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Public company info - JiaChen Holding Group Limited , 01937.HK

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JiaChen Holding Group Limited, 01937.HK - Company Profile
Chairman Shen Min
Share Issued (share) 1,000,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Construction Materials
Corporate Profile Business Summary: The group is principally engaged in the manufacturing and sales of access flooring products and provide related installation services. Performance for the year: The Group recorded a consolidated revenue of approximately RMB182.2 million for the year ended 31 December 2020, representing a decrease of approximately RMB88.7 million or 32.7% as compared to the year ended 31 December in 2019. Profit before taxation has reduced by 92.6% from approximately RMB23.7 million for the year ended 31 December 2019 to approximately RMB1.8 million for the year ended 31 December 2020. Business Review: The Group is principally engaged in the manufacturing and sales of access flooring products and provide related installation services with the headquarters based in Changzhou City, Jiangsu Province, the PRC. The Group’s products mainly consist of: (i) steel access flooring products; and (ii) calcium sulfate access flooring products. The access flooring products of the Group have been generally applied in office buildings in the PRC with the characteristics of: (i) cable management (wires and cables are managed and organised underfloor with flexibility to accommodate any electronic devices); (ii) short installation time; (iii) high compressive strength and fire-resistance characteristic; and (iv) high bearing capacity. Access flooring products have been widely applied for use in office buildings, industrial office buildings, data centres, classrooms, libraries, etc. The usage of raised access flooring products is increasing at a steady rate in the PRC due to the growth in the continuous investments in new office buildings as well as growing construction area of industrial land. This steady growth trend can mainly be attributed to the following primary factors: (i) a rising demand from construction of industrial office buildings in second-tier and above cities in China; (ii) an increase in the number of aging office buildings in China with the retirement of more and more obsolete access flooring products units; (iii) increasing more stringent policies adopted by the PRC Government, stimulating an expected increase in the demand for access flooring products; (iv) a growth in price of access flooring products as a result of increasing raw materials prices; and (v) increasing penetration rate of calcium sulfate access flooring products due to its high performance. As the Group is considered as one of the largest players in the access floor manufacturing industry in the PRC, the Board believes that a top-down management structure is conducive to further market penetration in the industry. While the sales manager is responsible for: (i) formulating sales and marketing strategy and planning upon the approval of the general manager; (ii) managing major on-site promotional activities; (iii) analysing the market environment, target, planning and business activities on a regular basis; (iv) formulating the market price of the Group’s products based on the market and industry situation; (v) negotiating and entering into agreement; (vi) allocating resources for annual sales plan; and (vii) understanding customers’ needs by visit, the principal duties of the sales representatives are to expand the customer base, track the existing customers’ needs, negotiate and enter into contract with them. As for back-up supporting staff, they assist in supervising contract execution, compiling relevant statistics for analysis and handling customers’ concerns in a timely fashion. With the concerted efforts of the staff, the Group continues its commitment to quality access flooring products with different sales and marketing strategies, including improving quality products, brand recognition and the responsiveness to customers. In addition, the Group would also enhance its effort in attending trade fairs and exhibitions, which are considered as good platforms for brand promotion and expansion of customer base. The Group is committed to exhibiting a high level of consciousness on product design, function and quality and accordingly, it has established a research and development team, the members of which have obtained relevant qualification as assistant engineer (助理工程 師). With its strong research and development capability, the Group has made the following achievements: (i) better recombination ability of the coating resin in graphene; and (ii) better performance of the graphene coating powder in terms of coating flexibility, resistance and other technical areas. In spite of the