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Public company info - Changshouhua Food Co. Ltd. , 01006.HK
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Changshouhua Food Co. Ltd., 01006.HK - Company Profile
Chairman Wang Mingxing
Share Issued (share) 574,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Agricultural, Poultry & Fishing Production
Corporate Profile Business Summary: The principal activities of the Company is the production and sale of edible oil, crude oil and corn meal. Performance for the year: For the year ended 31 December 2019, the Group’s revenue decreased by approximately 12.4% to approximately RMB3,003.5 million (2018: approximately RMB3,428.2 million) and the gross profit decreased by approximately 8.7% to approximately RMB728.1 million (2018: approximately RMB797.9 million), whereas the gross profit margin increased to approximately 24.2%, due to a drastic decline in the sales of non-branded (bulk) edible oil which generated a lower profit margin. For the year ended 31 December 2019, the Group recorded a decrease of approximately 7.9% in profit before income tax to approximately RMB378.8 million (2018: approximately RMB411.5 million), and a decrease of approximately 7.6% in profit for the year attributable to owners of the Company to approximately RMB320.5 million (2018: approximately RMB346.9 million), respectively. Business Review： Although the Chinese economy and the domestic consumption were under a gloomy atmosphere due to the China-US trade war, the Group continued to optimise its sales and the high-end wholesale of distributors and direct retails channels. As a result of the brand revamp of the Group through the promotion of the Five-Year Business Development Plan, the gross profit margin of the Group’s ownbrand products remained stable. In response to the dynamic industrial changes in edible oils market in the PRC, the Group continued to carry out development plan for revamp of the brand, product diversification and expansion in and optimisation of sales network. The Group will continue to integrate and optimise the sales network in line with the regional business development. The Group has been continuing to prioritise own brand development and gradually introducing other different types of edible oil products and the series of Changshouhua Kitchen food products under the brand of “長壽花” (Longevity Flower). According to the Five-Year Business Development Plan, the Company is committed to the product diversification and the transformation of single-product company to a retail brand corporation. In the future, the Company will focus on the development of the own brand business in line with the Company’s long-term development approach. The Group’s long-term and enduring development depends on its mature and stable marketing and distribution network. As at 31 December 2019, the Group had a distribution network of 1,410 (31 December 2018: 1,479) wholesale distributors and 150 (31 December 2018: 153) retailers, covering all provincial-level administrative regions (except Tibet) of the PRC. Prospects: In response to China’s ever-changing edible oil industry, the Group announced a five-year business development plan for the brand of “ 長壽花” (Longevity Flower) in the 2015 interim results announcement in order to better cope with future challenges under the Group’s business model. 1. Brand upgrading and further enhancement of brand image of “ 長壽花” (Longevity Flower) as a high-quality, green and healthy product in medium and high-end markets. 2. Product diversification

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