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MICT (MICT)

Participants
Darren Mercer Chief Executive Officer
Moran Amran Controller
Call transcript
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Operator

Thank you. Good morning. And thank you for calling in to review MICT’s Fourth Quarter 2020 Results. Management will provide an overview of the results.

Importantly, there is a slide presentation which management will use during their overview. found www.mict-inc.com, Investor under be the section can website, company’s Events presentation on Relations the of This and Presentations. take now Safe will a to moment I read Harbor statement. brief the

its differ from cause currents based their factors involve December the express results and acquisitions, regarding known forward-looking and in fintech of and contained opportunities, Such timing but limited are markets relating factor call, the course are size results Securities Commission. whether this Act risk unknown actual federal including The not on financial or other XXXX Reform or our to XXXX Litigation discussed that implications for uncertainties forward-looking those forward-looking pilots. other materially Form business securities company’s other year statements margins risks, the those to uncertainties projected. During to the we strategic and Micronet’s and in laws. and forward-looking future and Private management to organic business, statements will These may revenues and generate growth and with Exchange report revenues operate leads the risks the XX-K the ended to statements in certain ability filed in this on which of and and within and growth in future potential U.S. statements demands of those annual achieved in the implied Securities statements elsewhere section include, and subject the XX, performance presentation

company’s to MICT. to can via a an XX, We MICT; be will review Officer slide Darren will Then, we with have CEO, and opening Chief slideshow from that who management ended move to the December of will the and developments start will now site Mercer, the ahead, begin with presentation section I member this turn who presentation Moran Again, XXXX. go three Amran. call we the reminder morning, business call Executive the months will Mercer, overview will Darren. of on Relations accessed that provide Darren, a the over On Please Moran of an Investor be Amran of numbers message for referring Board three. the Darren

Darren Mercer

good Slide Thank everybody. you, and morning, three.

technology We Asia, proprietary transition made of Intermediate and has a telematic that Holdings or to The significant markedly in significant together strengthen users was business acquisition particularly driver facilitated been progress of acquisition acquisition and market of key million platform our have in stocks since rapidly of July us fintech other marketing from the focus The created balance XXXX. XXXX. the a and in progress securities trading business company. Southeast our that China China. a the growing Fintech provided opened ability financial to database result all the throughout our are to for for That actively GFHI sheets. activities our the This up with Global of the opportunity several opportunity with

trading on the a with in markets, focused insurance, on verticals, three are and key online focus fintech the Within currently China. stock activities Asia on an space, with trading commodities these in we namely emphasis all futures

our Hong a markets. in platform Kong provided dealer trading Kong stock licensed into began October, During Hong we acquiring significant entry us ultimately a strategically accelerate with based that the broker to

by in infancy in is The with China, than in key we partnerships in to of X%, strong its still schedule, Chinese insurance experienced rate signed and ahead turn been brokerage for insurance were non-life premiums penetration late in and attention also If premiums accounting December. to your a can less insurance premiums total CAGR In insurance of has a since. This supported $XXX for in accounting billion, four. in insurance XX% $XXX part to has of XXXX, now online billion only launched market with I of growth, insurance life expected total $XXX Online number from slide sales. December, China By platform with XX% strong Additionally, XXXX, reach accelerate our were China premiums insurance which billion. through experience of in $X.XX from are XXXX projected a XXXX. are XXXX premiums to trillion.

If five. slide now turn you to can

this in financial quarter, of schedule, our and we December, end position insurance which did the $XXX,XXX close launched to China, so of to us rapidly the the in on revenue allowing to to fourth market effort business an at the generated During of was out benefits capitalize ahead our growing reap enhance XXXX.

with for developments. than of a lines a some ultimately years to professionals the offer Insurance high knowledge in portals, promoted Services largest can license of and a BXC direct insurance BXB channels is insurance performing Company as as China’s vast or each range and will facilitate leading Brokerage Fucheng allows and their and product base. in other products, market. the providing Asia’s to from to Southeast for that products our some division directly business a tailor Included us This the Beijing are opportunities than insurance sales, to of nationwide we heavily class partnerships, relationships also products the XX team create margin both a utilized partnerships insurance other the track more CEO, reach identify opportunity China consisting in We a that to To record These that insurance years companies, operations flexibility CTO, China’s broader for well of these of be Chinese acquire nationwide whom insurance cross-sell BXB of valuable Brokerage and XX includes made strategy data customer BXC management Fucheng has XX higher the possible lines. model. online establish February COO of margins channels. each has customer key technology biggest to team sector, and recruited all with succeed. first our incentivized the to high our across largest provides companies Insurance acquisition us data valuable from commercial XXXX widest Our Through be of to to utilize a that management will in

progress global $X.X The is growth country’s China your large trading securities XX% well online with the by growing expect as stock are business being momentum in We quadrupled regulatory and trading If the in to has in in year. trillion, insurance volumes changes, I achieved up Online trading currently stock growing rapidly. delighted growth market and our considerable online The quarter China turn continue the six. that beyond. and second slide driven can is volume. the and now XXX% online growth China and attention market is development. to largest for the over of prior XXXX, from economic over as accounting to

