Annual Report 2019

24 SHOUGANG CONCORD CENTURY HOLDINGS LIMITED 首長寶佳集團有限公司 MANAGEMENT DISCUSSION AND ANALYSIS 管理層論述及分析 經營回顧 本集團主要從事製造子午線輪胎之鋼簾線及 切割鋼絲。截至二零一九年十二月三十一日 止年度，本集團錄得來自持續經營業務之營 業額港幣 2,141,380,000 元（二零一八年：港 幣 2,122,993,000 元），較上一年度輕微增長 約 0.9% 。此外，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，由截 至二零一八年十二月三十一日止年度的淨 虧損狀況港幣 8,681,000 元扭轉至溢利港幣 108,344,000 元。董事會認為，上述由虧損轉 為盈利主要歸因於毛利的增加，並有以下要 素： － 鋼簾線的銷售量增長； － 生產成本降低；及 － 鋼簾線的出口銷售量增加。 持續經營業務之鋼簾線分部 營業額 中國於二零一九年第四季度錄得 GDP 經濟增 長為 6.0% ，與上一季度持平及符合市場預期。 由於美國的貿易壓力以及國內外需求低迷， 這仍然是自一九九二年第一季度以來最弱的 增長率。考慮到二零一九年全年，經濟增長僅 6.1% 。但是，我們的銷售團隊竭盡全力拓展 我們在大型和跨國輪胎製造商的覆蓋範圍， 並對我們的銷售組合進行微調，靈活地滿足客 戶的需求，因此鋼簾線分部能夠較上一年度實 現了 4.9% 的銷量增長。在出口銷售量方面，我 們能夠密切地跟隨客戶對其各產品及生產設 施的調整，因此於本年度成功地獲得了 13.3% 的重大增長。 Review of operations The Group is principally engaged in the manufacturing of steel cords for radial tyres and sawing wires. For the year ended 31 December 2019, the Group recorded a revenue from the continuing operations of HK$2,141,380,000 (2018: HK$2,122,993,000), representing a slight increase of approximately 0.9% as compared with that of the previous year. Besides, the Group’s profit for the year ended 31 December 2019 has significantly improved and turned around to HK$108,344,000 from the net loss position of HK$8,681,000 for the year ended 31 December 2018. The Board considers that the aforesaid turnaround from loss to profit position is primarily attributable to the increase in gross profit with the following factors: – the growth in sales volume of the Steel cords; – the reduction in production cost; and – the increase in export sales volume of the Steel cords. Continuing operations of Steel cord segment Revenue The PRC recorded the fourth-quarter of 2019 GDP economic growth of 6.0%, which is same as that in the previous quarter and matching market expectations. This remained the weakest growth rate since the first quarter of 1992 amid trade pressure from the United States and sluggish demand from home and abroad. Considering the full year 2019, the economy grew just by 6.1%. However, our sales team made every effort to expand our coverage on large-scale and multinational tyre manufacturers and fine-tune our sales mix to flexibly meet our customers’ requirements, thus the Steel cord segment was able to achieve a growth in volume of 4.9% over that of the previous year. In respect of export sales volume, we were able to follow closely with our customers’ realignment of their respective products and production facilities and hence, successfully managed to attain a material increase of 13.3% during the year.