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