Investment Rating - The report maintains a "Recommended" rating for the company, with a target price of 48 CNY based on a current price of 33.26 CNY [2][3]. Core Insights - In the first half of 2024, the company achieved a revenue of 12.53 billion CNY, representing a year-over-year increase of 46%. However, the net profit attributable to the parent company was a loss of 154 million CNY, marking a shift from profit to loss compared to the previous year [2]. - The revenue for Q2 2024 was 7.08 billion CNY, showing a year-over-year growth of 61.7% and a quarter-over-quarter increase of 144%. The net profit for Q2 was 120 million CNY, down 13.3% year-over-year [2]. - The company has diversified its business into three main categories: 1. Software and Digital Technology Services, contributing 8.51 billion CNY (68% of total revenue) 2. Computing Products and Digital Infrastructure Services, contributing 3.91 billion CNY (31.2%) 3. Digital Energy and Intelligent Computing Services, contributing 9.6 million CNY (0.8%) [3]. - The company has improved cash flow management, with a net cash flow from operating activities of -371 million CNY for the first half of the year, a 57.89% increase year-over-year. In Q2 2024, the net cash flow reached 1.012 billion CNY, a 173.17% increase quarter-over-quarter [3]. Financial Summary - The company forecasts revenues of 30.54 billion CNY, 35.13 billion CNY, and 39.96 billion CNY for 2024, 2025, and 2026, respectively, with year-over-year growth rates of 73.7%, 15%, and 13.7% [4]. - The projected net profit attributable to the parent company for the same years is 692 million CNY, 864 million CNY, and 1.07 billion CNY, with growth rates of 29.7%, 24.7%, and 23.9% [4]. - The company’s total revenue for 2023 was 17.58 billion CNY, with a year-over-year decline of 8% [4]. - The earnings per share (EPS) are projected to be 0.73 CNY, 0.91 CNY, and 1.12 CNY for 2024, 2025, and 2026, respectively [4].

本报告仅供 Choice 东方财富 使用，请勿传阅。 公司快报 2024 年 09 月 05 日 软通动力(301236.SZ) 证券研究报告 咨询实施及其他服务 投资评级 买入-A 维持评级 6 个月目标价 44.27 元 股价 (2024-09-05) 33.26 元 交易数据 总市值(百万元) 31,694.82 流通市值(百万元) 22,627.29 总股本(百万股) 952.94 流通股本(百万股) 680.32 12 个月价格区间 23.97/54.91 元 Q2 收入快速增长，打造软硬一体的华为生态 事件概述： 近日，软通动力发布《2024 年半年度报告》。上半年，公司软硬一体 战略驱动业务规模大幅增长，实现营业收入 125.26 亿元，同比增长 45.98%，主要系本期公司完成了购买资产，合并范围增加所致；归母 净利润亏损 1.54 亿元，扣非归母净利润亏损 2.1 亿元。 Q2 收入快速增长，提高回款效率并严控支出管理 单 Q2 来看，公司实现营业收入 70.76 亿元，同比增长 61.66%；归母 净利润盈利 1.23 亿元，同比下降 13.38%，扣非归母净利润 0.74 亿 元，同比下 ...

证券代码：301236 证券简称：软通动力 公告编号：2024-056 软通动力信息技术（集团）股份有限公司 关于股东股份质押的公告 刘天文先生保证向公司提供的信息内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 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。 软通动力信息技术（集团）股份有限公司（以下简称"公司"）于近日接到股 东刘天文先生函告，获悉其质押了持有的公司部分股份，具体事项如下： 一、股东股份质押基本情况 （一）本次股份质押基本情况 | 股东 | 是否为控股股东 或第一大股东及 | 本次质押数 | 占其所持 | 占公司总 | 是否为限 | 是否为补 | 质押 | 质押 | 质权人 | 质押 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 其一致行动人 | 量（股） | 股份比例 | 股本比例 | 售股 | 充质押 | 起始日 | 到期日 | | 用途 | | 刘天文 | 是 | 19,500,000 | 8.61% | 2.05% ...

