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Public company info - Arts Optical International Holdings Ltd. , 01120.HK
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Arts Optical International Holdings Ltd., 01120.HK - Company Profile
Chairman Ng Hoi Ying, Michael
Share Issued (share) 386,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Accessories & Leather Goods
Corporate Profile Business Summary: The Group is principally engaged in the design, manufacture and sale of optical products, business and assets located in the People's Republic of China in Hong Kong and other regions. Performance for the year: The Group’s consolidated revenue decreased by 13% to HK$1,041.0 million in the financial year ended 31st December, 2019 (2018: HK$1,196.0 million). For the financial year ended 31st December, 2019, the Group recorded a loss attributable to owners of the Company and loss per share of HK$136.3 million and 35.28 HK cents respectively (2018: HK$38.3 million and 9.97 HK cents respectively). Business Review: ODM division The Group’s ODM division continued to be the key revenue contributor and revenue generated by this division contributed to 74% of the consolidated revenue of the Group in 2019 (2018: 78%). Sales to ODM customers decreased significantly by 17% from HK$931.9 million in 2018 to HK$775.3 million in 2019. Geographically, sales to customers in Europe, the US, Asia and other regions accounted for 62%, 26%, 10% and 2% respectively of the revenue of the ODM division in 2019 (2018: 53%, 36%, 10% and 1% respectively). Sales to Europe, the US and Asia reduced by 3%, 39% and 19% respectively whereas sales to other regions was up by 42% in 2019. On the product side, the Group continued to maintain a fairly balanced sales mix between prescription frames and sunglasses in 2019. Sales of prescription frames, sunglasses and spare parts accounted for 54%, 43% and 3% respectively of revenue of the ODM division in 2019 (2018: 51%, 46% and 3% respectively). Distribution division Revenue generated by the distribution division increased slightly by 1% from HK$264.1 million in 2018 to HK$265.6 million in 2019 and accounted for 26% of the consolidated revenue of the Group in 2019 (2018: 22%). The Group’s house brand and licensed brand products were sold to retailers through the Group’s wholesale arms in the United Kingdom, France, China and South Africa, and independent distributors in other countries. Sales to Europe, Asia, the US and other regions accounted for 57%, 19%, 9% and 15% respectively of the revenue of the distribution division in 2019 (2018: 55%, 20%, 9% and 16% respectively). Europe was still the biggest market for the distribution division and sales to Europe were up by 4% compared to the year of 2018. On the other hand, sales to Asia, the US and other regions were decreased by 4%, 2% and 5% respectively. STEPPER, the German brand owned by the Group, continued to be the most popular brand in the Group’s distribution division. Prospects: While there is a sign of receding of the trade tensions between the US and China, the coronavirus adds a new layer of uncertainty as it has quickly spread around the world after it was first reported in Wuhan late last year. The Group considers the global business environment will be extremely challenging in the coming future. To reduce the risk from the continual trade tensions between the US and China, the Group had launched a plan to set up a manufacturing facility in Vietnam in the late 2019 with an aim to reduce reliance solely on China based manufacturing. On the cost side, the Group remains vigilant in improving cost efficiency and productivity. Going forward, the management will continue to build on the Group’s strong financial position and invest in the Group’s core businesses, with particular emphasis on production automation, expansion of brand portfolio and the Group’s sales network. Notwithstanding the current challenging environment, the Group see ample opportunities for continuous growth and will capture such opportunities while adhering to the Group’s prudent financial discipline.

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