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Public company info - Baguio Green Group Ltd. , 01397.HK
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Baguio Green Group Ltd., 01397.HK - Company Profile
Chairman Ng Wing Hong
Share Issued (share) 415,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Other Support Services
Corporate Profile Business Summary: The Group is mainly engaged in providing professional cleaning, landscaping, pest management and waste management and recycling services. Performance for the year: For the Year, the Group’s revenue was approximately HK$1,397.5 million, indicating a slight decrease of approximately 2.2% from approximately HK$1,429.5 million for 2018. Gross profit decreased by approximately 24.2% to approximately HK$70.5 million (2018: HK$92.9 million)。 The Group’s profit attributable to shareholders of the Company of approximately HK$17.9 million for the preceding year turned into a loss of approximately HK$11.0 million for the Year, changing from net profit margin of approximately 1.2% for the preceding year to net loss margin of approximately 0.8%. Loss per share was HK2.7 cents (2018: Earning per share HK4.3 cents). Business Review: The past Year has been challenging, with almost all business sectors affected by unexpected local and global social volatility. As such, The Hong Kong economy contracted by 1.2% in 2019, marking the first year of decline since 2009. Subject to high uncertainties, including the threat of a novel coronavirus epidemic, US-China trade relations and the local social situation, the near-term outlook for the Hong Kong economy has turned even more austere. This, however, has not and will not deter Baguio from its commitment to exploring opportunities in the recycling business and moving forward from a recyclable waste collector to one of the key players in processing recyclable wastes in Hong Kong. The waste recycling industry has always been the group’s primary and core development focus. As the Government boosts its support for waste reduction in Hong Kong, various new support measures and subsidies have been announced to address the immediate needs of the industry, resulting in the opening of more tenders for pilot schemes aimed at plastics waste collection and recycling. Baguio achieved a big milestone in 2019 when it joined with ALBA and Swire to form a JV to operate the first food-grade ready plastics recycling facility in Hong Kong. Located at EcoPark, the facility is expected to commence operations in the second half of 2020. Once completed, the facility will be able to process and recycle 35,000 tonnes of post-consumer PET and HDPE annually at a rate of 100 tonnes of plastics per day. Aiming to prolong the life of reusable plastics, the three-stage processing will turn plastic waste into flakes and pellets, which can be reused as raw materials for new, highquality consumable or industrial products. While competition remains intense in the cleaning business, the HKSAR Government launched the new marking scheme on tenders in April 2019 to encourage the raising of standard wages for frontline workers. This has changed the competitive landscape of the cleaning business. Though increased labour costs have a significant effect on costs per contract, the new marking scheme benefits large-scale companies with adequate financial resources. Baguio will leverage the new scheme to be more aggressive on tenders and expand the group’s customer base. Furthermore, to mitigate its exposure to heightened competition, Baguio will be more selective in the bidding process and focus only on high margin projects, including those which require advanced skill sets or good governance such as airports, aircraft and public utilities. In terms of the group’s landscaping business, Baguio has increased investment and manpower on seedling production with a strategic goal of expanding into large-scale landscaping projects. For the past years there have been significant changes in requirements for better living environments, along with improving living standards, in Hong Kong and the PRC. Following the introduction of tougher greening policies by the HKSAR Government, the Group is expecting strong demand for quality landscaping in the coming years. The landscaping business will become an important growth driver for the Group. Since 2005 the Group has also been one of the largest pest control service providers in Hong Kong, boasting a full spectrum of services, including pest investigation and inspection, species identification, pest control and monitoring. The pest control business aligns closely with the Group’s Go-Green policy, and Baguio is dedicated to bettering the lives of people and creating a green and healthy environment for the community. Prospects: The HKSAR Government’s determination to create a greener community was highlighted in its 2020-21 Budget, which introduced a plan to set up a HK$200 million Green Tech Fund to support research and development, speed up the deployment of green technologies, finance the implementation of a HK$300 million scheme to recycle waste paper and issue green bonds totalling HK$66 billion over the next five years. As the Government and the community increasingly factor in environmental concerns in overall governance, business models and lifestyle, green industry is presented a huge opportunity to deliver social goals on sustainable development. Recognising Baguio’s vital role in delivering in this space, the Group is putting in place strategic action plans and catalyzing industry innovations to align with a green future. In this regard, the Group is reviewing different channels for internal adjustment and to boost efficiency, including resource optimization and implementing plans to devote more resources on technology upgrades and deploying ERP systems. To further complement the group’s recycling business in Hong Kong, the Group is designing a one-stop smartphone application (the “APP”) aimed at better connecting the public with nearby recycling collection sites. The Group will promote community recycling by making collector information more accessible. A loyalty programme will be put in place to reward users for every item recycled in order to not only promote recycling among the community, but to broaden the group’s source of recyclables. The APP is currently in the final stages of development and will be officially launched soon. In addition to the opening of the group’s first JV food grade plastic recycling facility later this year, more resources will be invested in the collection of glass containers and plastic containers in order to further promote the local recycling business chain in Hong Kong. Baguio has a longstanding commitment to delivering quality environmental services and is proud of the progress the group have achieved in keeping the group’s community clean and sustainable. The Group will continue to adopt a visionary, proactive, pragmatic and action-oriented approach in order to explore different waste-recycling and processing business opportunities and assist Hong Kong in solving its waste problem. As a leader in the green industry in Hong Kong, the group also strive for satisfactory returns for the group’s shareholders.

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