Investment Rating - The report maintains a "Buy" rating for the company [1][6]. Core Views - The company's half-year report for 2024 shows that revenue reached 12.526 billion yuan, a year-on-year increase of 45.98%, while net profit attributable to shareholders was -1.54 billion yuan, a decrease of 176.17% compared to the previous year, aligning with market expectations [2]. - The company's "soft and hard integration" strategy is driving significant business growth, with Q2 2024 revenue of 7.076 billion yuan, a year-on-year increase of 61.66% and a quarter-on-quarter increase of 29.86%, marking a return to profitability [2][6]. - The company has established itself as a core partner in Huawei's ecosystem, focusing on the OpenHarmony operating system and collaborating with various industry leaders to promote a unified ecosystem [3][6]. Financial Summary - For 2024, the company is expected to achieve a net profit of 755 million yuan, with a year-on-year growth rate of 41.4%, and projected EPS of 0.79 yuan [7][6]. - The company's revenue is forecasted to grow significantly, with estimates of 34.017 billion yuan in 2024, 39.844 billion yuan in 2025, and 45.680 billion yuan in 2026, reflecting a growth rate of 93.5% in 2024 [7][9]. - The company's asset-liability ratio as of June 2024 is 53.58%, indicating a healthy financial structure despite an increase due to acquisitions [2][6].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has clarified its new business strategy, with a focus on four major growth areas, which are expected to drive new growth momentum [3] - The performance of Huawei in the first half of 2024 has shown significant growth, with multiple catalysts expected in September [3] - The company is expected to benefit from the acceleration of the Hongmeng ecosystem in the second half of 2024, with a forecasted recovery in profitability [3] Financial Performance Summary - In the first half of 2024, the company achieved revenue of 12.5 billion yuan, a year-on-year increase of 46%, but reported a net loss attributable to shareholders of 154 million yuan [2][3] - In Q2 2024, the company turned profitable with a revenue of 7.076 billion yuan, a 62% year-on-year increase, and a net profit of 123 million yuan [2][3] - The operating cash flow in Q2 2024 reached 1.012 billion yuan, a quarter-on-quarter increase of 173.17% [2] Business Strategy and Growth Areas - The company completed the acquisition of Tongfang Computer in February 2024, enhancing its competitiveness in software and digital technology services [3] - The revenue breakdown for the first half of 2024 shows that the software and digital technology services segment generated 8.513 billion yuan, accounting for 67.97% of total revenue [3] - The company is actively expanding into international markets and has positioned digital energy and intelligent computing services as emerging business areas [3] Earnings Forecast and Valuation - The forecast for net profit attributable to shareholders for 2024-2026 is 714 million, 925 million, and 1.118 billion yuan respectively [3] - The company’s earnings per share (EPS) for 2024 is projected to be 0.75 yuan, with a price-to-earnings (P/E) ratio of 45.42 based on the current price [2][3]

Investment Rating - The report maintains an "Accumulate" rating for the company [1] Core Views - The company achieved a significant revenue increase of 45.98% year-on-year, reaching 12.526 billion yuan in the first half of 2024, despite a net loss of 154 million yuan [3] - The collaboration with Huawei is deepening, with advancements in the HarmonyOS ecosystem and various cloud computing projects [3] - The company is expanding its computing product offerings and has secured nearly 30 major project wins in the first half of 2024, positioning itself among the top tier in the industry [3] Financial Performance - In Q2 2024, the company reported revenue of 7.076 billion yuan, a year-on-year increase of 61.66%, while the net profit was 123 million yuan, down 13.25% year-on-year [3] - The company forecasts revenues of 30.078 billion yuan, 33.930 billion yuan, and 38.191 billion yuan for 2024, 2025, and 2026 respectively, with net profits projected at 636 million yuan, 979 million yuan, and 1.286 billion yuan [6][7] Market Position - The company is recognized as a leading software and information technology service provider in China, benefiting from its strategic partnerships and product innovations [5][6] - The company has become a core partner of NVIDIA and ranks as the fourth largest global customer for GEFORCE products, indicating strong market presence [3] Future Outlook - The report anticipates a robust growth trajectory for the company, with expected earnings per share (EPS) of 0.67 yuan, 1.03 yuan, and 1.35 yuan for the years 2024, 2025, and 2026 respectively [6][7] - The company is actively involved in the development of the OpenHarmony operating system and has established itself as a key player in the Huawei ecosystem [3][5]

