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Public company info - Labixiaoxin Snacks Group Ltd. , 01262.HK
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Labixiaoxin Snacks Group Ltd., 01262.HK - Company Profile
Chairman Zheng Yu Huan
Share Issued (share) 1,329,000,000
Par Currency U.S. Dollar
Par Value 0.05
Industry Packaged Foods
Corporate Profile Business Summary: The Group are manufacturing and sales of jelly products, confectionary products, beverages products and other snacks roducts. Performance for the year: Revenue of the Group increased by approximately 9.0% to RMB508.8 million for the year ended 31 December 2020 when compared with year 2019. For the year ended 31 December 2020, the Group recorded a net loss of RMB29.4 million, a decrease of approximately 82.7% from the net loss of RMB170.1 million in last year. Business Review： Jelly products Revenue of jelly products increased by approximately 10.0% from RMB349.2 million for the year ended 31 December 2019 to RMB384.2 million for the year ended 31 December 2020, primarily due to the Group having strengthen its e-commerce and new retail channels and launched more advertising and promotion activities both online and offline during the year. During the year ended 31 December 2020, revenue attributable to jelly snacks increased by approximately 4.6% to RMB237.5 million while sales attributable to jelly beverages increased by approximately 20.0% to RMB146.7 million. Confectionary products Revenue of confectionary products decreased by approximately 1.5% from RMB105.7 million for the year ended 31 December 2019 to RMB104.1 million for the year ended 31 December 2020, which was primarily due to the Group having shifted its focus to promote jelly products and bean curd products. Beverage products Revenue of beverages products of the Group decreased by approximately 33.3% to RMB5.2 million during the year ended 31 December 2020, which was primarily due to the Group having shifted its focus to promote jelly products and bean curd products. Other snacks products For the year ended 31 December 2020, revenue of other snacks products increased by approximately 292.3% to RMB15.3 million mainly due to significant increase in sales of bean curd products. Other snacks products includes cakes, breads, bean curd products, egg rolls etc. The Group launched various new bean curd products during the year under review and these products were well received by the customers. The Group will continue to develop new healthy snacks products to meet the different taste of the customers. Prospects: Due to the outbreak of the COVID-19 pandemic since the last quarter of year 2019, the Group’s production and sales were partially disrupted during the first quarter of year 2020. The consumer sentiment in the PRC gradually recovered in the second half of year 2020 due to the stabilization of the COVID-19 pandemic in the PRC. To cope with the negative impacts on the Group’s sales due to the COVID-19 pandemic, the Group began to strengthen its e-commerce and new retail channels and launched more advertising and promotion activities both online and offline during the year 2020. These measures had positively boosted the Group’s sales performance during this difficult year. Although the economy of the PRC rebounded with a good momentum, the Directors considered that a complete and strong recovery of PRC’s economy and the Group’s business may not happen in the short term. To build a solid foundation for mid-to-long term growth, the Group is committed to (i) taking proactive steps in marketing its brand image and products in 2021 and onwards, (ii) launching new snacks products from time to time to offer better choices to the consumers and (iii) promoting its products through e-commerce and new retail channels. The Directors believe that these measures will bring positive impacts to the Group’s financial performance in the longer run. While the near-term outlook for the snacks products sector of the PRC remains challenging, the country’s ongoing economic reforms and the continuous expansion of middle and upper class population will propel growth in retail consumption in the long run. Therefore, the Directors are cautiously optimistic to the long term development of the Group’s business.

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