AGM Presentation 2020
Sydney, Jan 29, 2021 AEST (ABN Newswire) - Victor Group Holdings Limited (
ASX:VIG) was officially listed on the Australian Securities Exchange ("ASX") on May 9, 2014 under the stock code VIG (hereinafter referred to as the company abbreviation).
Since 2017 VIG's predominate focus is providing its customers with enterprise management services as well as acting as an operator of cloud enabled smart education platforms.
VIG provides SaaS, IaaS & PaaS solutions to customers, building and operating education cloud platforms which bring together best in class resources and applications from strategic partners such as education service and elearning content providers and offering a wide range of elearning solutions for educational institutions, students and parents.
Education cloud platforms are digital educational resources enabled by cloud computing and other technologies. VIG connect with online leaning spaces and intelligent terminals to provide users with various supporting functions for teaching, learning, research, ad ministration and social interactions, thereby facilitating a full and deep integration of information technologies and learning.
Business model 1: Cloud Education solution Technical Support
Clients require cloud education tools for their existing Students, teachers and courses. Tencent & VIG provide technical services to achieve online lesson preparation, teaching, homework distribution and collection, and assessments.
Potential Clients: RTO (including TAFE, university) and other educational institutions, such as Torrance University, VCE training school etc.
Tencent Support:
1. Online Education Platform and regular maintenance;
2. Technical support for clients to upload their online courses;
3. Assist account opening and cancellation
Business Model 2: Online Course Platform
VIG introduces and promotes online courses for students around the world Courses are provided by VIG and its joint partners, and students can choose their own courses. RTOs are our main Business clients, these include TAFE, universities and other educational institutions as course partners such as Torrance University, GuotaiAn , Haitong,
Potential Clients: To C is Students all around the world, To B is companies or schools who would like to use our courses on the platform.
Tencent Support: Statistics on the revenue of VIG cooperation courses
Business model 3: Exclusive Reseller for the Courses on Tencent Classroom in Oceania
Potential Clients: Oceania students who requires more in depth tutorial outside of their current curriculums.
Tencent Support: Tencent Classroom, and traffic statistics of Oceania students
Financial Highlights
Total revenue at $5.8 m in FY2020, down 16.3% compared to FY2019. Due in part to:
- Discontinuation of VIG's Training and consulting services business in order for the Company to allocate resources to other initiatives with greater future potential.
- Decrease in SaaS, IaaS and PaaS solutions revenue due to the pause in economic activity brought on by the COVID 19 pandemic, resulting in reduced business activities from widespread restrictions on movement.
- Revenue from core operations i.e. the SaaS, IaaS and PaaS solutions down 9.1% vs 16.3% for total operating revenue.
New Cloud Education service offering introduced generating $353k in revenue:
- Resilient business offering which is less affected from COVID 19 disruptions.
- Foundational aspects of building e learning content commenced and expected to accelerate over coming years.
Strategic Growth Initiatives
- The current COVID 19 pandemic is determining a rethinking of consumers' behaviour and purchasing decisions Businesses are trending towards embracing technology to collaborate. And in the educational space, most tertiary institutions are relying on online education as oppose to traditional offline classroom learning.
- VIG intend to capitalise on this on going trend is to acquire and deliver more Australian approved tertiary courses through its cloud based infrastructure.
- VIG see s an opportunity to accelerate the implementation of our growth strategy through strategic investment and targeted acquisitions for complementary technology, Australian education content, market share and/or operations for further Australian expansion.
- VIG will also seek to implement initiatives which can drive students to utilise their cloud educational platforms.
To view the AGM Presentation, please visit:
https://abnnewswire.net/lnk/U8GUQ1C7
About Victor Group Holdings Limited
The Victor Group is a consulting firm specialising in providing enterprise management services. They assist the entrepreneurs/management to better manage their company and provide advisory services in relation to most aspects of running a business (e.g. political, financial, legal, technological, behavioural etc.). Its operating model focuses on carrying out large-scale seminars and specific enterprise management consulting courses. Its current business involves providing Enterprise Management Consulting Services (EMCS) which include marketing management training and consulting courses that are currently delivered offline and face to face. Due to the decrease in traditional business and to take advantage of all aspects of modern digitalised business applications, the Victor Group expanded its existing business to various economic development zones in China through internet after the data center acquisition in June 2016.
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