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Public company info - Feiyang International Holdings Group Limited , 01901.HK
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Feiyang International Holdings Group Limited, 01901.HK - Company Profile
Chairman He Binfeng
Share Issued (share) 500,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Travel & Tourism
Corporate Profile Business Summary: The group is principally involved in (i) the design, development and sale of outbound travel package tours; (ii) the design, development and sale of free independent traveller (“FIT”) products; and (iii) the provision of other ancillary travel-related products and services. Performance for the year: During the year, our Group’s total revenue increased significantly by RMB193.0 million or 39.2% from RMB492.9 million for the year ended 31 December 2018 to RMB685.9 million for the year ended 31 December 2019 . The Group recorded gross profit of RMB106.7 million and RMB118.3 million, representing gross profit margin of 21.6% and 17.2% for the year ended 31 December 2018 and 2019, respectively. Business Review The Group is a well-established travel service provider based in Ningbo, Zhejiang Province of the PRC and offers diversified products that cater for different travellers’ needs. The Group is principally engaged in (i) the design, development and sales of package tours which consist of traditional package tours and tailor-made tours; (ii) the sales of free independent traveller products (the “FIT Products”) which mainly include provision of air tickets and/ or hotel accommodation; and (iii) the provision of ancillary travel-related products and services, including but not limited to visa application processing, admission tickets to tourist attractions, conferencing services and arranging purchase of travel insurance for the customers. During the year, the demand for travel-related products and services of Chinese residents remained strong and the number of outbound tourist visits from China continued to grow and accordingly, the Group’s sales of package tours experienced steady growth. The sales of package tours increased significantly by RMB148.3 million or 35.3% from RMB420.4 million for the year ended 31 December 2018 to RMB568.7 million for the year ended 31 December 2019. Prospects: Despite the uncertainties brought by the trade tension between the United States and the PRC throughout 2019, the Chinese tourism industry, as well as the performance of the Group recorded encouraging growth. The Directors are optimistic about the development of the Chinese tourism industry with pragmatic reasons: (i) increasing income level and consumption expenditure on travelling; (ii) more accessible and convenient products and services from online travel agencies; (iii) more favourable governmental policies of tourism industry; and (iv) gradual improvement of tourism infrastructure and facilities. The Group strives to offer extensive selection of travel products and services encompassing a wide range of geographical destinations and introduce different sight-seeing package tours and theme package tours to cater for different travel preferences of customers. The Group will closely observe the market trends and develop package tours which cater for changing customer demands and preferences and will seek to introduce new itineraries and activities from time to time in order to offer new travel experiences to the customers. The Group will continue to maintain good relationship with various airline operators, hotel operators, ticketing agents and land operators at destination countries; evaluate development opportunities on sales network and product portfolios to strengthen its competitive advantage and, in return, achieving sustainable growth for the Group and to bring greater return to its shareholders.

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