[Table_Title] 利润实现快速增长，信创产品取得突破 ——普联软件(300996.SZ)2024 年年度报告点评 [Table_Summary] 事件： [Table_Main] 公司研究|信息技术|软件与服务 证券研究报告 普联软件(300996)公司点评报告 2025 年 04 月 12 日 公司于 2025 年 3 月 31 日收盘后发布《2024 年年度报告》。 点评： 营业收入实现稳健增长，控费驱动利润释放 公司全年实现营业收入 8.36 亿元，同比增长 11.60%；实现归母净利润 1.21 亿元，同比增长 95.06%；实现扣非归母净利润 1.06 亿元，同比增长 123.43%。分行业来看，石油石化行业实现收入 4.45 亿元，同比增长 15.62%；建筑地产行业实现收入 1.53 亿元，同比增长 19.67%；金融行业 实现收入 0.71 亿元，受监管政策出台进度影响，同比下降 13.02%；煤炭 电力行业，持续拓展中国中煤、山东能源、冀中能源、陕煤集团、晋能控股、 深圳能源等客户群体，实现营业收入 0.89 亿元，同比增长 29.98%。公司 三项费用（销售费用、管理费用、研发费 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% compared to the benchmark index [6][10]. Core Insights - The company achieved a robust revenue growth of 11.60% year-on-year, reaching 836.13 million yuan, while the net profit attributable to shareholders surged by 95.06% to 121.25 million yuan, driven by effective cost control [1][4]. - The company has made significant breakthroughs in its Xinchuang ERP financial product series, successfully landing multiple projects with major clients, which sets a solid foundation for future growth opportunities from 2025 to 2027 [2]. - The treasury management business is progressing well, with the company actively responding to the State-owned Assets Supervision and Administration Commission's initiatives, enhancing its service offerings to major clients [3]. Financial Performance Summary - For 2024, the company reported a total revenue of 836.13 million yuan, with a year-on-year growth of 11.60%. The net profit attributable to shareholders was 121.25 million yuan, reflecting a significant increase of 95.06% [1][7]. - The company forecasts revenue growth for the years 2025 to 2027, estimating revenues of 946.27 million yuan, 1.05753 billion yuan, and 1.16714 billion yuan, respectively, with corresponding net profits of 151.96 million yuan, 172.04 million yuan, and 193.42 million yuan [4][7]. - The earnings per share (EPS) are projected to increase from 0.60 yuan in 2024 to 0.96 yuan in 2027, with a decreasing price-to-earnings (P/E) ratio from 36.90 to 23.13 over the same period [4][7].

证券代码：300996 证券简称：普联软件 编号：2025-002 | | □特定对象调研 □分析师会议 | | --- | --- | | 投资者关系 活动类别 | □媒体采访 ■业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 □其他 | | 参与单位及 | 通过全景网"投资者关系互动平台"（https://ir.p5w.net）参加公司 | | 人员 | 2024年度业绩网上说明会的投资者 | | 时间 | 2025年4月11日 15:00-16:30 | | 地点 | 全景网"投资者关系互动平台"（https://ir.p5w.net） | | | 董事长、总经理 蔺国强 董事、常务副总经理 冯学伟 | | 上市公司接 | 副总经理、董事会秘书 乔海兵 | | 待人员 | 财务总监 聂玉涛 | | | 独立董事 石贵泉 | | | 保荐代表人 唐听良 | | | 公司于2025年4月11日（星期五）15:00-16:30在全景网"投资者关 | | | 系互动平台"（https://ir.p5w.net）举办2024年度业绩说明会，解读了 | | | 公司2024年度业绩情况，介 ...

