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Public company info - CIL Holdings Ltd. , 00479.HK
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CIL Holdings Ltd., 00479.HK - Company Profile
Chairman Ke Jun Xiang
Share Issued (share) 5,202,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry IT Hardware
Corporate Profile Business Summary: The group is engaged into (i) distribution of server storage, multi-media and communication products in Hong Kong; (ii) distribution of rice cookers and household electrical appliances in the People’s Republic of China (the “PRC”); (iii) distribution of other products in Hong Kong; and (iv) investments in securities. Performance for the year: Comparing to last financial year, the Group’s total consolidated revenue from continuing operations decreased by 62.8% to approximately HK$49,236,000 during year ended 30 June 2020 (2019 (restated): HK$132,406,000). The loss for the year attributable to owners of the Company from both continuing and discontinued operations was approximately HK$47,237,000 (2019: HK$56,005,000) and loss per share (basic and diluted) for the year was 0.98 HK cents (2019: 1.30 HK cents). Business review Distribution of server storage, multi-media and communication products During the year ended 30 June 2020, competition in the market was intensive and product demand from customers continued to be weak. The tough market condition has posed hard impact on our business. A segment loss of approximately HK$1,620,000 (2019: HK$3,129,000) was recorded for the year as a result of sustained thin profit margin. Despite of the challenges facing us, we strive to reshape our business strategy to overcome the adverse situation and to provide our customers with the best quality of products and services. Distribution of rick cooker and household electrical appliances The Company continued to distribute rick cooker and household electrical appliances products in the PRC during the year ended 30 June 2020 and incurred a loss of approximately HK$194,000 (2019: profit of HK$12,000) in segment results. We are still in the course of identifying a suitable business partner for the distribution business in other regions. The management will monitor the project closely and revise our business strategy to meet the latest market condition when required. Distribution of other products The Company continued to distribute other products during the year ended 30 June 2020 and incurred a loss of approximately HK$166,000 (2019: HK$27,000) in segment results. Currently, our tradable product is confined to building materials, industrial metals and may expand to other categories when more experience is obtained from the operation. Investment in securities Due to the relatively volatile market condition, the Group suffered a segment loss of approximately HK$10,421,000 (2019: HK$22,781,000) in investment of local listed securities during the year ended 30 June 2020. As the source of finance for this segment is from the idle funds available from time to time, the Group has reduced the portfolio size in the reporting period gradually so as to redeploy financial resources for meeting other operational requirements. Entertainment The Group had not organised any musical live show during the year ended 30 June 2020 and recorded no profit or loss (2019: profit of HK$250,000) for the segment. Nevertheless, we are still active in soliciting with various artists and business partners in media production to secure production opportunities. Money lending (now discontinued) The Group recorded a loss of approximately HK$7,227,000 (2019: profit of HK$5,575,000) from money lending business during the year ended 30 June 2020. The Group has not renewed the money lender license during the year ended 30 June 2020 and ceased to be a licensed money lender in Hong Kong. The Group believes the level of resources allocated to this business segment does not bring a better performance for the Group and ceased the business in the current year. It is regarded as discontinued operation for the year ended 30 June 2020. Prospects: It is the Group’s strategy to actively securing fresh financial resources and at the same time looking for new investment and growth opportunities through a strategy of business diversification. Despite the uncertainties on the global economic prospect as a result of the outbreak of COVID-19, as there is growing importance to the development of the Guangdong-Hong Kong-Macau Greater Bay Area, we expect a lot of business opportunities in the region, in particular the growing demand in building materials for construction of infrastructure projects, will be opened up and feel confident of our growth and development in the near future. The Group will continue to seek opportunities for strategic investment with a view to develop, expand and diversify of the Group’s businesses to maximise the interest of the Company and its shareholders. Subsequent to the end of the reporting period, the Company has enforced the securities in relation to a loan receivable and Turbo Billion Group has become subsidiary of the Company. However, subsequent valuation of Turbo Billion Group was less than the agreed outstanding balance (the “Outstanding Balance”). Accordingly, the Company claimed that Chargor is now liable to pay the difference to the Company. Therefore, the Group has executed its right to charge over a property owned by Turbo Billion Group and planned to execute its right to charge over another property owned by Turbo Billion Group. In the opinion of the directors of the Company, these properties have value of not less than the Outstanding Balance and is beneficial to the Group.

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