Mega Fortune MGRT

Mega Fortune Co Ltd is an Internet of Things solution provider operating in Hong Kong through its subsidiary QBS System Limited which was founded in 2011. The company delivers comprehensive IoT solutions and services to help enterprises undergo digital transformation, launch IoT initiatives, upscale existing applications, or integrate IoT with legacy systems across various industries in the Asia-Pacific region.

The company generates revenue through four primary service lines: IoT Integration Solution Services, Business Process Outsourcing Services, IoT Support and Maintenance Services, and trading of IoT-related products. Revenue from integration solutions is recognized over time based on effort and input methods, while BPO and support services are also recognized over time using input methods tied to labor costs or incurred costs. Product sales revenue is recognized at a point in time upon delivery when control transfers to the customer.

The company operates through the following segments:

• IoT Integration Solution Services includes consulting, development and implementation, analytics, support and evolution for building applications using IoT devices and sensors, focusing on industries such as low carbon property management, energy management, stock management, GreenTech management, and hospitality industry management.

• Business Process Outsourcing Services provides IT-related manpower support for fixed periods to assist enterprises in launching IoT projects, creating new technology solutions, upscaling existing applications, or integrating IoT with legacy systems, including support for new product launches, product transitions, roadmap reviews, business planning, target operational models, and forecast management.

• IoT Support and Maintenance Services offers ongoing maintenance and support for existing IoT solutions, including maintenance of different components, repair and replacement of hardware, ad-hoc technical services, system administration, secondment, and corrective services, along with license renewal subscriptions for IoT systems, hardware, and software from vendors.

• Trading of IoT-Related products involves selling hardware and IoT-related products under distinct contracts with fixed prices, no rebates or discounts, no right of return, and no credit terms, requiring settlement upon delivery with revenue recognized when control transfers to the customer.

The company positions itself as a preferred choice for IoT solutions in the Asia-Pacific region, competing with other IoT providers by offering end-to-end services that combine hardware, software, and system integration capabilities, supported by its long-standing client relationships and technical expertise developed over 13 years of operations.

The company serves government departments, large retail brands, chain restaurant brands, theme parks, and recognized international brands, primarily in industries such as construction, retail, electronics, food and beverage, telecommuting, robotics, and logistics businesses.