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Public company info - Royale Home Holdings Limited , 01198.HK

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Royale Home Holdings Limited, 01198.HK - Company Profile
Chairman Tse Kam Pang
Share Issued (share) 2,599,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Furniture & Household Goods
Corporate Profile Business Summary: The Group is principally engaged in the manufacture and sale of home furniture. Performance for the year: For the year ended 31 December 2019, the Group recorded revenue of HK$852.1 million (2018: HK$834.1 million), representing an increase of 2.2% from last year. The decrease of 0.9% on the Group’s overall gross profit margin to 31.1% for the year ended 31 December 2019 (2018: 32.0%) . Profit for the year was HK$67.2 million (2018: HK$66.5 million), representing an increase of 1.1%. Profit attributable to owners of the parent for the year was HK$63.0 million (2018: HK$52.6 million), representing an increase of 19.6%. Business Review During the year under review, affected by the ongoing Sino-US trade war and the economic slowdown of China, the furniture industry experienced severe challenges. While remaining focused on the franchise business, in view of the trend that customers would prefer personalised furniture and to cater for the demand, the Group has launched certain new product series with higher gross profit margin. Meanwhile, the Group has undertaken a number of furniture projects from commercial customers and worked with large property developers by co-operating with local distributors to sell our products to those prospective property owners, aiming to expand its revenue sources. Management System Reform The Group has carried out further reform at various departments by implementing the division system. The system allows senior management in specific divisions to own shares of their business units, to enhance the management and operational efficiency. At present, the Group’s business involves various segments, including finished furniture, customised business, upholstered furniture, hotel operations and real estate business. Each of which requires different expertise, production knowhow and sales techniques for respective markets. Each division formulates its own plans of marketing, production and administration for a more efficient resources allocation and utilisation, creating greater contributions and benefits to the Group as a whole. Brand Management Ms. Lin Chi Ling, a famous celebrity in Asia, continued to be the Group’s spokesperson and will feature in the Group’s advertisements as well as other marketing activities to promote the Group’s brand. In addition to hiring a spokesperson, the Group also promoted its brand through popular new media such as Weibo, WeChat, Baidu, Tencent, Sina, home.163, Douyin and industry featured To8to, driving traffic to physical stores in an efficient manner to support sales. Furthermore, through integrating the product and brand communication strategies, the Group adopted the strategy of “consumer orientation” strategy to continuously expand the influence of our brand. The Group also keeps good relationships with major media to maintain and manage its brand, as well as to respond quickly to market emergencies related to its brand. Prospects: With the onset of 2020, China’s economy faces downward pressure. Coupled with the novel coronavirus epidemic spreading over China and even across the world, the weak consumption momentum deteriorated further, likely postponing consumer appetite for furniture purchase. It is believed that furniture industry will embrace unprecedented challenges. Despite these, the Group has been actively confronting the challenges, while seeking various opportunities. Furthermore, we will explore the expansion of various businesses and commercial models to diversify our risk exposure. In terms of finished furniture business, apart from maintaining its steady growth in the existing third-tier and fourth-tier cities, the Group will launch high-end new products and imported products to further expand the markets in first-tier and second-tier cities, in order to increase its market share and enhance brand influence. The Group will continuously explore for opportunities to expand into the sector of household supplies besides our existing furniture business, so as to provide a one-stop shopping platform with more high quality products to consumers. The increase in products offerings will also enable the Group to undertake more projects. The Group has successfully acquired a parcel of land located in Qingyuan Yingde of Guangzhou which will be used for establishing advanced production lines to expand production capacity.

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