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Public company info - Sprocomm Intelligence Limited , 01401.HK
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Sprocomm Intelligence Limited, 01401.HK - Company Profile
Chairman Li Chengjun
Share Issued (share) 1,000,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Consumer Electronics
Corporate Profile Business Summary: The Group is an ODM mobile phone supplier based in the PRC, primarily engaged in research and development, designing, manufacturing and sale of mobile phones, PCBAs for mobile phones and IoT related products, targeting emerging markets. Performance for the year: The Group’s total revenue for the year ended 31 December 2019 increased by 5.9% to RMB3,117.6 million as compared with RMB2,943.7 million for the year ended 31 December 2018. Business Review The year 2019 is a fruitful year for the Company as it achieved two important milestones during the year. First of all, the Company reached its 10-year milestone with the continuous support of dedicated employees and loyal customers. Over the past 10 years, the Company carefully implemented its business strategies and devoted enormous effort to the research and development of telecommunication products, building stable relations with its business partners and exploiting business opportunities in fast-growing markets. All that hard work and determination paid off. The Group has built a solid foundation in the China’s mobile phone ODM market and it is currently one of the leading market players. Following the 10-year anniversary, shares of the Company were successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) on 13 November 2019 (the “Listing Date”). The successful listing further enhances the Company’s corporate image and confidence for future business development. The Group, as one of the leading players in the China’s mobile phone ODM market, continues to focus on developing its research and development capability, expanding its product portfolio and targeting emerging markets. During the year ended 31 December 2019, global economy was adversely affected by economic policy uncertainties and escalating US-China trade war. Global consumers were more conscious on spending. To reduce the adverse impact from the weakening economy, the Group’s sales and marketing team devoted significant amount of effort to promote new products to existing customers, explore business opportunities with new customers and in new locations. While the Group continued to have substantial revenue from India, the Group had successfully expanded its markets in China and Algeria during the year ended 31 December 2019. The Group recorded 200.5% and 30.9% revenue increment from China and Algeria as compared with 2018, respectively. During the year ended 31 December 2019, the Group recorded a remarkable growth in the sales of its IoT products, contributing revenue of RMB127.7 million to the Group (2018: RMB66.0 million). The Group successfully entered into framework sales agreement with Ant Financial (Hainan) Digital Technology Limited Company* ( 螞蟻金服（海南）數字技術有限公司, “Ant Financial”) for product validation and supply of Ali-POS (point of sales) devices supported with facial recognition feature (face ID). Ant Financial is a subsidiary of Zhejiang Ant Micro Financial Services Group Co,. Ltd* ( 浙江螞蟻小微金融服務集團股份有限公司, formerly known as Zhejiang Alibaba E-commence Company Limited* (浙江阿里巴巴電子商務有限公司)), who operates Alipay, a worldwide mobile and online payments platform. Driven by the business cooperation with Ant Financial and the increased sales of IoT related products and PCBAs for smartphones, the Group’s total revenue for the year ended 31 December 2019 increased by 5.9% to RMB3,117.6 million as compared with RMB2,943.7 million for the year ended 31 December 2018. On the other hand, the increased sales proportion of PCBAs reduced the Group’s gross profit margin from 8.9% for the year ended 31 December 2018 to 7.3% for the year ended 31 December 2019, as PCBAs had a lower gross profit margin than smartphones and IoT related products. The impact of the decline in gross profit margin was partially offset by the increase in other gains and income, resulting in a decrease in net profit for the year ended 31 December 2019 by 14.1% to RMB37.8 million as compared with RMB44.0 million for the year ended 31 December 2018. Prospects: 2020 will be a challenging year for the world. An outbreak of novel coronavirus (“Coronavirus”) erupted and spread rapidly across the globe. While China and other countries put their primary focus to control the spread of the Coronavirus, global business activities and global economy were materially and adversely affected. The Directors believe that the Coronavirus will also impact the global mobile phone market and the Group’s financial performance for the first half of 2020. In the long run, the Group’s business growth is expected to be driven by (i) the huge population and the increasing disposable income of the Group’s target sales locations; (ii) increasing demand for IoT products; and (iii) the roll-out of 5G telecommunication network. In order to capture the potential market opportunities, the Group will continue to expand its production capacity, enhance its research and development capability, enrich its product portfolio and increase its sales and marketing effort to diversify its geographical locations. The Group has implemented appropriate business strategies for its future development.

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