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Public company info - Pacific Millennium Packaging Group Corporation , 01820.HK
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Pacific Millennium Packaging Group Corporation, 01820.HK - Company Profile
Chairman Cheng Hsien-Chun
Share Issued (share) 301,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Printing, Publishing & Packaging
Corporate Profile Business Summary: The Group is principally engaged in manufacture and sale of packaging materials. Performance for the year: the Company recorded revenue of approximately RMB2,073.9 million, representing an increase of approximately RMB54.4 million or approximately 2.7% as compared with approximately RMB2,019.4 million for the year ended 31 December 2018. Consolidated gross profit margin was approximately 19.1%, representing an increase of approximately 0.4% as compared with approximately 18.7% for the year ended 31 December 2018. Gross profit for the Reporting Period was approximately RMB395.8 million, representing an increase of approximately 4.7% as compared with approximately RMB378.1 million for the year ended 31 December 2018. Basic earnings per share for the Reporting Period amounted to RMB0.25, representing a decrease of 37.5% as compared with RMB0.40 in 2018. Business Review During the Reporting Period, the Company had faced various unfavourable factors such as the ambience of global economic downturn and the slowdown of national GDP growth, which made the competition in the corrugated packaging industry increasingly fierce. Despite the unfavourable factors, during the year, the Group’s production volume reached a level of not less than 50 million square meters in a single month, which brought a revenue of approximately RMB2.07 billion to the Group for the Reporting Period. In order to strengthen the Group’s market position in the corrugated packaging industry in the PRC and reduce the strain on production capacity of other production plants, during the Reporting Period, the Group had commenced construction of its new production plant in Shandong province, namely the Shandong Plant. In anticipation of the future potential growth of the PRC corrugated packaging industry as a result of the increasing demand brought by the rapid development of e-commerce and the growth in domestic demand of certain necessary products as mentioned above in the PRC, the Company will continue to focus on expanding its production plants network by setting up new production plants in the PRC and will further strengthen the Group’s market position in the corrugated packaging industry in the PRC and improve its revenue and profitability through broadening geographical coverage and market penetration. The Company identified certain risks and uncertainties which may affect the Group’s business and operations. Such risks and uncertainties include the continuing increase of prices on key raw materials required by the Group for its production; uncertainty in obtaining external financing and significant level of borrowings to support the Group’s operations; unexpected increase in lending interest rates; decline in utilisation rates due to breakdown of the Group’s production equipment; and the continuing spread of the novel coronavirus (COVID-19). The Group will ensure that all such inherent risks and uncertainties pertaining to the Group’s business and operations will be monitored on a timely basis and take all necessary steps to mitigate the risks and cope with any change. Prospects: Looking forward, The group will continue to focus on expanding The group’s production plants network by setting up new production plants in the PRC focusing on the Shandong Plant and Foshan Plant. The group will further strengthen The group’s market position in the corrugated packaging industry in the PRC and improve revenue and profitability through broadening geographical coverage and market penetration. The group believe that, as a result of the novel coronavirus (COVID-19) in the PRC, The group’s Group’s performance for the year 2020 would be inevitably affected. However, given the rapid development of e-commerce and the growth in domestic demand on food and beverages, and basic necessities in the PRC, the Board believes that there will be sufficient demand for the Group’s products. Since the outbreak of novel coronavirus (COVID-19), the Group has been closely monitoring the market conditions and the Group will adjust its response strategies in a timely manner.

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