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Public company info - AKM Industrial Co. Ltd. , 01639.HK

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AKM Industrial Co. Ltd., 01639.HK - Company Profile
Chairman Xiong Zheng Feng
Share Issued (share) 1,538,000,000
Par Currency
Par Value 0.0
Industry Industrial Goods
Corporate Profile Business Summary: The Group is principally engaged in the manufacturing and sale of FPC, flexible packaging substrates and their respective components, which are used in electronic products. Performance for the year: The Group is principally engaged in the businesses of the manufacture and sales of FPC and flexible packaging substrates (including components), which are used in electronic products. For the year ended 31 December 2020, the turnover of the Group amounted to approximately HK$1,676,423,000, representing an increase of approximately 14.54% as compared to approximately HK$1,463,630,000 for 2019. The increase in turnover was mainly due to the increase in orders from major customers. For the year ended 31 December 2020, the gross profit of the Group was approximately HK$247,139,000, representing an increase of approximately 18.43% as compared to approximately HK$208,687,000 for 2019. In 2020, the profit attributable to the owners of the Company amounted to approximately HK$119,351,000, representing an increase of approximately 1.39% as compared to approximately HK$117,711,000 in 2019. Despite there was a notable increase in revenue of approximately 14.54% during the year, the profit was only slightly increased mainly due to the impact of the substantial increase in research and development expenses. During the year under review, the turnover of the Group’s circuit boards and components business was approximately HK$1,651,223,000, representing an increase of approximately 14.00% as compared with approximately HK$1,448,487,000 of last year. The gross profit margin increased to approximately 14.88% (corresponding period in 2019: approximately 14.22%). During the year under review, the turnover of the “other” business of the Group amounted to approximately HK$25,200,000, which was mainly derived from the business of sourcing and sales of electronic components, and accounted for approximately 1.50% of the total sales volume of the Group. During the year under review, despite being influenced by the global spread of the novel coronavirus pandemic, decline of global economy and significant fluctuation of the electronic industry, the Group continued to adhere to the strategy of “developing major customers” and strengthened customer development and customer services, and managed to maintain an upward trend in turnover. During the year under review, supply of FPC and flexible packaging substrates for the manufacture of smartphones and its modules, consumer electronics, new energy car cells and automotive electronics continued to be the main development directions of the Group. The Group also achieved major developments in the supply of the Group’s products to the customers manufacturing wearable products, optical camera modules and display modules. By proactively improving the Group’s technical capabilities and standards, the Group enhanced the production and sales volume and strengthened the cooperation between the upstream and downstream, and captured opportunities to achieve better operating results. During the year under review, the research and development expenses of the Group amounted to approximately HK$83,153,000, representing an increase of approximately 44.99% as compared to approximately HK$57,352,000 of last year. The increase in research and development expenses was mainly attributable to the increase in investments in new products, research and development of new technologies, new products and new production techniques by the Group. During the year under review, the Group invested substantial research and development resources in high frequency and high speed flexible printed circuit and module products, and buried/blind via High Density Interconnector products. The Group will continue to increase investment in research and development in order to continuously uplift technology standard and technical capability and conducting research and development in new materials, new products and new production techniques. As disclosed in the Company’s circular dated 20 December 2017, the Group intended to establish an intelligent manufacturing factory with ancillary facilities in the existing factory of the Group in Nansha, Guangdong, PRC for assembling new application modules of FPC. During the year under review, production had commenced in the relevant facilities. During the year under review, in order to seize the development opportunity in the field of new energy cars, AKM Panyu (a wholly-owned subsidiary of the Company) jointly established 廣州安博新能源科技有限公司(transliteration “Guangzhou Anbo New Energy Technology Co. Ltd.”) with a cooperation partner. The joint venture, which is owned as to 55% by AKM Panyu, specializes in the development of new energy car electronics module products that is expected to facilitate market exploration and industrial upgrade in the industrial electronics field by the Group. Prospects: The Group has become an authorised supplier for a number of world-renowned high-technology companies. To meet the requirements of the global supply chain system of such customers, the Group has established two production bases (Southern China Guangzhou Factory and Eastern China Suzhou Factory) and a new overseas factory in India. The factory in India merely conducts post-assembly operations including surface mounting and component assembling for customers and has commenced operation. The Group is also planning to invest in another new overseas factory in Vietnam to serve international customers with production bases in Vietnam. The Group has also established sales centre, research and development centre, supply chain management etc. which are independent from the manufacturing system to cater for the comprehensive needs of the Group’s customers. Under the guidance of the strategy of “developing major customers” and with the gradual uplift of the Group’s technology, production, quality management, supply chain management and information technology capabilities, the Group’s capability to satisfy the “one-stop demand” of such customers has also been largely improved. The Group aims at developing into an important international supplier of circuit boards and components and becoming the industry leader in the PRC. Due to the global spread of the novel coronavirus pandemic may result in a prolonged pandemic, the increasing pressure from economic downturn and the significant fluctuation in the electronic industry, the Group remains cautious about the future and will pay close attention to the changes in the economy, industry and major customers to evaluate its risk exposures and the impacts on orders and supply chain. Meanwhile, the Group will enhance its internal capacity, so that, (i) by adhering to the strategy of “developing major customers” to strengthen efforts in exploring and serving major customers in key markets and emerging sectors; (ii) by strengthening technology research and development and improving intelligent manufacturing capabilities, to improve the technical standard of products and the capability for mass production of high-end products; (iii) by paying close attention to the safety of supply chain and strengthening the integration of upstream and downstream resources; and (iv) by strengthening the localization service capabilities for overseas market and improving the risk resistance capabilities, the Group will strive to turn risks into opportunities and continuously improve its operating results. The management of the Group is of the opinion that, following the popularity in application of electronic products e.g. the rapid development in electronic products for new energy cars and wearable products, the electronic industry will manage to maintain a growth. Upon overcoming the adverse effects of the novel coronavirus, the circuit boards and components business is expected to maintain its continuous growth in the foreseeable future. The Group will continue to invest in circuit board business and adhere to the strategy of “developing major customers”, continuously uplift the technology capabilities of products, pay full attention to the market opportunities in new application fields, and strengthen the strategic cooperation with relevant shareholders and AKMMeadville Electronics (Xiamen) Co., Ltd(安捷利美維電子(廈門)有限責任公司). By following development strategies such as strengthening integration of upstream and downstream resources, and enlarging economic scale to promote operational efficiency, the Group will be able to strengthen its core capabilities, overcome various difficulties and keep on improving its operating results, so as to present satisfactory results and bring favourable returns to its shareholders.

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