Chan Ye Xin Xi Wang·2025-06-23 01:47Overview - The demand for fiscal electronic invoices is increasing among government agencies, enterprises, and the public due to economic development and the push for green initiatives, leading to a market size of 1.761 billion yuan in 2024, a year-on-year growth of 6.09% [1][9] - Fiscal electronic invoices are digital documents regulated by fiscal departments, replacing paper documents and manual signatures with digital information and electronic signatures [1] Market Policy - China has been promoting fiscal electronic invoices through various policies aimed at replacing traditional paper invoices and enhancing fiscal supervision efficiency, including the "Fiscal Electronic Invoice Management Measures" and "Accounting Informationization Work Standards" [4][6] Industry Chain - The industry chain includes hardware suppliers (servers, storage devices), software developers (operating systems, databases), and application markets across various sectors such as government finance, healthcare, and education [7] Current Development - The fiscal electronic invoice market is expanding due to increased demand from administrative units and the public, with over 90% of the market attributed to fiscal electronic invoice systems [9] Competitive Landscape - The market is becoming increasingly competitive with key players including Yonyou Network, Aerospace Information, and Kingdee International, with Yonyou Network leading in revenue at 9.153 billion yuan in 2024 [11] Company Analysis - Fujian Bosi Software Co., Ltd. focuses on technology and innovation in electronic invoices and digital finance, achieving a revenue of 2.142 billion yuan in 2024 with a gross profit margin of 65.83% [13] - Beijing Zhongke Jiangnan Information Technology Co., Ltd. provides integrated management solutions for government departments, generating a revenue of 0.825 billion yuan in 2024, with electronic payment solutions accounting for 58.53% of its revenue [15] Development Trends - The emphasis on digital government will drive further reforms in fiscal electronic invoice management, leading to improved standards and processes for invoice issuance, storage, verification, and reimbursement [17]