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Public company info - AMVIG Holdings Ltd. , 02300.HK
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AMVIG Holdings Ltd., 02300.HK - Company Profile
Chairman -
Share Issued (share) 929,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Printing, Publishing & Packaging
Corporate Profile Business Summary: The Group is principally engaged in the printing of cigarette packages and manufacturing of transfer papers and laser film. Performance for the year: For the Reporting Period, the Group’s turnover was HK$2,408 million, a decrease of 3.8% as compared to last year. Profit attributable to owners of the Company was HK$313.3 million in 2019, an increase of 17.6% as against that of last year. Excluding one-off income and expenses, exchange differences and on a constant currency basis, the Group’s net profit attributable to owners of the Company registered an increase of 1%. Basic earnings per share were HK33.7 cents representing an increase of 17.4%. Business Review Turnover for the year 2019 was stable, despite the rate of growth slowing down in the second half due to the disruption caused by the relocation of our Beijing Plant. Disregarding this factor, the Group’s turnover grew in line with the market. In addition, despite inflationary pressure, costs and expenses were contained at a low level via a series of cost cutting measures and productivity improvement initiatives. During the year, there were a number of one-off items which include gains on disposal of an associate and a subsidiary, certain expenses in relation to the relocation of the Beijing Plant and Dongguan Plant, as well as the exchange loss due to the depreciation of Renminbi against Hong Kong dollars arising from the Group’s borrowings denominated in Hong Kong dollars. Excluding these one-off items, the profit attributable to owners of the Company on a constant currency basis was similar to that of last year. The operational cash flow of the Group continued to be strong and the net operational cash inflow amounted to HK$514 million. Prospects: Although 2019 was a stable year both for the Group and China tobacco industry, there will be a lot of challenges in the coming year. The COVID-19 outbreak poses unprecedented threats not only to the Group, our staff and customers, it had impacted the operations of the businesses worldwide due to the absence of workers and disruption of supplies of raw materials. Both the customers and the Group had taken extended leave in the first quarter of the year. The full extent of financial impact the virus outbreak has on the Group is unknown as of this moment. The second challenge is the revision of tendering rules in Yunnan Province, which put more emphasis on price and poses pressure on profit margin for our plants in Yunnan. The Chinese government has adopted various measures attempting to effectively control the spreading of the COVID-19, including quarantine. Such measures have caused temporary suspension of economic activities in China which indirectly affected the global economy. Following the outbreak of the COVID-19, the Group has reviewed and made sure its health and safety measures across our entire operation are adequate and in compliance and implemented contingency plans to ensure that any potential impact on our business operations can be minimised. Facing these tough challenges ahead, management will still endeavour to expand the market by leveraging on its networking resources. We will also continue to invest in research and development so as to better serve the customers’ needs. Internally, we will continue to streamline the process on the shop floor. Reduction in raw material costs and productivity improvement will continue. Such measures are in place with a view to counteracting the adverse factors that may affect our business in the near future. Management would like to take this opportunity to show our appreciation to the continued support from all our shareholders, suppliers and customers. We would also like to extend our gratitude to all our staff for their continuous dedication, commitment and contribution to the development of the Group during this turbulent time. The Group will strive to overcome the difficulties and challenges ahead to create higher return to our shareholders.

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