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Public company info - China Oriented International Holdings Limited , 01871.HK

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China Oriented International Holdings Limited, 01871.HK - Company Profile
Chairman Qi Xiangzhong
Share Issued (share) 400,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Other Support Services
Corporate Profile Business Summary: Established in 2012, the group is a provider of driving training services with two driving schools, namely, Shun Da School and Tong Tai School, in Zhumadian City, Henan Province, the PRC. Performance for the year: For the year ended 31 December 2019, the group recorded revenue of RMB93.5 million, a 20.3% increase RMB77.7 million for the year ended 31 December 2018. The net profit attributable to owners of the Group for the year ended 31 December 2019 was RMB19.1 million, representing an decrease of RMB2.2 million or a 10.3% decrease from the corresponding period in 2018. Business Review The group operate two driving schools, namely, Shun Da School and Tong Tai School. Shun Da School is a qualified level II driving school established and commenced operation in 2012 which offers driving training services for preparation for Driving Tests of Small Vehicles. Tong Tai School is a qualified level I driving school established and commenced operation in 2014 which offers driving training services for preparation for Driving Tests of both Large Vehicles and Small Vehicles. Driven by the requirement of the Driving Training Curriculum that trainees registered on or after 1 October 2018 must satisfy the relevant minimum training hours requirement before they apply for taking the relevant driving tests, the demand for the group’s premium courses, which offer higher numbers of training hours than the group’s standard courses, has increased significantly. In order to meet different customer needs, the group’s driving schools still offer standard courses and premium courses to the group’s trainees. For the two years ended 31 December 2018 and 2019, the group had 15,324 and 15,472 trainees who attended the group’s driving courses, respectively. The group’s trainees may make advance bookings for driving lessons according to their own learning schedules, subject to confirmations by the group’s teaching affair office. In respect of the group’s premium courses, the group’s driving schools currently offer to the group’s trainees driving training for a number of training hours that is equal to the minimum training hours requirements specified in the Driving Training Curriculum. For the two years ended 31 December 2018 and 2019, the group’s premium courses comprised holidays and weekends courses, economy courses and VIP courses. The group’s VIP courses for Large Vehicles provide different complimentary supporting services including pick-up services, catering services and/or accommodation services without additional charges. For the two years ended 31 December 2018 and 2019, the group’s total revenue amounted to approximately RMB77.7 million and RMB93.5 million, respectively. For the year ended 31 December 2019, the group’s driving schools generated revenues from large and small vehicles of approximately RMB73.8 million and RMB19.7 million, respectively, representing approximately 78.9% and 21.1% of the total revenue of the group’s Group, respectively. The group’s driving schools generated revenues from standard courses, including the revenue from additional training services, and premium courses of approximately RMB2.5 million and RMB91.0 million, respectively, representing approximately 2.6% and 97.4% of the total revenue of the group’s Group, respectively. During the year ended 31 December 2019, the revenue generated from the group’s premium courses increased both in magnitude and proportion. The group believe that this was mainly attributable to the Driving Training Curriculum and the Assessment Framework Adjustment, which imposed the requirements on minimum training hours and certain new requirements on the On-site Driving Test and the On-road Driving Test, respectively. The group believe that as a result of the Driving Training Curriculum and the Assessment Framework Adjustment, the group’s premium courses, which offered training hours which satisfied the requirement on minimum training hours on or after 21 March 2018, became more attractive. Prospects: I. OVERALL MACRO ECONOMY The year 2020 is destined to be an extraordinary year and the year for China to achieve the decisive victory in “comprehensively eliminating absolute poverty”, while 2021 is the year by which the goal of “building China into a moderately prosperous society in all respects by the centennial anniversary of the founding of Chinese Communist Party” as set by Chinese government will be reached, which attaches great importance to 2020. At the beginning of the critical year of 2020, due to the impact of the COVID-19, the economic activities throughout the country were suspended, which was destructive to the economy. Fortunately, the pandemic improved and stabilised after February and economies in various areas other than Hubei Province began to rebound in March. It is expected that the Chinese economy will maintain stable growth with momentum in the second quarter and achieve fast growth in the second half of the year. In light of the resilience of Chinese economy, the impact of the pandemic is transient and the recovery is certain. II. CHANGES OF IMPACTS ON THE DRI V I NG TR A I N I NG S E RV ICE S INDUSTRY With the economic recovery, online transactions will experience significant growth. Since the consumer purchase is inhibited during the whole Spring Festival holidays, consumer purchases is expected to rebound in the second quarter. Coupled with people’s preference for online shopping due to the change of consumption habits as a result of the pandemic, the logistics and quarter. As such, the accompanying demand for freight drivers is expected to surge in the second quarter, and the demand for driving training services is expected to increase. At the same time, due to the impact of the pandemic, people tend to consciously avoid travelling by public transportation means to prevent themselves from being infected. The group expect that people who do not have a vehicle may plan to learn to drive and buy a vehicle, which is expected to be beneficial to the driving training services market as a whole. All in all, the industry is adversely affected by the pandemic in the first quarter, but the industry is expected to gradually recover in the second quarter and return to the normal level of development in the second half of the year. III. THE GROUP’S MEASURES FOR THE CURRENT SITUATION The group expect the operating targets the group’s Group had set for the first half of the year 2020 to be adversely affected by the outbreak of the COVID-19 pandemic. Given that the group’s provision of driving training services has been gradually resuming since early March 2020, the group will strive to achieve the annual targets set for the first half of the year 2020. During this period of partial resumption, the group will improve the group’s internal management system and provide the group’s driving instructors with continuous educational support. The group will continue with the group’s effective internal measures on disease prevention and control and collaborate with the relevant government authority to minimise the impact of COVID-19 pandemic on the group’s business operation. The group will also extensively utilise online marketing methods to secure customers and encourage course enrolment by telephone and WeChat in advance. Throughout the year, the group will continue with the group’s strategy on the acquisition of land for new training fields and commence with the group’s plans

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