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Public company info - Yues International Holdings Group Limited , 01529.HK
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Yues International Holdings Group Limited, 01529.HK - Company Profile
Chairman Li Jianxin
Share Issued (share) 800,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Warehousing & Logistic Services
Corporate Profile Business Summary: The Group provides a wide range of logistics services to meet the needs of the Group's customers’ supply chains in the PRC, which include (i) transportation; (ii) warehousing; (iii) in-plant logistics; and (iv) customisation services (which consist mainly of labelling services and bundling services). Performance for the year: The consolidated revenue was approximately RMB209.8 million (2018: RMB211.3 million), representing a mild decrease of approximately RMB1.5 million or 0.7% as compared with the year ended 31 December 2018. Profit and total comprehensive income for the year was approximately RMB9.3 million (2018: approximately RMB22.2 million), representing a decrease of approximately RMB12.9 million as compared with the year ended 31 December 2018. The basic earnings per share of the Company was approximately RMB1.17 cents (2018: approximately RMB2.78 cents). Business Review The Group offers transportation services which primarily involve the delivery of the customers’ production materials, components and finished goods to their downstream clients, manufacturing plants and/or designated locations. The Group has five warehouses located in the Guangdong Province with a total gross floor area of approximately 50,000 square metres which offer warehousing services to customers. The Group’s in-plant logistics services cover the management of the movement of (i) production materials and components and work-in-progress to the production lines within the customers’ manufacturing plants; and (ii) finished goods out to their factory gate. The Group’s range of services gives it a competitive advantage over other logistics service providers in the PRC which offer only a limited range of services. With a proven track record of providing flexible, reliable and timely logistics services in the logistics industry, the Group has established a broad customer base comprising customers from various industries, including pharmaceutical, fast-moving consumer goods, packaging, health and beauty and other industries. The Group trusts that its ability to provide logistics services to customers for more than two decades would not only enable the Group to generate stable revenue, but also demonstrate its strength to perform logistics services at a high quality standard and build up its reputation in the logistics industry in the PRC. During the year under review, the Group secured new customers engaging in the food industry which helped the Group to further broaden its customer base. Since Listing, the Group has gradually carried out the implementation plans of those business objectives as set out in the prospectus of the Company dated 29 September 2017 (the “Prospectus”). In connection with the business objective of upgrading one of the warehouses to strengthen the provision of quality logistics services to the Group’s customers, the Group has completed initial upgrade works on the construction of infrastructure facilities and contracted with service providers for the design and installation of automated storage facilities and software systems enhancement in one of the warehouses. Preparation works for installation of the automated storage facilities and air-conditioning systems have been commenced since the first quarter of 2019. The installation of which has been completed, pending trial run. On expanding the existing in-plant logistics business in the North China and East China regions, the Group has participated in the tendering process of potential customers which include several large customers from various industries including beverage, textile and pharmaceutical businesses. The Group has also expanded its vehicle fleet by acquiring new trucks and employing additional drivers for its transportation business. In respect of enhancing sales and marketing effort, the Group has participated in some industry exhibitions and conferences and set up a sales and marketing department to oversee the Group’s existing and potential customer base as well as to capture additional business opportunities via visits to customers’ operation plants in both PRC and overseas. In late 2018, the Group set up a company in Egypt aiming for expansion of its logistics business overseas and currently, the Group offers domestic logistics management services and international freight forwarding agency services in Egypt. A comparison of the status of the implementation plans with the actual business progress is also provided in a later section of this announcement. The Group has successfully undergone the Transfer of Listing from GEM to the Main Board of the Stock Exchange on 19 December 2019, which marked a new milestone in the Company’s development. The Directors are confident that the Main Board trading platform will enhance the corporate profile and public recognition of the Group, which further enhance the business prospects of the Group, add to its competitive strengths and create long-term value to its shareholders. Prospects: In 2020, the Coronavirus Disease 2019 (COVID-19) (the “Epidemic”) outbreak has brought additional challenges in the Group’s operating environment in China. Due to the outbreak of the Epidemic across the mainland China, a number of provinces have taken various emergency public health measures and other actions to prevent the spread of the Epidemic, including imposing restriction on the resumption date of work after the Chinese New Year Holidays. As far as the Group’s businesses are concerned, the Epidemic has caused some operational delays to the Group’s customers’ businesses and in turn led to a lower demand for the Group's services including in-plant logistics, transportation and warehousing. The Group will continue to assess the impact of the Epidemic on the Group’s operations and financial performance and closely monitor the Group’s exposure to the risks and uncertainties in connection with the Epidemic on an ongoing basis. In addition, cost savings initiatives will be intensified in view of the challenging conditions. Looking forward, capitalising on the continued expansion and development of automated storage facilities and systems in the Group's warehouses, the Group is confident that it can maintain its competitiveness and strengthen its market position in the logistics industry in the PRC. The Group will continue to render high quality services to its existing customers as well as actively solicit new customers. Apart from having participated in the tenders for provision of in-plant logistics services, the Group has also currently participated in the tenders of some potential large-scale customers from the food and beverage businesses, hoping to generate further revenue for the Group’s transportation service and warehousing service segments. Moreover, the Group aims to fully leverage the strengths of the company in Egypt to provide freight forwarding agency services to more Chinese enterprises in the region. The Group also expects to actively diversify the logistics services to a broader spectrum of industries, which in anticipation of any potential change in the customers’ operation demand for logistics services, the Group will also actively consider to explore business opportunities to accommodate their needs.

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