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Public company info - Jinhai Medical Technology Limited , 02225.HK
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Jinhai Medical Technology Limited, 02225.HK - Company Profile
Chairman Chen Guobao
Share Issued (share) 1,230,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Other Support Services
Corporate Profile Business Summary: The principal activities of the Group are provision of manpower outsourcing and ancillary services, provision of dormitory services, and provision of IT services and construction ancillary services for the building and construction industry. Performance for the year: The Group’s revenue increased from approximately S$47.5 million for FY2018 to approximately S$51.9 million for FY2019. The Group’s gross profit increased from approximately S$8.9 million for FY2018 to approximately S$12.4 million for FY2019, while gross profit margin rose from approximately 18.7% for FY2018 to approximately 23.8% for FY2019. The Group recorded a loss of approximately S$0.69 million in FY2019 (FY2018: S$3.54 million). The basic loss per share was 0.06 Singapore cent (2018: 0.29 Singapore cent). Business Review The Group is a Singapore-based service provider and mainly provides manpower outsourcing and ancillary services to building and construction contractors in the Republic of Singapore (“Singapore”). To a lesser extent, the Group also provides dormitory services, IT services and construction ancillary services (which comprise warehousing services, cleaning services and building maintenance works) in Singapore. The Group commenced the business of providing manpower outsourcing services in Singapore in 2006. For the Year under review, the Group recorded revenue of approximately S$51.9 million, an increase of approximately 9.4% over the previous year, benefiting from the recovery in Singapore’s construction demand in 2019. In addition, gross profit increased by approximately 39.2% to approximately S$12.4 million in FY2019 from approximately S$8.9 million in FY2018, while gross profit margin increased from approximately 18.7% in FY2018 to approximately 23.8% in FY2019. Prospects: In January 2020, the Building and Construction Authority of Singapore projected the total construction demand to range between S$28 billion and S$33 billion in 2020, of which public sector construction demand is expected to reach between S$17.5 billion and S$20.5 billion. This is about 60% of the projected demand for 2020. Public sector construction demand is expected to be spurred by major infrastructure projects, such as the Integrated Waste Management Facility, infrastructure works for Changi Airport Terminal 5, Jurong Region MRT Line and Cross Island MRT Line. Although this may potentially translate into greater business opportunities for the Group, the Group remains cautious and expect to face some headwinds in 2020 given the recent outbreak of the novel coronavirus (the “Coronavirus”) which is likely to affect the demand for manpower for construction works due to construction projects schedule delays amidst disruption to construction materials supply. On the other hand, it is expected that the supply of manpower for construction works may be affected as a result of increased sick leave due to health advisories on medical leave of up to 5 days for workers with respiratory symptoms and unfounded fears of the Coronavirus. Under such circumstances, the Group has taken proactive steps to minimise any negative economic impact on its manpower outsourcing business in Singapore. The aforesaid impact which was beyond the control of the Group, may adversely affect the financial results of the Group for the six months ending 30 June 2020. The Board will continue to assess the impact of the Coronavirus on the Group’s business operations and financial performance and closely monitor the Group’s exposure to the risks and uncertainties in connection with the Coronavirus.

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