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Public company info - Acme International Holdings Limited , 01870.HK

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Acme International Holdings Limited, 01870.HK - Company Profile
Chairman Kwan Kam Tim
Share Issued (share) 520,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Construction & Decoration
Corporate Profile Business Summary: The Group is principally engaged in the provision of design and build solutions for façade works (‘‘Façade Work Business’’) and provision of design and build solutions for building maintenance unit (‘‘BMU’’) systems (‘‘BMU Systems Business’’) in Hong Kong (the ‘‘Listing Business’’). Performance for the year: During the Year, the Group recorded revenue of approximately HK$479.5 million, representing an increase of 2.9% as compared to approximately HK$466.1 million recorded for the year ended 31 December 2018. The Group’s gross profit slightly increased by approximately HK$6.1 million or 6.7% from approximately HK$91.1 million for the year ended 31 December 2018 to approximately HK$97.2 million for the Year. The gross profit margin of the Group increased from 19.5% for the year ended 31 December 2018 to 20.3% for the year ended 31 December 2019. The Group’s profit for the Year amounted to approximately HK$41.1 million, representing a decrease of approximately HK$57.8 million or 58.5% as compared to that of approximately HK$98.9 million for the year ended 31 December 2018. Business Review The Group is principally engaged in providing one-stop design and build solutions for façade works and BMU system works in Hong Kong. Through the Company’s principal operating subsidiaries, Acme Metal Works (International) Limited and Acme Gondola Systems Limited, the Group has accumulated over 30 years of experience in façade works industry in Hong Kong, and over 19 years of experience in BMU system works industry in Hong Kong. The Group’s design and build solution services in relation to façade works and BMU system works generally cover design, preparation of shop drawings and structural calculations, procurement of building materials and BMU systems, installation and logistics arrangement services, on-site project supervision, post-completion maintenance services and project management. To a smaller extent, the Group also provides one-off repair and maintenance services for façade works and one-off and regular repair and maintenance services for BMU system works. The Group’s façade works focus on private sector and cover residential buildings and commercial buildings. The Group’s BMU system works cover both private and public sectors and cover residential buildings, commercial buildings, industrial buildings as well as community facilities. During the Year, the Group was awarded 33 new design and build projects with total contract value amounted to approximately HK$736.7 million, representing an increase by approximately 50.4% from approximately HK$489.9 million for the year ended 31 December 2018. During the Year, the Group had completed a total of 30 design and build projects, of which 2 projects were related to façade works and 28 projects were related to BMU system works. As at the 31 December 2019, the Group has 21 and 72 design and build projects on hand (i.e. with engagement confirmed and not yet completed) in relation to façade works and BMU system works, with total awarded contract sum of approximately HK$1,146.0 million and HK$409.2 million, of which approximately HK$462.5 million and HK$280.9 million had been recognised as revenue up to 31 December 2019, respectively. It is expected that these projects will contribute revenue to the Group substantially in the coming years. Subsequent to the end of the Year and up to the date of this announcement, the Group had been awarded one and three projects for design and build projects in relation to façade works and BMU system works, with a total estimated contract sum of approximately HK$114.9 million and HK$12.1 million, respectively. Prospects: Although Hong Kong economy faced significant downward pressure during 2019, as compared to the year ended 31 December 2018, the Group has recorded an increase in revenue and gross profit, and the Adjusted Profit of the Group remains stable for the Year. Analysing from a macro perspective, although the US-China trade negotiation has achieved progress in a phased manner, there are still uncertain factors. Furthermore, the social issues in Hong Kong which carried over from 2019 has caused further economic uncertainty. As the Group enters into the year 2020, the outbreak of the coronavirus disease 2019 (‘‘COVID-19’’) has further increased the risk of Hong Kong’s economic slowdown and cased in additional uncertainties in the Group’s operating environment going forward. Looking ahead, the various unfavourable factors mentioned above may exert pressure in Hong Kong property and construction market in general, and it is expected that the Group’s performance will inevitably be affected. Despite the uncertainties in the global economy, the Group will optimise and manage its resources to seize opportunities and actively engage in those which are beneficial to the long-term development of the Group. The Group has an operating history of over 30 years in Hong Kong as a one-stop design and build solutions service provider. Throughout the last 30 years, the Group experienced several highs and lows which tested its character and determination. While every project has its own set of challenges, the Group’s principle has always been to fulfil its promises, with excellent quality and commitment. With the perseverance and dedication of the management team and employees, the Group strongly believe that it can overcome potential hardships that may come in its way and scale greater heights. In the meanwhile, while the Group endeavours to sustain its business in Hong Kong, the Group may also expand its construction market to include Macau and China to reduce the risk of the Group relying on a single geographical market.

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