widespread outbreak of the COVID-19, the Group spent approximately RMB7.0 million in research and development for the year ended 31 December 2020 as compared to that of approximately RMB9.9 million for the year ended 31 December 2019. The Group is committed to exhibiting a high level of consciousness on product design, function and quality and accordingly, it has established a research and development team, the members of which have obtained relevant qualification as assistant engineer (助理工程 師). With its strong research and development capability, the Group has made the following achievements: (i) better recombination ability of the coating resin in graphene; and (ii) better performance of the graphene coating powder in terms of coating flexibility, resistance and other technical areas. In spite of the widespread outbreak of the COVID-19, the Group spent approximately RMB7.0 million in research and development for the year ended 31 December 2020 as compared to that of approximately RMB9.9 million for the year ended 31 December 2019. The Group’s presence in the access flooring manufacturing industry is established in the PRC. The Group has been awarded ISO 9001:2015 (Quality Management), ISO 14001:2015 (Environmental Management System) and OHSAS 18001:2007 (Occupational Health and Safety Assessment) certificates. With the commitment to quality control, the Group’s market recognition and service quality are further underpinned. The Group has also been awarded the “Well-known Trademark of Changzhou City” (常州市知名商標證書) by the Recognition Committee of Well-known Trademark of Changzhou City (常州市知名商標認 定委員會) in 2011, “Jiangsu Famous Brand Certificate” (江蘇名牌產品證書) by the Jiangsu Promotion Commission for Famous Brand Strategy (江蘇省名牌戰略推進委員會) in 2017, the accreditation of AAA Credit Enterprise (企業信用等級證書AAA綜合信譽信用等級) by Jiangsu Branch of Lianhe Credit Information Service Co., Ltd. (聯合信用管理有限公司江蘇 分公司) for the period from 2016 to 2018, the accreditation of AA Quality Credit Rating (江 蘇省質量信用等級) by the Market Supervision Bureau of Jiangsu Province (江蘇省市場監督 管理局) in 2019 and the “Changzhou High-tech Product Certification” (常州市高新技術產品 認定證書) by the Science and Technology Bureau of Changzhou City (常州市科學技術局) in 2020. The Board believes that business success would be attributable to an experienced and stable management team. Mr. Shen Min (“Mr. Shen”), an executive Director, who established the Group in 2009 and together with Mr. Chen Shiping (“Mr. Chen”), an executive Director and general manager, have possessed in-depth knowledge of the Group’s business operation. In 2011, Mr. Shen was awarded the “Outstanding Entrepreneur of Jiangsu Province” (江蘇省 優秀企業家) by the Jiangsu Famous Brand Promotion Association (江蘇名牌事業促進會) and the Quality Supervision Committee of Jiangsu Province (江蘇省質量監督委員會). From 2015 to 2016, Mr. Chen made his presence as a drafter in a group of 11 for the drafting of the “General specification for raised access floor for electrostatic protection” (防靜電活動地 板通用規範), a specification of the National Standard of the PRC promulgated by the State Administration for Market Regulation and Standardization Administration of the PRC in June 2018, which has become effective in January 2019. The Board is therefore of the view that the Group encompasses a diverse portfolio of high calibre staff members. Prospects: Whilst the PRC government struggled to contain the coronavirus pandemic, it is believed that the PRC is one of the few countries in the world to have experienced an economic growth with its gross domestic product increased by 2.3% in 2020. Given the resilience and potential of the PRC’s economy in the long run, it is considered that stable growth would remain unchanged. The Group would therefore closely monitor the latest development of the epidemic disease resulting from the spread of COVID-19 and its impact on the industry at large, and would adjust its strategies from time to time when required. Although the Group is facing unprecedented challenges and uncertainties ahead, the Board is generally optimistic about the medium and long-term prospect of the access flooring products industry and the Group’s business operations. The Board foresees that such challenges and uncertainties are expected to continue to affect the Group’s performance at least in the first half of 2021 until the spread of the COVID-19 pandemic slows down with more vaccines becoming available for the provision of acquired immunity against the pandemic disease so as to allow for a gradual economic recovery for both the domestic and global markets. To this end, the Group would strive to return to the recovery path by focusing its resources to enhance product recognition by improving production technology and upgrading the production line in order to maintain effective cost control and strengthen its competitiveness.

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