高峰期； ②近两年，公司积极推进大型集团企业信创EAM、EPM、ERP的试点应用项目，为下一步全面市场开拓 打好产品基础，受益信创产业加速，上半年业绩较去年同期实现扭亏为盈； ③孙业亮看好随着公司新客户、新领域业务拓展的陆续推进，未来有望逐步优化运营模式、提高经营业 绩，预计2024-26年的EPS为0.83/1.04/1.31元，同比增长171.28%/25.23%/25.2%，对应的PE为 18.29/14.61/11.66倍； ④风险因素：信创政策推进低于预期、行业竞争加剧;。 多部门强调2027年的关 ...

2024 年 7 月 17 日 总市值/流通市值（亿元）31 / 26 市盈率 49.24 股票投资评级 个股表现 最新收盘价（元） 15.23 研究所 H1 业绩扭亏为盈，央企信创打开成长空间 ⚫ 信创产业加速，公司积极推进 EAM/EPM/ERP 试点应用 ⚫ 实控人及一致行动人增持，股份回购增强信心 万元（含），回购价格不超过人民币 23.00 元/股（含）。截至 2024 年 5 月 6 日，公司通过回购专用证券账户以集中竞价交易方式回购公 司股份 1,900,000 股，占公司目前总股本的 0.9382%，最高成交价为 16.55 元 / 股 ， 最 低 成 交 价 为 15.35 元 / 股 ， 成 交 总 金 额 为 30,356,993.19 元（不含交易费用），回购方案已实施完毕。 随着公司新客户、新领域业务拓展的陆续推进，未来有望逐步优 化运营模式、提高经营业绩。预计公司 2024-2026 年的 EPS 分别为 0.83、1.04、1.31 元，当前股价对应的 PE 分别为 18.29 倍、14.61 倍、11.66 倍，维持"买入"评级。 | --- | --- | --- | --- ...

Investment Rating - The report gives a "Buy" rating to the company with a target price of 20.66 RMB, corresponding to a 27x PE for 2024 [126][124] Core Views - The company is a leading provider of enterprise management information solutions for large group companies in China, benefiting from tax reform and treasury system construction policies [126] - The company's traditional advantageous businesses in strategic clients such as CNPC, Sinopec, CNOOC, and China Construction are developing steadily, and new strategic clients are rapidly expanding [111] - The company is actively expanding into group control, data assets, and Xinchuang (domestic substitution) business areas, with future revenue growth potentially exceeding expectations [111] - The company's global treasury management system has mature technology, high efficiency, and high security, and is expected to achieve rapid revenue growth under policy support [127] Valuation Summary - Using PE valuation, the company's reasonable market value is estimated at 4.185 billion RMB, corresponding to a price of 20.66 RMB [10] - Using PS valuation, the company's reasonable market value is estimated at 4.191 billion RMB, corresponding to a price of 20.69 RMB [11] - The final target price is set at 20.66 RMB based on the lower of the two valuation methods [117] Business Performance and Outlook - The company's revenue is expected to grow from 911 million RMB in 2024 to 1.317 billion RMB in 2026, with a CAGR of 19.45% [128] - Net profit attributable to the parent company is expected to grow from 155 million RMB in 2024 to 231 million RMB in 2026 [128] - The company's revenue structure is improving, with high growth in the financial and coal power industries [71] - The company's gross margin is expected to stabilize at around 38% [8] Industry and Policy Analysis - The company is actively responding to the domestic substitution wave in the Xinchuang industry, with multiple software products passing Huawei Kunpeng compatibility certification [12] - The company's Xinchuang ERP financial product system includes accounting and reporting, treasury management, tax management, and financial sharing subsystems [119] - The company's treasury management system has been successfully implemented in 21 central enterprises and supports more than 20 foreign banks and Swift direct connections [17] - The company's cloud platform has completed compatibility certification with mainstream Xinchuang