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Public company info - Guan Chao Holdings Limited , 01872.HK
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Guan Chao Holdings Limited, 01872.HK - Company Profile
Chairman Tan Shuay Tarng Vincent
Share Issued (share) 900,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Automobile Retailing, Maintenance & Repair
Corporate Profile Business Summary: The Group are sales of new parallel-import motor vehicles and pre-owned motor vehicles, provision of motor vehicle financing services and motor vehicle insurance agency services, sales of motor vehicle spare parts and accessories and provision of motor vehicle leasing services (the “Business”). Performance for the year: The Group’s revenue increased by approximately S$2.0 million or 1.1% from approximately S$185.0 million for the year ended 31 December 2018 (“FY2018”) to approximately S$187.0 million for FY2019. As a result of the foregoing, the Group’s total gross profit decreased by approximately S$1.1 million or 5.0% from approximately S$22.0 million for FY2018 to approximately S$20.9 million for FY2019. Business Review： The Group’s revenue increased by approximately S$2.0 million from approximately S$185.0 million for the year ended 31 December 2018 (“FY2018”) to approximately S$187.0 million for FY2019. The increase in revenue was primarily attributable to the increase in sales of motor vehicles amounted to approximately S$1.3 million and increase in rental income from operating lease of motor vehicles amounted to approximately S$0.6 million. The Group’s gross profit decreased by approximately S$1.1 million from approximately S$22.0 million for FY2018 to approximately S$20.9 million for FY2019, which was mainly attributable to the decrease in the gross profit of sales of motor vehicles business. The overall gross profit margin decreased from approximately 11.9% for FY2018 to approximately 11.2% for FY2019 which was mainly due to the decrease in gross profit margin in the sales of motor vehicles business and leasing of motor vehicles business. The Group recorded a profit and total comprehensive income of approximately S$3.0 million for FY2019 as compared to a profit and total comprehensive income of approximately S$7.4 million for FY2018. Such decrease was primarily due to the (i) increase in the Group’s general and administrative expenses (excluding listing expenses) of approximately S$1.5 million; (ii) increase in the Group’s selling and distribution costs of approximately S$1.1 million; and (iii) decrease in gross profit by approximately S$1.1 million. Prospects: Despite the challenges facing by the motor vehicle dealers in Singapore given the economic downturn as well as the expected downward trend in the motor vehicle sales industry driven by the expected tightening trend of Certificate of Entitlement (“COE”) quota, the Group will use its best endeavour to adopt appropriate business strategies leveraging its market position as the leading parallel-import dealer in Singapore and the Group is currently exploring business opportunities on the sales of motor vehicles and other industries in other Southeast Asian countries as one of the measures to mitigate the expected downward industry trend.

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