88IV - Public company info - USPACE Technology Group Limited

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USPACE Technology Group Limited, 01725.HK - Company Profile
Chairman	Ma Fujun
Share Issued (share)	300,000,000
Par Currency	Hong Kong Dollar
Par Value	0.01
Industry	Consumer Electronics
Corporate Profile	Business Summary: The Group is principally engaged in the business of electronics manufacturing services. Performance for the year: Revenue of the Group for the Reporting Period was approximately RMB546.3 million, representing a slightly decrease of approximately 0.1% as compared with those for the corresponding period in 2018. Gross profit of the Group for the Reporting Period was approximately RMB60.5 million, representing a decrease of approximately 8.1% as compared with RMB65.8 million for the corresponding period in 2018. Profit attributable to equity holders of the Company for the Reporting Period was approximately RMB25.5 million, representing an increase of approximately 23.6% as compared with those for the corresponding period in 2018. Excluding the listing expenses amounting to RMB14.6 million for the corresponding period in 2018, the Group’s profit for the Reporting Period decreased by approximately 27.7% as compared with the adjusted profit of approximately RMB35.2 million for the corresponding period in 2018. Basic and diluted earnings per share attributable to ordinary equity holders of the Company was RMB8.49 cents for the Reporting Period. Business Review The year 2019 was full of challenges for China’s and the world’s economic. During the Reporting Period, trade fictions between the United States of America and China has slowed down the economic growth of both China and the world. The continuous growth in the EMS industry has also slowed down. During the Reporting Period, a turnover of approximately RMB546.3 million was recorded by the Group, representing a slightly decrease of approximately 0.1% as compared with that in the corresponding period in 2018. The slightly decrease in revenue was attributed by: (i) the revenue derived from printed circuit board assembly (the “PCBAs”) increased by approximately 42.9%, particularly revenue from banking and finance PCBAs as a result of the popularity of the banking and finance device and smart device; (ii) while the revenue derived from fully-assembled electronic products decreased by approximately 14.3%, particularly revenue from tablets as a result of the decreased orders of tablets triggered by the decreasing demand of the tablets market. Prospects: In 2020, the noval coronavirus (COVID-19) outbreak has brought about additional uncertainties in the Group’s operating environment in China. As far as the Group’s businesses are concerned, the outbreak has so far caused operational delays. The Group has put in place contingency measures to lower the impact from this outbreak. And the Group will strive to sustain long-term growth in the Group's current business, strengthen the Group's production capacity and enhance production efficiency to secure more business opportunities by implementing the following business strategies: – Continue to carefully review and extensively investigate into the current situation in relation to costs and resources deployment to enhance the Group's production efficiency; – Continue to strengthen the Group's research and development capabilities so that the Group can explore more business opportunities and enlarge the Group's customer base; – Construct the Group's production plant instead of renting one to increase the interest of the shareholders in long term.

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