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Public company info - Cybernaut International Holdings Company Limited , 01020.HK
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Cybernaut International Holdings Company Limited, 01020.HK - Company Profile
Chairman Zhu Min
Share Issued (share) 3,975,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry E-Commerce & Internet Services
Corporate Profile Business Summary: The Group are investment holding, manufacture and sale of paper converting equipment and other relating equipment, eCommerce, provision of internet education services and money lending. Performance for the year: The revenue generated from paper converting equipment business contributed approximately RMB9.0 million for the period from 1 January 2020 to 27 May 2020 (for the year ended 2019: RMB40.1 million). Business Review： In 2020, the Cybernaut Group might still be regarded as comprising segments of subsidiary groups, namely those engaged in the manufacture and sales of paper converting equipments (which was disposed in May 2020); money lending business; eCommerce business and internet online education services. During the year under review, the manufacturing businesses in China were adversely affected by the escalating trade war between U.S. and China. The Group‘s subsidiary segment business of manufacturing paper converting equipment of Cybernaut Group, operating in China was of no exception and suffered from the harsh competition and trade suppression resulted from the U.S.- China trade war. Facing huge reduced order size and market demand in the competitive world market, and the lockdown for production at the occurrence of Covid-19 epidemic in China, management decided to dispose the non-profit making subsidiary business in 2020. References were then made to the announcement of Cybernaut International Holdings Company Limited (the “Company”) dated 11 February 2020 in relation to the disclosable transaction regarding the disposal of 100 percent equity interest in Great Select Global Limited. Accura Machinery & Manufacturing (Taicang) Company Limited, a company established under the laws of the PRC with limited liability and a direct wholly-owned subsidiary of the Great Select Global Limited, a company established under the laws of the Hong Kong with limited liability and an indirect wholly-owned subsidiary of the Company, was disposed at cash consideration of HK$7 million. And this disposal of the subsidiary segment engaged in the manufacturing paper converting equipment of Cybernaut Group was then completed with settlement on 27 May 2020. The subsidiary of Cybernaut Group engaged in money lending business in Hong Kong under the Money Lenders Ordinance (“MLO”, Chapter 163 of the Laws of Hong Kong), Time Credit Limited (TCL) prudently maintained business operation steadily with the existing market strategy in 2020. Moreover, the Hong Kong government authority periodically advises borrowers to be aware of the risks of increased interest rate and the implication of the unstable and uncertain economic environment. During the year under review, the subsidiary generated revenue mainly from the first mortgage property loans to customers for their long and short term financial needs. To maintain credit control efficiency, TCL did not conduct business to SMEs at retail level, and potential borrowers were mainly sought from the social and business networks of the management and marketing team. With the high net worth customer base and partnership alliance on sub-mortgage arrangements, the TCL loan portfolio continued to target on serving potential clients like Hong Kong Listco and big corporate clients under the unfavourable market conditions in Hong Kong at the outbreak of Covid-19 pandemic, and contribute a steady income stream to the Cybernaut Group in 2020. In 2020, The Group‘s eCommerce business subsidiary with the trade name of “VTZero” met the expanded overseas market demands under the Covid-19 pandemic, despite the global political unrest and economic fluctuation; and the subsidiary had recognized good revenues in the product sales trends and product-mix for prominent sales of the second-handed and refurbished mobile phones of good brand names. Nowadays, local online marketplaces are booming and are launched mostly by traditional local retail enterprise and since they have years of reputation that people are preferred to shop there instead. As a result, VTZero as a cross-border eCommerce trading company, has evaluated the online shopping habit country by country and explored more online marketplace platforms to sustain the business growth. With prior years’ experience on sourcing used smartphones from America and Japan, the business management branched out more on the reverse logistic chain through internet to contribute additional value to the eCommerce business during 2020. Despite the U.S.-China trade war and the Covid-19 pandemic, the subsidiary could barely reduce its market risks with product diversification strategy to maintain its profit margin with an overall increase of business turnover during 2020. Other than selling mainly through eBay and Amazon, VTZero also sold products through different selling channels and online marketplaces like Rakuten in Germany, cDiscount, Fnac and Darty in France etc. through the established different business strategic alliances with the local agents in different countries including Europe and North America during the year under review. During 2020, the subsidiary segment of Cybernaut Group engaged in the online education business with continued great momentum of demands of last year, and due to the lockdown and hygiene restrictions in regulation, expanded with good returns and increased market developments in the EdTech