Goldpac Group Limited (\u201cGoldpac\u201d or the \u201cGroup\u201d, stock code: 03315.HK), today announced the interim results for the six months ended 30 June 2024 (\u201cthe period\u201d).<\/p>\n\n\n\n

Overview<\/strong><\/u><\/strong><\/strong><\/u><\/strong><\/p>\n\n\n\n

Due to global economic slowdown and other uncertainties in the first half of 2024, customers outside the Chinese mainland experienced longer-than-expected purchasing cycles. As the Chinese government tightened risk management of the banking industry, the industry turned to the existing user market which witnessed a decrease in the quarterly circulation of credit cards and credit and debit duo cards. For the six months ended 30 June 2024, the Group recorded a revenue of RMB542.0 million, representing a year-on-year decrease of 27.3%.<\/p>\n\n\n\n

The Group maintained persistence and accelerated the implementation of its digital and platform-based strategy. The Group increased its research and development investment for digital platform, and promoted projects development in automobiles safety, telecommunications, transportation and other fields. The Group\u2019s research and development expenses increased 4.3% year-on-year, accounting for 9.9% of the revenue. The Group recorded a gross profit of RMB132.3 million, and the gross profit  margin was 24.4%, maintaining healthy profitability. Influenced by the decrease of the gross profit, as well as the increase in research and development expenses and the decrease in exchange gains, the Group\u2019s profit for the period was RMB30.5 million, representing a year-on-year decrease of 64.4%.<\/p>\n\n\n\n

During the period, the Group\u2019s revenue from embedded software and secure payment products segment recorded a revenue of RMB290.3 million, representing a year-on-year decrease of 39.2%. The Group\u2019s revenue of platform and service business segment decreased by 6.3% to RMB251.7 million.<\/p>\n\n\n\n

The Group\u2019s financial performance indicators remained stable and healthy. The Group\u2019s available funds totalled RMB 1.163 billion, and the gearing ratio was 18.7% without any loan. The Group has excellent risk resistance capacity to ensure the stability and sustainability of the business, as well as sufficient investment for future research and development.<\/p>\n\n\n\n

Outlook<\/strong><\/u><\/p>\n\n\n\n

The focus of banks on digital transformation brings the Group opportunities for advancing business model transformation through its digital and platform-based strategy. The Group offers comprehensive business services for financial institutions by developing its UMV digital platform. The UMV \u2013 Goldigital platform helps financial institutions to accommodate consumers\u2019 needs for small-batch, rapidly issued personalised products and further enhance core competitiveness. There are already over 18 corporate customers worldwide in fields of finance and transportation using the UMV \u2013 Goldigital platform. The UMV \u2013 YoMee platform for end consumers has partnered with over 20 banks and attracted a continuously growing number of end users with its expanding catalogue of customised secure payment products.<\/p>\n\n\n\n

The Group will continue to utilise the power of the UMV digital platform, propelling the Group on a new trajectory for growth.<\/p>\n\n\n\n

T<\/strong>o Stabilise and Capture a Larger Share of the Current Product Market<\/strong><\/strong><\/p>\n\n\n\n

It is projected that the global credit card market will expand at a CAGR between 5% to 9% from 2023 to 2033. Therefore, the Group will fully utilise the core advantages in the field of secure payment, and leverage the UMV digital platform to advance the development of credit card business. The UMV \u2013 Goldigital platform facilitates financial institutions in realising the entire operations life cycle from offer to delivery, helping them to improve service quality and efficiency. Simultaneously, the UMV digital platform integrates the Group\u2019s internal digital system, facilitating the Group in capturing a larger share of the market.<\/p>\n\n\n\n

T<\/strong>o Promote Innovative Products and Services<\/strong><\/p>\n\n\n\n

During the period, the UMV \u2013 YoMee platform promoted innovative products and services to end consumers, which facilitated banks to improve customer experience, and the platform received positive feedback. Benefiting from international card organisations\u2019 support for environment protection, as well as the positive effect of \u201cRace to Zero\u201d campaign, eco-friendly payment products will embrace a rapid development.<\/p>\n\n\n\n

T<\/strong>o Promote Business Transformation From B2B to B2C2B Models<\/strong><\/strong><\/p>\n\n\n\n

The Group breaks the traditional B2B business model by introducing a B2C2B structure through digital operation and internet traffic aggregation via the UMV digital platform. The Group allows banks to promote the newest and trendsetting secure payment products on the UMV – YoMee platform. With corresponding online promotional events, the UMV – YoMee platform attracts end users\u2019 attention and purchase of secure payment products, which facilitates financial institutions in precision marketing.<\/p>\n\n\n\n

T<\/strong>o Expand Global Business Territories<\/strong><\/strong><\/p>\n\n\n\n

The Group will leverage on the UMV digital platform to promote the business transformation to B2C2B models. The model will change the current situation of repeated allocations of production resources in the global industry via resource aggregation and sharing. Meanwhile, the Group will pay close attention to the diverse needs of different countries and regions around the world and cultivate opportunities to improve market coverage.<\/p>\n","protected":false},"excerpt":{"rendered":"

Goldpac Group Limited (\u201cGoldpac\u201d or the \u201cGroup\u201d, stock code: 03315.H […]<\/p>\n","protected":false},"author":6,"featured_media":6076,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"acf":[],"lang":"en","translations":{"en":6080,"zh-hk":6078,"zh":6075},"pll_sync_post":[],"_links":{"self":[{"href":"http:\/\/www.csyjszp.com\/wp-json\/wp\/v2\/posts\/6080"}],"collection":[{"href":"http:\/\/www.csyjszp.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.csyjszp.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.csyjszp.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/www.csyjszp.com\/wp-json\/wp\/v2\/comments?post=6080"}],"version-history":[{"count":3,"href":"http:\/\/www.csyjszp.com\/wp-json\/wp\/v2\/posts\/6080\/revisions"}],"predecessor-version":[{"id":6093,"href":"http:\/\/www.csyjszp.com\/wp-json\/wp\/v2\/posts\/6080\/revisions\/6093"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.csyjszp.com\/wp-json\/wp\/v2\/media\/6076"}],"wp:attachment":[{"href":"http:\/\/www.csyjszp.com\/wp-json\/wp\/v2\/media?parent=6080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.csyjszp.com\/wp-json\/wp\/v2\/categories?post=6080"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.csyjszp.com\/wp-json\/wp\/v2\/tags?post=6080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}