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Public company info - G-Resources Group Ltd. , 01051.HK
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G-Resources Group Ltd., 01051.HK - Company Profile
Chairman Li Zhongye, Cindy
Share Issued (share) 27,049,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Investments & Assets Management
Corporate Profile Business Summary: The principal activities of the Company are principal investment business, financial services business and real property business. Performance for the year: The Group achieved a net profit after tax of USD43.5 million for the Year which decreased by USD4.8 million as compared to the year of 2018. Business Review： (i) Principal Investment Business During the Year, the Group invested approximately USD57.5 million in listed and unlisted financial assets, which were mainly additional holding of Edge Special Opportunity Limited, one of the Group’s unlisted security investments of USD33.9 million and payment for a commitment of the unlisted security investments of USD18.9 million under the funds subscribed by the Group since 2017, namely Genesis Capital I LP, Genesis Capital II LP and Terra Magnum Fund I LP. Other than the abovementioned reasons, the net increase of USD26.9 million in non-cash financial assets was primarily due to the return on capital investment generated from the unlisted security investments and the realised and unrealised fair value gain on the listed shares and unlisted security investments acquired in previous years. (ii) Financial Services Business The Group focuses on the four key financial services business areas mainly in the Hong Kong market, which are (i) securities trading and brokerage, (ii) margin financing, (iii) money lending, and (iv) asset management. The Group’s financial service business mainly focuses on the Hong Kong market. Since the acquisition of FSHL and its subsidiaries (“FSHL Group”) by the Group in December 2018, the Group’s existing businesses in the financial services industry operated by Enhanced Financial, which has become the Group’s wholly-owned subsidiary of the Company since May 2019, were complemented. Both Enhanced Financial and FSHL are involved in the provision of licensed financial services, which principally include underwriting, securities and futures brokerage, corporate finance, investment advisory, and other related financial services in Hong Kong and other countries. (iii) Real Property Business The Group had three floors of commercial office (including 17th, 18th and 19th floor) and ten car parks located in Capital Centre, No. 151 Gloucester Road, Wanchai, Hong Kong. The commercial offices are used as the Group’s head office and leased to third parties for office use under a lease of not more than three years. The rental income earned and the profit before taxation were USD2.2 million and USD2.3 million (2018: USD2.2 million and USD2.2 million) for the Year, respectively. Prospects: Besides the general downward pressure on the markets, as well as unforeseen and violent social unrest in Hong Kong, the outbreak of coronavirus pandemic has weighed on global financial markets, and it is expected to profoundly impact business and corporate operations of countries around the world. The Dow Jones Industrial Average fell significantly, and the markets in Europe and Asia also tumbled over growing fears about the coronavirus outbreak and oil prices. Business operations across Asia, Europe, and the United States are being disrupted by factory closures, quarantined workers and shortages of components. Risk aversion has increased in financial markets, with the interest rate falling to a record low and equity prices declining sharply, commodity prices have dropped, and business and consumer confidence have turned down. It is still uncertain when the normalisation of the work resumption rate will occur, and the infection will continue to undermine consumer confidence and economic activities. Banking on the Group’s existing solid capital base, the Group actively optimised resources allocation and maintained the Group’s conservative and diligent investment philosophy. The Group believe that this strategy enables us to minimise the impact on the Group’s business and financial performance in 2020 under the current economic environment. Looking-forward. Although it is far too early to predict and assess the ultimate impact of the coronavirus pandemic on the global economy and corporate earnings, G-Resources will maintain a balanced approach to asset allocation given the uncertain nature of the coronavirus outbreak and its global impact from rising infections, the general downward pressure on the global markets, as well as unforeseen and violent social unrest in Hong Kong.

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