products and has obtained national information security level protection level 3 certification [14] Competitive Advantages - The company has a strong competitive advantage in group financial control, group fund management, intelligent shared services, and data application services [133] - The company has a stable core team and rich industry experience, with executives holding a combined 21.47% stake [104] - The company has established long-term service relationships with many central enterprises such as CNPC, Sinopec, CNOOC, and China Construction [56] - The company has a complete R&D architecture and a strong R&D team, with over 10 invention patents and more than 300 software copyrights [52] Business Segments - In the oil and petrochemical industry, the company is expected to achieve revenue growth of 7%/10%/10% from 2024 to 2026 [121] - In the financial industry, the company is expected to achieve revenue growth of 50%/40%/40% from 2024 to 2026 [8] - In the coal and power industry, the company is expected to achieve revenue growth of 100%/50%/30% from 2024 to 2026 [8] - In the construction and real estate industry, the company is expected to achieve revenue growth of 5%/10%/10% from 2024 to 2026 [8]

证券代码：300996 证券简称：普联软件 公告编号：2024-059 普联软件股份有限公司 2024 年半年度业绩预告 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、误导性陈述或者重大遗漏。 一、 本期业绩预计情况 1、业绩预告期间：2024 年 1 月 1 日至 2024 年 6 月 30 日 2、业绩预告情况： 扭亏为盈 同向上升 同向下降 | --- | --- | --- | --- | |----------------|-------------------------------------------|--------|------------------| | 项 目 | 本报告期 | | 上年同期 | | 归属于上市公司 | 盈利： 1,200 万元 –1,400 万元 | 亏损： | 3,175.39 万元 | | 股东的净利润 | 比上年同期上升： 138%-144% | | | | 扣除非经常性损 | 盈利： 700 万元 –900 万元 | | | | 益后的净利润 | 比上年同期上升： 119%-124% | 亏损： | 3,692.85 万元 | ...

普联软件(300996)公司点评报告 2024 年 04 月 22 日 ——普联软件(300996.SZ)2023 年年报及 2024 年一季报点评 2023 年营收实现稳健增长，2024 年第一季度营收增长 43.10% [Table_Invest]买入|维持 [Table_Summary] 事件： 公司于 2024 年 4 月 12 日收盘后发布《2023 年年度报告》、《2024 年第一 季度报告》。 点评： | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------------------------------------|---------|---------|---------|---------|---------|---------------------------------|--------|--------|--------|---------|---------| | [Table_FinanceDeta ...

证券研究报告 公司快报 2024 年 04 月 18 日 普联软件(300996.SZ) 事件概述： 聚焦能源类战略客户，持续做强优势业务 一季报显著改善，全年业绩复苏值得期待 本报告版权属于国投证券股份有限公司，各项声明请参见报告尾页。 1 | --- | --- | |-----------------|------------| | | | | 总市值(百万元 | ) 2,877.89 | | 流通市值(百万元 | ) 1,746.78 | | 总股本(百万股 | ) 202.53 | | 流通股本(百万股 | ) 122.93 | | --- | |-------| | | | | | | | | | | SAC 执业证书编号：S1450522040001 杨楠 分析师 SAC 执业证书编号：S1450522060001 | --- | --- | |----------------------------------------|------------| | 相关报告 \nQ3 收入高增或夯实全年业 | 2023-10-31 | | 绩，司库建设成绩显著 | | | 上半年业绩短暂承压，聚焦 | ...

| --- | --- | --- | --- | --- | |----------------------------------------------------|-------|------------------|------------|-------| | 项目/年度 | 2023A | 2024E | 2025E | 2026E | | 营业收入（百万元） | 749 | 939 | 1,149 | 1,357 | | 增长率（%） | 7.8 | 25.3 | 22.4 | 18.0 | | 归属母公司股东净利润（百万元） | 62 | 144 | 177 | 209 | | 增长率（%） | -59.9 | 131.2 | 23.0 | 18.3 | | 每股收益（元） | 0.31 | 0.71 | 0.87 | 1.03 | | PE | 48 | 21 | 17 | 14 | | PB | 2.5 | 2.2 | 2.0 | 1.9 | | 资料来源： Wind ，民生证券研究院预测；（注：股价为 | 2024 | 年 4 月 12 | 日收盘价） | | 相关研究 普联软件(30 ...

