Share This

Public company info - Grown Up Group Investment Holdings Limited , 01842.HK
Input the stock code or the company name     Search  
 
 Profile   Information   Data   Financial Ratios   Profit Loss   Cash Flow   Balance   Earnings   Dividend 

Grown Up Group Investment Holdings Limited, 01842.HK - Company Profile
Chairman Thomas Berg
Share Issued (share) 1,000,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Accessories & Leather Goods
Corporate Profile Business Summary: The principal activities of the Group are designing, developing, manufacturing and selling bag and luggage products (the “Listing Business”). Performance for the year: The total revenue for the Reporting Period was approximately HK$304.8 million, representing a decrease of approximately HK$372.7 million or 55.0% from approximately HK$677.5 million as recorded for the year ended 31 December 2018. The overall gross profit margin increased from approximately 22.9% for the year ended 31 December 2018 to approximately 25.9% for the Reporting Period. Loss attributable to shareholders of the Company increased by approximately HK$56.6 million to approximately HK$29.5 million for the Reporting Period from profit of approximately HK$27.1 million for the year ended 31 December 2018. Business Review The Group is one of the establish backpack and luggage manufacturers and exporters principally operating in the design, development, manufacture and sales of a diverse product portfolio under the Group's business model. The Group's backpack and luggage products under such product portfolio are categorised into: (i) private label products; and (ii) branded products covering licensed brand products and proprietary Ellehammer brand products. These products cater to kid, teen, sports, leisure, business, travel and technical segments. With nearly three decades of operations, the Group's business model has evolved from a traditional original equipment manufacturing (“OEM”) to one that is a combination of OEM, original design manufacturing (“ODM”) and original brand manufacturing (“OBM”) with a diverse customer portfolio comprising private label customers, distributors, wholesalers and retailers. The Group believes that the Group's business model differentiates the Group from traditional OEM backpack and luggage manufacturers. The Group's Directors believe that the Group distinguishes itself by the Group's ability in providing full supply chain capabilities covering product design and development, manufacturing production control, quality assurance, sales and marketing, logistics and distribution. During the Reporting Period, the unexpected on-going trade dispute between the United States (the “U.S.”) and the PRC intensified and it adversely affected the Group's orders received from the U.S. and the global economy. Together with the negative impacts caused by the delay in new product development projects with the Group's customers and the postponement of launching licensed luggage products and distributing licensed products in the PRC, the total revenue for the Reporting Period was approximately HK$304.8 million, representing a decrease of approximately HK$372.7 million or 55.0% from approximately HK$677.5 million as recorded for the year ended 31 December 2018. Prospects: The Group prides itself in having (i) strong design, research and development capabilities, (ii) extensive and diverse international sales network and (iii) long-standing relationships with the Group's internationally renowned customers over the years. The Group believes these strengths, coupled with the Listing in June 2019, have further strengthened the Group’s reputation, credibility and competitiveness, thanks to the increased level of confidence among the Group's existing and prospective customers and suppliers. Nevertheless, 2019 was a challenging year for the Group. During the Reporting Period, the Group was affected by the continuing trade disputes between the U.S. and the PRC, which are significant threats to Mainland-based manufacturers in general. The escalating trade disputes between the two nations and the unstable political and business environment had caused the Group's revenue to drop significantly during the Reporting Period. With the outbreak of the Epidemic, the Group’s business was also circumvented by having its manufacturing facilities in the PRC shut down and production delayed in early 2020. The Group is closely monitoring and reviewing the market conditions. With the conclusion of the “Phase One Trade Agreement” between the U.S. and the PRC in January 2020, the Group believes that it would stimulate and energize the global economy gradually in the coming years. In view of the increasing number of infected cases in early 2020, the Group has been actively observing the development of the Epidemic and is prepared to implement any measures to mitigate any loss suffered due to the outbreak of the Epidemic. The Group has placed significant emphasis on the precautions to minimize the risk of contracting and spreading the Epidemic within its employees. Nonetheless, the Directors remain optimistic with their experience and expertise under their belts. Flexible measures and business strategies are adopted to meet the challenges ahead. The Directors are aware that the success of the Group lies in the persistence to innovate and are determined to revitalize the business strategies by reinforcing the design and development efforts. To further strengthen the Group’s position in the backpack and luggage industry, the Group is continuously looking for new customers to improve the Group's business profile, despite long term business relationships with several international-renowned customers were forged and maintained. Aiming at having an expanded sales network, the Group will upgrade its information technology management system to improve operational efficiency and communications with its customers. The Group also endeavors to expand and enhance its manufacturing capabilities to reinvigorate its production process and product standard. The Group is aware of the ever-changing conditions and is adopting a proactive approach. It is prepared to implement any plans and seize any opportunities to realize economic growth and tackle any issues. The Group places high emphasis on the commitment and connection with the customers, and will stay sensitive and alert to their needs. The Group strives to nurture its steadfast position and will adhere to its values in bolstering the quality of its products and services in the coming years.

Information from the financial statements of listed companies

Mobile | Full
Forum rule | About Us | Contact Info | Terms & Conditions | Privacy Statment | Disclaimer | Site Map
Copyright (C) 2024Suntek Computer Systems Limited. All rights reserved
Disclaimer : In the preparation of this website, 88iv endeavours to offer the most current, correct and clearly expressed information to the public. Nevertheless, inadvertent errors in information and in software may occur. In particular but without limiting anything here, 88iv disclaims any responsibility and accepts no liability (whether in tort, contract or otherwise) for any direct or indirect loss or damage arising from any inaccuracies, omissions or typographical errors that may be contained in this website. 88iv also does not warrant the accuracy, completeness, timeliness or fitness for purpose of the information contained in this website.