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Public company info - SMC Electric Limited , 02381.HK
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SMC Electric Limited, 02381.HK - Company Profile
Chairman Yung Kwok Kee Billy
Share Issued (share) 2,000,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Household Appliances
Corporate Profile Business Summary: The Group engages in the manufacturing and selling of electric tools and sourcing and selling of electric fans. Performance for the year: For FY2017, FY2018 and FY2019, the Group’s revenue were approximately HK$251.0 million, HK$266.1 million and HK$278.0 million, respectively, and its net profit were approximately HK$31.2 million, HK$34.6 million and HK$45.4 million, respectively. Business Review The products sold by the Group can generally be classified into the (i) selling of electric tools and electric fans to overseas customers under their respective brands and (ii) selling of electric fans under the Group’s own brand ‘‘SMC’’ to the domestic and overseas markets. For the sales to the respective brand owners, the Group manufactures cordless fans, work lights and vacuum cleaners under the two brands for the U.S. Customer, a Fortune 500 company, in the U.S.. The Group also sources and sells different types of electric fans including ceiling fans, wall-mounted fans, stand up fans and orbital fans under the Group’s ‘‘SMC’’ brand, and are sold to distributors and retailers mainly based in Asia, Africa and Oceania. The Group also sells electric fans under Customer A’s brand to Customer A, a Fortune Global 500 company. The Group’s history can be traced back to the 1950s. Since then, it has developed, marketed and sold electric fans under its own ‘‘SMC’’ brand in Hong Kong and further expanded its electric fans market to overseas by selling its products to regions such as the Americas, Europe, Oceania, Africa and the rest of Asia. In 2003, at the request of the Group’s U.S. based customer, started manufacturing and selling electric tools. Electric fans sold under the Group’s own ‘‘SMC’’ brand are principally sold to distributors and retailers in Asia, Africa and Oceania, where these distributors and retailers would then sell the electric fans to other retailers and end consumers. Further, a majority of the electric tools are sold to the Americas. As at 31 December 2019, the Group had 172 distributors and retailers in different parts of the world. The Group also directly sells its electric fans to end customers in Hong Kong. The Directors believe this business model is an effective way for the Group to maintain and expand its sales of its ‘‘SMC’’ products to overseas markets without incurring significant costs. Prospects: The Group intends to maintain and further strengthen its position in the electric fans and electric tools export industry and to expand its business by implementing the following business strategies: • Improve the Group’s efficiencies in its daily operations • Strategically expand the Group’s manufacturing capabilities through vertical integration, including investing in the manufacturing process for DC motors, battery pack and LED lights production • Devote resources on new products and applications • Set up an e-commerce sales function to improve the reach of the Group’s sales network.

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