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Public company info - China e-Wallet Payment Group Limited , 00802.HK
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China e-Wallet Payment Group Limited, 00802.HK - Company Profile
Chairman -
Share Issued (share) 2,744,000,000
Par Currency Hong Kong Dollar
Par Value 0.04
Industry E-Commerce & Internet Services
Corporate Profile Business Summary: The Group is principally engaged in provision of internet and mobile application and distribution of computer-related and mobile-related electronic products and accessories. Performance for the year: For the year ended 31 December 2019, the Group reported a total revenue of approximately HK$93.9 million representing an increase of 3.5% compared to approximately HK$90.7 million in the same period in 2018. The Group’s loss for the year was approximately HK$75.7 million compared to loss of approximately HK$53.5 million in the same period in 2018. Business Review： “Internet and Mobile’s Application and Related Accessories” is the Group’s main business. The Group specialized in providing programming and advertising solutions in mobile platform with branch office in Hong Kong, Shenzhen and Shanghai. The programming teams of the Group have extensive experience on developing mobile application and interactive virtual reality technologies for well-known companies in Hong Kong and overseas. The Group is also engaged in the business of distribution of computer-related and mobile-related electronic products and accessories. The Group believe that the business of “Internet and Mobile’s Application and Related Accessories” as a key growth area, is in-line with the growth of the mobile and gaming industry and in particular in application development for merchants, online gaming, interactive virtual reality experience and utilities applications for mobile platform and mass advertising. In the financial year of 2019, the Group recorded a revenue of approximately HK$93.9 million, representing a an increase of 3.5% compared to the same period in 2018. The Company already procured thousands of merchants to participate in its settlement application services. In order to capture its market share and procure sizable merchants in a short period of time, the Company would paid earnest deposits to these merchants. The Company would derived marketing plan in order to give incentives by way of E-coupons or discounts to customers who use its designated settlement application services at these merchants and the earnest deposits would be utilized accordingly. In return, the Company would share the transaction fee from the settlement application services. The Group reported a net loss of approximately HK$75.7 million for the year ended 31 December 2019. The increase of net loss was mainly attributable to the increase of selling and administrative expenses. Prospects: The Group had continued the efforts to consolidate and realign its businesses to enable the Group to achieve improvements in its financial position. The Group will utilise its existing technical knowledge and programmers to diversify its income stream and will continue to work towards, attaining a stable platform for sustainability and basis for any potential growth. By leveraging the knowledge on its interactive virtual reality programming on different business sectors, such as animation and culture, the Group obtained the license from the largest Japanese animation studio to conduct an interactive animation exhibition, named “Dragon Ball Super-Immersive Lab” in Hong Kong during 2019. The Group will continue to explore the potential of this business opportunities and utilize its resource with prudence in the future. Furthermore, the outbreak of novel coronavirus COVID-19 has cast a confronting shadow over the growth prospects for the PRC. The PRC government has recently implemented various contingency measures such as travel and work restrictions in certain provinces and municipalities. The Board expects that financial results and the operations of the Group during 2020 will be impacted. While it remains uncertain as to when the COVID-19 epidemic might end and the PRC economy might fully recover, the Board will continue to monitor and assess the situation with respect to COVID-19, and remains committed to mitigate any adverse risk or impact COVID-19 may have on the operating and financial performance of its business in the PRC.

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