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Public company info - Changhong Jiahua Holdings Limited , 08016.HK

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Changhong Jiahua Holdings Limited, 08016.HK - Company Profile
Chairman Zhao Yong
Share Issued (share) 1,455,000,000
Par Currency Hong Kong Dollar
Par Value 0.025
Industry IT Hardware
Corporate Profile Business Summary: The principal activities of the Group are the provision of professional integrated IT solutions and services, and distribution of IT corporate products, digital products, own brand products and related parts and components. Performance for the year: In 2018, the Group recorded revenue of approximately HK$22,098.08 million, representing an increase of 5.11% as compared with that in the corresponding period of the last financial year. The gross profit margin in 2018 was 3.76%, representing an increase of approximately 0.11% as compared with that in the corresponding period of the last financial year. In 2018, profit attributable to shareholders amounted to approximately HK$270.15 million, representing an increase of approximately 10.48% as compared with that in the corresponding period of the last financial year, and basic earnings per share amounted to HK 10.51 cents, representing an increase of HK 1.00 cents as compared with HK9.51 cents in the corresponding period of the last financial year Business Review: In 2018, the overall growth of the world economy was moderate, and the major developed economies maintained relatively strong growth. However, the economic momentum slowed down, the US protectionism and unilateralism emerged frequently, and the international economic and trade rules had shown a trend of undergoing profound adjustment. Affected by major changes in the domestic and international environment, China’s economy faced increased downward pressure in 2018, but it remained stable on the whole with some progress through adopting a loosely-oriented monetary policy and a more proactive fiscal policy. Various new technologies such as artificial intelligence, blockchain, big data, cloud computing and Internet of Things are accelerating industrial innovation and application, and the digitization transformation has become the main theme in the market. In 2018, the Group implemented the marketing network strategy of online and offline omnichannel expansion, aiming to strengthen the segmentation and management of channels and tap the channel value. At the same time, the Group continued to deepen the Group’s strategic upgrading and completed the business layout for the big data, cloud services and hardware and software infrastructures, forming a satisfactory business scale, gaining solid market position and winning good reputation among upstream and downstream enterprises; and in terms of the internet distribution business, the Group solidify the basic business and upgraded the internet platforms in an effort to build the network-based and three-dimension distribution platforms and ecological systems. The scale and revenue of the Group’s main business continued to grow steadily in 2018. The Group continued to strengthen its basic management and carried on strengthening the information technology construction as well as transforming and optimizing the business process so as to improve its operational efficiency. In addition, the Group adhered to strict credit management and accounts receivable management. The turnover ratio of receivables slight decreased as compared with that in the corresponding period of the last financial year due to the lowered settlement speed of cash during the whole year as a result of the expansion of the e-commerce sales business with long accounts receivable periods and the growth of IT corporate products sales. The inventory balance at the end of this financial year increased compared with the same period last year due to concentrated purchase at the end of the year. The Group continued to strengthen its cost control. The distribution and sales expenses was basically the same as those of the same period of last year; the administrative expenses increased significantly as compared with the corresponding period of last year due to the increase in the number of technical personnel and related expenses; and the finance costs increased as compared with the corresponding period of last year due to the rising interest rates on loans. The analyses of turnover and profit for the three operating segments of the Company as of 31 December 2018 are as follows (Fluctuations in the RMB exchange rate may affect the numbers/percentages of segment): IT consumer products distribution business: in response to the continued decline in PC market demand and the pressure from e-commerce enterprises, the Group strengthened its cooperation between core manufacturers and e-commerce enterprises, and introduced new product lines to give full play to its advantage of channel resources and expand its marketing model and scale. Revenue in this segment increased by 2.26% to HK$11,053.22 million as compared with the corresponding period of last year, while its profit increased by 6.43% to HK$206.90 million. IT corporate products distribution business: the Group actively expanded new brands and new product lines and strengthened cooperation and layout with upstream manufacturers in the cloud business which was expected to form an organic combination with existing businesses. By leveraging the internationally leading big data analysis technology, the Group explored and analyzed channel resources and industry needs to deepen the application and development of solutions based on cloud computing, big data and artificial intelligence and other technologies. Revenue in this segment increased by 25.46% to HK$6,976.55 million as compared with the corresponding period of last year, while its profit increased by 18.72% to HK$304.74 million. Other business: revenue in this segment decreased by 12.59% to HK$4,068.31 million as compared with the corresponding period of last year due to the decline in the sales of smartphones. Profit in this segment decreased by 13.62% to HK$12.00 million due to loss incurred as a result of the disposal of LBS product inventory. Prospects: Looking forward to 2019, global economic growth is expected to slow down, while the economic uncertainty and instability will pile up. The external environment facing China remains grim, and China’s economy is still exposed to great downward pressure. However, with the increase in the reverse regulation effect of macro policies and the sustained release of policy effects, it is expected that China’s economy will rally gradually in the second half of 2019 with a “First Low, Then Stable” growth momentum throughout the year. China will continue to promote the deep integration and application of next-generation information and communication technologies and industries such as big data, cloud computing, artificial intelligence, Internet of Things and 5G, and promote the emergence of new technologies, new products, new industries, new formats and new models. In 2019, the Group will keep on promoting the strategic upgrading towards becoming a IT comprehensive service provider, and carry on the implementation of the business strategy of “All Channels, Specialization, New Distribution, and Good Partners”, and hence establish a new IT comprehensive services system based on the business policy of “Professional Exploration and Growth of Value”, and strive to build and expand independent intellectual property solutions, promote value added continuously and enhance the ability to serve customers by enhancing technology implementation and service capabilities, make every effort to increase the stickiness of customers and channels to get closer to the end customers, and end up to help customers achieve the digitalization transformation while making a greater contribution to shareholders. The Group is planning to set up a third-party e-commerce platform in Mainland China. Once it is materialised, the Company will announce the details in a timely manner.

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