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Public company info - Good Resources Holdings Ltd. , 00109.HK
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Good Resources Holdings Ltd., 00109.HK - Company Profile
Chairman Chen Chuanjin
Share Issued (share) 7,088,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Other Financials
Corporate Profile Business Summary: The principal businesses of the Group include (i) the provision of financial services; (ii) the provision of optical fibre leasing services; and (iii) investment holding. Performance for the year: For the year ended 30 June 2019, the turnover of the Group decreased by approximately HK$25,858,000 to approximately HK$84,665,000 (2018: approximately HK$110,523,000). For the Year, the Group has recorded a profit before taxation of approximately HK$79,709,000 (2018: approximately HK$91,236,000) and a net profit of approximately HK$52,531,000 (2018: approximately HK$63,885,000). Business Review: The principal businesses of the Group include (i) the provision of financial services; (ii) the provision of optical fibre leasing services; and (iii) investment holding. Provision of financial services In Hong Kong, the Group is conducting its money lending business through Golden Wayford Limited, a wholly-owned subsidiary of the Company, which was granted a money lenders licence by the licensing court in Hong Kong pursuant to the Money Lenders Ordinance (Chapter 163 of the Laws of Hong Kong). The Group is also carrying on the financial leasing business, commercial factoring business and general loan financing activities in the PRC through an indirect wholly-owned PRC subsidiary located at the Shanghai Pilot Free Trade Zone. The financial services segment has continued to generate interest incomes from loan financing during the year and has accounted for majority of the Group’s turnover for the year ended 30 June 2019 (the “Year”). The segment is the core income sources of the Group’s profit and also one of the main business of the Group in the long run. Provision of optical fibre leasing services The Group’s segment of provision of optical fibre leasing services inclusive of ancillary rental services of telecommunication facilities is represented by its sub-group of Golden 11 Investment International PTE Ltd. (“Golden 11”), which holds a license granted by the Posts and Telecommunications Department of Myanmar which allows the construction of business infrastructure for optical fibre network, base stations, towers and telecom network at Myanmar along the railway line in Yangon. Leasing income will be generated from the infrastructure projects with major target customers being the mobile network operators in Myanmar. This segment is a strategic asset of the Group which can help to diversify the Group’s revenue sources and capture the growth of the telecom market in Myanmar. The Group has been continuing to recruit more staff to enlarge the Group’s sales team, operations as well as outsourcing contractors to support the growth of this segment. This segment has generated revenue of approximately HK$51,000 during the Year. With the Group’s construction of optical fibre circuit along the Yangon rail line and roll out of more sites for base stations, towers and augmented backhaul optical fibre leasing income, these facilities are expected to be substantially completed in the year of 2020 and the Group expects, it will contribute more revenue to the Group in the future. Investment holding The Group’s investment portfolio segment comprised of the following financial instrument investments: (i)The Group held investment in convertible note issued by Airspan Network Inc. (“Airspan”) with fair value of approximately HK$66,560,000, representing approximately 2.2% of the Group total assets as at 30 June 2019. (ii)The Group also held investment in 11% Senior Notes of Redco Properties Group Limited with fair value of approximately HK$160,886,000, representing approximately 5.5% of the Group’s total assets as at 30 June 2019. The Group intends to continue deploying its strategy to maintain its investment portfolios and seek other potential investments to diversify its investment portfolios in order to broaden the income source of the Group. Prospects: Loan financing remains as the Group’s core operations. Trade war continued escalation, growing debt bubble and possible forthcoming quantitative easing in Europe and United States, etc., all these market factors increase the demand from corporates for long term money lending. The Group has implemented a strict and cautious approach for selection of loan financing customers to minimize the potential default risk. It is expected that there still has a stable revenue generated from loan financing services in the coming year. As a protective measure for the Group’s loans receivable, the Group’s strategy is to weather the Group’s assets from the possible financial storm stemming from trade war, micro and macro economic factors through diversification. The Group is actively seeking to broaden and diversify the Group’s loan financing portfolio and customer base with smaller size lending contracts and/or industry focus lending, which the Group believes that it will help to mitigate the risk of over reliance on any customer, as well as increasing the income sources of the Group. Besides, along with the Mainland China’s “One Belt, One Road” economic development strategy, the Group has increased the Group’s Golden 11 investment in Myanmar from 51% to 91% during the Year. Given the anticipation to generate turnover from the continuing construction of optical fibre in the Yangon city area of Myanmar in the coming fiscal year, a separate segment is shown for the Group’s Myanmar operations to reflect the Group’s revenue strategy. The Group believes that this segment will create further positive value to the shareholders and the stakeholders of the Company in near future. The Group is proactively exploring further potential investment opportunities in other industries that have long term revenue flow in order to broaden the source of revenue and diversify business risk of the Group, which are in the best interest of shareholders of the Company.

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