Tide information: Solving

Why are not allowed the candy shoppe to draw the Prophet of Islam?
Chinese Academy of Sciences recommended the strengthening of the strategic focus of the layout of big data technology, etc. With the financial crisis, countries have to revive their hopes on a revolutionary breakthrough in technology the candy shoppe and speed up the forward-looking layout, how to deal with China? Chinese Academy of Sciences recently released "New technology development trend and strategic choice for 2020" report, gives his own advice: in large data scientific the candy shoppe platform, stem cells and regenerative medicine and other fields to meet the needs of major national direction, our country the candy shoppe may to achieve major breakthroughs in the field of science and technology in the field of science and technology as well as major world events that may occur to accelerate the candy shoppe or enhance major scientific layout. Big Data concept stocks are expected to usher in the outbreak of the 10 stocks Comments: Easy Lianzhong Deep Research Report: Social Security IC card is expected to restart growth, information machine promotion anticipated Category: Research institutions: Xiangcai Securities Co., Ltd. Researcher: IN TRADITIONAL Date: 2012- 12-21 social security IC card 13 years is expected to restart growth: in 2012 as a result the candy shoppe of Anhui, Hunan, Guangxi and other provinces, social security IC card start slower than expected, and in the first half by issuing new standards affect the progress of Shanxi and other provinces are also slower than expected. We expect that as Anhui, Hunan, Guangxi the candy shoppe and other provinces have started bidding IC card, the company for 13 years in the field of social security IC card will achieve good growth in 2013 is expected to be close to issuing 20 million amount. Department who began to promote the information machine, next year to look forward to: June 1, 2012, Jinbaogongcheng a project successfully passed the final acceptance. July 5, 2012, Human Resources and Social Security held a second phase of the project work Jinbao mobilization. Ministry of Human Resources and Social Information Center has started in the country to promote human resources and social security at the end of October the self-service the candy shoppe machine. The company has passed the pilot in Wuxi acceptance elsewhere Chengdu is also a pilot, the company has first-mover advantage in the development and promotion of information machine, is expected to give priority to benefit. Hospital kiosk extensive layout: the company's hospitals can achieve self-registration kiosk payment and other functions, has been widely used in many hospitals in Xiamen. The company is currently in the country established eight regional sales offices, and HIS vendors through a variety of channels the candy shoppe to promote. 13 years is expected to achieve a breakthrough in some cities. Mining card users a number of advantages, the candy shoppe layout public services: the company currently has 40 million users of the social security IC card, the number is expected to billions of dollars in 2015, the future worth looking forward to the livelihood of these users around the mining services market. The company the candy shoppe worked with IBM cloud construction Fujian livelihood, mainly for community hospitals to provide medical systems Fujian cloud services. Mid-level short-term the candy shoppe business location, layout the candy shoppe sustained growth: the company's IC card, information and public services corresponding the candy shoppe machine short, medium, long-term main source of profit in the next 3-5 years will be the rapid development of information machine business, and soon became The main source of profit for the company. IC card issuers in 2015 after entering the main stage to the issuance of a replacement, the information will also be stable machine business development, the company will focus on fostering the development of public services business, the layout continues to grow. Valuation and Recommendation: We expect the company's 2012 profit fell 40.8%, EPS0.30 yuan; 2013-2014 due to the IC card issuers restore growth promotion, as well as information machine, performance the candy shoppe will be significantly increased, 13 and 14 years of EPS were 0.43 yuan, 0.58 yuan. We initiate coverage with the company "overweight" rating, 6-month target price of 11.2, corresponding to 2013 PE26 times. Focus concerns the stock catalyst (positive): Major Orders the candy shoppe bid; target provinces to promote social security IC card acceleration Risk Warning (negative): the promotion of social security IC card as fast as expected; the promotion of information machine is less than expected, Wanda Information 2012 Annual Report and 2013, a quarterly review: start a continuation of high growth, buy into a hot area Category: Research the candy shoppe institutions: Minsheng Securities Co., Ltd. Researcher: Yin edge technology, Ulrich Date: 2013-04-22 Annual Letters slightly different the candy shoppe results, mainly due to audit the use of more discrepancies in revenue recognition criteria for strict fundamental reason is not due, we judge largely adopted a more rigorous audit of revenue recognition standards. According to the cash flow to determine the actual growth the candy shoppe of the company is still very optimistic: 2012 sales of goods or services received in cash for 923 million, an increase of 41 percent, the history of this index were associated with slightly lower revenue and earnings closer ; net cash flow from operating activities reached 60.97 million, is 3.98 times last year, the highest level in nearly three years. 2013 limited new development spending, has been transferred the candy shoppe to the beginning of amortization the candy shoppe of intangible assets at the end of 2012 to reduce development costs 91.76 million yuan compared to the third quarter, amortization of intangible assets have been transferred. 122 million of intangible assets at the end of 2012, of which 106 million over five years for software the candy shoppe amortization. The company raised investment projects capitalized R & D expenditures total 196 million, 159 million have been completed in 2012, which will add 36.45 million in 2013. 