Beijing Shiji Information Technology (SZ:002153)2025-07-04 11:02Group 1: Business Operations - The integration with Marriott's new generation central reservation system (ACRS) is currently in progress, following Marriott's planned timeline [1] - The SaaS business charges subscription fees based on monthly usage and the number of hotel rooms, with pricing varying for different service types [1] - The rollout of DAYLIGHT PMS in hotels outside of InterContinental's China region is still under evaluation [2] Group 2: Financial Performance - The gross margin for hotel business is expected to decline in 2023 and 2024 due to increased amortization costs of intangible assets starting from the end of 2023 [2] - The company experienced significant losses in Q4 of the previous year primarily due to impairment of long-term equity investments and increased bad debt provisions for aged receivables [4] - The risk of significant goodwill impairment this year is considered low, pending the results of year-end asset impairment testing [4] Group 3: Future Outlook - The company plans to maintain its overall R&D investment to integrate more subsystems with DAYLIGHT PMS and to support its diverse software products [3] - Recent agreements with Marriott, a leading global hotel group, are expected to accelerate future signing processes with other clients in the industry [4] Group 4: Product Development - INFRASYS POS, the cloud-based restaurant management system, has signed contracts with all top five global hotel groups, with a total of 4,333 clients expected to be online by the end of 2024 [4] - The system enhances booking efficiency and reduces costs by connecting customer information systems directly with various booking channels and payment institutions [5]