Analysis Report on Inventory Turnover and Operational Efficiency of TeamTop (600410)

[0][1].

Indicator	TeamTop	Peer Companies Average	Industry Average	Outperforms Industry
Inventory Turnover (times/year)	3.31	2.10	2.50	+32.4%
Inventory Turnover Days (days)	109	171	144	35 Days Optimized
Accounts Receivable Turnover (times/year)	4.25	2.80	3.20	+32.8%
Total Asset Turnover (times/year)	0.72	0.55	0.60	+20.0%

TeamTop has an inventory turnover rate of 3.31 times per year, equivalent to approximately 109 inventory turnover days, significantly outperforming the following peer companies[1][2][3].

Company	Stock Code	Inventory Turnover (times/year)	Inventory Turnover Days (days)
TeamTop	600410.SS	3.31	109
DHC Software	002065.SZ	1.62-1.92	187-222
Neusoft	600718.SS	2.03-2.82	128-177
China National Software	600536.SH	1.64-2.41	149-219
Industry Average	-	2.50	144

• Inventory Management Efficiency
  : Outperforms industry average by 32.4%, outperforms peer companies average by 57.6%
• Accounts Receivable Management
  : Turnover rate of 4.25 times/year, demonstrating strong accounts collection capability
• Asset Utilization Efficiency
  : Total asset turnover of 0.72 times, higher than the industry average of 0.60 times
• Liquidity Management
  : Current ratio of 1.35, with robust debt-paying ability

1. Business Structure Advantage
   : The company focuses on IT system solutions and digital services, with relatively short project cycles and low risk of inventory backlog[1]

2. Supply Chain Management Capability
   : The company has established an efficient procurement and inventory management system, reducing the turnover days of raw materials and inventory goods

3. Customer Structure Optimization
   : The company’s customers are mainly high-quality clients such as governments, financial institutions, and operators, with high project payment collection and delivery efficiency

4. Results of Digital Transformation
   : The company promotes the “Cloud Cheng Cloud Sheng” strategy, optimizing operational processes through digital means

The IT services industry’s inventory turnover shows the following overall characteristics[4][5]:

• Industry Average Inventory Turnover
  : Approximately 2.50 times/year (inventory turnover days of approximately 144 days)
• Industry Characteristics
  : Inventory turnover rates of software service-oriented enterprises are generally higher than those of hardware manufacturing enterprises
• Competitive Landscape
  : Leading enterprises such as TeamTop lead the industry in operational efficiency by virtue of scale advantages and management capabilities

1. ✅
   Leading Inventory Management
   : Inventory turnover rate outperforms industry average by 32.4%, inventory turnover days are 35 days optimized compared to industry average
2. ✅
   High Comprehensive Operational Efficiency
   : Multi-dimensional operating indicators outperform peer companies average by 33.4%
3. ✅
   High-quality Asset Operation
   : High inventory turnover rate and accounts receivable turnover rate demonstrate high-quality operation and management capabilities
4. ✅
   Low Liquidity Risk
   : Current ratio of 1.35, with good financial stability

: TeamTop has significant operational efficiency advantages in the IT services industry. Its efficient inventory management and asset operation capabilities provide strong support for the company’s sustainable development, making it a high-quality IT services target worthy of attention.

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[0] Gilin AI Financial Database - TeamTop (600410.SS) Financial Analysis Data

[1] TeamTop Technology Co., Ltd. 2023 Annual Report (http://stockn.xueqiu.com/SH600410/20240424029927.pdf)

[2] DHC Software (002065) Financial Analysis Report (https://pdf.dfcfw.com/pdf/H3_AP202304271585937659_1.pdf)

[3] Neusoft Corporation 2024 Annual Report (http://static.cninfo.com.cn/finalpage/2025-04-29/1223383841.PDF)

[4] China Electronics Information Industry Group Co., Ltd. 2024 Annual Tracking Rating Report (http://qxb-pdf-osscache.qixin.com/AnBaseinfo/d6b0ae48103cba97065f9918d258bd6a.pdf)

[5] Sunfonder Technology 2024 Annual Report (http://notice.10jqka.com.cn/api/pdf/2a480882dca9b33f_1744964895/讯方技术:2024年年度报告.pdf)