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Public company info - Tian Chang Group Holdings Ltd. , 02182.HK

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Tian Chang Group Holdings Ltd., 02182.HK - Company Profile
Chairman CHAN Tsan Lam
Share Issued (share) 620,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Industrial Goods
Corporate Profile Business Summary: the Group is principally engaged in manufacturing and sales of electronic cigarettes products (“e-cigarettes products”) and providing integrated plastic solutions in Hong Kong and in the People’s Republic of China (the “PRC”). Performance for the year: During the year, the Group’s total revenue amounted to approximately HK$1,251.1 million, representing a year-on-year increase of approximately 30.3% (2018: HK$959.9 million). The Group recorded a gross profit of approximately HK$313.4 million (2018: HK$237.8 million) with a gross profit margin of approximately 25.0% (2018: 24.8%). The Group recorded a profit for the year attributable to owners of the Company of approximately HK$127.2 million (2018: HK$75.8 million). Basic earnings per share attributable to equity holders of the Company were approximately HK20.52 cents (2018: HK12.80 cents). Business Review In 2019, the Sino-US trade war heated up and Hong Kong experienced a half-year social unrest. It was an uneasy year for most of the local businesses and especially for those with manufacturing and trading activities in the US market such as the Group. Despite of this, the Group grasped the opportunity to work more closely with its business partners and through its competitive edge in the technical capabilities and quality control, the Group recorded a historically high revenue and net profit for the year ended 31 December 2019. As a well-established provider of integrated plastic solutions in the People’s Republic of China (the “PRC”), the Group operates business through two segments. The integrated plastic solutions segment is engaged in mould design and fabrication services as well as plastic component design and manufacturing services. The electronic cigarette (the “e-cigarettes”) products segment is engaged in the manufacturing and sales of e-cigarettes products under the brand names owned by a well known tobacco group. The Group distributes its products within the domestic market and to overseas markets, including Europe, Asia and the United States. During the year, the Group’s total revenue amounted to approximately HK$1,251.1 million, representing a year-on-year increase of approximately 30.3% (2018: HK$959.9 million). The Group recorded a gross profit of approximately HK$313.4 million (2018: HK$237.8 million) with a gross profit margin of approximately 25.0% (2018: 24.8%). The Group recorded a profit for the year attributable to owners of the Company of approximately HK$127.2 million (2018: HK$75.8 million). Basic earnings per share attributable to equity holders of the Company were approximately HK20.52 cents (2018: HK12.80 cents). Since the listing of the Company’s shares on the Main Board of The Stock Exchange of Hong Kong Limited in 2018, the Group has been continuously upgrading its production capacity through the addition of new machines for plastic injection and mould fabrication, as well as expansion of the factory premises. These new capacities provided space for production lines of new products and enabled the Group to increase productivity for current products. During the year ended 31 December 2019, the capital expenditure incurred by the Group amounted to approximately HK$149.0 million, including HK$85.2 million for the addition of new machines and HK$49.1 million for the construction of new factory premises. Prospects: In 2020, the Board expects that the outbreak of COVID-19 will cause significant downturn in the global economy. It is also expected that the business activities will be slowed down due to the quarantine control in many countries. The demand for the Group's clients’ products may be affected due to uncertainty of market demand. The process of product development will be prolonged due to travel restriction between client and the Group's production plants. the Group foresees that 2020 will be challenging and will adopt a prudent business strategy. In response to these uncertainties, the Group shall continue to search for new market opportunities and aim to diversify the Group's product portfolio through the Group's research and development. The new factory premises under construction will provide room for the Group to locate more new product production lines, innovate the Group's design through new product development and achieve automated production with addition of highly automated machineries. the Group believes that all of these measures will provide solid foundation for the Group to be well-equipped for grasping the momentum of growth when the difficult time is over. The outbreak of COVID-19 in early of 2020 has badly hit the global economy. It is expected that the pandemic will adversely affect the global business for a substantial time in 2020, placing difficulties and challenges ahead. Despite this, the Group will overcome these difficulties by seeking new market opportunities and adjusting the Group's existing production base to meet the market needs for new products. At the same time, the Group will adopt a prudent approach and adjust the Group's strategies to mitigate the expected downward risks as a result of the slowing down economic activities. These include lowering unit labour cost by continuous enhancement of production processes through enhancing the Group's level of automation and construction of new factory space to prepare for the expected demand of new products in the market. These short to medium term measures will consolidate the foundation of the Group and get the Group well-equipped to grasp the opportunities when the economy rebounces after this difficult time.

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