bingo party

Hande Information (300170) released its 2023 annual report on April 24th. 2023HighestlotteryjackpoteverThe company achieved a total revenue of 29Highestlotteryjackpotever80 billion yuanHighestlotteryjackpotever, down 0% from the same period last yearHighestlotteryjackpotever.90%; return to the mother net profit loss of 25.3803 million yuan, profit of 438 million yuan in the same period last year; deduction of non-net profit loss of 83.393 million yuan, profit of 83.211 million yuan in the same period last year; net cash flow from operating activities was 219 million yuan, an increase of 303.06% over the same period last year; during the reporting period, the basic earnings per share of Hande Information was-0.03 yuan, and the weighted average return on net assets was-0.55%. The company's annual profit distribution plan for 2023 is to distribute 0.1 yuan (including tax) to all shareholders for every 10 shares.

During the reporting period, the company's total non-recurrent profit and loss was 58.0127 million yuan, of which the government subsidy included in the current profit and loss was 41.1035 million yuan.

Based on the closing price on April 23, Hande Information's current price-to-earnings ratio (TTM) is about 221.57 times, price-to-book ratio (LF) is about 1.16 times, and price-to-sales ratio (TTM) is about 1.89 times.

The historical quantiles of the company's recent price-to-earnings ratio (TTM), price-to-book ratio (LF) and price-to-sales ratio (TTM) are as follows:

Statistics show that Hande Information has a compound growth rate of 6.12% in total revenue in the past three years, ranking 33rd among the 70 companies in the IT services Ⅲ industry that have disclosed data for 2023. In the past three years, the compound annual growth rate of net profit was-172.83%, ranking 60exc70.

Data show that the company focuses on providing enterprise customers with information, digital construction products and solutions integrated services.

From a product point of view, in the company's main business in 2023, pan-ERP revenue was 1.066 billion yuan, down 0.59% from the same period last year, accounting for 35.79% of operating income; industrial digital-C2M revenue was 844 million yuan, up 10.25% from the same period last year, accounting for 28.33% of operating income; and financial digitization-GMC income was 683 million yuan, up 0.65% from the same period last year, accounting for 22.91% of operating income.

By the end of 2023, the total number of employees of the company was 9571, with per capita income of 311300 yuan, per capita profit of-2700 yuan, and per capita salary of 232800 yuan, which changed by 7.10%,-106.27% and 13.17% respectively over the same period last year.

In 2023, the company's gross profit margin was 26.80%, down 2.80 percentage points from the same period last year; the net profit margin was-0.81%, down 15.21 percentage points from the same period last year. According to the single-quarter indicators, the company's gross profit margin in the fourth quarter of 2023 was 17.36%, down 11.07% from the same period last year and 12.72% from the previous quarter; the net profit rate was-9.26%, down 8.71% from the same period last year and 10.73% from the previous quarter.

In terms of products, the gross profit margins of pan-ERP, industrial digital-C2M and financial digital-GMC2023 are 27.43%, 33.38% and 26.12%, respectively.

During the reporting period, the total sales amount of the company's top five customers was 341 million yuan, accounting for 11.43% of the total sales amount, and the total purchase amount of the company's top five suppliers was 201 million yuan, accounting for 26.42% of the total annual purchase.

According to the data, the weighted average return on equity of the company in 2023 was-0.55%, down 12.39 percentage points from the same period last year; the return on invested capital in 2023 was-1.40%, down 10.89 percentage points from the same period last year.

In 2023, the net cash flow of the company's operating activities was 219 million yuan, an increase of 303.06% over the same period last year; the net cash flow of fund-raising activities was 14.2519 million yuan, a decrease of 280 million yuan over the same period last year; and the net cash flow of investment activities was-631 million yuan, compared with-415 million yuan in the same period last year.

Further statistics show that the free cash flow of the company in 2023 is-57.735 million yuan, compared with-102.5723 million yuan in the same period last year.

In 2023, the cash ratio of the company's operating income is 121.32%, and the net current ratio is-861.55%.

In terms of operating capacity, in 2023, the company's total asset turnover rate was 0.51 times, compared with 0.55 times in the same period last year (the industry average in 2022 was 0.47 times, and the company ranked in the same industry 47 times 135); the fixed assets turnover rate was 8.84 times, compared with 10.92 times in the same period last year (the industry average in 2022 was 10.93 times, and the company ranked 58pm in the same industry). The company's accounts receivable turnover and inventory turnover are 2.44 and 7.98 respectively.

