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Minshang Innovation and Technology Holdings Co., Ltd. (hereinafter referred to as Minshang Innovation and Technology, stock code 01632-HK) announced its interim results for the six months ended September 30, 2020.
During the reporting period, civil business innovation and technology overcame the adverse effects of the general environment and realized revenue of 643 million Hong Kong dollars, a significant increase of 51.1% in revenue from 425 million Hong Kong dollars last year.
's interim results increased significantly by 51%, turning losses into profits
Civil Business Innovation and Technology has two roles. One is a Hong Kong restaurant group, which mainly operates Vietnamese casual restaurants, with 12 "Yuezhan" and 1 "5yue" Two restaurant brands.
The second is to operate B2B trade business in Mainland China. The company conducts trade supply chain business through "Civil Business Innovation and Technology (Ningbo) E-Commerce Co., Ltd.". The two businesses of
have their own specialties. The former possesses consumption attributes and the latter possesses technological innovation attributes, and both have value and sustainable growth that can withstand deep exploration.
The 2020 new crown pneumonia epidemic will have a significant impact on Hong Kong and the global economy. Civilian, commercial, innovation and technology businesses have also been greatly affected, especially the catering business, which will invisibly increase the pressure on the company's performance.
However, the company overcame all kinds of adverse effects. In the six months ending September 2020, realized revenue rose 51.1% year-on-year to HK$643 million. What is more gratifying for
is that the company has successfully turned losses into profits during this performance period and achieved a profit attributable to shareholders of approximately HK$5.9 million, achieving the revised performance expectations under the introduction of new business.
was blessed by the high-quality resources of the shareholder company, and developed with high efficiency.
's interim performance increased significantly, and the successful realization of profitability, thanks to the increase in B2B trade income of Minshang Chuang’s operations in Mainland China, which offset the short-term decline in the income of the catering segment affected by the general environment influences. At the same time, Minshang Innovation and Technology also obtained the blessing of high-quality resources from the major shareholder Minsheng E-commerce, and obtained 50% of Minshang Zhihui in 2019. During the reporting period, Minshang Zhihui provided Minshang Innovation and Technology with a profit after tax of HK$4.1 million.
Minshang Zhihui is mainly engaged in technology and e-commerce related businesses. It has a strong scene marketing system and supply chain management capabilities, providing e-commerce services for many banks, financial institutions and large enterprises. The main business model of
is the development and operation of e-commerce platforms by commercial banks of China, and the sale of goods on the platforms of large enterprises and the independent platforms of private business intelligence and benefits, Juhui Mall and Minsheng Mall.
benefited from the parent company’s transformation of the civil, commercial, innovation and technology business, and the company’s trading division business can form a synergistic resonance development effect with the civil, commercial, and intelligent business to achieve optimal and efficient development.
explores digital supply chain services, and in the future will increase the technology and innovation attributes
In the independent business part of civil business innovation and technology, the company provides the whole chain of goods, funds and other platform supply chain services by linking suppliers, distributors and customers. Based on the concept of supply chain management and open sharing platform supported by network technology,
has built a comprehensive platform for diversified e-commerce. On the basis of existing 3C electronic products, frozen food, and grain and oil products, the company is also constantly seeking e-commerce business possibilities for other consumer products, and is cooperating with major operators to obtain more brand agency rights.
Now the company's trading business has successfully achieved profitability, and then its greater room for development lies in technology.
At present, the company has planned to launch a new business model combining ODM and supply chain to provide products for new customer groups and reduce procurement risks in order to achieve growth against the trend.
Superimposed parent company Minsheng E-commerce has accumulated deep resources in the field of digital technology, especially in digital technology, supply chain and other fields, which are conducive to the use of integrated advantages and accelerate the promotion of the value of the supply chain of civil business innovation and technology .
Author: Finet
Editor: Shang Peng Jing
