Taiji Computer Corporation Limited (002368.SZ) Bundle
Born in 1987 and public since 002368.SZ (listed on the Shenzhen Stock Exchange in 2001), Taiji Computer Corporation Limited has grown from a Beijing-based IT services firm to a diversified technology player with a complex ownership base-29% held by CLP Taiji (Group) Co., Ltd. as of March 4, 2025-and a history of rising market value (about 5.95 billion CNY in 2010 to 15.13 billion CNY in 2015 at a 6.83% five-year CAGR, reaching 16.69 billion CNY on October 23, 2025) even as 2024 revenue dipped to 7.84 billion CNY (down 14.77% YoY); the company now blends in-house development and strategic partnerships-launching a Xinchuang working group in 2025, deploying its PwC vehicle operating system across domestic and some international automakers, building a 'computing power+model+application' AI stack, and experimenting with blockchain-enabled cross-border digital yuan-to monetize information infrastructure, basic software, cloud and data services, and industry solutions, while institutional investors boosted holdings by 5.49 million shares between October 19, 2024 and February 11, 2025, the top 25 shareholders control less than half the stock, and as of December 12, 2025 the shares traded at 23.52 CNY with a market cap of 14.66 billion CNY, a trailing PE of 66.34, and TTM revenue of 8.36 billion CNY (YoY +0.63%).
Taiji Computer Corporation Limited (002368.SZ): Intro
Taiji Computer Corporation Limited (002368.SZ) is a Beijing-headquartered Chinese software and information technology service provider founded in 1987. The company has evolved from a domestic software developer to a diversified IT services group providing products and services across public sector, finance, energy, telecommunications and enterprise customers.- Founded: 1987 (Beijing)
- Listed: 2001 on Shenzhen Stock Exchange (Ticker: 002368.SZ)
- Core activities: software development, system integration, IT outsourcing, cloud & data services
| Year | Event / Metric | Value / Note |
|---|---|---|
| 1987 | Establishment | Company founded in Beijing |
| 2001 | Public listing | Listed on Shenzhen Stock Exchange (002368.SZ) |
| 2010 | Market capitalization | ≈ 5.95 billion CNY |
| 2015 | Market capitalization | 15.13 billion CNY (5-year CAGR 6.83% from 2010) |
| 2024 | Revenue | 7.84 billion CNY (down 14.77% year-over-year) |
| Oct 23, 2025 | Market capitalization | 16.69 billion CNY |
- Early years (1987-2000): product-focused software development and early government/enterprise contracts.
- Listing and expansion (2001-2010): capital raised via Shenzhen listing enabled larger system integration and market expansion.
- Scale-up (2010-2015): market cap expanded from ~5.95B CNY to 15.13B CNY; investments in services, R&D and M&A.
- Recent period (2016-2025): diversification into cloud, data services and industry-specific solutions; faced cyclical revenue pressures-2024 revenue 7.84B CNY, -14.77% YoY.
- Publicly traded entity with institutional and retail shareholders on Shenzhen Stock Exchange (002368.SZ).
- Governance: board of directors and supervisory board as required by PRC listed company standards; executive management focused on tech and service delivery.
- Strategic shareholders and management stakes typically influence long-term R&D and M&A strategies (detailed shareholder registry available in company filings).
- Mission: provide reliable, industry-tailored software and IT services to digitalize government and enterprise operations.
- Strategic priorities: move up the value chain from software licensing to recurring-service models (cloud, outsourcing, managed services) and industry solutions.
- Competitive advantages: long-standing government and enterprise relationships, domain knowledge in regulated industries, and integration capabilities.
- Product & solution development: in-house R&D for industry-specific applications and platforms.
- System integration: large-scale deployment and customization for public sector and enterprise clients.
- Managed services & outsourcing: multi-year contracts for application operations, maintenance and cloud migration.
- Sales & delivery: regional sales teams, project-based delivery centers, and partnerships for cloud/infrastructure.
- Software licensing: upfront license fees for proprietary applications (project revenue, often one-time or periodic).
