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Public company info - Zall Smart Commerce Group Ltd. , 02098.HK

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Zall Smart Commerce Group Ltd., 02098.HK - Company Profile
Chairman Yan Zhi, Gang Yu
Share Issued (share) 11,783,000,000
Par Currency Hong Kong Dollar
Par Value 0.00333
Industry Property Development
Corporate Profile Business Summary: The principal activities of the Group are developing and operating of large-scale consumer product-focused wholesale shopping malls, and providing supply chain management and trading business, e-commerce services, financial services, warehousing and logistics services for the online and offline customers in PRC. Performance for the year: Revenue of the Group increased significantly by approximately 29.9% from approximately RMB56,116.1 million for the year ended 31 December 2018 to approximately RMB72,898.8 million for the year ended 31 December 2019. For the year ended 31 December 2019, the Group recorded a net profit of approximately RMB57.5 million, representing a decrease of approximately 95.5% over the amount of approximately RMB1,273.9 million for the year ended 31 December 2018. For the year ended 31 December 2019, profit attributable to equity shareholders of the Company was approximately RMB92.8 million (31 December 2018: approximately RMB1,371.3 million). Business Review Consumer product-focused wholesale The Group’s core project, the North Hankou International Trade Center (漢口北國際商品交易中心) has now formed more than 30 large specialized market clusters covering footwear and leatherware, branded clothing, hotel supplies, small merchandises, bedding, automobile and second-handed vehicles, hardware and electrical products, etc., with merchants reaching 32,000 operating stably. The total developed and developing area of market clusters exceeded 6.8 million square meters. The annual transaction amount achieved in 2019 was approximately RMB89.9 billion. During the year, it was honoured as “National Trading Market System-Demonstration Market on Transformation, Upgrade, Innovation and Development for 2018” (全國商品交易市場系統 — 二零一八年度轉型升級創新發展示範市場) and “The Most Influential Brand Market in China over the Past 40 Years of Reform and Opening-Up” (改革開放四十年全國最具影響力品牌市場). We also, as the market representative, shared the experience of transformation and upgrading in the National Key Market Training of the Ministry of Commerce (國家商務部全國重點市場培訓). In 2019, nearly 200,000 square meters were rented in the North Hankou International Trade Center throughout the year. Various new markets and businesses, including Central China Labour Insurance City (華中勞保城), City of Tail Product (尾貨城) and City of Flower, Bird, Fish and Pets etc., were opened in the North Hankou International Trade Center which further enhanced the scale of specialized markets in North Hankou. The Group has organized various large-scale marketing activities such as order fairs, internal purchase fairs, procurement days, exhibition fairs, exchange salons, etc. for a total of 41 times in 2019. Such events included the 10th Hankoubei Commodities Fair (漢交會) with the theme “Building a Dream for the Global and the Intelligent for Connecting the Future (築夢全球、智通未來)”, the 2nd China Central Import Commodity Expo (中國中部進口商品博覽會), the 5th Hotel Supplies Expo (酒店用品博覽會), the 1st Central China Labour Insurance City Expo (華中勞保城博覽會) and the New Year’s Products Street (年貨大街), all of which attracted over 200,000 citizens to visit and purchase during the event period. The Group has built a live broadcast industrial base for North Hankou E-commerce, built a top 30 industrial e-commerce live broadcast industrial park, cooperated with a number of e-commerce live broadcast platforms, and attracted dozens of MCN institutions to move in. North Hankou Business College (漢口北商學院), which offers specific training courses on broadcast, was established to help merchants in the market to quickly reform their supply and marketing model. Through various exhibition activities and innovate marketing model, popularity and prosperity of the markets were greatly promoted and a large number of merchants have been attracted. In 2019, the Group has continued to strengthen the national market procurement and trade pilot program and the priority support for the construction of key industrial parks in the Wuhan cross-border e-commerce comprehensive trial zone, comprehensively deepen the development of new foreign trade business, and become the only export industrial park in China that integrates market procurement, cross-border e-commerce and general trade clearance. The Group has conducted reconstruction and provided customs supervision workplaces to achieve direct customs clearance within the export commodity market. The ambient experience street zone of Wanguo City (萬國城) with a total gross floor area of approximately 140,000 square metres, which is mainly used to showcase, purchase and sell import and export commodities of various countries and invite investment and operation. We completed the first cross-border e-commerce export 9610 model (cross-border trade e-commerce) customs clearance, and established a cross-border