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Public company info - China Dredging Environment Protection Holdings Ltd. , 00871.HK
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China Dredging Environment Protection Holdings Ltd., 00871.HK - Company Profile
Chairman Liu Kaijin
Share Issued (share) 1,504,000,000
Par Currency Hong Kong Dollar
Par Value 0.2
Industry Infrastructure
Corporate Profile Business Summary: The Group is primarily engaged in dredging business, which can be divided into three main operating and reportable segments, namely, (i) capital and reclamation dredging business (the “CRD Business”); (ii) environmental protection dredging and water management business (the “EPD and Water Management Business”); and (iii) other works operated in marine sites such as hoisting wind power equipment, installing major parts of docks and bridges, as well as laying underwater pipelines and salvaging (the “Other Marine Business”). In addition, the Group engaged in property management business (the “Property Management Business”) in respect of managing Easyhome Yancheng Shopping Mall. Performance for the year: During the Reporting Period, the Group recorded a substantial decrease by about 35.3% in total revenue from approximately RMB442.4 million for the year ended 31 December 2019 to approximately RMB286.3 million. The net loss for the Reporting Period was approximately RMB537.4 million, representing an increase of approximately 3.0% as compared to a net loss of approximately RMB522.0 million for the year ended 31 December 2019. Business Review The outbreak of COVID-19 worldwide and the various public health measures put in place in many countries to prevent the spread of COVID-19 have disrupted the overall business of the Group at different levels of time and regions in 2020. After the Chinese new year in February 2020, the Group’s domestic businesses were affected by the lock-down of various cities implemented in mainland China, resulting in the forced suspension of all local operations until the gradual resumption of work beginning from late March to early April. Owing to the reorientation of the pandemic, when the operation of the China domestic projects resumed in the second half of the year, the overseas projects in the Southeast Asia were affected by the worsening epidemic in the local regions, and the operation of such projects had almost ceased since the mid-2020. Due to the shortage of material supply, the outof-line replacement of personnel and the frequent requests for work suspension by the local governments from time to time, the construction schedules and the output of the Group’s overseas projects were seriously affected in the second half of the year. The CRD Business is the Group’s core business. The Group proactively explored overseas markets in recent years and has actively undertaken several dredging projects in Bangladesh, Myanmar and Thailand in the Reporting Period. The decrease in revenue generated by such business segment was due to: (1) for the domestic construction projects, the outbreak of COVID-19 in mainland China in the beginning of 2020, which directly led to the complete halting of the operation of construction projects; and (2) for the overseas construction projects, although the construction sites are situated overseas, the replacement of equipment, supply of materials for maintenance and the rotation and support of the key business and operation personnel for the overseas projects were sent from mainland China. These overseas projects were affected both (i) by the pandemic within mainland China, causing multiple interruptions and long-term suspension of construction due to personnel and supplies movement restrictions, and (ii) by the pandemic overseas after the outbreak in mainland China came under control, which resulted in the restriction on the personnel from mainland China to come to the overseas construction sites and the restriction on supplies, as well as the various control and restrictions imposed by the governments of the countries and districts in which the projects are situated, which led to the long-term suspension of the business and a sharp drop in production capacity. The Group develops and expands the EPD and Water Management Business segment proactively. The Group recorded a slight increase in revenue during the Reporting Period, which was attributable to the desirable works progress of certain environmental protection dredging projects as COVID-19 was under control in the second half of the year in mainland China. Other Marine Business includes installing marine wind power equipment, hoisting major parts of docks and bridges, laying underwater pipelines and other works services. Due to the rapid development of the marine wind power constructions in mainland China, the Group will build a 2,300-tonned self-propelled fixed-crane vessel through financing solution with a total investment cost of RMB230 million, which is expected to be delivered by the end of June 2021, in order to grasp more such business opportunities. The name of Easyhome Yancheng Shopping Mall was changed to Xingyu International Houseware Plaza in April 2020. The shopping mall is located at the administrative centre of Yandu District, Yancheng City, Jiangsu Province, the PRC and the core area of Yancheng National High-tech Industrial Development Zone with a gross floor area of 75,600 square metres, is mainly used for leasing under the Property Management Business. The shopping mall was positioned as a largescale shopping center with domestic construction materials as its theme, offering one-stop services from furniture, housewares to decoration materials to customers. Currently, Xingyu International Houseware Plaza has more than 40 tenants, including renowned home furnishing brands M&Z Furniture (掌上明珠), Landbond Minim (聯邦米尼), Arrow Dingzhi (箭牌定制), Huashifu (華師傅) and Telonang (泰隆祥). Although the revenue of dredging businesses was seriously affected by the COVID-19 pandemic, it did not have much impact on the service industry including the property rental of the plaza. In addition to the operation and lease of shopping malls, the Group also commenced to construct a hotel located at the west of Caihong Road, Yancheng City, Jiangsu Province, the PRC, with a gross floor area of 20,000 square metres. Currently, the related construction works of the hotel has not been completed because of the funding issue of the Group. Prospects: Notwithstanding the adverse impacts on the Group due to the COVID-19 outbreak, the Group will continue to consistently and actively monitor market conditions, take appropriate actions to alleviate the negative impact of the pandemic on the Group’s business and performance, strengthen project cost control, and continue to stabilise construction projects, operation team and management system. Meanwhile, the Group continuously adopts a robust and prudent operating strategy to ensure an effective control of various possible operational risks as well as to speed up the collection of receivables. For capital operation, based on the progress of its substantial construction projects including the operating progress of the overseas projects, the Group will actively identify and materialise healthy and feasible financial plans, such as strengthening the collection of the receivables and enhancing the capital structure of the Group, so as to satisfy, support and meet the Group’s business development.

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