During the Year, domestically, widespread lockdown and historic downturn in the property market were caused by the Outbreak of the 2019 Coronavirus (the "Pandemic"). Internationally, the Russian-Ukrainian war and the trade tension between
Importance of the ITAI Industry continues to rise, while 5G development enters a critical period
With the rapid development of information technology, practical applications are expanding to include information security, cloud computing, big data, artificial intelligence and industrial internet, etc., the ITAI industry has become the top priority in the development of national strategies. In order to continuously improve and expand the development of the ITAI industry, the central government has continued to introduce relevant supporting policies and development strategies, meanwhile repeatedly mentioning the need to safeguard its national security in meetings.
Leveraging favorable policies, 5G technology has been developing in the PRC, and the industry application scenarios have been broadening, becoming a new engine in the construction of "Digital China". In order to continue to stimulate new vitality in 5G application innovation and achieve continuous breakthroughs in the depth and breadth of 5G applications, the central and local governments have been strengthening their support and introducing supportive policies, thereby steadily advancing the construction of 5G base stations.
General market conditions were poor in
Intelligent terminal products sales business is the largest contributor to the Group's revenue, accounting for 92.9% of its total revenue for the Year. During the Year, the Group continued the development, production and sales of customised IoT smart terminals to customers. Revenue from the intelligent terminal products sales business only recorded a year-on-year decrease of approximately 5.5% to approximately
Regarding system integration business, based on the analysis and assessment of customers' needs, the Group provides customers with integrated and customised system solutions based on IoT and related technologies, including overall system planning, development and design, system equipment procurement, system software and hardware equipment integration, system implementation, pilot runs, as well as system management and maintenance. The Group's revenue from the system integration business is derived from one-off projects with fluctuating revenue as compared to other segments. Affected by the suspension of operation and production in a number of industries last year, the Group's system integration business recorded a revenue of approximately
With regard to software development business, the Group plans and designs the software system frameworks and function lists for customers, and also provides customised software application development services based on their business and management needs. Leveraging on its strong software development capabilities, the Group has been providing quality software application development services to serve customers in different industries for many years. The Group's software development business recorded a revenue of approximately
As for system maintenance services business, the Group provides software and hardware system maintenance services for information systems, including system equipment maintenance and management, database maintenance, daily system monitoring and system upgrade, etc. Given that the system maintenance services business is less affected by external factors and has already built a strong customer loyalty, the segment revenue increased by 8.2% year-on-year to
Actively investing in the development of the PRC chip manufacturing through investment in Hangzhou Yixin
With the gradual recovery of our economic environment, the Group will continue to diversify the development of its hardware business. On
The "airflow sensing chip" is one of the main components of electronic atomisation equipment and is in enormous demand in the electronic atomisation equipment market. PRC's electronic atomisation equipment industry is one of the sectors that is bucking the trend of growth during the Pandemic, and the number of patent applications related to electronic atomisation equipment has continued to rise in recent years, reflecting the industry's favourable development towards high technology. Looking ahead, the Group is optimistic about the future of the chip manufacturing market in the PRC and plans to increase its investment in the chip manufacturing market through further investment in Hangzhou Yixin. With the recovery of the current economic environment, the Group is keen to capitalise on the growth potential of Hangzhou Yixin in the relevant business areas and accelerate its exploration of the chip manufacturing sector, thereby broadening the source of revenue.
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* The English name is not the official name and is translated for reference purpose only.
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