Old companies that have been deeply involved in the industry for decades have accumulated more technology and landing ability; On the other hand, it also has a deeper understanding of the industry. Under the first-Mover advantage, when the east wind blows in the industry, it is easier for old enterprises to ride the wind. At this stage, many industries are welcoming information innovation, and many established enterprises have also seized the opportunity. For example, Far Light Software, a leading enterprise in electric power informatization, has long provided information products and services for enterprise management in the energy industry. At this stage, the wave of power informatization and green power trading has been seized, and a new growth curve of energy Internet has been opened. Qian Fang Science and Technology, which has been deeply involved in intelligent transportation/KLOC-0 for more than 0/0 years, has served nearly 2,000 large-scale intelligent transportation projects. In 2020, the company released Omni-T, a global transportation solution, and began a platform-based transformation to create a sustainable charging business model.
Second, over the years, we have cultivated a solid foundation and paid attention to "old" companies with low valuation and high quality.
With the opening of science and technology innovation board, the computer industry has nurtured a number of specialized and innovative enterprises, but the market has ignored the opportunities brought by the low valuation of "established" companies. Among them, Qian Fang Science and Technology achieved steady growth in revenue and profits with the help of dividends brought about by platform transformation and business model change; Dahua Co., Ltd. transformed into a smart IOT solution provider, actively deployed innovative businesses such as software platforms and AI, and realized the rapid development of To B business. Judging from the valuation, the corresponding price-earnings ratios (TTM) of Qian Fang Science and Technology and Dahua Co., Ltd. are 26.7 times and 19.7 times respectively, which are significantly lower than the computer (Shenwan) index of 52. 1 times. Low valuation superimposed on high-quality fundamentals, or ushered in a new round of opportunities.
Third, after years of industrial transformation and expansion, "established" companies may usher in a wave of spin-off and listing of subsidiaries.
In the process of their own development, the established enterprises that went public earlier have experienced the expansion and transformation of their main businesses, and many of them have achieved value remodeling by setting up high-quality subsidiaries. Iflytek plans to spin off its subsidiary, Iflytek Medical, and list in Hong Kong, raising about HK$ 3.9 billion. With intelligent medical assistant as the core product, Iflytek Medical has improved the electronic medical record system of primary hospitals through various input methods such as voice, template and medical intelligent recommendation, and assisted the general diagnosis and treatment of 1000 common diseases, and its performance has increased by more than three times in the past three years. As a solution provider of intelligent rail transit and smart city, Du Jia Science and Technology has invested in many subsidiaries, such as Congyun Technology and Zhonghe Technology, which is expected to form business synergy in the field of artificial intelligence and rail transit in the future and enhance the company's technical strength.
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