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Public company info - Better Home Group Holdings Co. Limited , 01491.HK
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Better Home Group Holdings Co. Limited, 01491.HK - Company Profile
Chairman Zhu Boming
Share Issued (share) 500,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry -
Corporate Profile Business Summary: The group is principally engaged in the design, development, manufacture and sale of a wide variety. Performance for the year: The group’s revenue increased from approximately RMB328.7 million for the year ended 31 December 2018 to approximately RMB336.6 million for the year ended 31 December 2019 and further to approximately RMB384.7 million for the year ended 31 December 2020. the group’s revenue increased from approximately RMB112.8 million for the four months ended 30 April 2020 to approximately RMB126.2 million for the four months ended 30 April 2021. Business Review The group is principally engaged in the design, development, manufacture and sale of a wide variety of (i) laundry products; (ii) household cleaning tools; and (iii) kitchen gadgets, which are common items of household necessity products. the group’s products are primarily manufactured and sold to international brand owners or their authorised agents on an OEM or ODM basis for resale as wholesaler or retailer in overseas markets. According to the CIC Report, the group ranked second in the drying rack manufacturing market in the PRC in terms of export revenue in 2020, with a market share of approximately 6.6%. The group have a stable customer base. As at 30 April 2021, the group’s business relationship with the group’s five largest customers ranged from approximately seven to ten years. For the years ended 31 December 2018, 2019 and 2020 and the four months ended 30 April 2021, approximately 77.9%, 76.9%, 80.5% and 72.9% of the group’s total revenue was generated from the group’s five largest customers, respectively, and approximately 42.2%, 41.4%, 41.8% and 26.0%, respectively was generated from the group’s largest customer, namely, the Bradshaw Group, a group of companies headquartered in the United States principally engaged in the sales and distribution of cleaning accessories, laundry dryers and home products of its own brands and other well-known brands. Leveraging the group’s substantial industrial experience in the provision of household necessity products to the group’s OEM or ODM customers, coupled with the group’s capability to understand their needs in developing their products, the group’s Directors believe that The group is well positioned to build and strengthen long-term cooperation with the group’s major customers and expand the group’s customer base in the future. As at 30 April 2021, the group offered more than 1,800 types of household necessity products with different functions and features. The group manufacture the group’s products at the group’s self-owned Huzhou Production Plant, which has a gross floor area of approximately 58,441 sq.m. and is equipped with production machinery and equipment such as plastic injection machines, powder coating lines, brush filling machines, washing line extruding lines and a variety of ancillary equipment. Being an OEM or ODM supplier of household necessity products for various well-established international brands, The group is committed to the quality and safety of the group’s products and have adopted a comprehensive quality control system to closely monitor the production process of the group’s products in order to meet the stringent requirements and standard of the group’s customers on product quality. the group’s major operating subsidiary, namely, BHP Zhejiang, has been accredited with ISO9001 Quality Management System since 2015. The group is also accredited with, ISO14001 Environmental Management System, OHSAS18001/ISO45001 Occupational Health and Safety and BSCI ethical audit since 2015. The major raw materials used in the production of the group’s products are polypropylene resin and steel. All the group’s five largest suppliers during the Track Record Period were located in the PRC. For the years ended 31 December 2018, 2019 and 2020 and the four months ended 30 April 2021, the amount of purchases from the group’s five largest suppliers amounted to approximately RMB63.0 million, RMB61.6 million, RMB61.2 million and RMB26.4 million, respectively, representing approximately 35.1%, 32.5%, 29.3% and 33.2%, respectively of the group’s total purchases during the corresponding years. Despite (i) the outbreak of COVID-19 in the PRC since December 2019 which had led to temporary suspension of the group’s operation and production from 30 January 2020 to 10 February 2020 inclusive and temporary disruption on the supply of raw materials to the group’s production; and (ii) the recent widespread of COVID-19 to the countries to which the group’s products are delivered, the group’s Directors are of the view that the impact of the outbreak of COVID-19 on the group’s Group’s business operations and financial conditions is only temporary and not long-term. Prospects: The group’s goal is to achieve sustainable growth in the group’s current business and strengthen the group’s production capacity to secure more business opportunities by implementing the following business strategies; (i) expand the group’s production capacity by establishing the New Production Plant; (ii) enhance the production efficiency of the group’s Huzhou Production Plant; (iii) develop an integrated smart manufacturing system to ensure effective execution of the group’s manufacturing process and enhance the group’s production efficiency; (iv) expand the group’s sales and marketing network; and (v) further enhance the group’s product design and development capabilities.

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