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Public company info - Bolina Holding Co. Ltd. , 01190.HK
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Bolina Holding Co. Ltd., 01190.HK - Company Profile
Chairman ZHENG Zhihong
Share Issued (share) 1,278,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Furniture & Household Goods
Corporate Profile Business Summary: The Company is principally engaged in the manufacture and sale of sanitary ware products and research and development, manufacture and sale of massage chairs and massage devices. Performance for the year: Revenue increased by approximately 3.0% to RMB490,854,000. Net loss decreased by approximately 34.9% to RMB244,149,000. Basic loss per share decreased by approximately 34.5% to RMB19 cents. Business Review: During the year, the Group was principally engaged in the manufacture and sale of sanitary ware products and research and development. In 2019, the Group attained revenue of RMB490.9 million, which increased approximately 3% from that of RMB476.5 million in 2018. Loss for the year attributable to the equity holders of the Company decreased to RMB240.1 million, mainly due to (1) the increase in the revenue and gross profit; and (2) the decrease in the selling and marketing expenses and administrative expenses. Ceramic sanitary ware business The Group is one of the largest manufacturers of ceramic sanitary ware products in China to produce “Bolina” brand (own branded products) as well as ODM (original design manufacturing) and OEM (original equipment manufacturing) products for international wellknown brands. The Group manufactures ceramic sanitary ware products at its production facilities in Zhangzhou, Fujian Province, the PRC. For the year ended 31 December 2019, the Group’s sales volume was approximately 3.9 million units, which increased by 0.3 million units, or 8.3% compared to 3.6 million units from 2018. Over the years, Bolina, as one of the major suppliers for high-end markets including Europe and the US, acquired a sound reputation and maintained a leading position in the exporting field. With its long-term strategic cooperation with many world-class brands, its products reached various countries and regions, including America, Europe, Korea, Australia, Southeast Asia, Middle East, etc. The Group’s own branded business in China was mainly carried out through third party distributor model. In order to expand the Group’s direct sales channel, the Group had developed close strategic cooperative ties with a number of large real estate groups as well as established sales channels through e-commerce platforms, including Tmall and JD.com, to promote and sell Bolina’s own branded products. The Group values scientific research and innovation and the improvement of production technology; it is equipped with cutting-edge research and development (R&D) and product design capabilities in the industry. As a national high-tech enterprise, the Company has a strong R&D team. Massage chairs and massage devices business In 2017, the Group acquired a company incorporated in the PRC which engaged in the research and development, manufacture and sale of massage chairs and massage devices. The products include medium-to-high end massage chairs and various kinds of massage devices which have supporting functions of relaxing, treatment, healthcare and detection. The acquired company was a high-technology enterprise in the industry of healthcare. However, in order to focus more on the Group’s core business of ceramic sanitary ware products, the Group’s interest in the said company was fully disposed in year 2019, after which, the said company is no longer a subsidiary of the Company. Prospects: In terms of its own branded products, the Group continues to enhance the image of international brand image so as to consolidate the youth market. At the same time, the mainland real estate market continues to develop steadily. The Group will strive to negotiate cooperation development opportunities with first-tier real estate developers in the mainland. The goal is to contract the supply of sanitary equipment for new real estate projects in order to boost the Group’s product sales. In addition, the promotion of new internet media channels will be emphasized. In the face of global uncertainties, the company will always remain vigilant and adjust its market strategy in response to the market environment.

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