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Public company info - Huifu Payment Limited , 01806.HK

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Huifu Payment Limited, 01806.HK - Company Profile
Chairman ZHOU Ye
Share Issued (share) 1,314,000,000
Par Currency Hong Kong Dollar
Par Value 1.0E-4
Industry Other Financials
Corporate Profile Business Summary: The group is a leading independent third-party payment service provider in China, focusing on merchant payment and fintech enabling services. Performance for the year: The Group’s revenue amounted to approximately RMB3,683.5 million for the year ended 31 December 2019 . The Group’s gross profit increased by around 11% from approximately RMB889.5 million for the year ended 31 December 2018 to approximately RMB985.4 million for the year ended 31 December 2019. The profit of the Group for the year ended 31 December 2019 increased by around 39% to approximately RMB242.6 million from approximately RMB174.6 million for last year. Business Review: The group position as a digital solution provider with the focus on omnichannel payment. Under the current payment industrial pattern, clearing houses, commercial banks, wallet issuers and payment institutions have established clearer positions. Huifu Payment, as a licensed institution, can efficiently integrate diverse payment methods, including bankcards, wallets, bank accounts and cash management tools, and deliver digital omni-channel payment solutions for different types of merchants. Our omni-channel payment product capacities have shown rapid improvement. In 2019, the number of wallet’s QR-code-scanning transactions exceeded 2.4 billion, reaching the peak of 13 million transactions per day. The group made efforts to upgrade SaaS from a service provider of information and product to a transaction service provider by strengthening the digital solutions capabilities of “Payment + SaaS”. In 2019, The group have newly added 255 cooperative SaaS institutions with accumulated number of cooperative SaaS institutions reaching 392. Following the successful launch of “Adapay”, which is a lightweight “Payment + SaaS” product, the customers’ docking time has been greatly reduced from several weeks to three days, with 80% of the customers achieved automatic operating services. Our industrial solution business has been growing at a fast pace. The scale of air travel business transactions increased by more than 42%, and The group established cooperation with more than 100 well-known clients in the industry chain, representing a year-on-year increase of 148% in terms of cross-border and international business payment transaction volume. By launching digital operation services in the integrated merchants acquiring business, the operating gross margin increased by 12.7% year-on-year. Based on the above for the year ended 31 December 2019, the payment volume through four business directions amounted to approximately RMB2,185.2 billion in aggregate, representing a growth of around 21% as compared to last year. Such increase was mainly attributable to integrated merchants acquiring, SaaS service and cross-border & international business. Although the scale of air travel business transactions increased by 42% year-on-year, the increase in payment volume was partly offset by industry solution as a result of the influence of internet financial regulatory policy. Prospects: Amid the outbreak of COVID-19 at the beginning of 2020, remote service has become a trend, creating an imminent need of digitalization for merchants. We are the pioneer in initiating digital transformation among comparable companies and completing the full implementation in 2020. The group will strive for digital marketing and turning towards innovative solutions for emerging digital scenarios. The group will promote the online marketing, for example the digital marketing tools, and support merchants to gain from private domain through the development of mini programs. The group will strive for emerging scenarios in relation to social e-commerce, industrial chain SaaS and B2B matchmaking platforms and deliver scenario solutions with the API-based method. The group will deepen the digital operation and enhancing technology, data processing capabilities and management effectiveness. The group will apply industry-leading mobile and cutting-edge technologies to deeply reach scenarios and optimize the user experience. The group will also implement self-service data acquisition and intellectual prediction to enhance data asset management capabilities; and build a digital management system to achieve online collaboration and management over financial, personnel and official business. With reference to the market situation and development strategies, The group remain optimistic about the business growth of the Company in 2020, as it is expected that all of its performance indicators will increase steadily. The profitability of existing businesses is also expected to increase on a sustainable basis, and the number of merchants and development scale of innovative businesses will expand rapidly. Besides, various operating costs of the Company will continue to decrease and product development efficiency will be further improved.

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