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Public company info - Ta Yang Group Holdings Ltd. , 01991.HK
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Ta Yang Group Holdings Ltd., 01991.HK - Company Profile
Chairman Shi Qi
Share Issued (share) 871,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Industrial Goods
Corporate Profile Business Summary: The principal activities of the Group are design and manufacture of silicone rubber input devices which are mainly used in lifestyle products and 4Cs (i) Consumer (consumer electronic devices), (ii) Computers (keypads for computers and notebooks), (iii) Communications (mobile phone peripheral products), and (iv) Cars (automotive peripheral products). In addition, the Group has penetrated into healthcare and hotel services. Performance for the year: The consolidated revenue for the seventeen months ended 31 December 2019 was decreased by 38% to HK$521.0 million (year ended 31 July 2018: HK$377.2 million) while our loss attributable to equity Shareholders was HK$96.4 million (year ended 31 July 2018: a loss of HK$3.7 million). Basic loss per share of the Company was HK9.92 cents (year ended 31 July 2018: HK0.43 cents loss) per share based on the weighted average number of 871,178,000 (2018: 871,178,000) shares in issue during the year. Business Review For the seventeen months ended 31 December 2019, the Group maintained steady business development and recorded a total turnover of HK$521.0 million (year ended 31 July 2018: HK$377.2 million). The Group stayed committed to developing markets with prime quality, high technology and excellent service quality, and strove to improve its product portfolio and customer base. Further, the Group pursued strict controls over purchase cost, rational investment in machinery and manpower and rigorous product quality control so as to boost production capacity and efficiency and alleviate the shortage of production line workers. Thanks to its switch to the manufacturing of products with higher added-value and implementation of rational cost control, the Group recorded gross profit of HK$105.0 million for the seventeen months ended 31 December 2019 (year ended 31 July 2018: HK$82.9 million). However, due to the increase in costs for the Group’s development and preparation for potential business and establishment of the head office in Chengdu and the absence of income from disposal of non-core assets during the period, the Group’ results of operations for the seventeen months were down to a loss of HK$91.0 million (year ended 31 July 2018: a loss of HK$4.3 million). In terms of silicone product business, the total turnover for the seventeen months amounted to HK$510.6 million (twelve months in 2018: HK$362.5 million). In response to the change in the application range of silicone products, the Group improved the production of traditional cellphone keyboards and automobile console accessories, and strove to expand the market share of its wearable consumer products, especially silicone accessories for traditional European and American audio equipment brands in the category of electronic consumer products. Given its superiority in shape, color, feel and functionality, silicon is used by major audio equipment brands as the key component of their accessories including headphone covers, headsets and audio buttons. Such products are well received by existing and new customers. In an environment where changes are taking place in the application range of silicone products, the Group endeavors to develop new products to cater for new uses while clinging to its traditional keypad products and customer base, and draws on its experiences in the R&D, production and management of new products to innovate its traditional processes and thus enable wider application of silicone accessories in traditional products. Due to its unique properties of temperature resistance, weather resistance, electrical insulation, physical inertness, low surface tension and low surface energy, silicone cannot be replaced by other materials. Thus for the same type of products, more silicone accessories are being used than before, which maximizes the application of silicon in products and also enhances the aesthetic appeal and functionality of products. For instance, in the past remote control shells were made of plastic with only press-key panels made of silicone, and now the Group is working with its customers to develop silicone shells for remote controls based on the special design of the silicone-coated plastic head part of silicone watchbands, which will be treated with special techniques to achieve dust resistance and a certain degree of smoothness. In terms of healthcare and hotel business, the Group’s healthcare and hotel business in Hainan was immune to market instability and maintained steady growth. The Group will closely monitor market trends to explore and adjust management strategy in a timely manner. The joint venture company (the “Joint Venture”) jointly founded by the Group, Yunnan Investment Construction and China Technology Emerging, was approved to establish and operate during the period. The Joint Venture has been planning to participate in public-private partnership (PPP) projects with profitability potential, and improve the Group’s management standard for its environmental construction business, which will provide strong momentum for the Group’s future development. In addition, the Group has kept up its efforts in developing potential business, such as investing in innovation projects in the fields of artificial intelligence and clean energy, which could create synergies with the Group’s healthcare and environmental construction business and is expected to bring substantial financial returns to the Group. Prospects: Given their extensive application, silicone products will continue to enjoy steadily growing market demand. With self-owned raw materials factory, mold design and processing factory and end-product factory, the Group is able to provide integrated services to customers. The Group will capitalize on its premium products and quality customer service to retain existing customers, ensure stable growth of project contracts, and develop new customers at home and abroad. The Group will accelerate the development of new products with higher profitability, continue to develop new customers and make adjustments to selling prices. The silicone products for healthcare and baby care (such as electronic blood pressure monitors and baby products) produced by the Group per orders from customers are well received by the market. The Group has enhanced its capacity to produce a wider range of silicone products, and will develop more silicone products to increase its market share. In the first quarter of 2020, the Company has obtained CE Certification of Compliance for its self-developed non-powered air-purifying particle respirator and entered into strategic cooperation framework agreement in respect of the supply of silicone masks. The Company is confident that the personal protective equipment and silicone mask market will be in demand during 2020 to fight against the COVID-19 outbreak. For details, please refer to the voluntary announcements of the Company on 13 February 2020, 25 February 2020, 16 March 2020 and 19 March 2020. In the long run, the Group will make an active effort to explore, prepare and establish businesses with better potential. While pursuing prudent growth of existing silicone business, the Group will implement a diversified business strategy. In addition to expanding healthcare and hotel business, and participating in domestic environmental construction projects through the Joint Venture, the Group has launched efforts to explore domestic and overseas markets for its own-brand masks and medical devices in an attempt to complement the Group’s projects in the healthcare field, thereby increasing profit and diversifying business risks to create greater value for the Group.

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