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Public company info - Narnia (Hong Kong) Group Company Limited , 08607.HK
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Narnia (Hong Kong) Group Company Limited, 08607.HK - Company Profile
Chairman Dai Shunhua
Share Issued (share) 800,000,000
Par Currency U.S. Dollar
Par Value 0.001
Industry Textile & Apparels
Corporate Profile Business Summary: The group is principally engaged in the manufacture and sale of fabrics and the provision of printing and dyeing services. Performance for the year: The group’s total revenue was approximately RMB329.6 million for the year ended 31 December 2019 (2018: approximately RMB332.3 million), representing a slight decrease of 0.8% as comparing the revenue of the Year Under Review with that of last year. The group’s gross profit was approximately RMB65.1 million for the year ended 31 December 2019 (2018: approximately RMB66.5 million). The profit and other total comprehensive income for the year of our Group has decreased by approximately 32.2% from approximately RMB46.1 million for the year ended 31 December 2018 to approximately RMB31.2 million for the year ended 31 December 2019. Business Review: The Group continued to focus on strengthening its core business of production, dyeing and processing textile products. Besides maintaining business relationships with loyal customers, we have spent more effort in seeking new customers to increase our market share. During the Year Under Review, the Group increased promotional efforts for its new products. A primitive market has formed for eco-friendly functional fabric products, as domestic and overseas customers have started the application of those products with positive response. The Group continued to focus on the development of domestic and overseas markets. During the Year Under Review, business volume for the domestic printing and dyeing and processing sectors has begun to reach scale. The Group put strong emphasis in investment in research and development of new products and technology. During the Year Under Review, the Group collaborated with Soochow University to develop new products. The polyester woven beding fabric produced by the Company was successful in passing green product verification. It has established a Zhejiang post-doctoral workshop, the Zhejiang Narnia Ecological Functional Fabric Research Institute. It was rated 2019 provincial “Hidden Champion” nurturing company and Huzhou municipal water conservation company. The Group led and formulated a national standard for inspecting defects in printed and dyed fabrics, for which the China Filament Weaving Association awarded us the 2019 industrial technology innovation award and honoured us as top 50 in economic benefits to the filament weaving industry. Prospects: Since the outbreak of the novel coronavirus (COVID-19) epidemic (the “Epidemic”) in early 2020, the Chinese government authorities have taken a timely approach to adopt Epidemic prevention measures, such as temporarily closing public places, checking the travel routes of employees, and restricting employees from returning to work at local enterprises. As a result, the Group’s factories in China halted production since 24 January 2020 to prevent the spread of the Epidemic, and have resumed work on 21 February 2020. At present, the Group is carrying out normal operations. Due to the fact that the Epidemic in China as at the date of this report turned to become more stable, it did not result in any material adverse impacts on the Group’s production. However, due to the worsening situation of the Epidemic in overseas markets, our sales and profit have suffered adverse impacts to a certain extent, and the management has been assessing the impact brought by the Epidemic on the financial results of the Group for the next few months. Based on the development of the epidemic outside China, we will adjust our sales model and profit forecast in time. At the moment, we expect the development of the epidemic will not result in significant adverse impacts to the Group’s continuing operation. In 2020, the Group is still facing a complex and volatile economic environment and unprecedented challenges, the Group keeps moving forward to strive for opportunities and the development of its core business with an aim to increasing the market share of its major products. Looking ahead, the Group will continue to evaluate the commercial feasibility of various products with the aim to expand and broaden our revenue source for sustained growth and profitability. Leveraging the Group’s existing competitive advantages, we are confident that our experienced professional teams and our provision of high quality products and services to customers will keep it well-positioned to capture the surging business opportunities. Following our successful Listing, we benefited from a strong capital platform which will be conducive to taking our business to the next level. We are positive of the market outlook and our outstanding capability and competitive edge, which will enable us to capitalise growth opportunities ahead.

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