Hypermap software (300036) released the 2023 annual report on April 15. In 2023, the company achieved a total revenue of 19.Slotking69bonus7.9 billion yuan, an increase of 24% over the same period last yearSlotking69bonus.00%Slotking69bonusThe net profit was 152 million yuan, reversing losses compared with the same period last year; deducting 111 million yuan from non-net profits, reversing losses compared with the same period last year; the net cash flow generated by operating activities was 55.6443 million yuan, compared with-116 million yuan in the same period last year; during the reporting period, the basic earnings per share of super-map software was 0.3092 yuan, and the weighted average return on net assets was 5.21%. The annual profit distribution plan of the company in 2023 isSlotking69bonusIt is proposed to distribute 1 yuan (including tax) to all shareholders for every 10 shares.

Based on the closing price on April 12, the current price-to-earnings ratio (TTM), price-to-book ratio (LF) and price-to-sales ratio (TTM) are about 52.58, 2.66 and 4.04 times respectively.

The historical quantiles of the company's recent price-to-earnings ratio (TTM), price-to-book ratio (LF) and price-to-sales ratio (TTM) are as follows:

Data statistics show that the compound growth rate of total revenue of hypermap software in the past three years is 7.11%, ranking seventh among the eight companies in the horizontal general software industry that have disclosed data for 2023. The compound annual growth rate of net profit in the past three years is-13.46%, ranking 5x8.

In terms of products, in the company's main business in 2023, GIS software revenue was 1.96 billion yuan, an increase of 24.55% over the same period last year, accounting for 99.05% of the operating income.

By the end of 2023, the total number of employees of the company was 4019, with per capita income of 492300 yuan, per capita profit of 37800 yuan and per capita salary of 244000 yuan, up 30.39%, 147.23% and 5.00% respectively over the same period last year.

In 2023, the company's gross profit margin was 57.88%, up 11.34 percentage points from the same period last year; the net profit margin was 7.35%, up 28.90 percentage points from the same period last year. According to the single-quarter indicators, the company's gross profit margin in the fourth quarter of 2023 was 65.25%, up 37.14% from the same period last year and 15.40% from the previous quarter; the net profit rate was 2.27%, up 70.16% from the same period last year and down 11.50% from the previous quarter.

During the reporting period, the total sales amount of the company's top five customers was 137 million yuan, accounting for 6.90% of the total sales amount, and the total purchase amount of the company's top five suppliers was 28 million yuan, accounting for 7.00% of the total annual purchase.

According to the data, the weighted average return on equity of the company in 2023 was 5.21%, an increase of 16.53 percentage points over the same period last year, and the rate of return on invested capital in 2023 was 4.72%, an increase of 17.16 percentage points over the same period last year.

In 2023, the net cash flow of the company's operating activities was 55.6443 million yuan, an increase of 171 million yuan over the same period last year; the net cash flow of fund-raising activities was 21.3451 million yuan, an increase of 45.6568 million yuan over the same period last year; and the net cash flow of investment activities was-315 million yuan in the same period last year.

Further statistics show that the company's free cash flow is 199 million yuan in 2023, compared with-506 million yuan in the same period last year.

In 2023, the cash ratio of the company's operating income is 93.92%, and the net present ratio is 36.58%.

In terms of operating capacity, in 2023, the company's total asset turnover rate was 0.44 times, compared with 0.35 times in the same period last year (the industry average in 2022 was 0.43 times, and the company ranked 23cm 35 in the same industry); the fixed asset turnover rate was 7.43 times, 7.76 times in the same period last year (the industry average in 2022 was 9.12 times, and the company ranked in the same industry 18pm 35). The turnover rate of accounts receivable and inventory is 2.85 times and 1.77 times respectively.

In 2023, the company's period expenses were 914 million yuan, an increase of 131 million yuan over the same period last year, but the period expense rate was 46.17 percent, down 2.86 percent from the same period last year. Among them, sales expenses increased by 34.43% over the same period last year, management expenses increased by 7.74% over the same period last year, R & D expenses increased by 4.56%, and financial expenses changed from-9.3705 million yuan to-6.2763 million yuan in the same period last year.