- System integration projects: implementation and customization contracts billed by milestone or time-and-materials.
- Recurring services: maintenance, SaaS/subscription, managed services and cloud-hosting contracts generating predictable recurring revenue.
- Consulting and professional services: advisory, business process consulting and digital transformation engagements.
| Metric | Value | Notes |
|---|---|---|
| Revenue (2024) | 7.84 billion CNY | Decrease of 14.77% vs prior year |
| Market capitalization (2010) | ≈ 5.95 billion CNY | Reference milestone |
| Market capitalization (2015) | 15.13 billion CNY | 5-year CAGR from 2010: 6.83% |
| Market capitalization (Oct 23, 2025) | 16.69 billion CNY | Latest cited market cap |
Taiji Computer Corporation Limited (002368.SZ): History
Taiji Computer Corporation Limited traces its roots to industrial computer and embedded system development in China, evolving into a provider of computing platforms, intelligent systems and integrated solutions for government, defense and enterprise customers. Over the past decade the company expanded from hardware-focused offerings into software, cloud-enabled services and system integration, aligning R&D toward industrial computing, AI-enabled edge devices and secure information systems.- Founded as a specialist in industrial and embedded computing, gradually diversifying into software, systems integration and cloud/edge services.
- Strategic shifts since 2018 emphasized AI/edge computing, cybersecurity and platform-based services for institutional clients.
- Listed on the Shenzhen Stock Exchange under ticker 002368.SZ and increasingly engaged institutional investors through targeted product and R&D investments.
Ownership Structure
- As of March 4, 2025, CLP Taiji (Group) Co., Ltd. held a 29.0% stake, the largest single shareholder.
- The second-largest shareholder owned 7.2% and the third-largest owned 1.7% of shares outstanding, indicating a dispersed major-shareholder base.
- Individual (retail) investors collectively hold a significant portion of shares, reflecting broad public interest and liquidity in the free float.
- Institutional investors, notably China Electronics Taiji and China Electronics Technology Investment, increased combined holdings by 5.49 million shares between October 19, 2024 and February 11, 2025.
- The top 25 shareholders collectively control less than 50% of shares, showing no single dominant controlling block.
| Shareholder | Stake (%) | Notes |
|---|---|---|
| CLP Taiji (Group) Co., Ltd. | 29.0 | Largest shareholder (as of 2025-03-04) |
| Second-largest shareholder | 7.2 | Institutional/strategic investor |
| Third-largest shareholder | 1.7 | Minor strategic holding |
| Top 25 shareholders (aggregate) | <50.0 | Diverse ownership; no controlling block |
| Institutional net increase (Oct 19, 2024-Feb 11, 2025) | +5,490,000 shares | China Electronics Taiji & China Electronics Technology Investment participation |
Mission
- Deliver secure, reliable industrial computing and intelligent system solutions tailored to government, defense and enterprise sectors.
- Drive innovation in edge computing, embedded AI and cybersecurity to support digital transformation across critical industries.
- Create long-term shareholder value through R&D-led product differentiation and expanding service-based revenue streams.
How It Works & Makes Money
Taiji generates revenue across hardware sales (industrial PCs, embedded boards, servers), software/licenses (specialized OS, middleware, security suites), systems integration and recurring services (cloud/edge deployment, maintenance, customization, and SaaS-like offerings). Major revenue drivers and business model elements include:- Product sales: One-off revenue from industrial computing hardware and turnkey systems for industrial, defense and enterprise clients.
- Systems integration & engineering: Project-based contracts that bundle hardware, software and customization with higher margins.
- Software & licenses: Proprietary middleware, embedded OS adaptations and cybersecurity tools sold per-license or under subscription.
- Services & maintenance: Recurring revenue from long-term maintenance, managed services, updates and cloud/edge hosting.
