BEYONDSOFT(SZ:002649)2022-11-21 16:10Company Overview - 博彦科技 is a leading comprehensive IT service provider in China, focusing on vertical industries such as finance, internet, and high-tech, offering a multi-layered service system covering the entire lifecycle of IT services [3] - The company has over 70 branches and global delivery centers in 8 countries, demonstrating its global delivery capability [3] Financial Performance - In the first half of 2021, 博彦科技 achieved a revenue of 2.449 billion CNY, with overseas revenue contributing 850 million CNY, accounting for 34.72% of total revenue [4] - Year-on-year revenue growth was 23.34%, with a gross margin improvement to 24.52%, up by 3.9 percentage points [4] - The net profit attributable to shareholders was 176 million CNY, a 53.03% increase year-on-year, while the net profit after deducting non-recurring items was 164 million CNY, up 63.03% [4] Revenue Breakdown - Revenue by industry: - Internet sector revenue was 949 million CNY, with a growth rate of 36.20% - Financial sector revenue was 425 million CNY, with a growth rate of 35.90% [4] - Revenue by business type: - R&D engineering services generated 1.243 billion CNY, growing by 26.21% - Product and solution services generated 700 million CNY, growing by 22.33% [4] - Revenue by region: - Domestic revenue was 1.6 billion CNY, with a growth rate of 33.63%, increasing its share from 60.26% to 65.28% [4] - Overseas revenue was 850 million CNY, with a growth rate of 7.75%, showing a slight decrease in its share of total revenue [4] Strategic Focus - The company aims for high-quality sustainable development, focusing on optimizing existing customer relationships while expanding new quality clients [5] - 博彦科技 is strategically positioned in the financial IT sector, leveraging its experience in various sub-sectors such as risk control and big data applications [6] - The acquisition of融易通科技 in May 2021 enhances its banking IT solution offerings, enabling comprehensive online financial technology services [6] Market Challenges and Responses - The company acknowledges potential impacts from regulatory changes in the internet sector but maintains that its diversified client base mitigates overall risks [7] - It closely monitors national policies and maintains communication with clients to adjust strategies as needed [7] Financial Instruments - The impact of convertible bond interest is relatively minor, with estimated interest payments of approximately 4 million CNY in 2021 and expected to rise to over 5 million CNY in the following year [7] - The adjusted interest expense for financial reporting is projected to be around 30 million CNY for 2021, which may affect reported profits [7]