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Public company info - Leadway Technology Investment Group Limited , 02086.HK
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Leadway Technology Investment Group Limited, 02086.HK - Company Profile
Chairman Jiang Hao
Share Issued (share) 320,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry IT Hardware
Corporate Profile Business Summary: The Group is principally engaged in financial technology and smart living business, and financial services and investment business. Performance for the year: For the year ended 31 December 2019, the Group’s revenue increased substantially by 20% to HK$165.7 million (2018: HK$137.7 million); gross profit was HK$91.4 million (2018: HK$74.4 million) with a gross profit margin of 55% (2018: 54%). Loss for the year reduced to HK$8.3 million (2018: HK$23.5 million). Basic loss per share for the year was HK2.584 cents (2018: HK7.339 cents). Business Review: In 2019, it is undisputable that unfavorable macro-economic environment and the tension of the trade war between China and U.S. gave us a turbulent business condition. However, with a substantial improvement in revenue in 2019, it is evident that the Group was leveraging the competitive edge well under volatile environment. Therefore, we are confident to cope with the imminent economic challenges ahead. Financial Technology and Smart Living The Group’s financial technology and smart living segment mainly included smart card and related products business. This segment recorded a revenue of HK$165.7 million during the year of 2019, an increase of 20% as comparing to HK$137.7 million of 2018. The improvement was mainly attributable to the result of resumption of bulk purchase of identity card readers by the government of a country in Europe, which had been suspended in 2018. In the meantime, the Group made significant progress with the AFC business in the U.S. and European countries. Following the AFC project for public transport in Republic of Fiji (“Fiji”) launched in 2017, the project requested 700,000 cards in the first half of 2019. In addition, the AFC project in Fiji requested the Group to provide 10 units of ticket vending machines (TVM) to better serve the whole population of Fiji. Likewise, in Malaysia, the latest bus validator ACR330 has been well qualified. In 2018, 600 units of ACR330 were shipped and the local bus operator installed the devices onto 600 buses in 2019. AFC business was improved in the U.S.. The bus operator was deploying new AFC transportation projects in Los Angeles, New York and San Francisco, drawing up the demand of business validator. All of these projects have a favorable impact on the Group’s sales performance during the year of 2019. Event and awards The Group has actively taken chance to join industry activities to promote our business. In May 2019, ACS, a wholly owned subsidiary of the Group, exhibited at Japan IT Week Spring 2019 at Tokyo Big Sight to showcase its latest product offerings. Addressing the growing popularity of and demand for contactless applications, ACS demonstrated the determination to deliver world-class services to customers and partners. Moreover, ACS also exhibited in Securing Federal Identity 2019 in June 2019 at Hilton Crystal City at National Airport of Arlington, U.S. Securing Federal Identity 2019 featured federal government identity and security policy and issues and technology developments for today’s federal agencies and federal market security leaders. The showcase allowed government attendees to visit and learn more about innovative identity products and services enabling secure federal identities today and in the future. In December 2019, ACS won the Excellent Cooperation Achievement Award at the third Yang Cheng Tong Developers Conference held in Guangzhou, China. As an important partner of Yang Cheng Tong, ACS was invited once again to attend the conference and ACS was awarded the Excellent Cooperation Achievement Award that represents the recognition of its product value by partners and market. ACS’s commitment to develop key technologies and innovative applications for transport e-payment systems in the field of mobile internet was recognised among industry players. On top of that, the businesses of a series of innovative products and services including Bluetooth self-service reloading terminal, on-line reloading terminal, miniPOS product and QR code payment were launched and promoted by the Group worldwide. Financial Services and Investment A team was built to develop the advisory and investment businesses since the second half of 2017 and completed two transactions in 2017. However, having evaluated the macro environment and internal competence as well as risk-reward balance, the management decided to scale back its operation in financial services and investment business since early 2018 and discontinue this segment by the end of the first quarter in 2020. Hence there was no revenue generated from this segment in 2019 as well as 2018. Prospects: Financial Technology and Smart Living Cutthroat competition along with business opportunities are always on the horizon. In 2020, the Group will continue to focus on our core strength and strive to enhance existing products. Trade conflict between China and the U.S. together with the outbreak of novel coronavirus (COVID-19) set the tone for the beginning of 2020, overall downturn economic pressure is emerging to the surface. However, with our innovative technology and excellence products and services, we are confident to cope with the coming economic challenges ahead. Financial Services and Investment Having evaluated the macro environment and internal competence as well as risk-reward balance, the management decided to scale back its operation in financial services and investment business since early 2018 and discontinue this segment by the end of the first quarter in 2020.

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