2013 a quarterly Added 14,650,000 in the second quarter continue to add pressure on already very small. The continuation of high growth trend in the first quarter, did not form a large cost pressure in the first quarter for the company's traditional Spring Festival season and there, but still achieved rapid revenue growth: the candy shoppe 1) by the fourth quarter of 2012, "eighteen" affected to some project delays 2013, with the overall progress of such business in the first quarter. the candy shoppe 2) After the new government personnel changes led to the wisdom of the city overall increase investment, the company distributed in various the candy shoppe segments, the most benefit. We expect orders from May to June will form a peak. A quarter have begun to develop amortization expenses, did not form a greater pressure on costs, future cost pressures as the expansion of the revenue base will continue to decrease. Acquisition of Sichuan Haut safe city to expand communication and intelligent transportation and intelligent transportation safe city currently is the largest local government investment in smart city construction segments, the company has successfully cut through acquisitions. On the one hand the formation of customer resources the candy shoppe complementary advantages: Haut communication has a strong customer base in Sichuan Province, in the calendar year, "Skynet" in both the construction bid. On the other hand the formation of complementary technologies: Wanda and software platform a significant advantage, Haut communication has advantages in terms of control and integration, and is located in Sichuan artificially cheap. Haut Communications the candy shoppe 2013 Annual 1 to March orders in hand, about 110 million, is expected to 2013-2017 annual the candy shoppe main business income and net average annual growth rate of not less than 35%. Acquisition of PE is about 14X, despite the higher prices, but subsequent communications Haut adequate business confidence. Significant improvement in gross margin, expense ratio increased slightly in 2012 the company's actual gross margin (reduction camp changed to increase) reached 34.8%, compared with 4.3 percent a year earlier upgrade. The company carried out by the national the candy shoppe business the candy shoppe to achieve the economies of scale, future gross margins will continue on an upward path. Management fees was 13.3%, up 1.8 percentage points over last year; cost of sales was 4.2% was essentially flat. Ultra Software: GIS product sales lower than expected, the new product market expansion remains to be seen Category: Research institutions: Shanxi Securities Co., Ltd. Researcher: Goofy Date: 2013-04-18 Event Analysis: GIS product sales lower than expected, R & D management costs continue to increase. More than 90% of its revenue from government departments, therefore, the candy shoppe the macroeconomic downturn, information technology budgets of government departments affected, resulting in the company GIS product sales revenue lower than expected; in 2012, the company increased cloud GIS, mobile GIS-related products R & D investment, research and development the candy shoppe costs compared to last year increased by 10,650,600 yuan; company management fees rose by 18.65%. Comprehensive variety of factors, a sharp decline in net profit. GIS-related products released in stages, to become the new Aspect growth for the company. In 2012, the company released a full-featured mobile GIS products SuperMapiMobile professional GIS development platform, launched a full range of 64-bit server GIS products. Basically completed the layout of the mobile GIS system, basic products and services of high-end GIS engine and complete cloud terminal, forming a new generation of information technology for a new pattern of GIS platform, these technological advances and breakthroughs, for the company's future business growth lay foundation. Earnings forecasts and investment advice: give the company "neutral" investment rating. GIS increasingly competitive field, the company the candy shoppe R & D investment and labor costs continue to rise, and the new product is difficult to produce a relatively short time benefits. We expect 2013-2015 EPS was 0.17 yuan, 0.20 yuan and 0.24 yuan, 9.63 yuan to the current share price corresponding the candy shoppe to 57 times, 48 times and 40 times PE value, the candy shoppe maintain the company "neutral" investment rating. Risk Warning: Some of the major IT companies take information technology projects such as BT or BOT model, upfront capital advance by the enterprises themselves, the candy shoppe the customer's payment will be paid in installments. Therefore, there is a long account of the risk of increasing the difficulty the candy shoppe of collection wing of the Alliance depth research report: the acquisition of car network the candy shoppe interconnection, turned the car networking scarcity of quality targets Category: Research institutions: Haitong Securities Co., Ltd. Researcher: Mei wind, Jiang Branch Date: After successive 2013-06-08 business listing through acquisitions to fill gaps, front desk operations class enter the market. Car networking market with a bright future, is expected the candy shoppe by - gradually to the "car people" connected "car - car", "car - road" the candy shoppe development, business networking the candy shoppe company car market strategy clear, strict commitment to performance incentives the candy shoppe in place. As the scarcity of high-quality car networking target, the company is expected to enjoy a higher long-term valuation. Car networking the candy shoppe prospects, the development is only "car - people" Internet market. Teematics market involves only "car - people" Internet section, along with the deepening of the construction of intelligent transportation systems, increased penetration of road sensors, "car - road", "car - car" Internet will gradually become possible. the candy shoppe Automatic driving, the ultimate goal is the liberation of the human hands car networking. At present, Chinese car networking market is still its infancy, may usher in 2015 after the outbreak, the market is not less than the mobile Internet, is expected to reach more than 150 billion. Extensive expansion of business the candy shoppe