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Public company info - Yuk Wing Group Holdings Limited , 01536.HK

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Yuk Wing Group Holdings Limited, 01536.HK - Company Profile
Chairman Leung Choi Chan
Share Issued (share) 380,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Machinery & Equipment
Corporate Profile Business Summary: The group is the leading manufacturer and supplier of DTH rockdrilling tools in Hong Kong. Performance for the year: The Group’s revenue decreased by approximately HK$15.0 million, or 10.6%, to approximately HK$126.7 million for the Year, from approximately HK$141.7 million for the year ended March 31, 2016. The group's gross profit for the years ended March 31, 2016 and 2017 were approximately HK$63.2 million and approximately HK$57.9 million , respectively. The Group recorded a net profit of approximately HK$2.8 million for the Year as compared to the net profit of approximately HK$35.3 million for the year ended March 31, 2016. Business Review: Manufacturing and Trading of DTH Rockdrilling Tools The Group is principally engaged in the manufacturing and trading of DTH rockdrilling tools. The group's self-designed and manufactured DTH rockdrilling tools can be categorised into the following main categories, namely DTH hammers, casing systems (comprising driver bits and casing bits), and other miscellaneous products including button bits and bit openers, as well as the group's newly developed products, drill pipes, cluster drills and casing tubes. Revenue from the manufacturing and trading of DTH rockdrilling tools contributed to approximately 68.5% of the total revenue during the Year (2016: approximately 79.2%). Trading of Piling and Drilling Machineries and Rockdrilling Equipment The Group is also engaged in the trading of piling and drilling machineries and rockdrilling equipment to the group's customers as part of the group's technical rockdrilling solutions. Revenue from the trading of piling and drilling machineries, and rockdrilling equipment, contributed to approximately 20.0% of the total revenue during the Year (2016: approximately 10.8%) and approximately 11.5% of the total revenue during the Year (2016: approximately 10.0%), respectively. Prospects: The Group is a leading manufacturer and supplier of DTH rockdrilling tools in Hong Kong. The group also supply piling and drilling machineries and rockdrilling equipment sourced from external suppliers, and provide technical rockdrilling solutions to the group's customers with a variety of rockdrilling needs. The year 2017 is the first year that the shares of the Company are listed on the Stock Exchange. The successful listing has not only strengthened the shareholders base of the Group, but also further enhanced the Group’s financing capability and increased its brand awareness and reputation. During the Year, the Group continued to steadily develop its various business segments. However, for Hong Kong, the Group’s major market, the market environment has been challenging in recent months due to the delay in the funding approval process, as well as the increased uncertainties in obtaining approvals for public works by the Legislative Council. From the information published by the government, in the 2016-17 legislative session, it is estimated that the government needed to seek funding approval of more than HK$90 billion from the Finance Committee of Legislative Council for the new works projects. However, as the Legislative Council has been very slow in its progress of approving funding proposals for works projects, so far there is only one new works project that has obtained funding approval totaling about HK$1.1 billion up to March 2017. This has impacted the Group’s revenue and profitability for the Year. Although the planned public works from the relevant government departments continue to be delayed pending approval from the Legislative Council, the recent approvals for some of the public works projects showed signs of improvement. Moreover, as stated in the 2017 Policy Address, the government has been increasing land supply and addressing the supply and demand imbalance by implementing short, medium and long-term measures. It is anticipated that more construction projects will be approved and commenced by the government and the private sector in the coming years. The Macau market has seen signs of improvement during the Year. The Group will continue to capture the business opportunities as and when they arise. The Group has been continuing its efforts to strengthen and extend its presence in several key international markets, including Scandinavia, Japan and India. Overall, the Group remains positive towards the future of the construction market and the business of the Group in Hong Kong and Macau, and will continue its efforts to strengthen and extend its presence in the overseas markets.

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