Anxin Securities Co., Ltd
About Xgd Inc(300130) gem
Issue convertible corporate bonds to unspecified objects
of
Listing recommendation
Sponsor (lead underwriter)
(unit A02, 35 / F and 28 / F, Allianz building, 4018 Jintian Road, Futian District, Shenzhen) January 2002
Shenzhen Stock Exchange:
Anxin Securities Co., Ltd. (hereinafter referred to as “Anxin securities”, “sponsor” and “the institution”) accepts the entrustment of Xgd Inc(300130) (hereinafter referred to as ” Xgd Inc(300130) “, “issuer” and “the company”) to issue this listing recommendation letter for the issuer’s issuance of convertible corporate bonds to unspecified objects (hereinafter referred to as “this issuance”).
The recommendation institution and its recommendation representative are honest, trustworthy, diligent and responsible in accordance with the company law of the people’s Republic of China (hereinafter referred to as the “company law”), the securities law of the people’s Republic of China (hereinafter referred to as the “Securities Law”) and other laws and regulations, as well as the relevant provisions of the CSRC and Shenzhen Stock Exchange, Issue the listing recommendation letter in strict accordance with the business rules and industry self-discipline norms formulated according to law, and ensure that the documents issued are true, accurate and complete. Unless otherwise specified in the text, the definitions of words used in this listing recommendation letter are consistent with the prospectus for issuing convertible corporate bonds to unspecified objects on the Xgd Inc(300130) gem.
1、 Basic information of the issuer (I) overview of the issuer
Chinese name of the company Xgd Inc(300130)
The foreign language name of the company is xGd Inc
Unified social credit code 914403007311028524
Registered address: 17a, Tairan Jinsong building, chegongmiao Industrial Zone, Shennan Road, Futian District, Shenzhen
Main production and operation address: 20 / F, block B, building 10, science and technology ecological park, Nanshan District, Shenzhen
Date of establishment: July 31, 2001
Legal representative: Liu Xiang
Secretary of the board of directors Guo Qiaoyi
Stock abbreviation Xgd Inc(300130)
Stock Code: 300130
Shenzhen stock exchange where the shares are listed
Technical development, production (the business scope of the production project is operated by the branch), sales and sales of bank card electronic payment terminal products (POS terminal, fixed wireless telephone), electronic payment password system products, computer products and electronic products Leasing and services (excluding franchised, exclusively controlled, franchised goods and restricted items); Technology development, operation and services of mobile payment business (excluding production); Import and export of goods and technology; Internet information service.
Registered capital: 489197278 yuan
Industry Classification: special equipment manufacturing
Postal Code: 518000
Fax: 0755-83890344
Email xGd- [email protected].
(II) main business
The company’s main business income mainly includes payment services and merchant services (acquiring services), sales of electronic payment products, sales of biometric products, credit audit services and others. Among them, others mainly include technical services, POS machine leasing and labor services. During the reporting period, the main business income of the company is divided by product category as follows:
Unit: 10000 yuan
Project: January September 2021, 2020, 2019, 2018
Amount proportion amount proportion amount proportion amount proportion amount proportion amount proportion
Acquirer 162874.71 63.45% 156045.57 59.34% 160973.16 53.23% 101617.55 43.86% service
January September 2021 2019 2018
project
Amount proportion amount proportion amount proportion amount proportion amount proportion amount proportion
Electronics
Pay 63251.20 24.64% 81649.57 31.05% 104590.54 34.59% 89372.88 38.58% biological products
Identify 7937.43 3.09% 9888.96 3.76% 11589.47 3.83% 11589.74 5.00% products
Credit 5705.67 2.22% 5986.29 2.28% 9852.17 3.26% 13019.76 5.62% review
Others 16914.84 6.59% 9386.16 3.57% 15406.19 5.09% 16081.63 6.94%
Total 256683.84 100.00% 262956.55 100.00% 30241.53 100.00% 231681.56 100.00%
(III) core technology and R & D level
1, the advanced technology of the company
The company always adheres to the path of independent R & D and continues to increase investment in product and technology R & D. As of September 30, 2021, the company has obtained 180 patents, including 6 overseas patents, 76 domestic invention patents, 438 software copyright certificates, 274 trademarks, including 39 overseas trademarks.
The above scientific research achievements escort the company’s sustainable development and become one of the company’s core competitiveness.
Focusing on the strategic layout of leading electronic payment technology, the company has continuously improved its technology and services and accumulated rich technical reserves. At present, it has the ability to provide complete solutions covering multiple links such as payment terminal R & D and design, system software R & D and product certification technology, and takes the lead in applying Linux open technology in the field of payment terminals at home and abroad Domestic android technology platform; At the same time, the company also has profound technical accumulation in biometric technology fields such as fingerprint recognition and face biometric recognition. On the premise of strengthening security, the company promotes the improvement of customer experience in the field of payment and helps the development of the industry.