e-commerce experience center, which is a breakthrough in cross-border e-commerce. Up to now, the North Hankou Market has introduced more than 60 international logistics service providers, cooperated to establish 11 bulk export international logistics lines and more than 140 small package export logistics lines, and built on its own and jointly built 99 overseas warehouses. Tianjin E-commerce Mall is the Group’s flagship project in Northern China. Portions of the commercial, trade and e-commerce zones of Phase I have gradually commenced operation. Against a background of cooperative development in the Beijing-Tianjin-Hebei region and the easing of Beijing’s non-capital core function, Tianjin E-commerce Mall continuously approached Beijing Tianya Apparel Market (北京天雅服裝市場), New Century (新世紀) and other major customers. At the same time, Tianjin E-commerce Mall actively adjusted its business model to set a foothold on the local market of Tianjin, deeply explored areas such as flower, bird and fish, antiques and home decoration and building materials, and added areas of more than 70,000 square meters for business solicitation and more than 300 merchants. Tianjin E-commerce Mall Project Phase II, Zall World City (卓爾世界城), is also actively pursuing the design and optimization of the project. Supply chain management and trading The Group has acquired and established various companies in the industrial internet sector focusing on the construction and operation of intelligent trading and service platforms. The Group has established B2B trading platform matrix for agricultural products, chemicals and plastic raw materials, black metals, non-ferrous metals and energy, etc. In 2019, the development of industrial internet is changing rapidly amid the economic downturn, and the B2B field of agricultural products is also facing downward pressure due to the impact of macro economy. Shenzhen Sinoagri, a large-scale B2B platform for agricultural products of the Group, strived to identify new demands and opportunities for growth in the course of change, and focused on the full acceleration of service model innovation, product categories and layout of new channels and the process of digitization. Shenzhen Sinoagri consistently made breakthrough in terms of industry chain, industrial level and ecology of industry. On the basis of the existing products such as sugar and cocoon silk, Shenzhen Sinoagri has expanded to various bulk agricultural products such as edible oil, grain and timber and their sub-segments, and rapidly expanded its customer base by leveraging its resource advantages. Shenzhen Sinoagri cooperated with Marubeni Corporation in Japan to establish an e-commerce platform for coffee related products, so as to gradually realize the strategic layout of Shenzhen Sinoagri in the coffee industry chain. In order to continuously build the infrastructure for value chain of bulk agricultural products, Shenzhen Sinoagri initially established a technology system to share with ERP, warehousing and logistics, big data, CA certification and third-party financial institutions. In 2019, Shenzhen Sinoagri completed the continuous iteration of the big data platform V2.0 and the blockchain platform, and the full operation of the Mutian ERP and trading system enabled the online business to be fully implemented, realizing one-stop self-service processing for all businesses including transaction settlement, financing settlement, fund payment and electronic contracts. At the same time, under the strategic layout of Shenzhen Sinoagri’s agricultural industrial ecosphere, the Company will build financial technology to enhance the underlying service capacity, reduce the transaction costs of the industry and improve the efficiency of financial services by constructing financial online platform. The financial services further extended to the upstream to deepen the agriculture-related business, helped farmers, cooperatives and processing enterprises to build stable trading relationships with financial instruments, and assisted in the in-depth development of order agriculture with its own strength. For the year ended 31 December 2019, the platform had 34,254 new customers, with 113,155 accumulated registered users and realised operating revenue of approximately RMB33.94 billion. In 2019, the Company won a number of honours and awards, including No. 483 among the Top 500 Enterprises in China (中國企業500強), No. 10 among the Top 100 Industrial Internet Platforms in China (中國產業互聯網平台百強榜) and No. 36 among the Top 500 Enterprises in Shenzhen (深圳500強企業). As a chemical e-commerce operator that leads the future, HSH International Inc. (“HSH”) is committed to promote the infrastructure construction of the “Internet + chemicals and plastic raw materials”, opening up the closed loop of transaction of information flow, logistics and capital flow in the entire industrial chain for chemicals and plastic raw materials. It aims to construct HSH as a new ecosystem for the entire industrial chain of chemical and plastic raw material industry through an innovative mode of distributed sharing platform. In 2019, HSH adjusted its strategic planning, further expanded its platform