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Public company info - Yorkshine Group Holdings Limited , 01048.HK

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Yorkshine Group Holdings Limited, 01048.HK - Company Profile
Chairman Zhu Jun
Share Issued (share) 191,000,000
Par Currency
Par Value 0.0
Industry Steel
Corporate Profile Business Summary: The Group was principally engaged in the manufacturing, sales and distribution of tinplate and related products for metal packaging industry (the “Tinplate Manufacturing business”) in the People’s Republic of China (the “PRC”) while the trading and distribution business has been suspended since the beginning of the financial year ended 30 April 2018 (“FY2018”). Performance for the year: Sales revenue was US$16.4 million Net profit was US$23.9 million, turned from a loss of US$13.4 million in previous financial year Earnings per share was 12.79 US cents Businesses Review The Group has engaged in the Tinplate Manufacturing business since 2012. Located in Jiangsu, the Tinplate Manufacturing segment with its Taizhou plant (“Taizhou Plant”) principally engages in manufacturing, sales and distribution of tinplate products. With a strong team of competent and experienced personnel, coupled with a progressive technology, high-quality-level products as well as comparatively new machine and equipment, the Group has successfully strived for the resumption of the operations of the factory in Taizhou in May 2018 and generated US$16.4 million revenue for the Year. Prospects: The Group is fully dedicated to the manufacturing of metal packaging material, tinplate, and related businesses, i.e. the Tinplate Manufacturing business. The Group aims to be a leading supplier of tinplate products in the PRC and eventually globally. Tin is a non-toxic element widely used in coating of steel sheet products, i.e. food cans, to increase the preservation of nutrition and flavour of food, and to reduce oxidation of food. Tin also has a metallic lustre that provides an aesthetic look for tinplate containers. It also has excellent properties in corrosion resistivity and high weldability. Tinplate products can also be easily recycled and hence demand has been growing to replace non-degradable packaging products. Tinplate’s special characteristics have made it the premier product of choice for the metal packaging industry. The stringent environmental rules in Mainland China have forced unqualified factories to close down since 2018 which has significantly lowered the supply of tinplate products in the PRC and export. Since the inception of revitalization, the Taizhou Plant has been designed with the proper consideration on environmental protection. A 3-year sewage disposal license was granted on 18 December 2018 by the Taizhou City Environmental Protection Bureau which enables the Taizhou Plant to expand its value chain on a critical process — the “pickling” for the raw steel. Taizhou Plant is highly recognised by the Government of Xinghua City, Taizhou in Jiangsu province. Tinplate is currently used for making all types of containers such as food cans, beverage cans, 18-liter cans and artistic cans. Its applications are not limited to containers. Recently, tinplate has also been used for making electrical machinery parts and many other products. The Group is also developing new potential product lines and continually optimizing existing product lines to satisfy the unique needs of various existing and potential customers. Can manufacturing and the laminated steel production line are currently under construction and are yet to be put into production. Demand has also been growing with the increasing use of tinplate to replace the nondegradable packages and also as substitutes to overcome the current disadvantages in using PET material (e.g. for cooking oil). Furthermore, the increasing consumption of canned food together with the growth of e-commerce purchases on canned food all over the world compounded the growth in demand of tinplate products. With the support of the Company’s Executive Chairman, Mr. Zhu Jun, the Company considers its Tinplate Manufacturing business having enormous growth potential and becoming the key revenue driver for the Group. In spite of the suspension of operation of the Taizhou Plant, the Group has laid down strong foundations throughout the chain of steel product manufacturing and has established a strong presence and will continue to have a strong influence in the steel industry. The Company will consider to resume the Trading & Distribution business, which is under suspension, should market and economic conditions prevail. The Group will actively explore and identify more meaningful investment and other business opportunities riding on the “One Belt; One Road”, the construction of Greater Bay Area and the high growth in Mainland China. Furthermore, the Group will continue to streamline the corporate structure of the Group to enhance the financial position for the interests of the shareholders.

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