Recent Stockhead article “Just how big a deal is China’s tech crackdown anyway?” (Aug 2nd 2021 by Nick Sundich) is further confirmation of my suspicion regarding FTC company positioning.  There has been a glaring absence of mentions of blockchain in all FTC company communication, between 2019 and 2020. FTC is well and truly aligned with the Chinese government which bodes well for this company. It’s co-operation means that I think that it will endure and have a role in digital currency and the Fintech space in China. During a time where a lot of the tech space is starting to struggle. The language in the latest reports has changed and I believe that they are being very intentional. The next 12 month I believe we will see Increasing profitability as FTC gains more traction

Annual Report 2021 - Interesting Read - Framework for Future Directions

Now profitable Chinese Fintech, Providing software and hardware payment solutions for Merchants, Banks and Individuals. Compatible Integration with Chinese Digital Currency. Adhering fully to PCAC (Payment Clearing Association of China) and laws and regulations for fintechs, digital currency and future BNPL services.

Currently in pilot testing phase for BNPL product. 

Key Points:
1) 11.2 M AUD Revenue
2) 5.7 M AUD Gross Profit
3) 2.0 M AUD Net Profit

207.4% Income increase on FY 20 despite COVID and difficult conditions of operation in China. 

New partnership with Tencent - Jointly launching financial cloud based service solutions which will accelerate the use of T-Linx platform and accelerate exposure to more banks, corporates, manufacturers and SMEs. 

BNPL - FTC will launch BNPL service later in the year in Mainland China. Currently in pilot testing. Technical service fee of 0.5%-1% of gross transaction. 

Impressive direction and plan for this now profitable Chinese fintech. Excited for more details of BNPL offering in China and further adoption of T-Linx system. 

Interested in others ideas in this little known and poorly covered stock. Certainly looks like a very very bright future. 

FTC hits profitable results:

highlights:
Revenue up 53% on March qrt 31/20 despite COVID
profit up 215%
net profit 10,460 million RMB up 1 97%

restructuring service and streamlining reporting categories to help shareholders better understand revenue streams (SaaS cloud etc....)

reports tightening expense control for previous period.

Extension of convertible notes to Dec 2022
3 tranches
1) Aud 500,000
2) USD 500,000
3) USD 376, 687

States multiple times FTC fully adheres to national laws and regulations. 

Confirmation of full compatibility and integration of T-Linx system with Chinese Digital Currency.

Confirmation of move to BNPL interest. Assisting banks connected to T-Linx to access this service offering. Technical service fee for integrating banks and customers BNPL products through T-Linx - charging 0.5% to 1 % of gross transaction. 

Excellent report. Expect very big increases in revenue and profit qrt on qrt here on out.