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Public company info - HC Group Inc. , 02280.HK

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HC Group Inc., 02280.HK - Company Profile
Chairman Liu Jun
Share Issued (share) 1,310,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry E-Commerce & Internet Services
Corporate Profile Business Summary: The Group is principally engaged in the following activities in the PRC: Providing industrial search result prioritising services through its B2B website “hc360.com” and offering comprehensive IT-related product information by “zol.com.cn”;Sales of goods through its B2B trading platforms;Providing SaaS (Software as a Service) services in 3C industrial internet and new technology retail solutions in PRC; Providing cross-industrial integrated marketing and advertising services;Providing anti-counterfeiting products and services and supply chain management to enterprises;Engaging in finance business; including micro-credit financing, lease financing and factoring services;Providing construction equipment rental services;Sales of properties and provision of property rental and management services via its O2O business exhibition centre; Hosting exhibitions and seminars. Performance for the year: During the year ended 31 December 2019 (the “Year”), the Group recorded a revenue of approximately RMB14,832.8 million (2018: RMB10,583.1 million), representing an increase of approximately 40.2% as compared to the year ended 31 December 2018. The loss attributable to equity holders of the Company was approximately RMB376.5 million for the Year, while a profit attributable to equity holders of the Company of approximately RMB275.6 million was recorded for the year ended 31 December 2018. The gross profit decreased from RMB1,267.0 million in 2018 to RMB929.0 million in 2019 . Business Review: In 2019, the Group continued to work for its vision of becoming a leading group for “Industrial Internet” in China by leveraging internet thinking, instruments and methods to ramp up industrial efficiency, empower supply chains and industrial chains, and establish a win-win ecosystem to serve customers. By focusing on and integrating advantageous resources, starting from 2018, the Group’s business has been divided into three segments, namely the business groups of platform and corporate services, technology-driven new retail and smart industries. In 2019, approximately 5.7% of the Group’s revenue came from the business group of technology-driven new retail, approximately 88.0% of the Group’s revenue came from the business group of smart industries, approximately 6.2% of the Group’s revenue came from the business group of platform and corporate services and approximately 0.1% of the Group’s revenue came from the O2O business exhibition centre. Business group of platform and corporate services The business group of platform and corporate services is committed to developing industrial internet business platform instruments that can help small and medium-sized enterprises (“SMEs”) to improve industrial efficiency and create value for customers. This business group also works to build industrial data chains and business scenarios to empower SMEs by providing them with more value-added services such as financial services, data marketing and SaaS, which facilitates the transformation and upgrade of SMEs, and serve the economic development of the PRC. Being the core operation entity of the business group of platform and corporate services, hc360.com has sets its strategy to become the “operating service platform of SMEs”. Its core value is to “manage and operate the infrastructures of stores” for enterprise customers. In 2019, products of hc360.com centered on continuous in-depth upgrade of internet information services, including upgrading and improving traditional products (such as Mai Mai Tong (買賣通) and Hu Tong Bao (互通寶)) and improving customer experience. hc360.com also focused on developing technological innovative products (such as Huiqitong (慧企通) and Huijingcai (慧精彩)). With technology enhancement, efficient operation and artificial intelligence, it is able to accelerate product launch, procure more customers and facilitate transactions, thereby achieving the purpose of maximising marketing effectiveness and effectively reducing the online store operating costs of customers. In March 2019, hc360.com established further strategic cooperation with b2b.baidu.com and jointly launched the product of “Huijingcai” (慧精彩). In May 2019, hc360.com attended the Global Ecosystem Summit organised by Tencent, and greatly promoted the launch of “Huiqitong” (慧企通) together with Tencent. In February 2020, taking into consideration of the actual difficulties of SMEs affected by the outbreak of Coronavirus Disease (COVID-19), hc360.com responded promptly. Nine major measures were introduced to alleviate operational difficulties in the industry, and be wellprepared for the industrial recovery. hc360.com also launched a new, onestop multi-contact platform, namely “Huishengyi” (慧生意) which assisted consumers to seize the business opportunities. Buyer clue and manual matching services are provided to continuously meet the users’ needs, so as to improve connection between enterprises and customers as well as reduce the manual communication cost of the enterprise. Business group for technology-driven new retail In late 2018, with zol.com.cn (“ZOL”) as the principal entity, the Group restructured its business group of technology-driven new retail by combining ZOL with 北 京 融 商 通 聯 科 技 有 限 公 司 (Beijing Rongshang Tonglian Technology Co., Ltd.*) (“Rongshang Tonglian”) and 慧聰雲商(佛山)網絡 科技有限公司 (Huicong Yunshang (Foshan) Internet Technology Co., Ltd.