Principal Activities

Principally engaged in the design and sales of telephones and related products, processing and trading of used computer-related components, provision of brokerage, placing and underwriting services, money lending service in Hong Kong and B2B cross-border e-commerce and payment business.

Latest Results

The Group's loss attributable to shareholders for the 6 months ended 30-06-2020 amounted to HKD 12.77 million. Basic loss per share was HKD 0.0168. No dividend declared. Turnover amounted to HKD 91.61 million, a decrease of 2.4% over the same period last year, gross profit margin up 1.3% to 13.9%. (Announcement Date: 27 Aug 2020)

Business Review - For the six months ended June 30, 2020

For the six months ended 30 June 2020, the Group’s revenue amounted to approximately HK$91.6 million, representing a slight decrease of approximately 2.4% as compared with the revenue of approximately HK$93.9 million for the corresponding period in 2019. In relation to the Group’s total revenue, approximately 40.6% was contributed by B2B cross border e-commerce business, approximately 28.7% was resulted from sales of telephone and related products, approximately 19.4% was derived from the processing and trading of used computer related components, approximately 11.2% was derived from interest income earned from money lending business and approximately 0.1% was derived from securities brokerage, placing and underwriting business.

Gross profit from operation for the period under review was approximately HK$12.8 million, representing an increase of approximately 8.0% as compared with the gross profit of approximately of HK$11.8 million for the corresponding period in 2019. The Group’s unaudited consolidated loss for the period under review was approximately HK$12.8 million, which was mainly due to the unrealised loss on financial assets at fair value through profit or loss of approximately HK$4.9 million and provision for expected credit losses on trade receivables, loan receivables and other receivables of approximately HK$9.8 million for the six months ended 30 June 2020.

As at 30 June 2020, the gross amount of loan portfolio held by the Group was approximately HK$259.2 million and interest income earned from money lending business was approximately HK$10.3 million for the six months ended 30 June 2020.

During the period, the business of the Group had been impacted by various factor, including the China-USA trade war and the outbreak of coronavirus disease (“COVID-19”), resulting in lower sales of the Group’s telephone products both in Europe and USA. The revenue contributed by the segment of design and sales of telephone and related products has decreased by approximately HK$9.7 million or approximately 26.8% as compared to the corresponding period in the last year.

Irrespective of exercising prudent cost control measures, sales volume has been static and put on hold mainly because of the continuous weak business environment caused by COVID-19 and the China USA trade war.

Business Outlook - For the six months ended June 30, 2020

In view of the highly unpredictable business environment, we are evaluating different business segments within the Group and reposition our strategy and business operation in more optimistic business segments. For the six months ended 30 June 2020, our processing and trading of used computer related components segment has expanded by approximately 62.3% from approximately HK$11.0 million to approximately HK$17.8 million as compared to the corresponding period in 2019. The outbreak of COVID-19 has led to more e-commerce business activities, which we may consider deploy more resources in the future.

The Group will continue to seek potential investment and business opportunities for broadening its income stream and further development of the existing business segments.



Source: SunCorp Tech (01063) Interim Results Announcement

Principally engaged in the design and sales of telephones and related products, processing and trading of used computer-related components, provision of brokerage, placing and underwriting services, money lending service in Hong Kong and B2B cross-border e-commerce and payment business.

In view of the highly unpredictable business environment, we are evaluating different business segments within the Group and reposition our strategy and business operation in more optimistic business segments. For the six months ended 30 June 2020, our processing and trading of used computer related components segment has expanded by approximately 62.3% from approximately HK$11.0 million to approximately HK$17.8 million as compared to the corresponding period in 2019. The outbreak of COVID-19 has led to more e-commerce business activities, which we may consider deploy more resources in the future. The Group will continue to seek potential investment and business opportunities for broadening its income stream and further development of the existing business segments.