EQS-News / 16/08/2019 / 20:57 UTC+8
*Goldpac Announces 2019 Interim Results*
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*Revenues from platform and service segment increased **by 37.7%* *YoY*
*O**verseas market achieved steady growth**,* *revenues* *surged by 36.8%
YoY*
*I**nterim dividend of HK**4* *cents declared**, **dividend **payout **ratio
**reaches 34.3**%*
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(16 August 2019, Hong Kong) Goldpac Group Limited ("Goldpac" or the "Group",
03315.HK), a global leading Fintech company, today announced the interim
results for the six months ended 30 June 2019.
*Key Highlights*
During the first half of 2019, the Group has proactively taken steps to
firmly implement company strategies. Following market trends, the Group
continuously enriched and optimized its business structure and achieved
steady progress.
During the period, both total revenues and net profit realized stable
growth. Total revenues increased by 3.2% year-on-year to RMB653 million, net
profit increased slightly to RMB87 million. Based on the Group's steady
profitability and healthy financial condition, the Board has declared an
interim dividend of HK4 cents, a dividend payout ratio of 34.3 %.
Attributed to the product portfolio upgrade and revenue structural
optimization, the gross profit margin remained stable as compared with the
first half of 2018 and improved as compared with the second half of 2018.
The R&D expenses was RMB51.4 million, mainly used to secure chips,
solutions, software and hardware development of artificial intelligence
("A.I.") self-service kiosks, and overseas markets. Furthermore, sales and
distribution costs were effectively controlled and decreased by 2.3%
year-on-year.
Benefiting from the high-end product strategy, the Group's product portfolio
was further improved and the revenue contribution from high-end products
continued to increase. As a result, the market share and profitability
indicators continue to see the Group ranked among the leading levels of the
industry. In May 2019, the National Development and Reform Commission and
the Ministry of Transport of China issued a national ETC (Electronic Toll
Collection) implementation plan, with the aim to increase the utilization
rate of the highway non-stop quick tolls to more than 90% by the end of
2019. The ETC market is growing at an accelerated rate and is estimated to
be a new business growth driver for the second half of 2019.
The shift of growth drivers is gathering momentum. Driven by the growth from
A.I. self-service kiosks and innovative payment products, revenues from
platform and service segment increased by 37.7% year-on-year to RMB182
million and its proportion to the total revenues increased up to 28% from
20% in 2018. The segment gross margin kept a high level of more than 40%.
The Group's overseas markets also achieved a rapid growth. Overseas revenues
increased 36.8% year-on-year to RMB46.2 million, driven by the expansion and
structural optimization of overseas teams, as well as the implementation of
overseas strategy.
*Outlook*
*Actively Responding to the National Strategy and Participating in the
Construction of the Guangdong - Hong Kong - Macao Greater Bay Area*
Relying on the rich experience and technologies accumulated in the field of
secure payment in the past 26 years, the Group will harness the potential
presented by the cooperation in the Guangdong - Hong Kong - Macao Greater
Bay Area ("GBA"). With a variety of mature total solutions, the Group will
promote the integration of the GBA and pursue seamless connectivity in
transportation, social security and other sectors with adaption of Internet
of Things ("IoT"), cloud computing and other cutting-edge technologies. As a
future Fintech innovation highland within the GBA, the construction of
"Zhuhai Fintech Center" is on schedule and it is expected to be completed by
2020.
*Tapping into the Market Potential of A.I. Self-service Kiosks*
In response to the Chinese government's "Internet+" initiative to further
deepen reforms in government service, the A.I. self-service kiosks developed
by the Group met the needs for a "One Stop Shop" government service in
finance and social security scenarios. Its turnover keeps growing and is now
unleashing great potential. In the future, the Group will continue to
increase its investment in A.I. self-service kiosks and to further tap into
the potential of the business through a variety of flexible ways.
*Accelerating the Development of Overseas Markets*
The Group will continue to increase investment in personnel and R&D for the
overseas market to maintain its sound growth momentum and to make the
overseas market an important growth pillar of the Group.
*Proactive Involvement in the Digital Transformation of Banks*
The Group is developing a platform for the GBA's next generation credit
payment system. Through the integration of big data analysis, cloud
computing and other emerging technologies with online and offline payment,
cross-border payment and international exchange, consumer credit and other
business links, the Group is combining innovative financial elements such as
virtual banking and digital asset protection, to diversify the financial
business sector's use-case scenarios.
Document: http://n.eqs.com/c/fncls.ssp?u=PNKBLOYJIS [1]
Document title: Goldpac Announces 2019 Interim Results
16/08/2019 Dissemination of a Financial Press Release, transmitted by EQS
Group.
The issuer is solely responsible for the content of this announcement.
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(END) Dow Jones Newswires
August 16, 2019 08:57 ET (12:57 GMT)
