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Public company info - Evershine Group Holdings Ltd. , 08022.HK
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Evershine Group Holdings Ltd., 08022.HK - Company Profile
Chairman -
Share Issued (share) 2,164,000,000
Par Currency Hong Kong Dollar
Par Value 0.0
Industry Other Minerals
Corporate Profile Business Summary: The Company are engaged in the provision of trading business, property development and investment business, money lending business, mobile application business and cemetery business. Performance for the year: During the Year, the Group recorded revenue of approximately HK$4,155,000 (2019: approximately HK$3,438,000). The Group’s loss attributable to shareholders decreased to approximately HK$71,103,000 for the Year (2019: approximately HK$92,278,000). Business Review： During the Year, the Group generated revenue from the trading business of approximately HK$1,167,000 (2019: approximately HK$1,022,000). The revenue was generated from selling a batch of Onyx Marbles, a type of construction materials from the Republic of Turkey (“Turkey”) to the PRC. Property Development and Investment The Group holds properties located in Hong Kong and Turkey. Properties in Hong Kong and certain properties in Turkey are held for investment purpose to earn rental income and with a view to capture any possible future capital appreciation. During the Year, the Group generated rental income of approximately HK$1,940,000 (2019: approximately HK$2,064,000), with approximately HK$1,254,000 (2019: approximately HK$1,176,000) and HK$686,000 (2019: approximately HK$888,000) generated from properties situated in Hong Kong and Turkey respectively. Cemetery Business The Group has been engaged in the operation of a cemetery located in Zhecheng County in Henan Province of PRC (the “Cemetery”). The Cemetery has obtained the operating right for a term up to 1 July 2050 and the required operating permit, subject to annual renewal for the permission to operate the Cemetery. Money Lending Business During the Year, Ottoman Evershine Finance Limited (“OE Finance”), a wholly-owned subsidiary of the Company, has renewed the money lenders license granted by the licensing court in Hong Kong pursuant to the Money Lenders Ordinance (Chapter 163 of the Laws of Hong Kong). During the Year, OE Finance has granted a loan of approximately USD366,000 to an independent third party. The loan is secured by the borrower’s property and personal guarantee, and carries interest rate of 12% per annum with loan period of ten years. During the Year, the interest income contributed from the money lending business was approximately HK$321,000 (2019: approximately HK$254,000). The Group will continue to strengthen the money lending business by broadening the customer base but will adopt a prudent strategy when approving new loans so as to balance the profitability and the credit risk involved. Before approval of any loan applications, the Group would assess the borrower’s credit quality via: 1) reviewing the background and credit history of the borrower; 2) understanding the uses of fund and means of repayment by the borrower; and (3) performing asset check of the borrower. Borrowers shall be offered a fixed rate of interest on the loans on an individual basis depending on each result of credit assessment and collaterals offered by the respective borrowers, if any. Mobile Application Business In 2017, the Group acquired 40% equity interest in First Surplus Investments Limited (“FS Group”). FS Group and its subsidiaries are principally engaged in development of mobile games, game publishing, applications, related intellectual property and platform, and provision of related solutions. FS Group contains full team of development, support and market publication. Through the acquisition, it is expected that the Group can further develop mobile application business and capture the opportunities in the mobile online game industry and also the software industry. During the Year, the Group has recorded a share of loss of approximately HK$9,573,000 (2019: approximately HK$6,069,000). During the Year, the Group had performed an impairment assessment on the interest in FS Group and the recoverable amount of it was lower than its carrying amount. As a result, the Group recognised an impairment of approximately HK$14,701,000 (2019: approximately HK$3,526,000) during the year ended 31 December 2020 since the management of the FS Group realised that the performance of mobile games and application business was worse than expected due to current economic environment in Hong Kong. Prospects: The Group remains positive about the future as a steady business growth is vastly expected. Existing projects are steadily approaching to maturity stage, while the more recent projects are fervently progressing in their development stages. The Group will continue to seek and invest resources in projects with the objectives of expanding the Group’s revenue sources, improving the Group’s profitability as well as diversifying the Group’s types of business so as to further develop the business of the Group and increase the shareholders’ return.

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