operations class applications to fill the gaps. Original wing of the Alliance is to provide business and medium-sized enterprises, data center systems integration and technical services, growth is more stable, with the improvement of technical services revenue accounted for, the gross margin on the rise. The company is involved in the original room environment, IT infrastructure, applications software management support classes, after listing a series of acquisitions to fill gaps in its business operations class software applications, and market operations into the foreground. Car network interconnection long position the candy shoppe in car networking the candy shoppe platform software operators. Car network interconnection revenues from industry platform software development and in-vehicle information terminal sales. Industry development, the company in logistics management, car rental companies, car testing, official vehicles, construction machinery and other fields has accumulated a series of industry application cases. Vehicle the candy shoppe information the candy shoppe terminal, the company and the Guangzhou Honda and Dongfeng Honda, vendors, sales through B2B2C mode iPND, iOBD intelligent terminals. Acquisition strict performance commitments, incentives in place. Acquisition plan announcement, car network interconnection commitment 2013-2016 net profit reached 6276,8312,10910,13733 million, four-year CAGR33.3%, and make a comprehensive operating cash flow and other constraints. As four years beyond the 110% commitment the candy shoppe to the overall profit margin, will start the subsequent the candy shoppe acquisition of the existing shareholders have better the candy shoppe incentives. The company turned the car networking scarcity of quality targets, is expected to enjoy a higher long-term valuation. Assuming the acquisition is completed during the year 2014, the company owned by the parent net profit is expected to reach 200 million yuan or more, about one-third from the car network interconnection. Compared to other car networking targets, the company's performance and security, positioning more emphasis on operational aspects of the software, if the car broke out as scheduled networking market, the company is expected to enjoy a higher long-term valuation. First time to "overweight" rating, target price 16.50 yuan. Assuming the company at the end of the third quarter of 2013 to complete the acquisition of the car network interconnection, 2013 and the last quarter of the table, then we expect the company 2013 to 2015 EPS was 0.33 yuan, 0.55 yuan and 0.74 yuan. Step by step in accordance with the valuation method and the overall valuation method, we consider a reasonable price range of 14.60 ~ 16.50 yuan company, for the first time to give an "overweight" rating, 6-month target the candy shoppe price of 16.50 yuan, corresponding to about 30 times 2014 earnings. The main uncertainties. Ability to obtain or complete the acquisition the candy shoppe by the expected time lag; car network interconnection performance promise can be fulfilled; car networking market is in its infancy fierce competition, the business model is not clear; the successful integration of the management team. Section Hengsheng: high-end data center market breakthrough, to build China's manufacturing upgrades Category: Research institutions: China Galaxy Securities Co., Ltd. Researcher: Wang Wei Date: 2013-05-23 cloud computing, big data to promote the rapid construction of data centers, Branch achieve breakthroughs in high-end the candy shoppe data center infrastructure products, domestic demand the candy shoppe is currently planning the construction of the scale of investment IDC IDC is equivalent to five times the stock, stimulate UPS power supply; according to ICTResearch partial robust 10% CAGR, 2016 related to the market space 22 billion yuan . Branch location "data center infrastructure solutions provider," in large data center market to break foreign monopoly advantage and achieve breakthroughs in high-end. Even in 2016 accounted for 10% market share in the data center, there are more than two times the growth. UPS power system recovery in downstream demand, import substitution UPS power system needs a large space by operators, transportation and other industries the candy shoppe increase investment-led recovery, the communications industry, the candy shoppe the new 4G wireless network investment benefit, 3G expansion rebounded sharply, UPS power system demand is expected the candy shoppe to record high; orbit transportation, railway construction investment the candy shoppe 13 annual rally, driven by demand for UPS power system supporting. Ten billion UPS power systems market, foreign (Emerson, Schneider, Eaton) occupy more than 60% share of 80% in power for relatively high-end products, based on the research and development strengths accumulated Branch comparative advantage in high-power products, UPS power supply the candy shoppe domestic market share ranked fourth, the first domestic enterprise, import substitution large space. Transformation solutions provider to "Emerson Network Power" as a benchmark, large family room for growth Hengsheng the candy shoppe 25-year-old fifth jump, UPS power supply market and growth in import substitution, the solution is based on high-end power, data centers, new energy the candy shoppe program "Two Wings" product system layout, the transition to solution providers, target market space and market competitiveness rapidly. Domestic product system the candy shoppe and the characteristics of a similar business model, "Emerson Network Power" as a benchmark, the latter the candy shoppe for 12 years in China revenue 6.7 billion, seven times the Branch Hengsheng, Branch, room to grow big. Valuation and investment advice 2013 ~ 2015 EPS of 0.67 / 0.88 / 1.13 yuan (based on gross margin is expected to improve the candy shoppe slightly improve earnings forecast by 6%), the current stock price corresponds to 2013 to 2015 times the dynamic PE of 21/16/13, the next three years net profit CAGR of 39.5%, based on the company's the candy shoppe growth and breakthroughs the candy shoppe for large data centers high-end market, a reasonable valuation of 30 times PE, given the "Recommended" the candy shoppe rating.
Tide information: Solving