事件：
2024年4月24日，公司發佈了 2023 年度報告。2023年，公司實現營業收入105.44億元，同比增長11.39%；實現毛利率24.20%，同比增長3.42%。
點評：
公司業績扭虧爲盈，增長潛力開始顯現。2023年，公司實現歸母淨利潤7391萬元，去年同期爲-3.43億元，同比增長4.17億元。分行業看，醫療健康及社會保障方面，實現收入25.71億，同比增長29.74%；智能汽車互聯方面，實現收入39.16億，同比增長9.36%；智慧城市方面，實現收入16.23億，同比下降2.41%；企業互聯及其他方面，實現收入24.33億，同比增長8.64%。分產品看，自主軟件、產品及服務方面，實現收入90.35億，同比增長12.21%；系統集成方面，實現收入13.32億，同比增長7.58%；物業廣告方面，實現收入1.77億，同比增長0.61%。
2023 results: net profit swung into the black and gross margin widened 3.4ppt
Key metrics:
Neusoft released 2023 results recently with revenue at RMB10.54bn (rising 11.39%) and gross margin at 24.20% (widening 3.42ppt). The company swung around from loss and its profit growth potential emerged: net profit was RMB73.91m last year, rising by RMB417m from the RMB343m net loss last year. We view more granular perspectives for 2023 results below:
Revenue by business category:
•Medical health and social security: RMB2.57bn, up 29.74%
•Smart car interconnections: RMB3.92bn, up 9.36%
•Smart cities: RMB1.623bn, down 2.41%
•Enterprise interconnections and others: RMB2.43bn, up 8.64%.
Revenue by product type:
•Proprietary software, products and services: RMB9.04bn, up 12.21%
•Systems integration: RMB1.33bn, up 7.58%
•Property advertising: RMB177m, up 0.61%.
大健康板塊快速增長，汽車相關業務持續加速。
大健康板塊方面，公司在醫療健康及社會保障領域保持30%左右的業務增速；在醫保信息系統領域、人社IT解決方案行業和醫療IT應用市場等領域保持市場份額第一；簽約了近 20 個覆蓋“智慧醫院”關鍵領域的千萬級項目。智能汽車方面，公司研發的智能座艙平臺已在極越01和吉利銀河E8車型上實現量產，與衆多國內外廠商保持深度合作，整體出貨量持續提升；出海業務增長顯著，年內新增定點金額約爲上年同期 3 倍；公司在智能座艙域控制器、車載無線終端和C-V2X車端集成方案各項成績爲國產廠商第一，T-Box市場份額居國產第一。
Healthcare businesses grew quickly; automotive businesses accelerated
Medical care:
Neusoft maintained business growth of about 30% in the medical care and social security segments. It maintained its largest market share in medical insurance information systems, human resources and social security IT solutions, and also medical IT application markets. The company signed close to 20 mega projects of the RMB10m caliber in key smart hospital categories.
Smart cars:
the smart cockpit platform developed by Neusoft was deployed in Geely’s Jiyue 01 and Galaxy E8 models and they have entered mass production. Neusoft’s deep ties with many Chinese and foreign manufacturers have led a consistent rise in total shipment volumes. The company’s foreign market has grown strongly and this year’s newly added fixed orders were 3x last year’s. Among Chinese manufacturers, Neusoft is top-rated for smart cockpit domain controllers, in-vehicle wireless terminals and C-V2X vehicle integration solutions. Its T-Boxes command the largest share in the China market.
設立科技研究院，持續推進AI等領域創新。
2023年，公司設立東軟魔形科技研究院，專注推動大語言模型系統工程戰略。公司推出“AI+醫療”領域的垂域大模型“添翼醫療領域大模型”，以及一系列“AI+醫療行業應用”，包括飛標醫學影像標註平臺4.0、虛擬內窺鏡等，其中，飛標醫學影像標註平臺已在多家知名醫療機構得到應用，多個AI+應用已在數個標杆項目中實現應用。公司持續重配研發，2023年，公司研發費用10.32億，同比增長12.16%，新增軟件著作權447件，申請專利187件，授權專利175件，其中發明專利授權153件，同比增長46%。
New tech research institute promotes innovations in AI and other fields
The company set up the Neusoft AI Magic Technology Research Institute (NMRI) last year to develop system engineering strategies for large language models (LLM). It launched Tianyi Medical, its vertical LLM that integrates AI into medical market solutions, as well as AI medical industry applications like Feibiao Medical Image Annotation Platform 4.0 and a virtual endoscope. Feibiao is already deployed in a slew of well-known medical institutions with its multiple AI-enabled applications implemented in several benchmark projects. Neusoft has been reallocating its R&D investments so that R&D expenses rose 12.16% to RMB1.03bn in 2023. It holds 447 software copyrights and 175 authorized patents, along with 187 patent applications. Of the patents it holds, 153 are invention patents, 46% more than the previous year.
持續驅動智慧城市建設，加速民生數據要素深度佈局。
公司以“數據要素”爲核心，通過全棧技術融合，主動融入“生態共同體”，協助構建端到端的算力基礎設施，驅動新型智慧城市建設。公司已在瀋陽、錦州等地分別與政府聯合組建了數據公司並陸續開始投入運營，深度參與國家平臺及海南、內蒙古、蘇州、南通等多個省市的醫保數據治理工作。
Smart city construction; the use of data elements enhances livelihoods
Tapping the value of data elements, Neusoft took the initiative to build an eco-community. It integrated full-stack technology to assist in the building of end-to-end computing infrastructure and drive the construction of new smart cities. It established data JVs with the governments of Shenyang, Jinzhou and others, rolled out operations and engaged in medical insurance data governance work on the national platform for many cities and provinces, such as Hainan, Inner Mongolia, Suzhou and Nantong.
