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Tuesday, 28 April 2020, 17:15 HKT/SGT
China Leon Recorded a Significant Increase in Net Profit of RMB396.5 million
International Network and Smart Inspection;
Technological Innovation Leads the Future

HONG KONG, Apr 28, 2020 - (ACN Newswire) - China Leon Inspection Holding Limited ("China Leon" or the "Company" together with its subsidiaries, the "Group", stock code: 1586), announced its annual results for the year ended 31 December 2019 (the "Year").

During the Year, the Group recorded revenue of RMB396.5 million, representing an increase of 69.6% when compared with the corresponding period of last year, which was mainly attributable to the Group's successful development in the field of commodities and energy inspection. The Group's gross profit increased by 51.5% from RMB122.9 million in 2018 to RMB186.2 million in 2019. The Group's profit for the year increased by 486.8% from approximately RMB4.9 million in 2018 to approximately RMB28.8 million in 2019. The Board has proposed a final dividend of RMB0.0375 per share for the year ended 31 December 2019 to shareholders as a reward for their support.

Continued to improve service network, grew customer base and enhanced competitive advantages
The Group has 20 inspection agencies and laboratories within China, covering major domestic trading ports and cities, including Hong Kong, Qinhuangdao, Tangshan, Tianjin, Cangzhou, Nanjing, Jiangyin, Hunan, Hubei, Guangzhou, Zhuhai, Xinjiang, Shaanxi, Inner Mongolia, Dalian, Zhoushan, Xiamen, Nanjing and Dongguan. Overseas, the Group has 8 inspection agencies and laboratories, covering Singapore, India, Malaysia, Indonesia, Pakistan, Brunei and Australia. The key customers of the Group include CHN Energy, Shaanxi Coal Group, China Coal Group, Yitai Group, Datang Group, China Resources Group, CNPC, SINOPEC, CNOOC, ChemChina, SinoChem, Shell, BP, Exxon - Mobil, Chevron, Total, Saudi Aramco, ENOC and Rosneft, etc.

Continued to strengthen core competence through technological improvement and R&D
The Group continued to attract new talents through incubator framework and M&A. The Group actively participated in the formulation of national and industry standards. During the Year, the Group participated in creation of four national standards. The Group also crystallized 39 corporate standards. The Group successfully deployed the in-house developed 'Leon LIMS' laboratory system and industrial robot sampling system which significantly improved the efficiency and consistency of sampling process. The Group will continue to build competitive advantage through increasing effort in R&D and developing industry-leading technologies.

Mr. YANG Rongbing, Executive Director and Vice Chairman of China Leon Inspection Holding Limited, said "In 2020, our growth strategy is based on further strengthening existing business as well as continuing to expand into new service offerings. We will increase our competitive advantage through better allocation of enterprise's resources to improve cost control and performance measurement as well as enhancement of our enterprise-wide business platform. We will continue maintain our leading position and market share in its established markets while further promoting our "Leon" brand, and improving our management and control systems to deliver a better return to our shareholders."

Topic: Press release summary
Sectors: Daily Finance, Daily News
From the Asia Corporate News Network

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