and online education industry in China. The subsidiary management through the VIE arrangements had closely monitored the changes of online business to provide users with the updated information and software accessible through the education platform and packages, so as to enhance the segment business growth strengthened with good resource allocated for market expansion. Prospects: In recent years, China’s trading partners and investors have been closely watching the health of the world’s second-largest economy as the trade war between U.S. and China intensified, takes a heavier toll on businesses and investment, and been fuelling worries of a global recession. The China economy grew at the slowest pace in more than four decades in 2020, while facing the strong headwinds ahead in global competition, but remained on course to be the only major economy in the world to have expanded, with the merit on its prompt, strict virus containment measures and emergency relief for businesses to help the economy recovery since the Covid-19 coronavirus outbreak. The coronavirus disruptions around the world has fuelled the demand for the Chinese goods and exports are expected to grow more than last year, however, Covid-19 will still a major drain on the growth of Chinese economy in 2021. Hong Kong continues to have an active and growing money-lending market. Since 2016, the Hong Kong Government has adopted a four-pronged approach to enhancing the compliance standards of non-bank money lenders. The Hong Kong Companies Registry (CR), which currently performs the role of Registrar of Money Lenders (“Registrar”) pursuant to the Money Lenders Ordinance (MLO), has recently released a new Guideline on Fit and Proper Criteria for Licensing of Money Lenders (“Fit and Proper Guideline”) and a Guideline on Submission of Business Plan by Applicant of a Money Lenders Licence (“Business Plan Guideline”). And the new guidelines (“Guidelines”) will be effective from 1 April 2021. In regard to the lending business segment of the Cybernaut Group, TCL will continue granting mortgage loan to clients in a prudent manner, so the lending subsidiary business can well meet the needs for the Hong Kong property market accordingly. Facing the Covid-19 pandemic in Hong Kong, TCL will be more cautious to the market demand and defaulting possibility of customers. TCL will also pay close attention on the application of the updated MLO and Guidelines, and with its tight credit policy to grant mortgage loans or for loan renewals, strictly to customers only of good reference check. The Group‘s subsidiary engaged in eCommerce business, has majority of business specialized on B2C retailing through the platforms including eBay and Amazon will increase its product-mix and expand market developments. Besides, selling through other different marketplaces in different countries, for examples: Rakuten in Germany. cDiscount, Fnac and Darty in France, and ePrice in Italy; VTZero in eCommerce can diversify market risks and expand with more business, as these European marketplaces are growing rapidly and are mostly welcomed by their local people. Today, the eCommerce industry is highly competitive and eCommerce activities are difficult to manage. According to a study by Paypal, approximately 86 percent of mid to large eCommerce enterprises’ had problems with logistics and fulfilling orders, 43 percent of the merchants’ cash flow also suffered due to coronavirus Covid-19 outbreak in Hong Kong during 2020. Online retailers today are not just moving beyond competing on price to competing also on logistics, but have to strive for survival through alliance with reputable delivery companies on prompt and quality services, especially at the time of the Covid-19 pandemic and lockdown situations. To enhance the market penetration overseas, the eCommerce subsidiary management of the Company has liaised with different local business partners of the existing alliance and logistic network, by selling more diversified new eCommerce products to overseas consumers with an efficient delivery arrangement. In 2020, the online education markets in China was more vibrant and growing competitively. With the coronavirus pandemic under control in early spring 2020 in China, there are now fewer courses and fewer students attending classes than before, and some people even find that the online education more helpful and convenient. In fact, the competition among online education companies become increasingly brutal. Technology giants including Alibaba, Tencent, and ByteDance want to cash in on their online traffic in the education industry. ByteDance has the education business sector built through acquisitions and self-incubation in English language training, K12, higher education, and education hardware segments. Tencent’s investment arm has made 34 investments in education with a total investment of approximately RMB11.7 billion, and has invested in K12, quality education, preschool education, and even examination preparation segments. Covid-19 epidemic has impacted offline education more directly but it also means online education has become more crowded and harder to compete. Only leaders and tech giants of online education are capable of sector consolidation that many analysts have believed that they will reshape the online education sector in future. Facing the keen competition, The Group‘s online education subsidiary management has engaged highly qualified education expertise and supportive staff through the existing VIE arrangements to provide high-quality updated education packages and online platforms for customers, and monitored closely the market needs and changes of the online education industry in China.

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