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Public company info - China Creative Global Holdings Limited , 01678.HK
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China Creative Global Holdings Limited, 01678.HK - Company Profile
Chairman Wu Ming Fat Simon
Share Issued (share) 2,170,000,000
Par Currency Hong Kong Dollar
Par Value 1.0E-4
Industry Furniture & Household Goods
Corporate Profile Business Summary: The Group manufactures and sells electric fireplaces, air purifiers, home decor products and humidifiers to the customers. Performance for the year: Revenue decreased by 24.5% from RMB152.5 million for the year ended 31 December 2018 to RMB115.2 million for the year ended 31 December 2019 Gross profit increased by 79.7% from RMB17.7 million for the year ended 31 December 2018 to RMB31.8 million for the year ended 31 December 2019, while gross profit margin increased from 11.6% to 27.6%. Loss for the year attributable to owners of the Company increased by 1,048.7% from RMB145.9 million for the year ended 31 December 2018 to RMB1,676.0 million for the year ended 31 December 2019. Basic loss per share increased from RMB7 cents per share for the year ended 31 December 2018 to RMB77 cents for the year ended 31 December 2019. Business Review： China Creative Global is principally engaged in the business of design, development, manufacture and sales of home decor products and electric fireplaces. The Group sells its products domestically in the PRC under its “Allen”(亞倫) brand and export its products on ODM/OEM basis to countries including the U.S., Germany, Canada, France and the U.K.. The revenue of the Group for the year ended 31 December 2019 decreased by 24.5% to RMB115.2 million from RMB152.5 million for the year ended 31 December 2018. The loss attributable to the equity holders of the Company was RMB1,676 million, representing an increase of 1,048.7% as compared to the loss of RMB145.9 million for the year ended 31 December 2018. This was mainly due to (1) increases in selling and distribution expenses, and administrative and other operating expenses; and (2) the net loss arising on deconsolidation of subsidiaries of RMB1,329.1 million. The Group’s products are under two major categories, namely (1) electric fireplaces and (2) home decor products. Revenue distribution by the two categories for the year ended 31 December 2019 were 61.3% and 38.7% respectively, while the proportions were 69.4% and 30.6% respectively last year. During the year ended 31 December 2019, overseas market contributed RMB81.6 million (2018: RMB85.6 million), or 70.8% (2018: 56.1%) to the Group’s total revenue. Revenue from the PRC market decreased from RMB66.9 million in the year ended 31 December 2018 to RMB33.6 million in the year ended 31 December 2019, taking up 29.2% (2018: 43.9%) of the total revenue. The Group considers innovation as the core element of its development. The design team consists of 39 staff as at 31 December 2019. Prospects: In 2019, the expanding property market in the PRC and the booming air purifier industry are believed to positively impact the operating conditions for the markets of electric fireplaces and air purifiers, and home decor products. However, the Group expects to face the adversity from the changing consumption pattern and economic uncertainties. Stemming from the country’s rapid development, deteriorating air quality has become an everyday issue for the general population. Together with the PRC’s two-child policy, children’s health presents an even stronger demand driver in the air purifier market. The Group will take the initiative to source suitable products and partnerships to cater for relevant demand, deriving more income and gaining diversity its product profile. Meanwhile, the number of property buyers are still expected to grow, benefitting the overall home furnishing market. Consumers’ expectations for comfortable homes will be upgrading as with the climbing income level. The Group will examine all opportunities for growth for the “Allen” (亞倫) brand. Carrying the Group’s industry expertise forward, the Group will continue searching for business opportunities in the domestic as well as overseas markets. In the meantime, the Group will improve its products and optimise its business composition for sustainable growth.

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