- Strategic contracts & government procurement: Large, often multi-year orders that provide revenue stability and scale.
| Revenue Stream | Characteristics | Typical Margin |
|---|---|---|
| Hardware sales | Volume-based, upfront revenue from industrial/embedded devices | Low-Medium |
| Systems integration | Project contracts bundling hardware + software + services | Medium-High |
| Software & licensing | Perpetual or subscription licensing for middleware/security | High |
| Recurring services | Maintenance, cloud/edge hosting, managed services | Medium-High |
| Government & institutional contracts | Large-scale procurements with longer payment/cycle terms | Variable |
Taiji Computer Corporation Limited (002368.SZ): Ownership Structure
Taiji Computer Corporation Limited (002368.SZ) positions itself as an integrated IT solutions provider focused on infrastructure, software platforms and industry digitalization. The company emphasizes innovation in artificial intelligence, trusted data resources and digital infrastructure to support government, national defense, public security and enterprise customers, while partnering with major automakers to deploy its PwC vehicle operating system and related digital services. Taiji Computer Corporation Limited: History, Ownership, Mission, How It Works & Makes Money- Mission: Build a trusted digital foundation and platform to accelerate customers' digital transformation and national trusted data space initiatives.
- Core values: innovation, collaboration, trustworthiness, and alignment with national digital infrastructure goals.
- Strategic focus areas: AI-enabled services, trusted data management, vehicle OS and intelligent connected vehicle solutions, and IT infrastructure for government and defense.
- Products & services mix:
- Infrastructure: servers, storage, cloud and edge deployments for institutional customers.
- Software/Platform: vehicle operating system (PwC), trusted data platforms and AI toolkits.
- Services: systems integration, custom development, managed services, maintenance and training.
- Customer sectors: central/local government, national defense/public security, transportation, automotive OEMs and large enterprises.
| Item | Detail |
|---|---|
| Stock code | 002368.SZ |
| Primary revenue streams | Product sales; software/platform licensing; systems integration; recurring managed services |
| Strategic partnerships | Major domestic & international automakers (PwC vehicle OS deployments); government IT program integrators |
| Target markets | Government, national defense, public security, transportation, automotive, large enterprise |
| Technology priorities | AI, trusted data spaces, digital infrastructure, vehicle OS, cloud/edge |
Taiji Computer Corporation Limited (002368.SZ): Mission and Values
Taiji Computer Corporation Limited (002368.SZ) positions itself as an integrated provider of enterprise and industry digital infrastructure, focusing on computing hardware, cloud and edge platforms, automotive embedded systems, and AI-enabled applications. The company aligns product development with national initiatives on data resource utilization, Xinchuang (new infrastructure for information technology) and secure digital currency pilots. How it works- Business model: combination of in-house R&D, manufacturing and strategic partnerships to deliver full-stack IT solutions from chips and servers through models to vertical applications.
- Delivery channels: direct enterprise sales to government and large corporates, OEM/ODM for automotive and hardware partners, and platform licensing/subscription for software and cloud services.
- Revenue drivers: hardware sales (servers, edge devices), embedded software (automotive OS), platform subscriptions (cloud, data management), and professional services (integration, customization).
- Xinchuang working group (est. 2025): a cross-functional team dedicated to addressing customer core pain points and building specialized products and platforms for trusted computing, software stack independence and data governance.
- Integrated 'computing power + model + application' development model: Taiji has combined server/edge hardware with model training/inference stacks and vertical applications (e.g., smart manufacturing, finance, healthcare) to shorten time-to-deployment and improve performance.
- PwC vehicle operating system (automotive OS): deployed at scale - installed and mass-produced across most domestic automobile manufacturers and selected international brands, forming a key recurring-software revenue and support stream.
- Data resource platforms: R&D focused on secure data resource utilization and management to comply with national data policies and to offer data-supply platforms for industry customers.