*) (“jdhui.com”). The strategic objectives of the business group of technology-driven new retail are to connect retailers (small b) through guiding C-end consumers, SaaS tools, customisation and supply chain services as well as to enhance the ability to attract customers, profitability and operational efficiency. Meanwhile, with the data collected through small b along with data analysis, we are able to provide comprehensive “online + offline” marketing solutions to enterprise customers (big B) and provide solutions to core requirements of various parties along the 3C and home appliances industrial chain, which would form a B2b2C business model. At the beginning of 2019, to ensure the Company would achieve its strategic objectives, the business group of technology-driven new retail conducted a remarkable adjustment and enhancement on the corporate organisation structure and established three segments, namely “wise marketing”, “smart retail” and “intelligent platform”. The wise marketing segment strives to provide professional technology information for the entire network, with its impact extending to an average of over 70 million purchasers of technology products each month through cooperative partners such as search engines, social networks and integrated reading platforms. In the meantime, the business model will provide professional, innovative and comprehensive marketing solutions for thousands of technology companies through continuous service iteration. The smart retail segment is dedicated to serve thousands of SMEs and distributors, and it capitalises SaaS to empower the stores in the industries of smart phone and home appliances. The air purification business segment of which is responsible for the brand building, product sales and channel development for the air purification product of HC & RHT in China. The intelligent platform segment is responsible for the technical needs and technological innovation of all businesses to ensure the vigorous development of each business and carry out the functions of innovation and incubation of new products. Over the last year, new products from dozens of brands have leveraged on ZOL new media matrix to showcase and create innovative content in different platforms. They took advantages of profession media influence to get attention from large number of online users. In addition, with the strategic cooperation with Baidu, its intelligent mini programs could improve users’ accessibility and their closed-loop service experiences. ZOL’s operating capabilities and resources reserve in the technology industry have been further upgraded to provide enterprise customers with marketing services which integrated branding and effectiveness, and empower channels by generating informative and considerable amounts of transactions. In April 2019, ZOL cloud store cooperated with Transpeed, Annto and Logresearch and successfully organised an exchange session for “new logistic” of home appliances industry in Foshan, and held a home appliance storage service and product launch event. In May 2019, ZOL cloud store held the first nationwide promotion campaign and has achieved satisfactory results. The number of visitors to the membership stores recorded dramatic growth with an unexpected drastic increase in the in-store traffic. In June 2019, the cooperation between ZOL and Baidu Smart Mini Program was officially kicked off. As at the date of this report, over 1,000 brick-andmortar retailers have been introduced into the ecosystem of Baidu Smart Mini Program. For zol.com.cn, the cooperation with Baidu Smart Mini Program system is an alliance with a strong power like Baidu Internet Ecosystem in respect of content service, marketing service and technical service capacities. In October 2019, ZOL participated in the Guangdong Expo for Household Electrical Appliances 2019. The on-site demonstration of the SaaS solutions and membership transaction information service platform by the smart retail segment has received recognition from a variety of distributors. Throughout 2019, the daily independent visitors of ZOL amounted to 24.2 million with the peak daily online e-commerce traffic of 610,000 visitors. The external e-commerce platform reached an average of 4.5 million users per day, covering 800 product lines and over 650 highlighted original articles. As at the end of 2019, the business group of technology-driven new retail has connected with over 8,000 paid small b retailers through the SaaS tools. Business group of smart industries The business group of smart industries, which mainly comprises of five key components: four vertical service platforms for industrial internet (“Union Cotton”, “ibuychem.com”, “Zhongmo International” and “nahuomall.com”) and PanPass, an IoT solutions provider for digital transformation. “Focus” and “Significant Verticality” are the Group’s important strategies. Positioned as an excellent spot transaction platform for cotton, Union Cotton provides integrated B2B e-business service for spot cotton through online platforms, including self-operated online shopping stores, supply-chain financial service and warehouse receipt pledge. “Union Cotton”, one of the earliest B2B e-business pioneers in the cotton industry, has accumulated extensive industrial experience and significant market resources in the cotton industry, with an annual transaction size exceeding RMB5 billion. In May 2019, Union Cotton was awarded the title of “China’s Top 100 Commodities E-Commerce Enterprises 2019” (2019年中國大宗商品電商百強企業). In June 2019, Union Cotton was awarded the title of Shanghai E-Commerce “Double Push” Engineering Service Platform (上海市電子商務「雙推」工程服務平台). In December 2019, Union Cotton was listed among “2019 Top 100 Companies in China’s Industrial Internet” (2019中國產業互聯網百強榜), and was included in the “List of Shanghai Private Enterprise Headquarters 2019” ( 《 2019年度上海市民營企業總部名單》) issued