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Public company info - Duiba Group Limited , 01753.HK
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Duiba Group Limited, 01753.HK - Company Profile
Chairman Chen Xiaoliang
Share Issued (share) 1,077,000,000
Par Currency U.S. Dollar
Par Value 1.0E-5
Industry E-Commerce & Internet Services
Corporate Profile Business Summary: The Group is principally involved in user management Software-as-a-Service (“SaaS”) platform business and interactive advertising business. Performance for the year: For the year ended 31 December 2019, the Group recorded a total revenue of RMB1.7 billion (2018: RMB1.1 billion), with an increase of approximately 45.3% from last year. During the year ended 31 December 2019, the Group recorded gross profit of RMB567.5 million (2018: RMB428.9 million), which increased by approximately 32.3% as compared to the year ended 31 December 2018. The gross profit margin was approximately 34.4% (2018: approximately 37.7%). For the year ended 31 December 2019, loss attributable to the shareholders of the Group amounted to RMB196.8 million (2018: RMB291.6 million). Basic loss per share decreased to RMB21.9 cents (2018: RMB44.0 cents). For the year ended 31 December 2019, the Group’s adjusted profit was RMB340.0 million (2018: RMB205.2 million), representing a growth of 65.7%. the Group's adjusted net profit margin increased to 20.6% (2018: 18.0%). Business Review 1.User Management SaaS Business Our user management SaaS platform is designed to help businesses attract and retain online users in a cost-effective manner, by offering various fun and engaging user management tools including reward points operation tools, marketing campaign tools and check-in tools to boost mobile app user activity and participation on apps. Having initially launched the Group's user management SaaS platform on a free-of-charge model in order to expand the Group's customer base, the Group began charging for the Group's user management SaaS solutions on a pilot basis in April 2018. Meanwhile, the Group has been extending user management SaaS solutions to serve offline enterprises. As at 31 December 2019, paying customers which used the Group's charged user management SaaS services increased to 645 (2018: 373) including 376 app developers which are online businesses (2018: 272) and 269 offline businesses (2018: 101). For the year ended 31 December 2019, the average charge per paying customer of online businesses, large offline business and small offline business was about RMB54,000, RMB185,000 and RMB25,000 respectively. The number of newly signed contracts (including renewed contracts) for the Group’s user management SaaS business reached 649 in 2019 (2018: 378). The total value of the Group's newly signed contracts (including renewed contracts) in 2019 was approximately RMB43.4 million (2018: approximately RMB9.8 million). Revenue from the Group's user management SaaS business increased significantly by 146.4% to RMB33.7 million (2018: RMB13.7 million). The sales and marketing strategy of the Group's user management SaaS business for offline businesses is to actively explore cooperation opportunities with top brands in several sectors including retailing, catering, banking and new media. In 2019, the Group made breakthroughs in expanding the Group's banking customer base. Among the ten contracts with the highest contract value of the newly signed contracts (including renewed contracts) in 2019, the customers of eight contracts were banking customers. The total number and the total value of the Group's newly signed contracts (including renewed contracts) with banking customers in 2019 was 65 (2018: 5) and RMB9.7 million (2018: RMB0.7 million), respectively. We cover a wide variety of different user traffic, and have accumulated certain mainstream and high-quality customers such as large leading apps, WeChat’s public accounts and top brands in offline businesses. These businesses have a large user base and demand for user management SaaS services, and the Group believes they present a great untapped potential. 2.Interactive Advertising Business In 2015, the Group pioneered and launched its interactive advertising business, which aggregated the traffic of different app scenarios, systematically managed content activities, and achieved large-scale monetization through advertisements, thereby achieving a win-win situation for each of the advertisers, media partners and users. Advanced big data analytics and AI technology also provides robust support to the innovation and operations of the Group's interactive advertising platform. the Group generally charges the Group's interactive advertising customers based on the performance of advertisements. The majority of the Group's revenue from the Group's interactive advertising business during the year ended 31 December 2019 was generated from the CPC (cost per click) model under which the Group charged customers only if viewers interacted with the Group's advertising tools and were directed to the mobile internet page designated by the advertisers. For the year ended 31 December 2019, the revenue from the Group's interactive advertising business surged by 45.7% to RMB1.6 billion (2018: RMB1.1 billion). 43% of the revenue was contributed by the e-commerce industry and 44% of the revenue was contributed by the financial industry. Among the top 20 ultimate advertisers in terms of revenue contribution in 2019, five customers were e-commerce platforms operated by listed companies and seven customers were listed financial enterprises. This business segment maintained a rapid growth and remained a major growth driver of the Group. As at 31 December 2019, 90% of the Group's interactive advertising platform’s audience came from non-tier-one-cities. As a result, the Group will benefit from the incremental value of advertisements targeted at consumers in non-tier-one-cities with increasing consumption penetration. Currently, advertisers such as financial enterprises and e-commerce platforms with increased penetration to lower tier cities will increase their spending on interactive advertisement, which will be a key driver for the Group's growth in coming years. Based on the synergy effect from SaaS business, the Group endeavors to create various traffic scenarios for content distribution channels and immerse experience for users to ultimately help content distribution channels realize a structural increase in income. For example, the Group helps media channels embed with mission-based system to enhance user retention rate as well as to achieve high profitability. The Group has also made persistent efforts to upgrade its advertising technology capability and provide automated and customized services to both content distribution channels and advertisers online through the Group's interactive advertising platform consisting of the media management platform and the smart advertising system. As at 31 December 2019, the Group had designed more than 14,000 advertising campaigns, most of which were the first-of-their-kind on the market. During the year ended 31 December 2019, the average revenue per chargeable click under the CPC model of the Group's interactive advertising platform increased to RMB0.37 (2018: RMB0.35) while the average CTR (click-through rate) of the Group's interactive advertising business reached 27.1% (2018: 26.3%) through the Group's continuing efforts to upgrade products and technology. 3.Research and Development During the year ended 31 December 2019, the Group continued to increase investment in research and development. As at 31 December 2019, the number of employees from the Group's research and development department was 363, accounted for 52.4% of the Group’s total employees, which resulted in a 20.0% increase in the Group’s research and development expenses from RMB88.8 million in 2018 to RMB106.6 million in 2019. In order to improve and optimize the Group's algorithms, the Group launched new technologies called “Feng Huo Tai” (烽火台) and “Ba Gua Tai”(八卦台). “Feng Huo Tai” has highly advanced realtime data analysis capability and instant and precise audience targeting capability, meanwhile, “Ba Gua Tai” has significantly improved the efficiency of new products tests in the research and development process. Prospects: As a leader and pioneer in user management SaaS business and interactive advertising business in the PRC, the Group will continue to utilize the Group's professionalism and commitment to bolster the Group's service standards and quality. the Group will help more enterprises in user acquisition, retention and monetization. According to Shanghai iResearch Co., Ltd., the market size of user management SaaS for both online and offline business in China is expected to grow rapidly to RMB41.9 billion in 2023, representing a CAGR (compound annual growth rate) of 56.8% from 2018, while the market size of interactive advertising business in China is expected to grow rapidly to RMB13.5 billion in 2023, representing a CAGR of 44.5% from 2018. Both are massive and unexplored markets where the Group has already gained a substantial head start. the Group is committed to retaining the leading position in user management SaaS and interactive advertising technology in China.

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