Evergreen Products Group Limited Provides Earnings Guidance for the Second Half of 2019; Expects the Construction of New Facilities in Bangladesh
The Group expected that the construction of new facilities in Bangladesh will continue in full speed until the end of 2019 but will slow down afterwards. Planned addition of gross floor area to the production facilities in Bangladesh is around 100,000 square metres. Training to different levels of workers especially in relation to human hair products is in full swing now. The Group has integrated its bleaching and dyeing complex and the Group's human hair production technique with its existing facilities in Bangladesh to enhance the utilisation of the Group's production facilities in Bangladesh (the "Bangladesh Factory"). With full support from the Bangladesh Factory, the Group keeps on setting up more sales offices in other Asian countries for selling high-end human hair extensions under self-owned brands with an aim to keep boosting sales and profit margins. The Group also searches for opportunities to integrate with some one-stop hair care centres which specialise in providing tailor-made toupees to treat hair loss in Asian countries such as the PRC and Japan. These plans of downstream integration are expected to boost the Group's gross profit margin and net profit to next level.