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Public company info - Q P Group Holdings Limited , 01412.HK
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Q P Group Holdings Limited, 01412.HK - Company Profile
Chairman CHENG Wan Wai
Share Issued (share) 532,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Printing, Publishing & Packaging
Corporate Profile Business Summary: The group is a paper product manufacturing and printing services provider with a portfolio of diversified products offering value-adding and customised product engineering services and printing solutions to the group’s customers. Performance for the year: The total revenue of the Group’s Group increased by approximately HK$30.6 million, or 2.6%, to approximately HK$1,193.6 million in FY2019 from approximately HK$1,163.0 million in FY2018. Business Review： The Group is a long-established paper product manufacturing and printing services provider headquartered in Hong Kong with the capability to offer value-adding and customised product engineering services and printing solutions to the Group’s customers for a wide spectrum of products. The Group have over 30 years of operating history, and have established stable business relationships with the Group’s major customers in the United States (the “U.S.”) and countries in Europe. The Group’s principal product categories are tabletop games, greeting cards, educational items and premium packaging. The Group’s products are sold to (i) OEM customers who generally order mass quantities for direct sales and distribution through their own sales network; and (ii) individual and corporate customers who generally order smaller quantities through the Group’s self-operated websites. The Group’s major OEM customers include an international greeting cards publisher, and multinational children educational products and toys brands. The Group operate two key production plants at Dongguan and Heshan in the Guangdong Province (being the “Dongguan Factory” and the “Heshan Factory”), and the Group manufacture the Group’s products mainly in the Group’s production facilities located in the People’s Republic of China (“PRC”). The Group outsource some of the Group’s production processes, including printing, diecutting and assembling, to the subcontractors approved by us if outsourcing will be cost-saving, or when outsourcing is needed because the Group’s production capacity has reached its peak. In early January 2019, the Group ceased the operation of the Group’s production plant at Tianjin, which had relatively low utilisation rates during the past few years. Since FY2019, the Group have engaged subcontractors in Vietnam to perform end-toend production of certain greeting cards products in order to diversify the Group’s operational risks. The Group are committed to maintaining high quality of the Group’s products. The Group have implemented quality assurance procedures which comprise quality assurance, quality engineering, as well as quality control. The Group have obtained certain patents in relation to production techniques developed by us to enhance the efficiency of the Group’s production processes. During the year under review, market volatility was brought about by the escalated trade conflicts between the PRC and the U.S. The customers were concerned about the ongoing trade conflicts with the PRC in the context of a slowing global economy. According to the notice published by the Federal Register of the U.S. on 18 December 2019, the products with an annual trade value of approximately US$300 billion on the fourth list of tariff items (the “Section 301 List 4”) on the second part of the List 4 products, which was scheduled to be effective on 15 December 2019, were suspended until further notice. Since a substantial portion of the Group’s products sold to the U.S. market is on the second part of the Section 301 List 4, the Group consider that there is no material adverse effect on both the Group’s Group’s business operation and financial results based on the latest development in the trade war. For FY2019, the Group’s revenue from the U.S. market continued to account for a substantial portion of the Group’s revenue and amounting to approximately HK$898.9 million, representing approximately 75.3% of the Group’s total revenue. The Group’s Group achieved a mild and healthy growth of total revenue despite the challenging environment during FY2019. The total revenue of the Group’s Group increased by approximately HK$30.6 million, or 2.6%, to approximately HK$1,193.6 million in FY2019 from approximately HK$1,163.0 million in FY2018. Revenue derived from the Group’s OEM sales accounted for approximately 92.3% and 91.3% of the Group’s revenue, respectively, while revenue derived from the Group’s websites accounted for approximately 7.7% and 8.7% of the Group’s revenue, respectively, for FY2018 and FY2019. In FY2019, the Group continued to maintain good business relationships with the Group’s major OEM customers, which comprise leading players in their respective market segments. The revenue derived from the OEM sales recorded a mild growth by approximately HK$16.1 million or 1.5% from approximately HK$1,074.0 million in FY2018 to approximately HK$1,090.1 million in FY2019. Such increment was mainly derived from the increase in sales orders placed by the Group’s largest customer who principally purchases greeting cards from us. The Group operate five major websites, namely www.makeplayingcards.com (“MPC”), www.boardgamesmaker.com, www.createjigsawpuzzles.com, www.printerstudio.com and www.gifthing.com, for the provision of personalised printing services. At the Group’s five major websites, the Group offer a variety of personalised products such as playing cards, board games, puzzles, baby keepsakes and different gift items to suit the need of both individual and corporate customers. During the year under review, the Group stepped up extra effort on expanding the Group’s customer base by enhancing the mobile platforms as well as launching new products and implementing marketing strategies in relation to the Group’s web sales business. The number of active registered user accounts, which refers to the number of registered user accounts with order(s) placed in the Group’s five major websites, increased by approximately 8.4% from approximately 32,200 in FY2018 to approximately 34,900 in FY2019. During the year under review, the Group continued to record sustainable and stable growth in revenue of the Group’s web sales business. The revenue derived from the web sales increased by approximately HK$14.5 million or 16.3% from approximately HK$89.0 million in FY2018 to approximately HK$103.5 million in FY2019. Such increment was mainly contributed by the Group’s website of MPC, which mainly offers personalised playing cards to the Group’s customers. Prospects: The Group believe the online market will keep thriving with stiff competition and infinite opportunities. Therefore, the Group see the Group’s online business as an important growth driver in the long run. The Group strive to continue to solidify the foundation of the Group’s self-developed-and-operated e-commerce websites and web-to-print system to underpin the future development and growth. Web development and enhancement will be relentless as the Group will develop websites in more language (such as French, Spanish and Japanese) to expand the Group’s customer base, enhance the mobile platforms to facilitate penetration of the mobile e-commerce market and add “dynamic size” functions for more product lines which allow more flexible customisation. Also, the Group will further promote and refine the “Marketplace” on the Group’s websites which is to achieve a win-win solution that customers can shop designs of products of various third-party designers who manage their own “shop” on the Group’s platform, and order the unique gift products from us. As the Group’s web-to-print system and smart operation continue to advance, the Group will attempt to apply the web-to-print mechanism to the Group’s OEM business which will reduce manual handling and lead time substantially with effective implementation at both ends of customers and us.

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