Name of Company
FULL
APEX (HOLDINGS) LIMITED.
Chairman
Statement
Business Review
The slow-down in the global economy in FY2009 had a
negative impact on demand for the Group¨s products. With the lower demand for PET bottles arising from lower local consumer spending and increased competition in the corrugated paper packaging product business, aggregate revenue contribution from these product segments had correspondingly decreased by 31.9% or RMB229.1 million, from RMB718.7 million in the financial year ended 31 December 2008 (＾FY2008￣) to RMB489.6 million in FY2009.
However, sales volume of PET resin had increased with
customers¨ recognition of the quality of our PET resin. Although the average unit selling price of PET resin declined by approximately 25% compared with FY2008, the drop in revenue to external customers from PET resin were marginal at only 2.5%, from RMB670.5 million in FY2008 to RMB653.8 million in FY2009.
The lower margin contribution from paper packaging product and PET bottle businesses, led to an overall decrease in gross profit margin from 14.6% to 11.8%, and a decrease in net profit attributable to shareholders by 23.7% to RMB39.9 million.
Corporate Milestones
2008 PET chips ploant commenced trial operation in Feb 2008
2007 PET chips plant commenced trial operation in late July
Set up eight PET bottle plant in Hangzhou
2006 Commenced construction of PET chips plant
Management
Mr Guan Lingxiang
Chairman & Managing Director
Mr Guan Lingxiang is the Chairman and Managing Director and one of the founders of the
Group.He is responsible for the Group business strategies and policies. Mr Guan
developed his expertise in business management based on his knowledge and experience
gained from working in the corrugated paper packaging products industry for more than
20 years. Prior to founding the Group, Mr Guan managed a corrugated paper packaging
products plant under a management and operation arrangement with Nan Fang Paper
Industries Co. (＾Nan Fang￣) for five years.
Group
Structure
Equipped
with solid production managing system and professional staff,
Full Apex has developed a strong business foundation. In 1999,
Full Apex was awarded the ISO 9002 certification for its quality
assurance. High standard management of ISO 9002 Quality Control
System is implemented into every single process, from procurement
of raw material to delivery of products. This has been assuring
the quality of each product and enables us to gain trust from
our customers.
Awards
2002 Appreciation Award for ＾Work Excellence and Superior Project Support￣Issued by
Smurifit-Stone Packaging Solution Centers in July 2002.
2001 Chengdu Full Apex Vessel Co,. Ltd was awarded the Certificate of Merit for
＾Excellence Prize for Enterprises with Foreign Investment in 2000 : in
Chengdu Gaoxin District.
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