GuangDong YunTong (002152): AI Transformation Scenario Is King, Digital Currency Accelerates Catalysis

GuangDong YunTong (002152): AI Transformation Scenario Is King, Digital Currency Accelerates Catalysis

The company uses its own endowment to transform AI to develop five major business groups, and establishes unique barriers to specific scenarios of smart finance.

  The implementation of digital currency in the future is expected to accelerate the intelligent transformation of bank outlets and help accelerate the company’s business growth.

  The first coverage is given an “overweight” rating with a target price of 12.

72 yuan.

We estimate that the company’s net profit attributable to its parent in 2019-2021 will be 7, respectively.

69, 10.

16, 13.

00 ppm, corresponding EPS is 0.

32, 0.

42, 0.

54 yuan.

Considering PE and EV / EBITDA together, the target price is 12.

72 yuan, for the first time, give “overweight” rating.

Seize the opportunity of the rapid development of smart finance and focus on specific scenarios for bank intelligent branch conversion.

The company is a leading company in the domestic financial intelligent equipment industry. Based on its strong ATM network, the company aims at the general trend of transformation and transformation of traditional banks, and transforms into an overall solution provider for bank intelligent outlets.

The preliminary digital currency is expected to accelerate the implementation, and promote the transformation of bank outlets.

The 北京养生会所 preliminary dual-layer operation system and dual offline payment methods of digital currencies may cause important changes in the currency issuance system and payment clearing system.

The acceleration of digital currency aims to accelerate the intelligent transformation of intermediate bank outlets, the rapid growth of the company’s smart financial business, and solidify the company’s leading position in the field of smart finance in the long run.

The five major business groups continue to make efforts, and the transformation has produced significant results.

The company shifted its strategic focus to artificial intelligence solution providers, focusing on the four major application scenarios of smart finance, smart transportation, smart security, and smart convenience, and promoted the development of overseas business groups. Currently, it has launched a variety of innovative smart terminal equipment and integrated solutions.Revenue from various businesses has steadily increased, confirming that AI transformation performance is significant.

Risk reminder: the progress of digital currency promotion is less than expected, industry competition is intensified, and the impact of the epidemic is aggravated