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Public company info - Jian ePayment Systems Ltd. , 08165.HK
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Jian ePayment Systems Ltd., 08165.HK - Company Profile
Chairman Huang Zhang Hui
Share Issued (share) 2,324,000,000
Par Currency Hong Kong Dollar
Par Value 0.05
Industry Software
Corporate Profile Business Summary: The principal activities of the Group is (i) development and operation of integrated circuit and smart cards, back end electronic receipt/payment and data recording and processing software system; manufacturing and distribution of the associated commercial application; and trading of electric vehicle charging facilities; and (ii) licensing and trading of patents and provision of consultancy services on intellectual property management. Performance for the year: During the year under review, the Group recorded a revenue of approximately RMB91,000 (2018: RMB4,092,000), representing a decrease of 98% over the last year. Loss and total comprehensive income for the year attributable to owners of the Company amounted to approximately RMB24,275,000 (2018: RMB5,330,000), representing an increase of 355%. Business Review Prior to the year under review, on 14 May 2018, from the Review Committee of the Stock Exchange delivered its decision to uphold the Listing Division’s Decision to suspend trading in the Company’s shares under Rule 9.04 of the GEM Listing Rules and proceed with cancellation of the Company’s listing under Rule 9.14 of the GEM Listing Rules. The Review Committee considered that the Company had failed to maintain a sufficient level of operations or have tangible assets of sufficient value and/or intangible assets for which a sufficient potential value can be demonstrated under GEM Listing Rule 17.26 to warrant the continued listing of the Company’s shares. The Company has until the end October of 2018 to submit a resumption proposal to demonstrate that it has a sufficient level of operations or assets as required by GEM Listing Rule 17.26. On 29 October 2018, the Company submitted the Resumption Proposal to the Stock Exchange for seeking its approval for the resumption of trading in the shares of the Company (the “Shares”). The Resumption Proposal involves the acquisition of the entire issued share capital of a company primarily engaged in the sale of imported premium brand vehicles (the “Acquisition”). Upon completion of the Acquisition, it is expected that the Company will satisfy the requirements under Rule 17.26 of the GEM Listing Rules. The Acquisition will constitute a very substantial acquisition and a reverse takeover involving a new listing application of the Company under the GEM Listing Rules. During the year under review, on 1 March 2019, the Stock Exchange agreed to allow the Company to submit a new listing application relating to the Resumption Proposal on or before 31 May 2019. An application has been made by the Company to Executive Director of the Corporate Finance Division of the Securities and Futures Commission or any delegate of the Executive Director (the “Executive”) pursuant to Rule 8.2 of the Takeovers Code for the Executive’s consent to extend the latest date for despatch of the circular in relation to the new listing application (the “Circular”) to 31 October 2019 to allow more time for the Company in relation to the new listing application. The Executive granted such extension on 2 May 2019. The Company submitted a new listing application (the “First New Listing Application”) in connection with the Resumption Proposal on 29 May 2019. On the same day, the Circular was also submitted to the Stock Exchange and the Executive for their review and comment. However, the First New Listing Application submitted to the Stock Exchange lapsed on 29 November 2019. Further, subsequent to the year under review, on 28 February 2020, the Company re-submitted the listing application to continue its application to list on the Stock Exchange. With respect to the business operations of the Group, the Group is currently focusing its resources on the resumption of trading of its Shares (the “Resumption”). Upon Resumption, the enlarged Group will be engaged in the business of the target companies and its subsidiaries (the “Target Group”). The Target Group principally engages in (i) the operation of the 4S dealership Store of the Automobile Brand in Nanjing, Jiangsu province, the PRC (ii) the trading of new parallel-imported automobiles in the PRC, (iii) the trading of preowned automobiles in the PRC and (iv) the distribution of IMSA-tuned automobiles in the PRC. Prospects: Looking forward, the Company holds a positive outlook on the business of the Target Group after the completion of the re-organisation.

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