Core Viewpoint - The company reported a significant increase in revenue and net profit for the year 2024, driven by a focus on strategic clients and advantageous business areas, while continuing to enhance its digital transformation and intelligent upgrade services [1][2][3] Financial Performance - The company achieved an operating revenue of 836 million yuan, representing an 11.60% increase compared to the previous year [1] - The net profit attributable to the parent company reached 121 million yuan, marking a substantial growth of 95.06% year-on-year [1] Strategic Client Development - The company has strengthened its collaboration with traditional strategic clients such as China National Petroleum, Sinopec, and China National Offshore Oil Corporation, expanding the scope of business with these clients [1] - New strategic clients, including Sinochem and China Coal Energy, have been successfully incubated, increasing the total number of strategic clients [1] Business Expansion and R&D - The company is focusing on expanding its treasury and financial sharing services, achieving progress in projects like treasury data platforms and integrated financial management [2] - The company plans to continue productizing its ERP software and expand its professional business areas through a "productization + marketization" approach [2] - There is a shift in R&D focus from platform development to product and intelligent application development, with an emphasis on enhancing consulting capabilities [3] Dividend Policy - The company proposed a cash dividend of 1.5 yuan per 10 shares (including tax) and a capital reserve conversion of 4 shares for every 10 shares held [3] Market Impact - The company primarily serves large state-owned enterprises in China, and the recent global tariff issues have not impacted its business due to its domestic market focus [3]

Core Insights - The company achieved a revenue of 836 million yuan in 2024, representing a year-on-year increase of 11.60% and a net profit of 121 million yuan, up 95.06% year-on-year [1] - The company is focusing on strategic clients and enhancing its client structure, with significant revenue growth in various sectors [2] - The company is making progress in its innovation and AI initiatives, with successful project implementations and a dedicated AI team [3] - Future revenue projections indicate continued growth, with expected revenues of 1.018 billion yuan in 2025, reflecting a growth rate of 21.71% [4] Financial Performance - In 2024, the total profit reached 135 million yuan, a substantial increase of 119.78% year-on-year [1] - The company reported a gross margin of 33.23% for the year, a decrease of 5.20 percentage points due to increased market competition and project delays [1] - For Q4 2024, the company recorded a single-quarter revenue of 542 million yuan, up 14.97% year-on-year, and a net profit of 106 million yuan, an increase of 14.29% [1] Client Structure and Revenue Breakdown - The oil and petrochemical sector generated 445 million yuan in revenue, a year-on-year increase of 15.62%, accounting for 53.18% of total revenue [2] - The construction and real estate sector achieved 153 million yuan in revenue, up 19.67% year-on-year, representing 18.26% of total revenue [2] - The financial and insurance sector saw a revenue of 71 million yuan, down 13.02% year-on-year, making up 8.44% of total revenue [2] - The coal and electricity sector grew by 29.98% year-on-year, generating 89 million yuan, which accounted for 10.70% of total revenue [2] Innovation and AI Development - The company received two Huawei Kunpeng certification certificates and successfully completed several projects in the innovation and AI sectors [3] - The establishment of a dedicated AI team aims to enhance the company's capabilities in intelligent application development and project delivery [3] - The company has made significant advancements in its AI product offerings, including the development of intelligent frameworks and models [3] Future Projections - Revenue forecasts for 2025, 2026, and 2027 are projected at 1.018 billion yuan, 1.230 billion yuan, and 1.465 billion yuan, respectively, with growth rates of 21.71%, 20.88%, and 19.13% [4] - The expected net profit for the same years is projected to be 170 million yuan, 233 million yuan, and 288 million yuan, with year-on-year growth rates of 40.52%, 36.86%, and 23.57% [4] - The company is compared to peers in the digital services sector, with a projected price-to-earnings ratio (PE) of 29, 22, and 17 for 2025 to 2027 [4]

截至2025年3月28日收盘，普联软件（300996）报收于23.52元，较上周的23.91元下跌1.63%。本周，普 联软件3月24日盘中最高价报24.0元。3月24日盘中最低价报22.75元。普联软件当前最新总市值51.1亿 元，在软件开发板块市值排名81/133，在两市A股市值排名2808/5140。 本周关注点 股本股东变化 近日普联软件披露，截至2025年3月31日公司股东户数为2.0万户，较12月31日增加5552.0户，增幅为 38.53%。户均持股数量由上期的1.41万股减少至1.01万股，户均持股市值为24.92万元。 普联软件股份有限公司2024年年度报告摘要显示，公司经本次董事会审议通过的利润分配预案为：以公 司2024年12月31日总股本202525749股剔除公司回购专用证券账户持有的1900000股后的200625749股为 基数，向全体股东每10股派发现金红利1.5元（含税），送红股0股（含税），以资本公积金向全体股东 每10股转增4股。此外，公司近三年累计现金分红总额为93,478,851.45元，高于最近三个会计年度年均 净利润的30%。预案符合《公司章程》及相关法律法规规定 ...