by Shanghai Municipal Commission of Commerce. Positioned to provide centralised purchasing and integrated e-business service for chemicals and plastics, ibuychem.com was incubated by the Group as a non-wholly-owned subsidiary in March 2015, and originated from the chemical e-business platform established by the Group over 20 years ago. It has developed into a leading B2B platform in the domestic chemical industry. Its services cover nearly one million enterprises and eight million online members in the chemical rubber and plastics industry chain in China. The platform focuses on the spot trading of chemical rubber and plastic products. In 2019, the ibuychem.com platform had about 6,500 transaction customers, including well-known enterprises from home and abroad such as PetroChina, Sinopec, DuPont, Akzo Nobel and 3trees, with an annual transaction size of approximately RMB5 billion. Based on the transaction data of buyers and vendors, ibuychem.com also actively carried out supply chain financing and commercial factoring services. Positioned to develop a national material bank for the construction formwork industry, Wunan Zhongmo Construction Science and Technology Co., Ltd.* (湖南中模建築科技有限公司) (“Zhongmo International”) provides smart attached lifting scaffolding, aluminum alloy formwork system, glass fiber formwork system, building smart device, etc. Relying on the internet SaaS system, IoT technology and industrial parks, Zhongmo International provides design, installation, maintenance, refurbishment, supply chain finance, subleasing and leasing business that caters to materials. As at the end of 2019, Zhongmo International managed assets worth more than RMB600 million, with its business covering to 17 provinces and cities nationwide, serving over 1,000 buildings under construction. On 24 December 2019, Liling Shi Lujiang Zhongweichuang Xin Chuangye Investment Fund Partnership Company (Limited Partnership)* (醴陵市淥江眾微創新創業投資基金合夥企業(有限合夥) ) (“Liling Partnership”) made a total capital contribution in the amount of RMB40 million to Zhongmo International, among which, RMB20 million will be directly invested as capital increase, and RMB20 million will be used as convertible bonds. Upon completion of the capital increase, the Group’s equity interest in Zhongmo International will be approximately 35.38% (assuming that Liling Partnership converts all convertible bonds into shares). Besides, Zhongmo International will cease to be a subsidiary of the Company and will be accounted for and consolidated in the Group’s financial results as an associate using equity method. “nahuomall.com” is positioned as the preferred purchase platform for home appliances stores in towns and villages across the country. Through platform operation and layered service system, it adopts construction or alliance, or direct operation or franchise to join retailers (small b) to empower the supply chain, finance, logistics, community marketing, fan operation, etc., and help them select, stocking and selling, thereby assisting small b to transfer gradually into a social-community based retail store which serves C-end consumers. As an integrated service platform for home appliance stores in towns and villages nationwide, nahuomall.com maintains strategic cooperative relationship with many renowned brands. It serves 580,000 home appliance distributors and retailers across the country and helps them to get rid of the supply chain constraints of provinces, cities, counties and regions. Since its establishment in 2016, nahuomall.com has conducted transactions with tens of thousands of distributors with a high purchase rate from repeat customers. In 2019, products of renowned brands such as Gree, Media, Haier, TCL, Skyworth and Changhong were included in the nahuomall.com APP. Over the past year, nahuomall.com has 100,000 registered members, more than 20,000 active members and over 500 service outlets. Beijing PanPass Information Technology Co., Ltd* (“PanPass”) (NEEQ Stock Code: 430073) relies on its core platform Z-SCM, a proprietary supply chain management system, and is based on carriers such as IoT, big data, artificial intelligence (AI) and cloud computing, digital code, QR code, RFID and other markers, providing lifetime traceability and management service for brand clients. PanPass’s anti-counterfeiting traceability solutions has served more than 40,000 enterprises, which covers the construction projects of the top 500 enterprises in the world, national industrial leading enterprises and the national key platforms such as MOFCOM, MOA, MIIT. PanPass owns over 20 national invention patents, including anti-counterfeiting patent for codes and invention patent for product logistics management system. In 2019, PanPass has continued further the cooperation with various customers with long business history such as PetroChina, Junlebao, Lulu (露 露), Tong Ren Tang and Hongyuan Waterproof. Taking advantages of “One Product, One Code”, a new type of retailing, PanPass rendered service to the market by building a big data bank among enterprises, products, distributors and consumers which became a sales channel for Chinese liquors, where serviced customers included Maotai, Langjiu, Luzhoulaojiao, Banchengjiu (板 城酒), Sitejiu (四特酒), Shangzhuanglaojiu (山莊老酒) and Hankejiuye (酣客酒業). In June 2019, PanPass established the southwest regional operation, continuing its efforts to strengthen the local service and sales capacity. In August 2019, PanPass entered into an integrated marketing project of Jiangxiang Wine (醬香酒) with Maotao Jiangxiang Wine Company (茅台醬 香酒公司). In September 2019, PanPass Yimatong (一碼通) SaaS version V1.0 platform was officially launched. In November 2019, PanPass assisted Shandong Taibao (山東泰寶) to establish an institute for working on the areas of anti-counterfeiting