Guoyuan Hong Kong published a report saying that since the development of electricity meters and mobile payment services was not as good as expected, the investment rating was lowered to holding, and the target price was lowered to HK$11.07, which is 102% less than the current price.

The report pointed out that the slow promotion of mobile payments by China Mobile has directly affected Goyang's payment business. As China Mobile's only developer, operation and maintainer of China Mobile's national account platform, Goyang's share ratio is as high as 20%, but the profit contribution of this business mainly depends on China Mobile's mobile payment promotion progress. In China Mobile's 2.4 GHz standard and China UnionPay's PK where China UnionPay mainly promotes the 13.56 MHz standard, it is difficult for mobile mobile payment services to take steps; furthermore, the 2.4 GHz technology standard requires the replacement of special credit card terminals, and mobile phone users also need to change SIM cards, and cost pressure also causes its promotion to be slow; in addition, China Mobile may now switch to supporting UnionPay's payment standards. All of these factors have directly affected the rapid development of the mobile phone payment business. As a result, the company's revenue from this business falls far short of expectations, and the lack of scale also keeps the business as it is At a loss.

Goyang Technology rose 0.35% yesterday to close at HK$2.88.