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Public company info - Tempus Holdings Ltd. , 06880.HK
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Tempus Holdings Ltd., 06880.HK - Company Profile
Chairman Zhong Baisheng
Share Issued (share) 437,000,000
Par Currency U.S. Dollar
Par Value 0.01
Industry Warehousing & Logistic Services
Corporate Profile Business Summary: The Group is principally engaged in sales and research and development of health and wellness products, trading and logistics business. Performance for the year: Revenue from continuing operations for the year ended 31 December 2020 was approximately HK$403.4 million, representing a decrease of approximately 10.5% as compared with revenue of approximately HK$450.8 million for the year ended 31 December 2019. Loss for the year from continuing operations and discontinued operations for the year ended 31 December 2020 was approximately HK$81.4 million, while that for the year ended 31 December 2019 was approximately HK$282.4 million. Business Review： For the year ended 31 December 2019, upon completion of the disposal of Shenzhen Qianhai Tempus Value Chain Co. Ltd* （深圳前海騰邦價值鏈有限公司） (“Qianhai Value Chain”) and the partial disposal of shareholding in Tempus Sky Enterprises Limited (“Tempus Sky”, together with Qianhai Value Chain, the “Disposed OpCo”), the Group ceased to carry on the original logistics business. Accordingly, the operations of the Disposed OpCo were classified as discontinued operations in accordance with HKFRS 5 Non-current Assets Held for Sale and Discontinued Operations (the “HKFRS 5”). In 2019, the Group’s revenue generated from discontinued operations, i.e. the logistics business conducted through the Disposed OpCo, was approximately HK$279.2 million, and recorded a loss from discontinued operations of HK$54.3 million. Looking forward, without changing the Company’s principal business, the Company will continue to stay tuned to market trends and explore new business opportunities. In 2020, the Group’s revenue generated from the continuing operations was HK$403.4 million, decreased by 10.5% as compared with that of HK$450.8 million for the year ended 31 December 2019. The decrease in revenue generated from the continuing operations was mainly due to the longlasting outbreak of the novel coronavirus (COVID-19) pandemic (the “Pandemic”) in 2020, and the Group therefore had faced a challenging business environment. Anti-epidemic measures were implemented against the novel coronavirus, and had continued to be in force. Various restrictions were imposed by authorities in Mainland China, Hong Kong, Singapore, Malaysia as well as Macau (the “Respective Regions”) during the year 2020 in view of public health concerns. The lockdown which caused a temporary closure of retail outlets in the Respective Regions, had resulted in little appetite for consumer purchase. The Group’s sales activities were adversely affected, especially in the first half of 2020. Consequently, the Group’s revenue generated from the continuing operations declined by approximately 24.4% in the first half of 2020 as compared to that in the first half of 2019. Fortunately, the market had gradually improved in the second half of 2020. The Group’s revenue generated from the continuing operations declined by approximately 10.5% for the year ended 31 December 2020 as compared to that in the year ended 31 December 2019. The decrease in the revenue was however partially compensated by the reversal of impairment losses on financial assets of HK$21.7 million which was recognised during the year, by the decrease in impairment losses on financial assets of approximately HK$48.7 million for the year ended 31 December 2020 as compared to that in the year ended 31 December 2019, and by the decrease in administrative expenses of approximately HK$25.7 million for the year ended 31 December 2020 as compared to that in the year ended 31 December 2019, and as well as by the decrease in selling and distribution expenses of approximately HK$41.0 million for the year ended 31 December 2020 as compared to that in the year ended 31 December 2019. The Group therefore recorded a loss for the year from continuing operations of HK$81.4 million, as compared with that of HK$228.1 million in 2019. SALES OF HEALTH AND WELLNESS PRODUCTS BUSINESS For the year ended 31 December 2020, sales of massage chairs/other massage and fitness/ diagnostics products were HK$367.4 million and HK$32.5 million, respectively, representing 91.9% and 8.1% of the Group’s segment revenue from the sales of health and wellness products business, respectively. The Group launched a total of 36 new products, generating revenue of HK$50.2 million, representing 12.5% of the Group’s segment revenue from the sales of health and wellness products business. Sales Channels The Group keeps strengthening its sales channels and expanding its geographical market coverage. The diversified sales channels of the Group comprise (i) traditional sales channels including retail outlets at shopping malls and department stores; and (ii) proactive sales channels including roadshow counters, corporate sales, international sales and internet sales. The Group’s trading business represents trading of goods such as personal consumables. During the year, the revenue generated from trading business was HK$3.5 million, representing 0.9% of the revenue generated from continuing operations of the Group. The increase of 64.8% in the revenue generated from trading business as compared to the year 2019 was mainly due to the revenue generated from trading of circuit boards during the year. Prospects: The year 2020 had been a very challenging year for the Company. The Pandemic has wreaked havoc on the global economy and inevitably impacted the Group’s sales of health and wellness products business in all regions, especially in respect of roadshow counters and corporate sales. The Company has responded cautiously to the crisis by actively taking steps to speed up collection of outstanding receivables and implementing a number of cost control measures to reduce various general and administrative and other operating expenses. It will continue to be challenging in 2021 as the Pandemic and its latest variants continue to affect the global economy and consumer shopping habits. Despite the mass rollout of the vaccines, which is expected to help boosting global economic recovery, it will take time to offset the damage caused by the Pandemic. Although there is improvement in the Group’s sales, it remains difficult to predict the strength of a comprehensive and sustainable recovery. On 23 March 2021, the Company received a letter from the CBs holder demanding repayment of the outstanding amount of the convertible bonds amounting to approximately HK$194,661,000. According to the demand letter, the Company has 3 weeks after serving of this demand letter to repay the debt. After the expiry of the 3 weeks’ period, the CBs holder may present a winding-up petition against the Company, which could further aggravate the Company’s financial situation. Looking ahead, the Company remains cautiously optimistic towards its business and development. While maintaining the continuous development of the main business, the Company will use its best endeavours to take steps to solve the problems of restructuring of convertible bonds, which include (i) discussion with the the CBs holder for the restructuring of the convertible bonds; (ii) planning to realise part of its assets; and (iii) studying the possibility of strengthening financing activities to supplement the working capital of the Group . The Company will continue to closely monitor and evaluate the impact of the economic environment on the Group, timeously formulate countermeasures to cope with various crises, and actively deploy efforts in advance to seize opportunities and strive for returns for its shareholders.

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