Beijing Shiji Information Technology (SZ:002153)2025-05-16 12:55Group 1: Company Performance and Financials - The company forecasts a total revenue for 2024 between 2.5 billion and 3.7 billion RMB, with a significant gap of 1.2 billion RMB between the upper and lower limits [8][21]. - The first quarter revenue decreased by 6.2% year-on-year, primarily due to a significant drop in revenue from a subsidiary, while hotel business revenue showed slight growth [18]. - The hotel information system business achieved a revenue of 1.07 billion RMB in 2024, representing a growth of approximately 15% compared to the previous year [13]. Group 2: Product Development and Market Expansion - The Cambridge cloud PMS product has been launched in hundreds of hotels, with over 100 in Hong Kong, Macau, and Taiwan [4]. - The Daylight PMS and Infrasys POS systems have been gradually rolled out, with Infrasys Cloud having been implemented in 4,333 hotels by the end of 2024 [5]. - The company is actively exploring the integration of AI models into its technology and product development [6]. Group 3: Strategic Partnerships and Collaborations - The company maintains strategic partnerships with Alibaba in various fields, including hotel information systems and cloud computing [10]. - Recent collaborations include agreements with major hotel groups such as New World Hotels and Kempinski, enhancing the company's international presence [19]. Group 4: Challenges and Investor Concerns - The company has faced continuous losses over the past four years, raising concerns about its growth potential [5][15]. - The stock price has remained below historical levels, leading to questions about the company's long-term investment value [7][22]. - There are concerns regarding the slow pace of onboarding new clients, particularly in the international market, which is attributed to the cautious selection process for core hotel systems [29].