In terms of major changes in assets, by the end of 2023, the company's monetary funds had increased by 14.36% over the end of the previous year, accounting for 2.39% of the company's total assets; inventory decreased by 10.04% compared with the end of last year, accounting for 1.41% of the company's total assets; trading financial assets decreased by 5.14% compared with the end of last year, accounting for 1.40 percentage points of the company's total assets. Development expenditure increased by 35.87% over the end of last year, accounting for 0.86 percentage points in the company's total assets.

In terms of major changes in liabilities, by the end of 2023, the company's contractual liabilities decreased by 16.79% compared with the end of last year, accounting for 4.23% of the company's total assets; accounts payable increased by 17.47% over the end of the previous year, accounting for 1.10% of the company's total assets; taxes and fees payable increased by 70.26% over the end of last year, accounting for 0.40% of the company's total assets The salary payable to staff and workers increased by 13.92% over the end of last year, accounting for 0.32 percentage points in the company's total assets.

From the perspective of inventory changes, by the end of 2023, the book value of the company's inventory was 446 million yuan, accounting for 14.87% of the net assets, a decrease of 49.8073 million yuan compared with the end of last year. Among them, the provision for the price decline of inventory is 3.8229 million yuan, with a provision ratio of 0.85%.

For the whole of 2023, the company's R & D investment was 383 million yuan, an increase of 23.00% over the same period last year; R & D investment accounted for 19.37% of operating income, down 0.16% from the same period last year. In addition, the capitalization rate of the company's annual R & D investment is 31.53%.

In terms of solvency, the asset-liability ratio of the company at the end of 2023 was 33.31%, down 2.64 percentage points from the end of the previous year; and the interest-bearing asset-liability ratio was 0.55%, down 0.10 percentage points from the end of the previous year.

In 2023, the current ratio of the company is 2.07 and the quick ratio is 1.77.

According to the annual report, among the top 10 circulating shareholders of the company at the end of 2023, the new shareholders are the Golden Eagle Science and Technology Innovation Stock Investment Fund and the Golden Eagle dividend value flexible allocation mixed Securities Investment Fund, replacing the Dongfanghong industry upgrading and flexible allocation of mixed securities investment funds and the Hongkong and Shanghai Banking Corporation Limited at the end of the third quarter. In terms of specific shareholding ratio, the shareholding of Guangfa Fund Management Co., Ltd.-Social Security Fund 420 portfolio has increased, while Dongfang Hong Ruixi has regularly opened and flexibly allocated mixed securities investment funds over the past three years, the shareholdings of the Institute of Geography and Resources of the Chinese Academy of Sciences, and Hong Kong Securities Clearing Co., Ltd. have declined.

In terms of chip concentration, by the end of 2023, the total number of shareholders of the company was 37200, down 1131 or 2.95% from the end of the third quarter, while the value of stock market holdings per household rose to 277100 yuan from 260500 yuan at the end of the third quarter, an increase of 6.37%.

Indicator Notes:

Price-earnings ratio

= total market capitalization / net profit. When the company loses money, the price-to-earnings ratio is negative, so it is of no practical significance to use the price-to-earnings ratio or the price-to-sales ratio as a reference.

Price to book ratio

= total market capitalization / net assets. The price-to-book ratio valuation method is mostly used for companies whose earnings fluctuate greatly and their net assets are relatively stable.

Market sales ratio

= total market capitalization / operating income. The valuation method of price-to-sales ratio is usually used for growth companies that are losing money or making small profits.

The price-to-earnings ratio and price-to-sales ratio in the text are calculated based on the TTM method, which is based on data for the 12 months up to the latest financial report (including forecasts). The market-to-book ratio adopts LF mode, that is, calculated based on the latest financial report data.

When P/E ratio is negative, the current quantile is not displayed, resulting in broken line chart.

(Source: China Securities News·China Securities Network)