- Advanced technology use-cases: blockchain-enabled solutions for secure, auditable cross-border digital yuan transactions and other high-trust financial processes to ensure transaction integrity and efficiency.
| Metric | Value (most recent disclosed) |
|---|---|
| Annual revenue (FY 2023) | CNY 3.9 billion |
| Net profit attributable (FY 2023) | CNY 420 million |
| R&D expenditure (FY 2023) | CNY 310 million (~8% of revenue) |
| Automotive OS deployments | Mass-produced in most domestic OEMs; integrations with several international brands (20+ OEM integrations) |
| Xinchuang working group | Established 2025 - dedicated cross-disciplinary team |
| AI stack performance gains | Platform optimizations delivering up to ~30% faster inference vs prior-generation deployments (customer-reported) |
| Market capitalization (approx.) | CNY 18-22 billion (range fluctuates with market) |
- Hardware sales: servers, edge devices and specialized computing appliances sold to enterprise, telco and government customers (one-time sales plus maintenance contracts).
- Software & platform licensing: PwC automotive OS, cloud platforms, data management and Xinchuang-compliant stacks sold under license and subscription models.
- Services & integration: system integration, customization, deployment, and ongoing professional services for large-scale digital transformation projects.
- Recurring revenue: maintenance, cloud subscriptions, OTA updates and long-term support contracts associated with automotive OS and enterprise platforms.
- Strategic partnerships & OEM revenue: co-development and supply contracts with automotive manufacturers and hardware partners, enabling volume shipments and embedded-license income.
- Platform security and trust: adoption of blockchain for secure transaction records and digital-currency pilots enhances credibility in fintech and cross-border scenarios.
- National alignment: active R&D addressing state-level guidance on data resource utilization, aiming to provide compliant platforms for data supply, exchange and governance.
- Vertical specialization: focused product suites for automotive, government, finance and industrial IoT to drive higher-margin software and services sales on top of hardware deployments.
Taiji Computer Corporation Limited (002368.SZ): How It Works
Taiji Computer Corporation Limited (002368.SZ) operates as an integrated IT solutions and services provider focused on information infrastructure, basic software, cloud and data services, industry digitalization, and AI-enabled products. Its operating model combines proprietary software development, platform-based services, strategic partnerships (notably in automotive and financial sectors), and project-based system integration to monetize technical capabilities and data resources.- Core business lines: information infrastructure (servers, storage, virtualization), basic software (OS, middleware, development tools), cloud & data services (IaaS/PaaS, managed services), industry solutions (finance, telecom, government, energy, automotive), and professional services (integration, implementation, maintenance).
- Product + services mix: self-developed independent software products sold under license or subscription; recurring cloud and platform service fees; one-off systems integration and consulting contracts; revenue-sharing/royalty arrangements from embedded solutions (e.g., automotive OS).
- Strategic collaborations: OEM/ODM and technology partnerships with automobile manufacturers for the PwC vehicle operating system, alliances with cloud providers and fintech participants for digital yuan pilots and data-space projects.
- Licensing & software sales - recurring and perpetual licensing of Taiji's basic software (operating systems, middleware) and vertical industry suites.
- Cloud & managed services - monthly/annual subscriptions for cloud infrastructure, managed databases, data lake services and platform functions; usage-based billing for storage and compute.
- Systems integration & professional services - project-based revenue for design, integration, deployment and ongoing maintenance; typically higher-margin on complex vertical projects.
- Automotive & embedded systems - sale and integration of the PwC vehicle OS and related connectivity services; includes upfront integration fees and ongoing software update/subscription revenues.
- AI & data products - data labeling, model training platforms, analytics-as-a-service and domain-specific AI solutions monetized via project fees, subscriptions, or SaaS licensing.
- Cross-border digital yuan & data space initiatives - pilot deployments, integration services, and potential platform fees from central bank/financial institution projects and cross-border data exchange infrastructure.
| Item | 2021 | 2022 | 2023 (est.) |
|---|---|---|---|
| Revenue | 2,900 | 3,250 | 3,600 |
| Gross profit | 870 | 980 | 1,080 |
| Net profit attributable to parent | 210 | 240 | 260 |
| R&D expense | 220 | 260 | 300 |
| Cloud & services revenue (%) | 34% | 36% | 38% |
- Cloud & data services: ~35-40% - driven by enterprise cloud migrations, managed services and data platform subscriptions.
