量子思维(08050) - 2021 - 年度财报

Corporate Information Board of Directors and Committees The company's board comprises three executive and three independent non-executive directors, with audit, remuneration, and nomination committees chaired by independent non-executive directors - Executive Directors include Mr. Wang Xiaoqi, Mr. He Yang, and Mr. Cai Dan (appointed on March 1, 2021)[4] - Independent Non-executive Directors include Mr. Xie Yuxuan, Mr. Liu Chuqi, and Mr. Huang Jianji, with Mr. Xie Yuxuan also chairing the Audit, Remuneration, and Nomination Committees[4] Key Personnel and Contact Information The company's auditor is Pacon CPA Limited, with DBS Bank (Hong Kong) Limited as its principal banker, and its head office in Hong Kong - Auditor: Pacon CPA Limited[7] - Principal Banker: DBS Bank (Hong Kong) Limited[7] - Company Website: www.8050hk.com[7](index=7&type=chunk) Executive Director's Statement Business Environment and Strategy The company faced a challenging business environment due to US-China tensions and the pandemic, but leveraged digital economy opportunities with a dual strategy focusing on e-identity verification and digital payment ecosystems - The business environment was challenging, impacted by US-China tensions and the COVID-19 pandemic[11][14] - The pandemic accelerated digital economy development, creating opportunities for the information system solutions industry[12][14] - The company adopted a dual strategy: developing internet e-identity verification business (via CITIC Net Security) and building an online/offline digital payment ecosystem[13][15] Key Business Developments CITIC Net Security formed a digital technology joint venture with major Chinese telecom operators, while the Group diversified into shared workspaces, electronic component supply, and financial software development - CITIC Net Security formed a digital technology joint venture with China's three major telecom operators and Beijing Zhongdun Anxin, marking a development milestone[18][19] - The joint venture will leverage SIM card advantages to provide information verification, e-signature, and transaction security services, initially for transportation, mobile government, and banking transactions[18][19] - CITIC Net Security has developed the e-citizen e-identity verification product and undertaken multiple banking financial services, e-signature, and information verification projects[20][21] - The Group's diversified businesses include: sub-leasing shared workspaces, supplying electrical and electronic components, developing online learning platforms and financial software, housing information systems, and supplying and installing surveillance cameras[22][23] - In its core business, the Group is developing a unified payment system and platform for a leading Chinese telecom company[24] Outlook The Group will deepen cooperation with major telecom operators to provide digital solutions, leveraging the synergistic effects of e-identity verification and digital payments, while seeking complementary investment opportunities - The Group will collaborate closely with the three major telecom operators, leveraging their networks, infrastructure, sales channels, and market coverage to provide digital solutions[25][26] - Digital solutions will cover services such as information verification, e-signatures, and transaction security, applied to mobile government, transportation, and financial transaction security[25][26] - Internet e-identity verification and online/offline digital payment businesses have synergistic effects, helping to seize digital economy opportunities[27] - The Group will continue to seek investment opportunities that are complementary or expand revenue streams[27] Management Discussion and Analysis Industry Overview China's information system solutions industry faced challenges from the pandemic and US-China trade tensions, yet the pandemic accelerated digital economy growth, creating significant potential in digital identity verification and e-signature markets - The pandemic and US-China trade tensions created a difficult business environment for China's information system solutions industry[32][35] - The pandemic accelerated the popularization of online activities, driving China's digital economy development, which accounted for approximately 35.8% of 2020 GDP[33][36] China E-signature Market Size Forecast | Indicator | 2020 (RMB) | 2023 (RMB) | CAGR | | :--- | :--- | :--- | :--- | | Estimated Market Size | 10.82 billion yuan | 25 billion yuan | >30% | - China's "Internet+" Trusted Identity Verification (CTID) platform processed over 5 billion data records, 3.5 billion identity verifications, and 15 million daily verifications[34][37] - In 2020, payment transactions processed by China's non-bank payment institutions grew by 17.88% to RMB 294.56 trillion, with transaction volume increasing by 14.90% to approximately 827.297 billion transactions[38][39] Business Review The company diversified its business and seized digital economy opportunities, with CITIC Net Security achieving a breakthrough in e-identity verification through a joint venture with major telecom operators - The company continued to promote business diversification, broaden revenue streams, and seize opportunities in China's digital economy[38][39] - CITIC Net Security accelerated the development of internet e-identity verification business, especially the market penetration of its e-citizen product[41][42] - CITIC Net Security formed a digital technology joint venture with China's three major telecom operators and Beijing Zhongdun Anxin to provide cybersecurity digital solutions[46] - CITIC Net Security has undertaken multiple projects, including information verification for securities brokerage firms, digital certificate authentication agencies, and investment banks, and building a unified digital authentication system for a transportation infrastructure design and construction company[46][11] - The Group's diversified businesses include: sub-leasing shared workspaces, supplying electrical and electronic components, developing online learning platform applications, financial software and housing information systems, and supplying and installing surveillance cameras[48][50] - The Group also undertook R&D for unmanned vehicle/drone navigation and positioning systems, remote interactive intelligent cloud platforms, cross-platform high-performance players, simplified ERP systems, and multi-license information security systems[48][50] - Guangzhou Yunbo won a bid to develop and maintain a unified payment system and platform for a leading telecom company, with plans to replicate and promote it across 31 provinces in China[49][51] Prospect