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Public company info - Yi Hua Holdings Ltd. , 02213.HK
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Yi Hua Holdings Ltd., 02213.HK - Company Profile
Chairman Chen Jianren
Share Issued (share) 1,003,000,000
Par Currency Hong Kong Dollar
Par Value 0.005
Industry Department Stores & Shopping Malls
Corporate Profile Business Summary: The principal activities of the Group are operation of department stores, property investment, property development and property management business in the PRC. Performance for the year: For the year ended 31 December 2018, the Group recorded a revenue of approximately RMB773.3 million, representing an increase of approximately 2.5% or approximately RMB19.0 million year on year. For the year ended 31 December 2018, the total gross profit were approximately RMB354.5 million, an increase of approximately RMB42.2 million, or approximately 13.5%, from approximately RMB312.3 million for the year ended 31 December 2017. For the year ended 31 December 2018, the loss for the year was approximately RMB115.2 million, an increase of approximately RMB105.4 million, or approximately 1,075.5%, from approximately RMB9.8 million for the year ended 31 December 2017. Business Review For the year ended 31 December 2018, the Group’s revenue was approximately RMB773.3 million, representing an increase of approximately 2.5% over the last year. Gross profit (revenue less purchases of and changes in inventories and constructions of and changes in completed properties held for sale) was approximately RMB354.5 million, representing an increase of 13.5% over the last year. Operating loss was approximately RMB51.7 million, compared to an operating profit of RMB47.8 million last year. Loss attributable to owners of the Company was approximately RMB117.4 million, representing an increase of 920.6% over the last year. New business of convenience stores During 2018, the Group has continued to open convenience stores. As at 31 December 2018, the Group has opened 85 convenience stores, of which 36 stores are direct-operated and 49 stores are franchised. The Group will continue to open more convenience stores which can supplement our supermarkets’ deficiencies. Game Console business The Group’s 49% held associate, Subor Cultural Development Company Limited (the “JV Company”) has been cooperating with Advanced Micro Devices, Inc. (“AMD”) to develop a semi-custom system-on-chip (“SOC”) solely for the use of the JV Company’s game console products. The game consoles have been formally launched in the China Joy Expo 2018 held on 3 August 2018 in Shanghai. On 14 May 2018, the Olympic Council of Asia announced that Electronic sports (“Esports”) have been incorporated as a demonstration sport in the Jakarta Palembang 2018 Asian Games, and has considered that Esports could be included as an official medal sport at the 2022 Asian Games. From games played by a small group of people to the Esports item in the Asian Games, it is expected that Esports will be played in the Olympic Games. Against this backdrop, the development of Esports in China is accelerating. Our game console is using Windows 10 for the operating system, and it is not just a game console but also a personal computer. As tested, the game console meets the standards of the Esports console requirement and can be used in Esports competitions. Our game console is above average in terms of functionality. With the promotion and development of Esports, the Board expects that the market prospects of our game console will be promising. Launching our game console is only the first step to enter the Esports market of China. The JV Company will launch its own online game platform in the first half of 2019, and several of the games are exclusive games being invested in by the JV Company. As the online game platform becomes available on the internet, the Company expects that the sales volume of the game console will be driven up. Opening of a shopping mall in Yunfu The shopping mall located in Yunfu City acquired in 2017 has been opened in September 2018 and the occupancy rate is almost 100%. The full occupancy rate is attributable to the prime location of the shopping mall and this acquisition set a model for our future potential acquisition. Prospects: In 2019, the economy of China will face even more complicated and severe pressure from the external environment over that of 2018. The Group will endeavour to maintain a sound strategy to capture the opportunities arising from consumption upgrade. At the same time, it will place emphasis on increasing the business size and efficiency and strengthen the control of costs and expenses to vigorously push ahead the Group’s healthy and sustainable development with a view to generating more attractive returns for the shareholders. Its areas of focus are mainly as follows: 1. Continue to transform the department store business model to a shopping mall business model and push ahead the upgrade of stores to shopping mall while fully implementing the store renovation work in 2019; focus on exploring the potential of store results performance and further consolidate the leading position of key stores. 2. Expedite the establishment of convenience stores to attain economies of scale as soon as possible; focus on regions with development potential and enhance the efficiency of existing stores. Apart from the development priorities of the existing businesses mentioned above, the Group’s major stores located in the Greater Bay Area enjoy the geographical advantages of the Greater Bay Area. The Group will proactively look for good investment projects in the Greater Bay Area to enhance the Group’s profitability. Apart from strengthening its principal businesses and focusing its resources on developing the convenience store business, the Group will continue to seek opportunities as appropriate to secure properties in prime locations at below market prices so as to generate attractive investment returns to the Group.

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