Digital currency + national asset cloud + domestic software!The only company in A-share market, the IT coverage rate of national insurance exceeds 96%
Today, the company is the absolute leader of the insurance IT industry.Among 88 domestic property insurance companies, 86 are corporate customers, and among 91 domestic life insurance companies, 88 are corporate customers, with a comprehensive market coverage rate of more than 96%.And the company’s stock price, after the continuous adjustment after listing, has returned to the listing starting point near, and has been horizontal consolidation for 74 weeks.Take a look at the company’s industry position and competitive advantages, first of all, the company software belongs to service industry, the company’s main business is the industry application software development as the core, set the independent development of the industry general software products, network information security software products, large-scale network application software platform, middleware software products and applications at an organic whole,Business covers application software, support software, system integration and other application levels, with large-scale, engineering software development strength, can provide customers with large-scale industrial application solutions.In the industry, the company’s EARNINGS per share ranked 13th in the third quarter of 2021. Attached are the top 12 companies in the industry in terms of earnings per share for your reference.The company is deeply engaged in the field of insurance informatization. 24 years ago, the company developed the first large-scale application system of complete insurance management “Insurance Business Integrated Management Information System”, which has become the core software product of the company so far.Company’s core competitiveness lies in the company is absolutely leading in the field of insurance coverage, by the end of 2020, the company provides services of domestic insurance company customer number up to 176, 87 of 88 domestic property insurance company customers for the company, including 68 property insurance companies use the company independent research and development of the insurance core business systems;Among the 91 domestic life insurance companies, 89 are our customers, and 73 of them adopt the core business system of life insurance independently developed by the company.At present, the company’s income in the field of insurance informatization accounts for about 50% of the total income, ranking firmly as the leader in the field of insurance informatization in China, and its core economic indicators also maintain a steady growth rate of more than 20%.In terms of digital currency, the company pays attention to the integration and implementation of digital currency application scenarios, mainly involving the application and integration of digital currency.After reading the advantages and highlights of this company, we can roughly understand that this company belongs to the software service industry, and it is responsible for cloud computing, information security, domestic software, big data, digital currency and other concepts.So what is the underlying texture of a company?Let’s first look at the growth of the company. From the main financial statements in the company’s financial statements, we can see that the company’s operating revenue increased year by year for five consecutive years from 2016 to 2020, from 3.9 billion in 2016 to 5.7 billion in 2020, with a total growth rate of 46%.In the equivalent of five years, the company’s business has grown by nearly half.As the company’s business has grown, has it made more money over the past five years?From the perspective of the company’s net profit deducted from non-recurring income, that is, the main profit deducted from non-recurring income, the company’s net profit increased year after year from 2016 to 2020, from 197 million yuan in 2016 to 466 million yuan in 2020, an increase of 137%.In terms of numbers, the company’s earnings have more than doubled in five years, while its operating income has increased by less than half. Why?Let’s take a look at the profitability of the company. From the profitability index in the company’s financial statements, we can see that, first of all, the company’s operating gross margin has increased from 21% in 2016 to 28% in 2020.This means that, in the company, on the basis of constant cost, the company’s product price is getting higher in those five years, at the same time, the company’s net profit margin in this five years, also appeared a certain degree of growth, rose from 5% to 8% in 2020, the company’s revenue grew by less than 50%, but the company’s profit has increased by more than 100%, this is because,The company makes more and more money with each sale of its product.Profitability is stronger than it was before.So, what is the company’s current financial position and liquidity?In terms of the company’s solvency index, the company’s debt ratio has decreased from 75% in 2016 to 61% in 2021, and the debt has decreased to a certain extent in these five years.In terms of the company’s liquidity, as the company’s debt ratio declined, the company’s liquidity also improved to a certain extent in the past five years. In 2016, for every 1 yuan of current liabilities, the company had 1.27 yuan of current assets.By the third quarter of 2021, the company had 1.57 yuan of current assets for every 1 yuan of current liabilities.Finally, take a look at the company’s cash flow situation, because such a IT niche bibcock company, normal, should be a very good cash flow situation, so as to reflect the company’s leading position, from the company’s earnings in the cash flow statement, we can see that the cash flow of the company from 2016 to 2020,Is a shock up state, operating cash flow overall growth trend.The downside is that in the third quarter of this year, the company’s cash flow was negative, on the one hand, because the software industry’s cash flow settlement is generally at the end of the year;On the other hand, because of the growth of business volume, for daily procurement, pay and other production and management activities of cash expenditure growth caused by.So, the key or want to see this year’s annual report operating cash flow situation.This company is listed in A shares of 603927, Soft.