普联软件股份有限公司 2024 年第一季度报告 证券代码：300996 证券简称：普联软件 公告编号：2024-027 普联软件股份有限公司 2024 年第一季度报告 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。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）声明：保证季度报告中财务信息的真实、准确、 完整。 3.第一季度报告是否经过审计 □是 否 1 普联软件股份有限公司 2024 年第一季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减（%） | | --- | --- | --- | --- | | 营业收入（元） | 77,522,697.83 | 54,175,632.36 | 43.10% | | 归属于上市公司股东的净利 | 3,270,817.4 ...

Financial Performance - Net profit attributable to shareholders decreased by 59.93% to RMB 62.16 million in 2023[5] - Revenue growth slowed due to delayed project bidding and acceptance, and underperformance in business expansion with major clients in the construction industry[5] - Revenue for 2023 reached RMB 749.253 million, a 7.80% increase compared to the adjusted revenue of RMB 695.035 million in 2022[28] - Net profit attributable to shareholders in 2023 was RMB 62.160 million, a significant decrease of 59.93% compared to the adjusted RMB 155.148 million in 2022[28] - Operating cash flow for 2023 was negative RMB 59.144 million, a 220.82% decrease from the positive RMB 48.952 million in 2022[28] - Total assets at the end of 2023 were RMB 1.500 billion, a 10.20% increase from the adjusted RMB 1.362 billion at the end of 2022[28] - Net profit attributable to shareholders in Q4 2023 was RMB 93.027 million, a significant recovery from the losses in the first three quarters[30] - Government subsidies received in 2023 amounted to RMB 1.925 million, a decrease from RMB 6.970 million in 2022[33] - Investment income from entrusted assets in 2023 was RMB 9.789 million, more than double the RMB 4.250 million in 2022[34] - The company's weighted average return on equity (ROE) for 2023 was 5.39%, a decrease of 10.29 percentage points from the adjusted 15.68% in 2022[28] - The company's basic earnings per share (EPS) for 2023 was RMB 0.3093, a 60.58% decrease from the adjusted RMB 0.7846 in 2022[28] - The company's total equity attributable to shareholders at the end of 2023 was RMB 1.204 billion, an 11.75% increase from the adjusted RMB 1.077 billion at the end of 2022[28] - Total revenue for the reporting period was 749,253,789.29 yuan, a year-on-year increase of 7.80%[75] - Revenue from the oil and petrochemical industry decreased by 10.80% to 384,563,878.85 yuan, accounting for 51.33% of total revenue[75] - Revenue from the financial industry increased by 31.44% to 81,094,123.77 yuan, accounting for 10.82% of total revenue[75] - Revenue from the coal and power industry surged by 159.23% to 68,801,099.62 yuan, accounting for 9.18% of total revenue[75] - Operating costs increased by 26.82% to 461,324,764.63 yuan, leading to a gross margin decline of 9.23 percentage points to 38.43%[76] - Net profit attributable to the parent company decreased by 59.93% to 62,160,202.27 yuan[76] - Revenue from the group control segment increased by 10.55% to 661,854,265.64 yuan, accounting for 88.33% of total revenue[80] - Revenue from the digital construction segment decreased by 70.65% to 3,943,396.23 yuan[80] - Revenue from the hardware products segment increased by 74.15% to 10,920,061.34 yuan[80] - Revenue in the fourth quarter accounted for a significant portion of annual revenue, with 471,710,069.29 yuan, reflecting seasonal business patterns[83] - Revenue from the financial industry increased by 31.44% year-on-year to 81,094,123.77 yuan, while the cost increased by 86.52%, leading to a 15.36% decrease in gross margin[85] - The company's total operating costs increased by 26.82% year-on-year to 461,324,764.63 yuan, with employee compensation accounting for 73.77% of the total costs[87] - Employee compensation costs in the financial industry surged by 73.58% year-on-year to 35,084,574.78 yuan[87] - The company's top five customers accounted for 55.40% of total annual sales, with the largest customer contributing 25.25% of total sales[91] - Sales expenses increased significantly by 277.61% year-on-year to 67,298,824.74 yuan, primarily due to the expansion of subsidiaries and increased investment in sales team development[94] - R&D expenses decreased by 6.77% year-on-year to 90,406,862.11 yuan, partly due to increased capitalization of R&D expenditures[94] - Revenue from the Northwest region grew by 53.27% year-on-year to 81,074,900.01 yuan, with a 6.53% increase in gross margin[85] - The company's top five suppliers accounted for 38.00% of total annual procurement, with the largest supplier contributing 21.81%[91] - Revenue from group control products increased by 10.55% year-on-year