HONG KONG, July 27, 2022 /PRNewswire/ — Tycoon Team Holdings Minimal (“Tycoon Team”, Stock Code: 3390.HK), an omnichannel manufacturer advertising and administration service integrator of wellbeing and nicely-becoming connected products and solutions in Hong Kong, now announced that centered on the preliminary evaluation of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2022 (“1H2022“) and the data presently available, the Group’s web outcomes for the duration of 1H2022 is anticipated to change around to report a income of not fewer than close to HK$20. million as opposed to a loss of close to HK$10.2 million for the 6 months ended 30 June 2021 (“1H2021“), in every situation, before the share of earnings by the non-managing passions. The expected turnaround in results for 1H2022 is mostly owing to the mixture of an maximize in profits and gross revenue and a substantial lower in compose-down of inventories.
Tycoon Group Holdings Confined specializes in giving a person-prevent expert services including brand name agent, marketing, administration, distribution and product sales. By means of the on the internet and offline dual-channel commerce technique, the group distributes and sells about 100 regional and foreign brands of PCM, health and fitness supplement, pores and skin treatment, particular care and other health care products by an on-line cross-border e-commerce platforms and offline distribution sale networks. Tycoon Team and China Assets Pharmaceutical (Inventory Code: 3320.HK) have managed a close and prolonged-expression partnership, carrying out the tenet of “Superior-quality, Higher-efficiency, and Basic safety” to get treatment of the wellbeing of consumers.
The Group’s earnings for 1H2022 is anticipated to boost by not less than 50% (1H2021: HK$380.7 million) achieving above HK$570 million which is the record substantial for the first 50 % of the economic 12 months considering that inception of the Group. Its gross earnings for 1H2022 is predicted to boost by not less than 60% (1H2021: HK$71.5 million). The Administrators of the Team attribute this sort of raise to the sizeable maximize in distribution sale as the group optimized its product or service portfolio and the improve in e-commerce product sales as a outcome of continual efforts in the advancement and expansion of e-commerce product sales.
In addition to, for 1H2021, the Group recorded a generate-down of inventories of somewhere around HK$11.1 million for merchandise which were not merchantable and provision for particular wellness and very well-getting similar merchandise with rather shorter shelf existence.
For 1H2022, the amount of the Group’s create-down of inventories is expected to lessen by much more than 65%. The anticipated decrease in the Group’s generate-down of inventories was primarily because of to much better stock management and the Group has taken a far more prudent solution in sourcing merchandise and positioning of invest in orders.
Mr. Wong Ka Chun Michael, the Chairman and the Chief Govt Officer of Tycoon Team, claimed, “The anticipated turnaround in income and earnings for interim benefits is all contributed by the ahead-seeking structure of the administration in the early stage of the epidemic. With the development of cross-border e-commerce business, the institution of on line and offline twin-channel commerce method, actively growth in the PRC sector, deepen strategic collaboration with stakeholder China Resources Pharmaceutical, enhancement of our own models, the institution of sourcing facilities in the earth and continued sourcing new goods to enrich product portfolio. We feel that the Group will repay the assist and rely on of our shareholders, company associates and customers with fantastic achievements. For much more particulars of our interim results, please refer to the 2022 Interim Benefits Announcement of the Team which will be declared in August.”
About Tycoon Group Holdings Restricted (Stock Code: 3390)
Tycoon Group is a reputable omnichannel brand internet marketing and management assistance integrator of overall health and effectively-currently being similar goods. The Team specialise in furnishing one-stop products and services for PCM, overall health nutritional supplements, skincare, personal care and other healthcare products and solutions, which includes omnichannel brand name agent, marketing and advertising, administration, distribution and sales. The Team has set up a solid on the net and offline product sales community in Hong Kong, Macau and the PRC by cultivating the field for numerous yrs with the mission of bringing wellbeing and vitality to customers in Mainland China, Hong Kong, Macau and Asia-Pacific. The Group has presented about 100 nearby and international brand names. In addition, the Team has supplied a number of anti-pandemic products in good desire in react to the pandemic transpired in Hong Kong, this sort of as surgical masks, fast antigen test kits, hand sanitisers and cleansing wipes, and so on. With a vision of developing its individual manufacturers of items, the Team develops Private Label Products and solutions beneath its perfectly-gained models such as “Enhance Guard”, “Wakan“, and “Kinmen“, as well as the own-brand name “SEASONS ” and “Slimming Expert ” introduced under the joint undertaking. Tycoon has established seem associations with chain retailer customers, with the top rated two chain retailer shoppers running more than 470 merchants in Hong Kong as at 31 December 2021. The Team is also just one of the significant distributors for PCM in Hong Kong. For far more particulars, please take a look at the Group’s formal web page: https://www.tycoongroup.com.hk/
Source Tycoon Team Holdings Limited