On June 28, Yuandao Communication (301139.SZ) opened the subscription, the subscription price was 38.46 yuan per share, and the subscription limit was 8,500 shares, which belonged to the Growth Enterprise Market, and Huarong Securities was its sole sponsor.
The company is a leading communication technology service enterprise in my country, mainly forChina Mobile、China Telecom、China Unicomand other communication operators and communication infrastructure operatorsChina Towerand communication equipment manufacturers such as Huawei and Ericsson provide communication technology services including communication network maintenance and optimization, and communication network construction.
The company has deeply integrated new technologies such as the Internet and data analysis with communication technology services, and has independently developed a comprehensive operation management system. Relying on this comprehensive operation management system, the company reasonably manages and controls core business links such as employee operations and vehicle operation in the service process, upgrades the traditional communication technology service model, and builds a “centralized” management model and a “flat” management model that is uniformly responsible for the headquarters. It can provide high-quality communication technology services in many regions of the country.
The company’s service area has covered Xinjiang, Heilongjiang, Chongqing, Hebei, Beijing and other 30 provinces (autonomous regions and municipalities directly under the Central Government). The communication technology services provided by the company effectively guarantee the security of the national communication network and provide local jobs and skills training. The company’s core customer is China Mobile, and its core business regions are the west, northeast and north China. The most advantageous business is to provide communication network maintenance services to communication operators through “group centralized procurement”.
The most prominent feature of my country’s communication technology service industry is the concentrated distribution of customers, mainly providing services for China Mobile, China Telecom, China Unicom and China Tower. Therefore, it is deeply affected by the business strategies, investment scale and procurement policies of communication operators and China Tower. . Due to historical reasons, China Mobile has undertaken a large number of mobile base station construction and maintenance work in the 2G era. It operates the largest number of base stations and has the largest investment scale over the years. It is the largest customer in the industry. By the end of 2020, China Mobile had operated 5.14 million base stations, accounting for 55.21% of the total number of base stations in the country, more than China Unicom, China Telecom and China Tower combined; according to the investment plan, China Mobile is expected to build 520,000 5G base stations and 5G capital Expenditure reached 110 billion yuan, more than China Unicom and China Telecom combined. Therefore, the industry takes the recognition of China Mobile as an important indicator to measure service quality and market position.
In terms of finance, in the past three years, the company’s operating performance has achieved rapid growth. Operating income has increased from about 753 million yuan in 2019 to about 1.625 billion yuan in 2021. The compound growth rate of operating income in the past three years has reached 46.85%; net profit has increased from 2019. 62.268 million yuan increased to about 107 million yuan in 2021.
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