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Public company info - Zhengye International Holdings Company Limited , 03363.HK
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Zhengye International Holdings Company Limited, 03363.HK - Company Profile
Chairman Hu Zheng, Hu Hancheng
Share Issued (share) 500,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Printing, Publishing & Packaging
Corporate Profile Business Summary: The principal activities of the Group are manufacturing and sale of paper, paperboard and paper-based packaging products. Performance for the year: Profit and comprehensive income attributable to equity owners for the period amounted to RMB82,184,000, a year-on-year decrease of 24.85%. Basic earnings per share was approximately RMB16 cents. Business Review The Group is principally engaged in the production and sale of corrugated medium paper from recycled waste paper as well as the production and sale of paper-based packaging products used in consumer products such as household air conditioners, food seasonings and small household electronic products. The Group also provides customer with services for packaging design, printing, logistics, etc. of paper-based packaging, and provides customers with integrated packaging solutions. The Group is committed to become China’s leading pioneer of environmental packaging enterprise. The Group’s products mainly include corrugated medium paper and paper-based packaging products (i.e. watermark cartons, colour printing cartons and honeycomb paper-based products). The Group’s main production bases are located in Zhongshan, Zhuhai in Guangdong Province, and Wuhan, Zhengzhou in Central China, and Shijiazhuang in Northern China. The Group is currently comprised with the operation of six wholly-owned subsidiaries and one holding company in the above regions. The Group’s paper packaging products have a high market share in sub-segments such as air-conditioning packaging and condiment packaging, and have won the trust of many well-known domestic and foreign brands that provide customers with quality products and services. The low-weight and high-strength corrugated medium paper products produced by the Group have won the favor of customers in the Pearl River Delta market in Guangdong, leading to a steady increase of its market share. In 2019, the Group’s papermaking segment was affected by Sino-U.S. Trade frictions and the downturn of the international and domestic economies during the year, which downstream orders in the packaging carton industry decreased significantly, and the price of raw paper fell sharply. Under the difficult market situation because of the oversupply in the domestic paper industry, the Group continued to strengthen research and development of new products during the period, which successfully produced 48 g/m2 AA grade low-quantity high-strength corrugated medium paper to increase the marketing efforts to successfully open new customers. At the same time, it improved equipment production efficiency, increased product capacity, reduced unit cost consumption in order to premise of stable product quality to achieve the increase about 1.60% in sales volume of the papermaking segment compared with the same period last year. However, due to the unit price of sales decreased by 16.44% compared with last year, it recorded the revenue of RMB1,559,861,000 during the year, which decreased by RMB282,942,000 compared with the same period last year; the profitability increased by 13.27% compared with the same period last year by contrast, which is better profit level in the industry. During the period, the Group signed a sale and purchase agreement to acquire a paper mill in Jiangxi in January 2020, and completed the transaction on 1 March 2020. This paper mill owns 200,000 tons of paper production capacity approval and which has been completed into production of 100,000 tons, this paper mill will be another new momentum to the future development of the Group’s papermaking segment. The packaging segment of the Group was greatly affected by the contraction of orders from downstream customers in 2019, which decreased by 14.81% approximately during the year, the unit price of products also fell by around 4.57% simultaneously. The revenue in the packaging segment recorded RMB807,290,000, a decrease of RMB197,923,000 compared with the same period last year, its profit also decreased by approximately 70.02%. Prospects: In 2020, it is expected that the trade friction between China and the United States and the outbreak of the new novel coronavirus (COVID-19) epidemic will cause the Chinese economy to be oppressed and make Chinese enterprises encounter unprecedented difficulties. However, the economic fundamentals of China remain stable while China’s industrial economy is still making progressing in transformation. China’s status as the world’s largest consumer, exporter, and consumer product manufacturer remains unchanged, and it has further strengthened that Chinese enterprises continue to move towards reform and innovation. The two major paper production bases of the Group will ban the burning of raw coal and use clean energy such as natural gas in accordance with government requirements in 2020. It is expected that it will have a certain impact on the Group’s operating efficiency in the short term. However, for the long-term growth and development, the Group will face difficulties and turn crisis into opportunities, vigorously promote technological research and development, improve equipment operation efficiency, and improve the overall competitiveness and profitability of the Group with products that better fulfill market demand and more comprehensive and high-quality services. At the same time, the Group will also continue to pay attention to investment projects with development prospects, and develop steadily while maintaining the capital structure, and strive to create higher returns for shareholders.

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