Shanghai Guao Electronic Technology (SZ:300551)2022-12-04 09:04Group 1: Technology and Market Position - The technology barrier for cash sorting machines is high, requiring 18 identification technologies including UV, infrared, and image recognition, with a speed requirement of 750 notes per minute and a zero tolerance for counterfeit notes [3] - The domestic competitive landscape includes listed company Julong Co., which is a formidable competitor [3] - The company has a significant order volume this year, with major banks like ICBC, CCB, and ABC winning bids for full-system cash sorting machines [4] Group 2: Product Specifications and Lifecycle - The company offers various models of cash sorting machines, including 1, 2, 3, 4, 6, and 8-pocket versions, as well as integrated and conveyor models [4] - The maximum usage period for cash sorting equipment is regulated by the central bank to be 5 years [4] Group 3: Market Trends and Adaptation - The cash sorting machine market is not saturated, and there is ongoing demand as banks continue to require these devices [5] - The company has made significant R&D investments in recent years, launching smart banking products such as card issuance and bill processing machines [5] Group 4: Software and Procurement - Most of the company's software is embedded and developed in-house for devices like cash counting machines and self-service equipment [5] - Banks typically conduct tenders every 2-3 years, with some banks holding annual tenders [5]