Investment Rating - The report maintains a "Recommended" rating for the company [6] Core Viewpoints - The company achieved stable growth in revenue and profit in Q1 2025, with operating income of 2.001 billion yuan, a year-on-year increase of 0.36%, and a net profit attributable to shareholders of 50 million yuan, up 6.41% year-on-year [1] - The company is focused on building a digital application matrix to assist clients in their digital transformation, developing various smart application software products across multiple industries [2] - The company is enhancing its capabilities in key industries, particularly in financial technology and artificial intelligence, to provide comprehensive solutions and maintain a leading position in the industry [3] Financial Forecasts - The company is projected to achieve operating revenues of 12.052 billion yuan, 13.302 billion yuan, and 14.895 billion yuan for the years 2025, 2026, and 2027 respectively, with corresponding net profits of 626 million yuan, 690 million yuan, and 794 million yuan [4][5] - Earnings per share (EPS) are expected to be 0.91 yuan, 1.00 yuan, and 1.16 yuan for the years 2025, 2026, and 2027, with price-to-earnings (PE) ratios of 26, 24, and 21 respectively [5][4]

电科数字（600850.SH）2025 年一季报点评 25Q1 业绩符合预期，营收利润稳健增长 2025 年 05 月 04 日 ➢ 事件概述：电科数字于 2025 年 4 月 29 日发布 2025 年一季报，公司多行 业、多领域齐头并进，一季度业务开展稳定，盈利利润均取得稳健增长。2025 年 一季度，公司实现营业收入 20.01 亿元，同比增长 0.36%；实现归属于上市公 司股东的净利润 0.50 亿元，同比增长 6.41%；实现归属于上市公司股东的扣除 非经常性损益的净利润 0.49 亿元，同比增长 4.00%；研发费用 1.05 亿元，同 比增长 1.70%，研发费用稳步提高，彰显公司发展决心。 ➢ 构建数字应用矩阵，助力客户数字化转型。公司紧扣数据驱动决策、业务流 程再造、产业智能化升级、组织效率提升等数字化需求，以态势感知、业务赋能 为目标，打造物联网平台、数据引擎、数字孪生引擎、GIS 引擎等数智应用软件 产品，叠加物联感知设备接入、数据治理、自动化建模、低代码场景编辑、云渲 染等核心技术服务能力，构建数智应用产品矩阵。目前，相关数智应用产品已在 水利、交通、能源、医疗、工业制造、政府、商业 ...