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Public company info - Tenwow International Holdings Limited , 01219.HK
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Tenwow International Holdings Limited, 01219.HK - Company Profile
Chairman LIN Qi
Share Issued (share) 2,206,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Diversified Food & Beverage
Corporate Profile Business Summary: The Company is principally engaged in the manufacturing, distribution and trading of beverages, food and snacks and others in the People’s Republic of China (the “PRC” or “China”). Performance for the year: For the year ended 31 December 2018, the Group recorded revenue and gross profit of approximately RMB1,547.5 million and RMB179.6 million, respectively, representing a decrease of approximately 69.2% and a decrease of approximately 80.2% as compared to 2017, respectively. Loss attributable to equity holders of the Company amounted to approximately RMB4,172.7 million and basic loss of RMB189.15 cents per share, respectively (2017: Profit attributable to equity holders of the Company of approximately RMB160.0 million and basic earnings of RMB7.25 cents per share). Business Review： 2018 is the most challenging year in the Group’s history. Since May 2018, the Group are unable to directly contact or reach Mr. Lin Jianhua (“Mr. Lin”), the controlling Shareholder, and the then executive director and former chairman of the Board. Mr. Lin was assisting relevant authority of the PRC with its investigation (the “Incident”). This Incident has seriously disrupted the ordinary business operation of the Group. It also unveiled a series of abnormal transactions that have huge impact on the Group’s financial liquidity. Due to lack of financial resources, the Group had to scale down its business operation. Despite these challenges, the Group focused on core business, key stock keeping units (the “SKUs”) and meaningful third-party brands that can help sustain the business. Thanks to everyone’s hard work, the Group managed to stabilise its business by focusing on key products and key markets. Eastern China, where the Group’s headquarters located, is still the Group’s biggest and most important market. The Group were also able to maintain a relatively sound distribution network in Central China. I strongly believe the Group’s renowned brand and strong distribution channels will serve us well and will be an important asset for us to transform Tenwow to overcome these headwinds. The management team is now working closely with different stakeholders and looking at all sorts of opportunities to streamline the Group’s business and focus on what the Group are good at. Prospects: The year of 2019 will continue to be full of challenges. As domestic and international economic environment remains uncertain, the Chinese government has adopted various policies to ensure steady progress in the overall economy and to safeguard employment. Many circumstances will remain uncertain in the short term, but in the long run, the huge potential of China’s consumer market still provides ample opportunities up for grabs. The management team will continue to mitigate the negative impact and implement measures to overcome challenges facing the Group, and realise and enhance core strengths of the Group for its sustainable development. Last but not least, the Board has been making its best efforts to the resumption of trading of the Shares as soon as reasonably practicable.

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