Event description Jiafa Education releases 2023 Annual reportSlotsempireThe company achieved operating income of 6% in 2023Slotsempire. 400 million yuanSlotsempire, up 46% from a year earlierSlotsempire.47%; realized net profit of 131 million yuan, an increase of 90.05% over the same period last year; realized net profit of 127 million yuan, up 81.15% over the same period last year; and realized net operating cash flow of 180 million yuan, an increase of 72.35% over the same period last year. The construction of standardized examination rooms for event comments has returned to the high growth cycle, with a high performance increase in 2023. In 2023, the company achieved an operating income of 604 million yuan, an increase of 46.47% over the same period last year, and a net profit of 131 million yuan, an increase of 90.05% over the same period last year. From a business-by-business point of view, revenue from standardized educational examination sites and overall solutions reached 421 million yuan, an increase of 69.58% over the same period last year. As a new increment in 2023, the security gate has led to a high increase in the business of standardized test sites for educational examinations. In 2023, the Ministry of Education held a national video conference on the security of the entrance examination of ordinary colleges and universities, and proposed to prevent mobile phone cheating as the top priority of the security of this year's college entrance examination, so that the mobile phone "can not be brought in", "can not be used" and "cannot be spread". To further defend the "main position" of the examination room security, the "231" entrance security check mode has become a new mode of the college entrance examination. On the basis of the upgrading and supplement of the original products, the company launched the solution of Shouzheng intelligent security gate, which was deployed and landed in the college entrance examination and university graduate examination in many provinces and cities, and the business returned to the high growth cycle. Smart education business low penetration big market, AI can bring a new round of growth curve. The company's intelligent education products and overall solutions achieved revenue of 117 million yuan in 2023, an increase of 19.29% over the same period last year. In 2023, the company upgraded its wisdom education products and launched "AI solution for Science and Chemical experiment", "AI solution for physical Education", "AI solution for English computer examination" and other new products. The company fully embraces AI and simultaneously completes the release of Lingu education model and AI series products. At present, Lingu has 10 billion-level parameters, and through the special data in the field of education, it has completed the second pre-training of 10 billion-level Token training data, and fine-tuned the special scene of 10-billion-level Token instruction data. driven by the "AI+" education strategy, the company has comprehensively upgraded its own product matrix, which is expected to further infiltrate new scenes and bring more space for growth in the future. As the pioneer of domestic education informatization, the company has won the praise of customers in the industry with its perennial high-quality and stable product delivery. The company is the earliest enterprise engaged in intelligence examination business in China, and has formed its own brand advantage in the industry. In 2023, the company ushered in a performance inflection point, and AI helped to drive the transformation of the company by promoting new business and new products. It is estimated that the revenue of the company in 2024 and 2026 is 1.368 billion yuan, respectively, and the net profit of returning to the mother is 1.80 million yuan, 244,314 million yuan, respectively, and the corresponding PE is 27-20-15 times. Give a "buy" rating. Risk tips 1, the landing of the policy is not as expected; 2, the product progress is not as expected. [disclaimer] this article only represents the views of a third party and does not represent the position of Hexun. Investors operate accordingly, at their own risk.
[disclaimer] this article only represents the views of a third party and does not represent the position of Hexun. Investors operate accordingly, at their own risk.