Tue Aug 11, 2020 21:09
English | 繁體 | 简体
SUNCORP TECH (1063)

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 year ended 31-12-2019 amounted to HKD 42.77 million. Basic loss per share was HKD 0.0028. No dividend declared. Turnover amounted to HKD 202.5 million, a decrease of 9.5% over the same period last year, gross profit margin up 2.4% to 12.5%. (Announcement Date: 25 Mar 2020)

Business Review - For the year ended December 31, 2019

During the year of review, the Group continued (i) to focus in sales and marketing of residential telephone products under its licence for the Motorola brand, as the Company is the exclusive licensee for the Motorola brand for corded and cordless telephones for residential and office in Europe, the Russian Federation, Middle East, Africa and Asia (including India, Southeast Asia and Australia); (ii) the processing and trading of used computer-related components business; (iii) to provide money lending business; (iv) securities brokerage, placing and underwriting business and (v) the B2B cross-border e-commerce business.

For the year ended 31 December 2019, the Group’s revenue amounted to approximately HK$202.5 million, representing a decrease of approximately 9.5% as compared with the revenue of approximately HK$223.7 million in 2018. In relation to the Group’s revenue, approximately 38.7% was resulted from sales of telephone and related products, approximately 19.0% was resulted from the processing and trading of used computer-related components, approximately 9.7% was resulted from interest income earned from money lending business, approximately 0.04% was contributed from securities brokerage, placing and underwriting business and approximately 32.6% was contributed by B2B cross-border e-commerce business.

Gross profit from operation for the year under review was approximately HK$25.4 million, representing an increase of approximately 12.2% as compared with the gross profit of approximately HK$22.6 million in 2018. The Group’s net loss for the year was approximately HK$42.8 million, which was mainly due to the unrealised loss on financial assets at fair value through profit or loss of approximately HK$14.8 million and approximately HK$17.0 million share option expenses recognised during the year.

As at 31 December 2019, the gross amount of loan portfolio held by the Group was approximately HK$250.6 million and interest income earned from money lending business was approximately HK$19.7 million for the year ended 31 December 2019.

Business Outlook - For the year ended December 31, 2019

As the coronavirus disease (COVID-19) has spread across PRC and other countries during the first quarter in 2020, the business and economic activities have been affected. Also, the protests in Hong Kong since 2019 is a major uncertainty in the future economic growth. The Group will keep monitoring the situation, assess and react promptly to the potential impacts on the Group’s business operations.

In view of the dynamic change in the market environment, the Group has previously expanded into the cross-border e-commerce segment. We may deploy more resources in this business segment in the future to capture more market opportunities as and when appropriate. The Group’s other business segments include sales and marketing of residential cordless telephone and trading of computer components, money lending business, securities brokerage and other financial investment.

In respect of the business for Motorola, the prospects for the activity relating to sales and marketing of telephone products under the Motorola brand in Europe, the Russian Federation, Middle East, Africa, US and Asia (including India, Southeast Asia and Australia) may be affected by the worldwide spread of the coronavirus disease (COVID-19) in 2020. Nevertheless, it is believed that this business segment will continue to be one of the major business segments of the Group.

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) Annual Results Announcement

Business Nature

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.

Prospect

As the coronavirus disease (COVID-19) has spread across PRC and other countries during the first quarter in 2020, the business and economic activities have been affected. Also, the protests in Hong Kong since 2019 is a major uncertainty in the future economic growth. The Group will keep monitoring the situation, assess and react promptly to the potential impacts on the Group's business operations. In view of the dynamic change in the market environment, the Group has previously expanded into the cross-border e-commerce segment. We may deploy more resources in this business segment in the future to capture more market opportunities as and when appropriate. The Group's other business segments include sales and marketing of residential cordless telephone and trading of computer components, money lending business, securities brokerage and other financial investment. In respect of the business for Motorola, the prospects for the activity relating to sales and marketing of telephone products under the Motorola brand in Europe, the Russian Federation, Middle East, Africa, US and Asia (including India, Southeast Asia and Australia) may be affected by the worldwide spread of the coronavirus disease (COVID-19) in 2020. Nevertheless, it is believed that this business segment will continue to be one of the major business segments of the Group. The Group will continue to seek potential investment and business opportunities for broadening its income stream and further development of the existing business segments.

Chairman
Malcolm Stephen JACOBS-PATON
Contact Info
Company Address:
35th Floor., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong
Web: http://www.suncorptech.com.hk
Quote
HSI: 24,890.68 513.25
0.116
0.004 (3.3%)
As of16:10 11 Aug 2020
Open: 0.12 52Wk High: 0.32
Day High: 0.12 52Wk Low: 0.051
Day Low: 0.113 P/E: 0.00
Prev. Close: 0.12 Yield: 0.00%
Volume: 1.54M
Mkt Cap: 91.29M
Turnover: 178.72K NAV: 0.02
Quotes are delayed by at least 15 minutes.
Contact SUNCORP TECH
Company Address:
35th Floor., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong
Web: http://www.suncorptech.com.hk

To request additional information on this company, please complete the form below and we will contact the company on your behalf.

Name:*
Company:
Position:
Phone:
E-mail:*
Existing Shareholder: Yes No
Message:*  

* Required Fields
A founding member of:
China Tonghai IR:
Sitemap  |  About Us  |  Contact Us  |  Disclaimers     English | 繁體 | 简体  
Tonghai Financial:
China Tonghai International Financial Limited  |  China Tonghai Capital  |  China Tonghai Securities
Oceanwide Financial Management   |  Quamnet
 
Information of TonghaiIR (Investor Relations):
[Hong Kong Listed Company Information] [Financial News] [Announcement Alerts] [Free Delayed Stock Quote] [Chart]
[Hong Kong stock information]

TonghaiIR (Investor Relations) Services:
[Listed Companies Information] [Listed Companies Financial Information] [Listed Companies Announcements]
[Listed Companies Circulars] [Listed Companies News] [Press Releases] [Listed Companies Event Calendar]
[Listed Companies Presentations] [Proxy Forms]

China Tonghai IR (Investor Relations):
[Securities Firms] [Fund Houses] [Venture Capitals] [Financial Public Relations Agencies] [Financial Printers]
Investor Relations Dictionary:
[Listed Companies Result Announcement] [Financial Report] [Interim Report] [Annual General Meeting]
[Extraordinary General Meeting] [Board Meeting] [Annual Report] [Contact Listed Companies Investor Relations]
[Company Information Sheet] [Next Day Disclosure Return] [News Release] [IPO] [Prospectus] [Stock Quote] [Trading Volume]