(Hong Kong – 4 January 2021) The leading cybersecurity company in Hong Kong, Edvance International Holdings Limited (“Edvance International” or the “Company”, together with the Company’s subsidiaries, collectively the “Group”) (SEHK stock code: 01410.HK), is pleased to announce the establishment of a new subsidiary company – ESH (Hong Kong) Limited (“ESH”, the abbreviation of “Edvance Service Hub”) for the purpose of allocating more resources to develop diversified cybersecurity technical services, and fully capture the opportunities in the fast-growing market.
The Group provides cybersecurity solutions through the subsidiary company – Edvance Technology (Hong Kong) Limited (“Edvance Technology”), including distribution of cybersecurity product and related technical services. For the six months ended 30 September 2020, the Group recorded revenue of HK$110.23 million and HK$90.27 million in cybersecurity product and services segments, respectively. Service-related business accounted for about 45% of the total revenue.
The new business structure allows Edvance Technology and ESH to execute in parallel using channel partner business model, with an aim to expand the market share of two major business segments. Edvance Technology will focus on cybersecurity product distribution, whilst ESH will engage in the related technical services. Leveraging on the company’s technical strength in cybersecurity, ESH will develop comprehensive cybersecurity services solution package to meet enterprises’ cybersecurity service needs. To support the business growth, a new ESH office with a floor area of over 10,000 square feet in Kwun Tong Prosperity Center will be officially launched in March 2021.
The Group has made corresponding management changes. Mr. Francis Lee, the Chief Executive Officer of Edvance Technology, will be appointed as Chief Executive Officer of ESH, leading the company in the business development of cybersecurity technical services. Ms. Sammi Tsai, the Managing Director of Edvance Technology, will take up the position of Chief Executive Officer.