SGOCO Group, Ltd. is a conglomerate group of various businesses with its headquarters based in Hong Kong. The group is principally engaged in (a) Virtual Reality ("VR") device and technologies research and development (b) environmental protection, energy saving technologies, equipment development and applications (c) money lending business in Hong Kong providing mortgage loans to high quality target borrowers with low credit risk who are able to provide mortgage collateral and/or third-party guarantee and (d) property investment to generate additional rental income to further boost the group's cashflow over the long term. SGOCO's vision is to operate as a conglomerate to build synergy within its own sustainable ecosystem thereby create value to shareholders.
Boca designs, develops, and manufactures Phase Change Material (PCM-TES) storage system and applies them on cooling and heating system. Boca's PCM-TES storage system (the "System") applies real-time electricity demand peak management which shifts on-peak chiller plant load to off-peak and increases chiller efficiency by optimization controls at any time. The System could reduce electricity consumption by approximately 50% during all running time and decrease 2/3 of central air conditioning running cost due to lower tariff rate during off-peak and higher efficiency at all time. The System can be used in all existing and new buildings and is environmentally friendly with a life of more than ten years. The System fully supports energy saving to help control the greenhouse effect and achieve maximum economic benefit for the customers.
Century Skyway is principally engaged in Virtual Reality ("VR") device and technologies research and development. Its development center and main researchers are in Shenzhen, China. Century Skyway's R&D team has extensive experience and expertise in the VR industry. The R&D team cooperated with Razer to develop an Open-Source Virtual Reality ("OSVR") product aimed on VR-Gaming. The OSVR product attended the 2017 US CES exhibition in Las Vegas in January 2017.
Giant Credit Limited is a Hong Kong incorporated company which has the Money Lenders License for carrying on money lending business in Hong Kong. Giant Credit Limited has been providing high-quality mortgage loans to its customers since 2016. Since the commencement of business, Giant Credit Limited has continued to record a growth in its mortgage loans receivable along with satisfactory interest income. Management believes that the recent rising trend in the economy and local property market provides the Company great opportunity to expand its mortgage loan business and portfolio. In addition, The Hong Kong Monetary Authority continues to impose stringent policies and prudential measures on property mortgage loans provided by authorized financial institutions in Hong Kong, which creates additional hurdles for the public who are looking for mortgages to satisfy their financial needs. This further enhances the competitive edge of money lenders in Hong Kong.
SGOCO has investments in two real estate properties in Hong Kong (held under 11 Hau Fook Street Limited) and an entire 21 story building in Hong Kong (held under Paris Sky Limited). These investments generate additional rental income to further boost the group's cashflow over the long term. The properties are managed by the group's team with experience in property management and rental management which operates in a cost-effective manner.
Importantly, SGOCO believes that owning its very own building in Hong Kong is a status symbol that is significant to its corporate image and reputation as well as for instilling public confidence in SGOCO. It also marks SGOCO's commitment to long term sustainable growth and creating value to shareholders.