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Public company info - Hin Sang Group (International) Holding Co. Ltd. , 06893.HK
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Hin Sang Group (International) Holding Co. Ltd., 06893.HK - Company Profile
Chairman Pang Siu Hin
Share Issued (share) 1,092,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Health Products
Corporate Profile Business Summary: The Group is principally engaged in the marketing, selling and manufacturing of healthcare products primarily targeting at children, among which “Hin Sang (衍生)” has been a long established reputable brand. To align with the consumer’s trend, the Group continues to expand the e-commerce business through electronic platforms. To leverage on existing resources to increase profit, the Group also trades in skin care, personal care and slimming products of reputable brands. It is also developing its business in mother infant Chinese medical healthcare as well as diagnosis and treatment services projects. Performance for the year: The Group’s revenue was approximately HK$119.4 million for the Year as compared to HK$176.2 million for the last year, representing a decrease of approximately 32.2%. During the Year, the Group recorded a net loss of approximately HK$36.8 million for the Year compared to a net loss of approximately HK$32.3 million for the last year. Business Review: Product Development Segment Under the Product Development Segment, the Group develops and sells healthcare products, personal care products and household products under its own brand names, mainly being “Hin Sang (衍生)”, “Tai Wo Tong (太和堂)”, “Care Plus (私+呵護)”, “Shuang Long (雙龍)” and “King’s Antiseptic (殺菌王)”. The Group started developing the “Hin Sang (衍生)” brand in 2004 mainly for its health supplements. “Tai Wo Tong (太和堂)” was developed in 2012 mainly for the Group’s proprietary Chinese medicine category. With a view to further enhancing brand recognition of the Group’s own brand products, the Group launched several products during 2020, including but not limited to “Cheers Smart Perfect Slim (Capsule) (千里馬極速纖(膠囊))”, “Cheers Smart Hangover & Liver Care (Capsule) (千里馬解酒護肝之素(膠囊))”, “Care Plus Alcohol (私+呵護殺菌消毒酒精)”, “Care Plus Anti-Bacterial Body Wash (私+呵護沐浴露)”, “Care Plus 3-ply Protection Face Mask (ASTM Level 3) (私+呵護3層防護口罩(ASTM Level 3))”, “Hin Sang Bei Er Zhi Le Solid Beverage (衍生蓓兒智樂固體飲料)”, “Hin Sang Bei Er Chang Shu Solid Beverage (衍生蓓兒暢舒固體飲料)”, “Hin Sang Bei Er Hu Kang Solid Beverage (衍生蓓兒護康固體飲料)”, “Hin Sang Bei Er La Zhi Solid Beverage (衍生蓓兒拉址固體飲料)”, “Hin Sang Bei Er Fu Le Solid Beverage (衍生蓓兒複樂固體飲料)” and “Hin Sang Bei Er Yi Qing Solid Beverage (衍生蓓兒燚清固體飲料)”. The revenue of this segment was approximately HK$116.0 million for the Year, represented a decrease of approximately 31.7% comparing to a segment revenue of approximately HK$169.7 million for the last year. This segment’s loss for the Year was approximately HK$16.8 million, comparing to the segment profit of approximately HK$8.1 million for the last year. This segment’s loss margin for the Year was approximately 14.5% while the profit margin for the last year was approximately 4.8%. The decrease in revenue is due to the fact that the retail market is greatly impacted by COVID-19. The number of tourists in Hong Kong drastically decreased because of the travel restriction and quarantine measures, which in turn adversely affected the demand of the Group’s products. Brand Development and Management Segment The Group has a proven history of managing and developing a number of brands for its brand proprietors (who are mainly manufacturers and brand proprietors of the products) in respect of their personal care products mainly in the Hong Kong market since 1999. The Group entered into an exclusive distribution agreement with each of the brand proprietors and provided them with one-stop marketing, sales and distribution, logistic and delivery services for their branded products. Amongst the products managed and developed by the Group for the brand proprietors, the major brands are “Pahmi (芭菲)”, “Enear (櫻雪)”, “Vcnic (花世界)”, “Zici (滋采)” and “Sunew (閃新)”. The revenue of this segment was approximately HK$2.0 million for the Year, represented a decrease of approximately 39.2% comparing to a segment revenue of approximately HK$3.2 million for the last year. Such decrease was mainly due to the shift of focus by the management of the Group to the Product Development Segment during the Year in order to enhance the brand image of the Group’s own-branded products. This segment recorded a profit of approximately HK$293,000 for the Year while a loss of approximately HK$42,000 was recorded for the last year. Trading of Goods