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Company Background
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 sales of electronic power meters and solutions, provision of telecommunication solutions and operation value-added services, provision of financial solutions, services and related products and provision of payment solutions and services.
Electronic power meters and solutions
In view of the escalating global awareness on energysaving solutions, power grids are looking out for environmental-friendly, effective and efficient electricity network and energy system. In China, the State Grid has proposed to construct a Strong and Smart Grid by Year 2020. All these factors are expected to contribute to the market demand for electronic power meters. With the change in tendering process and the new standards of smart meters conforming to the smart grid infrastructure, intensive competition is enforcing market consolidation of the electronic meter industry. It is anticipated that only the strong enterprises will survive. In the early stage of the market restructuring, the profit margin of this segment is expected to diminish. Looking ahead, we will place tremendous effort in R&D and cost saving measures to improve our profit margin.
Telecommunication solutions and operation value-added services
Hi Sun continues to benefit from its agreement with China Mobile to provide the sole nation-wide IVR platform which brings to the Group a perpetual revenue stream. In 2011, Hi Sun plans to focus on the development of communitization voice services such as voice microblog business and aggressively expand related business such as mobile games, animation and comics. Hi Sun believes that the rapid and strong growth in mobile internet will bring opportunities for new products and high value-added services and solutions in the long run. Apart from the existing businesses, we will continue to develop other innovative wireless value-added solutions and services in the PRC.
Financial solutions
During the recent years, we have refocused certain measures to extend our underlying strength and expertise in providing cross-industry value-added solutions, including industrial advisory, business operation solutions, system development and operation services, and other outsourcing services in order to create more stable, sustainable and recurring income streams. The banks and other financial institutions worldwide are increasingly outsourcing certain non-core management functions to simplify operations and lower costs. However, financial outsourcing services market in China is still at an early stage. Taking advantage of our relatively significant experience in deploying financial solutions, we are able to leverage upon our expertise to take advantage of the future business opportunities. Our mission is to enhance our position and become a significant service provider to financial institutions in Mainland China.
Payment solutions
In the application of the emerging mobile e-commerce, mobile payment has always been considered by the industry as an important aspect of future development. Mobile payment refers to an integration of payment card, online banking, payment on behalf, third-party payment and other electronic payment. Being the largest mobile phone market in the world, mobile phones permeat all spheres of people's social life in China. Such huge base of mobile phone users has established an excellent foundation for the development of mobile payment in China. The evolution of the mobile phone payment market is mainly attributable to the development of application of 3G mobile communications and favorable payment environment, coupled with the determination of promoting the mobile phone payment market by telecom operators, banks, third-party payments and other players in the industry.
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