Facing the business needs of real-time services, high-frequency transactions and risk prevention and control in the third-party payment industry, the company independently developed an independent payment service system based on the payment transaction processing and service platform of cloud native distributed micro service architecture. The system has completed the construction of three centers disaster recovery system in the two places to prevent uncontrollable risks, greatly enhance the disaster tolerance, scalability and high concurrency processing capacity of the payment system, realize system availability of more than 99.99%, RTO time of less than 60s, application containerization rate of 100%, and multi-dimensional ensure the normal operation of the platform and data safety and reliability, It has the ability to provide various payment and value-added services for tens of millions of merchants and 100 million individual users. The R & D system has been established and Devops R & D, operation and maintenance integration has been completed to meet the company’s existing and foreseeable future business and development needs. With the increasing and changing regulatory requirements of the electronic payment service industry and the increasingly complex fraud behavior mode, the company has built a risk control system based on big data and real-time flow computing, which has the ability of anti fraud risk control and anti money laundering risk control. At present, the processing capacity of the risk control system reaches 30 million times / day, the real-time high-risk interception is within 100ms, and the quasi real-time rules can implement control within 1s; The company focuses on the construction of risk control system, the rules are updated every month, and the monitoring coverage of mainstream crime methods such as fake card and swiping is more than 96%; The loss rate of business fraud remains at one part per million, which is at the leading level in the industry.
The core technologies of the company are independently developed by enterprises, mainly reflected in the certification and testing of software products, patents, practical technologies and related technologies with independent intellectual property rights, See “(II) intangible assets” in “VIII. Main fixed assets and intangible assets of the company” in “section IV basic information of the issuer” of the prospectus for the specific information of the core technology.
2. Mechanisms and arrangements for maintaining technological innovation
(1) Establish a sound R & D management system
The company has established a comprehensive R & D system covering project initiation, product innovation management and intellectual property management, and formulated system documents such as project initiation control procedure, product innovation management manual and intellectual property management measures. The above systems sort out the management mechanisms including organization, process, technical specifications and patent application, Effectively integrate the internal R & D resource allocation of the company, improve the R & D project efficiency and input-output rate, and provide institutional guarantee for the company’s continuous R & D and technological innovation.
(2) Implement R & D performance appraisal and innovation incentive mechanism
In order to fully mobilize the work enthusiasm of the employees of the R & D center, pay common attention to the work objectives of each department of the R & D center, improve the overall performance of the R & D center, implement a standardized performance appraisal and feedback mechanism, timely feed back the performance to the employees, strengthen process management, and promote the managers at all levels of the R & D center to guide, help, restrict and motivate the employees. At the same time, a reward mechanism for R & D innovation has been established to distribute rewards to technology developers who complete relevant intellectual property tasks according to the actual situation for projects with independent scientific and technological R & D and national patents, software copyright projects, projects with technological innovation reaching China’s leading level and projects generating better company benefits. The company has set up an “annual president Innovation Award” to reward technological innovation achievements with outstanding benefits, and encourage technology developers to continue to innovate and continuously improve their R & D level.
(3) Continuously cultivate and introduce high-quality technical talents
In order to increase R & D investment in emerging technology fields, the company continued to cultivate and introduce high-end professionals in relevant fields, optimized and adjusted the organizational structure, formulated the management measures for technical experts in product R & D center by establishing a long-term talent introduction and incentive mechanism, and improved and standardized the internal selection, external introduction and team management mechanism of technical experts in product R & D center, Strengthen R & D technology research and quality research management, promote internal technical exchange and cooperation, and improve product quality and technological innovation competitiveness.
(4) Funds and resources needed to ensure technological innovation
The company focuses on R & D and innovation in the field of electronic payment technology. In the environment of industrial development and innovation, only through active R & D and effective application of emerging technologies can the company seize the opportunities brought by industrial reform, improve its business model and increase its profitability. In order to improve the reliability and stability of product design, meet the strict safety protection needs of the market, verify new products in the future and make full preparations, the company continues to maintain sufficient capital and resource reserves to fully support the development of technological innovation. (IV) main operating and financial data and indicators
Dahua Certified Public Accountants (special general partnership) on the issuer’s consolidated and parent company’s balance sheet as of December 31, 2018, December 31, 2019 and December 31, 2020, consolidated and parent company’s income statement, consolidated and parent company’s cash flow statement for 2018, 2019 and 2020 The consolidated and parent company’s statement of changes in shareholders’ equity and notes to the financial statements were audited, and the unqualified audit reports of dahuashen Zi [2019] No. 007472, dahuashen Zi [2020] No. 004825 and dahuashen Zi [2021] No. 005523 were issued respectively. The main financial data and financial indicators of the company during the reporting period are as follows:
1. Main data of consolidated balance sheet
Unit: 10000 yuan
Project 2021.9.30 2020.12.31 2019.12.31 2018.12.31
Total assets 373024.83 337614.26 337269.85 416040.06
Total liabilities 123699.78 94971.66 91954.92 203959.73
Total equity attributable to owners of parent company 247633.94 242672.99 245205.90 209914.93
2. Main data of consolidated income statement
Unit: 10000 yuan
Project 1-9, 2021
