Beijing Shiji Information Technology (SZ:002153) GOLDEN SUN SECURITIES·2024-10-29 04:37Investment Rating - The report maintains a "Buy" rating for the company [5][7]. Core Insights - The establishment of a new office in Saudi Arabia is part of the company's global growth strategy, aimed at enhancing local customer service and promoting digital technology in the hotel industry [2][3]. - The company's revenue for the first half of 2024 reached 1.382 billion yuan, a year-on-year increase of 15.09%, with a net profit of 24.72 million yuan, up 10.83% [3]. - The new generation cloud platform, SEP, has been successfully implemented in over 433 hotels globally, with significant client engagement from major hotel groups [4][3]. - The Infrasys Cloud POS system has seen stable growth, with 3,955 clients onboarded by August 2024 [3]. Financial Performance Summary - For 2024, the company expects revenue to reach 3.25 billion yuan, with a net profit of 66 million yuan, reflecting a growth rate of 18.2% [6]. - The company's SaaS business ARR reached 447 million yuan by June 2024, a year-on-year increase of 30.8% [3]. - The financial metrics indicate a recovery trend, with projected net profits increasing significantly from 66 million yuan in 2024 to 256 million yuan in 2026 [6].