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Public company info - National Investments Fund Ltd. , 01227.HK
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National Investments Fund Ltd., 01227.HK - Company Profile
Chairman Wang Ning
Share Issued (share) 1,641,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Investments & Assets Management
Corporate Profile Business Summary: The principal activity of the Group is investment in listed and unlisted companies. Performance for the year: No operating revenue was recorded (2018: a gain of approximately HK$9.69 million). Loss attributable to owners of the Company decreased by 58.02% to approximately HK$25.04 million. Basic and diluted loss per share was HK$3.23 cents (2018: HK$15.96 cents). Business Review The Company is an investment company and the Group is principally engaged in investments in a diversified portfolio of listed and unlisted companies. As at 31 December 2019, the Group’s investment portfolio in listed equity securities amounted to approximately HK$40.02 million (as at 31 December 2018: Nil), and investment in unlisted equity securities amounted to approximately HK$40.97 million (as at 31 December 2018: approximately HK$51.31 million). Impairment losses of HK$10.34 million were made on the unlisted investments during the Year. As disclosed in the announcement of the Company dated 20 November 2018, the Group, as the vendor, had entered into a sale and purchase agreement with an independent third party as the purchaser, pursuant to which the Group conditionally agreed to sell, and the purchaser agreed to acquire approximately 29.997% of the entire issued share capital of Medisun Holdings (Overseas) Limited at the consideration of HK$20,000,000. The aforesaid disposal constitutes a very substantial disposal of the Company under Chapter 14 of the Listing Rules and is subject to the shareholders’ approval. All conditions precedent to the sale and purchase agreement have been fulfilled and completion took place on 12 December 2019 in accordance with the terms and conditions of the sale and purchase agreement. A sum of HK$8,000,000 of consideration was paid by the purchaser on the completion date and had been used for repayment of the outstanding indebtedness. The remaining balance of the consideration payable by the purchaser in the sum of HK$10,000,000 will be settled in three installments of HK$3 million, HK$3 million and HK$4 million and payable in every 4 months on 29 April 2020, 31 August 2020 and 31 December 2020 respectively. The aforesaid disposal will provide the Group with additional cash flow and further strengthen its financial position. During the Year, the Group has been actively exploring other investment opportunities in order to diversify the existing investment portfolio of the Group. On 26 February 2019, the Group entered into a memorandum of understanding to acquire 20% equity interest in a company engaged in agricultural product cultivation, production, processing and sales, details of which are set out in the announcement of the Company dated 26 February 2019. The proposed acquisition is expected to enlarge the investment portfolio of the Group which can provide a more stable investment return in order to optimize the operational efficiency and to improve the cash flow of the Group. As no formal sales and purchase agreement has been entered into between the two parties within the exclusivity period, the memorandum of understanding has been automatically terminated on 25 August 2019. Moreover, in order to further optimize the assets structure of the Group so as to liquidize remnant assets and to utilize the remnant assets to settle the outstanding debt owed to the Purchaser (as defined below), thereby lowering the level of indebtedness of the Group, on 22 March 2019, the Company and OBOR Investments Fund Management Limited (the “Purchaser”) entered into the sale and purchase agreement, pursuant to which the Company agreed to dispose and the Purchaser agreed to acquire a collection of assets at an aggregate consideration of HK$5,838,000. The entire issued share capital of the Purchaser is owned by Mr. Wong Danny F., a former executive Director who resigned on 18 March 2019. For details, please refer to the Company’s announcement dated 22 March 2019. Prospects: The Group’s vision is to become a well-known investment company in Hong Kong. The Group plans to invest in listed and non-listed with high quality to strive for short-term and medium-term gains from capital appreciation in the course of securitisation of corporate assets invested, and apply the same as the Group’s key operation strategy and income source. 2019 was a rough year but towards 2020, global economy has overcome concerns from the trade war, Germany’s recession and Brexit, stabilizing growth shall be a reasonable anticipation. Besides, monetary policies are largely moderately expansionary, inflation would barely head up. The new year began flourishing peaceful news till the new virus, widely known as WARS attacked worldwide. Definitely, economic activities would be adjusted with China’s size of outbound travel and global exports. Moreover, the Gross Domestic Product of the PRC grew 6.1% in 2019, the slowest annual growth since 1990. Therefore, the market widely expects a challenging downside risk on the PRC’s economy in 2020. The market is expecting policies from the PRC authorities to boost up the economy. The Group will continue to implement diversified investment strategy aimed at identifying suitable investment opportunities with potential of asset appreciation to bring about better return to the Group and the Shareholders. The Group will also continue to adopt and maintain a prudent but proactive investment approach and will keep closely on monitoring the performance of the investment portfolios and is confident that the investment portfolios will deliver results and add value to the shareholders of the Company.

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