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Public company info - Gold-Finance Holdings Limited , 01462.HK
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Gold-Finance Holdings Limited, 01462.HK - Company Profile
Chairman Wei Jie
Share Issued (share) 4,038,000,000
Par Currency Hong Kong Dollar
Par Value 0.001
Industry Construction & Decoration
Corporate Profile Business Summary: The Group is principally engaged in the provision of Building Services in Hong Kong. mainly related to (i) electrical installation works; (ii) air-conditioning installation works; and (iii) fire services installation works. Performance for the year: The Group’s revenue for the Reporting Period was approximately HK$740.0 million, representing an increase of approximately 25.0% from approximately HK$592.0 million for the previous financial year. During the Reporting Period, the Group recorded a gross profit of approximately HK$32.7 million. The gross profit margin decreased from approximately 7.6% for the year ended 31 March 2016 to approximately 4.4% for the Reporting Period. For the Reporting Period, the Group recorded net profit of approximately HK$369,000, a decrease of approximately HK$18.9 million as compared to the net profit of approximately HK$19.3 million for the previous financial year. Business Review: Provision of Building Services The engineering works undertaken by the Group are mainly related to (i) electrical installation works; (ii) air- conditioning installation works; and (iii) fire services installation works. The Group undertakes engineering projects in both public and private sectors, which are mainly building related projects including (i) new building development; and (ii) existing building renovation. All of the Group’s contract revenue were derived in Hong Kong. As at 31 March 2017, the Group had 60 one-off and retainer projects in progress, with a total estimated outstanding contract sum and work order value of approximately HK$960 million. The Group’s building services business is undertaken by an operating subsidiary, Fungs E & M, a building services engineering specialist in various building works in both public and private sectors in Hong Kong. Provision of Investment and Asset Management Services As referred to in the Company’s announcement dated 16 October 2016, 18 October 2016, 11 January 2017 and 13 June 2017 and circular dated 18 November 2016, the Group has expanded its business portfolio into the areas of investment and asset management with focuses on government related infrastructure projects through Jin Zhong Xing, a company engages in investment management and consulting (save for securities and futures) and with the required licence for fund management activities, investing into an investment fund which focuses on local governmental infrastructure projects in the PRC; and also establishing and operating a total of eight private equity funds (the “Funds”) which target to primarily invest in the infrastructure projects with aggregate target fund size of the Funds expected to be approximately RMB8.6 billion. As of 31 March 2017, the Funds had asset under management amounted to approximately RMB91.5 million. As at 7 June 2017 the total size of the Funds amounted to approximately RMB2.5 billion. Business overview of investment and asset management The business in investment and asset management involves the provision of tailor-made wealth management solutions for high net-worth and mass affluent individuals and their affiliated enterprises in the PRC (the “Investors“), with focuses primarily in Zhejiang Province. Prospects: According to the Hong Kong 2017-18 Budget, the Hong Kong Government will allocate approximately HK$89 billion to capital works. With a number of projects at their construction peaks, the estimated annual capital works expenditure is expected to remain at relatively high levels in the next few years. Moreover, the building services industry is steering towards designing and installing more complex and more energy efficient systems for buildings in Hong Kong. The public’s increasing awareness of energy efficiency and indoor air quality and sustainability have triggered contractors in the building services industry to construct better heating, ventilation and air-conditioning systems. Therefore, the design and installation work processes for intelligent buildings are more complicated. In view of the aforesaid increasing public expenditure on capital works and the market development, the directors of the Company (the “Directors”) believe that there will be more opportunities for the group's building services business in both private and public sectors in the future. The PRC government has vigorously promoted the implementation of local infrastructure projects in the form of PPP since 2013 through the promulgation of a number of policies such as 《國務院關於創新重點領域投融資機制鼓勵社會投 資的指導意見》( 國發 [2014]60 號 ) (The State Council’s Investment and Financing Mechanism for Key Innovation Fields* (Guofa [2014] No. 60)), 《中共中央國務院關於深化投融資體制改革的意見》( 中發 [2016]18 號 ) (The Opinion of the Central Committee of the Communist Party and the State Council on Deepening the Reform of Capital System* (Zhongfa [2016] No. 18)) and 《傳統基礎設施領域實施政府和社會資本合作項目工作導則》( 發改投資 [2016]2231 號 ) (The Guidelines for the Implementation of Government and Social Capital Cooperation Projects in the Field of Traditional Infrastructure* (Fagai Touzi [2016] No. 2231)). Besides the promulgation of favourable policies, the PRC government has also increased the number of infrastructure projects in the recent years. In the end of 2014, the Finance Department of the PRC (the “Finance Department”) released the first batch of PPP demonstration projects, which contained a total of 30 projects with an aggregate investment value of approximately RMB180 billion. In September 2015, the Finance Department released the second batch of PPP demonstration projects which contained a total of 206 projects with an aggregate investment value of approximately RMB659 billion. In October 2016, the Finance Department released the third batch of PPP demonstration projects which contained a total of 516 projects with an aggregate investment value of approximately RMB1,170.8 billion. The number of projects and aggregate investment value for the third batch are significantly higher than those for the first batch and second batch. In view of the foregoing industry outlook/market trend, the Board is of the view that the future prospect of its investment and asset management business is promising. The PRC government has promulgated a number of favourable policies in promoting the development of unique towns throughout the PRC since February 2016. In particular, according to the 關於深入推進新型城 鎮化建設的若干意見 ( 國法 2016(8 號 )) Opinion on Deepening the Construction of New Urbanisation* (Guofa 2016 (No. 8)) issued by the State Council of the PRC in February 2016, the development of unique towns combining leisure tourism, trade, folk culture heritage, science and technology and advanced manufacturing is encouraged to be accelerated to promote agricultural modernisation and town urbanisation. Further, pursuant to the 關於開展特色小鎮培育工作的通知 ( 建村 2016(147 號 )) Notice on Cultivation of Unique Towns* (Jiancun 2016 (No. 147)) issued by the National Development and Reform Commission of the PRC in July 2016, a target to develop approximately 1,000 unique towns throughout the PRC by 2020 was set. In addition, many provincial governments have implemented specific policies to provide developers of unique towns certain benefits including subsidies, financial support and credit support. In view of the aforesaid favourable PRC government policies, together with the capabilities and experience in property investment and development in the PRC possessed by certain members of the Board and the parent company, the directors of the Company (the “Directors“) believe that the expansion into the property investment and development business by the Group represents an excellent opportunity for the Group to achieve sustainable long term growth.

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