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Public company info - TS Wonders Holding Limited , 01767.HK
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TS Wonders Holding Limited, 01767.HK - Company Profile
Chairman Lim Seow Yen
Share Issued (share) 1,000,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Packaged Foods
Corporate Profile Business Summary: The group is a snacks company headquartered in Singapore primarily focused on the production, packaging and sale of nuts and chips with track record of more than 50 years. Performance for the year: The Group’s revenue increased by approximately S$2.5 million or 4.2% from approximately S$58.6 million for the year ended 31 December 2018 to approximately S$61.1 million for the year ended 31 December 2019 Business Review The Group’s revenue increased by approximately S$2.5 million or 4.2% from approximately S$58.6 million for the year ended 31 December 2018 to approximately S$61.1 million for the year ended 31 December 2019 mainly due to increased orders from certain OEM customers as they introduced new products to the market. Products The Group’s revenue was primarily derived from the sale of nuts and chips. The sale of nuts and chips products accounted for approximately 76.9% and 19.1% of revenue respectively for the year ended 31 December 2019. The product mix between the sale of nuts and chips were relatively stable for the two years ended 31 December 2019. Geographical location The Group’s products are sold and distributed to customers in over 10 countries. The Group’s products were largely sold in Singapore and Malaysia which accounted for approximately 59.8% and 24.9% of total revenue respectively for the year ended 31 December 2019. The composition of sales by geographical location of end consumers for the year ended 31 December 2019 was relatively stable as compared to the previous year ended 31 December 2018. Gross profit The pricing of the Group’s nuts and chips products are generally based on prices comparable to competitors for similar products. The Group’s gross profit margin for nuts increased from approximately 23.8% for the year ended 31 December 2018 to approximately 25.1% for the year ended 31 December 2019 mainly due to lower average cost of certain raw nuts, as the Group purchased in bulk from its suppliers. The Group’s gross profit margin for chips decreased from approximately 27.5% for the year ended 31 December 2018 to approximately 25.7% for the year ended 31 December 2019 mainly due to increase in raw potato prices as unpredictable weather conditions in the United States of America and Europe negatively impacted supply of potato crops. Overall, the Group’s gross profit margin for the year ended 31 December 2019 was relatively stable compared to the year ended 31 December 2018. Prospects: On 17 February 2020, MTI had downgraded the gross domestic product (“GDP”) growth forecast of Singapore for 2020 to “-0.5 to 1.5%”, with growth expected at around 0.5%, the mid-point of the forecast range due to, among others, the outbreak of the coronavirus disease (“Covid-19”) that has affected PRC, Singapore and many countries around the world. On 26 March 2020, MTI further downgraded the GDP growth forecast of Singapore for 2020 to “-4.0 to -1.0%” as the Covid-19 outbreak has escalated and led to a significant deterioration in the economic situation both externally and domestically. As at the date of this annual report, the Group expects the macroeconomic environment to remain challenging amid the Covid-19 outbreak which has not shown signs of slowing, crash of the crude oil prices, escalating trade tensions and geopolitical risks and uncertainty over the outcome of the upcoming United States of America election, among others. The Group continues to monitor the coronavirus outbreak very closely as its priority is always the well-being of its consumers and staff while concurrently, the Group continues to stay focused on implementing its business objectives. The Group’s business objectives are to maintain sustainable growth in its business and create long-term shareholders’ value. The Group intends to achieve a higher growth in the future by expanding and strengthening its market position in the snacks industry, through expansion of product range and production capacity by leveraging its branding and production capability. The Group believes that demand for snack products with less sugar, artificial sweeteners and flavourings such as savoury snacks will remain resilient even during challenging economic environment as consumers become more health conscious.

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