NANTIAN(000948)2025-04-18 06:55Investment Rating - The report maintains a "Buy" rating for the company [4][6]. Core Views - Under the "reciprocal tariff" policy, cross-border payments are expected to transition towards regionalization, accelerating the development of the Cross-border Interbank Payment System (CIPS) and highlighting the advantages of digital RMB settlements. The company, Nantian Information, possesses a digital RMB circulation service platform and has geographical advantages, which may lead to significant growth opportunities [4][9]. Financial Projections - The adjusted revenue forecasts for the company from 2024 to 2026 are projected to be RMB 9.87 billion, RMB 11.39 billion, and RMB 12.89 billion respectively. The net profit attributable to the parent company is expected to be RMB 1.56 billion, RMB 2.01 billion, and RMB 2.39 billion for the same period. The earnings per share (EPS) are projected to be RMB 0.40, RMB 0.51, and RMB 0.61 respectively, with corresponding price-to-earnings (PE) ratios of 46.0, 35.7, and 30.0 [6][8]. Market Position and Growth - The company is positioned to benefit from the increasing use of the digital RMB in cross-border payments, which is expected to enhance the independence and security of these transactions. The digital RMB's application in CIPS is anticipated to improve transparency and security in cross-border payments [9][10]. - The report highlights that as of the end of 2024, the RMB ranked as the fourth most used payment currency globally, with a 23% year-on-year increase in cross-border RMB payment amounts, totaling RMB 64.1 trillion [9]. Company Overview - Nantian Information has developed its own digital RMB circulation service platform, which includes various financial services applicable to multiple scenarios such as smart retail and cross-border trade. The company is the only main board IT listed company in Yunnan Province, providing it with a strategic advantage in the South Asian and Southeast Asian markets [9][10].