Forms Syntron(SZ:300468) Zhi Tong Cai Jing·2025-12-24 14:00Company Overview - Sifang Precision Technology Co., Ltd. (四方精创) has submitted its listing application to the Hong Kong Stock Exchange, with CMB International and Guosen Securities (Hong Kong) as joint sponsors [1] - The company is a fintech service provider focused on the Greater Bay Area, offering software development, consulting, and system integration services to banks and financial institutions in mainland China, Hong Kong, and Southeast Asia [2][3] Service Offerings - The company provides three main service categories: fintech software development, consulting services, and system integration services [3] - Fintech software development includes banking technology services, financial infrastructure, and fintech innovation services, such as integrated software systems for personal and corporate banking, digital banking solutions, and data services [3] - The company’s revenue primarily comes from fintech software development, utilizing two revenue models: cost-plus pricing and project-based pricing [3] Financial Performance - The company's revenue for the fiscal years 2022, 2023, 2024, and the nine months ending September 30, 2025, were approximately RMB 664 million, RMB 730 million, RMB 740 million, and RMB 454 million, respectively [4] - The net profit for the same periods was approximately RMB 41.19 million, RMB 47.38 million, RMB 67.36 million, and RMB 66.58 million [5] - The gross profit margins for these years were 32.5%, 30.2%, 33.1%, and 40.3% [6] Industry Overview - The fintech software development market in mainland China and Hong Kong has grown rapidly, from RMB 100.3 billion in 2020 to an estimated RMB 158.8 billion by 2024, with a compound annual growth rate (CAGR) of 12.2% [8] - The banking sector is a significant contributor, expected to account for 69.6% of the market share in 2024, increasing to 73.9% by 2029 [9] - The Hong Kong fintech software development market is projected to reach RMB 9 billion by 2024, with a CAGR of 7.8% from 2020 to 2024, and is expected to grow to RMB 36.3 billion by 2029 [12] Competitive Landscape - The fintech software development market is competitive and fragmented, with service providers and in-house development teams contributing to the market [17] - By 2024, fintech software development providers are expected to account for approximately 53% of the total revenue in the banking sector [17] - The company ranks 15th in terms of software development service revenue in the banking sector, with a market share of 1.2% [18]