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Public company info - China Haisheng Juice Holdings Co. Ltd. , 00359.HK

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China Haisheng Juice Holdings Co. Ltd., 00359.HK - Company Profile
Chairman Gao Liang
Share Issued (share) 1,290,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Soft Drinks
Corporate Profile Business Summary: The principal activities of the Group are (i) manufacture and sales of fruit juice concentrate and related products; and (ii) plantation and sales of apple saplings, apples and other fruits. Performance for the year: For the year ended 31 December 2020, the Group’s audited revenue decreased from approximately RMB1,231.6 million to approximately RMB1,195.1 million, representing a decrease of approximately 3.0% over the previous financial year. For the year ended 31 December 2020, the Group’s audited loss attributable to owners of the Company increased from approximately RMB64.6 million to approximately RMB156.8 million, representing an increase of approximately 142.7% over the previous financial year. For the year ended 31 December 2020, basic and diluted loss per share amounted to approximately RMB12.16 cents and RMB12.16 cents, respectively, as compared with the basic and diluted loss per share of approximately RMB5.01 cents and RMB5.01 cents, respectively, for the year ended 31 December 2019. Business Review Juice concentrate and by-product processing In 2020, the Group continued to strive to develop its business by leveraging its advanced production technology and its own service advantages, communicating with domestic and overseas customers in an all-round and in-depth manner, and exploring all possible opportunities on the basis of stabilising existing sales channels. After years of efforts, the Group has formed a stable sales presence in a number of domestical and overseas regions, including the United States, Canada, Japan, Korea, Thailand, Russia, the Middle East and the domestic market. It is a fact that the COVID-19 pandemic started at the beginning of 2020 had a major impact on domestic and international juice sales. The seriousness of the domestic epidemic at the beginning of the year led to different degrees of delay in resuming work across the country, and normal production and operation activities could not be resumed in a short term. Due to the lockdown of cities and closure of roads all over the country, there was a shortage of transportation capacity nationwide, and it was difficult to fill and send the juice concentrate products from the factories to the ports, which in turn made it difficult to ship and fulfill the orders from customers. The COVID-19 pandemic spread globally during the latter part of the year, which had a significant impact on global shipping, with many countries closing air and sea freight, resulting in a decline in demand for fruit juice in overseas markets. However, under such severe circumstances, the Group still actively developed the domestic market and explored new domestic customers, resulting in an increase of 31.5% in sales of clear pear juice concentrate products compared with the previous year, and an increase of 31.5% in sales of small varieties of juice concentrate products such as white peach concentrate cloudy juice and an increase of 200% in sales of apple semi-cloudy juice. At the same time, the Group expanded its product range by increasing the research and development of mainstream products, and simultaneously expanded multiple channels and increased the strategic layout of chain restaurants and hotel chains. As for end-user products, the Group increased its investment in research and development. While iterating and upgrading the original “Eden View” high-end bottled fruit drink series by newly developing strawberry, grapefruit and green apple flavors, the Group also launched the “Pure Twig” series of 100% fruit juice bottled beverages by sorting out the “Language of Fruit” drink series. Based on the above, the Group provides high-quality services to customers with high-quality products, rich product categories and diversified sales channels to meet the consumption needs of different groups and increase the stickiness of high-quality customers. Modernised agriculture In 2020, sales of the Group’s modern agriculture segment increased by 37% over last year. Although the overall price performance of the domestic fresh fruit and vegetable market was relatively sluggish due to the impact of the COVID-19 pandemic in spring, and natural disasters such as persistent rains and frosts in some regions led to a reduction in production in some of the Group’s production areas, the Group’s sales of fresh fruit products still increased significantly over the previous year as the age of fruit trees increased and the Group’s planting management level and operational efficiency improved. During the reporting period, the construction and development of high-end facility agriculture was the top priority of the Group’s modern agriculture business. Following the first phase of glass greenhouses in Tongchuan, Pingliang and Zhangye, the second phase of greenhouse projects in Baiyin and Zhangye were gradually put into operation in 2020. By the end of 2020, the Group had built and under-construction greenhouses covering an area of over 900,000 square metres. During the reporting period, the Group strengthened production efficiency management through technological improvement and variety optimization, resulting in breakthroughs in the quality and yield of apples, citrus and candy tomatoes, and the products were highly praised by customers. In 2020, the Group further achieved scientific and digital management in pesticide residue control and virus disease detection of seedlings. The Group has built high-standard non-toxic citrus seedling breeding bases in Jingxi, Guangxi, Yilong and Gulin, Sichuan. The Group newly registered more than ten apple seedling trademarks such as Knip and Red Schniga Gala and successfully obtained approval for the introduction of European sweet cherry seedlings from the Netherlands, which enriched the domestic seedling planting varieties and enhanced the introduction and breeding of new varieties. The construction project of the baby carrots processing line of the Vegetable Division in Wuwei is under continuous construction and is expected to be put into operation in August 2021. The carrot yield of Pingyin Base broke through a record high, reaching nearly 5 tons per mu. In 2020, the Berry Division added a new blueberry base with a planting area of 1,000 mu, and completed the construction of a sorting line and processing workshop occupying an area of 15 mu, and successfully introduced professional sorting equipments and a professional cold storage facility in Spain. In 2020, in terms of fresh produce marketing channel construction, the Group continued to implement its sales strategy of joint development of online and offline sales. While actively developing traditional national customers, distributors, wholesalers and retail customers, the Group also actively docked with major e-commerce brands and various community group buying platforms to try out various new sales models. In terms of brand building, the Group will continue to focus on the two brands of “Pure Twig” and “Eden View”, and the fresh produce business and juice business will go hand in hand to continuously enrich the product categories in the brand, so that more consumers will be fully aware of the quality, professionalism and assurance of Haisheng Group’s products. Prospects: In the coming year, the Group will strengthen the management and integration of the planting bases, further improve the production efficiency of the bases, strengthen the management of the transportation and sales process, reduce losses and sales costs thereby improving the quality of end products. Meanwhile, the Company will continue to expand its market resources and form a nationwide sales network of Haisheng covering the entire system, so as to continue to provide consumers with safe, healthy and delicious good products and make substantial contributions to the modernization of Chinese agriculture.

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