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Public company info - Tianjin TEDA Biomedical Engineering Co. Ltd. - H Shares , 08189.HK

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Tianjin TEDA Biomedical Engineering Co. Ltd. - H Shares, 08189.HK - Company Profile
Chairman Sun Li
Share Issued (share) 1,197,000,000
Par Currency Renminbi
Par Value 0.1
Industry Fertilisers & Agricultural Chemicals
Corporate Profile Business Summary: The Group principally operates two business segments: (1) biological compound fertilisers products; and (2) elderly care and health care services. Performance for the year: For the year ended 31 December 2019, the Group achieved total annual turnover of RMB358,751,734, representing an increase of 1.95% as compared to last year (31 December 2018: RMB351,897,658). The consolidated gross profit was RMB34,995,711 (31 December 2018: RMB1,706,855) and consolidated gross profit margin was 9.75% (31 December 2018: 0.49%). For the year ended 31 December 2019, loss attributable to the owners of the Company was RMB84,621,807 (2018: RMB177,679,819). For the year ended 31 December 2019, loss per share of the Company was RMB4.47 cents (2018: RMB9.58 cents). Business Review Fertiliser Business Fertiliser is an irreplaceable supporting factor to ensure food safety. Fertiliser is crucial to ensure the stable production and high production of food and it is therefore important in the agriculture industry in the PRC. After the rapid development stage in the past few years, compound fertiliser has entered a stage of oversupply and a full restructuring must be done. Currently, the fertiliser industry in the PRC is facing four major problems: firstly, oversupply, homogeneity and weak research and development capability; secondly, excessively long sales chain with high cost and overwhelming credit sales; thirdly, unscientific fertilising resulting in significant waste and threat to the environment; fourthly, the rising of large farming companies and professional farmers, resulting in a mismatch of service and scale. Due to the intensifying downward pressure on international economy in recent years together with the promotion of supply-side restructuring reformation of fertiliser industry in the PRC and the fierce market competition, the survivability of fertiliser companies in the PRC is being crushed continuously. Meanwhile, along with the deepening of structural adjustment of agriculture industry in the PRC, the fertiliser industry is also accelerating its transformation and upgrade. The Ministry of Agriculture explicitly required to actualise zero-growth in the utilisation of fertiliser in 2020. Under the general trend of fertiliser reduction, new type of fertiliser is a solid foothold for future corporate transformation and upgrade and to stand out from peers. It is also a solution for the intensifying competition. Currently, domestic fertiliser is overall in oversupply. The pressure from competition and environmental protection compelled the continuous innovation and upgrade of fertiliser products. New type of fertiliser which can enhance nutrition utilisation rate and possesses good environmental protection feature can gain popularity. During the period under review, along with the acceleration of the turnover of land in the PRC, the was a change in demand of compound fertiliser procurement from the grass-roots level and the price of grains remained low, resulting in an abundant production but little return. The enthusiasm of farming of grassroots was significantly dampened, causing a drop in market demand. On the other hand, due to the downturn of downstream demand and the sluggish industry condition of raw materials, as well as the frequent occurrence of regional natural disaster such as typhoon, has obstructed the normal production of agriculture industry to a certain extent. In the face of numerous adverse market challenges, the compound fertiliser corporations under the Company constantly adjusted their market strategies and product structures and proactively promoted various high-quality new fertilisers in order to bring health back to the soil. In December 2019, Guangdong Fulilong was accredited as the “Top 50 Biological Fertiliser Enterprises in the PRC in 2019” and the “Most Influential Brand in the Organic Fertiliser Industry in the PRC in 2019” by China Chemical Industry Information Association. The Elderly Health-care Business In the period under review, the Group mainly vigorously expanded its elderly care business in the following three aspects: 1. Focus on management and consultation service in the early stage and develop its own professional elderly care institution when appropriate in the subsequent stage. In the elderly care industry in China, there currently exists the issues of massive investment, long investment return period and unclear profit model. In the view of this, the Group follows the strategic vision of “in persistence in asset-light operation model, forging a reputable elderly care brand with integration of medical and healthcare” at the current stage. It fully takes advantage of its core strength of years of experience in elderly care industry to provide other elderly care institutions and elderly care realties with early planning and design service in the developing stage and management consultation services for postdevelopment operation and management. In the subsequent stage, the Company will develop its own world-leading professional elderly care institution when appropriate. On 15 October 2019, the Company executed a framework agreement with 揚州美藍建設管理有限公司(Yangzhou Meinan Construction and Management Co., Ltd.