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Public company info - DTXS Silk Road Investment Holdings Co. Ltd. , 00620.HK
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DTXS Silk Road Investment Holdings Co. Ltd., 00620.HK - Company Profile
Chairman Lu Jianzhong
Share Issued (share) 668,000,000
Par Currency Hong Kong Dollar
Par Value 0.5
Industry Conglomerates
Corporate Profile Business Summary: The Group is principally engaged in (i) auction business and arts and collections related business; (ii) e-Commerce, including making and sales of wine; and (iii) marine engineering and related services during the financial year. Performance for the year: The Group’s revenue from continuing operations recorded approximately HK$193.1 million for the year (2019: HK$235.4 million), representing a decrease of approximately 18% as compared with 2019, which was mainly due to the decrease in revenue from sales of merchandises. Profit for the year ended 31 December 2020 was approximately HK$30.2 million (2019: HK$8.2 million), representing an increase of approximately 268% as compared with 2019. Business Review Arts and Cultural Division This division, comprising the auction business and the Art Central Business District (“ACBD”) business, contributed a segment revenue of approximately HK$75.5 million (2019: HK$55.2 million), and a segment profit before tax of approximately HK$49.3 million (2019: HK$20.7 million) for the year ended 31 December 2020. Due to the outbreak of coronavirus disease 2019 (“COVID-19”), large scale auction was not able to be held. Therefore, the Group’s operation model had been adjusted, the Group have focused to host online auctions during the year of 2020. Three online auctions were held in late August and September 2020, covering bronze mirrors, inscriptions on the stone tablets, paintings, calligraphies and old coins. Commission income from previous auctions held of approximately HK$28.1 million was received in 2020. The Company had established two ACBD centers in Xi’an and in Hong Kong respectively. The main business functions of these centers are to provide integrated functions of storage, exhibition, auction, promotion and trading of arts and collections. The centers aim to create a strong network with other art and culture partners for hosting events and building relationship. Due to the outbreak of COVID-19, the Group have closed down the ACBD center in Hong Kong in November 2020 for optimising financial performance. Winery and Trading Division During the year ended 31 December 2020, the Group realigned the Winery and e-Commerce divisions to Winery and Trading division to align with the Group’s longterm business strategy. This division, comprising the winery business and trading business, contributed a segment revenue of approximately HK$107.7 million (2019: HK$180.2 million), and a segment loss before tax of approximately HK$6.2 million (2019: HK$5.8 million) for the year ended 31 December 2020. In 2020, the Group cooperate with world-renowned painters and master brewers to develop a sizable product line with characteristics of the winery products of DTXS, which gradually becomes one of the major business of the Group. Although sales plans of wines have been delayed amid the COVID-19 pandemic, the Group proactively set up various distribution channels and organise wine promotion campaigns in Hong Kong, Mainland China and Europe to create earnings and brand awareness for the Chateau Puy Bardens. Due to the outbreak of COVID-19, the management has decided to slow down the e-Commerce business, and now is reviewing the strategic positioning and business operations of the trading division. Property Development Division This division contributed a segment revenue of approximately HK$10.0 million (2019: Not applicable) and a segment loss before tax of approximately HK$4.4 million (2019: Not applicable) for the year ended 31 December 2020. The properties are located in Tang West Market, Lianhu District in Xi’an City, the People’s Republic of China (the “PRC”). Based on the current business plan, the properties have been planned to develop into the Silk Road International Culture Center with comprehensive cultural artworks operations, cultural artwork financing and Silk Road international cultural entertainment complex. The Silk Road International Culture Center is designed with three major features, namely (i) the headquarter of Silk Road Chamber of International Commerce; (ii) Artwork Central Business District; and (iii) the European section of Silk Road Culture Street. Silk Road International Culture Center comprises three office buildings, a shopping mall and a five-star hotel. The three office buildings are estimated to have an aggregate gross floor area of approximately 260,000 sq.m. The pre-sale permits for the two blocks of office buildings were obtained in December 2019 and the pre-sale has begun. Prospects: Although the Group recorded a profit in the year of 2020, the economic slowdown arisen from the continuous outbreak of COVID-19 as well as geo-political tensions may adversely affect the businesses and operations of the Group. The original scheduled physical auctions in 2020 in Beijing were cancelled. In response to the policy of infection prevention and control of epidemic, number of social gatherings will be reduced to avoid cluster infection, thus affecting the sales of wine. All businesses are under more pressure with the economic slowdown during the year. The Group introduced a new property development business segment in the first quarter of 2020. The Group aims to create synergy among the existing businesses and the new business. Also, the Group will continue to explore business opportunities by leveraging on the parent group business network and cooperating with its strategic shareholder, New World Development Group.

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