In 2023, the company's period expenses were 814 million yuan, an increase of 110 million yuan over the same period last year, and the period expense rate was 27.32 percent, an increase of 3.91 percent over the same period last year. Among them, sales expenses increased by 49.58% over the same period last year, management expenses increased by 6.7% over the same period last year, R & D expenses increased by 9.12% over the same period last year, and financial expenses increased from 4.7359 million yuan in the same period last year to-20.117 million yuan.

In terms of major changes in assets, by the end of 2023, the company's intangible assets increased by 62.57% over the end of the previous year, accounting for 5.02% of the company's total assets; development expenditure decreased by 46.27%, accounting for 3.32% of the company's total assets; accounts receivable decreased by 10.16% compared with the end of last year, accounting for 2.73% of the company's total assets Fixed assets increased by 47.13% over the end of last year, accounting for 2.04 percentage points of the company's total assets.

In terms of major changes in liabilities, by the end of 2023, the company's short-term borrowing decreased by 9.52% compared with the end of last year, accounting for 0.88% of the company's total assets; other payables (including interest and dividends) increased by 79.81% over the end of the previous year, accounting for 0.54% of the company's total assets; accounts payable increased by 105.55% over the end of the previous year, accounting for 0.45% of the company's total assets The salary payable to staff and workers increased by 10.12% over the end of last year, accounting for 0.29 percentage points in the company's total assets.

From the perspective of inventory changes, by the end of 2023, the book value of the company's inventory was 297 million yuan, accounting for 6.13% of the net assets, an increase of 47.4297 million yuan over the end of last year. Among them, the stock price reduction is prepared to be 46.3294 million yuan, with a provision proportion of 13.49%.

For the whole of 2023, the company's R & D investment was 452 million yuan, an increase of 3.16% over the same period last year; R & D investment accounted for 15.16% of operating income, an increase of 0.60% over the same period last year. In addition, the capitalization rate of the company's annual R & D investment is 48.71%.

In terms of solvency, the asset-liability ratio of the company at the end of 2023 was 18.61%, down 13.33 percentage points from the end of the previous year; and the interest-bearing asset-liability ratio was 6.74%, down 15.15 percentage points from the end of the previous year.

In 2023, the current ratio of the company is 3.47 and the quick ratio is 3.18.

According to the annual report, among the top 10 circulating shareholders of the company at the end of 2023, the new shareholder is the employee stock ownership plan of Shanghai Hande Information Technology Co., Ltd.-2023, replacing the new trend of Chinese businessmen at the end of the third quarter to optimize the flexible allocation of hybrid securities investment funds. In terms of specific shareholding ratio, the shareholding of hybrid securities investment funds has increased in the flexible allocation of technological innovation. Fan Jianzhen, Hui Tian Fu Fund Management Co., Ltd.-Social Security Fund 17022 portfolio, Hong Kong Securities Clearing Co., Ltd., Hui Tim Fu Fund Management Co., Ltd.-Social Security Fund 423 combination, Chen Diqing, Hui Tim Fu Private dynamic mixed Securities Investment Fund, Shanghai Hande Information Technology Co., Ltd. Buyback special securities account, Shi Shengli's shareholding has declined.

In terms of chip concentration, by the end of 2023, the total number of shareholders of the company was 74400, down 4785, or 6.04%, from the end of the third quarter; the value of stock market holdings per household dropped to 109900 yuan from 111900 yuan at the end of the third quarter, a decrease of 1.79%.

Indicator Notes:

Price-earnings ratio

= total market capitalization / net profit. When the company loses money, the price-to-earnings ratio is negative, so it is of no practical significance to use the price-to-earnings ratio or the price-to-sales ratio as a reference.

Price to book ratio

= total market capitalization / net assets. The price-to-book ratio valuation method is mostly used for companies whose earnings fluctuate greatly and their net assets are relatively stable.

Market sales ratio

= total market capitalization / operating income. The valuation method of price-to-sales ratio is usually used for growth companies that are losing money or making small profits.

In this paper, the price-to-earnings ratio and price-to-sales ratio are calculated by TTM, that is, based on the 12-month data up to the latest financial report (including forecast). The price-to-book ratio is calculated on the basis of LF, which is based on the latest financial report.

When the price-to-earnings ratio is negative, the current quantile is not displayed, which will lead to the interruption of the line chart.

(article source: China Securities News, China Securities Network)