Contemplate Software's IPO on the GEM has been "terminated (withdrawn)" and the company is dedicated to the research and development of operating systems, focusing on domestic substitution.
On January 5, Beijing ConThink Software Co., Ltd. (hereinafter referred to as ConThink Software) terminated its IPO on the Shenzhen Stock Exchange's GEM. ConThink Software and its sponsor withdrew their IPO application, and according to Article 62 of the "Shenzhen Stock Exchange Stock Issuance and Listing Review Rules", the Shenzhen Stock Exchange decided to terminate its IPO review.The prospectus shows that ConThink Software is mainly engaged in the research and development of operating systems and develops system function software and cloud computing products based on them. The company serves the construction of the security capability of China's critical information infrastructure, and its core products are ConThink Security Operating System and system function software and cloud computing products based on downstream customers' specific application scenarios, mainly applied in the production and key business systems of the power industry; at the same time, the company provides technical services around ConThink Security Operating System.The domesticization rate of operating systems is low. According to iResearch data, the domesticization rate of operating systems in China is less than 5% in 2022. In 2021, China's "14th Five-Year Plan and 2035 Vision Outline" and "14th Five-Year Plan for the Development of Software and Information Technology Services" were released, and basic software represented by operating systems has become a key direction for the country to focus on and guide. The development of autonomous and controllable domestic substitutes in operating systems and other fields has become an irreversible development trend.According to the China Academy of Information and Communications Technology, in 2021, the company's market share of server operating systems in the power industry was 26.9%, ranking first among domestic vendors. At the same time, the company has gradually extended its industrialization experience accumulated in the power industry to the telecommunications, transportation, finance and other industries, providing products and services to telecom operators, China Railway Group and state-owned large commercial banks.In the future, with the accelerated development of China's digital economy, the domestic software industry will usher in new development opportunities. Operating systems, as key basic software, are a key area of national strategic support. The Company will adhere to the mission of "realizing the domesticization and security of large-scale basic industry operating systems" and continuously enhance its operating system development capabilities to continuously improve its product system.The actual funds raised from the issuance of new shares will be used for projects related to the Company's main business and working capital needed for the development of its main business, as follows:Financially, ConThink Software's revenue was RMB142 million in 2020, RMB172 million in 2021 and RMB211 million in 2022, and its net profit was approximately RMB105 million, RMB103 million and RMB121 million, respectively, during the same period.
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