Summary of Century Information Conference Call Company Overview - **Company**: Century Information - **Industry**: Hotel Management Systems and SaaS Solutions Key Points and Arguments 1. **Revenue and Financial Performance**: Century Information's distribution business revenue decreased due to the cancellation of low-margin agency brands, but overall financial metrics remained stable. The strategic focus continues to be on platformization and globalization [2][4] 2. **Cloud Restaurant System**: The cloud restaurant system has signed contracts with the top five international hotel groups, with nearly 4,600 clients. The new Daylight PMS has been certified by Marriott and is operational in 755 hotels, with a year-on-year growth of 7% in hotel bookings [2][4] 3. **SaaS Business Growth**: As of June 2025, the Annual Recurring Revenue (ARR) reached 540 million yuan, a year-on-year increase of 21.4%, with a renewal rate exceeding 90%. The growth is primarily driven by an increase in the number of rooms launched by high-end clients [2][4] 4. **Integration Experience**: After completing CRS system integration with large international hotel groups, the integration experience can be reused for other similar groups, enhancing the scalability and reusability of the Daylight API integration solution [2][4][5] 5. **Global Deployment Strategy**: Major international hotel groups prefer to launch the Daylight system in China first due to advanced mobile applications and stringent data security compliance requirements. Successful implementation in China can facilitate global rollout [2][8][9] 6. **Enterprise Platformization**: The trend of enterprise-level platformization in hotel management systems is reflected in centralized management and unified configuration, allowing large groups like Marriott to manage thousands of hotels effectively [2][10] 7. **Competitive Landscape**: Despite holding a 90% market share in IT, competition remains fierce, particularly from established players like Oracle. The company focuses on high-end international hotel groups that prioritize product quality over price [2][12] 8. **Market Demand**: The demand for hotel information systems continues to grow despite a decline in retail sector demand. Leading hotel groups are replacing systems even during economic downturns [2][13] 9. **Acquisition Strategy**: The acquisition of a 13% stake in an information software company was driven by its quality asset status rather than strategic value, providing a return exceeding 7% [2][13] 10. **Future Integration Plans**: The company aims to integrate its hotel, restaurant, and retail business segments to create a comprehensive consumer platform, leveraging advancements in AI and Web 3.0 technologies [2][14] 11. **Customer Retention**: The customer renewal rate is exceptionally high, with most clients remaining loyal to the core cloud products [2][15] 12. **AI Integration**: AI technology is being integrated into hotel management systems to enhance operational efficiency and marketing automation, with over 30 AI application scenarios developed [2][17] 13. **Profitability Outlook**: The company currently incurs an annual loss of approximately 200 million yuan but has cash reserves of 4 billion yuan. The loss is gradually decreasing, with expectations of reaching breakeven through cross-selling and signing more framework agreements [2][19][20] 14. **R&D Focus**: Key R&D directions include migrating traditional systems to the new Daylight platform and integrating global payment systems. The R&D team is primarily based overseas, with a focus on localization and AI application [2][21] 15. **Project Development Cycle**: After securing large contracts, the company enters a phase of intensive development, with integration costs covered by client contracts, leading to stable R&D expenses and growing revenue as client numbers increase [2][22][23] 16. **Investment in R&D**: The company invests approximately 100 million USD annually, with expectations of revenue growth as client numbers increase and AI technology develops [2][24] Additional Important Insights - The company is strategically positioned to leverage its experience with high-end clients to attract smaller regional hotels, enhancing its market presence [2][5] - The focus on digital transformation in the hotel industry is a significant driver for the company's growth, despite fluctuations in other sectors [2][13]

北京中长石基信息技术股份有限公司投资者关系管理活动记录-调研纪要 证券代码：002153 证券简称：石基信息 北京中长石基信息技术股份有限公司 投资者关系活动记录表 编号：2025-18 投资者关系 活动类别 ☑ 特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他： 参与单位名 称及人员姓 名 请见附件"石基信息：2025 年 9 月 4 日投资者线上交流会参会人 员名单"（共计 56 人） 时间 2025 年 9 月 4 日 地点 上市公司接 待人员姓名 董事长、总裁-李仲初；董秘、副总裁-罗芳 投资者关系 活动主要内 容介绍 1、去年 10 月以来，公司签约了一系列酒店集团，那么我们 要如何预期这些订单在 ARR 中的体现节奏？ 对公司收入造成影响主要看上线，按上线酒店房间数量和按 月计费。在已签约的酒店集团中，对于集团层面所使用的应用比 较简单的酒店集团，例如凯宾斯基、美高梅，酒店上线会比较快； 对于集团层面所使用应用很复杂的酒店集团，例如万豪、洲际， 就会需要很长的集成时间，集成完成后才能开始上线。但是这种 应用复杂的酒店集团会有集团管控的上线时间表，因 ...