Brief Introduction

Willfar Information Technology Co., Ltd.(“Willfar” or “the Company”) established in 2004, which is one of the earliest professional manufacturer enterprises in smart utilities industry in China. The Company concentrates on providing synthetical application solution of Internet of Things, and commits to reshape the mode of metering power, water, gas, heat and other energy resources by applying the Internet of Things technology.

Willfar dominates the design and manufacture of modular power information acquisition terminal, energy data acquisition terminal adopted ARM platform and Linux operating system, communication relay products which are compatible with multiple products. Besides, the company takes the lead in the application of multiple meter reading, LoRa micro power long-distance wireless communication, DMA zone metering and other technologies and systems in provincial capital cities and large enterprises. The Company has obtained over 600 patents, including over 70 patents for invention.

The company has collected energy information for more than hundred million domestic users and about ten-million overseas users, the sales network covers more than 30 provinces in China and Africa, Asia, Europe and other major global market. Our major clients, such as State Grid, China Southern Power Grid Company, China Petroleum, Siemens, Huawei and other enterprises, highly approve our products and services. According to the statistical results of the winning bids of State Grid and China Southern Power Grid over the years, our products come out in front, which belongs to the primary echelon enterprise in the industry.

Company Overview

Full name Willfar Information Technology Co., Ltd.
Abbreviations Willfar
Code 688100
Founded 2004-05-08
Listing 2020-01-21
Domicile Changsha, Hunan
Website www.willfar.com
Email tzzgx@willfar.com
STAR Theme New Generation IT
CSRCSector Information transmission, software and IT
Has weighted voting rights structure? None

Financials

Highlights

  2018 2017 2016
Earnings Per Share 0.39 0.34 0.28
R&D expenditure as a % of operating revenue 7.13% 8.21% 7.67%
Operating Revenue 1,038.64 995.09 680.31
Net Income 177.16 153.36 80.50

Income Statement (Unit: RMB mn)

  2018 2017 2016
Operating Revenue 1,038.64 995.09 680.31
Operating Costs 699.21 640.79 494,25
Operating Income 199.83 167.42 76.01
Pretax Income 200.85 175.50 88.64
Income Tax 23.69 22.15 8.13
Net Income 177.16 153.36 80.50

Balance Sheet(Unit: RMB mn)

  2018 2017 2016
Assets
Current Assets-Total 1,491.14 1,235.95 1,165.44
Non-current Assets-Total 412.82 421.55 305.42
Total Assets 1,903.97 1,657.51 1,470.85
Liabilities
Current Liabilities-Total 561.87 492.20 525.61
Non-current Liabilities-Total 4.27 4.65 134.51
Total Liabilities 566.15 496.85 660.12
Stockholder's Equity
Share Capital 968.42 968.42 320.08
Retained Profits 361.81 184.76 490.66
Minority interests 7.58 7.48 -
Total Owners' Equity 1,337.82 1,160.66 810.73

Cash Flow Statement (Unit: RMB mn)

  2018 2017 2016
Net Cash Flows-Operating 239.10 179.06 88.54
Net Cash Flows-Investing -47.52 -117.96 228.66
Net Cash Flows-Financing - 8.00 -425.77

Top 10 Shareholders

Name No. of Shares Held (mn) % of Shares Held
Wasion Group Limited 183.33 36.67%
Power Well Creation Limited 109.24 21.85%
Changsha Langjia Enterprise Consultation Partnership (Limited Partnership) 76.50 15.30%
Ji Wei 26.99 5.40%
Kat Chit 13.49 2.70%
Changsha Zhuohe Enterprise Management Consultation Centre (Limited Partnership) 10.11 2.02%
Changsha Ruitong Enterprise Management Consultation Centre (Limited Partnership) 10.11 2.02%
Changsha Yaocheng Enterprise Management Consultation Centre (Limited Partnership) 10.11 2.02%
Changsha Mingqi Enterprise Management Consultation Centre (Limited Partnership) 10.11 2.02%
Huatai Wasion Group No.1 Star Market Employee Stock Ownership Collection Property Management Project 5.00 1.00%
 

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