Monday, November 30, 2020
 
Columnist
Martin Hennecke
 
QUALIPAK
HKEx Stock Code : 01332 
 
Corporate Profile
Principally engaged in the OEM manufacturing and sourcing of packaging products based on its customers' specifications.

Business Review - For the year ended December 31, 2012

The Group is principally engaged in the design, development, manufacture and sale of packaging products and point-of-sales display units. Its product portfolio is principally packaging products for watches, jewellery and eyewear products, comprising packaging cases, bags and pouches and display units. The majority of these products are manufactured in processing factories located in Zhongshan and Guanlan, the PRC (collectively the ˇ§PRC Processing Factoriesˇ¨). The Group's customers include owners or carriers of internationally renowned brands for watches, jewellery and eyewear products and other customers such as traders of packaging products. The Group has over 20 years of experience in the packaging industry and has long business relationship with its customers, some of which for over 15 years.

In the first half of 2012, the global market remained weak and global demand for packaging products was falling as consumer sentiment in different regions of the world for consumer goods continued to decline. Although the Group continued to experience such a challenging economic and operating climate in the second half of 2012, through a series of cost control measures and extra efforts in marketing and promotion, it was able to maintain a stable performance as in the first half of 2012.

During the year ended 31 December 2012, owing to the declining global market demand for consumer products which affected the packaging industry for items such as watches, jewellery and eyewear, the Group's revenue, net profit and net profit margin decreased to HK$389.3 million (2011: HK$418.7 million), HK$22.9 million (2011: HK$41.5 million) and 5.9% (2011: 9.9%), respectively.

Business Outlook - For the year ended December 31, 2012

Looking forward, the global economic environment will continue to be uncertain. Faced with the stagnant economic environment of the United States and the uncertain debt crisis in major European countries, the global market demand for consumer products remains volatile.

To stay competitive in the market, the Group will increase its efforts in promotion through participation in all major local and overseas exhibitions and expand its portfolio of packaging models to keep abreast of market trends. The Group will continue to uphold its proven track record and reputation of punctually delivering consistent and high quality products by optimising quality control system and performing stringent quality control measures in every area of its operations.

In order to tackle the increase in production costs and maintain its profitability, the Group will continue to exercise stringent cost controls, streamline the production processes and reduce material usage and wastage. With the appropriate strategies in place, the Group is confident that it will remain profitable.

Amid the changing competitive landscape, the directors will proactively look into opportunities to further extend the Group's growth momentum in the packaging business and to explore new business ventures to capture new business opportunities in order to broaden the Group's sources of income and enhance the value of the Group.

Source: Qualipak Int'l (01332) Annual Results Announcement
Chairman LAM How Mun Peter Issued Capital (shares) 144M
Par Value HKD 0.1 Market Capitalisation (HKD) 89M
 
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