软通动力信息技术（集团）股份有限公司（以下简称"公司"）于 2024 年 8 月 19 日发出通知，2024 年 8 月 29 日以现场及通讯表决方式召开了第二届监事会第 九次会议，会议应到监事 3 名，实到监事 3 名。会议的召集和召开程序符合有关 法律、行政法规、部门规章、规范性文件和公司章程的有关规定。本次会议由监 事会主席唐琳女士主持，公司部分高级管理人员列席了本次会议，经过认真审议， 形成如下决议： 一、会议审议通过如下议案 证券代码：301236 证券简称：软通动力 公告编号：2024-050 软通动力信息技术（集团）股份有限公司 第二届监事会第九次会议决议公告 本公司及监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。 具体内容详见同日刊登在巨潮资讯网上的《2024 年半年度募集资金存放与 使用情况的专项报告》。 表决结果：3 票同意、0 票反对、0 票弃权。 二、备查文件 特此公告。 软通动力信息技术（集团）股份有限公司 1、审议通过《关于 2024 年半年度报告及摘要的议案》 监事会经认真审核，认为：公司董事会编制并审核的 2024 年半年度报告及 摘要 ...

证券代码：301236 证券简称：软通动力 公告编号：2024-049 软通动力信息技术（集团）股份有限公司 第二届董事会第十次会议决议公告 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。 3、审议通过《关于选举非独立董事的议案》 软通动力信息技术（集团）股份有限公司（以下简称"公司"）于 2024 年 8 月 19 日发出通知，2024 年 8 月 29 日以现场及通讯表决方式召开了第二届董事会第 十次会议，会议应到董事 9 名，实到董事 9 名。会议的召集和召开程序符合有关 法律、行政法规、部门规章、规范性文件和公司章程的有关规定。本次会议由董 事长刘天文先生主持，公司监事和高级管理人员列席了本次会议，经过认真审议， 形成如下决议： 一、会议审议通过如下议案 1、审议通过《关于 2024 年半年度报告及摘要的议案》 董事会认为 2024 年半年度报告及摘要的编制和审核的程序符合相关法律法 规的有关规定，报告内容真实、准确、完整地反映了公司 2024 年半年度财务状 况和经营成果，不存在虚假记载、误导性陈述或者重大遗漏。 具体内容详见同日刊登在巨潮资讯网上的 ...

软通动力信息技术（集团）股份有限公司（以下简称"公司"）根据《上市公司监管指引 第 2 号——上市公司募集资金管理和使用的监管要求(2022 年修订)》《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(2023 年 12 月修订)》及相关格式指引的 要求，编制了 2024 年半年度募集资金存放与使用情况的专项报告，具体内容如下： 一、募集资金基本情况 （一）实际募集资金金额、资金到账时间 经中国证券监督管理委员会《关于同意软通动力信息技术（集团）股份有限公司首次公开 发行股票注册的批复》（证监许可〔2022〕123 号）同意注册，公司首次公开发行人民币普通股 (A 股)股票 63,529,412 股，每股面值人民币 1.00 元，发行价为每股人民币为 72.88 元，募集资 金总额为人民币 4,630,023,546.56 元，扣除发行费用（不含增值税）后的募集资金净额为人民 币 4,342,317,872.79 元。上述募集资金到位情况业经中汇会计师事务所(特殊普通合伙)审验， 并由其于 2022 年 3 月 10 日出具了《验资报告》(中汇会验[2022]0626 号)。公司已将 ...

证券代码：301236 证券简称：软通动力 公告编号：2024-055 软通动力信息技术（集团）股份有限公司 关于 2024 年半年度计提资产减值准备的公告 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。 软通动力信息技术（集团）股份有限公司（以下简称"公司"）根据《企业 会计准则》《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》《深圳证券交易所创业板上市公司自律监管指南第1号——业务办理》等 相关规定，对截至2024年6月30日合并财务报表范围内相关资产计提减值准备， 现将有关情况公告如下： 一、本次计提资产减值准备情况概述 （一）计提减值准备的原因 为更加真实、准确地反映公司财务状况及经营成果，依照《企业会计准则》 《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》 等相关规定的要求，基于谨慎性原则，公司对公司及下属子公司存在减值迹象的 各类资产进行了减值测试，并计提相应减值准备。 （二）计提资产减值准备的资产范围和总金额 2024年半年度计提信用减值损失和资产减值损失共计8,299.89万元，具体明 细如下： ...