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Public company info - China Apex Group Limited , 02011.HK

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China Apex Group Limited, 02011.HK - Company Profile
Chairman Yip Siu Lun Dave
Share Issued (share) 465,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Accessories & Leather Goods
Corporate Profile Business Summary: The Group continues to operate the zipper business. Performance for the year: The Group’s revenue for the year ended 31 December 2020, represented the revenue from zipper business, decreased to approximately HK$170.09 million as compared with approximately HK$205.80 million for the year ended 31 December 2019. Loss before taxation for the year ended 31 December 2020 was approximately HK$53.89 million (2019: approximately HK$43.00 million), represented an increase of approximately 10.89 million as compared to prior year. The overall gross profit of the Group decreased by approximately 35.3% from approximately HK$52.93 million for the year ended 31 December 2019 to approximately HK$34.24 million for the year ended 31 December 2020. In 2020, the overall gross profit margin decreased from 25.7% of last year to 20.1%. In 2020, the Group’s loss attributable to equity shareholders of the Company amounted to approximately HK$46.91 million (2019: approximately HK$44.18 million), representing an increase of loss of approximately 6.2% as compared to 2019. Business Review Finished Zippers and Sliders Revenue from sales of finished zippers and sliders decreased by approximately HK$34.80 million or 17.2% to approximately HK$167.42 million for the year ended 31 December 2020 (2019: approximately HK$202.22 million). The decrease was primarily due to the impact of the global outbreak of the COVID-19 including quarantine lockdown and travel restrictions, resulting in the decreasing number of sales orders from customer of the Group who are primarily OEMs who manufacture apparel products. The Group’s revenue was mainly derived from sales in Mainland China. Other countries or regions to which the Group sold its products for the year ended 31 December 2020 include but not limited to Hong Kong, Switzerland, Italy, India, Indonesia, Bangladesh, Germany, Korea, Vietnam, Tunisia and Jordan. Others Others represent items such as scrap material and zipper components. Revenue of other items reduced by approximately HK$0.91 million to approximately HK$2.67 million for the year ended 31 December 2020 (2019: approximately HK$3.58 million). Prospects: Affected by the outbreak of COVID-19 pandemic worldwide, final consumptions and exports were stagnant, consumption power of garment industry reduced. In addition, amid the escalation of the trade war between the US and China, the textile and garment industry of China was challenged by the sluggish domestic demand and foreign demand. However, the domestic demand and foreign market of textile and garment industry are recovering gradually as the COVID-19 pandemic became controllable basically and effectively by each country, and they actively promulgated a series of recovery policies.

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