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Public company info - Heng Xin China Holdings Ltd. , 08046.HK
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Heng Xin China Holdings Ltd., 08046.HK - Company Profile
Chairman Lim Tong Yong
Share Issued (share) 8,305,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry TV & Broadcasting
Corporate Profile Business Summary: The Group is principally engaged in digital cable television business,wireless digital television value-added services and wireless digital audio integrated circuits. Performance for the year: For the year ended 31 December 2017, the Group recorded a consolidated revenue from continuing operations of approximately HK$20.2 million (revenue from continued operations was approximately HK$81.2 million for the year ended 31 December 2016), no consolidated revenue was generated from discontinued operations for the years ended 31 December 2016 and 2017. Loss attributable to owners of the Company was approximately HK$55 million, as compared to the loss attributable to the owners of approximately HK$53.8 million for the year ended 31 December 2016. Basic loss per share (including discontinued operations) was approximately HK0.66 cent for the year ended 31 December 2017, as compared to basic loss per share of HK0.70 cent (including discontinued operations) for the year ended 31 December 2016. Business Review: Digital cable television business During the year of 2017, Beijing Yaao Boshi Technology Limited (“Beijing Yaao”) had co-operated with local television stations of Xinji, Dongguang and Qing County in Hebei Province to develop the cable television network that covers the three counties. The digital transformation scheme had been implemented for the cable television subscribers in the said three counties. The Group’s digital cable television business suffered from the global trend of viewers to switch from traditional cable, satellite and broadcasting televisions to internet protocol televisions (IPTV), overthe-top (OTT) and mobile video stream apps. A significant contributor of this segment’s revenue was the initial installation fee charged to new customers. Due to the changing consumer pattern, consumers are swapping from cable television to new media rather than the other way round, causing a decrease in the new installation fee charged by the Segment. Due to the changing consumer pattern and a continuous segment loss resulted from the digital cable television business, the Group decided to undergo a business restructuring involving (i) diminishing the digital cable television business, (ii) laying off the redundant employees of the digital cable television business and (iii) reducing other expenses after diminishing of operations. Wireless digital television value-added services business The Group’s wireless digital television value-added services business was essentially the Group’s previous cooperation with Beijing Qian Tai for the development and operation of wireless digital mobile television and advertisement display panels in Hebei Province, China. The media and advertising industry of China was changing rapidly in the past few years. As the result of absence of satisfactory progress of the project, the above cooperation was terminated and the remaining unamortized cooperation development fee was already recorded as one-off recognition in the Group’s accounts for the year ended 31 December 2016. No further revenue was recorded after the ceasing of cooperation. Wireless digital integrated circuits business The wireless digital integrated circuits business of the Group is primarily engaged in the manufacturing, trading, sales and distribution of wireless electronic modules in China, notably bluetooth chips, integrated circuits and electronic signal receivers. In order to diversify the Company’s business scope and broaden its income base, the management decided to develop a new business model by utilizing and incorporating its existing technology into the design of products for the potential customers on an original design manufacturing (“ODM”). Similar to the traditional ODM business model, the Group design, develop and sells integrated circuits (“ICs”), modules and devices in connection with the deployment and upgrades of systems by electronic products manufacturer in China. Currently, the major products of the Group, being the wireless WIFI modules, are designed to function as a component of laptops/desktops/MIDs and other wireless devices to implement the wireless network function. As at the date of this report, secured sales orders for ICs modules has been obtained. It is expected that signifcant turnover can be recorded in the near future. Securities brokerage business On 23 March 2017, Perfect Capital Global Limited (“Perfect Capital”), an indirect wholly-owned subsidiary of the Company, completed the acquisition of the entire equity interest of JTI Securities. JTI Securities is principally engaged in securities brokerage business and is a licensed corporation under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (“SFO”) to carry out Type 1 (dealing in securities) regulated activities. JTI Securities is also a China Connect Exchange Participant and a Hong Kong Stock Exchange Participant. Following completion of the acquisition, the Group officially launched the marketing campaign of the group's securities brokerage segment in the second quarter of 2017. With the group's marketing efforts, the segment saw a promising growth in terms of customer base, portfolio size, commission charges and profitability from June 2017 onwards. With the improved investors’ sentiment and increased trading turnover of Hong Kong stock market since the second quarter of 2017, the Group is optimistic with the growth of the group's securities brokerage business. The Group is now exploring possibilities of further development and diversification of the range of fnancial services to be provided by the Group which may form synergy with the group's securities brokerage business. Prospects: The Board will continue to explore and evaluate new businesses and investment opportunities which could be of good potential and/or long-term beneft to the Group and the shareholders of the Company (the “Shareholders”). The Board will take a cautious and conservative approach in the evaluation and timing of potential projects or investments, including and constantly keep reviewing the Group’s strategies and operations with a view to improve the business performance and Shareholders’ returns.

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