QITIAN Technology(SZ:300061)2022-12-06 11:08Group 1: Company Overview and Acquisition - The company, Qiji Intelligent, is a provider of innovative value-added services for bank cards, focusing on installment services for credit card bills and other consumer products [2] - The acquisition involves purchasing 100% equity of Qiji Intelligent for a transaction price of CNY 2.34 billion, with cash payments of CNY 880.4995 million and the issuance of 148,928,621 shares [3] - The acquisition aims to enhance the company's capabilities in providing comprehensive solutions for financial institutions, improving customer service and increasing revenue from intermediary businesses [2][3] Group 2: Business Operations and Revenue Recognition - Qiji Intelligent's revenue is recognized at different stages for its three main services: product installment sales, credit card bill installment services, and service rights installment services [4] - The company collaborates primarily with bank headquarters, ensuring comprehensive data coverage across regions [3] - The cooperation agreements with banks typically last for 1 to 2 years and do not include exclusivity clauses [3] Group 3: Future Development and Strategic Plans - Post-acquisition, Qiji Intelligent will operate as a wholly-owned subsidiary, maintaining operational independence while aligning with the parent company's resource integration and risk control [5] - The company plans to expand its market share in the card value-added service sector and explore new partnerships with consumer finance companies and mobile operators [6] - The focus will be on technological innovation, enhancing product offerings, and improving operational efficiency to drive growth in both the lens manufacturing and card value-added service businesses [5][6] Group 4: Financial Impact and Market Conditions - Approximately 70% of the company's revenue comes from exports, and the depreciation of the RMB is expected to have a positive impact on operations, depending on the scale of foreign sales and the extent of currency fluctuations [6]