Editor's note: There are many A-share blockchain concept stocks, but there are many speculators, and few have carefully studied their specific businesses. To this end, Odaily will launch a series of special reports to introduce well-known blockchain concept stocks and their specific businesses involving blockchain.
Xinchen Technology (300542.SZ) had its daily limit at the opening of the market on April 1. This is the third time since March 26 that Xinchen Technology has reached its daily limit. March 30,Released by the Cyberspace Administration of ChinaThe first batch of 197 blockchain information service names and filing numbers.
As a block chain concept stock, Xinchen Technology has been2016 Third Quarter Reportsecondary title
Launched the letter of credit business system in 2017
2017 Semi-Annual ReportAccording to the disclosure, the domestic letter of credit business system based on blockchain technology is launched in the bank.
letter of creditIt refers to a written certificate issued by the bank to the exporter (seller) at the request of the importer (buyer) to guarantee the payment of the goods. According to reports, traditional domestic L/C transactions have to go through many banks and express service providers such as the issuing bank, advising bank, presentation bank, and negotiating bank. Each institution completes records in its own accounting system, and the information between institutions is isolated. , opaque, document processing has many problems such as difficulty in authenticity verification, low processing efficiency, easy delay, and easy loss.
Through the decentralization, openness, and non-tampering characteristics of the blockchain, the security of the letter of credit business can be improved. Establish a letter of credit system based on blockchain technology to connect banks and buyers and sellers into a network, making the process of issuing a letter of credit, notification, presentation, acceptance, and payment more transparent and traceable, and all nodes (including buyers and sellers) can see The process and main information of the entire letter of credit business.
Shen Rujun, Vice President of Bank of Communicationshas said, Domestic letters of credit, bills and supply chain financial services will become a breakthrough in the application of blockchain technology in the banking and financial field. July 2017,CITIC Banksecondary title
Forfaiting service launched in 2018
After the letter of credit, Xinchen Technology began to develop blockchain-basedForfaiting business. This business application was launched on September 30, 2018, and completed the first on-chain business between a large state-owned bank and a joint-stock bank.
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BaaS platform and continuously enhanced blockchain layout
In addition to researching and developing related applications, Xinchen Technology has also launched a self-developed BaaS platform. According to the 2018 annual report, the company is continuing to strengthen the blockchain layout.
The BaaS platform refers to embedding the blockchain framework into the cloud computing platform to provide developers with the underlying platform of the blockchain. The concept of BaaS originated from Microsoft and IBM, and subsequently, global technology giants successively deployed.
In terms of scientific research investment, the latest annual report shows that the company's research and development expenses in 2018 increased by 42.60% year-on-year compared with 2017. Expenses are used for R&D investment in the blockchain field, and continue to follow up on relevant mainstream blockchain platforms with their open source community versions to carry out research work on consensus algorithms, encryption algorithms, and cross-chain technology, and promote the implementation of new technologies such as blockchain application.
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Bank-based customer composition
Xinchen Technology Co., Ltd. was established in 1998. On March 30, Xinchen Technology disclosed2018 Annual ReportDuring the reporting period, the company achieved operating income of 819 million yuan, a year-on-year increase of 35.08%; the net profit attributable to the owners of the parent company was 38.3685 million yuan, a year-on-year increase of 34.55%; the company's business mainly includes system integration (constituting 57.29% of the main business), software development ( 29.25% of the main business), professional technical services (11.36% of the main business) and others.
It is understood that Xinchen Technology mainly provides customers with software development services such as data exchange, channel integration, payment settlement, intermediary business, and transaction banking, and provides customers with solutions and services covering IT infrastructure and other system integration aspects. The main customers are commercial banks, including China CITIC Bank, Postal Savings Bank of China, Taiping Insurance, China Everbright Bank, China Export-Import Bank, Central Government Bonds, etc. According to the data disclosed in the annual report, the revenue brought by bank customers was 521 million yuan, accounting for 63.65% of the total revenue.
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The blockchain that has little impact on the company's total revenue
A large number of stable bank customers directly affect the blockchain layout of Xinchen Technology. It is not difficult to find out that both letters of credit and forfaiting are based on banking business.
announcementannouncementannouncementannouncementIt is expected that the company's blockchain-related business income will have little impact on the company's total operating income in the future.
Xinchen Technology currently has 8 subsidiaries and 1 branch company. In 2019, Xinchen Technology will participate in Beijing Qinglin Software Technology Co., Ltd., which has experience in the research and development of big data visualization related products in the public security, political and legal industries, and lay out the construction of public security big data ; In October 2018, it acquired a 51% stake in Beijing Radiin Information Technology Co., Ltd., a provider of overall ICT (information and communication technology) service solutions, in cash.
I am Odaily reporter Wu Suixin (WeChat ID wsuixin12), please note your name, unit, title and reason when adding friends.
I am Odaily reporter Wu Suixin (WeChat ID wsuixin12), please note your name, unit, title and reason when adding friends.