*) (“Yangzhou Meinan”, a subsidiary of 藍城房產建設管理集團有限公司 (Bluetown Real Estate Construction Management Group Co., Ltd.*)), pursuant to which, the Company shall provide Yangzhou Meinan with management and consultation service for its bidding of a land parcel in Guangling, Yangzhou, and after obtaining the land ownership certificate, both parties shall jointly manage and operate the nursing homes, rehabilitation hospitals and elderly care apartments in the project. 2.Proactively expand the assistive equipment rental business. In recent years, the State Council, the Ministry of Civil Affairs and the Shanghai Municipal Government and other authorities have successively promogulated policies such as “ The Several Opinions of the State Council on Accelerating the Development of Rehabilitation Assistive Equipment Industry” (《國務院關於加快發展康復輔助器具產業的若干意見》), “The Opinions of the Shanghai Municipal People’s Government on Realising the Acceleration of the Development of Rehabilitation Assistive Equipment Industry” (《上海市人民政府關於加快發展康復輔助器具產業的實施意見》), “The Notice of the Ministry of Civil Affairs, the Development and Reform Commission, the Ministry of Finance and China Disabled Persons’ Federation on Launching Pilot Points of Community Rehabilitation Assistive Equipment Rental Service” (《民政部、發展改革委、財 政部、中國殘聯關於開展康復輔助器具社區租賃服務試點的通知》)and “the 2019 Product List of Community Rehabilitation Assistive Equipment Rental (Pilot Points) in Shanghai City” (《2019上海市康復輔具社區租賃(試點)產品目錄》), which promote the accessibility of rehabilitation assistive equipment to families, communities and organisations. On the other hand, the subsidy policy for assistive equipment rental was introduced in Shanghai City. To apply for the subsidy for rental service, one has to rent the products in “the 2019 Product List of Community Rehabilitation Assistive Equipment Rental (Pilot Points) in Shanghai City”. The amount of subsidy shall be 50% of the price of the assistive equipment rental service, and each rental term shall be 6 months, and the amount of subsidy shall not exceed RMB1500 (inclusive). The introduction of the above policies, especially the subsidy policy, has greatly advance the development of assistive equipment rental business. On 28 June 2019, Shanghai City became the first pilot area of the nationwide rehabilitation assistive equipment community rental service. After the selection by the Shanghai Civil Affairs Bureau, it was confirmed that there were 16 district and 70 street and town rehabilitation assistive equipment community rental points in total for the first phase of pilot points. On 10 October 2019, Shanghai Muling, a subsidiary of the Company, was successfully shortlisted as the first batch of the qualified service providers of rehabilitation assistive equipment community rental service in Shanghai City, and executed merchant entry agreements with 11 street and town pilot points. Currently, the company has 38 rehabilitation assistive equipment rental service points in 7 districts in Shanghai City. 3.Strengthening international cooperation and improving professional ability in elderly nursing. On 30 March 2019, the Company and Almage Group, the largest Alzheimer nursing homes chain in France, entered into a strategic cooperation agreement to conduct cooperation in Alzheimer nursing and the operation and management of nursing homes, which significantly improve the professional ability of the Group in elderly nursing; For the EEG detection business, the Company changed its operating strategies and established the EEG detection system in China due to the restrictions of EEG data export under the Chinese government policies and regulations. However, market expansion, staff recruitment and business training were impeded due to EEG data not abling to interpret timely for producing detection report during the process of the technological research and development. Moreover, the Company faced certain unpredictable difficulties during the market expansion, and it is needed a certain period of time in expanding the EEG detection market in the PRC, which had led to slower development in the EEG detection business. Currently, the EEG detection system in China has become relatively stable, but it still needs constant upgrading and improvement. The Company is still proactively seeking cooperative partners and expanding its markets. Prospects: At the beginning of 2020, the novel coronavirus pneumonia pandemic (the “COVID-19” pandemic) spread across the nation. The Group promptly adopted measures and comprehensively planned on the production and operation activities of subsidiaries and the resumption of work and production after the pandemic, so as to fight the pandemic proactively. The COVID-19 pandemic has imposed certain impacts on the market demand and the freight. However, as the pandemic was gradually under control since February 2020, the fertiliser demand for the use in spring and the freight have resumed gradually and the sales volume of compound fertiliser business has increased progressively. The healthy development of fertiliser industry is a foundation for assurance of food safety in the PRC as well as cornerstone for the development of the entire agricultural industry. However, along with consumption upgrade and the progression of supply-side structural reformation of agriculture industry, the demand on food has shifted from merely production