Share This

Public company info - Fullwealth International Group Holdings Limited , 01034.HK
Input the stock code or the company name     Search  
 
 Profile   Information   Data   Financial Ratios   Profit Loss   Cash Flow   Balance   Earnings   Dividend 

Fullwealth International Group Holdings Limited, 01034.HK - Company Profile
Chairman Ma Xiaoqiu
Share Issued (share) 1,600,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Construction & Decoration
Corporate Profile Business Summary: The group is principally engaged in the civil engineering and building works in Hong Kong. Performance for the year: The Group’s revenue for the year ended 31 December 2019 amounted to approximately HK$553.4 million, representing a increase of 74.8% from approximately HK$316.6 million for the year ended 31 December 2018. The Group’s gross profit decreased by 68.5%, from approximately HK$43.6 million for the year ended 31 December 2018 to approximately HK$13.7 million for the year ended 31 December 2019. Gross profit margin decreased from approximately 13.8% for the year ended 31 December 2018 to approximately 2.5% for the year ended 31 December 2019. The Group reported a profit and total comprehensive income for the year ended 31 December 2019 of approximately HK$7.2 million, representing a decrease of 41.3% from approximately HK$12.2 million for the year ended 31 December 2018. Business Review The Group has a long history of undertaking civil engineering works in Hong Kong with operation history since 1997. The Group’s civil engineering works can be broadly categorized as (i) site formation; (ii) excavation and lateral support works and pile cap construction; and (iii) roads and drainage and waterworks. The Group is able to undertake civil engineering works as either a main contractor or a subcontractor. Since June 2017, the Group has also been qualified to carry out private sector building works as well as alteration and additions works as a main contractor. During the year ended 31 December 2019 (the “Year”), the Group was awarded 5 projects with total initial contract sum of approximately HK$173.7 million and 11 projects with total initial contract sum of approximately HK$665.2 million were completed. As at 31 December 2019, the Group had 7 projects on hand and the total initial contract sum of which amounted to approximately HK$330.6 million. The 7 projects on hand are building works projects. For the Year, revenue amounted to approximately HK$553.4 million, representing a significant growth of approximately 75% as compared with approximately HK$316.6 million for the year ended 31 December 2018. The significant increase of the revenue was largely a result of projects awarded in the past year reaching a mature stage, thereby contributing to revenue of the Group. The overall gross profit margin of the Group decreased from approximately 13.8% for the corresponding period last year to approximately 2.5% for the Year. This was largely due to the strategic reduction of tender premium resulting from the uncertainties in Hong Kong economy starting from the second half of the Year, and also increase in construction costs which undermined the profit margin significantly. During the Year, the securing of funding approval through the Legislative Council in Hong Kong was proven to be difficult. In 2018, the political issues in Hong Kong and the delay in funding approval for public works led to reduction in Government infrastructure projects resulting in significant reduction of tenders. The limited tendering opportunities increased the competition in the construction industry, which affected the tendering price and profit margin of the projects. Prospects: The civil engineering industry will remain challenging in the coming year. The recent outbreak of novel coronavirus in Hong Kong have posted additional uncertainty to the economy and impacts to the Group’s operations. Despite the challenges ahead, the Group will pay more attention to tendering and subcontractor considerations such as fluctuating cost factors and project difficulties associated with challenging civil engineering content. The Group will keep focusing on existing projects and at the same time endeavor to bid for new projects. Meanwhile, the Group will also explore other business opportunities to improve returns for shareholders of the Company.

Information from the financial statements of listed companies

Mobile | Full
Forum rule | About Us | Contact Info | Terms & Conditions | Privacy Statment | Disclaimer | Site Map
Copyright (C) 2024Suntek Computer Systems Limited. All rights reserved
Disclaimer : In the preparation of this website, 88iv endeavours to offer the most current, correct and clearly expressed information to the public. Nevertheless, inadvertent errors in information and in software may occur. In particular but without limiting anything here, 88iv disclaims any responsibility and accepts no liability (whether in tort, contract or otherwise) for any direct or indirect loss or damage arising from any inaccuracies, omissions or typographical errors that may be contained in this website. 88iv also does not warrant the accuracy, completeness, timeliness or fitness for purpose of the information contained in this website.