Sunsea Intelligent (002313): Concentrating on the advantages, turning zero into the whole domestic IoT leader burst soon
This report reads: 5G has come, and it will open up the trillion-scale Internet of Things market. Sunsea Intelligent integrates advantageous businesses through smart city solutions, improves governance capabilities, and singularities are just around the corner.
Investment Highlights: Maintain “Overweight” rating and raise TP to 30.
10 yuan (+1.
5 yuan, +5.
Sunsea Intelligent Performance Express shows that the company’s 2018 total operating income was 47.
6.6 billion (+59.
41%), net profit attributable to shareholders of listed companies.
5.5 billion (+51.
44%), basically in line with market expectations.
According to the long-term good news of the performance report 深圳桑拿网 and the company’s product strategy upgrade, we lowered our 2018 profit forecast and raised our 2020 performance forecast. It is expected that the EPS for 2018-2020 will be 0.
15 yuan), 0.
(07 yuan); refer to the principle of lowering comparable estimates and EVA estimates, giving 35 times the estimate for 2019 with a target price of 30.
Benefiting from the accelerated construction of 5G, the outbreak of the IoT industry is expected.
5G is the key to the interconnection of all things. The core of the 5G R17 standard to be released in 2020 is the Internet of Things.
With the announcement of the investment plans of the three major operators in 2019, the 5G construction cycle has arrived and the business plan progress continues to exceed expectations.
As the most important 苏州夜网论坛 application scenario of the 5G era, the Internet of Things industry has a huge market space and an explosion is expected.
Take the new smart city solution as the axis, integrate the company’s cloud + end + middleware advantages, and leverage the trillion-level market.
According to the plan of the Ministry of Industry and Information Technology, the scale of the domestic Internet of Things will exceed 1 in 2020.
5 trillion, M2M connections exceeded 1.7 billion.
Sunsea Smart has formed a cloud + end + middleware product model since it acquired Xinxuntong, Longshang Technology, and shares in Ayla IoT.
The timing of the layout is another irreplaceable company in the Chinese Internet of Things market.
In 2018, the company will use new smart city solutions as its axis to strengthen and upgrade its business model and achieve sales in Shanghai, Yan’an, Beijing and other cities. In the future, it will become an important force for continued growth of the company.
The synergy effect of mergers and acquisitions did not meet expectations, and the company’s traditional business segmentation accelerated.