4C inbound in the next few days, 20M+ would be nice given we're...

4C inbound in the next few days, 20M+ would be nice given we're starting at 5.2M from last quarter and receivables from contracts with customers were 18.8M. We hit 22M in the Dec quarter when the Sept HY reported receivables from contracts with customers were 17.7M so I think this is realistic. Guess we'll soon see ...

Interesting looking at revenue breakdown. Provision of information technology services, the 2-3bps we collect from money processed thru T-linx, has grown from 9.4M to 24M in the last 12 months. There's a few variables that make this number hard to interpret. In the 2019 Investor pres they stated they were processing RMB200M per day via the 2-3bps process and 1.5B via capped fixed fee (as of 15/9/19). They've also stated previously that there is a delay of up to 12m in collection of receipts. RMB 24M equates to ~330M/day processed at 2bps but would be an average and doesn't account for any capped fixed fee or 3bps contribution. If that all sounds confusing, add in the fact the 2020 Investor pres stated 'annual transaction volume has reached over CNY 1 trillion (2020 financial year)' or ~3B/day but did not break down capped fixed fee v 2-3bps fee. So if the values listed in the 2019 pres were delayed 12m to Sept 2020, they would only now be showing up in the 2021 FY report as part of this 24M and would then have increased over the following 6m to bring the avg daily processed amount from 200M up to 330M/day. Maybe. Possibly?

Moving on. Employees increased nicely by ~10% from 122 to 133. There is no longer the paragraph from the auditors stating material uncertainty related to going concern. Top 20 list has hardly changed, still own ~92%. Great to see Tencent Cloud name dropped. Nice to see a few more BNPL details - will be nice if this gets any traction. They were aiming for 5bps for T-linx and only got 2-3 so if they're aiming for 50-100bps will they only get 20-30? Still higher than 2-3 so fingers crossed.

New company updates on the website, including whole province of Liaoning which is the 7th (?) full province roll out by my reckoning. Also other wins not announced on the website include China Post contracts in Anhui and Inner Mongolia.

That got longer than intended. Not much else happening so gives ppl something to read I guess. GLTAH