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Public company info - Shun Wo Group Holdings Limited , 01591.HK
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Shun Wo Group Holdings Limited, 01591.HK - Company Profile
Chairman WONG Yan Hung
Share Issued (share) 4,000,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Construction & Decoration
Corporate Profile Business Summary: The Group is principally engaged in undertaking foundation works in Hong Kong. Performance for the year: For the Review Year, the revenue of the Group has increased by approximately HK$10.0 million, or approximately 7.4% compared to the corresponding year ended 31 March 2020, from approximately HK$134.4 million to approximately HK$144.4 million. The Group reported a net loss of approximately HK$6.1 million compared to a net loss of approximately HK$33.1 million to the corresponding year ended 31 March 2020. Business Review: The Group has more than 20 years history in Hong Kong’s foundation industry, specialising in excavation and lateral support works, socketed H-piling and mini-piling works and pile caps construction works. Hop Kee Construction Company Limited, the principal operating subsidiary, is registered under the Buildings Ordinance as a Registered Specialist Contractor under the sub-register of “Foundation Works” category since December 2009. As at 31 March 2021, the Group had a total of 10 ongoing projects (including projects that have commenced but not completed as well as projects that have been awarded but not yet commenced) and the original contract sum of these projects are approximately HK$200.6 million. Subsequent to 31 March 2021 and up to the date of this announcement, two more new projects with the original contract sum of approximately HK$92.3 million were awarded to the Group. Although the challenging business operating environment of the foundation industry was further exacerbated, the Group recorded increase in revenue, improvement in gross margin and reduced its net loss to HK$6.1 million during the Review Year. Prospects: Looking forward, the foundation industry is expected to be full of challenges and uncertainties. The persisted poor social atmosphere in Hong Kong as well as the keen competition, coupled with the outbreak of the COVID-19 pandemic will have impacts on the foundation industry and the impact and pressure brought by the COVID-19 pandemic are yet to be alleviated and its effects are difficult to estimate. These negative impacts will not be disappeared in a short period of time and the market recovery will be a long path. In such challenging times, the management is mindful of the uncertainties and staying cautious. The Group is also flexibly adjusting its competitive tender pricing policy and stringent control over the production costs in order to achieve reasonable projects’ gross margin. On the whole, the Group will continue to strengthen its market positions, enhance the Group’s competitive strengths and remain positive about the future.

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