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Public company info - Code Agriculture (Holdings) Ltd. , 08153.HK

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Code Agriculture (Holdings) Ltd., 08153.HK - Company Profile
Chairman WU Meirong
Share Issued (share) 1,850,000,000
Par Currency Hong Kong Dollar
Par Value 4.0E-4
Industry Machinery & Equipment
Corporate Profile Business Summary: The group was principally engaged in manufacture and sale of tobacco agricultural machinery in the PRC, provision of digital television services in the PRC, provision of car beauty services in Hong Kong, and money lending business in Hong Kong. Performance for the year: For the Year, revenue of the Group from continuing operations amounted to approximately HK$45.1 million, representing an increase of approximately 7.2 times from approximately HK$6.3 million for the Preceding Year. The Group’s gross profit increased to approximately HK$22.8 million for the Year from approximately HK$3.1 million for the Preceding Year, representing an increase of approximately 7.3 times The Group recorded a profit for the Year of approximately HK$130.1 million, as compared to a loss of approximately HK$234.0 million for the Preceding Year. Profit attributable to owners of the Company for the Year was approximately HK$131.1 million, as compared to a loss of approximately HK$233.4 million for the Preceding Year. The basic and diluted earnings per share of the Group for the Year were HK$0.20, as compared to the basic and diluted loss per share of HK$2.20 for the Preceding Year. The basic and diluted loss per share from continuing operations for the Year were HK$0.04, as compared to HK$0.23 for the Preceding Year. Business Review: The Group had disposed of its entire interests in the tobacco agricultural machinery operation. The results of the tobacco agricultural machinery segment during the Year were recorded under discontinued operation. The Group recorded the profit on discontinued operation of approximately HK$182.8 million during the Year as compared to a loss of approximately HK$209.0 million for the Preceding Year. The increase in profit from discontinued operation during the Year was mainly attributable to the disposal gain and reclassification of exchange reserve from other comprehensive income to the consolidated statement of profit or loss upon disposal of this segment. The Group recorded a loss for the Year from continuing operations of approximately HK$28.4 million, as compared to approximately HK$25.0 million for the Preceding Year. The further increase in loss for the Year from continuing operations was mainly attributable to the significant increase in finance costs relating to the interest on convertible bonds as compared to the Preceding Year. SEGMENTAL ANALYSIS Digital television The Group recorded revenue of approximately HK$39.8 million from the digital television segment, as compared to revenue of approximately HK$5.5 million for the Preceding Year. The segment profit for the Year from this operation was increased to approximately HK$18.3 million, as compared to approximately HK$0.7 million for the Preceding Year. The revenue growth was mainly due to the management of the Group has placed more resources and effort on this operation during the Year. The Company has further injected capital in Hunan Xiaoxiang Digital Television Broadcast Company Limited for upgrading of certain equipment to provide a better vision effect to the audience. The management has designed an advertisement campaign “Advertisement Campaign Coordination” in Hong Kong and has been commenced from 1 March 2016. Feedback of existing clients is positive and demand of similar services is promising. The Company is optimistic that this operation will be continuously developed and expanded. Car beauty Revenue from this operation for the Year was approximately HK$2.8 million, accounted for approximately 6.2% of the Group’s revenue from continuing operations. The Group commenced this operation in Hong Kong from December 2015 and opened the second workshop from July 2016. Faced with price competition from other competitors, this segment recorded a loss of approximately HK$3.6 million for the Year. The Group has cooperated with a Japanese supplier and now all materials and products are imported from Japan with a view to improving the quality of the services. The Company believe this operation could provide steady revenue for the Group in the forthcoming financial years. Money lending The Group commenced its money lending business in Hong Kong from March 2016. Revenue from this operation for the Year was approximately HK$2.5 million. As at 31 March 2017, gross loan receivables amounted to HK$700,000. Securities investments The Group commenced securities investments in Hong Kong from July 2016. The segment loss for the Year of approximately HK$2.0 million was the impact of fair value changes on financial assets at fair value through profit or loss. As at 31 March 2017, the financial assets at fair value through profit or loss amounted to HK$36.6 million. Prospects: Looking ahead, the Group is confident about the outlook and the prospects of the advertisement and culture market in Hong Kong and the People’s Republic of China (the “PRC”). The Group’s professional and experienced teams have the ability to meet the needs of customers. The Group will open the door to any other opportunities with the business partners in the industry. The Group expects the global business environment to remain challenging in the coming year due to economic and political uncertainty which will create certain pressure to the Group’s revenue and gross profit margins. Nevertheless, the Directors are confident that the Group has the ability to handle these challenges and will continue to explore investment opportunities with a view to enhancing and improving returns to the group's stakeholders.

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