The Group will continue its dual business strategy, deepening e-identity verification and collaborating with major telecom operators to provide digital solutions, leveraging digital economy growth and new infrastructure development - The Group will continue its dual strategy: developing CITIC Net Security's internet e-identity verification business and collaborating with various industries to build an online/offline digital payment ecosystem[59][60] - Advances in information and communication technology are driving China's digital economy development, with FinTech and DCEP presenting numerous opportunities[64][65] - The Chinese government's commitment to building new information technology and telecom infrastructure will promote the development of online/offline payment markets and increase demand for internet e-identity verification[64][65] - Internet e-identity verification business and online/offline digital payment system development business have synergistic effects[64][65] - The Group will strengthen cooperation with China's three major telecom operators to provide digital solutions and convenient digital services to increase revenue and profit[66][67] Liquidity, Financial Resources and Capital Structure The company raised approximately HK$100 million in 2013 for subsidiary capitalization and working capital, with improved liquidity and a zero gearing ratio as of March 31, 2021 - The company raised approximately HK$100 million in net proceeds through a subscription on August 5, 2013[68][69] - Proceeds were used for registered capital injection into Guangzhou Yunbo and Beijing Yunbo, and for general working capital[71][72] Financial Resources Overview as of March 31, 2021 | Indicator | Amount (HK$) | | :--- | :--- | | Shareholders' Funds | 28,413,000 | | Current Assets | 56,525,000 | | Cash and Cash Equivalents | 18,847,000 | | Financial Assets at FVTPL | 28,623,000 | | Trade and Other Receivables | 8,830,000 | | Current Liabilities | 34,349,000 | | Net Asset Value per Share | 0.018 | | Gearing Ratio | 0 | | Current Ratio | 1.54:1 (2020: 0.8:1) | - The Group primarily operates in Hong Kong and China, with assets and liabilities mainly denominated in HKD and RMB, resulting in immaterial exchange rate risk[78] - As of March 31, 2021, the Group had no significant contingent liabilities or pledged assets[78] Financial Review During the reporting period, the Group's revenue increased by 55% to approximately HK$41.242 million, achieving a profit attributable to owners of HK$16.703 million, reversing last year's loss Key Financial Data for FY2021 | Indicator | 2021 (HK$) | 2020 (HK$) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | 41,242,000 | 26,556,000 | 55% increase | | Profit/(Loss) Attributable to Owners | 16,703,000 | (26,710,000) | Turned from loss to profit | | Hardware Sales Revenue | - | - | 44% increase | | Service Revenue | - | - | 68% increase | Segmental Information The Group's business is primarily divided into services and hardware sales, mainly serving the Chinese market, with both segments showing significant revenue growth during the period - The Group's business segments include: system development services and other value-added technology consulting services (Services) and hardware product sales[74][76] - Service revenue increased by approximately 68% compared to the previous period, and hardware sales revenue increased by approximately 44%[76] - The Group primarily serves the Chinese market, with zero revenue from the Hong Kong segment[78][79] Employees and Remuneration Policies As of March 31, 2021, the Group had 27 employees, a decrease from 45 last year, with total remuneration of approximately HK$10.12 million, determined by market conditions and individual performance Employee and Remuneration Overview | Indicator | 2021 | 2020 | | :--- | :--- | :--- | | Total Employees (incl. Directors) | 27 | 45 | | Total Remuneration (incl. Directors) | HK$10,120,000 | HK$16,942,000 | - Remuneration is determined by reference to market treatment, individual performance, qualifications, and experience[83] - Benefits include year-end double pay, Mandatory Provident Fund, group medical scheme, and subsidies for further education in relevant fields[83] Significant Investments The Group had no significant investments during the reporting period, other than the business developments disclosed in the outlook - During the reporting period, the Group had no significant investments other than those disclosed in the outlook[84] Annual General Meeting and Register of Members The Annual General Meeting will be held on August 2, 2021, with share transfer registration suspended from July 28 to August 2, 2021, to determine shareholders' attendance and voting rights - The 2021 Annual General Meeting will be held on Monday, August 2, 2021, at 2:00 p.m.[84] - To determine shareholders' rights to attend and vote, share transfer registration will be suspended from Wednesday, July 28, 2021, to Monday, August 2, 2021[84] Corporate Governance Report Corporate Governance Practices The company adopted and generally complied with the GEM Listing Rules' Corporate Governance Code, with two deviations regarding directors' legal action insurance and the non-separation of Chairman and CEO roles - The company has adopted the provisions of the Corporate Governance Code set out in Appendix 15 of the GEM Listing Rules[86] - Deviation from Code Provision A.1.8: No legal action insurance purchased for directors, as the likelihood of litigation is considered low[86][19] - Deviation from Code Provision A.2.1: The roles of Chairman and Chief Executive Officer are not separated, with Executive Directors focusing on new business and investment opportunities until suitable candidates are identified for appointment[86][19] Compliance of Code for Directors' Securities Transaction The company adopted a code for directors' securities transactions no less stringent than GEM Listing Rules, and all current directors complied during the reporting period - The company has adopted a code of conduct for directors' securities transactions no less stringent than that set out in Rules 5.48 to 5.67 of the GEM Listing Rules[91] - All current directors confirmed compliance with the code throughout the reporting period[91] Effective and Experienced Board The Board, comprising three executive and three independent non-executive directors, sets overall strategy, approves financial statements, and oversees risk management, meeting at least four times annually - The Board of Directors comprises Mr. Wang Xiaoqi, Mr. He Yang, Mr. Cai Dan (Executive Directors), and Mr. Xie Yuxuan, Mr. Liu Chuqi, Mr. Huang Jianji (Independent Non-executive Directors)[92][93](