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Infomation

Changhong Jiahua holdings limited released the annual report

In 2017, major economies in the world all grew in the same pace. The countries of emerging market presented a strong growth, while the developed countries enjoyed a stable recovery. Chinese economy shifted from a fast growth to a high quality one, demonstrating a more sustainable trend. IT technologies,such as cloud computing, big data, block chain, artificial intelligence and mobile internet, have grown very fast, becoming the critical factors for integrated development of various industries. In 2017, the Group further integrated the international technology with product resources, expanded the traditional distribution business steadily, and made efforts to develop the cloud computing and big data business, and put the big data solution into practice. In 2017, the Group built and improved the internet distribution platform, explored and built business models based internet distribution, expanded sale channels and products incremental, and promoted the integration between on-line channels and off-line ones. In 2017, the main business scale and revenue of the Group both grew well.

In 2017, the Group continued to strengthen its risk management and control, reinforced management over accounts receivables and inventory, allocated funds rationally, accelerated assets turnover, and maintained sufficient working capital; the Group further integrated business process with finance process to continuously optimize operation management. In 2017, the net increase in cash and cash equivalents was approximately HK$191.55 million, representing a significant increase as compared with HK$115.73 million in the corresponding period of the last financial year; the overall operating expense ratio recorded a decrease of 0.24% as compared with that in the corresponding period of the last financial year.

In 2017, the Group recorded revenue of approximately HK$21,024.26 million, representing an increase of 10.29% as compared with that in the corresponding period of the last financial year.In 2017, profit attributable to shareholders amounted to approximately HK$244.53 million, representing an increase of approximately 5.05% as compared with that in the corresponding period of the last financial year.

Going forward, in 2018, the global economy is expected to maintain a good growing trend, while still faced with certain risks and challenges, resulting in great uncertainties and mounting systemic financial risks in global trade. Driven by supply-side structural reform and strategy of innovation-driven development, Chinese economy will be kept on fast and steady growth track. As cloud computing technology develops and is used more in practice, the cloud application and cloud service will be used more widely in corporates. A new generation artificial intelligence will push all sectors in society and economy to accelerate their shift from being digital and network-based to being smart, creating new demands, new products and new industries. Under this new industry development trend, the Group will continue to shift itself to be an integrated IT service provider. In 2018, the Group will formulate the business operation policies of “expanding omni-channel, being professional, and developing new distribution and being a partner to help customer grow” to seize the opportunity for a fast growth. The Group will help manufacturers to construct a full omni-channel and provide support and service to Omni-Channel partners. The Group will define and lead the transform and upgrade of IT distribution industry in China, and explore for new markets, new products and new models that could add value to our partners. Confident about its capacity in this industry and its choice of a path for development, the Group will share its growth with partners and create more value for our shareholders.