Domestic middleware manufacturers are the second
Zhongchuang Software is a domestic provider of basic software products and services. Its main business income comes from middleware software sales, customized development services related to middleware and operation and maintenance services.
In the field of basic software, there are three infrastructures: middleware, operating system and database. Generally speaking, middleware is a product between operating system and application. However, compared with the familiarity of operating system and database, middleware is rarely mentioned. So, how does Zhongchuang Software rank in this hidden track?
According to the Research Report on the Development Trend of Software Infrastructure (Middleware) Market in 20021-2022 released by Jishi Information, in 20021year, Zhongchuang's market share in the domestic basic middleware field was 15%, ranking second among domestic middleware manufacturers.
At present, the products of Zhongchuang Software are mainly used in the fields of party, government and army, energy, finance, transportation and other industries. In terms of financial data, from 20 19 to 202 1, the revenue of Zhongchuang Software was 690 1 10,000 yuan, 8 1.86 million yuan and1.200 million yuan respectively; The net profit was 26.99 million yuan, 42.76 million yuan and 48.39 million yuan respectively. It can be seen that the revenue scale and net profit of Zhongchuang Software are generally rising steadily.
However, judging from the comparable data of the industry, the revenue scale of Zhongchuang Software is not large. At present, Dongfang Tong in the A-share market has an annual revenue of 332 million yuan and middleware of 269 million yuan in 2020 and 2002/kloc-0, which is three times that of Zhongchuang Software. The operating income of Baoland from 20 19 to 202 1 also reached1430,000 yuan,1820,000 yuan and 200 million yuan respectively.
In addition, because the customers of Zhongchuang Software are mainly government agencies, institutions, military units and state-owned enterprises, the collection process is relatively long, which makes the company's accounts receivable at the end of the period larger. From 20 19 to 202 1, the book balance of the company's accounts receivable was18140,000 yuan, 34.44 million yuan and 62.9 million yuan, respectively, accounting for 26.29%, 42.08% and 52.34% of the current operating income. However, the accounts receivable of the company aged less than one year are 64.92%, 94.60% and 9 1.30% respectively, and the quality of accounts receivable assets is relatively good.
According to the prospectus, Zhongchuang Software plans to raise 600 million yuan this time, including 230 million yuan for research and development of infrastructure and middleware, 65.438+0.3 billion yuan for upgrading R&D technology center, 60 million yuan for construction of marketing network and service system, and 65.438+0.8 billion yuan for supplementing working capital.
Shake the cheese of foreign middleware manufacturers
Judging from the industry competition pattern, relying on the first-Mover advantage and long-term technology accumulation, foreign companies are still the first echelon in China middleware market, mainly foreign mainstream middleware manufacturers such as IBM and Oracle Bone Inscriptions. According to the data of Jishi Information, in 20021year, the market size of basic middleware in China was about 4.83 billion yuan, domestic middleware was about 680 million yuan, and the remaining 4/kloc-0.50 billion yuan was the products of foreign manufacturers.
In the domestic middleware market, Dongfang Tong, which was listed on the GEM on 20 14, is an old-fashioned middleware manufacturer in China, and its current market share is 28%, nearly twice that of Zhongchuang Software.
Under the "internal troubles and foreign invasion", it is not easy for Zhongchuang Software to break through.
The aforementioned analysts further indicated that in the future, if domestic manufacturers such as Zhongchuang Software want to further incite the cheese of foreign manufacturers, they can deeply penetrate into the three major industries of government, finance and telecommunications, and the target customers of the middleware market are enterprise-level customers, among which government, finance and telecommunications account for the largest proportion, reaching 23.5%, 22.9% and 22.6% respectively, and these three areas are also the areas that the government can easily guide on the demand side.