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Public company info - China Wan Tong Yuan (Holdings) Limited , 08199.HK
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China Wan Tong Yuan (Holdings) Limited, 08199.HK - Company Profile
Chairman ZHAO Ying
Share Issued (share) 1,000,000,000
Par Currency U.S. Dollar
Par Value 0.01
Industry Funeral
Corporate Profile Business Summary: The Group was principally engaged in the sale of burial plots, provision of other burial-related services and provision of cemetery maintenance services in Langfang. Performance for the year: The revenue of the Group amounted to approximately RMB43,385,000 for the year ended 31 December 2018 (2017: RMB38,617,000) which represented an increase of RMB4,768,000 or 12.3% as compared with the year of 2017. The profit attributable to owners of the Company was RMB28,247,000 for the year ended 31 December 2018 (2017: RMB7,123,000), which represented an increase of RMB21,124,000 or 296.6% as compared with the year of 2017. Business Review： Sales of burial plots and provision of other burial-related services Burial services were the largest component of the group’s revenue, representing 92.2% of the group’s revenue for the year ended 31 December 2018 (2017: 92.1%). The burial services market in Langfang is concentrated. Demand for the group’s burial service and growth in the group’s revenue are driven by the overall demand for burial services in Langfang and the Jing-Jin-Ji megalopolis at large. The group believe the group’s reputation, quality of services, and well-maintained and conveniently located facilities allow us to compete effectively in Langfang. The Company is optimistic that this operation will be continuously developed and expanded. Provision of cemetery maintenance services The group provide ongoing cemetery maintenance services as an integral part of the group’s burial services to maintain the group’s beautiful landscaped cemetery. Customers pay for maintenance fees upfront when they sign the sales contracts to purchase the burial plots. The group’s revenue from cemetery maintenance was RMB3.4 million for the year ended 31 December 2018 (2017: RMB3.1 million). Prospects: The group aspire to strengthen the group’s market position in Langfang and expand the group’s business in the Jing-Jin-Ji megalopolis and beyond through the following strategies. Strengthen the group’s market position in Langfang The group have set up service sites at Langfang Funeral Home, and assigned specialists to introduce cemetery-related services, deal with pre-service business and promote to and identify potential customers. The group plan to further develop the group’s cemetery, especially the environment in cemetery, and upgrade the group’s products. For example, the group will further develop the undeveloped area within the group’s cemetery, upgrade the group’s facilities and equipment and improve the environment in the cemetery. The group will cater to customers’ various needs and preferences by providing more elegant environment with warmer, more diversified and person-centered services. Moreover, through contact and communications with more clients and institutions of elderly services to invite more clients to the group’s events and to organize recreation and sports events for the elderly, the group will strengthen the group’s market position in Langfang. Expand the group’s business scope to provide funeral services The group generated substantially all of the group’s revenues from burial services during the current and prior years. The group have forged stable business relationship with a number of local funeral services providers which refer customers to us. The group believe, however, that one-stop-shop services that integrate funeral and burial services are able to confer a significant competitive advantage, as bereaved families generally prefer dealing with fewer service providers to ensure a seamless and smooth experience at each stage of the process. The group will strengthen the group’s cooperation with the community, enterprise unions and institutions of elderly services to expand the coverage of the group’s funeral services. Tap further into the burial services market in the Jing-Jin-Ji megalopolis Leveraging on the group’s strategic location in Langfang and proximity to regional hubs in the Jing-Jin-Ji megalopolis, the group plan to tap further into the burial services market in this region, especially in Beijing, where affordable burial sites have become increasingly sparse and local residents become increasingly mobile with the integration of communities and the construction of a web of high-speed intercity transportation infrastructure. The group plan to devote more marketing resources to serving the neighboring cities and develop further cooperation with local funeral service providers as the group’s business partners. The group target to set up cooperation relationships with more Beijing funeral service providers in 2019 and 2020 to promote the group’s burial services locally. Meanwhile, the group plan to cooperate with local funeral homes and hospital mortuaries to access bereaved families in a more direct and more prompt way, so that the group can react immediately to provide high-quality funeral and burial services for the group’s customers. Provide columbarium settlement service, actively cooperating and supporting the government’s city demolishment and transformation plan The rapid development of Langfang benefits from the overall development of the Jing-Jin-Ji megalopolis and is the process of economic and civilized construction and development at the same time. While carrying out the urban planning and construction, and settling the villagers’ migration, the government and the development department can fully consider the needs of the deceased relatives in the villagers. As a licensed cemetery, Wan Tong Yuan provides columbarium collective storage services in support of the government’s demolishment and transformation plan. It can also generate income for the Company. In addition to the sales of three columbarium niches halls in 2018, the group will continue to actively cooperate with and support the government’s city demolishment and transformation plan, and provide columbarium settlement services for columbarium in the demolishment and transformation plan areas in the future. With the development of the city, it can’t be ruled out that there will be more demand for collective storage of columbarium, which will bring us better returns. Pursue strategic alliance and acquisition opportunities The group have built the group’s business so far primarily through organic growth. Going forward, the group intend to selectively acquire, invest in or enter into strategic partnerships with other death care services providers, including funeral service providers and cemetery operators. The group base the group’s selection criteria on, among other things, brand name, location, land cost, land reserves and profitability. The group generally favor cemeteries located in wealthy and densely populated provinces, where there is a higher demand for high-quality death care services. In particular, the group seek to prioritize business expansion opportunities with death care services providers in the Jing-Jin-Ji megalopolis and bring synergy to the group’s current operations. Meanwhile, the group will also cooperate with potential acquisition or investment in other regions. The group are committed to seeking development in both upstream and downstream industries of burial services, i.e. palliative care industry, to expand the group’s business opportunities and to identify strategic alliance. Together the group will achieve industrial integration from birth to death and from aging to burial for customers of all ages. Save for above disclosed, there were no plan authorised by the Board for other material investments or additions of capital assets at the date of this announcement.

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