0Reloading the solid base strong precipitation ability
UFIDA (600588): IUAP5.
0Reloading the solid base strong precipitation ability
Event Q4 2019, UFIDA released the latest version of the cloud service platform.
0. According to the concept of China-Taiwan, we adopt the China-Taiwan architecture and provide a new system of China-Taiwan operations, promote the deep integration of technology and business, and create a shared ecosystem of corporate services.
The platform products have new features such as China-Taiwan architecture, cloud-native, low-code development, data intelligence, hybrid cloud, specialization, rich field and industry application integration.
Based on iUAP5.
0 The first-class new platform, the company finally released the cloud-native architecture SaaS product YonSuite for growing enterprises, which strengthened the output of public cloud products to small and medium-sized enterprises and has the potential for rapid replication and expansion.
The new version of NC Cloud products has continued to land in large customers, and has won bids for ERP projects of super large groups such as the group affiliated with the long-established domestic product “Big White Rabbit” and the top 100 pharmaceutical companies in the pharmaceutical industry.
In addition, the transaction-level ledger (formerly Oracle) of Liuzhou Bank, Huaxin Lihua and other high-end customer product lines have been replaced.
Comment on iUAP5.
0 products, rapid iterative improvement in various aspects: (1) technology upgrades to better integrate platform alternative technologies such as blockchain, IoT, DevOps, container cloud, and microservices; (2) provide the ability to quickly build a platform in China, based onArchitecture, and more importantly, to provide customers with business capabilities; (3) cloud-native architecture, based on microservices as the technical foundation, focusing on building a cloud-native architecture that is resilient, inherent, and secure for public, proprietary, and hybrid clouds(4) provide low-code development, model-driven low-code or no-code open platform to develop applications, support the development mode of local and cloud interaction, and quickly create applications; (5) help enterprises integrate and respond to foreign organizations, languages,Fiscal and taxation systems, HR systems, etc., stand on continuous procurement, employment, sales and other aspects of continuous polishing solutions to empower Chinese companies to “go global”; (6) open connections, open connections from previous systems within the enterprise to achieve connectivityIndustrial chain, Internet, social, external social networks, through OpenAPI, multi-terminal receiving, etc. to better connect and build an open systemStructure, there are currently more than 60 ecologically integrated products on the market; (7) based on the data lake, providing complete data center capabilities from data sources to data management, data center storage, modeling, data mining to data applications,And empower the enterprise from the perspective of data intelligence; (8) brand-new automation products, providing VPA, RPA products to help enterprises to be intelligent assistants, to achieve autonomous checkout / billing and other intelligent processes.
Create a cloud-native China-Taiwan architecture, adhere to the data-driven concept, open up and create an ecosystem, and the iUAP platform supports the development of the core base of UFIDA products.
In addition to the technical aspect of the merger between China and Taiwan, the more common common needs of large enterprise customers is how to precipitate the capabilities of the enterprise. The cloud-native architecture facilitates the use of corporate capabilities to precipitate and expand.
The iteration of technology and the needs of customers drive the continuous development of UF’s iUAP products, depositing business capabilities to Central Taiwan, and opening industrial capabilities to third-party partners to jointly serve customers.
Help enterprise customers penetrate various industry integrations, practice cloud-native practices, effectively and intelligently manage data, build a China-Taiwan architecture, and expand; based on a hybrid cloud platform architecture, move from internal integration to industry chain collaboration.
Hybrid cloud is an important technical foundation for connecting internal and external systems of an enterprise.
iUAP realizes the connection of different systems (intranet / extranet, public cloud / exclusive cloud / private cloud, enterprise / UFG / third party) through UCG (Unified Service Gateway), and at the same time opens its capabilities to the API cloud market and provides it to partnersDevelop services with enterprises to realize the sharing and collaboration of the industry chain.
UFIDA will be about 15% every year?
20% of R & D revenue expansion (most of which is expected to be invested in cloud business) is the main driving force for the improvement of its cloud platform and cloud products, which has been transformed into R & D, trial and error, sales, feedback, and iteration.
With a strategy of 0, the company is committed to becoming an ecological builder in the era of the corporate Internet. Based on the accumulation of technology and know-how from customers in the enterprise-level service industry for more than 20 years, it has launched a cloud service with an open platform.
We are optimistic about the company’s competitive advantages and growth prospects in the enterprise-level service market. Based on the accumulation of services to large and medium-sized enterprises, the cloud business is supported by stronger growth.
With the increase in the proportion of cloud business, the company’s financial indicators such as accounts received in 深圳桑拿网 advance and operating cash flow have shown an upward trend, and the quality of profits has improved.
In 2018, UFIDA’s operating net cash flow was approximately 2 billion (43% year-on-year), corresponding to 35 times the static PCF.
We believe that the company’s cash flow will maintain steady growth.
In 2020, they will be 23 trillion and 27 trillion respectively, corresponding to 31x and 26x respectively.
At the same time, with reference to the segment assessment method, we believe that the current value of the company is undervalued and we maintain a “Buy” rating.