Golden Century International Holdings Group Announces 2020 Annual Results
Golden Century International Holdings Group Limited
(Stock Code: 91.HK)
Golden Century International Holdings Group Announces 2020 Annual Results
New Shareholder Energizes “Industry + Finance” as a Dual-driver Approach
9 Times Increased in Revenue to HK$69.8Million Demonstrating True Strength
During the Year, the Group had sticked to its “industry + finance” dual-driver approach as its core philosophy and had improved its business performance. It recorded a revenue of HK$69,766,000, which was about 9 times of the total revenue in the last year.
During the Year, the Group successfully acquired three companies in finance, enabling it to hold a diverse range of licences for various financial services, and resulting in an increased the profit from operation to HK$6,056,000. During the Year, the Group recorded a loss attributable to the shareholders of the Company of approximately HK$64,627,000, representing a significant decrease of 83.7% compared with last year.
The coalbed methane project used innovative top-drive drilling devices for exploration and deep-zone development, and achieved phased exploration progress during the Year to further consolidate industry as the cornerstone of the Group.
During the Year, the Group officially embarked on the new comprehensive healthcare business, and is mainly engaged in manufacturing and selling medical devices and pandemic-prevention supplies and products to meet the huge demand for meltblown fabrics used for the filtration layer in face masks and further diversifying its industry business.
(26 March 2021 – Hong Kong) Golden Century International Holdings Group Limited (“Golden Century International Holdings Group,” the “Company”; Stock code: 91.HK; together with its subsidiaries collectively known as the “Group”) announced audited annual results for the year ended 31 December 2020 (the “2020” or the “Year”).
The Group’s revenue for the Year was HK$69,766,000, which was about 9 times of the total revenue in the last year. The business turned the loss into the profit, and the profit from operation increased to HK$6,056,000. During the Year, Mr. Pan Jibiao was appointed Chairman and Chief Executive Officer of the Group. Mr. Pan Jibiao holds significant shares of the Group, and leads it to implement business strategy and the "Industry + Finance" as a dual-driver developing approach. With his extensive knowledge and rich experiences in the financial and legal industry, Mr. Pan Jibiao has led the Group to create new opportunities and breakthroughs, resulting in the improved performance of the Group. During the Year, the Group’s loss for the Year narrowed substantially by 83.7% as compared with last year to approximately HK$64,627,000.
Acquired Three Companies in Finance to Enhance the Group’s Strength
During the Year, the Group actively expanded the financial business, and capitalized on Hong Kong’s prominent position in international finance to explore more valuable high-return investment to grow its business. To further promote the expansion of financial business, the Group successfully acquired GCINT(HK) Limited, GCINT Asset Management Limited and GCINT Wealth Management Limited during the Year, enabling it to hold a diverse range of licences for various financial and insurance services. These would help the Group to build an all-around financial platform and to further expand the Group’s financial business and strength, and to inject new fuel for the Group’s development.
Aligned with the Principles and Trends of the State to
Focused on the Development of CBM
In terms of industry, coalbed methane is a strategic resource to which the state attaches great importance, and so the Group continued to focus on its coalbed methane business (“CBM”) to align with the sustainability principles and trends of the state. During the Year, Canada Can-Elite Energy Limited (“Can-Elite”), a wholly-owned subsidiary of the Group, entered into the fifth modification agreement to further extend the exploration period for two years, regarding the production sharing contract with China United Coalbed Methane Corporation Limited. Moreover, Can-Elite entered into an engineering technical service contract in relation to the exploration-development integrated with major industry player Beijing Sino-welking Energy Technology Service Co. Ltd. The CBM project was able to officially resume development and exploration after the epidemic was brought under control in the PRC. As at 31 December 2020, the CBM project achieved phased exploration progress in Su’nan, Anhui, with a total exploration area of 567.843 square kilometers. A total of 43 exploration wells were drilled, including one new horizontal well was drilled and three new vertical exploration wells were restored.
Embarked on the New Comprehensive Healthcare Business to
Diversified Business Development
Since the global spread of novel coronavirus (COVID-19), the demand for personal protective gears and equipment has increased rapidly. Thence, the Group officially embarked on the new Comprehensive Healthcare Business in May 2020. The Group procured raw materials and machines for appropriate medical products to manufacture and sell medical devices and pandemic-prevention supplies and products, and recorded revenue of HK$60,399,000 during the Year, which mainly from the sales of meltblown fabrics used for the filtration layer in face masks and sales of relevant production equipment.
Mr. Pan Jibiao, Chairman and Chief Executive Officer of the Company, said, “In 2020, the spread of novel coronavirus (COVID-19) cast uncertainties on the global economy. The Group proactively cope with changes and challenges in the market and fully develop the global platform integrating industry and finance. The business revenue of the Group was successfully driven to grow under the severe economic environment within a short period. Looking ahead, the Group will continue with its “industry + finance” dual-driver approach as its core philosophy to integrate quality resources in the industry and seize market opportunities. With industry as the cornerstone on which the Group takes root to proactively explore the business value of CMB and comprehensive healthcare, and find more industries with investment value to enhance the diversified development of industrial business. Moreover, the Group will continue to amplify its advantages and plan to apply for a Mainland QFLP licence to further invest in the domestic market to look for potential opportunities in the financial market by expanding in the Greater Bay Area. The Group will strengthen the integration of industry and finance, actively develop the domestic and international business strategies, consolidate its strength and create organic growth to generate better returns for our shareholders.”
About Golden Century International Holding Group Limited (Stock Code: 91.HK):
The Group listed on the Main Board of the Stock Exchange of Hong Kong Limited in 1981, and officially renamed to “Golden Century International Holdings Group LTD.” in March 2020. Golden Century International Holdings Group is a comprehensive enterprise with diversified industries including finance, wealth management, clean energy, comprehensive healthcare and propriety investment. The Group is committed to integrate high-quality global resources and build a global comprehensive industry and finance platform as well as connect business to the Belt and Road Initiative so as to further consolidate and explore international business. For details, please refer to the Company’s website at http://www.gci.com.hk/
This press release is issued by Financial PR (HK) Limited on behalf of Golden Century International Holding Group Limited. For further information, please contact:
Financial PR (HK) Limited
Ms. Chloe Chiu
Ms. Elva Li
Ms. Kelly Zhao
(852) 2610 0846
(852) 2610 0842