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Public company info - China Greenfresh Group Co. Ltd. , 06183.HK

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China Greenfresh Group Co. Ltd., 06183.HK - Company Profile
Chairman Shu Zhongwen
Share Issued (share) 1,518,000,000
Par Currency U.S. Dollar
Par Value 0.01
Industry Agricultural, Poultry & Fishing Production
Corporate Profile Business Summary: The Group is principally engaged in mushroom plantation, production of canned food and other processed food, trading of food and other products, domestic and overseas sales platform for edible fungi and its processed products as well as research, development and sales of edible fungi products for general healthcare. Performance for the year: The revenue of the Group decreased by approximately RMB57.21 million or 5.38% from approximately RMB1,064.25 million for the year ended 31 December 2017 to approximately RMB1,007.05 million for the Year, During the Year, the Group recorded profit before tax of approximately RMB152.42 million (2017: RMB187.62 million), representing a slide down of approximately 18.76%. The Group’s profit for the Year attributable to owners of the Company was approximately RMB143.70 million (2017: RMB184.55 million), representing a decrease of approximately 22.14%. During the Year, net profit of the Group decreased by approximately RMB36.78 million to approximately RMB147.24 million (2017: RMB184.03 million); net profit margin was approximately 14.62% (2017: 17.29%), representing a drop of approximately 2.67%. It was primarily due to the equity-settled share-based payments of approximately RMB16.35 million (2017: RMB7.43 million). Excluding the said payment, net profit of the Group for the Year would be approximately RMB163.59 million, representing a decrease of approximately 14.56% as compared to that of 2017, and net profit margin would be approximately 16.24%. Basic earnings per share attributable to owners of the Company for the Year was approximately RMB12.88 cents (2017: RMB17.19 cents). Business Review King Trumpet Mushrooms During the Year, the segment of king trumpet mushrooms maintained seamless production throughout the Year under the premises of quality and safety guarantee, which led to satisfaction of the customers’ demands of “stable quality” and “stable production volume” of fresh edible fungi. Currently, the king trumpet mushrooms remains the largest contributor to the Group’s revenue. During the Year, the segment of king trumpet mushrooms recorded a sales revenue of approximately RMB352.90 million, representing approximately 35.04% of the annual revenue of the Group. Button Mushroom, Straw Mushroom and Shiitake Mushrooms During the Year, to comply with the higher standard of requirement in environmental protection from the national and local government and fully enhance production skills, the Group phased out obsolete production facilities for button mushroom and straw mushroom, resulting in halt in all button mushroom and straw mushroom production and sale. The Group set up a modern cultivation plant for shiitake mushroom in Pingquan County, Hebei in 2016, which introduced business of industrialized cultivation of shiitake mushroom. During the Year, the segment of shiitake mushrooms recorded a sales revenue of approximately RMB26.07 million, representing approximately 2.59% of the annual revenue of the Group. Healthcare Products Edible fungi healthcare products is an important step of the Group towards extension of industry chain and has also represented a milestone of the business transformation and upgrading in 2018. Up to date, the Group has 10 kinds of products under two product series of its own brands, namely, four kinds of products under the Kangbao series including ECONB (康益寶), FUSION (福祿仙), COLLAGEN ESSENCE (膠原精華) and LACTOBACILLUS (素然), and the six kinds of products under the 520 International series including “宜延壽”, “植元”, “益延禧”, “冉然”, “西妃寶” and “鎖二喬”. All products are produced and processed in Japan and sold to Singapore, Japan and Hong Kong. During the Year, the segment of edible fungi products for general healthcare achieved a sales revenue of approximately RMB142.06 million, accounting for approximately 14.10% of the annual revenue of the Group. Canned Food Being one of the earliest developed business of the Group, the canned food segment mainly includes production and sales and overseas distribution of canned fruits, canned vegetables and canned edible fungi. During the Year, the segment of canned food achieved a sales revenue of approximately RMB79.12 million, accounting for approximately 7.86% of the annual revenue of the Group. Other Processed Food Products Segment of other processed food products primarily involves sales of edible fungi dried goods and instant meals. During the Year, the sales revenue from the segment of other processed food products was approximately RMB19.35 million, accounting for approximately 1.92% of the annual revenue of the Group. Trading through Domestic Network Through the merge and acquisitions of four fresh edible fungi companies during the Year, the Group had realized a nation wide sales network (other than Xinjiang and Tibet), which generated new momentum for the expansion of sales channels. During the Year, the sales revenue from trading through domestic network was approximately RMB299.16 million, representing approximately 29.71% of the annual revenue of the Group. International Trading of Food International trading of food business represents cross-border trading of edible fungi, vegetables, canned food and frozen food, etc. During the Year, the segment of international trading of food achieved a sales revenue of approximately RMB88.39 million, accounting for approximately 8.78% of the annual revenue of the Group. Prospects: For production and research and development, the Group maintains its continuous efforts in research and development, and focuses on optimizing production skills and procedures, with an aim to enhance the product quality and production efficiency. The Group will continue to explore the plantation technique for new species of edible fungi that are suitable for industrialized cultivation and expand the operating scope of industrialized production in various types of edible fungi. The Group will strengthen its effort in research and development in the research and development center in Japan, promoting the upgrade and transformation of existing healthcare products and launching new products. Our Group will construct its own factory and carry strategic acquisitions as and when appropriate based on its own needs, so as to rapidly expand its production capacity. It will also bring immediate benefits in the aspects of the conversion of technical achievements, enhancement of production skills and channel coverage through synergy effect arising from the business combination. Looking forward, persistently upholding its vision of “building a healthy industry chain for China”, the Group devotes all effort to develop the business segment of edible fungi products for general healthcare, while at the same time strives to consolidate its leading position in the edible fungi industry. Led by directions of modern agriculture and general health care, the Group will set up its target of developing the segment of edible fungi products for general healthcare by leveraging on the special resources and favourble policies of China. Driven by the Chinese culture of edible fungi and technological innovations, the Group focuses on the cultivation of various kinds of edible fungi and the precise processing of edible fungi products for general healthcare to produce healthcare products with high added value to consumers and realize sustainable development of the Group.

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