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Public company info - Netel Technology (Holdings) Ltd. , 08256.HK

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Netel Technology (Holdings) Ltd., 08256.HK - Company Profile
Chairman James Ang
Share Issued (share) 1,214,000,000
Par Currency Hong Kong Dollar
Par Value 0.02
Industry Telecomm. Services
Corporate Profile Business Summary: The Group is principally engaged in research and development of telecommunication and recruitment applications, value-added service software and provision of related services, trading of telecommunication equipment, provision of long distance call services and online recruitment services in Hong Kong. Performance for the year: The Group recorded a total turnover of approximately HK$3.32 million for the year ended 31 May 2017, an increase of 40.08% from approximately HK$2.37 million for the year ended 31 May 2016. The gross profit margin decreased from 73.09% for last year to 33.06% for this year. The decrease in overall gross profit margin was mainly attributable to the increase on turnover of e-commerce trading business which has lower profit margin. The Group recorded a consolidated loss attributable to shareholders of approximately HK$21.21 million, as compared with the comparative amount of loss of approximately HK$23.25 million attained in the previous year. Business Review: The sales of the Group during the current year was increased by 40.08% over last year. The most encouraging news is the commencement and rapid growth of e-commerce business. Although it is a new business, one of the target customer bases is the GBjobs customers. This model saves money and strengthens the competitiveness of GBjobs. The Group have also made a breakthrough in respect of computer headhunting, in which artificial intelligence is utilized to replace human by computer. The Group takes Shenzhen as a pilot of computer headhunting, and the customers using this service are satisfied. Regarding cross-border headhunting, the Group has begun to promote its business to other cities in the Pearl River Delta and to appoint joint agents to operate together. On 26 and 27 August 2017, the Group will hold a cross-border headhunting recruitment exhibition at the Hong Kong Convention and Exhibition Centre. This meeting is supported by the corporations and relevant authorities of Shenzhen, which will contribute to the development of the Group’s business. During this financial year, the Group entered the Chinese market, and the software developed in the past has been put into service, especially the big data business, which helps the applications of GBjobs, cross-border headhunting, computer headhunting, E-mart, etc. The Group has started training recruits in Shenzhen at the end of 2016. The Group spent a considerable time for training, product and market integration, market research, price positioning, and organizing seminars and talks. The promotions of all products in China have been in place after the Spring Festival in 2017. Certain results began to reflect in this year and will be further reflected on the first quarter of the new year. The Chinese market needs a reasonable time to operate, and the research and development of advanced technology also need a reasonable time. For the year, the Group is supported by investors as always. Fortunately, with the support of the Chinese market and the relevant authorities in Shenzhen, and some software have entered maturity, the Group will be reborn as long as the Shenzhen business model copied to other provinces and cities. During the process, the Group expects the sales growth will be much higher than the cost increase. Prospects: In the years to come, the Group will focus on further promotion of GBjobs and other derived horizontal development projects, such as E-mart, computer headhunting, cross-border headhunting, Cross-border recruitment exhibition, big data, etc., in the Pearl River Delta and the Yangtze River Delta, and the expansion of the Shenzhen operation model to other cities. With the improvement of relationship between China and the Philippines and the fact that the Group has successfully sold telecommunications products to the Filipino workers in Hong Kong, these experiences and relationships will help the Group to export Filipino domestic helpers to China. The Group has entered memorandum of understanding with Provincial Government of Batangas in the Philippines in relation of training Filipino domestic helpers and exports to China; the Group has also been negotiating with a number of Chinese housekeeping companies for cooperation. It is estimated that there are over eight thousand housekeeping companies in Shanghai, and the monthly salary of a domestic helper in Shanghai is approximately RMB6,000. The media reported that China and the Philippines agreed the preliminary proposed monthly salary of Filipino domestic helpers of approximately RMB13,000. The market demand and consumption of these markets are positively in connection with the supply of the Group in the Philippines. The export of Filipino domestic helpers to China can also drive GBjobs business in China, including E-mart, big data business, etc. Therefore, the Group considers that the opportunities brought by Filipino domestic helpers can kill birds with one stone. The accumulated intellectual properties and intangible assets of the Group in the past eight years, including its relationships, customer base, database, value-added big data through database, etc. in China, Southeast Asia, Europe and the United States, etc., are the key elements to support the development of the Group and obtain investors’ trust. The Group will further utilize its intangible assets to play an active role in conducting business and in attracting investment funds. The Group has noticed that overseas software companies can raise huge funds in the market only with their software. The Group will conduct further analysis with positioning in this regard. In recent months, units in other cities, such as Chengdu and Hangzhou, have approached the Group to provide preferential policies. The Group will make reasonable decisions in due course. All in all, the Group has accumulated years of experience and needs time for incubation like other high-tech companies; now it is time to take off and fly high.

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