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Public company info - Rosan Resources Holdings Ltd. , 00578.HK
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Rosan Resources Holdings Ltd., 00578.HK - Company Profile
Chairman Bao Hongkai
Share Issued (share) 1,040,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Coal
Corporate Profile Business Summary: The principal activities of the Group are (i) the production and sale of coal and trading of purchased coal; (ii) production and sale of building materials and (iii) leasing of aluminum boundary wall moulds in the PRC. Performance for the year: The Group’s total revenue for the Year amounted to approximately HK$504.5 million, representing a decrease of approximately 47.5% from approximately HK$961.4 million of the Last Year. The net loss attributable to the owners of the Company for the Year was approximately HK$99.9 million, representing a decrease of approximately 30.0% as compared with the Last Year of approximately HK$142.7 million. Business Review Completion of the Disposal of CIL Group During the year 2019, the Group has undergone the disposal of CIL Group which enhanced the Group to reduce the reliance on coal business and to achieve a balanced result between Coal Business and Building Materials Business. In the past few years, the major proportion of the income and result was contributed by the Coal Business. However, the coal market was not favorable to most of the small to medium size coal enterprises, including the Group. The Group has incurred significant loss and liabilities resulting from the operation of the coal mines in the past few years. Upon completion of the disposal of CIL Group in December 2019, two out of the three operating coal mines were disposed of to a company wholly-owned by a connected person. The one coal mine (namely Xiangyang Coal Mine) now remaining in the Group possesses the largest coal reserve with quality coal amongst the three coal mines previously owned by the Group. The Board believes that Xiangyang Coal Mine would be able to bring favorable result to the Group in the foreseeable future. The above disposal has facilitated the Group to reduce its liabilities significantly that would help the Group to reduce its finance cost and to improve the liquidity, hence, to increase the Group’s ability to achieve favorable result in the future. Impact of Slow Economic Growth on Coal Business In year 2019, the trade tension between China and US has apparently caused the slowdown of mainland economic growth. In such situation, general market demand and expenditures have also been affected. Therefore, the demand for coal has been slowed down, which has caused the price of coal to drop in comparing with the beginning of the Year. In addition to the reduction in sales volume during the weak market condition, the total revenue generated from the Coal Business of the Group for the Year has been dropped in comparing with the year 2018 (“Last Year”). Achievement of Building Materials Business In respect of the building materials industry, the government has imposed different environment protection measurements which have caused many local enterprises and competitors suspended for rectification or further improvement. As the production plant of the Building Materials Business of the Group has been certified by the government as an environmentally-qualified entity, those environment protection measurements have no impact to the operation of the Group but to other non-qualified enterprises. As a result, the Group has obtained more building projects during the Year, hence, the revenue of the Building Materials Business was increased. Prospects: Looking forward, the global economy is facing significant uncertainties and challenges resulting from the recent outbreak of COVID-19 across the world as well as the trade tension between China and US. It is anticipated that the China economy would be going downward in the first half of year 2020. Nevertheless, the Chinese government has imposed adequate and effective measures to control the disease from further spreading as at the date of this report. Also, the trade tension between China and US has been soothed in the past few months. The management of the Company believes that the threat from the above incidents to the economy would only be temporary in nature. The Group remain confident in long-term development growth with promising prospects in China.

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