to 661,854,265.64 yuan, but the gross margin decreased by 8.65% due to a 28.78% increase in costs[85] - R&D investment in 2023 reached RMB 121.81 million, accounting for 16.26% of total revenue, a significant increase from 13.95% in 2022[99] - Capitalized R&D expenditure in 2023 was RMB 31.41 million, representing 25.78% of total R&D investment, a substantial rise from 0% in 2022[99] - The number of R&D personnel increased by 9.86% to 1,471 in 2023, with R&D staff accounting for 55.49% of total employees[99] - Operating cash inflow increased by 2.69% to RMB 659,213,912.28 in 2023, driven by revenue growth and improved sales collections[106] - Operating cash outflow rose by 21.14% to RMB 718,358,398.54 due to business and personnel expansion, including employee salaries and project procurement[106] - Net cash flow from operating activities decreased by 220.82% to RMB -59,144,486.26, primarily due to seasonal revenue patterns and delayed customer payments[106][107] - Net cash flow from financing activities surged by 1,162.13% to RMB 62,111,123.24, mainly due to proceeds from new share issuance[106] - Accounts receivable increased by 3.39% to 31.08% of total assets, reflecting revenue growth[113] - R&D expenses for domestic ERP core products and technology platform optimization were capitalized starting August 2023, with expected completion by December 2024[108] - Fair value changes of RMB 8,879,983.71 were recorded, accounting for 14.43% of total profit, mainly from cash management and contingent considerations[110] - Credit impairment losses amounted to RMB -18,347,043.53, representing 29.81% of total profit[110] - Other income, including VAT refunds and government subsidies, contributed RMB 7,470,758.70, accounting for 12.14% of total profit[110] - Cash and cash equivalents increased by 102.58% to RMB 489,342.23, driven by improved cash management and financing activities[106] - The fair value change of financial assets during the period was RMB 8,879,983.71, with a total purchase amount of RMB 1,074,200,000.00 and a total sale amount of RMB 1,112,714,874.67, resulting in an ending balance of RMB 307,009,566.11[116] - The company's restricted monetary funds as of December 31, 2023, amounted to RMB 9,874,170.99, including RMB 858,374.10 for guarantee deposits, RMB 4,267,888.89 for bank deposit interest receivable, and RMB 4,747,908.00 frozen by court order (unfrozen on January 5, 2024)[117] - The total investment amount for the reporting period was RMB 122,036,949.35, an increase of 11.14% compared to the same period last year[119] - The company completed the acquisition of Beijing Shiguigu Technology Co., Ltd. in July 2022, with a contingent consideration of RMB 2.4 million, and paid the remaining transfer price in May 2023 as per the agreement[116] - The total funds raised from the initial public offering in 2021 were RMB 459,901,000.00, with a net amount of RMB 398,358,190.59 after deducting issuance costs[125] - The company raised RMB 85,674,257.51 through a private placement in 2023, with a net amount of RMB 81,929,153.60 after deducting issuance costs[126] - As of December 31, 2023, the company had used a total of RMB 416,513,381.88 in raised funds, with an unused balance of RMB 71,949,760.67[126] - The company did not engage in any significant equity investments, non-equity investments, or securities investments during the reporting period[120][122] - The company's financial liabilities decreased by RMB 2,400,000.00 during the period, resulting in an ending balance of RMB 0.00[116] - The company's total raised funds from both the IPO and private placement amounted to RMB 545,575,300.00, with a net amount of RMB 480,287,300.00 after deducting issuance costs[124] - The total investment in committed projects is RMB 3.806582 billion, with a cumulative investment of RMB 3.235134 billion, achieving an overall investment progress of 85.01%[128] - The investment progress of the intelligent group control series product R&D project is 101.72%, with a cumulative investment of RMB 789.877 million[128] - The investment progress of the R&D center and technology development platform construction project is 101.01%, with a cumulative investment of RMB 666.344 million[128] - The investment progress of the marketing and service network construction project is 103.18%, with a cumulative investment of RMB 633.147 million[128] - The investment progress of the domestic ERP group financial core product R&D project is 30.30%, with a cumulative investment of RMB 134.45 million[128] - The