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Public company info - Jiujiuwang Food International Limited , 01927.HK
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Jiujiuwang Food International Limited, 01927.HK - Company Profile
Chairman Zheng Zhenzhong
Share Issued (share) 792,000,000
Par Currency U.S. Dollar
Par Value 1.0E-4
Industry Packaged Foods
Corporate Profile Business Summary: The Group principally engages in manufacture and sell confectionary products, such as aerated candies, gum-based candies, hard candies, tablet candies and chocolate-made products. Performance for the year: For the year ended 31 December 2020, revenue was approximately RMB401,232,000 (2019: approximately RMB414,082,000), representing a year-on-year decrease of 3.1%. For the year ended 31 December 2020, profit attributable to owners of the Company was approximately RMB44,078,000 (2019: approximately RMB43,196,000), representing a year-on-year increase of 2.0%, mainly due to the decrease of listing expenses, which are non-recurring in nature. The adjusted net profit was approximately RMB45,521,000 for the year ended 31 December 2020. For the year ended 31 December 2020, basic earnings per share of the Company were RMB7.4 cents (2019: RMB7.3 cents). Business Review The Group are a confectionary products manufacturer in the PRC. The Group manufacture and sell confectionary products, including gum-based candies, tablet candies, aerated candies and hard candies. The Group generally source raw materials from the Group’s suppliers, manufacture and package the Group’s confectionary products at the Group’s in-house production facilities, and either (i) sell the Group’s products under brands owned or licenced by the Group’s OEM customers in the PRC and to overseas countries or (ii) sell the Group’s products under the Group’s own brands, namely Coolsa (酷莎), Lalabo (拉拉卜) and Jiujiuwang (久久王), to distributors and end-consumers in the PRC. The Group own and operate the Group’s production facilities for manufacture of the Group’s confectionary products with a view to control the Group’s product quality, production costs and production schedule directly. The Group’s factory is located in Jinjiang City, Fujian Province with a large site area, with number of production lines to produce large number of tones of the Group’s products. During the year ended 31 December 2020, the Group’s business operation remained stable during the first half year of 2020 and has been improved in the second half of 2020. There was no material change to the Group’s general business model during the year. Prospects: The Group’s business objective is to strive to achieve sustainable growth and further enhance the Group’s position as a manufacturer of confectionary products in the PRC. The Group plan to leverage the Group’s competitive strengths and implement the following strategies: (i) expansion of production capacities; (ii) replacement of machines in the Group’s existing production lines; (iii) enhancement of marketing effort, increasing the Group’s sales through e-commerce channel and expansion of the Group’s distribution network; and (iv) expansion and enhancement of the Group’s product offerings through continuous product development efforts. Historically, the Group are a confectionary products manufacturer in the PRC. The Group have focused on manufacturing and selling confectionary products, including gum-based candies, tablet candies, aerated candies and hard candies. The Group own and operate the Group’s production facilities for manufacture of the Group’s confectionary products with a view to control the Group’s product quality, production costs and production schedule directly. The Group believe that production facilities, product development and quality control are crucial to the Group’s competitiveness and success. Thus, the Group will put significant emphasis on purchasing and introducing new production lines, purchasing new equipment and machines for replacement of existing machines and equipment. The Group will also emphasis on product development and will commit to enhancing product quality to cater for changing consumer preferences and enhancing the Group’s product offerings. One of the Group’s business strategies is to leverage on the Group’s production and product development capacities and experience in the manufacture and sale of the Group’s own-branded products, the Group manufacture and sell the Group’s confectionary products under brands owned or licenced by OEM customers in the PRC and to overseas countries. To enhance the Group’s marketing, the Group will engage a marketing firm for promotion of the Group’s brands to strengthen the Group’s market position in the confectionary industry in the PRC and enhance the Group’s brand recognition and awareness, so as to increase the Group’s sales through e-commerce channel and enhance the Group’s distribution network. The Group believe that above business strategies will take advantage of the business opportunities and explore new markets with significant growth potential in the PRC. Looking ahead, the Group will endeavor to strengthen the development of its businesses to provide steady return as well as growth prospects for the Company’s shareholders.

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