Hi Sun Technology (China) Limited (the "Company", together with its subsidiaries, collectively known as the "Group"; Stock Code : 0818.HK) is principally engaged in the provision of telecommunication solutions, provision of financial solutions, provision of payment solutions and sales of electronic power meters and solutions.
China Mobile's IVR business has been successfully transitioned to the Jiangsu Base of China Mobile since 1 January 2012, mainly providing audio-oriented integrated services. We have been honored as an excellent partner to the Jiangsu Mobile in 2012. We upgraded our IVR platform step by step into WAVE (Web Audio Video Engine) platform in 2012, which provides integrated services including audio, data, video and web contents. With the application of the platform getting mature, it is expected that more business revenue could be generated effectively. In addition, by increasing the number of mobile operational systems from 4 to 13, we have achieved significant expansion for the cooperation with the Animation and Comic Station Base, and further consolidated our supporting role for the future mobile colour image business. As for our innovation work, we have developed a cloud communication platform, which is expected to commence services in 2013. Such business is mainly used for providing a standard interface for the application developers, so as to enhance their communication services and reduce their development and usage cost. In addition to VOIP (VOICE ON IP) communication and VOIP fixed-line communication which are currently available, we also expect to provide video and conference call services in the future. Currently, we have been conducting trial operation with certain customers, including internet companies and mobile phone manufacturers.
In 2013, network virtualisation, market-oriented pricing and service differentiation of the banks in the PRC are expected to be the trend of development, which will drive the banks to continuously update their IT system. Our core banking system, together with other banking solutions with competitive edge will be able to meet the market demands. Therefore, we have successfully signed contracts with the high-end quality customers from Mainland China, Hong Kong and Macau. Fueled by the subsequent cooperation, we expect a stable growth in market share. In the financial payment area, by integrating banking and internet concepts, our integrated payment platform has been successfully applied to various third-party payment companies and has become one of the leading third-party payment solution providers in the industry. It is anticipated that income from financial payment and its related business will further increase. As for the outsourcing operation, as various banks in Mainland China started to develop their retail banking business and devoted more resources to electronic channels such as ATM and emerging smart banking, business opportunities of outsourcing services will emerge and the economies of scale will be further demonstrated at a later stage of operation.
Following the issuance of the third-party payment licences to nearly 200 companies, including China Mobile, by the People's Bank of China from mid-2011 to 2012, the payment market in Mainland China has been showing a rapid growth momentum. China Mobile's mobile payment business achieved considerable development due to its investment in its electronic business in 2012. Being an important supporting role to China Mobile's overall mobile payment business, we provide supporting services for the software development, system operation and maintenance and expansion of mobile payment businesses. We have successfully accomplished various milestone and received positive feedback. Looking forward in 2013, backed by the expected rapid development of the third-party payment market and China Mobile's further investment in its mobile payment business, we will continue to generate revenues and returns.
Electronic power meters and solutions
During the "Twelfth Five-year" period, the smart grid construction has been fully commenced in the PRC, with an aim to achieve "full coverage, full collection and full cost-control" management of its users. As an important part of the smart grid construction, the development of smart meters and electricity information collection systems has been facing valuable opportunities. In line with the accelerating pace of urbanization, the number of new users will also increase. Smart grid reconstruction works have commenced gradually in the rural areas, and therefore the demand for related equipment will significantly increase. Following the implementation of the provincial and municipal tiered pricing policies, coupled with the vast demand generated by equipment upgrade and replacement, the market in the PRC is expected to flourish in the next few years. On the other hand, many developing countries and developed countries have been constructing, upgrading and replacing their equipment for their smart grids. There is expected to be a strong market demand as a result of the substantial growth in the smart meters and electricity information collection systems. As such, the Group will keep up with the market demand, actively expand its sales channel, accelerate its pace of R&D, enhance the production quality and shorten the lead time of new products in order to increase its market share.