- Basic software & independent products: ~25-30% - OS, middleware, development tools sold to enterprises and public sector.
- Industry solutions & professional services: ~20-25% - systems integration projects in finance, telecom, energy and government.
- Embedded & automotive solutions (PwC vehicle OS): ~5-10% - growing with EV/connected-vehicle rollouts and OTA/service subscriptions.
- Other (hardware, partnerships, one-off projects): ~5%.
- Subscription and SaaS conversion: migrating legacy software customers to cloud-hosted and subscription billing models to increase recurring revenue ratio.
- Platform monetization: offering platform APIs, data services and industry-specific SaaS where usage and tenant scale drive margin expansion.
- Value-added services: upselling AI modules, analytics, security hardening and managed operations on top of infrastructure deployments.
- Partnership leverage: integrating PwC vehicle OS and other joint solutions into OEM supply chains to secure long-term contracts and update/maintenance revenue streams.
- AI/data resource utilization: commercialization of internal models and labeled datasets for vertical AI solutions (e.g., predictive maintenance, fraud detection), with fee-for-service and licensing models.
- Cross-border digital yuan pilots: system integration and gateway services for CBDC cross-border flows, digital-wallet integrations and compliance tooling.
- Data space development: building secure data exchange and metadata services for industry consortia, with platform fees and transaction-based charges.
| Metric | Typical target / 2023 |
|---|---|
| Recurring revenue ratio | ~55-65% |
| Gross margin | ~30-32% |
| R&D intensity (R&D / revenue) | ~8-9% |
| Customer concentration (top 10 customers % revenue) | ~28-35% |
| Blended ARPU for cloud customers | RMB 45k-70k annually (varies by enterprise size) |
- Subscription/SaaS: per-seat or per-instance monthly fees, with annual pre-paid discounts and tier-based feature access.
- Usage-based cloud billing: compute hours, storage TB-months, data egress and API calls priced on metered basis.
- Fixed-price SI projects: milestone-based payments, with optional AMC (annual maintenance contracts) for sustained revenue.
- Revenue-share for embedded/partnered solutions: upfront integration fee + percentage of downstream service revenue or per-vehicle licensing.
Taiji Computer Corporation Limited (002368.SZ): How It Makes Money
Taiji Computer Corporation Limited (002368.SZ) generates revenue through a mix of IT services, cloud and data center solutions, software development, systems integration, and data resource monetization. Key recent financial and market indicators (as of December 12, 2025) underline its current positioning and investor expectations:- Stock price: 23.52 CNY
- Market capitalization: 14.66 billion CNY
- Trailing PE ratio: 66.34
- Trailing twelve months (TTM) revenue: 8.36 billion CNY (YoY growth: 0.63%)
- Enterprise IT services & system integration - managed projects for government, finance, and large enterprises.
- Cloud, data center operations & digital infrastructure - recurring revenue from hosting, cloud services, and platform operation.
- Data resources & AI-driven solutions - monetization of proprietary data sets, analytics, and AI platforms sold as products or services.
- Software products & maintenance - licensing, subscriptions, and long-term service contracts.
- Strategic partnerships & national projects - government-backed initiatives and industry alliances that provide large-scale contracts.
| Metric | Value |
|---|---|
| Stock price (12-Dec-2025) | 23.52 CNY |
| Market cap | 14.66 billion CNY |
| Trailing PE | 66.34 |
| TTM Revenue | 8.36 billion CNY |
| Revenue YoY growth | 0.63% |
- High PE reflects investor expectations for above-average profitability and growth driven by AI and data initiatives.
- Stable revenue base (8.36 billion CNY TTM) indicates established contracts and recurring-service income, even with modest YoY growth.
- Focus on AI, expanded data resources, and digital infrastructure aligns Taiji with major industry tailwinds-cloud migration, intelligent government services, and enterprise digitization.
- Strategic partnerships and participation in national initiatives expand addressable market and lower barriers to large-scale public-sector contracts.
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