investment progress of the technology platform optimization and enhancement construction project is 29.64%, with a cumulative investment of RMB 111.316 million[128] - The company's total raised funds amount to RMB 398.35819059 million, with over-raised funds of RMB 103.37429059 million[129] - The company has permanently supplemented working capital with RMB 31 million from over-raised funds on multiple occasions to meet development needs[129] - The company pre-invested RMB 62.06609918 million in self-raised funds before the initial public offering to ensure the smooth progress of the fundraising projects[129] - The company pre-invested RMB 1.06407213 million in self-raised funds before the 2022 targeted stock issuance to ensure the smooth progress of the fundraising projects[129] - The company plans to use idle raised funds not exceeding RMB 100 million and own funds not exceeding RMB 1.2 billion for cash management, with the funds being rolled over within a 12-month period starting from the approval date of the 2024 first extraordinary general meeting[130] - As of December 31, 2023, the balance of cash management products purchased with raised funds that have not yet matured is RMB 68,973,594.32[130] Business Strategy and Market Expansion - Increased investment in project delivery capabilities, product competitiveness, and market expansion led to higher cost expenses[5] - The company plans to distribute a cash dividend of RMB 1.00 per 10 shares (tax included) based on 202,525,749 shares[6] - The software and IT services market continues to grow, with the company maintaining strong operational capabilities and no significant risks[5] - Organizational structure, business layout, and workforce size have been adjusted and stabilized, with R&D investments gradually showing results in customer conversion and market expansion[5] - The company aims to optimize organizational mechanisms and talent structure, improve efficiency, and enhance business models to drive steady performance growth[6] - The company's future plans and forward-looking statements do not constitute substantive commitments to investors[6] - The company faces potential risks in its production and operations, detailed in the "Future Development Outlook" section of the report[6] - The company's subsidiaries include PanSoft Digital Technology (Jinan) Co., Ltd., PanSoft (Hong Kong) Limited, and PanSoft (Japan) Co., Ltd.[18] - The company has upgraded its original OSP platform to build a hybrid cloud intelligent application system, serving as a technological and data foundation for enterprise digital transformation[21] - The company's OSP platform provides a visual and integrated development model, covering the entire software lifecycle and serving as the mainstream R&D platform[21] - The company's registered address was changed to 20th Floor, Block B, 789 Shuntai North Road, High-tech Zone, Jinan City in March 2024[24] - The company's legal representative is Guoqiang Lin[24] - The company's website is www.pansoft.com, and its email is 300996@pansoft.com[24] - The company's board secretary is Haibing Bu, and the securities affairs representative is Qingchao Zhang[25] - The company's annual report is disclosed on the Shenzhen Stock Exchange website and major financial media such as China Securities Journal and Securities Times[26] - The company's annual report is available at the Board Office, 20th Floor, Block B, 789 Shuntai North Road, High-tech Zone, Jinan City[26] - The company's auditor is Grant Thornton LLP (Special General Partnership), located at 5th Floor, Scitech Plaza, 22 Jianguomenwai Avenue, Chaoyang District, Beijing[27] - The signing accountants for the company are Jian Liu and Yanting Zhao[27] - The company has accumulated rich experience in developing and servicing enterprise management software for large group enterprises, with a focus on group control as the core of its information solutions[39] - In 2022, the State-owned Assets Supervision and Administration Commission (SASAC) issued guidelines to promote the transformation of financial management concepts, organizations, mechanisms, and tools, aiming to significantly improve the financial management level of central enterprises within 5 years and build a world-class financial management system within 10-15 years[40] - In 2023, the Ministry of Finance issued guidelines to strengthen data asset management, aiming to establish a data asset management system and promote the efficient use of data assets to support economic and social digital transformation[41] - The