China Construction Information (834082) 2018 Financial Report Review: Accelerating Expansion of Huawei’s Overseas Business Profit Improvement
Overseas ICT business expanded, cloud business grew, and the company’s total operating income in 2018 was 130.
40,000 yuan, 15 compared with the same period last year.
07%; deduct non-net profit 2.
50,000 yuan, 28.
Proportion of revenue contributed by sales of main business ICT hardware.
32%, an increase of 23.
07%, the total sales growth with Huawei’s enterprise business was 23.
83% is basically the same; the company will become one of Huawei’s global generations of overseas business in 2018, and 杭州夜生活网 follow Huawei to jointly explore overseas markets.
Cloud and digital business grew significantly 153.
7%, the proportion increased by 2.
01pct to 3.
67%, the company has Huawei Cloud and Microsoft Cloud professional teams to provide customers with cloud services, cloud management services and other technical services.
The company’s 2018 annual proposed cash dividend of 0.
65 yuan (including tax).
The gross profit margin increased, and the repayment effort was strengthened to improve cash flow and debt ratio profitability. The company’s gross profit margin in 2018 was 8.
76%, rising by 1 each year.
59pct, a significant increase in recent years to a new high, is expected to be mainly due to the high gross profit margin of the cloud business revenue share increased.
In terms of costs, the total cost of 2018 is 5.
91%, rising by 0 every year.
Specifically, the selling expense ratio is 2.
34%, rising by 0 every year.
Management expense rate is 0.
84% (including R & D), rising by 0 every year.
18pct, the company increased its investment in digital service platforms and management platforms.
Finance expense ratio 2.
74%, rising by 0 every year.
73pct, mainly because the company adopted diversified financing methods such as bank credit and receivable factoring, and reported that the scale of financing income increased.
The company’s net margin for 2018 was 1.
66%, rising by 0 every year.
13pct, the gross profit margin improved significantly but due to the provision of a single large amount of bad debt provision, the net profit margin improved only slightly.
Promote digital work platforms, cloud service platforms, and accelerate the development of Huawei’s overseas business companies. Relying on their leading position in enterprise ICT value-added distribution, they will make breakthroughs in the transition to platform and service-oriented transformation in the future.
2) Build a domestic leading cloud service platform.
3) Accelerate the expansion of Huawei’s overseas business.
Risk reminds single supplier dependence; receivable assets impairment exceeds expectations.
Accelerate the development of Huawei’s overseas business and maintain the “Buy” rating. The company’s market share in Huawei’s enterprise business continues to maintain its leading position. Accelerate the development of Huawei’s overseas business, cloud and digital business, help performance growth and gross margin increase to a record high;Efforts 北京spa会所 were strengthened, and average cash flow and debt ratios improved.Expected earnings for 2019/20/21 are 1 respectively.
63 yuan, maintain “Buy” rating.