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Public company info - Touyun Biotech Group Limited , 01332.HK
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Touyun Biotech Group Limited, 01332.HK - Company Profile
Chairman Wang Liang
Share Issued (share) 2,774,000,000
Par Currency Hong Kong Dollar
Par Value 0.04
Industry Printing, Publishing & Packaging
Corporate Profile Business Summary: The Group is principally engaged in the (i) provision of QR codes on product packaging and solutions and online advertising display services; (ii) the manufacture and sale of packaging products; and (iii) investments and trading in securities and money lending. Performance for the year: For the year ended 31 December 2019, the Group recorded revenue of approximately HK$342.7 million (2018: HK$348.8 million), representing a decrease of approximately 1.7% as compared to the last year. The loss for the year ended 31 December 2019 was HK$199.1 million (2018: HK$254.0 million), represents a decrease of 21.6% as compared to financial year 2018. Business Review： For the year ended 31 December 2019, the Group recorded revenue of approximately HK$342.7 million (2018: HK$348.8 million), representing a decrease of approximately 1.7% as compared to the last year. The decrease in turnover was primarily attributable to the decrease in revenue from packaging products business and QR code business, which was due to the contraction of sales orders in 2019. The loss for the year ended 31 December 2019 was HK$199.1 million (2018: HK$254.0 million), represents a decrease of 21.6% as compared to financial year 2018. Revenue from QR code business was HK$69.7 million (2018: HK$73.4 million) and its segment loss was HK$199.7 million (2018: HK$195.7 million) during the year ended 31 December 2019. The segment loss of QR code business for the year ended 31 December 2019 was slightly increased by 2% when compared with last year, it was primarily attributable to the increase in impairment loss on goodwill and set off by the decrease in impairment loss of property, plant and equipment and depreciation of property, plant and equipment and control measurements in operating cost. Included in segment loss were impairment loss of goodwill amounted to HK$164.7 million recognised during the year ended 31 December 2019 (2018: HK$37.0 million). The impairment loss on goodwill were related to the goodwill allocated to QR code cash generating units (the “QR code CGUs”). The Group’s QR code businesses face various challenges throughout the year, including the increasing competitors in the market, the lower entry barrier into the QR code market, and the keen competitions in the market. In additions, the COVID-19 impact various business sectors in the PRC, including not only the Group’s customers engaged in consumer goods business industry but also the marco economics environment in PRC. The aggregated recoverable amount of the group of QR Code CGUs was calculated based on value in use method that is lower than the carrying value of the net assets of the group of QR Code CGUs and the goodwill allocated to the group of QR Code CGUs. In view of this, the Group recognized impairment loss on goodwill on QR code of HK$164.7 million during the year (2018: HK$37.0 million). The packaging products business reported in a revenue of HK$260.3 million for the year ended 31 December 2019 (2018: HK$276.2 million), representing a decrease of 5.8% as compared with last year. The decrease of revenue was largely due to the contraction of sales orders during 2019. A segment profit of HK$20.5 million was recorded during the year ended 31 December 2019 (2018: HK$8.4 million), representing an increase of 144.0% as compared with last year and such increase in segment profit was due to the control measurements in operating cost. During the year, the Group recorded fair value gain of HK$10.1 million on financial assets at fair value through profit or loss held for trading, compared to the last year amounted to a fair value loss of HK$1.3 million. Fair value loss of financial assets at fair value through profit or loss not held for trading amounting to HK$43.0 million was recognised during the year ended 31 December 2019 (2018: HK$12.8 million), it is largely due to the asset value of the Group’s unlisted investments decreased during the year. Prospects: In 2019, the Group is continuously focus on the business of QR codes business and packaging product business. The Group will further explore opportunities to amalgamate the business so as to provide a wide range of integrated services to meet the increasing needs of the customers.

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