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Public company info - Alltronics Holdings Ltd. , 00833.HK
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Alltronics Holdings Ltd., 00833.HK - Company Profile
Chairman Lam Yin Kee
Share Issued (share) 946,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Consumer Electronics
Corporate Profile Business Summary: The principal activities of the Group are the manufacturing and trading of electronic products, plastic moulds, plastic and other components for electronic products, the trading of biodiesel products, the provision of energy saving business solutions and operation of investment properties. Performance for the year: Total turnover from continuing operations for the year ended 31 December 2019 had decreased slightly by 1.9% to HK$1,260.8 million, as compared to HK$1,284.8 million for the year 2018. The overall gross profit margin from continuing operations had increased slightly from 14.5% for the year 2018 to 14.6% for the year 2019. The loss for the year from continuing operations attributable to owners of the parent was HK$335.5 million. However, if the impairment losses on the Consideration and the Debt of HK$113.7 million and HK$255.4 million respectively were excluded, there would be a profit for the year from continuing operations attributable to the owners of the parent of HK$33.6 million, compared to a profit of HK$75.4 million for the year 2018. Business Review The year 2019 was another challenging year of the Group. During the year, the demand for the Group’s electronic products remained to be strong and irrigation controller products were the core electronic products of the Group. The production facilities at Yichun have been expanded in order to cope with the increasing demand from customers. Total revenue for the year from continuing operations had remained stable at approximately HK$1.3 billion. On the other hand, the transaction for the disposal of the Group’s entire investment properties business has been completed in April 2019. However, despite the various collection efforts made by the Group, the consideration for the disposal transaction and the debt due from a disposed subsidiary were unsettled and full impairment losses on these amounts were made. As a result, the Group recorded a net loss attributable to owners of the parent of approximately HK$262 million for the year, compared to a net profit of approximately HK$104 million for the year 2018. The Group had initiated legal actions against the purchaser and the borrower of the debt to recover these overdue amounts, and will continue consulting its legal advisers on further actions to be taken to safeguard the interests of the Group as a whole. Besides the disposal of the investment properties business, there was no other major acquisition or disposal transaction made during the year. Prospects: Despite the challenging global economic environment, the performance of the electronic products segment had remained strong and stable during the year. The group expect the demand from customers for the Group’s electronic products will continue to be strong and stable in the year ahead. United States has accounted for approximately 47.7% of the Group’s total revenue for the year and will continue to be the major market for the Group’s products in the near future. The outbreak of COVID-19 since January 2020 has resulted in a challenging operational environment worldwide. The operations of the Group’s factories in China have been suspended for about 3 weeks during February 2020. These factories had resumed operations gradually since the end of February 2020 and the Group has also taken a number of short-term cost saving measures in response. New products are expected to be launched in 2020 to maintain the growth momentum. The production facilities of the factories in Shenzhen and Yichun are sufficient to cope with the demand from existing and new customers. During the year, the Group’s associated company in Yichun, namely Yichun Yilian Print Tech Co., Ltd. (“Yichun Yilian”), was approved as one of the qualified suppliers of printers to governmental organisations in China. The group expect the operations of Yichun Yilian will continue to expand in 2020 and its contribution to the Group will increase. Although it is difficult to predict the full impact of the COVID-19, the Group have confidence will overcome all difficulties and challenges. The Group will continue to look for new investment opportunity so as to diversify its business and to provide a better return to all shareholders.

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