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Xiamen JingTu IT Co., Ltd. (hereinafter referred to as "fine map information") had recently, the main business information space of the digital city platform development and sales. As an upcoming landing of GEM companies, their size is not large, only about 200 people company-wide, but demonstrated a remarkable growth during the reporting period, operating profit CAGR of 266.7% and the industry market continued good, so too will the message one has become the focus of attention. "International Finance Correspondent disclosed in the prospectus, the company too dependent on government projects. Chen Hao Kang, PE Gangster low-key appearance the fine image information list of shareholders, and also let the market pessimistic about the stability of the company is listed. The prospectus shows that the operating profit during the reporting period (2008 to first half of 2011), refined map information were 2.1548 million yuan, 5.1665 million yuan, 28,975,300 yuan, 14,229,700 yuan, an increase of 557.77% in 2010 than 2008, the year are the compound annual growth rate reached 266.7%. Fine map information, the company only about 200 people, was able to complete more than 1 billion revenue and platform development and transfer business, gross margins can reach 80%, and system integration services gross margins close to 50%, people are very surprised a TMT (digital media) industry analysts read the fine information the prospectus said, "careful analysis of the objects of the company's most profitable business sales, you can understand the secret of its growth." above analysts a then points to the fine map information key to the growth. The prospectus shows that fine map information to provide spatial information platform for the field of digital city, digital gazetteers, emergency management, digital pipeline, real-time traffic information services segments in the company to achieve a leading digital city. Sales customers include government agencies, institutions, enterprises, general contracting customers, institutions as a supplement to the government departments, general contracting customer selected buyers for the government or government-selected general contractor, and the government there is a certain contact, it can be integrated into the government type of customer. Assume the nature of the public utilities of large state-owned enterprises is backup camera and car dvr also the company's customer base. During the reporting period, the number of fine map information the government class customer accounted for 72%, 68.35%, 59.52%, 66.67%; the proportion of sales revenue to the government class of customers were 78.57%, 74.06%, 53.13%, 52.46%. The industry believes that the fine map information downstream customers is the basic government, which would make the company cash flow tensions affect the company's earnings. The prospectus shows, Accounts receivable, net of the reporting period, the fine map information were 5.6518 million yuan, 13,608,600 yuan, 23,774,600 yuan, 25,496,200 yuan, accounting for the proportion of current assets over the same period were 20.52%, 29.50%, 19.4 %, 21.47%.
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