事件概述 近期，鼎捷数智在上海举行"AI 升维：掌舵数智未来「新书创想会」"，并正式发布凝聚鼎捷多年实践 经验的著作《数智生产力——从数字转型到数智重生》。创想会联袂来自学界、产业界、投资界的顶尖 智囊，共同拆解AI 时代企业"重生方程式"。 举办数智生产力创想会，聚焦AI 应用方法论 此次创想会，鼎捷数智董事长兼总裁叶子祯深度解读鼎捷的品牌主张，他指出，AI 的价值绝非替代 人，而在于突破人类能力边界，鼎捷也一直致力于帮助更多的企业用数据和智能技术创新生产力，其中 创·新生产力具体表现在四个方面：补人力之不足、补能力之不足、创新于无解之题和创值于无能之 处，用数据和智能技术能够帮助企业突破动机、能力、思维和时空的限制，创造全新的生产力，实现将 人类从复杂繁琐的劳动事务中解放，追求品质生活的美好愿望。 此外，鼎捷也再度重申了对于AI 融合下的未来世界架构：1）一个模型：物理数字双世界模型，由人跟 智能设备组成的物理世界和由智能体组成的数字世界共同构成；2）两种内核：快任务的数据自决驱动 （通过数据的变化能够实现走一步算一步的快思考）和慢任务的智能生成驱动（通过人工智能以智能生 成的方式来完成周详的决策或规划） ...

Investment Rating - The investment rating for the company is "Accumulate" with a target price of 68.56 CNY [6][12]. Core Insights - The company held a 2025 New Book Innovation Conference, introducing the "SUPA" model and a new paradigm of thinking. The "Athena" platform has completed its core technology loop, and the company is expected to accelerate application density, indicating a positive long-term growth outlook [2][12]. - The report maintains an "Accumulate" rating and raises the target price to 68.56 CNY, reflecting an expected EPS growth of 0.72 CNY, 0.90 CNY, and 1.13 CNY for 2025-2027, respectively. The company is anticipated to achieve a valuation premium due to its differentiated advantages in AI infrastructure and industry-specific applications [12][13]. Financial Summary - Total revenue is projected to grow from 2,228 million CNY in 2023 to 3,373 million CNY in 2027, with a CAGR of approximately 11.5% [4][13]. - Net profit attributable to the parent company is expected to increase from 150 million CNY in 2023 to 308 million CNY in 2027, reflecting a significant growth rate of 26.1% in 2027 [4][13]. - The earnings per share (EPS) is forecasted to rise from 0.55 CNY in 2023 to 1.13 CNY in 2027 [4][13]. Revenue Breakdown - The company's revenue is expected to be driven by various segments, including: - Technical services with a projected revenue of 1,113.71 million CNY in 2024, growing to 1,550.47 million CNY by 2027 [14]. - Self-developed ERP software business, anticipated to generate 662.35 million CNY in 2024, increasing to 1,051.15 million CNY by 2027 [14]. - Outsourced software and hardware business, expected to grow from 554.61 million CNY in 2024 to 771.74 million CNY in 2027 [14]. Valuation Metrics - The company is currently trading at a price-to-earnings (P/E) ratio of 104.13, which is expected to decrease to 50.82 by 2027 [4][13]. - The price-to-sales (P/S) ratio is projected to be 7.02 in 2023, declining to 4.64 by 2027, indicating a potential for improved valuation as earnings grow [13][14].