On the evening of April 17, Taiji Co., Ltd. (002368. SZ) released its 2023 annual report. According to the data, the company achieved an operating income of 9.195 billion yuan, a net profit attributable to the parent company of 375 million yuan, and a net profit of 342 million yuan, a year-on-year increase of 3.06%. The gross profit margin increased by 3.32 percentage points over the same period of last year, and the net profit margin increased by 0.68 percentage points over the same period of last year.
Source: Company announcement
It is understood that Taiji, as a leading enterprise in domestic e-government, smart city and key industry informatization, mainly provides information system construction, cloud computing, big data and other services for government, public security, national defense and enterprises.
Under the guidance of the core strategy of "Data-driven, Cloud-Led Future, and Cyber Security", the company continues to promote strategic transformation and form four major business systems: cloud and data services, autonomous software products, industry solutions, and digital infrastructure. While doing better and stronger in the main business, in recent years, the company has also been actively planning innovation and transformation, adhering to the development strategy of "one body and two wings", continuing to promote the strategic layout in the fields of basic software and data elements, helping the digital upgrading of government and enterprises, and contributing Taiji wisdom to the development of the data industry.
Empower the digital transformation of governments and enterprises
Build a full-chain layout of the basic software industry
With the in-depth development of a new round of scientific and technological revolution and industrial transformation, the digital economy has gradually become a "stabilizer" and "accelerator" of the national economy. In recent years, the state has attached great importance to the development of the digital economy, and has successively introduced a series of policies and measures to continuously optimize the top-level design, institutional mechanism and institutional environment of the digital economy.
In 2023, the "Overall Layout Plan for the Construction of Digital China" proposes to cultivate and expand the core industries of the digital economy, promote the deep integration of digital technology and the real economy, and accelerate the innovation and application of digital technology in key areas such as agriculture, industry, finance, education, medical care, transportation, and energy.
Focusing on the construction of digital China, relying on the core products of Xinchuang and relying on years of service experience in the party and government, public security, enterprises and other industries, Taiji Co., Ltd. helps the digital transformation of the industry and further promotes the Xinchuang to move towards key markets, key customers and core application scenarios.
Specifically, in terms of the core products of Xinchuang, Taiji Co., Ltd. has laid out an independent product system including Puhua operating system, Jincang database of the National People's Congress, Kingdee Tianyan middleware, Huidian Technology office software, and Fazhiyi contract legal software. It also took the lead in the establishment of CETC Information Innovation Engineering Research Center, and the independent and controllable industrial ecosystem has been increasingly improved.
In the party and government market, the company's first "one cloud and multiple cores" information innovation government cloud has landed in Tianjin, and has set a benchmark for the transformation and upgrading of the national government affairs cloud through the classified protection level 3, national secret evaluation and cloud computing security assessment of the Central Cyberspace Administration of China.
From the perspective of core application scenarios, Renmin Jincang, a subsidiary of Taiji Co., Ltd., focuses on core product research and development and market layout of key industries, and successfully won the bid for the core business systems of industry customers such as the legal informatization project of the Supreme People's Court and the Beijing municipal transportation all-in-one card clearing and settlement system, accelerating the implementation of typical application scenarios of information and innovation. According to the "2022-2023 China Platform Software Market Research Report" released by CCID Consulting, the sales volume of the Jincang database of the National People's Congress ranks first in the petroleum and petrochemical and transportation industries.
The annual report shows that in 2023, Renmin Jincang will achieve an operating income of 373 million yuan, a year-on-year increase of 8.38%, a net profit of 75.2373 million yuan, a year-on-year increase of 49.60%, and a net profit margin of 5 percentage points over the same period last year.
It is worth noting that the reason why Taiji can continue to improve the independent and controllable industrial ecosystem is that, on the one hand, because Taiji is backed by China Electronics Technology Group, it is the core industrial platform of the group company's network information business, and can obtain the support and coordination of the group in terms of policy, capital, industrial resources, market and other aspects; According to the data, the company's annual R&D investment was 726 million yuan, accounting for 7.9% of the company's operating income, 35 invention patents were authorized, and 160 software copyrights were approved.
"Nuggets" data element market
Continue to optimize the "cloud + data + application" service system
Data is an important resource in the process of digital transformation. Therefore, building a digital economy with data as the key element is an inevitable requirement for promoting high-quality development. In recent years, the state has successively released a series of documents on the construction of a data element market. Among them, the "Three-Year Action Plan for the × of Data Elements" (2024-2026) issued by the National Data Bureau proposes to give full play to the typical scenarios of the value of data elements, activate the potential of data elements, and promote the wide application of data elements in related industries and fields.
Industry insiders believe that the release of data value cannot be separated from the application scenario, and only when it is combined with the scene can data be transformed into "wisdom" to support decision-making, and the value of data can be reflected.
In recent years, Taiji Co., Ltd. has actively grasped the development opportunities in the era of data elements, continued to deepen the government cloud and government data service market, and carried out data services and scenario-based operations in the fields of government services, urban governance, public safety, cultural tourism, trade and logistics, industrial management, energy production and other fields with the "cloud + data + application" industry digital service system as the traction, so as to promote the release of the value of data elements.
According to the data, among the company's four main revenues, although the revenue of cloud and data services accounts for 11.36% of the total operating income in 2023, second to the revenue of industry solutions and independent software products, compared with the same period last year, the revenue of cloud and data services increased the highest year-on-year, reaching 37.12%.
Source: Company announcement
Industry insiders said that the market did not have enough understanding of the strategic positioning of Taiji shares before, and most of them still stayed in the company as a digital solution integrator. However, with the rapid development of the digital economy, the attributes of data production factors have become increasingly prominent, and the company's strategic positioning has also undergone a deep transformation in the direction of a digital service provider. In addition, the year-on-year increase in revenue from cloud and data services also reflects the continuous optimization of the company's business structure and remarkable transformation results.
Specifically, in the field of urban governance, based on the government cloud and directory blockchain system, Taiji Co., Ltd. has opened up all kinds of data in the digital world, such as audio, video, image and text, and realized the global data link. At present, it has successively supported the construction of Beijing urban data governance, "people-enterprise" comprehensive database, health treasure, city code and data integration projects in Tianjin, Hainan, Jiangxi, Guangxi and other provinces and cities.
In the field of government services, the company actively participates in the construction of government cloud halls in many places, creates a large guide service and small window service model, and implements a series of government cloud hall products such as government affairs map, VR navigation, digital human, intelligent form filling, remote assistance, self-service, and digital operation of the hall.
In the field of electric power public services, the company and the China Electricity Council jointly created a data space database product for the power industry, which has been actually implemented and applied on the power public information platform of the China Electricity Council. Up to now, the platform has collected data from 9 major industries, including power statistics and power technology, and created more than 1,200 CEC data reports, more than 4 million structured data and 10 application products.
With Taiji's contributions to data capacity building, comprehensive application of data and industry data governance, during the reporting period, the company won the "2023 Top Ten Famous Brand Enterprises in Data Management" award, and the city-level data management platform based on code chain integration of Beijing Big Data Center was also selected as one of the "100 Excellent Cases of Data Management in 2023".
For the strategic plan for 2024, Taiji Co., Ltd. said that the company will seize the development opportunities of emerging industries such as data elements, integrate industry solutions and digital infrastructure, and lead the digital transformation of the industry with cloud and data services and independent software products as the two wings, and strive to become a data service provider to promote the transformation and development of the company.