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Public company info - Winson Holdings Hong Kong Limited , 08421.HK
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Winson Holdings Hong Kong Limited, 08421.HK - Company Profile
Chairman Madam Ng Sing Mui
Share Issued (share) 600,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Other Support Services
Corporate Profile Business Summary: The Company is an investment holding company. The principal activities of its subsidiaries (together with the Company, collectively referred to as the ‘‘Group’’) are provision of environmental hygiene and related services and airline catering support services in Hong Kong. Performance for the year: For the FY2019, total revenue was approximately HK$537.3 million, representing an increase of approximately 5.8% (FY2018: approximately HK$508.1 million). The gross profit slightly increased from approximately HK$76.9 million for the FY2018 to approximately HK$79.6 million for the FY2019. The gross profit margin decreased from approximately 15.1% for the FY2018 to approximately 14.8% for the FY2019. As at 31 March 2019, the Group’s profit and total comprehensive income attributable to owners of the Company for each of the FY2019 and FY2018 were approximately HK$20.8 million and HK$21.8 million respectively, representing of approximately 3.9% and 4.3% of the respective year’s total revenue. Business Review: Environmental Hygiene and Related Services During the FY2019, the Group entered into 18 new contracts and 68 renewal of contracts for environmental hygiene and related services with estimated total value of approximately HK$84.2 million and approximately HK$422.5 million respectively. The Group’s tender success rate and contracts renewal rate for the FY2019 in the environmental hygiene and related services segment was approximately 34.4% and approximately 85% respectively. The high contracts renewal rate signifies customers’ satisfaction with the Group’s service quality and pricing. Amongst the new contracts secured are for servicing the headquarter building and substantial majority of administration buildings of a mass transit operator, club buildings of a world-renowned sports club, branches of a local bank, the Hong Kong flagship store of a worldwide luxury goods manufacturer and retailer, and a number of upscale commercial buildings in the central business district. Other than general hygiene service, the Group paid particular attention to projects that involve premium services, such as those requiring technical expertise and/or specialised tools and equipment which the Group possessed with an aim to enhance not only its revenue and competitiveness, but also the Group’s reputation and market penetration. As a result of aforesaid factors, the Group’s estimated value of contracts in hand as at 31 March 2019 surpassed the HK$1 billion mark to approximately HK$1,036.7 million, of which approximately HK$630.7 million was ongoing contracts. Airline Catering Support Services During the FY2019, no new contracts had been entered into, and the estimated total value of contract renewal was approximately HK$25.9 million. In addition, the Group observed that certain simple and repetitive procedures involved in airline catering support services are gradually being replaced by mechanised process, which contributed to the slight decline in the Group’s revenue in this business segment in the FY2019. Furthermore, the specific location at which the airline catering support services operates rendered difficulty on staff recruitment and pressure on labour cost and profit margin. The Group will pay extra attention in cost control and its pricing policy when negotiating for contracts in the airline catering support services in order to counteract the effects of mechanisation and labour constraint. The estimated value of airline catering support contracts in hand as at 31 March 2019 decreased to approximately HK$27.5 million, as the remaining contracts in hand are due for renewal in the year ending 31 March 2020. Prospects: Looking forward, it is expected that the demand for environmental hygiene and related services will continue to rise, driven by growth in the property market in general, urban renewal activities and public facilities projects, amongst others. Albeit rising demand in the market for services that the Group provides, industry players including the Group continue to be challenged by labour shortage and rising cost of wages. In particular, an upward adjustment to the minimum wage in Hong Kong by approximately 8.7% has taken effect from May 2019, which no doubt will exert further pressure on the Group’s profit margin. The Group will uphold stringent control over project tendering and expenditures and continually strive for the best interest of all stakeholders, including the Group’s customers, business partners, employees and shareholders.

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