正文
all
Q100
stocks.
Its dividend yield, net debt to equity, and OPM are in the first quartile of
all
Q100
stocks.
Key Investment MetricsRevenue Growth
We forecast revenue rising by 26% YoY to Rmb4,108mn in FY19, driven mainly by risingdemand for the company’s services from financial institutions owing to new regulations. We forecast a revenue CAGR of 25% over FY19–21 as the company expands further in thefinancial IT services industry.
Profit Margins
We expect the GPM to hold steady at 97% over our forecast period.
Shareholder Returns
We assume a dividend-payout ratio of 30% and project ROE of 24–25% over FY19–21.
Balance Sheet Risks
