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Public company info - Miko International Holdings Limited , 01247.HK
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Miko International Holdings Limited, 01247.HK - Company Profile
Chairman Ding Peiji
Share Issued (share) 984,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Apparel
Corporate Profile Business Summary: The Group was principally engaged in the business of design, manufacture and sales of children apparel products. Performance for the year: The Group’s revenue recorded a decrease of about 30.3%, from approximately RMB166.0 million for FY2019 to approximately RMB115.8 million for FY2020. Business Review: For the full year of 2020, revenue and net loss before taxation of the Group amounted to approximately RMB115.8 million and RMB78.2 million respectively, as compared to revenue and net loss before taxation of approximately RMB166.0 million and RMB256.4 million respectively for the full year of 2019. The extraordinary outbreak of the COVID-19 pandemic and the globally lockdown of the cities severely hit the world economy in the year of 2020. The major economies of the world had been facing a struggling situation and had turned into a sharp decline with a fragile recovery. The outbreak of COVID-19 pandemic caused business disruptions in Mainland China especially in the first half of 2020 but the economy had resumed normal gradually second half of 2020. The Group’s office, production facilities, distributors and suppliers were instructed to close temporarily from January to March of 2020. The Group’s office and production facilities had resumed operations starting from March 2020 and all of the distributors and suppliers had resumed operations by early April of 2020. As a result, COVID-19 pandemic had affected wholly the Group’s sales revenue, supply chain and production and the Group’s financial results in the first half of 2020 and the Group picked up slowly in the second half of 2020. Considering the unprecedented challenges and market uncertainty posed by the global health and economic crisis, the Group had taken immediate actions to preserve cash and strengthen its liquidity. The Group had closed down all self-operated stores in view of the tough business environment in the year of 2020. Prospects: The Group has been managing operating expenses and reducing its marketing and promotion cost sharply under the current tough economy and business environment. In addition, the Group has remained focused on further strengthening resilience of the business and ensuring the sustainability in the market during the year and going forward. The Group will keep cautious to the ever changing situation in Mainland China going forward. Nevertheless, the outlook of the industry and business in the upcoming year is highly uncertain given the outbreak of the COVID-19 pandemic. In the medium to long-term, the Group remains cautiously optimistic about its business and believes that it will bring satisfactory and sustainable returns to the shareholders. The Group continuously remains open to the opportunities for investment that can lead to sustainable growth going forward.

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