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Public company info - KuangChi Science Ltd. , 00439.HK

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KuangChi Science Ltd., 00439.HK - Company Profile
Chairman Liu Ruopeng
Share Issued (share) 6,157,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Consumer Electronics
Corporate Profile Business Summary: The principal activities of the Group are in the research, and development and manufacturing of innovative products for future technology business and provision of other innovative technology service solution. Performance for the year: The Group’s revenue increased from approximately HK$60.8 million for FY2019 to approximately HK$99.5 million for the Period, an increase of approximately HK$38.7 million or 63.7%. The net loss of the Group decreased by approximately HK$214.3 million or 73% from approximately HK$293.7 million for FY2019 to approximately HK$79.4 million for the Period. Business Review The Company and its subsidiaries (collectively, the “Group”) are mainly engaged in the development of AI technology and related innovative products and provision of AI technology services and related solutions in various vertical fields (“AI Business”). For the 12 months ended 31 December 2020 (the “Period”), the Group recorded a total revenue of approximately HK$99 million and a net loss of approximately HK$79 million. The gross margin of the Group rose from 16.1% for the year ended 31 December 2019 (“FY2019”) to 38.8% for the Period. The substantial increase in gross profit rate was attributable to the new anti-COVID smart helmet launched by the Group during the Period, whose sales accounted for 63.8% of the revenue for the Period. Moreover, the Group optimised its business operations and strengthened internal management, which greatly reduced its related expenses and administrative expenses. Vertically Cultivate the Fields of Education and Police Related Business The Group has long been committed to the research and development of “AI” technologyrelated algorithms, a platform for big data analysis and professional AI-infused products for vertical industries based on these algorithms and platform. The Group’s AI algorithms were applied to aviation equipment such as Cloud and long-endurance drones in the early days, and later developed into the core business, creating an AI system with AI algorithm technology as its hit product. The AI system can be connected to a variety of fixed and mobile front-end hardware devices and empower them with AI. On this basis and with its long-term experience in system integration, the Company has integrated front-end hardware to develop integrated solutions, covering professional system integration, installation, debugging, operation and maintenance services. The Group’s “AI” technology-infused products have been playing a significant role in real-world scenarios. During the Period, the Group gradually expanded the application of relevant products in certain vertical fields. During the Period, in order to help fighting the COVID-19 outbreak, the Group responded quickly. Based on the experiences accumulated in AI technology over the years, it further innovated Algorithms and software leveraging on the “ smart helmet” hardware customised through a related party and launched an anti-COVID smart helmet. Integrated with infrared thermal imaging and empowered by its AI technology, the device is capable of capturing temperature efficiently on a real-time dynamic basis and intelligent big data analysis, featuring non-contact remote temperature measurement and quickscreening of people with a fever. It can patrol fevered-people at super high efficiency with insensible mobility, and is characteristic of being portable, non-disturbing, unnecessary to deploy, and mobile. During the Period, this product was quickly proved itself useful and reliable in places with high density of pedestrian traffic, wide range of coverage and assembly points of large groups. Therefore, this product was purchased by many customers as an epidemic prevention tool and sold to 41 countries and regions at home and abroad. At the same time, in view of the fact that the anti-COVID smart helmet has been well received in many places when epidemic prevention and control become normal, the Group is building an anti-COVID health information system for teachers and students in schools run by Shenzhen municipality based on the application of the anti-COVID smart helmet on campuses. Through collecting health big data, establishing on-campus epidemic records, it can improve the early warning mechanism for campus public health. By providing back-office live broadcast, remote command and other functions, the system can meet the needs for real-time coordination and remote management between competent authorities and schools, thus building a strong line of defense for campus safety. In the meantime, to strengthen public safety, the Group also further promoted and expanded the market based on the existing products and systems. The police smart helmet was widely praised at the police equipment expo in November 2020, and it was also recommended and promoted by public security departments for application. Pilot deployments were carried out in various places, including Beijing, Guangdong, Chongqing, Jiangsu and others. It significantly improved the functioning efficiency of relevant personnel. As the Group’s wearable smart products are being promoted to vertical fields such as public safety and education, the Group is also accelerating the research and development of other smart products. Prospects: The management believes that with the development of 5G network, Internet of things, and cloud computing technologies, the Company’s AI technology will be gradually applied to more vertical industries based on its development objectives and industrial needs, and be used to develop more application products according to users’ pain points and needs. There will be extensive application needs and great market prospects for AI technology in related fields.

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