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On behalf of the board of directors (“the Board”) of Neway Group Holdings Limited (the “Company”), I would like to present to shareholders the results of the Company and its subsidiaries (together, the “Group”) for the year ended 31 December 2019 (the “Year”).

During the Year, the Group continued to be exposed to various market challenges and uncertainties, including but not limited to the prolonged trade dispute between the United States (the “U.S.”) and the People’s Republic of China (the “PRC”), of which the negative impact is gradually seen in the financial performance of the Group for the Year, and the political unrest in Hong Kong which has adversely affected the operation of some business segments of the Group. To cope with these challenges, the Group has adopted more stringent cost control measures to minimize waste in all aspects. At the same time, the Group has actively adjusted and repositioned the business objectives of various business segments with continuous input of financial and human resources to create additional values for the Group.

Looking forward, the business environment continues to be challenging among all business segments of the Group. Packaging printing remains one of the most challenging businesses under the Manufacturing and Sales business of the Group due to the punitive tariffs imposed by the U.S. under the trade dispute, together with the volatility of foreign currencies which shifts the supply chain of all manufacturing activities out of the PRC to other countries. Coronavirus disease 2019 (COVID-19) pandemic is also affecting people’s daily life and the global economy. Business diversification is the main development goal of the Group, aiming to balance the intensifying instability among different sectors globally. At the same time, the operating goal of the Group is to increase the profit margin and enlarge the scale of each business segment through continuous improvement and reinvention of our operation and business model. The Group will maintain a balance between the risks and rewards under the current moment of turbulence.

On behalf of the Board, I would like to take this opportunity to express my sincerest gratitude to all shareholders, investors, business partners and staff for their continuous support and dedication to the Group throughout the Year.


SUEK Ka Lun, Ernie
Chairman

Hong Kong
25 March 2020

 
 
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