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Public company info - HG Semiconductor Limited , 06908.HK

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HG Semiconductor Limited, 06908.HK - Company Profile
Chairman Zhao Yi Wen
Share Issued (share) 400,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Industrial Goods
Corporate Profile Business Summary: The Group is principally engaged in the design, development, manufacturing, subcontracting service and sales of light-emitting diode (‘‘LED’’) beads and LED lighting products in the PRC. Performance for the year: For the year ended 31 December 2019, total revenue was approximately RMB243.3 million, representing an increase of approximately 19.4% as compared with the Previous Year (2018: approximately RMB203.7 million). The gross profit increased from approximately RMB47.8 million for the year ended 31 December 2018 to approximately RMB60.3 million for the year ended 31 December 2019. The gross profit margin increased from approximately 23.5% for the year ended 31 December 2018 to approximately 24.8% for the year ended 31 December 2019. The profit for the Year decreased by approximately RMB6.6 million or approximately 27.6% from approximately RMB23.9 million for the year ended 31 December 2018 to approximately RMB17.3 million for the year ended 31 December 2019. The net profit margin was approximately 7.1% for the year ended 31 December 2019, compared to that of 11.7% for the year ended 31 December 2018. Business Review The Group’s revenue increased from approximately RMB203.7 million for the year ended 31 December 2018 to approximately RMB243.3 million for the year ended 31 December 2019. The demand for slim LED beads continued its strong momentum during the year ended 31 December 2019, which contributed approximately RMB89.9 million to the Group’s revenue for the Year, as compared to approximately RMB53.1 million for the Previous Year. Since July 2019, the Group has commenced its commercial production of LED beads under a subcontracting arrangement with a new customer, which is a South Korea listed LED parts manufacturer. The revenue derived from the subcontracting arrangement was approximately RMB2.0 million for the year ended 31 December 2019 (2018: nil). Profit for the year ended 31 December 2019 amounted to approximately RMB17.3 million (approximately RMB23.9 million for the year ended 31 December 2018), which represents a decrease of approximately RMB6.6 million or approximately 27.6% as compared to that of the Previous Year. Such decrease was mainly attributable to (i) the increase in the professional services expenses in relation to the recent transfer of listing of the Company’s shares from the GEM to the Main Board of the Stock Exchange; and (ii) the increase in research and development expenses. On 6 May 2019, the Company submitted a formal application to the Stock Exchange for a proposed transfer of listing from the GEM to the Main Board of the Stock Exchange. On 13 November 2019, the shares of the Company were successfully listed on the Main Board of the Stock Exchange (the ‘‘Transfer of Listing’’). The Directors are of the view that the Transfer of Listing will be beneficial to the Group’s future growth as well as business development which will create a long-term value to the shareholders of the Company. In May 2019, the Group’s principal operating subsidiary, Zhuhai HongGuang Lighting Fixture Company Limited* (‘‘Zhuhai HongGuang’’) (珠海宏光照明器材有限公司), was accredited with the IATF 16949:2016, a widely used international standards for quality management in the automotive industry. The Directors believe that this accreditation will help the Group to open up more business opportunities in the future, as IATF 16949:2016 applies to the design, development, production, installation and servicing of automotive-related products (e.g. display panels used in vehicles). During the Year, registration of 9 patents were further granted to Zhuhai HongGuang. As at 31 December 2019, the Group is the registered proprietor of 27 patents in the PRC. Zhuhai HongGuang has successfully renewed its status of New and High Technology Enterprise* (高新技術企業). Accordingly, Zhuhai HongGuang is entitled to a tax preference with a reduction of the enterprise income tax rate in the PRC from 25% to 15% for the period from 1 January 2019 to 31 December 2021. Prospects: The industry outlooks and prospects have become highly challenging and uncertain for the Company following the outbreak of the novel coronavirus (COVID-19) epidemic. In particular, the Group and its customers are likely to be adversely impacted by the sluggish consumer electronics market conditions and the delay of product launches by downstream consumer electronics companies. The Company will continue to monitor the market situation and strive to mitigate any adverse impact it may face to the best of its ability.

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