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China Ludao Technology Co. Ltd., 02023.HK - Company Profile
Chairman	Yu Yuerong
Share Issued (share)	492,000,000
Par Currency	Hong Kong Dollar
Par Value	0.01
Industry	Furniture & Household Goods
Corporate Profile	Business Summary: The Group is principally engaged in the research and development, manufacture and sale of aerosol and related products in the PRC. Performance for the year: For the Reporting Period, the revenue and net profit of the Group were approximately RMB412.6 million and RMB23.8 million respectively, representing an increase of approximately 1.9% and 2.2% respectively over 2018. Basic earnings per share was approximately RMB5 cents (2018: RMB5 cents). Business Review As one of the few top leading manufacturers of the aerosol products in the PRC, our Group is principally engaged in the research and development, manufacture and sale of aerosol and related products. We sell our products on contract manufacturing service (“CMS”) basis to overseas markets and on original brand manufacturing (“OBM”) basis in the PRC market. Meanwhile, the Group also expands the market in Mainland China on CMS basis gradually. Our products can be divided into four major categories, namely (i) household and auto care products, (ii) air-fresheners, (iii) personal care products, and (iv) insecticides. Our OBM business offers products under our own brand names of “Green Island”, “Ludao”（“綠島”）, “JIERJIA”（“吉爾佳”） and “EAGLEIN KING”（“鷹王”）, mainly through a network of distributors, who further resell our OBM products to wholesalers, retailers and end-users in the PRC. During the Reporting Period, the global economy declined obviously, the global international trade showed negative growth, and the Sino-US trade conflict shifted from an escalating trend to an easing trend. At the same time, China continued to improve the business environment, and has implemented large-scale tax cuts and fee reduction policies, adding new impetus to economic growth. Nevertheless, it was not easy for the Group in 2019. Through years of steady development and continuous innovation capability, the Group has adjusted its strategy and made active response on the basis of strengthening the strategic customer cooperation relationship. The CMS business and OBM business of the Group maintained a growth momentum and recorded an increase of 1.4% and 6.8% respectively. In addition, the Group’s investment in the clean energy and heating business newly introduced in 2017 to the Group, and the Board of Directors and the management of the Group will continually follow up and timely consider the development of such investment project. Meanwhile, the Group will also pay attention to other potential investment opportunities in the market so as to enhance the competitiveness and synergy of the Group. For the Reporting Period, the revenue and net profit of the Group were approximately RMB412.6 million and RMB23.8 million respectively, representing an increase of approximately 1.9% and 2.2% respectively over 2018. Basic earnings per share was approximately RMB5 cents (2018: RMB5 cents). Despite the rise in revenue, the Group’s total comprehensive expense for the year attributable to the owners of the Company was approximately RMB60.8 million for the Reporting Period, compared to the total comprehensive income of approximately RMB14.9 million for the prior year. The significant increase is primarily attributable to the decrease in fair value of equity instruments at fair value through other comprehensive income because the business operations of HGRL have been temporarily taken over by the Huailai county government for the reason of alleged non-compliance with certain administrative measures for public utility franchise, which is non-cash in nature and has no adverse impact on the business and operation of the Group. The Board considers that overall operational and financial position of the Group as whole still remain good. Prospects: In 2020, due to the outbreak of coronavirus pneumonia epidemic in 2019 and its continuous large-scale spread around the world, international trade will be affected unprecedentedly. The epidemic is a challenge as well as an opportunity. The Group will pay close attention to the development of the epidemic, actively assume the corporate social responsibility, increase the production of epidemic prevention products (such as disinfection alcohol and water-free hand sanitizer), and contribute the corporate strength to the prevention and control of the epidemic. At the same time, the Group will monitor the development of the epidemic in real time, strengthen cooperation with customers, and actively deal with and resolve the adverse effects of the epidemic, so as to continue to consolidate and strengthen the CMS business of the Group. Also, despite the adverse impact of the epidemic on China’s economy, China has controlled the spread of the epidemic in a timely manner, which has basically been controlled. The Group will study the consumption trends and consumer preferences, and conduct research and development of high-quality products in line with market demands in order to continuously cater to the market demands and further enhance the Group’s OBM business. The Board of Directors and the management of the Group will closely monitor changes in the international situation and adjust their strategies in a timely manner in order to achieve better results.

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