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Public company info - Cirtek Holdings Limited , 01433.HK
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Cirtek Holdings Limited, 01433.HK - Company Profile
Chairman Barry Chan
Share Issued (share) 2,000,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Apparel
Corporate Profile Business Summary: The group principally manufacture and sell apparel labels and trim products, which are largely accessories attached to apparel products, such as hang tags, woven labels, printed labels and heat transfer products. Performance for the year: The Group’s revenue decreased by approximately HK$18.9 million to approximately HK$352.9 million for the year ended 31 December 2019. Gross profit increased by approximately HK$12.4 million to approximately HK$174.8 million for the year ended 31 December 2019. Basic earnings per share was HK$1.69 cents (2018: HK$2.13 cents). Business Review: The Group is principally engaged in the manufacturing and sales of apparel labels and trim products, such as hang tags, woven labels, printed labels and heat transfer products. The Group has been serving worldwide trim and packaging needs and most of the Group’s products were ultimately used as hang tags and labels on finished garments of the garment brand companies. During the year, the revenue of the Group has decreased slightly by approximately 5.1% while comparing with corresponding period for 2018 due to the global economic downturn which led to lower demand of apparel related products. The Group will continue to seek opportunities to realise sustainable growth of its business and to increase its shareholders’ value by increasing its production capacity and customer base. Through the net proceeds of approximately HK$74.9 million raised under the Global Offering, the Group will be able to increase the production capacity in Bangladesh by the construction of a new production facility in Bangladesh (the “New Bangladesh Factory”) and the purchase of machinery for the New Bangladesh Factory. The expansion will help the Group capture business opportunities arose from the growth in the demand for apparel labels and trim products in Bangladesh. Prospects: On 12 March 2020 (the “Listing Date”), the Company has successfully completed its global offering (the “Global Offering”) and listed (the “Listing”) on the Stock Exchange. The Listing remarks a significant milestone to the business development of the Group. On behalf of the Board, I would like to express our sincerest gratitude to all our shareholders and business partners for the continuous support for the Company. Looking ahead to the current year, due to the outbreak of the novel coronavirus (“COVID-19”), the Group’s operational and financial performance, as well as the apparel labels and trim products manufacturing market in general are expected to be affected by the pandemic in the first half of 2020. However, we believe that there will still be a positive growth in the apparel labels and trim products manufacturing market for 2020, and the Group continues to overcome the challenges amidst changes in the global market environments by boosting our efficiency and increasing our profitability through more effective management across our technology, operations and marketing activities, and continued collaboration with our customers and suppliers. The Directors and staff of the Group would thrive their best on the continuous development of the Group’s business so as to create more benefits for the Shareholders and the society.

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