Jinzhi Technology (002090): Join hands with Daquan Group to lay out ubiquitous electric power Internet of Things

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03/25/2020 0 Comment

Jinzhi Technology (002090): Join hands with Daquan Group to lay out ubiquitous electric power Internet of Things
Event: Recently, the company announced that it has changed the “Strategic Cooperation Framework Agreement” with Daquan Group Co., Ltd. (referred to as “Daquan Group”).Orientation cooperation. Jinzhi Technology is a leader in smart energy and smart cities.In the early days of the company’s establishment, it mainly provided integration services for campus network and information system construction. In 1997, the company began to set foot in the field of electric power automation.Since 2010, the company has broken through the development of information technology and automation, and the company has continued to expand its business.In the smart energy business segment, the company has completed the strategic layout of the entire industrial chain of the power automation business.In the smart city sector, the company takes the information fusion platform as the core to form a three-dimensional business architecture of smart cities oriented to information infrastructure, industry intelligent applications, and operation service management. The construction of the ubiquitous electric power Internet of Things will bring new opportunities for development.State Grid in March 2019 proposed a comprehensive deployment of ubiquitous electric power IoT construction, a two-step strategy, and plans to fully build ubiquitous electric power IoT by 2024.2019 will be the first year of launch. The annual construction plan has been initially issued. There are 57 major construction tasks proposed from six internal and external sources, of which 27 will be promoted in 2019.The company’s substation comprehensive automation, power distribution automation, line monitoring, inspection robots, information and communication infrastructure and other related products and businesses are all ubiquitous in the induction layer and network layer of the electric power Internet of Things, and are expected to usher in new opportunities for development. Cooperating with Daquan Group, the strong and powerful are now ubiquitous in the construction of electric power Internet of Things.Daquan Group, founded in 1965, is a leading manufacturer in the fields of electricity, new energy and rail transportation. It has been successively recognized as a national innovative enterprise, a national key development enterprise and a top 500 private enterprise in China.The strategic cooperation released this time will fully integrate Daquan ‘s strengths in the primary fields of primary power equipment and Jinzhi Technology in the secondary equipment fields, and promote the “first and secondary deep integration” and “automation and informatization integration” of power.Plan ahead for the ubiquitous electric power IoT infrastructure construction that will be launched soon. The two parties actively work together to spread the flood of application scenarios in the electric power IoT.Integrated energy services are one of the main application scenarios of the State Power Network’s ubiquitous electric power Internet of Things, and it is also the company’s key layout business direction.According to the research of the State Grid Energy Research Institute, from the perspective of the integrated energy service basic business and terminal energy demand, the potential scale of the integrated energy service market can reach USD 500-600 billion by 2020.On April 11, 2019, the company signed a long-term long-term strategic cooperation agreement with State Grid Jiangsu Integrated Energy to explore a demonstration model of future ubiquitous power Internet of Things integrated energy service applications.The cooperation with Daquan Group also focuses on integrated energy services. The two parties will cooperate in research and 杭州桑拿 development of core products and solutions in the field of integrated energy services, and jointly develop new energy, diversified energy sources, multi-energy complementarity, energy efficiency and energy managementAnd other integrated energy services. Adjust business structure, strategic focus on automation and informatization.The company is currently actively adjusting its business structure, and its strategic goals are gradually becoming clear. In the future, informatization and automation will focus on smart energy and smart cities, and under the flooded power IoT architecture, it will fully promote the convergence of the two business areas.In December 2018, the company divested its 10% stake in Nanjing Tunnel Bridge to the Group; In April 2019, the company transferred the EPC business entity Ganhua Power to Jinzhi Group;合肥夜网 in 19Q1, it transferred Bulgaria’s Brezovo Power Station (3MW) and Bul-Group Power Station(5MW) 100% equity.In the future, it will not be ruled out that the company will further do business integration and promote highly focused and deeply integrated business. Investment advice: We expect the company’s revenue growth to be 4 in 2019-2021.3%, 6.0%, 13.3%, net profit growth was 117.7%, 27.9%, 27.3%.Maintain BUY-A investment rating with 6-month target price of 32.00 yuan. Risk reminders: The spread of State Grid is slow in the advancement of the Internet of Things in Electricity; the progress of cooperation between the two parties is weak;