东北证券：易点云积极探索AI办公云 IT服务业绩拐点初现

Core Insights - Under economic pressure, small and medium-sized enterprises (SMEs) are shifting their demand towards lower-priced office IT equipment, prompting the company to develop and launch the Yidian Cloud A101 all-in-one machine in response to macroeconomic impacts and changing customer needs [1] - The company is continuously deepening its focus in the AI sector, collaborating with Microsoft to develop new hardware products [2] - Utilizing Microsoft's Azure OpenAI GPT products, the company has upgraded its technology to create the Yizhi Hui product, which is more suitable for SMEs [3] Performance Metrics - The average number of subscriptions per existing customer increased from 28 to 29, while the average number of subscriptions per new customer rose from 15 to 17, driven by the launch of new products and more effective sales strategies [4] Strategic Partnerships - On February 22, 2024, the company announced a strategic partnership with Beijing Xinnuo Times Technology Development Co., Ltd., an authorized distributor of Microsoft in China, marking a significant step in the AI field [5] Market Trends - During the current economic cycle, an increasing number of SMEs are expected to enhance their risk resilience by leasing equipment from office supply vendors, which is likely to support the company's ongoing growth [6] - The company aims to leverage its main business of IT subscriptions to connect deeply with approximately 50,000 existing and potential SME clients, assisting them in building their own AI capabilities to better serve the expansive enterprise service market [6] Product Development - The company is focused on continuously iterating its product lineup to meet the needs of small and medium-sized customers [7]