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Public company info - Jiangnan Group Ltd. , 01366.HK

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Jiangnan Group Ltd., 01366.HK - Company Profile
Chairman Chu Hui
Share Issued (share) 6,118,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Industrial Goods
Corporate Profile Business Summary: The Group are engaged in the manufacture of and trading in wires and cables. Performance for the year: Turnover decreased by approximately 8.2% to approximately RMB13,335.2 million (2019: RMB14,524.2 million) Profit for the year decreased by approximately 55.8% to approximately RMB169.5 million (2019: RMB383.2 million) Basic earnings per share decreased by approximately 67.8% to RMB2.79 cents (2019: RMB8.66 cents) Business Review: In 2020, the Group recorded a turnover of approximately RMB13,335.2 million, representing a decrease of approximately 8.2% as compared with that in 2019. In order to maintain the Group’s competitiveness and enhance the Group’s productivity, the Group has continued to invest more than RMB50 million every year in machineries for upgrading current production lines and setting up new ones. In recent years, the Group continues to invest to increase its production capacities. To cope with the fierce market competition, in recent years the Group has been aiming at high-end market domestically and overseas, and has been deploying resources to accelerate research and development of new and innovative products, processes and technologies. In 2020, the Group has made remarkable achievements in the research and development of rail transit cables, mining cables, marine cables, energy-saving wires, fireresistant cables, military cables and other products. Among them, the research and development of military nuclear products has made substantial breakthroughs. In 2020, 13 new products passed the appraisal of scientific and technological achievements, 2 products were listed in the “New Technology and New Product Catalog for Key Promotion and Application in Jiangsu Province” (江蘇省重點推廣應用的新技術新產品目錄), the Group’s subway cable product was awarded the first batch of “Quality Products of Jiangsu” (江蘇精品) titles, and the power cable was certified as the national “Enterprise Standard Leader” (企業標 準領跑者). The Group also led the formulation of 2 group standards and participated in the formulation of 5 national and industry standards. In respect of the Group’s overseas business, the spread of the COVID-19 around the world and the deterioration of trading environment had an adverse impact on the Group’s overseas market business for the year under review. Although the domestic epidemic was basically under control and the Group was one of the first batch enterprises in the resumption of production and work, the global epidemic broke out seriously affected the Group’s products export. Sales to the Group’s long-term strategic customers has been affected resulting in the overseas turnover of the Group decreased by approximately 52.3% to approximately RMB168.9 million for the year under review (year ended 31 December 2019: RMB354.6 million). Prospects: In 2021, the Group will continue to be exposed to great financial pressures and challenges due to the global and domestic macroeconomic conditions. There are many uncertainties in the changes of the COVID-19 epidemic and the internal and external environment. Given China’s not yet solid economic foundation and the world’s complex and difficult economic situations amid an unstable and uneven recovery, various risks associated with the epidemic cannot be ignored. As China’s relationship with the United States and some other countries has been shifted from cooperating rivals to competing rivals, it is expected that their efforts to restrict and stifle China’s development will continue for a long time. The Chinese government’s policy of “housing for living, not for speculation”, control over state grid investment and production restriction and restructuring for the coal industry also have a certain impact on the existing market. The epidemic is still severe overseas. As at the date of this announcement, the cumulative number of confirmed cases of the COVID-19 worldwide had exceeded 100 million. Mutations in the COVID-19 virus may cause another surge in global cases and accelerate the spread of the epidemic, which will inevitably pose serious challenges to the global economy and affect the Group’s business in overseas markets. Despite all these, the foundation of the Chinese economy remains strong with a large and fastgrowing market of great potential. Great opportunities come with the government’s strategy of expanding domestic demand, important initiative to ensure “stability on the six fronts and security in the six areas”* (六穩六保) (referring to stability in employment, finance, foreign trade, foreign investment, domestic investment, and market expectations and security in safeguarding employment, people’s livelihoods, the development of market entities, food and energy security, the stable operation of industrial and supply chains, and the smooth functioning of society), new infrastructure construction as well as the implementation of the “One Belt One Road”* (一帶一路) initiative, the integration of the Yangtze River Delta and Pearl River Delta development and the construction of Xiong’an New Area and free trade zones. All these measures will create opportunities for the development of the Group in 2021 especially in the following aspects: 1、In 2021, China will accelerate the integration of Beijing-Tianjin-Hebei transportation and the construction of the comprehensive transportation system in the Xiong’an New Area, the construction of the comprehensive three-dimensional transportation corridor in the Yangtze River Economic Belt, the development of transportation in the Guangdong-Hong Kong-Macao Greater Bay Area, the high-quality integrated development of transportation in the Yangtze River Delta, the ecological protection and high-quality development of transportation in the Yellow River Basin and the development of transportation in a twocity economic circle in the Chengdu-Chongqing region. Around RMB2.4 trillion is expected to be invested in fixed assets in transportation throughout the year. 2、Mao Weiming, Chairman and Party Secretary of State Grid Corporation of China (“State Grid”), said in an interview with Xinwen Lianbo, a daily news programme produced by China Central Television (CCTV), that State Grid would continue to strengthen the construction of power grids to develop a modern power grid that is safe, reliable, green, smart, interconnected and with mutual benefits. The investment in power grids and related industries is expected to reach RMB6 trillion during the “14th Five-Year Plan” period. 3、In 2021, “new infrastructures” (which are principally focused in seven major sectors including 5G networks, ultra-high voltage, inter-city express railway and inner-city rail systems, charging poles for new energy automobiles, big data centres, artificial intelligence as well as industrial internet) will continue to be the driving force for economic growth. In terms of data centres, the total investment during 2020-2022 will amount to approximately RMB1.5 trillion. In terms of investment in industrial internet, the cumulative investment during 2020 to 2025 will reach around RMB650 billion. With respect to 5G networks, the cumulative investment from 2019 to 2026 will exceed RMB2.6 trillion. In the next three years, the investment in artificial intelligence will exceed RMB100 billion. As the market is full of opportunities, the Group will squeeze the opportunities for its development by improving its marketing quality, management, and service capabilities. The Group will focus on the following areas in its business operations in 2021: 1. the Group will adhere to focusing on marketing by sales personnel with the aid of internal sales channels, continue to update marketing strategy and concepts, and proactively integrate into the dual-cycle development strategy of marketing. The Group will explore deeper into existing mature markets with emphasis on key areas and core customer markets in order to develop the high-quality sales development by the way of targeting at high-end markets. 2. the Group will further intensify its efforts to tap into new markets. The Group will expand its customer’s base in second-tier and third-tier cities in China with urgent, high demand and great influence and pay attention to the development of remote markets. The Group will put an extra effort to develop international markets by exposure to the “One Belt One Road”* (一帶一路) initiative and participating in the supply of supporting facilities overseas. It will take the initiative to attend international exhibitions, where possible, to enhance its international exposure and reputation. 3. the Group will strive for excellence. It will effectively assess the overall quality of projects, fight against counterfeiting and faking of its brand products, strengthen efforts to collect loans in arrears in a faster way, do its best to avoid operating risks, and improve efficiency and quality. 4. the Group will intensify its efforts to train marketing managers and management team building, nurture talented employees, keep exploring new service models to customers, improve service standards to shorten response time and improve service quality. 5. the Group will computerize the operations and knowledge management of the Group holistically and promote safe production and green manufacturing to a new higher level. In 2021, the Group plans to install four more imported cross-linked cable production lines including two production lines for 35kV ultra-high-speed medium-voltage cross-linked cables, one production line for 110kV PP cables and one production line for 110kV crosslinked cables and import two German concentric stranding machines.

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