Beijing Shiji Information Technology (SZ:002153)2023-01-11 23:04Group 1: International Expansion - The company has signed benchmark clients such as Peninsula, InterContinental, and Langham Hotels, with plans for accelerated international deployment in 2023 [2] - The flagship Peninsula store in Hong Kong has successfully launched, with preparations underway for upcoming openings in London and Istanbul [2] - The company aims to leverage product and technology advantages to sign more influential clients in the industry [2] Group 2: Market Trends and Competition - Large international hotel groups previously using self-developed PMS systems are abandoning plans to develop their own cloud systems, as costs are higher than using third-party providers [3] - The pandemic significantly impacted sales of mature products, leading to cash revenue losses, but allowed for uninterrupted product development [3] - The company has maintained a competitive edge despite the emergence of new competitors, as its products remain ahead in terms of functionality and security compliance [4] Group 3: Financial and Operational Insights - The company has increased R&D investment during the pandemic, resulting in faster and better product development [3] - The internationalization strategy has been in place for several years, with a global team of over a thousand professionals established at a cost of several hundred million dollars [4] - The company’s cloud products are designed to automatically comply with various countries' data protection laws, enhancing their market position [4]