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计算机行业点评:多点数智完成上市,智慧零售行业迎政策利好
2025-01-17 02:25

Investment Rating - The industry investment rating is "Outperform the Market," indicating that the industry index is expected to perform better than the benchmark index over the next 6-12 months [10]. Core Viewpoints - The report highlights that the recent listing of Duodian Shuzhi, the largest retail digital solution provider in China, is expected to invigorate the smart retail sector, supported by favorable policies aimed at boosting consumption [1][3]. - The retail digitalization market is projected to grow significantly, with the market size in Asia expected to increase from approximately 31 billion yuan in 2023 to about 80 billion yuan by 2028, reflecting a CAGR of 20.9%. In China, the market is anticipated to grow from 18.7 billion yuan to around 61.8 billion yuan, with a CAGR of 27.1% [5]. Summary by Sections Industry Overview - The report discusses the positive impact of government policies aimed at boosting consumption, which is expected to revitalize the retail market in 2025. Key meetings have emphasized the importance of enhancing consumer spending and supporting low-income groups [5]. Company Analysis - Duodian Shuzhi, established in 2015, has become the largest retail digital solution provider in China, with operations in 10 countries and regions. The company reported a revenue growth of over 20% year-on-year in the first half of 2024, with a total of 444 ongoing business clients [5]. - The company has a strong customer base and has achieved a revenue CAGR of 37% from 2021 to 2023, with improving gross margins and decreasing expense ratios [5]. Market Potential - The report notes that the digitalization of retail is a key growth area, with significant opportunities for traditional service sectors to upgrade digitally. The global smart hotel market is also expected to grow from 5 billion USD in 2020 to 15 billion USD by 2027, with a CAGR of 17% [5].