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Public company info - Fulu Holdings Limited , 02101.HK
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Fulu Holdings Limited, 02101.HK - Company Profile
Chairman Fu Xi
Share Issued (share) 400,000,000
Par Currency U.S. Dollar
Par Value 1.0E-4
Industry E-Commerce & Internet Services
Corporate Profile Business Summary: During the year, the Group was principally engaged in the provision of services to facilitate digital goods transactions and online stores operating services. Performance for the year: The Group recorded audited profit for the year attributable to the equity holders of the Company of RMB120.90 million for the year ended December 31, 2020, representing an increase of 50% as compared to that of the previous year. For the year ended December 31, 2020, the basic and diluted earnings per share was RMB0.37 and RMB0.37, respectively. Business Review The Company implements the strategy of “vertical and horizontal”, vertically expanding upstream categories and downstream channels, and horizontally digging up individual user’s value and extending service boundaries. In 2020, the Company recorded a GMV of RMB14,553 million, representing a growth of 13.56% as compared to RMB12,815 million in 2019. Revenue from the leisure and entertainment segment increased by 19% from RMB130,524,000 in 2019 to RMB155,952,000 in 2020. Such increase was due to the expanding into new popular categories by the Group along with the steady growth of the traditional video business. the Group's business partners include Tencent Video, iQiyi, Baidu Netdisk, Ximalaya, NetEase Music and others. The gross profit margin dropped from 90% to 83% because the Group added certain low-margin categories, which lowered the overall gross profit margin. Revenue from the games segment increased by 8% from RMB93,404,000 in 2019 to RMB100,979,000 in 2020. the group has improved the game product structure and added new categories, resulting the positive revenue growth despite a 50% drop in GMV, and the Group's gross profit margin increased from 70% to 82%. Revenue from the telecommunications segment increased by 201% from RMB15,642,000 in 2019 to RMB47,118,000 in 2020, which was primarily due to the significantly increase in downstream consumption scenarios and the increase in commission rate. Lifestyle segment turned out to be the pleasant surprise in 2020, with the revenue increased by 929% from RMB2,349,000 in 2019 to RMB24,161,000 in 2020. Such rapid increase was due to the expanding into new product categories by the Group. the Group's partnership includes ELEME, Meituan, Nayuki’s tea and KEEP as well as the rapid development of life service track itself. Benefited from the above, gross profit margin of lifestyle segment substantially increased from 64% to 93%. The main income of the value-added service segment comes from authorized flagship stores, to which the Group provide SaaS services. Taking into account the Group's business model, the current service fees are exempted in the stage. the Group earn income through commission. Revenue from such segment increased by 234% from RMB20,225,000 in 2019 to RMB67,635,000 in 2020, with its share of revenue increased from 8% to 21%. Leveraging on the PaaS infrastructure of Fulu Open Platform, the Company provides customers with customized solutions with strong scalability and connectivity. At the same time, it also provides upstream and downstream channel vendors with a large number of standardized SaaS products to help them operate more efficiently and intelligently. the Group's principal connectivity solution is “Top up API”, which is embedded in various platforms through standard equity commodity application program interfaces. Such solution has 1,497 current users. Launched in 2019, the SaaS model application including “I Want To Supply” helps suppliers complete the functions of warehousing, management, order generation, delivery, and automatic settlement of equity products. Such application has 362 current users. Batch top up and batch purchase, a method batch top up and batch purchase of equity goods includes two forms: online top up of equity goods and redemption code delivery, which helps companies to carry out user operations, channel distribution, and welfare distribution. Such solution has 1,620 current users. The “E-commerce Agent Operation” application provides full-process services such as product planning, traffic operation, visual design, and after-sales service. Such application has 153 current users. In 2020, the group has added 11 new SaaS applications. Among them, the social e-commerce application “Twitter”, which was launched in August 2020, has grown rapidly. It has already developed 10,951 twitters. In order to help companies build their own digital equity malls to achieve the purpose of attracting customers, activating, and increasing loyalty, the Group launched a “Virtual Mall” with plentiful system functions. Such applications have 106 current users. In respect of online store operation and digital goods providers, as of December 31, 2020, the number of online stores operated by the Group amounted to 85 in total, among which 47 flagship stores obtained authorization from customers, representing a year-on-year increase of 51.6% as compared to 31 in 2019; the number of digital goods suppliers amounted to 1,074, representing a year-on-year increase of 62.2% as compared to 662 in 2019; the number of users from downstream channels of digital goods amounted to 1,876, representing a year-on-year increase of 39.4% as compared to 1,346 in 2019. Prospects: Looking forward to 2021, the Group will not only endeavor to provide more convenience for users’ daily life and work with the Group's traditional digital right goods, but also will expand the reach of the Group's platform in order to introduce more digital right goods. Through continuously technology updating and rapid iteration of SaaS products, the Group will try to maintain better experience among customers from both downstream and upstream and end users. the Group will seek to increase the number of flagship stores with authorization, and keep abreast with leading enterprises to expand overseas game operation. In addition, the Group will keep an eye on new technologies that are able to be combined with the application scenarios in connection with digital right, such as the application of block chain technology. the Group firmly believe that with enhancing computing power, safety and innovation of platforms operated by Fulu, the Group are confident to provide more and new consumption paths that meets the demands of new era to users.

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