Introduction: Jin Bangda (3315.hk) is the only one certified by the six major credit card organizations in the world, with the highest profit in the industry, with a net interest rate of 14%. Jin Bangda, a UnionPay partner, includes almost all the banks in China.
In July 2016, the first bank bid, 14 enterprises bid, Jin Bangda highest price, the bank changed the bidding rules, can not win the lowest price, Jin Bangda won the highest price. In the past two years, the company helped the government do software testing services. 2015H2 to the 2016H1 Central Bank rectified P2P and third-party payments. Only more than 20 third-party payment companies renewed their contracts when they expired in May. Tencent and WeChat Pay had to bind a bank card on July 1. There are a lot of problems in third-party payment, Shanghai high-level data interception, do P2P, cheated tens of millions. More than 2800 of the more than 5000 P2P companies have problems. The central inspection team inspected various banks and only began bidding for one of the top five banks in 2016.7, and some major banks have not moved now. The company expects significant improvement and narrowing of volatility in the second half of the year.
Future opportunities: quantum undecryption, the development of digital technology has greatly improved the company's manufacturing performance, upgrading the service industry, Cloud Operation and maintenance platform (B2B2C2B), Pratt & Whitney Finance, Jin Bangda software system won the gold medal, the company to innovation and extension of the price chain.
Bank card asp 0.3-3000 yuan / Zhang, the company has carried out operational transformation, the number of people in the first half of the year has decreased from more than 1700 to more than 1500, the proportion of college graduates has greatly increased, fully automated, dual integration demonstration enterprises.
Overseas markets: Philippines, Singapore Golden Bunda Financial Technology Co., Ltd. (serving 500 million people), Indonesia has legal regulations (foreign ownership cannot exceed 50%), compete with Jinyatuo, double-sided contactless card production center. Chip card chips there are five major domestic enterprises, must promote domestic chips, wto requires that this year must open clearing system, Visa Inc, MasterCard Inc are named before, are using UnionPay channels. One of the two Chinese companies that promote domestic chips has won the largest order of domestic chips from a medium-sized bank. Domestic chips will come out of China in the future.
H1 income of 680 million yuan, down 22%, periodic fluctuations, some projects postponed, the future is still very confident. Gross profit margin rose from 26.7% to 30.2%, adjusting the product structure, the proportion of high-end products is increasing, a metal card is 1000-2000 yuan, R & D efforts are increasing, high added value and solutions. The digital management model makes more and more room for the future, and there is room for improvement of gross profit margin. During the period, expenses increased by 14.4%, R & D increased by 11.7%, continued investment, management and sales expenses increased by 16%, new product expansion made great investment, overseas markets made further groundwork, profits during the period more than 95 million, down 24%, profit margin 14%, further improved in the second half of the year. 81% of revenue is embedded software and security business, 10% of data processing, 10% of solutions, data gross profit margin of more than 40%, solutions of more than 40%, embedded software from 24% gross profit margin to 27%. There was still growth in the second half of the year, inventories were used as reserves, and the increase in accounts receivable was due to the increase in bank operations and the bank's preparation for this adjustment. There were basically no bad debts in history. The receipts in July exceeded the current month's income and improved for the whole year. Cash flow is very good, current liabilities 3.5%, asset-liability ratio 24%, no bank loans. With 1.2 billion yuan in cash, H1 has paid more than 100 million dividends, with net assets per share of 2.17 yuan and net cash of 1.46 yuan.
In 2017.5, all magnetic stripe cards were withdrawn, and the opening of liquidation brought new markets. The gross profit margin increased steadily, and the low gross margin project was abandoned in the first half of the year due to special factors. Software platform is of great significance, the ability of hardware to load software is industry-leading, the test moved to the cloud platform, to the Ministry of Communications to do cloud platform testing. E-ID Transportation Co., Ltd., Suzhou, e-ID Commercial subject Card.
Overseas markets: 19 countries, a year-on-year increase of 24%, Singapore has a list, in 2017 breakeven, set up an Asian subsidiary to do fintech. The Hong Kong and Macao market is developing well, with an increase in orders and a remote background service system to support the demand for personalized cards in Hong Kong. The African joint venture banking system is provided by the company.
The third party pays to install super cos.
With the opening of China's clearing market, dual-currency cards have not been replaced with chip cards. There are 500 million dual-standard cards in China, which will become a single standard in the future. Domestic chip card replacement efforts will be relatively large, the current domestic chip accounted for less than 20%, requiring 50%.
The government stipulates that code scan payment can be used, which is incidental to bank card payment and limits the amount. Code scan payment is a supplement. Nfc rapid payment technology and use mode has a great prospect, nfc payment has formed an environment, the key is to have product support.
