Tradelink 2019 Interim Report

08 Tradelink Electronic Commerce Limited  Interim Report 2019 Management Discussion and Analysis (Continued) 管理層討論及分析 （續） 中美貿易糾紛尚未解決，影響全球經濟， GETS 業務下半 年的前景並不明朗。雖然此外在因素非我們所能控制， 但我們仍會竭盡所能，提供客戶認為物超所值及最有效 率的服務。就政府貿易單一窗口（「單一窗口」）狀況方 面，於二零一九年上半年完成另外 5 份文件，連同二零 一八年底前完成的首 5 份，合共為 10 份文件。該等文件為 單一窗口第一階段下原訂於二零一八年中推出的 13 份文 件當中的 10 份。我們會密切監察第一階段的實施及此先 導階段的市場反應，以助制定策略，準備全面單一窗口 的推出。 我們對供應鏈應用方案業務下半年的前景甚為樂觀。除 有任何不可預見的情況或無法控制的問題外，根據目前 的項目時間表及計及迄今的進度，主要龐大倉庫項目及 配套穿梭貨架系統應於本年底前可完工。我們亦極有機 會贏得多項主要合約，一旦訂單確實，須於本年底前動 工。我們就研發中間件項目向政府申請資訊科技支援資 金，該中間件讓倉庫營運商能靈活地實施自動化倉庫解 決方案，我們喜獲政府批出資金，於六月展開此項為期 9 個月的項目。 身份管理（「身份管理」）業務回顧 於二零一九年上半年，本集團的身份管理業務收益為港 幣 23,500,000 元，較去年同期的港幣 27,000,000 元減少 13.1% 。於報告期間，身份管理業務的持續經常性及項 目收益錄得接近雙位數字的按年增長，惟其保安編碼器 業務及相關交付服務的收益則大跌 60% ，收益減少港幣 5,300,000 元；這解釋身份管理業務整體收益減少的原 因。誠如二零一八年年報所述，由於主要銀行客戶向彼 等的顧客發出電子編碼器取代實體編碼器，我們預期保 安編碼器交付服務的收益將會銳減。於成本方面，為加 強解決方案，緊貼瞬息萬變的技術及市場發展，於報告 期間，我們投放大量額外資源於研發工作，特別是提升 電子化認識你的客戶（「電子化認識你的客戶」）解決方 案，以支援內嵌更多先進頂尖保安功能的新香港智能身 份證（「香港身份證」）。由於額外研發開支使成本總額上 漲，於上半年，身份管理業務的分部溢利自去年的港幣 4,900,000 元減少接近 60% 至本年度的港幣 2,000,000 元。 As for the outlook of our GETS business in the second half of the year, it is uncertain with the yet to be resolved Sino-US trade conflicts affecting the global economy. Although this external factor is beyond our control, we would do all our best to deliver the most effective services that customers would consider as having great value-for-money. Regarding the status of the Government’s Trade Single Window (“SW”), 5 more documents had been rolled out in the first half of 2019, bringing the total to 10 including the first 5 launched before the end of 2018. The 10 documents are among the 13 documents originally planned under Phase 1 of the SW to be rolled out in mid-2018. We would closely monitor Phase 1 implementation and market responses to this pilot phase to help the development of our strategy to prepare for the full SW launch. We are more optimistic about the prospect of our Supply Chain Solutions business in the second half of the year. Barring any unforeseeable circumstances or issues outside our control, the main mega warehouse project and the ancillary shuttle racking system should be completed before end of the year according to current project schedule and taking into account the progress made to date. We also have high chances of winning a couple of major contracts, with work needing to begin before the end of the year once orders are confirmed. Regarding the application for IT support funding from the Government for our project to research and develop a middleware that would provide flexibility to warehouse operators to implement automated warehousing solutions, we are glad that we received the funding approval from the Government to commence this 9-month project in June. Identity Management (“IDM”) Business Review For the first half of 2019, the Group’s revenue from IDM business was HK$23.5 million, down 13.1% compared to the HK$27.0 million made in the same period last year. During the reporting period, both the ongoing recurrent and project revenue of our IDM business recorded near double-digits growth year-on-year, whereas the revenue from security token business and related delivery service plunged 60%, itself representing a loss of revenue of HK$5.3 million; and explained the overall revenue drop of our IDM business. As mentioned in the 2018 Annual Report, we expected revenue from security token delivery service to shrink as our major bank customer had been replacing hard tokens issued to their clients with soft tokens. On the costs side, to enhance our solutions to keep pace with fast evolving technology and market development, during the reporting period, we have deployed considerable additional resources on Research and Development (“R&D”) work, in particular, to enhance the electronic Know-Your-Customer (“eKYC”) solutions to support the new Smart Hong Kong Identity (“HKID”) Card embedded with more advanced and sophisticated security features. With extra R&D expenses incurred jacking up total costs, the segmental profit of our IDM business for the first half year dropped almost 60% from HK$4.9 million last year to HK$2.0 million this year.