88IV - Public company info - Huarchi Global Group Holdings Limited

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Huarchi Global Group Holdings Limited, 02296.HK - Company Profile
Chairman	LOU Cheok Meng
Share Issued (share)	2,000,000,000
Par Currency	Hong Kong Dollar
Par Value	0.01
Industry	Construction & Decoration
Corporate Profile	Business Summary: The Group mainly provides services of (i) fitting-out works; (ii) construction works; and (iii) repair and maintenance works in Macau, and the projects undertaken by the Group can be divided into (i) public sector projects and (ii) private sector projects by the types of project employers. Performance for the year: The Group’s overall turnover for the year ended 31 December 2019 increased by approximately 16.8% to approximately MOP467,407,000 (2018: approximately MOP400,085,000). The profit for the year was approximately MOP51,474,000, representing a year-on-year increase of approximately MOP3,032,000 (2018: approximately MOP48,442,000) or 6.3%. For the year ended 31 December 2019, if the listing expenses of approximately MOP13,206,000 (2018: approximately MOP6,676,000) incurred is excluded, the Group would record a profit of approximately MOP64,680,000 (2018: approximately MOP55,118,000) for the year, representing an increase of approximately 17.3% compared to that of the previous financial year. Business Review Fitting-out works The Group provides fitting-out works for both new buildings and existing buildings in Macau. A fittingout project involves shop drawing, procurement of materials, execution of fitting-out works, site supervision, management of subcontractors and overall project management. As at 31 December 2018, the Group had 29 fitting-out projects in progress, and for the year ended 31 December 2019, the Group was awarded 60 new fitting-out projects, of which, 69 fitting-out projects have been practically completed, and 20 fitting-out projects are still in progress. Construction works A construction project involves works including foundation works, and buildings services systems installation. The Group is also responsible for structural calculation and shop drawing, procurement of materials, site supervision, management of subcontractors and overall project management. The Group may subcontract site works to other subcontractors, including but not limited to, foundation works and building services systems installation. As at 31 December 2018, the Group had three construction projects in progress, and for the year ended 31 December 2019, the Group was awarded two new construction projects, of which, three construction projects have been practically completed, and two construction projects are still in progress. Repair and maintenance works The Group also provides repair and maintenance services for existing properties in Macau on (i) as-needed basis; and (ii) regularly over a fixed period. Repair and maintenance services provided by the Group include repair or replacement of interior decorative parts, as well as other works for building services systems such as installation of CCTV systems and air-conditioning systems. As at 31 December 2018, the Group had two repair and maintenance projects in progress, and for the year ended 31 December 2019, the Group was awarded 14 new repair and maintenance projects, of which, 14 repair and maintenance projects have been practically completed, and two repair and maintenance projects are still in progress. In summary, the Group had 24 projects still in progress for the year ended 31 December 2019, of which, 15 projects were public sector projects and nine projects were private sector projects in terms of the types of project employers. The Group will continue to strive to balance the development of public sector projects and private sector projects. Prospects: Looking ahead, although the outbreak of COVID-19 at the beginning of the extraordinary year 2020 has exerted certain downward pressure on the overall economy in Macau, the Group, in face of such oppressive challenges, will continue to focus its fitting-out projects on the local residential, office and school premises in Macau, with the expectation that the corresponding impact faced by the Group can be mitigated. In the Policy Address of the Government of Macau Special Administrative Region for financial year 2019, with the theme of “Seize opportunities for balanced development” and under the premises of focusing on improving people’s livelihoods, the government will expedite the implementation of urban planning measures, such as the construction of new sea reclamation areas, additional medical facilities, and continue to deepen urban construction, including optimising the transportation and multicultural construction in Macau, which are expected to bring demand and momentum to Macau’s fitting-out and construction industry in future. Therefore, the Group looks forward to taking advantage of such opportunities to achieve stable development in the year to follow. In the future, the Group will continue to follow the fundamental development strategies of (i) strengthening the Group’s financial capabilities to undertake more new and larger scale fitting-out and construction projects; and (ii) further improving the group’s production capacity, capabilities and cost efficiency.

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