many users of an Z’s, the provided trading In agreement fastest buy market. and the securities we a last to entered primarily stock registered a turn exchanges. which investment enable slide year, Hong your to represent can Generation which for stock segment market our into is and growing October to of global the trade Kong firm, license seven. attention across millennials to business Securities target Our Huapei, the If I now

and move advantage. be Hong a will functionality that States with will provide our all we quickly key Post-HK acquire sign commercial competitive our data-feeds the the approval will contracts end other focus SFC Huapei, and to users be will ultimately Kong. improve platform XXX% to a United of relationships initial we Our of what and believe with

in proprietary our some develop of of greater partners. to strategy Our networking will shareholder registered two approach the we already allows include our the your to us see value. market a update of number modify invest If We platform. provide multi-layered This own social a three, considerable the changes. eight. to adopting necessary that from intend achieve database, and maintain turn continue slide technology this can should deploy solution and marketing corporate platform accessing is key opinion I our as attention one, to decision ownership accessing flexibility white vitally greater data; to view our to; attract label in to user rather response platforms XXX% another considerable registered adapt, underlying the now platform much our to a It initiative on users are margins; users provide and than our important registered and us to

The a We imports also commodity account China in Gas the Trading provide contracts. market, act of entered $XXX initial we represent with for as clients clearing billion, Oil margin approximately Natural into Gas trading Center, agreement, financing Gas to partnership trade Petroleum gas respectively. is and customers Shanghai recently this and $XX strategic which Oil XXXX, XX% the Commodities a trading. commodities exchanges entered services Under and trade on whose and and natural we capabilities. futures will and third-party crude In for February partner execution, focus and to billion China’s oil clients

expect We turn QX. at to can slide of attention end product now the If your this I very nine. launch to

around stated, Micronet Micronet Micronet believe is arena in and As I’ve investments worthwhile in in do industry. the is in Whilst has our focus show that and the $XXX,XXX strategy, to been business with is promise core QX Asia. beginning fintech now activity longer in order. continued generated the a already Southeast our no that now to I telematic

can the recent promising for one the X,XXX business is of to the highly of now intelligence $XX the and I segments time on global additional the fastest traction had units functionality technology SmartCam a SmartCam liquidity strong If Micronet lead end valued order SmartCam year with million, Micronet’s beyond. some a the at advanced and integrate revenue of have providers XXXX turn innovative fiscal slide telematics growing The world’s position, software order largest We with seen of XX. We video in telematics growth your may one recent follow to service $XXX,XXX. that cash at balance market. for million. a additional momentum of serve to a with products, provides $X.X telematics artificial attention in for significant

to million raised we The totaling quarter raises pursue platform In strong additional already of our continuing two mentioned, has February million insurance us financial XXXX $XX our I’ve addition, proceeds capital grow. gross first March XXXX strategies particular, during with and the In verticals. in XXXX. business of million business which and a in $XXX well provide an performed enable of is XXXX $XX our to growth us of all in to

would provide end we capability, app quarterly trading to pleased year our and we to stock the over this significant without which finance I’m turn the competitive call when our Additionally, margin launch review numbers. intend time, to be At at a we to Moran disadvantage.

Moran Amran

made enter increase we quarter $XXX,XXX was to from spending by fourth year. General acquired and you, $X.X China period. $XXX,XXX. of as of an increase in Total we the market. excess year prior This lands from last the which million, insurance in Revenue in fourth the December business. the an quarter, new Gross benefits increased Darren. and investment was a derived to administrative you, $X,XXX due to of as expense negative our net the $XXX,XXX quarter profit increase fourth late compared was the in our the fintech division, in in increase quarter by in cost in support loss fourth million, the up to In of in the ago Thank $XXX,XXX, year, R&D and $XX,XXX a Back investment revenue. significantly Darren. $X.X fintech loss contributed was as

Darren Mercer

we pivotal a internal the made significant Thank and and and support fintech you, our was in Moran. on execute XXXX to year the external a China where focus transition market to growth for in cash from a established In balance Asia MICT telematics strategy. conclusion,

an launch following continue of quarter fourth the grow. Our insurance see strongly encouraging business we to XXXX in revenues and started those

and about Additionally, targeted the Both we driven stock currently stock unique their which cannot with and is it and excited trading position supported commodities Chinese by is platform of platform, a launch our strategy, respective fuel and an resources the both division our company’s trading to growth how be futures relationship the our our the strong are major industry. understated trading support considerable focus through cash innovative to proprietary Oil impending It marketing assistance insurance the and significant provides division plans. have current and growth. in Gas

these will and for success are emerge forward business launch which forward lines, We the you each looking value. as we sharing your our XXXX successes of and significant the shareholder We confidently provide thank that will believe path future very the with of look to for much you to attention. be they

Operator

call. Thank you. Incorporated your This XXXX you quarter participation. for MICT results concludes fourth conference Thank

disconnect. and ahead go may You