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Public company info - Diwang Industrial Holdings Limited , 01950.HK
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Diwang Industrial Holdings Limited, 01950.HK - Company Profile
Chairman Liu Jing
Share Issued (share) 1,000,000,000
Par Currency U.S. Dollar
Par Value 5.0E-4
Industry Chemical Products
Corporate Profile Business Summary: The Group is principally engaged in the manufacturing and sales of faux leather chemicals. Performance for the year: For the year ended 31 December 2019, revenue was approximately RMB182,681,000 (2018: approximately RMB167,307,000), representing a year-on-year increase of 9.2%. For the year ended 31 December 2019, gross profit was approximately RMB61,995,000 (2018: approximately RMB50,688,000), representing a year-on-year increase of 22.3%. For the year ended 31 December 2019, profit attributable to owners of the Company was approximately RMB24,124,000 (2018: approximately RMB30,790,000), representing a yearon-year decrease of 21.6%, mainly due to the incurrence of listing expenses, which are nonrecurring in nature. The adjusted net profitNote was approximately RMB35,761,000 for the year ended 31 December 2019. For the year ended 31 December 2019, basic earnings per share of the Company were RMB3.22 cents (2018: RMB4.11 cents). Business Review The Group is an established faux leather chemicals manufacturer in the PRC principally engaged in the research and development, manufacturing and sale of coating agents and synthetic resins under its established brand of “深蓝科技”. In 2019, the global economy experienced great risks and challenges due to the uncertainties arising from the trade frictions between China and the United States. In China, the Chinese government strengthened countercyclical regulation and proactively implemented the policies for “stabilizing employment, stabilizing finance, stabilizing foreign trade, stabilizing foreign investment, stabilizing investment and stabilizing expectation”. China’s economy generally operated within an appropriate range. The supply side reform continued to advance, and the policies for environmental protection became increasingly strict. Industry consolidation and elimination were accelerated, and the faux leather chemical industry generally picked up from the bottom level. Under such background, the Group actively carried out the research and development of a number of new products with high added-values through enhanced cooperation with strong enterprises in the PRC faux leather industry. It strengthened raw material cost management to reduce cost of sales, and strived to increase its production volume and production equipment utilisation rate, in order to maintain the rapid growth of performance of the Company. For the year ended 31 December 2019, the Group recorded gross profit of approximately RMB61,995,000, representing an increase of approximately 22.3% from approximately RMB50,688,000 for the year ended 31 December 2018. For the year ended 31 December 2019, the Group recorded net profit attributable to owners of the Company of approximately RMB24,124,000, representing a decrease of approximately 21.6% from approximately RMB30,790,000 for the year ended 31 December 2018. Without deducting the listing expenses, the Group’s net profit for the year ended 31 December 2019 amounted to approximately RMB35,761,000, representing an increase of approximately 16.1% as compared to 2018. Prospects: The Group was listed on the Main Board of The Stock Exchange in March 2020. The successful listing not only strengthened the Group’s shareholder base, but also further enhanced its financing capability, brand awareness and reputation. During the Reporting Period, the Group continued to steadily develop its various businesses. The Group aims to maintain the sustainable growth of its business and strengthen the Group's market position in the faux leather chemicals manufacturing industry. To this end, the Group intends to adopt the following strategies: (1) further expanding the production capacity for colourant products; (2) continuing to strengthen the Group's research and development capabilities and further expanding the Group's product portfolio and geographical coverage; and (3) enhancing automation of the Group's existing production facility and information management system. The epidemic caused by the novel coronavirus (COVID-19) has been spreading worldwide since January 2020. The Group has resumed its production and sales activities since February 2020. Pending on the future development and spread of COVID-19 subsequent to the date of this announcement, further changes in economic conditions for the Group may arise, which may have an impact on the financial results of the Group, the extent of which could not be fully assessed as at the date of this announcement. The Group will continue to monitor the development of COVID-19 and actively assess its impact on the financial position and operating results of the Group from time to time.

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