Maintaining consistent profitability and robust operating cash flow
Dividend payout ratio up to 81%
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 2024.
The downturn of the global economy combined with weak growth in the industry posed greater challenges and pressure to the Group’s overall operations in 2024, and thus the Group has entered into a transformative period of corporate development to bolster its strength in preparation for another rebound. The Group has initiated a restructuring from the Board to management level, establishing a management team that is younger and more adapted to the changing digital era. At the same time, the Group is fully advancing the digital, platform-based and globalisation strategy.
Despite the intensification of pressure, the Group’s digital and platform-based strategy has produced remarkable results. The users of the UMV platform has achieved a rapid growth, from about 30 to more than 200 bank headquarters and 1,600 bank branches. At the same time, the interactive platform integrating AI technologies has initiated preliminary digital operation features, realising the transformation from a decentralised and discreet process, to an intelligent and visualised one of payment card service operation.
During the year, the Group recorded a revenue of RMB1.095 billion, gross profit of RMB0.259 billion, and profit for the year of RMB49.5 million. The Group continues to maintain a healthy financial status with good liquidity and adequate liquidity resources, which fully meets the daily operations requirements, and also provides continuous and robust support for innovative R&D and strategic transformation. Therefore, the Group maintains a stable dividend policy. The Board proposed to declare a final dividend of HK5.5 cents per ordinary share for the year ended 31 December 2024. If approved by the shareholders at the Annual General Meeting, the final dividend will be HK5.5 cents per share, and the dividend payout ratio is up to 81%.
Full implementation of the digital and platform-based strategy, and focusing on new business models, new technologies and new human resources
New business models: the UMV platform provides bank customers with new operational models and services across the whole business process
For the first time globally, the UMV platform realises real-time, online interactions and visibility of the payment card operations process on one platform. This is a typical application of AI technologies in the payment card operations process, which effectively addresses the core issues of cost, efficiency and user experience, and is helpful in business operations and management workflows for banks, as well as assisting banks in risk management.
Under the pressure of economic downturn, boosting domestic demand has become a central concern as highlighted in the Government Work Report at the recent third session of the 14th National People’s Congress. The UMV platform is turning towards end consumers to seize new market opportunities. The Group is building a more comprehensive, timelier, and more precise credit card benefits platform, and a larger, more active, higher quality credit card users community platform. Focusing in the Guangdong-Hong Kong-Macao Greater Bay Area, the UMV platform innovates on benefits design, precise marketing and user operations, etc., through deep integration of market ecosystems and scenarios. It facilitates financial institutions in acquiring and activating consumers, which is effective for boosting consumption, and further assists banks in improving efficiency and quality.
New technologies: fueling the digitalisation and platform-based development
In controlling its overall operating expenses in 2024, the Group still maintains R&D investment of up to 100 million yuan, and the proportion has raised to 9.5%. At the same time, aligning with the development of digital business and platform-based strategy in the long run, the Group has optimised its R&D team to improve efficiency.
The Group sets out to develop a new generation of encryption algorithms, and increases its research in fields like finance, telecommunications, and social security. At the same time, the Group will also increase its investment in fields like AIGC and eSIM.
New human resources: foundational support for digital and platform-based development
The Group has initiated a youth-oriented talent strategy. From the Board to management team, the Group has significantly increased the appointment of younger professionals. This is complemented by rotational leadership regime and competitive recruitment mechanism for key management positions. Meanwhile, the Group is accelerating the construction of high-tech advanced talent system and the implementation of global talent pool strategy.
In 2025, the Group will positively face challenges and pressure, fully advance the digital and platform-based strategy, and focus on new business models, technologies and human resources to gather momentum for future development.