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Jian Epayment Systems Limited is a company listed on the Growth Enterprise Market of the Stock Exchange of Hong Kong Limited (SEHK) (Stock Code: HK8165). The company has assisted Chinese government to construct the “Intelligent Network Parking Management System” for improving the urban static traffic systems and implementing “Smooth Traffic Project”, during which the company has gradually developed to a big one. The company takes the brand-new intelligent card technology as its orientation, network communication technology as its core aspect of development, and the security in information processing, adaptability in use and convenience in operation as its goal, successfully apply the most advanced e-payment technology to city parking management.

Zhengzhou Jian-O' Yuan ITS Systems Co., Ltd. is a sole subsidiary of Jian Epayment Systems Limited and is also one of the earliest companies engaging in designing, developing, producing and installing electronic parking devices and relevant services. As a high-tech and software company, Zhengzhou Jian-O' Yuan ITS Systems Co., Ltd. has engaged in research on non-contact IC Card technology, equipment manufacturing and system integration, and has achieved scientific payoffs and practice engineering experience in the past ten years. In the aspect of “Intelligent Network Parking Management System” and the relevant products and system management application software, it has obtained intellectual property right certificate, manufacturing license, ISO9001 certificate and relevant qualifications. It has fulfilled successfully the planning and construction of non-contact IC Card E-parking systems for ten cities in China, achieved a series of significant scientific payoffs, and formed a mature and stable manufacturing system.



INFORMATION OF ZHENGZHOU JIAN O' YUAN ITS SYSTEMS CO., LTD.

1. Overview

Established in 1998, Jian O'Yuan is one of the software providers, system integrators and equipment manufacturers of IC card applications in the PRC recognized by the Ministry of Construction. It has a registered capital of US$2.95 million and is mainly engaged in the design, R&D, sales and production and marketing of e-payment management system and the provision of related services. It possesses the certifications of “new and high technology enterprise”, “software development enterprise” and “high and new technology product”, and has been the principal business of the Group since the Company was listed in December 2001.

Since its establishment, Jian O'Yuan has been manufacturing and distributing electronic parking payment systems and its associated commercial applications to parking operators in Beijing, Shanghai, Guangzhou, Wuhan, Nanning, Haikou, Panyu, Harbin, Qingdao, Yichang and Weihai in the PRC. For the past years, Jian O'Yuan had sold more than 26,000 sets of electronic parking meters and specialized software systems/products and had more than 1.2 million IC cards in circulation.

2. Product Description

Major products of Jian O'Yuan include:
A. Provision of design and built-up of large scale electronic receipt/payment and data recording back-end system ( 電子後台支付結算系統 ) to the PRC urban road-side parking operators. The provision of services was also extended to system integration with other multi-purpose card systems operating by other providers, for example, Yangchengtong ( 羊城通 ), which are compatible with the Jian O'Yuan's epayment system;
B. Provision of specialized software and equipments to urban road-side parking operators;
C. Provision of parking terminal equipments, including the parking meters, read/write module, hand-held infra-red data collectors;
D. Formatting of electronic IC parking cards and multi-purpose IC cards;
E. Upgrading and provision of after-sale maintenance services of the electronic back-end system and relevant parking hardware and facilities.

3. Market Conditions

Since the mid-90s, demand for IC card application has been growing in various cities in the PRC. Accordingly, Jian O'Yuan and other enterprises engaging in similar business were established to tap into the market. In mid-2000s, the market consisted of more than 40 large- and mid-sized cities, which were carved up by over 10 enterprises. Jian O'Yuan at that time accounted for a relatively large market share. After years of fast-growing sales and development, demand in some markets reached a plateau. Sales activities had been successively suspended in mid-sized cities such as Harbin, Qingdao, Yichang and Weihai due to the switching of system operators. Subsequently, more competent parking systems continued their survival in various cities. In setting a firm foothold with the major customers in large-size cities such as Guangzhou, Wuhan and Nanning, Jian O'Yuan has gradually introduced enhanced and upgraded equipments. Accordingly, the operations and operating revenue of Jian O'Yuan also enter a new phase in line with the PRC urban parking market cycle.

4. Business Model

Jian O'Yuan's business generates the following revenues:
a) Revenue derived from the provision of design and built-up of large scale electronic receipt/payment and data recording back-end systems ( 電子後台支付結算系統 ) to the customers;
b) Revenue derived from the sales of the specialized software and equipments, system integration and extended system applications of the IC cards and systems to other associated commercial applications (multi-purpose cards);
c) Revenue derived from the provision of the after-sale services and system maintenance; and
d) Revenue derived from the supply and formatting of the electronic IC parking cards.

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