HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

Shenzhen Forms Syntron Information / Equity Capital Markets

Shenzhen Forms Syntron Information (FMSY HK)

<ul>
<li>The "reduction in revenue but increase in profit" occurred because Forms Syntron actively withdrew from low-profit projects rather than being driven by internal growth. However, this model has shown “cracks”</li>
<li>For technology service providers like Forms Syntron, although the sandbox verification has been completed, order conversion still depends on the capital expenditure rhythm of licensed institutions and selection of suppliers.</li>
<li>P/E of the fintech/software services sector in HK market is usually within the range of 15-40x.Considering the risk discount for concentrated customer base, neutral scenario could be P/E of 25-35x</li>
</ul>


The "reduction in revenue but increase in profit" occurred because Forms Syntron actively withdrew from low-profit projects rather than being driven by internal growth. However, this model has shown “cracks”
For technology service providers like Forms Syntron, although the sandbox verification has been completed, order conversion still depends on the capital expenditure rhythm of licensed institutions and selection of suppliers.
P/E of the fintech/software services sector in HK market is usually within the range of 15-40x.Considering the risk discount for concentrated customer base, neutral scenario could be P/E of 25-35x


Pre-IPO Shenzhen Forms Syntron Information (PHIP Updates) - Some Points Worth the Attention

Hong Kong

Shenzhen Forms Syntron Information Co., Ltd. is an established fintech service provider in the banking industry, based in the Greater Bay Area, delivering fintech software development, consulting, and system integration services to financial institutions across Chinese Mainland and Hong Kong. The company's services are driven by two proprietary technology platforms, FINNOSafe and FINNOSmart, and it holds seven granted patents and 345 software copyrights.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
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Dividend (Yield)	0.00

Pre-IPO Shenzhen Forms Syntron Information (PHIP Updates) - Some Points Worth the Attention

The core issue the market needs to clarify is Whether profit improvement under the decrease in revenue is sustainable. Considering the risk...

Xinyao (Criss) Wang