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Public company info - Edvance International Holdings Limited , 08410.HK
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Edvance International Holdings Limited, 08410.HK - Company Profile
Chairman Liu Yui Ting Raymond
Share Issued (share) 1,001,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry System Applications & IT Consulting
Corporate Profile Business Summary: Details of the Group’s operating and reportable segments are as follows: (1) IT Security Products business refers to the procurement of network security products, system security products and application and data security products by the Group; and (2) IT Security Services business refers to the provision of technical implementation and maintenance and support services to customers by the Group. Performance for the year: The Group’s revenue increased by approximately HK$67.1 million, or 22.2% from approximately HK$302.3 million for FY2018 to approximately HK$369.4 million for FY2019. The Group’s gross profit increased by approximately HK$13.7 million, or 16.2% from approximately HK$84.8 million for FY2018 to approximately HK$98.5 million for FY2019. The Group’s gross profit margin slightly decreased from 28.0% for FY2018 to 26.7% for FY2019. The Group’s profit attributable to owners of the Company increased by approximately HK$8.0 million, or 44.0% from HK$18.2 million for FY2018 to approximately HK$26.2 million for FY2019. BUSINESS REVIEW The Group recorded satisfactory business performance in FY2019. This year, the Group made numerous provisions for a demanding market and continuous looked to increase the Group's cyber security solution offerings, enhance the Group's technical capabilities as well as to improve the Group's manageability. On the one hand, the Group continued to come into new distributor relationship with emerging vendors (three distributorships were agreed during the financial year), while the Group also incorporated Edvance Information Technology Development (Shenzhen) Co. Ltd in the Greater Bay Area of the PRC in Jan 2019. The subsidiary would be actively seeking for IT security products from the PRC to be offered through integration as a solution on the Group's platform, making them available to the Group's clients. The Group also established Green Radar in Hong Kong and Singapore in Jan 2019. Essentially a cloud based “security-as-a-service” provider focusing on email & endpoint “detection & response” security protection by applying big data, global threat intelligence, artificial intelligence technology, together with the Group’s expertise on security. Its aim is to make cutting edge cybersecurity solutions available to the market in a cost-effective rental manner, allowing smaller enterprises to also enjoy the benefits of advance cybersecurity protection. In making its preparation to enhance the overall readiness for the Group to continue to grow its business, management has dedicated attention to bringing up the skillset of the technical team, especially in the soft skills aspects, resulting in better customer satisfaction in the Group's deliverables from presales to project delivery to support experience this year. The Group would endeavour to continue these exercises to encourage continuous development. The previously deployed ERP system has undergone continuous enhancement to integrate further business modules for different aspects of the Group's business, to further enhance overall efficiency, bringing in established procedures, performance measures, exception handling into the Group's management framework. Thus enabling further management intelligence and informed decisions. All in all, FY2019 was a successful year for the Group. While the financial figures were positive and sound, the Group invested in different business model as well as quality improvement measures to ensure organic and healthy growth for the long run. Prospects: In the last one year, it can be seen that enterprises are evolving and adapting to new trends in conducting their business activities; DevOps and cloud services are gaining traction locally, while IoT concepts are being drawn into their business plans. All these would mean new challenges from a cybersecurity perspective. Enterprises are already aware of the impact from traditional cyberthreats. However, there is also increased interests in these emerging techniques and their implication from the security standpoint. As enterprises open up, so too would the evolving cybersecurity challenges that come with it. Cybercrimes are catching on quickly and getting increasingly adaptive and sophisticated, yet the industry is faced with a lack of cybersecurity experts and when available is generally expensive to deploy. This all points to a high industry demand for better cybersecurity products and services with minimal overhead. In this climate, the Group continues to see strong interest in cyber security from the market across the Group's key trading geographies, contributing to business growth in the short and medium term. The Group's business model in Green Radar aims to address some of the concerns, making available cutting-edge cybersecurity protection without the expensive costs for organizations to operate them. As the Group goes into 2019, the Group sees that there are a lot of challenges in delivering effective cybersecurity solutions, and the Group made preparation to adapt to the changing market demands and capture it. Along with the other investments in place, the Group believes that these measures would continue to enhance the overall competitive position in the Group's operating environments and contribute to the Group's success.

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