traceability IoT, which aims to construct product anticounterfeiting traceability for enterprises, food safety, smart agriculture and government key product traceability system platform, and to have an in-depth cooperation and practice in anti-counterfeiting and anti-channeling, big data applications and other fields. In addition, PanPass was awarded the certificate of “Quality Credit 3A Grade Enterprise (企業質量信用3A)” and named the “Outstanding Chinese Enterprise in Anti-counterfeiting (中國防偽行業優秀企業稱號)”, respectively, by China Trade Association for Anti-counterfeiting. PanPass has obtained seven utility model patent certificates and nine certificates of computer software copyright. PanPass has put more efforts in R&D and product investment, and is committed to the R&D and innovation of products in areas of data identity management, supply chain management and marketing management. It has been improving the performance of the software and hardware based on different tested products and parameter requirements to enhance customers’ satisfaction and create greater value for them. Prospects: With the extension of trade friction between China and the United States and the intensified market competition, China, prompted by such reverse, has to accelerate its pace of industrial upgrading. Domestic enterprises are keen to apply new technologies, such as the internet and big data, to accelerate their transformation and upgrade, reduce costs and enhance efficiency. This has ushered in a new period of development opportunities for the sector of industrial internet in China. It has been widely accepted in the industry that “China ushers in the golden age of the industrial internet”. Leveraging on the 28 years of experience in serving numerous industries, the Group has developed an in-depth knowledge into the industry as well as the ability to reach customers. On this basis, the Group put forward its vision of “committed to becoming China’s leading industrial Internet group” in January 2018. In March 2020, the Group focused on the two – wheel drive model with “hc360.com + zol.com.cn” as its principal business. In 2020, hc360.com (慧聰網) will, by means of a model of “manpower + intelligence”, utilise its huge inquiries and clues to form in-depth matching and pairing-up of sellers and buyers which serves SMEs to seek for business opportunities. At the same time, hc360.com will promote a greater cooperation with leading companies to help customers in the most simplified way that “open multiple stores just with one click” to form multiple business contacts. In the future, hc360.com will adopt “being the service platform for SMEs business” as its core strategy, and place “being the infrastructure to manage and operate multi-stores” for corporate customers as its core value. Zol.com.cn (中關村在線) will focus on connecting consumers, technology manufacturers and technology retailers. By providing consumers with more authoritative product recommendations across the entire network, providing retailers with better quality supply chains and deeper internet technology and big data analysis services, the website can assist technology manufacturers and retailers to quickly improve their ability to secure the accurate users and empower the entire science and technology industry to realise a comprehensive strategic transformation from a technology media company to an internet company in technology industry, and to promote the technology industry to continue moving forward. Over the past two years, the Group has clearly and explicitly proposed the “investment + incubation” model to support the independent development of the vertical runways in the path decomposition of the vision. In 2020, the Group will continue to support the development of vertical runways, understand the pain points of the industry, and cooperate with teams with strong industry backgrounds, output the Group’s Internet capabilities and adopt a “helpful but not hindering” approach to incubate vertical industries, and ultimately share our benefit with our Shareholders. In addition, in response to the call of the central “Promoting the Nation with Science and Technology”, some cities’ economic development zones have accelerated the implementation of science and technology innovation strategies, adjusted and optimised industrial structures, and accelerated the development of new industries and new formats. Against this background, on 27 June 2019, the Group entered into cooperation agreements with Huizhou Daya Bay Economic and Technological Development Zone Management Committee, Logan Group (龍光集團) and Huizhou Dejie Transport Equipment Co., Ltd. (惠州德捷運輸設備有限公司), in relation to the intention to jointly construct and operate Smart Bay – a new generation of information technology industry port with a total gross floor area of approximately 1.8 million square metres, to jointly work on the Daya Bay Development Zone Industrial Development Fund project and to establish the Company’s headquarters in the zone. Bay economy stands as a key driving force for the economic development of China and a leader in pioneering technological transformations. Committed to becoming a leading domestic industrial internet group, the Group is able to firmly grasp opportunities and actively respond to challenges. By concentrating on the vertical tracks of industrial internet and stressing on ecosystem construction, the Group will focus on combining the positioning of the industrial internet strategy with the advantages of the interconnection and exchanges within the Guangdong -Hong Kong-Macau Greater Bay Area, to help the Group to achieve highquality and high-efficiency development and enables the Group to make solid steps to become a leading industrial internet group.

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