CBRC encourages the purchase of domestic information equipment

The industry faces an opportunity period and the market space is huge. The market space of POS machines has just opened, and the overall growth rate of the industry in the future will increase by more than 40% per year. Market POS machines are divided into traditional POS machines and telephone POS. Among them, traditional POS has high security performance and high gross profit margin, which is about 50%. Customers mainly purchase for UnionPay business, commercial banks, third-party payment, etc. This part has about 6 million units on the market, but conservative estimates. The market should be at least 20 million units, and optimistic to reach 40 million units;

The telephone POS has low cost and poor security performance. In strict sense, it cannot meet the requirements of financial POS. It can't swipe credit card, mainly used for card transfer between merchants. The gross profit of telephone POS is low, about 20%. This piece currently has about 10 million units on the market. Since UnionPay has a large voice in terms of market capacity, it will select high-quality customer resources to deploy pos machines, so many first-tier cities are not yet fully popular (not all consumer sites); second- and third-tier cities Popularization may be even worse, only some big shopping malls will have it. In addition, the POS machine has been widely popular since 2008, and the POS machine is replaced in 5 years. Next year, the first wave of update demand will be ushered in. The new demand and update requirements will ensure sufficient market space.

Shanxi Securities believes that the company's future growth space mainly depends on the expansion of commercial banking business. The company's previous business was mainly based on UnionPay business, and now it is making efforts to enter the commercial banking field, and this year has made a major breakthrough, and successfully won the order of 30,000 units of the Bank of China. This year, the company's customer base has achieved a good conversion, and the UnionPay business, commercial banks, and third-party payment institutions are basically balanced. UnionPay business is an industry promoter, so he is relatively strong. Compared with commercial banks, the purchase price is lower than that of commercial banks (the price difference is about 10%). In addition, he has some qualifications for downstream merchants and will have limited choices. Qualified customers come to the distribution point, the supply quantity has a quota limit every year; commercial banks do not have these problems at present. It is understood that the annual demand of the Bank of China is about 200,000 units. The company has entered the BOC supply chain, and the three large-scale industries, agriculture, and construction. Banks have not yet made progress, and China Merchants Bank, Bank of Communications, China Everbright, and Post Office are all in small quantities. The current purchase volume of third-party payment institutions has remained stable. The focus of the company's future business breakthroughs is in the field of commercial banking. If the customer expansion is successful next year, the company's revenue and profits will increase significantly.

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