Annual Report 2019

CHAIRMAN’S STATEMENT 董事長報告書 20 SHOUGANG CONCORD CENTURY HOLDINGS LIMITED 首長寶佳集團有限公司 Dear Shareholders, RESULTS FOR THE YEAR On behalf of the fellow members of the Board, I am pleased to present the audited annual results of the Group for the year ended 31 December 2019. During the year under review, trade tension between China and the United States has increased the uncertainty in global economic growth and as such the economic sentiment has been under significant pressure. As for China, its annual growth rate of GDP in 2019 fell to 6.1%, down 0.5 percentage point from that of the previous year. In addition, unilateralism and trade protectionism prevailed which hampered export growth rate. According to data released by the China Association of Automobile Manufacturers in January 2020, the total national car sales also fell by 8.2% to approximately 25,769,000 units in 2019, attesting automobiles sales in China dropped for a second consecutive year since 1990. Notwithstanding the above adversities, the Group’s profit for the year ended 31 December 2019 has significantly improved and reversed the net loss position of the Group for the year ended 31 December 2018. This is mainly attributable to the tiredless effort made by our sales team. We were able to increase sales tonnage in Steel cords and achieve a commensurate drop in production cost during the year. The Group’s gross profit margin from the continuing operations increased by 5.0 percentage points to 17.6%. As a consequence of the increase in gross profit margin and the reversal of impairment losses on land use rights, the Group attained a net profit of HK$108,344,000 when comparing with the loss of HK$8,681,000 last year. The Group’s net asset value was HK$0.736 per Share at 31 December 2019, increased by 5.7% as compared to HK$0.696 at the end of 2018. The Group recorded its basic earnings per Share of HK5.63 cents for the year when compared to its loss per Share of HK0.45 cent for the previous year. 致列位股東： 本年度業績 本人謹代表董事會成員欣然提呈本集團截至 二零一九年十二月三十一日止年度之經審核 年度業績。 於本年度回顧，中美之間的貿易緊張增加全球 經濟增長的不確定性，景氣度顯著承壓。至於 中國，於二零一九年其 GDP 年增長率下降至 6.1% ，比上年下降 0.5 個百分點。此外，單邊 主義和貿易保護主義盛行，阻礙了出口增長。 根據中國汽車工業協會二零二零年一月發佈 的數據，二零一九年全國汽車總銷量也下降 8.2% 至約 25,769,000 輛，表明中國汽車銷量 自一九九零年以來連續第二年下降。 儘管存在上述逆境，本集團截至二零一九年 十二月三十一日止年度之溢利已大幅改善， 並扭轉本集團截至二零一八年十二月三十一 日止年度的淨虧損狀況。這主要基於我們的銷 售團隊作出的不懈努力。在本年度，我們能夠 增加鋼簾線的銷售量，並實現了相應的生產成 本下降。本集團來自持續經營業務的毛利率上 升 5.0 個百分點至 17.6% 。由於毛利率上升及 土地使用權減值損失撥回，本集團淨溢利達到 港幣 108,344,000 元，相對去年則為虧損港幣 8,681,000 元。 於二零一九年十二月三十一日，本集團的資產 淨值為每股港幣 0.736 元，較二零一八年底的 港幣 0.696 元增加 5.7% 。與去年每股虧損港幣 0.45 仙相比，本集團於本年度錄得每股基本盈 利港幣 5.63 仙。