MEIYA PICO INC.(SZ:300188)2022-12-08 03:04Group 1: Company Overview - Meiya Pico is a leading company in the electronic data forensics industry in China, focusing on technology research and product sales related to electronic data forensics and cybersecurity [3] - The company offers four main product series: electronic data forensics, large search, big data analysis, and video collection and analysis [3][4] - Meiya Pico is one of the two publicly listed companies in the global electronic data forensics industry [5] Group 2: Product and Service Details - Electronic data forensics includes a full range of products for data collection, analysis, and evidence preservation, primarily used by law enforcement agencies [4][5] - Video collection and analysis products enhance the efficiency of video and image analysis, applicable in various public security sectors [5] - Big data analysis services are provided to law enforcement and administrative departments, with a strategic agreement signed with the National Information Center to expand internet government big data services [6] Group 3: Recent Developments and Acquisitions - The company acquired a 51% stake in Wuhan Daqian to enter the video analysis market, capitalizing on the growing demand for video data analysis [12][13] - Strategic cooperation agreements have been established with the National Information Center and the Chinese Academy of Social Sciences to jointly develop big data services [13] - The establishment of a subsidiary, Zhengxin Century, focuses on the market application of electronic identity authentication technology [13] Group 4: Financial Performance and Projections - Jiangsu Taxsoft's net profit grew from 9.15 million in 2013 to 15.6 million in 2014, with a gross margin of 90% and a net profit margin exceeding 30% [10] - Profit forecasts for Jiangsu Taxsoft for 2015, 2016, and 2017 are projected at 31.1 million, 41.6 million, and 50.6 million respectively, indicating a compound annual growth rate of 48% from 2014 to 2017 [10] Group 5: Market Outlook and Strategic Vision - The demand for electronic tax inspection and analysis is expected to grow due to increasing tax revenue, which has surpassed 10 trillion, and the rise in tax violations [9] - The company aims to continue its external acquisition strategy, focusing on complementary or synergistic targets related to its business strategy [14]