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Last year, the global financial turmoil caused a heavy blow to the US and
European economies, and Mainland China and Hong Kong were also affected.
Industries were dived into recession and demand for consumer products
dropped, and the plastic industry suffered as a result. However, as the
business environment gradually improved in the second half year and with the
effective policies of the Group, performance of the Group in the second half
year was better than in the first half year.
The global financial crisis seriously dammed international trade and global
consumption power and export and import activities worldwide. However, the
Group has started to manufacture high value-added plastic products such as
those for the manufacturing of digital electronic products and food
packaging in recent years. This led to improve on gross profit margin.
With the market showing signs of recovery recently, I believe the worst of
the global financial crisis has retreated. The management expects materials
prices to stabilize which will enable the Group to maintain the overall
gross profit margin of its business. The Group is thus cautiously optimistic
about its prospects.
I believe that the management, with many years of experience in the plastic
industry, will navigate the Group in overcoming the challenges in the
overall operating environment and capturing every opportunity for the Group
to ensure steady development of its business. Meanwhile, I would like to
express my gratitude to the customers, suppliers and shareholders for their
unfailing support, my fellow directors, executives and staff for their hard
work in the past year.
HUI Sai Chung
Chairman
