Brief Introduction

WILLFAR INFORMATION (688100) was established in 2004. The Company is one of the earliest companies specializing in energy Internet in China and was listed on the Sci-Tech Innovation Board on January 21, 2020, which is the first energy Internet company listed on the Sci-Tech Innovation Board.

With the development strategy of "Internet of Things (“IoT”) connecting the world, chips creating the future", the Company is one of the earliest enterprises in China to develop the core technology of SaaS system, communication chip, and edge terminal for the energy Internet. It has developed the first set of electricity management system and data collection terminal for Power IoT in China.

The Company is committed to reshaping the efficient management of electricity, water, gas, heat, fire protection, municipal administration, parks, cities, and other energy with the IoT technology, integrating energy flow and information flow to build an energy Internet platform, providing data perception, data transmission, and system application comprehensive energy internet solutions.

The core competitiveness of the solutions provided by the Company is digitization plus IoT, providing various industries with software and hardware edge computing solutions and equipment for carbon-neutral and various scenarios to meet the digitization and informatization of energy Internet system.

The Company's technology and products cover all layers of the energy Internet structure, with the ability to provide total digital solutions from the design of the underlying chips, data perception and data collection products to the communication technologies ensuring high-speed data transmission and stable connections, and software management for users. Deeply cultivating the industry for many years, we have accumulated rich experience in IoT application solutions and formed a high-quality technology and market "moat". The Company is one of the few domestic IoT service providers that provides full-chain solutions.

In the future, WILLFAR INFORMATION will focus on the integration of energy flow and information flow, and devote itself to the technological innovation advantages of the energy Internet and IoT for digital and intelligent cities, and create comprehensive solutions based on achieving carbon neutrality to help governments, enterprises, parks, etc. joining the green and low-carbon carbon neutral action to jointly participate in and promote the realization of China's carbon-neutral goal.

Company Overview

Full name Willfar Information Technology Co., Ltd.
Abbreviations Willfar
Code 688100
Founded 2004-05-08
Listing 2020-01-21
Domicile Changsha, Hunan
STAR Theme New Generation IT
CSRC Sector Information transmission, software and IT
Has weighted voting rights structure? None



  2020 2019 2018
Earnings Per Share 0.56 0.48 0.39
R&D expenditure as a % of operating revenue 8.95% 7.97% 7.13%
Operating Revenue 1,448.59 1,244.05 1,038.64
Net Income 275.31 217.38 177.05

Income Statement (Unit: RMB mn)

  2020 2019 2018
Operating Revenue 1,448.59 1,244.05 1,038.64
Operating Costs 926.69 820.44 699.21
Operating Income 321.23 248.04 199.83
Pretax Income 324.76 251.24 200.85
Income Tax 48.79 33.52 23.69
Net Income 275.31 217.38 177.05

Balance Sheet(Unit: RMB mn)

  2020 2019 2018
Current Assets-Total 2,836.44 2,019.36 1,491.14
Non-current Assets-Total 448.19 427.51 412.82
Total Assets 3,284.63 2,446.87 1,903.97
Current Liabilities-Total 921.63 873.30 561.87
Non-current Liabilities-Total 8.01 7.82 4.27
Total Liabilities 929.64 881.11 566.15
Stockholder's Equity
Share Capital 1,573.38 968.42 968.42
Retained Profits 781.61 589.40 361.81
Total Owners' Equity 2,354.99 1,557.82 1,330.23

Cash Flow Statement (Unit: RMB mn)

  2020 2019 2018
Net Cash Flows-Operating 188.57 227.46 239.10
Net Cash Flows-Investing -32.29 16.43 -47.52
Net Cash Flows-Financing 507.82 - -

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%
Qingdao Langxing 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%
As of 2021-03-31

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