According to Futu News on January 11th,$WELLCELL HOLD (02477.HK)$Today's dark market opened higher. It is now up 46.00% to HK$1.46, with a turnover of HK$567,200 and a total market value of HK$730 million.

Market Source: Futu Securities Securities>

Company Overview

The Group is a network support and information and communication technology (ICT) integration service provider and software developer for China Telecom. When it started business in 2003, it was mainly engaged in developing telecommunication network performance analysis software, then expanded its business scope to provide telecommunication network support services and ICT integration services. During the track record period, the Group was engaged in providing (i) telecommunication network support services, including wireless telecommunication network optimization services and telecommunication network infrastructure maintenance and engineering services; (ii) ICT integration services; and (iii) telecommunication network-related software development services. In 2022, the Group's revenue from wireless telecommunication network optimization services, telecommunication network infrastructure maintenance and engineering services, ICT integration services, and telecommunication network-related software development services accounted for about 0.8%, 0.01%, 0.03% and 2.5% of the market share (in terms of revenue) of the relevant industries in China in the same year, respectively.

Financial Overview

In terms of financial conditions, the Group's revenue increased slightly during the track record period, to approximately RMB 196 million, RMB 203 million, RMB 227 million and RMB 114 million in the six months of FY2020, 2021, 2022 and 2023, respectively. In fiscal year 2020, fiscal year 2021, fiscal year 2022 and 6 months of 2023, (i) wireless telecommunication network optimization services accounted for approximately 47.9%, 49.2%, 45.1% and 37.3% of the Group's revenue; (ii) telecommunications network infrastructure maintenance and engineering services accounted for about 20.3%, 20.6%, 19.7% and 16.4% of the Group's revenue, respectively; and (iii) ICT integrated services accounted for approximately 19.7%, 20.9%, 24.1% and 31.2% of the Group's revenue, respectively. ICT integration services recorded considerable growth during the track record period, mainly due to an overall upward trend in the number of major projects.

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