Hong Kong, March 20, 2024/PRNewswire/ -- Jinbangda Baojia Holdings Limited and its subsidiaries (hereinafter collectively referred to as “Jinbangda”, the “Group” stock code: 03315.HK) announced today their annual results for the year ended December 31, 2023.
Steady performance development
The Group recorded total revenue of RMB 1,417 billion this year, down 7.4% year on year, mainly due to insufficient effective demand in the Chinese market. With its leading edge in the field of secure payments, the Group successfully expanded into emerging markets around the world and recorded revenue of RMB 319.9 million, an increase of 27.5% over the previous year. Among them, the revenue of the embedded software and secure payment products business segment increased 27.2% year-on-year in emerging markets around the world to RMB 296.7 million.
The Group promptly adjusted its product structure strategically according to changes in market demand, increased the proportion of high-value-added products, and continued to optimize supply chain management. During the year, it recorded a gross profit of RMB 4201 million, and gross margin increased 3.3 percentage points to 29.7% over the same period last year. Thanks to the Group's strategic promotion and refined management, operating expenses decreased 10.1% year over year. In addition, exchange earnings declined year on year, and the Group recorded net profit of RMB 151.2 million, a decrease of 6.1% year over year. The net interest rate remained stable at 10.7%, and profitability remained steady.
The Group maintains a stable dividend policy. The board of directors recommended paying a final dividend of HK10 cents per share and a special dividend of HK4 cents per share in 2023. If this proposal is approved by the shareholders' meeting, the final dividend will be HK14 cents per share, and the annual dividend ratio will reach 79%.
Future outlook: cutting-edge technology spawns new models and new momentum
Recently, the Chinese government has launched favorable measures to improve the bank card acceptance environment and further improve the multi-level and diversified payment service system, including bank cards. Leading institutions such as the People's Bank of China, China UnionPay, and Online Clearing Corporation have responded positively, and China's payment industry is expected to usher in new changes and new opportunities.
Concentrate on developmentUMV platform
In line with the digital development needs of the industry, UMV, the digital platform innovatively developed by the Group, uses artificial intelligence, privacy computing, big data analysis technology and cutting-edge algorithm models to build a one-stop, full-process digital integrated service platform to reshape the value chain of traditional business models of financial institutions, realize on-demand customized business models for secure payment products, and create an innovative ecosystem for the secure payment industry chain.
Strengthen the layout of new business areas and expand core competitive advantages
In response to the call for “self-reliance and self-improvement with green and low-carbon technology”, the Group combines environmentally friendly payment products such as eco-friendly cards and metal cards with digital card issuance platforms to create diversified secure payment and environmentally friendly zero-carbon solutions to help global financial institutions build sustainable competitiveness.
Seizing the opportunity for China to continue to promote digital yuan R&D pilot, the Group makes full use of the digital yuan industry alliance channel resources to promote the construction of multiple forms, scenarios, and applications of digital currency.
Continue to promote the expansion of security certification technology in multiple fields
The Group's telecom products have completed system integration on the digital currency and digital identity authentication application operator side, and have actively established strategic partnerships with many operators. The Group will continue to expand safety certification technology and solutions to various fields such as telecommunications, transportation, Internet of Things, and automotive communications, and promote integrated applications in various fields.
Open up the global market and enhance international competitiveness
The Group will actively participate in market activities such as global industry conferences and exhibitions to further enhance its influence in the international market. The Group will pay close attention to the differentiated payment needs of various countries and regions, adopt marketing strategies adapted to local conditions, actively explore emerging markets, fully explore potential customers, and continue to expand its global business footprint.
Looking forward to the future, the Group will closely follow the digital development trend of the banking industry, unswervingly promote digital and platform-based development strategies, empower core business development through scientific and technological innovation, and spawn new development models and new momentum with cutting-edge technology.
About Jinbangda (stock code:03315.HK)
Jinbangda was founded in 1993 and listed on the main board of the Hong Kong Stock Exchange in 2013. As one of the leading fintech companies, with more than 30 years of successful experience and leading global technology, Jinbangda provides global customers with embedded software, secure payment products and digital equipment in the field of intelligent and secure payments, and also relies on innovative financial technology to provide data processing services, system platforms and other overall solutions for customers in a wide range of fields such as finance, government, health, transportation, retail, etc.
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