| 保荐机构名称：中泰证券股份有限公司 被保荐公司简称：普联软件 | | | | --- | --- | --- | | 保荐代表人姓名：曾丽萍 联系电话：0531-68889195 | | | | 保荐代表人姓名：孙芳晶 联系电话：0531-68889215 | | | | 保荐代表人姓名：唐听良 联系电话：0531-68889195 | | | | 保荐代表人姓名：苏天萌 联系电话：0531-68889195 | | | | 现场检查人员姓名：孙芳晶、唐听良、丁志皓 | | | | 现场检查对应期间：2024 年度 | | | | 现场检查时间：2024 年 11 月 22 日、2025 年 2 月 25 日、2025 3 月 20 日至 月 21 日、 | 3 | 年 | | 2025 年 3 月 24 日至 3 月 25 日 | | | | 一、现场检查事项 现场检查意见 | | | | （一）公司治理 否 不适用 | | 是 | | 现场检查手段：访谈公司相关董事、监事、高管人员，检查公司三会会议文件，核查董事 | | | | 会专业委员会文件，核对公司相关公告，查阅公司章程以及其他治理制度的相关文 ...

现就公司 2024 年度业绩说明会提前向投资者公开征集问题，广泛听取投资 者的意见和建议。投资者可于 2025 年 4 月 10 日（星期四）14:00 前访问 https://ir.p5w.net/zj/或扫描下方二维码，进入问题征集专题页面。公司将在 2024 年度业绩说明会上，回答投资者预先提出的问题及线上提问。 欢迎广大投资者积极参与本次网上说明会。 关于举行 2024 年度业绩说明会的公告 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、误导性陈述或者重大遗漏。 普联软件股份有限公司（以下简称公司）《2024 年年度报告》已于 2025 年 4 月 1 日在巨潮资讯网（http://www.cninfo.com.cn）披露。为了便于投资者进一步 了解公司 2024 年年度报告及公司经营情况，公司定于 2024 年 4 月 11 日（星期 五）15:00-16:30 在全景网举办 2024 年度业绩说明会，本次业绩说明会采用网络 远程方式举行，投资者可登录全景网"投资者关系互动平台"（https://ir.p5w.net） 参会。 届时公司出席本次业绩说明会的人员有：董事长蔺 ...

中泰证券股份有限公司 关于普联软件股份有限公司 首次公开发行股票并在创业板上市持续督导保荐总结报告书 | 保荐机构名称 | 中泰证券股份有限公司 | | --- | --- | | 注册地址 | 山东省济南市经七路 86 号 | | 办公地址 | 山东省济南市经七路 86 号 | | 法定代表人 | 王洪 | | 保荐代表人 | 曾丽萍、孙芳晶 | | 联系电话 | 0531-68889223 | | 是否更换保荐人或其他情况 | 无 | | 三、公司基本情况 | | | --- | --- | | 公司名称 | 普联软件股份有限公司 | | A 股股票简称 | 普联软件 | 根据中国证券监督管理委员会证监许可﹝2021﹞1358 号文批复，并经深圳 证券交易所同意，普联软件股份有限公司（以下简称"普联软件""发行人"或 "公司"）由主承销商中泰证券股份有限公司于 2021 年 5 月 24 日在深圳证券交 易所采取网下向符合条件的投资者询价配售和网上向持有深圳市场非限售 A 股 股份或非限售存托凭证市值的社会公众投资者定价发行相结合的方式向社会公 众公开发行人民币普通股（A 股）2,210.00 万股，发行 ...

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 | 次 0 | | 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、募集资金管理制度、 | 是 | | 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件一致 | 是 | | 4、公司治理督导情况 | | | （1）列席公司股东大会次数 | 未列席，已阅会议文件 | | （2）列席公司董事会次数 | 未列席，已阅会议文件 | | （3）列席公司监事会次数 | 未列席，已阅会议文件 | | 5、现场检查情况 | | | （1）现场检查次数 | 1 次 | | （2）现场检查报告是否按照交易所规定报送 | 是 | | （3）现场检查发现的主 ...