Yusys Technologies(SZ:300674) Zhi Tong Cai Jing·2025-12-24 23:41Company Overview - Yuxin Technology, established in 1999, is one of the earliest companies in China to provide technology solutions for the financial industry, offering full-stack technology solutions to a wide range of financial institutions [4] - The company focuses on three main business areas: banking technology solutions, non-banking technology solutions, and operational services, covering the entire value chain of financial institutions [4] - Yuxin Technology has developed a comprehensive operational service system that supports digital marketing, digital retail credit, and digital inclusive finance for small and medium-sized financial institutions [4] Market Position - According to a report by Zhaoshang Consulting, Yuxin Technology ranked second in the banking fintech solutions market among all Chinese companies from 2022 to 2024, with a market share of 2.1% in 2024 [1] - The company also ranked first among Chinese listed companies in the same category during the same period [1] - Yuxin Technology has a broad customer base, including over 1,000 clients in the banking fintech sector, and serves various financial institutions, including central banks, state-owned banks, and foreign banks [5][6] Financial Performance - The company's revenue for the fiscal years 2022, 2023, and projected for 2024 is RMB 4.28 billion, RMB 5.20 billion, and RMB 3.95 billion respectively [7][8] - Gross profit for the same periods is RMB 1.12 billion, RMB 1.34 billion, and RMB 1.14 billion, with corresponding gross profit margins of 26.1%, 25.7%, and 28.8% [9][10] - Net profit for the fiscal years 2022, 2023, and projected for 2024 is RMB 253 million, RMB 330 million, and RMB 384 million respectively [11] Industry Overview - The fintech solutions market is expected to grow significantly, with global financial institutions' technology spending projected to increase from approximately RMB 2.8 trillion in 2020 to RMB 4.2 trillion by 2024, representing a compound annual growth rate (CAGR) of about 10.4% [12] - In China, the fintech solutions market is expected to grow from RMB 152 billion in 2020 to RMB 236 billion by 2024, with a CAGR of approximately 11.6% [21] - The demand for fintech solutions is driven by the increasing digital transformation of financial institutions, which is expected to continue to accelerate in the coming years [17][19]