Achieved Double-digit Growth both in Revenue and Net Profit
The Embedded Software and Secure Payment Products Segment Increases 34.0%
The Overseas, Hong Kong and Macao Revenue Up 107.5%
Final Dividend of HK 16 cents, Dividend Payout Ratio Up to 77.5%
(21 March 2023, Hong Kong) Goldpac Group Limited and its subsidiaries (“Goldpac” or the “Group”, stock code: 03315.HK), today announced the annual results for the year ended 31 December 2022.
Benefiting from the appropriate marketing strategies and the trust of worldwide customer, the Group made remarkable achievements with solid steps to its forward-looking development plans. The Group continuously improved its business structure and seized the opportunity of the upgrade of third-generation of social security cards, achieving double-digit growth both in revenue and net profit during the year.
Steady Business Growth
Benefiting from accelerating the digital and platform-based transformation, continuously consolidating leading market position in core business, and generating new growth momentum, the Group recorded revenue of RMB1.53 billion, representing a year-on-year growth of 11.2% in 2022. Among them, the embedded software and secure payment products business segment recorded revenue of RMB1.009 billion, representing a significant increase of 34.0% year-on-year. Using digital and platform-based marketing tools to continuously explore new markets, the Group’s revenue from the overseas, Hong Kong and Macao was RMB250.9 million for 2022, achieved a breakthrough growth of 107.5%.
Due to the disruption of the global supply chain and the rising cost of raw materials, the Group recorded gross profit of RMB403.1 million for the year, representing a year-on-year decrease of 0.2%. Benefiting from its further enhanced operational efficiency, and optimized supply chain management, the Group effectively mitigated some of the cost pressure, and recorded net profit of RMB161.0 million, representing a year-on-year increase of 16.7%, thus still maintained its profitability.
The Group upholds a sound financial management strategy and maintains good liquidity. During the year, the Group’s total current assets amounted to RMB 1,819.0 million, providing strong support for the Group to expand core business and promote its digital and platform-based strategy.
The dividend policy for the year is stable. The Board proposed to declare a final dividend of HK 12 cents per share and a special dividend of HK 4 cents per share for the year ended 31 December 2022. If this proposal is approved by the shareholders of the Group at the forthcoming annual general meeting, the final dividend will be HK 16 cents per share, and the total dividend payout ratio for the year would be 77.5%.
Outlook – Building “Digital Goldpac” To Realize the Future Leapfrog Transformation with Innovation
The Group follows closely the trend of digital development, unswervingly promotes the digital and platform-based strategy, innovates its marketing and business portfolio, and enhances the digital operation capabilities to realize the future leapfrog transformation through digital innovation.
Fully Promoting the Digital and Platform-based Construction of the UMV
The inner core of the UMV platform forms the Group’s core operation and management capability for digitalization. Utilizing a unified technical foundation, the UMV platform realizes the standardization of data and information flow for the entire operation process, reshapes the production process and design techniques, minimizes manual processes, significantly improves the operational efficiency of data processing, and accelerates the delivery of products and services. Being designed with a data-centric inner core, the UMV platform is more compatible with the future digital transformation needs of small, customized, personalized and differentiated production batches within financial institutions to enhance operational efficiency, thus further strengthen the Group’s core competitive advantage.
Seizing the Opportunities and Expanding Core Business
Based on our years of experience in the field of financial security payments, the Group has developed solutions that combine digital currency hardware wallets and terminal products. Its digital RMB hardware wallet has successfully passed the POC test of the level 2 digital currency operators, and its relevant digital RMB application solutions was displayed at the 2022 China International Fair for Trade and Service. In the future, the Group will assist more financial institutions to accelerate the integration into the digital currency ecosystem and digital financial inclusion; at the same time, the Group will further explore target consumers in new regions for a wider coverage of the Group’s secure payment products and services in the global market.
Enhancing Cross-domain Application Ability and Broadening Service Scenarios
The Group will increase its investment in the research and application of innovative financial technology, accelerate the expansion of secure payment products and solutions to more industries such as government affairs, transportation and telecommunications, and continuously enhance its intelligent, digital and scenario-based service capabilities to further amplify the commercial value of the Group’s leading technologies and products.
In 2023, the Group marks the 30th anniversary of its founding and the 10th anniversary of its IPO. Looking ahead, the Group will continue the steady development of the past 30 years, insist on its goal of building an innovative ecosystem of the secure payment value chain. By envisioning the development trends of Fintech in the future, sensing the needs of the financial industry, passing innovation and security “DNA” of the Group, and creating leading products, services and solutions, the Group determines to generate new momentum for the innovative development of secure payment industry.