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Public company info - Golik Holdings Ltd. , 01118.HK
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Golik Holdings Ltd., 01118.HK - Company Profile
Chairman PANG Tak Chung
Share Issued (share) 574,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Steel
Corporate Profile Business Summary: The principal activities of the Group are manufacturing and sales of metal products and building construction materials. Performance for the year: As at 31st December, 2019, the equity attributable to the shareholders of the Company amounted to HK$908,435,000 (31st December, 2018: HK$934,918,000). Business Review During the year, metal products and building construction materials represent the Group’s two major core businesses. For the year ended 31st December, 2019, the Group’s total revenue was HK$2,803,735,000 representing a decrease of approximately 9% compared to last year. The two major core businesses remained stable during the year, while the slight decrease in income was mainly attributable to the impact from the decrease of steel prices. After the deduction of profit attributable to non-controlling interests, loss attributable to the Company amounted to HK$6,233,000, which is a remarkable improvement compared to last year. During the year, the Group’s overall businesses continued to operate in a challenging environment, especially the construction industry in Hong Kong was still in a severe depression. However, through the team’s unremitting efforts, our result has recorded a significant improvement. Excluding the provision made for the disposals of certain non-core businesses due to business restructure and the non-operational and cash flow expenses under the new accounting standard (Hong Kong Financial Reporting Standard 16 Leases), overall result for businesses of the Group have basically returned to profit. Metal Products The business is currently comprising of steel coil processing, steel wires, and steel wire rope products. Revenue for the year was HK$1,233,605,000, an increase of approximately 4% compared to last year. Profit before interest and taxation was HK$91,942,000, a drastic increase of approximately 90% compared to last year. During the year, our metal products business remained stable. The relatively stable prices in raw materials and the good performance of our steel wire rope business in Tianjin, Mainland China have contributed to the greatly-improved efficiency. Benefited from the sound progress in the high-performance lifting wire rope market development and the increased capacity for elevator wire rope in the beginning of the year, both production volumes and performance for our steel wire rope products hit another new height. The steel wire rope business in Tianjin, Mainland China is currently the largest elevator wire rope manufacturer in the world. Over the years, it provides stable supply of steel wire rope packages to international renowned elevator companies, such as OTIS, HITACHI, MITSUBISHI, THYSSEN, etc and has even replaced most of the imported products in recent years, which is an evidence to prove that the market has recognition and trust in the Group’s production technology and quality of steel wire rope products. Steel wire rope products, which include elevator wire rope and high-performance lifting wire rope, are the Group’s key development projects in recent years, with the objective to become one of the best steel wire rope enterprise in Mainland China. For many years, our management and team have been devoting tremendous efforts in equipment investments, human resources trainings, product researches and developments as well as market expansion, meanwhile, we have also been tolerating for the negative impacts on the Group’s results from years of developments, which is now become mature and entering into its harvest period. The Group is confident that with the dedicated efforts of the management and the team, the steel wire rope business is able to bring ideal returns to our shareholders. Building Construction Materials The business comprises mainly of ready mixed concrete, precast concrete products and distribution and processing of construction steel products in Hong Kong. Revenue for the year was HK$1,561,518,000, a decrease of 17% compared to the corresponding period of last year. Profit before interest and taxation was HK$2,106,000, representing a significant improvement as compared to last year. The Hong Kong construction industry is still in a difficult situation. Furthermore, our steel processing operation had a contract in relation to processing construction steel products that entered into during the year has been delayed for almost 1 year due to the settlement at the construction site, which has caused a certain extent of negative impact on the performance. Nevertheless, in the year, the Group enhanced various cost managements of the building construction material business, with a more prudence and focused on the soundness and sustainability of the building construction material business. During the year, the building construction material business obtained obvious improvements when compared to last year. Although the general construction industry is still trapping in a sluggish market, with the commencements of a number of large-scale public works projects, such as expansion of the airport, developments in Kai Tak and West Kowloon and Tseung Kwan O Tunnel, as well as the coming years will be a peak season for public housing constructions, the Group remained optimistic about the building construction material business. Prospects: In the beginning of 2020, there was an outbreak of the novel coronavirus (COVID-19) pandemic, coupled with the social unrest in Hong Kong since June in last year, it is no doubt that the short-term business of the Group will experience huge shocks and challenges and slow down the recovery expectations for the Group’s results, however, the steady upward trend for the development of the Group’s business for the coming years will remain unchanged. Facing the current challenges, the Group will emphasis more on the stabilities of each business and various cost expenses, and further optimize its business portfolio. In particular, we will invest more to develop the domestic steel wire rope business, which has a relatively better situation. By virtue of the unremitting efforts from our management and team, the Group is confidence and dedicated to undergo the current challenges and restore the Group’s performance to another growth cycle as soon as possible.

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