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Public company info - Sino Prosper (Group) Holdings Ltd. , 00766.HK

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Sino Prosper (Group) Holdings Ltd., 00766.HK - Company Profile
Chairman LEUNG Ngai Man
Share Issued (share) 2,304,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Other Financials
Corporate Profile Business Summary: The Group is principally engaged in (i) investment in energy and natural resources (including precious metals) related projects; (ii) provision of loan financing and investment and management consultation services in the PRC; and (iii) import, distribution and sales of food and beverage products. Performance for the year: During the Reporting Period, the Group recorded a total revenue of approximately HK$34,062,000 (year ended 31 March 2019 (“FY2019”): HK$34,971,000). Business Review Investment in energy and natural resources (including precious metals) related projects a.The Aohanqi Mine The Group maintains the gold mine located in Aohanqi, Inner Mongolia, the PRC (the “Aohanqi Mine”) which is undergoing a period of small-scale operation and the Group renewed the mining permit of the Aohanqi Mine on 19 April 2018, which will remain valid until 19 April 2021. The Group has also renewed the Safety Mining Permit*( 安全生產許可証)for the mining in the Aohanqi Mine until 25 February 2023. b.Consultancy business in mining industry The current business scope of the consultancy business in mining industry included mining exploration advice, technical advice, economic and information consultancy services. With the relevant experience in acquisition, exploitation and exploration in mining business and the relevant professional experts retained by the Group, the Group has commenced its mining consultancy business with the customers by utilising its internal professional experts since July 2018. The mining consultancy services provided to customers include operation management, licence application, licence extension, exploration management, geological and technical field services, assisting in exploration auditing, business development, and other related technical services. For the year ended 31 March 2020, the Group recorded revenue of approximately HK$1.7 million from the mining consultancy services. The COVID-19 outbreak has impacted the global business environment and the PRC since early 2020, which has resulted in material impacts on the consultancy business in mining industry as the Group cannot provide consultancy business on site due to various social distancing measures implemented by the PRC government. The Directors expect that the consultancy business in mining industry in the forthcoming financial year might still be affected to a certain extent, which will depend on the new development concerning the global severity of and actions taken to contain COVID-19. c.Fluorite processing and sales business The Directors consider that the demand for fluorite, as a national strategic resource, is increasing in the PRC, the Group has developed fluorite processing and sales business since the first half of this financial year. From the perspective of consumption trend, as worldwide fluorine chemical technology improves constantly, fluorine chemical industry’s demand for hydrofluoric acid as well as acid grade fluorite continues to increase. Currently, more than half of the world’s fluorite production is used to extract hydrofluoric acid. Fluorite is a non-renewable resource. Extracting fluorine from apatite is one of the important ways to obtain fluorine element. The future development direction of global fluorite industry will lean toward elaboration-oriented, compounding-oriented, lightweight-oriented, and environmentally-friendly circular economy development and serve the application, research and development of high and new technology. Fluorite is an indispensable upstream base raw material for the fluorine chemical industry chain. Fluorite and its downstream products are widely used in traditional areas such as metallurgy, chemical engineering, building materials and optics, and have been initially applied in strategically emerging industries such as new energy and new materials in recent years. The main types of fluorite products are acid fluorite fine powder, high grade fluorite lump ore, metallurgical fluorite fine powder and ordinary fluorite raw ore. Of which, acid fluorite fine powder mainly reacts with sulfuric acid to produce hydrofluoric acid, providing raw materials for the manufacture of fluorine chemical downstream products. During the financial year ended 31 March 2020, the Group has obtained relevant business licenses and ordered a batch of fluorite and relevant processing and manufacturing facilities, which generating revenue of approximately HK$0.5 million. Prospects: The unprecedented COVID-19 outbreak in China has brought unpredictable and forced majeure risk factors to all walks of life. The Group will from time to time review the business development outlook of its project companies and make appropriate adjustments to ensure that the Group can cope with the economic prospects. Meanwhile, the Company will keep pace with the trends by proactively seeking opportunities to invest in business with greater returns for Shareholders.

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