Accrelist Returns To Profitability For 1H18

Accrelist reported revenue of US$29.1 million for 1H18, surging almost 50-folds from just US$0.6 million in 1H17. In line with the higher revenue, gross profit was higher at US$2.4 million (1H17: US$0.1 million). Following the consolidation of Jubilee Industries Holdings (Jubilee), excluding one-off expenses,the group returned to profitability with a net profit of US$1 million.

The one-off expenses of US$3 million was mainly due to a US$2.7 million remeasurement loss arising from consolidation of Jubilee and the fair value loss for the convertible loan of US$0.3 million.

Going forward, Accrelist continues to actively seeking new growth into the Fintech sector.

These new business segments comprise of WE Crowdfunding and WE Pay.

WE Crowdfunding is a securities-based crowdfunding platform where both the company and third-party investors can participate in the potential investment opportunities (E-Medical).

WE Pay is an e-wallet solution that integrates seamlessly between physical retailers and consumers using leading global mobile e-payment solutions (E-Payment).

Apart from crowdfunding and e-payment solutions, Accrelist intends to move into the e-medical space as well. The company is currently exploring potential acquisitions of medical aesthetics clinics to launch e-medical services catering to body, skin and face aesthetics.