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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 2016 (the “Year”).

After adopting various cost control policies and devoting continuous efforts in increasing the turnover, the Group made a turnaround from loss to profit for the Year. In particular, a remarkable improvement was recorded in the Manufacturing and Sales Business and the Music and Entertainment Business.

During the Year, the Group allocated more resources to each business segment and identified more business opportunities to create value for the Group. Together with the newly introduced business segment, namely the Gaming Business, the Group’s business profile became more diversified, and more new elements were added to enlarge the revenue base of the Group.

Looking forward, the Group’s business will continue to face with challenges in different industries, especially the challenges from the People’s of Republic of China (the “PRC”). The volatility of foreign exchange rate of Renminbi, the soaring material prices and the increasing minimum wages imposed by the PRC government will exert extra burdens on the operating cost of the Group. The Group will closely monitor the changes in the local and international market, and will adopt various measures timely if necessary.

At the same time, the Group will continue to divert more human and financial resources to all business segments to enlarge their respective customer base and market share. For the Gaming Business newly introduced during the Year, the Group will allocate more resources to enlarge the global distribution network and increase the product deployment. The Group will also expand the businesses in a prudent way and adjust the strategy and evaluate the results from time to time.

On behalf of the Board, I would like to take this opportunity to express my 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
24 March 2017

 
 
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