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Public company info - Midas Holdings Ltd. , 01021.HK
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Midas Holdings Ltd., 01021.HK - Company Profile
Chairman Chan Yuk Ming
Share Issued (share) 1,900,000,000
Par Currency
Par Value 0.0
Industry Nonferrous Metal
Corporate Profile Business Summary: The principal activities of the Group are manufacturing and sale of aluminium alloy extrusion products and polyethylene pipes. Performance for the year: Revenue declined marginally by 1.8% to RMB1,485.7 million during the year under review, compared to RMB1,512.2 million a year ago, attributable to lower revenue from the Aluminium Alloy Extruded Products Division. The Group ended the year with profits of approximately RMB100.8 million which represented 76.3% increase over FY2015. Business Review： FY2016 was a milestone year for Midas as the Group completed the acquisition of Huicheng Capital and its subsidiary which formed the Group’s new “Aluminium Alloy Stretched Plates Division” on 27 July 2016. With the expansion of the Group’s product offerings to include aluminium alloy stretched plates coupled with strengthening contributions from the Group’s associated company, NPRT, the Group delivered a 76.3% increase in profit after tax to RMB100.8 million during the year under review. The Group are heartened to have delivered improved profitability during the year, supported by the consolidated contributions from the Group’s new business segment. This bodes well for the Group’s diversification strategy as the Group seek to leverage synergies across the aluminium products value chain and cross sell the Group’s products and services to customers across industries. For FY2016, the Group recorded total revenue of RMB1,485.7 million. Revenue from the Group’s Aluminium Alloy Stretched Plates Division for the period from 27 July 2016 to 31 December 2016 amounted to RMB182.0 million, contributing to 12.2% of total revenue for the year. Meanwhile, the Group’s core Aluminium Alloy Extruded Products Division registered revenue of RMB1,293.3 million, accounting for 87.1% of total revenue in FY2016 compared to about 99.2% for the financial year ended 31 December 2015 (“FY2015”). During the year, the Group’s Aluminium Alloy Extruded Products Division and the Group’s associate, NPRT, also enjoyed a good stream of contract wins totaling approximately RMB533.6 million and RMB7,170 million respectively. Jilin Midas continued to benefit from the positive sentiment in the PRC railway industry. Besides a series of four metro train car body components supply contracts, Jilin Midas also garnered contracts totaling RMB251.9 million for the supply of aluminium alloy extrusion profiles and certain fabricated parts for the manufacture of high speed trains. The Group also actively sought international business opportunities, with three contract wins from the Middle East and Europe amounting to RMB152.3 million during the review year. The increased demand for the Group’s aluminium alloy extrusion products is representative of the confidence the Group’s repeat customers have in us as well as the Group’s leadership position in the high-speed train and metro train segments. Prospects: Besides capitalising on opportunities in the railway industry, Midas is on track with the implementation of our diversification and capacity expansion strategy, which contributes to the Group’s growing income streams and enhances our competitiveness. Going into 2017, Midas is expected to remain a beneficiary of the PRC’s railway expansion plans, as the government continues to invest in the expansion of the country’s railway network. Together with its “One Belt One Road” initiative, this represents significant infrastructure and construction opportunities in the PRC and overseas markets for businesses.

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