Segment The Group has served its trade customers with high quality products sourced from authorised dealers and overseas suppliers. Products under this segment with low profit margin will be phased out, and more resources will be put into the Product Development Segment which is expected to yield higher profit margin. The revenue of this segment was approximately HK$489,000 for the Year, comparing to zero for the last year and it accounted for approximately 0.4% of the Group’s revenue of the Year. The increase in revenue is contributed by the new partnership opportunities with authorised dealers and overseas suppliers during the Year. While there was an increase in revenue of this segment, it was still the focus of the Group to expand and develop the Product Development Segment during the Year. Healthcare Segment The Healthcare Segment provides different types of healthcare related services and products in Hong Kong and the PRC for mothers and children by establishment of clinics with medical treatment and consultation by experienced Chinese physician who specialised in mother-infant Chinese medical healthcare. The revenue of this segment was approximately HK$1.0 million and it accounted for approximately 0.8% of the Group’s revenue for the Year. This segment’s loss for the Year was approximately HK$4.4 million as compared to a loss of approximately HK$22.7 million for the last year, due to the cessation of business of certain operating subsidiaries in Nanjing during the Year and the expenses incurred in Nanjing have decreased in the Year. Prospects: The Group is confident that Hong Kong market can still provide a stable platform for its business to expand. The Group continues its effort in new product development in order to enrich health supplements portfolio and enhance the brand image as being a specialist in providing health supplements. The Group ensures that only those products with high sales volume potential should be retained in its product portfolio. At the same time, the Group will also focus on the development of the China market, especially in the health supplement market for children. The Group believes that this market will be greatly benefited by the launch of China’s “three-child” policy. To seize this opportunity, the Group will continue to expand its distribution network by recruiting additional distributors and put more resources to promote corporate image in order to expand its customer base. The Group has outlined the following strategies for its future business development, with caution but aim to creating values for the Shareholders: (a) To continue enhancing brand recognition of the Group’s own brands The Group has developed the “Hin Sang (衍生)” brand into a well-recognised brand in Hong Kong through an effective targeted advertising program which is well-positioned emphasising on product safety and quality. The Group continued focusing on and applying its brand strategies of multichannel marketing and diverse product portfolios. The Group adopted a market oriented research and product development strategy to meet evolving customer demands and needs while achieving rapid growth. The Group’s new product development initiative for the coming year will focus on developing more products in mother and children health supplements in Hong Kong and the PRC. (b) To expand the manufacturing arm of the Group As part of the Group’s plan to enhance the production efficiency of its own brand products in order to capture future opportunities, the Group has developed a production plant for manufacturing health supplements in Yunfu City of the Guangdong Province, the PRC, aiming to reduce the product cost by self-production rather than Original Equipment Manufacturer (“OEM”) to outside supplier, and increase efficiency and attaining more stringent quality control on its own brand healthcare products. The construction of the production plant has been completed on 30 April 2020 and it has started production on 19 September 2020. (c) To expand e-commerce for own-branded products The Group will continue to enhance its e-commerce platform which focus on online sales of the products under “Hin Sang (衍生)”, through which customers, particularly those in the PRC can place orders online and enjoy home delivery services. Due to the gradual popularity of online shopping, especially in the PRC market, revenue from e-commerce platforms accounted for approximately HK$34.9 million (2020: HK$28.9 million) of the Group’s total revenue for the Year. The Group will continue to introduce more high quality health supplements on the online platforms to expand the Group’s product portfolio and market scale.

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