business, shifted from self-operated to self-operated + platform business and provided consignment and pre-sale business according to the requirements of upstream resources and downstream customers. It took key commodities as a breakthrough point to develop business and generate revenue. At the same time, the Group promoted the import business of HSH, recruited talents, expanded the channels for supply of goods and increased the channels for making profits. For the year ended 31 December 2019, the number of customers of the HSH platform reached 41,703, and the annual operating revenue was approximately RMB8.89 billion. Shanghai Zall Steel E-commerce Co., Ltd (上海卓網鏈電子商務有限公司) (“Zall Steel”) mainly builds integrated service platform for intelligent trading and supply chain services for upstream, midstream and downstream supply chain partners of steel industry chain in the bulk black commodity sector. Since its establishment on 23 March 2018, Zall Steel has established business partnerships with approximately 12,000 upstream and downstream customers. For the year ended 31 December 2019, Zall Steel realized operating revenue of approximately RMB20.9 billion. Zall Steel will continue to promote offline and online service integration, focus on three core platform products and enhance the comprehensive online integrated service capabilities of the platform with six service platforms, namely “intelligent trading, supply chain finance, warehousing and logistics, intelligent logistics, Zall Steel Cloud SAAS service and data information”. In 2019, Zall Steel won a number of awards, including “China’s Top 100 B2B Enterprises (中國B2B百強企業)”, “E-commerce Supply Chain B2B Trading Model Innovation Enterprise (電商供應鏈B2B交易模式創新企業)” and “China Metal Material Distribution Association AAA Credit Enterprise (中國金屬材料流通協會AAA級信用企業)”, and was recognized as the second batch of “Shanghai Municipal Private Enterprise Headquarters (上海市民營企業總部)” enterprise. CIC of the Group provides integrated services covering transaction matching, custom clearing and declaration, supply chain logistics, trade financing, supply chain finance and global compliance regulation, as well as provides trade data and trade index services, realizing intelligentization of the whole process of bulk commodity trading. For the year ended 31 December 2019, the CIC trading platform recorded accumulative transaction amount of over USD10.37 billion and over 4,600 registered users, which completed our business layout in China, Singapore, Australia, India, Malaysia and various countries in Asia, focusing on transactions of non-ferrous metals, energy and other products. In order to guarantee the smooth operation of finance services for supply chain, CIC and Marubeni Corporation in Japan, one of the Global 500 enterprises, jointly established the ZMA Smart Capital Pte. Ltd. (“ZMA”). Taking advantage of the capital and opportunities in the international market and Singapore government’s support for the finance industry of bulk trading supply chain, ZMA continuously enhanced its electronic financial services and provided effective risk management by relying on CIC’s blockchain technology, providing new solutions for international electronic financial services, continuously reducing costs, expanding channels, improving transaction efficiency and boosting the development of international trade. Through the online and offline integration development in recent years, the Group has established and operated B2B trading platforms with significant influence for agricultural products, chemicals, plastics, ferrous and non-ferrous metals and energy, etc., and its supply chain management and trade business grew significantly. The Group will further expand into other sectors through organic development or merger and acquisition when appropriate opportunity arises, continuously enrich and perfect Zall Smart’s intelligent ecosphere and further enhance operating efficiency. Warehousing and logistics services In respect of warehousing services, Zall Cloud Warehouse (卓爾雲倉), a subsidiary of the Group, focuses on the provision of offline warehouse goods custody and distribution services, warehouse leasing and financial products regulatory services for enterprises and their upstream and downstream distributors and wholesale markets through the integration of warehousing management, physical delivery, regulatory network, logistics and transportation, financial risk regulation and other resources within the trading sections of the ecosystem. Zall Cloud Warehouse has actively realised its national layout, with businesses distributed in over 50 cities, such as Shanghai, Wuhan, Ningbo, Nanning, etc. The number of regulatory inventory warehouses reached 350. Among them, 38 are regulatory warehouses with Internet of Things and advanced devices, which can achieve a visualized intelligent supervision model through the establishment of Zall Cloud Warehouse Intelligent Supervision Center (卓爾雲倉智能監管中心) in Wuhan. Meanwhile, Zall Cloud Warehouse deepened its integrated warehousing and distribution service capabilities in 2019, and the Group’s first intelligent warehouse was completed at the end of 2019, providing efficient