SW-TECH(300113)2024-07-23 13:24Company Overview - Founded in July 2005, Shunwang Technology is a significant player in the tech industry, transitioning through various internet eras and currently focusing on AI and computing power [3]. - The company aims to leverage technological innovation and ecosystem collaboration to enhance user experiences and drive growth in the AI and esports sectors [3]. Financial Performance - In 2023, the company achieved a revenue of CNY 1,432.97 million, a year-on-year increase of 27.52%, and a net profit of CNY 169.50 million, up 141.76% [3]. - For Q1 2024, revenue reached CNY 412.13 million, reflecting a 13.08% increase year-on-year, with a net profit of CNY 53.44 million, up 30.38% [3]. Business Focus Areas AI and Computing Power - The company is enhancing its computing power services, transitioning from vertical services to a more inclusive model that meets diverse client needs [10]. - Plans include developing a comprehensive edge computing platform to support various applications, including AI model training and deployment [10][11]. Esports and Interactive Entertainment - Shunwang Technology has established a strong presence in the esports sector, providing end-to-end tech solutions for game developers and service providers [6]. - The 21st ChinaJoy exhibition will take place from July 26 to 29, 2024, focusing on gaming and new technologies like AI and cloud computing [7]. Gaming Business - The company is actively involved in the gaming industry, with a focus on both joint operations and independent publishing of online games [8]. - Subsidiary Fuyun Technology specializes in casual game development and has successfully launched several popular titles [9]. Share Buyback - As of June 30, 2024, the company has repurchased 3,063,300 shares, accounting for 0.4412% of total shares, with a total expenditure of CNY 32.95 million [15]. International Expansion - The company is pursuing global opportunities in esports, aiming to enhance its international presence and collaborate with overseas partners [16].