Guilian holdings announced its 2012 interim results
Hong Kong. On August 23, 2012, Guilian Holdings International Limited ("Guilian Holdings" or "the group"), one of China's leading enterprises mainly engaged in packaging design, plate making and printing, and mainly engaged in cigarette printing, today announced its interim results for the six months ended June 30, 2012
during the review period, the Group recorded a turnover of HK $692.6 million, a decrease of 5.6% over the same period last year. The profit attributable to owners of the company increased by 4.2% to 191.1 million yuan. The increase in profit was mainly due to the increase in profit attributable to the acquisition of the remaining equity of Bengbu golden Huangshan Gravure Printing Co., Ltd. ("Bengbu golden Huangshan") and the increase in profit attributable to the associated Company Changde Jinpeng Gravure Printing Co., Ltd. The basic earnings per share was HK $0.26 (H1 2011: HK $0.27). The financial position of the group remained stable, with a bank balance of HK $537.6 million and cash on hand as of June 30, 2012
Mr. Cai De, chairman of the group, said: "In the first half of this year, despite the global economic turmoil and intensified competition, we were able to make significant progress in business expansion, expanding customer base, mainly in steel wire foundation and strengthening production capacity through acquisitions. In addition, we successfully implemented the diversified development strategy, committed to building a complete printing industry chain, and further strengthened our market position as one of the leading enterprises in China's cigarette packaging and printing industry. With diversified business levels With a good cooperative relationship with our customers, we will continue to expand our business to grasp the opportunities brought by the growth of packaging and printing of consumer goods in China. "
diversified business platform to create a complete printing industry chain
in the first half of 2012, the group's cigarette packaging and printing business recorded a turnover of about HK $571.8 million, a decrease of 3.4% over the same period last year. Since April 1 this year, the state tobacco monopoly administration has implemented a new policy requiring tobacco companies to print larger health warning signs on cigarette packages. This policy led most customers to suspend new orders until the old inventory was exhausted, which affected the sales volume of the group. However, the group increased the average selling price of products by printing new products with higher profits
the group has a special technology research and development center in Shenzhen, which enables the group to have the leading technology to design and produce novel and differentiated products to meet the needs of customers. The center imports advanced equipment from overseas manufacturers such as Germany, Switzerland, Taiwan and Japan, and is supported by a team of highly qualified and experienced professional researchers and technicians, making the group a complete, professional and leading printing enterprise
in addition, the Group continues to maintain a good customer cooperation foundation with major tobacco manufacturers in China. Among the 18 subsidiaries of China National Tobacco Corporation ("China Tobacco varnish and polyamide material scheme brings fashion appearance"), 13 are customers of the group. The group also supplies products to 10 of China's 15 largest cigarette brands
in terms of non cigarette packaging and printing services, the turnover reached about HK $109.2 million, a year-on-year decrease of 14.8%. The decrease in turnover was mainly due to the economic fluctuations in Europe, and the group's focus shifted to customers with greater visibility and higher profit margins. At the same time, due to the decrease in sales orders received, the turnover from composite paper manufacturing decreased by 17.8% to about HK $11.5 million
at present, the Group operates five cigarette packaging production facilities, with a total annual capacity of about 5.6 million boxes. In addition, the Group operates a composite paper production facility in Yunnan and two production facilities providing printing services in Shenzhen, providing non cigarette packaging printing services through the group's subsidiary Shitian paper products Co., Ltd
strengthen the market leading position through acquisition
in order to promote business growth and further consolidate its market leading position, the Group actively looks for suitable opportunities to acquire companies engaged in cigarette packaging and printing business. After acquiring all the equity of Bengbu golden Huangshan in July last year, the Group acquired 60% equity of Shenzhen Yangfeng Printing Co., Ltd. ("Yangfeng") for HK $720million during the review period. Yangfeng has an excellent track record in providing high-quality cigarette packaging for many major tobacco manufacturers and cigarette brands in China. Immediately after the acquisition, the group's production capacity increased by 12%, and its market share also increased by 0.7 percentage points to 7.8% (1), making the group one of the leading enterprises in cigarette packaging and printing in China
future growth strategy
looking ahead, the group will continue to optimize its product structure and shift its focus to medium and high-end products with higher profitability. The group also strategically identifies acquisition opportunities that help to enhance value, so as to further expand its customer base and establish cooperative relations with all 18 subsidiaries of China tobacco, and establish long-term cooperative relations with new customers with high growth potential
Mr. Cai de concluded, "with our strong business platform, diversified customer base and market leading position, we can benefit from the integration of the industry. We will seize the growth opportunities of the industry and create greater existing and long-term value for shareholders and partners."
about Guilian Holding International Co., Ltd. ()
Guilian Holding International Co., Ltd. (Guilian holding) was established in 1990, focusing on the packaging design, plate making and printing of high-end consumer goods, mainly engaged in cigarette label printing, and also engaged in the production of cigarette packaging paper. Guilian holdings maintains good customer cooperation with major domestic tobacco manufacturers and is one of the leading enterprises in cigarette packaging and printing in China. Guilian holdings implements relevant diversified development strategies and is committed to building a complete printing industry chain. Through its subsidiary Shitian paper products Co., Ltd., it is involved in the design, production and sales of high-end printing and packaging boxes at home and abroad. After 20 years of development, Guilian Holdings has ranked among the leading positions in the comprehensive strength of Chinese packaging and printing enterprises. Guilian Holdings has won many national honors, such as "China's leading packaging enterprise" and "one hundred star overseas Chinese funded enterprises in China"
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