one-stop services for industries such as electrical appliances, maternal and child, shoes and clothing and fast-moving consumer goods. In the future, Zall Cloud Warehouse will utilize the five core cities of Wuhan, Guangzhou, Shanghai, Chengdu and Beijing as the base points and actively establish cooperative branch warehouses throughout the country. Through covering major cities across the country with the Zall Cloud Warehouse platform management and alliance, we will build an intelligent warehousing service platform with significant influence in China. In respect of logistics services, based on the development strategy of “Technology Driven + Supply Chain Driven”, Zallsoon (卓集送), a subsidiary of the Group, made innovation and development in logistics informatization and supply chain management, and helped the logistics industry to reduce costs and increase efficiency with the help of technology in 2019, in addition to providing enterprise customers with one-stop logistics services such as intracity express transportation, long-distance freight transportation, cold chain warehousing and distribution. In addition to creating our core proprietary intellectual property, Zallsoon has so far obtained 12 software copyrights and is applying for 11 patent inventions. Zallsoon was recognised as the “2018 National High and New Technology Enterprise” (二零一八年度國家高新技術企業) jointly awarded by the Bureau of Science and Technology of Hubei Province (湖北省科學技術廳), the Bureau of Finance of Hubei Province (湖北省財政廳) and the Tax Bureau of Hubei Province of the State Administration of Taxation (國家稅務局湖北省稅務局) in March 2019, as well as the honour of “Double soft (雙軟)” awarded by Hubei Software Industry Association (湖北省軟件協會). As of 31 December 2019, there was 115,000 drivers on the Zallsoon logistics system platform, and the accumulated number of orders in aggregate was over 100 million. Prospects: Originated from the offline wholesale market, Zall Smart Commerce has undergone many years of internet transformation with experience in the physical market and new economic operations. The core value of the wholesale market is the level of prosperity in terms of transactions. Online transformation will help the prosperity of the offline markets, which in turn will contribute to the flow and scale of the online platforms. We will continue to develop the existing offline markets such as Tianjin E-commerce Mall and North Hankou International Trade Center and no material merger and acquisition is planned going forward. We will accelerate the integration of online and offline applications, and will bring greater development potential to Zall Smart through the mutual empowerment and joint development of online and offline platforms. Zall Smart Commerce will continue to adhere to the main track of B2B and supply chain services with innovation, so as to build an intelligent trading system with high efficiency and low cost in a win-win situation and connecting global business intelligently. We look forward to working together with more companies in the PRC and overseas to achieve integration and symbiosis, redefining B2B and even the way in which the world trades, and jointly welcome the beginning of the new trade era. EVENT OCCURRED SINCE THE END OF THE YEAR ENDED 31 DECEMBER 2019 Since the outbreak of the novel coronavirus (COVID-19) (the “Pandemic”), many provinces and municipalities in the PRC, including Hubei province, where the head office of the Group is located, have implemented emergency public health measures and taken various actions to prevent the spread of the Pandemic, including, among others, imposing conditions and restrictions on enterprises to resume work after the Chinese New Year holiday. The suspension of work and limited services of transportation have resulted in a general disruption of production, supply chain and logistics services across the PRC, which has led to a decrease in transaction amount and volume on various online commodity trading platforms operated by the Group of, among others, agricultural products and chemicals, and slowed down the recovery of receivables which negatively influenced the working capital. The Pandemic also has led to a temporary closure of offline commodity trading markets operated by the Group (such as the North Hankou International Trade Centre (漢口北國際商品交易中心) in Wuhan, Hubei province) and possible delay in construction progress of property development projects in Tianjin and Jingzhou. In view of the aforesaid impacts, the Group has been closely communicating with the suppliers on its online commodity trading platforms and offered certain concessionary measures to the tenants in the North Hankou International Trade Centre in order to assist and facilitate them to resume operations as soon as practicable. With the gradual lifting of restrictions by the local government in Wuhan in or around the early April in 2020, the North Hankou International Trade Centre has resumed operations recently and the Company will continue to assess the impact of the Pandemic on the Group’s business operations and will take appropriate measures as and when necessary.

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