volume increase to a new demand of quality and efficiency enhancement, which has brought new opportunities and challenges to the development of fertiliser industry. Currently, the development trend of agriculture has shifted to increasing cost efficiency and high-quality green development. Green consumption is the direction for the main tasks of fertiliser industry in the future. The industry has to vigorously adjust the industrial structure and the product structure to scale down resources exploitation, reduce the use of inputs in different segments and the generation of pollutants in order to propel the fertiliser industry towards the direction of streamline, highly-efficient, smart and environmentally-friendly sustainable development. In green development, the compound fertiliser companies under the Company will attach significant importance to the development of organic fertilisers. Organic fertilisers have comprehensive nutrition and can foster soil improvement and quality enhancement, which can contribute to the reasonable utilization of resources and environmental improvement. Due to the rise of environmental standard and the introduction of environmental protection tax as well as the change in user structure, small-to-medium enterprises which fell behind have been gradually forced to quit the market. Thus, the industrial concentration will become higher, which will drive the fertiliser industry to develop in a scientific, high-tech, environmentallyfriendly and healthy direction. Outstanding enterprises which have accumulated resources, technology and management experience will have better development environment and opportunities. Thus, fertiliser enterprises should make good use of the anti-driving mechanism formed due to overcapacity, grasp the opportunities brought by the national policy direction, strengthen their own competitiveness, improve their technological innovation capabilities, accelerate the development of product differentiation and increase their added value. Enterprises should strengthen their cooperation on innovation, develop their relationships from competition to the integration of cooperation and competition and work together to stabilise the market in order to overcome the difficult situation of the industry through innovation cooperation. On 15 July 2019, Healthy China Promotion Committee(健康中國行動推進委員會)published the Healthy China Action (2019–2030) (《健康中國行動(2019–2030年)》), which was a document focused on the two cores of disease prevention and health promotion and suggested the commencement of 15 significant special actions, among other things, establishing a comprehensive elderly health service system, perfecting the policies of home-based and community-based elderly care, facilitating the integration of medical and caring services, exploring long term nursing insurance system, building liveable environments for the elderly and realising healthy ageing. Under the strategic background of Healthy China, new health industries and new types of business models and patterns have sprung up and expanded extensively, and the grand health industry has entered into a golden age of rapid development. Among the numerous small segments in the field of the grand health industry, the development speed of health care and elderly care business is higher than that of traditional fields such as medicine and pharmacy. Other than the instructions at the national level, the provincial and municipal governments have also focused on the elderly care business. In the aspects of industrial guidance and industrial supports, they introduced policies in respect of pensions, elderly care institutions and industry development in order to promote the establishment of elderly care businesses. In the current stage, the Group mainly operates under the asset-light operation model to provide management and consultation services to other elderly care institutions and elderly care realties and at the same time cooperate with world-leading elderly care institutions and to constantly enhance its own professional ability of elderly nursing. At the subsequent stage, the Group will develop its own international leading mid-to-high end elderly care institutions when appropriate. In addition, the Group will continue to vigorously expand the assistive equipment rental business, and to establish a comprehensive system, quality standard and service procedure. By leveraging on the numerous elderly care institutions entrusted to the Group in Shanghai and the cooperation with the orthopedics and geriatrics departments of various hospitals, the Group aims to forge itself as one of the largest and most professional providers of assistive equipment rental service in Shanghai and across Yangtze River Delta. In the aspect of EEG detection business, quantitative EEG testing services technology is a world-leading EEG detection technology, and its application range is extensive that it can widely apply to all age groups (including adolescents, youth and elderly) in aspects including prone to mental illness detection, potential strength and personality detection, and neurodevelopmental maturity testing etc., and thus it still have an extensive development prospect. Currently, due to various reasons, the development of EEG testing services technology is rather slow but the Group will still continue to devote its efforts to turn the EEG detection business into a profit growth point in the development of the Company.

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