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Public company info - Orange Tour Cultural Holding Limited , 08627.HK
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Orange Tour Cultural Holding Limited, 08627.HK - Company Profile
Chairman Zhou Yang
Share Issued (share) 800,000,000
Par Currency U.S. Dollar
Par Value 0.001
Industry Other Support Services
Corporate Profile Business Summary: The principal activities of the Group are provision of event management services and design and production services. Performance for the year: Revenue decreased from approximately RMB61.0 million for FY2019 to approximately RMB22.1 million for FY2020, representing a decrease of approximately RMB38.9 million or 63.8%. As a result of the foregoing, the Group recorded a net loss of RMB1.8 million for FY2020 as compared with a net profit of approximately RMB8.9 million for FY2019, representing a decrease of approximately RMB10.7 million or 120.4%. Business Review The Group is a marketing services company headquartered in Yixing of the People’s Republic of China (“PRC”) with a principal focus on the provision of (i) event management services; and (ii) design and production services. Commenced its business under its predecessor, the Group has accumulated over 14 years of experience in the provision of marketing services. Over the years, the Group has developed well-established relationships with customers from governmental and commercial sectors in the PRC. The Group recorded a net loss of RMB1.8 million for the year ended 31 December 2020 (“FY2020”) as compared with a net profit of approximately RMB8.9 million for the year ended 31 December 2019 (“FY2019”). The Board considers that the net loss was primarily attributable to a significant decrease in revenue for FY2020 as comparing with the same period in 2019 due to the outbreak of the novel coronavirus (COVID-19) epidemic (the “Epidemic”) that resulted in delays or cancellations of existing projects and the reduction of demand and contract value for new contracts during the year. With the outbreak of the Epidemic, numbers of provinces and cities have adopted various public health emergency policies, including but not limited to, prohibiting the movement of people among different cities, issuing compulsory quarantine orders and demanding temporary closure of commercial and recreational premises, which have affected the Group’s operations and led to a decrease in the number of projects, in particular the event management activities, undertaken during the year. Prospects: Looking forward, although the Epidemic is still on-going and might continue to affect the operation and financial performance of the Group, the Group is cautiously optimistic that the economic impact as brought by the Epidemic will be mitigated as a result of series of anti-epidemic measures implemented by the government and the ongoing vaccination schemes. Despite the uncertain business environment, the Group will continue to explore the business opportunity in the markets so as to capture the market rebound once the market conditions improve. As such, the Group will closely monitor the market conditions and cautiously implement various plans and strategies following the gradual ease of the Epidemic.

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