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Public company info - Thiz Technology Group Ltd. , 08119.HK
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Thiz Technology Group Ltd., 08119.HK - Company Profile
Chairman Wong Hoi Wong
Share Issued (share) 281,000,000
Par Currency Hong Kong Dollar
Par Value 1.0
Industry Software
Corporate Profile Business Summary: The Group is principally engaged in (i) property leasing; (ii) trading business; and(iii) provision of software development and related services in relation to Fintech and Linux-based systems and others. Performance for the year: The Group’s consolidated revenue from principal activities amounted to HK$28,542,000 (2020: HK$17,735,000). Profit attributable to owners of the Company and earnings per share for the year were HK$3,739,000 (2020: profit of HK$3,258,000) and HK1.33 cents (2020: profit per share HK1.16 cents) respectively. Business Review: Leasing business The Group’s leasing of office premises in Shanghai, PRC, including the management business of leased office premises in Shanghai, was affected by the COVID-19 pandemic and turnover during the period under review declined as compared with the corresponding period of last year. The office market of Shanghai was affected by the pandemic and weak leasing sentiment, with several projects delayed in delivery. Leasing activities of office premises picked up, with net absorption level reaching 640,000 square meters last year, declined by 4% year-on-year only albeit at a relatively low position compared to the five-year average. With high-end retail consumer sector supporting regional office demand, impressive absorption performance was seen during the year. Cost-saving demand continued to drive the growth in office demand, with new projects in some of the popular regions being favored by customers for their price to value advantage The average vacancy rate for the city’s Grade A offices slightly declined year-on-year last year, benefiting from the significant rebound in net market absorption. The vacancy rate of non-core business districts recorded a yearon-year decline for the third consecutive year, by 2 percentage points, due to the continuous implementation of cost control by companies as well as the temporary slowdown in supply. Software business The effect of the COVID-19 pandemic to the Group’s software business was limited and turnover increased as compared with the corresponding period of last year. China’s consumption recovered quickly due to proper prevention and control of the epidemic. Gone are the days when financial information had to be recorded on paper. With the wave of digitalization, complicated accounting and book-keeping tasks can be replaced by the Internet and cloud technology. The outbreak of the COVID-19 last year has had an impact on the operations of various types of enterprises, SME in particular. The pandemic is indeed a catalyst for the digital transformation of enterprises, especially SMEs. As long as SMEs choose the right digital tools, they still have a chance to survive and even stand out amid the pandemic. Statistics show that although the profitability of SMEs that adopted digital and enterprise apps decreased under the epidemic, but the proportion of such enterprises that experienced a decrease in income was smaller than those not using apps. In the future, SME will pay more attention to its own financial health and will have a great desire for financial related data such as cash flow to review the company’s future strategies, which is undoubtedly the future development trend. The direction of the Group’s helping clients’ in the their digital transformation process includes understanding the needs and experiences of the Group’s clients, improving and developing client experience, and using modern technology frameworks with digitalization as the core to rapidly expand and deploy applications so as to meet the needs of the Group’s clients, and these projects will take time to develop and will certainly bear fruit. Trading business In order to continue to diversify the Group’s business portfolio in response to the demand of the office market, the Group further expanded the source of income from the office-related decoration trade business, and the turnover of the trade business increased significantly compared with the corresponding period of last year. Prospects: As a major economic force in the global downturn, and with its growing market share in the international market, more multinational enterprises are expected to place their attention and development focus on China in the coming years, and more enterprises may relocate their Greater China headquarters to Shanghai, PRC, financial and retail industries in particular. Given the delayed delivery of several projects in the office market in Shanghai, a new supply of 1.40 million square meters of office space is expected to be available in 2021. In addition, some landlords who intended to use their own offices have changed their plan and will lease out a portion of their premises, further increasing the leasable area and competition in the market. Although it is difficult to see a significant rebound in overall rents in the near future, for some popular locations, landlords may gradually reduce rents and related concessions as occupancy rates in the regions increase and stabilize at a certain level. The health care industry is expected to be one of the key economic growth sectors in 2021. In addition to the steady development of enterprises in the industry, many technology-based enterprises have also entered the medical field. Under the COVID-19 pandemic, the global economy is slowing down. The economy rebounded strongly in the first quarter and is expected to get rid of the impact of the pandemic this year. With the expansion of vaccination coverage, Hong Kong is gradually returning to normal, and the flow of people to shopping malls and restaurants is gradually increasing, but the road to full recovery is still a long one. The pandemic has accelerated the digital transformation of the banking and financial industry, it has greatly increased the demand for digital applications. The use of modern technology framework, rapid deployment of applications, and the use of years of accumulated technology and development of digital have proved that the investment in digital transformation is heading to the right direction. Looking ahead, the Group will be proactive in the face of a challenging market environment amid the COVID-19 pandemic and remain confident. The Group will take a prudent approach and continue to diversify the Group’s business portfolio to build the Group’s competitiveness.

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