company's main business is to provide management informatization solutions and IT comprehensive services for large group enterprises, leveraging cloud computing, big data, and AI technologies to drive digital and intelligent enterprise operations[44] - The company's business model focuses on large group clients and advantageous business areas, with a strategy of "focusing on large group clients and advantageous business fields"[46] - The company operates with a business unit-based organizational structure, supported by localized regional service institutions, ensuring rapid response to customer needs and high operational efficiency[47] - The company adopts a "customer + service" model for large group enterprises, leveraging its expertise in group control business to expand the market through customized software and long-term service strategies[48] - The company also focuses on expanding its market in traditional segments such as group treasury management, intelligent financial sharing, and XBRL data applications, while actively investing in new areas like smart safety, equipment management, and ERP under the trend of digitalization and domestic substitution[49] - The company successfully delivered and accepted treasury management projects for central enterprises, and initiated second-phase and enhancement projects, with the treasury data platform being promoted and applied in clients such as General Group, Sinopharm Group, CNNC, and Air China Group[54] - The company secured global treasury projects for large group clients including Sinochem and Shandong Energy, and continued to strengthen its advantages in overseas financial centers and global bank-enterprise direct connections, winning bids for clients such as SDIC, CRRC, China Construction, and Hisense Group[54] - The company has successfully built global treasury management systems for over 30 clients, including central enterprise groups, local state-owned enterprises, and leading industry group enterprises[54] - The company's EAM product successfully replaced foreign equipment management systems in a large central enterprise group and is currently being promoted and constructed[55] - The company's EPM product, replacing Oracle's comprehensive budget management system, completed blueprint design in a large central enterprise group and is currently under construction[55] - The company established a research and development team for equipment management and smart oilfield products, adhering to domestic technology routes and international advanced equipment asset management concepts[56] - The company integrated resources with Beijing Lianfang Company to develop and promote comprehensive control platforms and smart safety platform products for the mining industry, which have been applied in some coal mines of China Coal Group, Kailuan Group, and Jinchuan Group[56] - The company launched the "Domestic ERP Group Financial Core Product R&D Project" and "Technology Platform Enhancement R&D Project" in 2022, achieving breakthroughs in key performance indicators and functional innovation applications in 2023[59] - The company's domestic ERP financial product system includes accounting and reporting, treasury management, tax management, and financial sharing subsystems, with significant performance breakthroughs in a domestic environment[60] - The company's domestic EAM product completed baseline product development in 2023, including a full lifecycle management platform, perception and diagnosis center, equipment visualization center, and decision support center[62] - The company launched the new-generation R&D technology platform, Yunhu Platform, to enhance delivery quality, improve R&D efficiency, and reduce R&D costs[63] - Yunhu Platform, based on cloud-native architecture, provides comprehensive PaaS solutions, focusing on high concurrency, high availability, and scalability to meet large enterprise needs[63] - The data middle platform was upgraded in 2023, enhancing capabilities in data aggregation, processing, analysis, and management, supporting enterprise data assetization and service[65] - The company developed an intelligent assistant application integrated with AI technologies like voice recognition and natural language processing to upgrade business systems and knowledge bases[66][67] - The intelligent code assistant, trained on general large models and Yunhu Platform data, was piloted internally to improve R&D team efficiency in coding, diagnostics, and optimization[67] - The company serves large state-owned enterprises like