Amid Strong International Push, Tianyu Reports a 1,867.4% YoY Growth in Net Profit Attributable to Shareholders in Q1
WUHAN,China,May 17,2023 -- Tianyu Information (300205.SZ) ("Tianyu" or the "Company"),one of the world's largest manufacturers of smart payment terminals,continues to excel in its international business,with impressive results in the first quarter of this year,as the company has placed significant focus on expanding its global presence against the backdrop that the digital transformation in the global financial industry has accelerated.
During Q1,Tianyu reported a 1,867.4% year-on-year growth in net profit attributable to shareholders,primarily driven by its expansion in the domestic and international markets.
Embracing the rapid development of the international smart card market and the increasing penetration of non-cash payments in various regions,Tianyu is well-positioned to capitalize on these favorable trends. In 2022,Tianyu's international business raked in about 383 million yuan (US$55.2 million) in revenue,up 306.2% year-on-year.
"We've spotted promising opportunities in the international market,particularly for smart cards. With our strengths in securing stable and sufficient supplies of chips,we have successfully expanded our clientele and served an increasing number of domestic and international commercial banks and telecom service providers," said said Gordon Lee,General Manager of the International Dept. at Tianyu. "We're also actively working to localize our services to better expand our global presence."
Tianyu products have gained wide recognition from various international organizations and have obtained relevant patents. Just last year,the Company obtained 42 new patents overall,including 23 invention patents. Notably,six of its smart cards and payment terminal products have received certification from renowned international organizations such as VISA,MasterCard,JCB,American Express and DISCOVER. Its financial card products have also earned recognition from regional institutions,such as Thailand Bankers Association and Saudi Arabia's Mada Pay,among others.
These patents and certifications exemplify Tianyu's robust technical capabilities,underpinned by their unwavering commitment to research and development. In Q1 of this year,the company allocated nearly 41.2 million yuan (US$5.92 million) to R&D efforts,a significant 40.38% increase compared to the same period last year.
Notably,Tianyu has made significant breakthroughs in key markets in the Asia-Pacific,Middle East,and Africa regions,resulting in a substantial increase in sales revenue for telecom cards,banking cards,and payment terminals. Specifically,Tianyu has rolled out a slew of new smart payment terminal products – namely P10,T70 and QR Payment Terminal – catering to a wide range of needs in the overseas cashless payment markets. Such smart POS services have obtained several regional certifications,including Rupay from India,ASPI from Indonesia and eftPOS from Australia.
Looking ahead,Tianyu plans to continue improving its international financial terminal product market channels to expedite the large-scale sales of its POS products,while further exploring opportunities in the IoT and cloud sectors.
About Tianyu
Tianyu (www.whty.com) is a leading technology company providing comprehensive digital solutions,from fintech to smart devices,IoT,and data security. With 20+ years of experience,Tianyu is an industry leader in China's telecom and banking smart card markets and a top-four global POS provider,dominating Asia's POS business. The innovative R&D and strong production capabilities make it a trusted partner for businesses seeking to thrive in the digital era. With over 2,000 employees,Tianyu empowers its vision for a secure and intelligent information life for all.
Media Contact
Catherine Dong
dongqun@whty.com
