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Public company info - Guoan International Limited , 00143.HK

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Guoan International Limited, 00143.HK - Company Profile
Chairman DU Jun
Share Issued (share) 7,749,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry IT Hardware
Corporate Profile Business Summary: The Group was principally engaged in the trading of telecommunications and other products, provision of repair services for telecommunications products, investments in financial assets and money leading business. Performance for the year: During the Year, the Group recorded a 89.4% year-onyear increase in revenue to approximately HK$207.8 million (2018: approximately HK$109.7 million). A gross profit of approximately HK$46.8 million (2018: approximately HK$23.1 million) was delivered. Business Review: Financial Services Business The Group, through the indirect wholly owned subsidiary Yicko, was engaged in the securities brokerage business. The segment’s results were incorporated into the Group’s financial statements for the Year subsequent to the completion of the acquisition on 28 February 2019. According to the participants’ records of The Stock Exchange of Hong Kong Limited (the “Stock Exchange”), the total turnover for Yicko amounted to approximately HK$9 billion in 2019. Yicko is a well-established brokerage company, licensed to carry out Type 1 (dealing in securities), Type 4 (advising on securities) and Type 9 (asset management) activities regulated under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). Its business consists of investment advising, stock trading, margin financing, corporate placements and underwriting. The management remains optimistic about the future prospect of the financial services business. As Hong Kong benefits further from the Mainland’s drive to develop the Greater Bay Area and the Belt and Road initiative, its financial sector will be able to strengthen its status as an international financial centre. Trading Business The trading business segment covered a range of merchandise including electronic products and parts. Beyond their direct effects, the trade conflicts have heightened general uncertainty and contributed to the slowdown in the global economy. China’s economic engine has been cooling down with GDP growth slowing to 6% in 2019. World merchandise export and import growth has also slowed across most regions. As the operating environment has become less predictable, the Group has adopted a more prudent business strategy for the trading segment. The strength of the US dollar throughout 2019 also had a negative impact on this business stream. Trading of certain products slowed in accordance with market changes, and consequently the Group is considering its options as regards these product lines. In light of the ongoing operating difficulties and the new challenges associated with the spread of the novel coronavirus epidemic, the management envisages that the profit margins for the trading segment will stay under pressure. The Group will continue to review the product portfolio and make necessary adjustments in line with market developments. Maintenance Services The maintenance services segment continued to face challenges as the economy showed signs of slowing. During the second half of the Year, the maintenance services segment recorded a decline in revenue as local social incidents caused serious disruptions to its operations. The Group will continue to monitor the operating conditions of the segment and will formulate measures to cope with the associated challenges. Prospects: Hong Kong recorded negative GDP growth in 2019, representing the first annual decline in a decade. Retail sales contracted at a sharper pace as the local social unrest took a toll on consumption-and tourism-related sectors, dealing a severe blow to a city already weakened by synchronised global economic slowdown and ongoing trade tensions. The latest economic report issued by the Hong Kong SAR Government pointed to a 2.9% year-on-year contraction in the third quarter of 2019, indicating that the economy had entered a technical recession during the quarter. Heading into 2020, the global economic outlook remains bleak. After recording the largest decline in export in a decade in 2019, Hong Kong’s shipment volumes are expected to continue to be weak this year. The local outlook will be affected by softening global demand and lingering trade frictions, with the effects of the epidemic likely to see the economy slow further. It is also likely that the external environment will become more austere, with mounting downside risks facing the economic outlook. Amid weakening trade and investment, global growth is projected by the World Bank to be 2.5% in 2020, up just slightly from the post-crisis low registered last year. While some recent alleviation in trade tensions may mitigate uncertainty, risks continue to be tilted to the downside. The Group will stay alert to the economic impact of the spread of the novel coronavirus. While the epidemic may only bring temporary disruption to business activity, the scale of China’s slowdown and the pace of recovery will, in part, be determined by the effectiveness of infection control in the country. As regards the financial services segment, local markets will likely be exposed to greater uncertainty stemming from global economic turbulence and the new epidemic. The performance of the segment will also be affected by potentially weaker investment sentiment. However, the Group remains confident in the long-term prospects for the financial services segment, and will continue to deploy management resources and attention to the development of this new business stream. On the other hand, the trading and servicing business lines will continue to be subject to operating challenges and eroding margins. The Group will closely monitor the ongoing conditions of these businesses in order to weigh and formulate responsive measures. The Group will cautiously navigate the currently highly uncertain environment, applying stringent risk management principles in its business operations and development. At the same time, the Board will stay alert to signs of turning points in the current economic cycle, in order to identify and capture new growth opportunities that may emerge. The Group’s longterm goal remains to create value for its shareholders.

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