Watertek(SZ:300324)2022-12-05 06:28Group 1: Company Overview - The company focuses on building a smart service ecosystem around three core technology groups: Cyber-Physical Systems (CPS), Big Data, and Security (CBS) [3][4] - Key areas of development include smart defense, financial taxation, smart cities, and intelligent manufacturing [3][4] - The company aims to become a leader in intelligent service construction and is currently developing a model that integrates CBS with intelligent services (IS) [3] Group 2: Smart Defense Sector - The smart defense sector includes system testing, communication, and equipment health management, which is currently underdeveloped in China [4][5] - The market for equipment health management is expected to grow significantly due to government investments outlined in the 13th Five-Year Plan [4][5] - The company plans to cover the entire lifecycle of equipment health management, from components to systems [4][5] Group 3: Financial Taxation Sector - The company aims to become a leader in financial taxation intelligent services, focusing on value-added services [4][5] - The market for tax information technology has expanded due to the "Business Tax to Value-Added Tax" reform, leading to increased user numbers and market share [6][9] - In 2016, the company's tax information technology product gross margin improved due to a shift from replacing old products to acquiring new customers [6][9] Group 4: Smart City Development - The company is leveraging data-driven management to create a health service industry chain for cities [4][5] - The acquisition of Taihao will enhance the application of spatiotemporal coding technology in smart city projects [4][5] - The integration of various data sources, including public safety and finance, is a key focus for future smart city initiatives [4][5] Group 5: Market Position and Future Outlook - In 2016, the company captured approximately 40% of the new tax information technology market [10] - The company anticipates significant growth in the military equipment health management sector, with expected orders and revenue in the coming years [11] - The company is actively expanding its value-added services, including platforms for automated tax audits and self-checks based on big data [6][9]