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01575 REGAL PARTNERS

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  • 0.070
  • 0.0000.00%
Trading Dec 5 09:00 CST
192.50MMarket Cap-1707P/E (TTM)

About REGAL PARTNERS Company

We are mainly engaged in the production of sofa products and sofa covers in China, and have an integrated operation model for design, production, sales and marketing. According to the Euromonitor report, in terms of exports to the US in 2015, we are one of the top three upholstered sofa manufacturers in China. Our products are usually sold under the “Morris Holdings Limited” and “Morris Zou” brands. We mainly export “Morris Holdings Limited” brand sofa products to customers in the US market, and sell “Morris Zou” brand sofas and wooden furniture products domestically through direct stores in Zhejiang Province, China. We set ourselves apart in the industry by designing our own sofas and other furniture products. Most of the sofas and furniture products we sell to our customers are designed by our R&D center in Haining, and we also hire an experienced independent American sofa designer to assist us in product design. We mainly sell various sofa products under the “Morris Holdings Limited” brand to overseas markets (including the United States, Canada, the United Kingdom, Singapore, Australia, Ireland and South Korea), including non-functional sofas and functional sofas (with or without smart home functions) and sofa covers. Our sofa product customers include some of the largest furniture retail chains and retail storage clubs in the US. Our sofa products are mainly aimed at overseas consumers, and such consumers have greater demand for the quality and functionality of sofa products. To meet consumer preferences, our sofa products are equipped with smart home features such as audio functions, massage functions, beverage cooling functions, Bluetooth and USB ports. Since 2014, we have designed, produced, marketed and sold sofa products and wooden furniture products under our “Morris Zou” brand through our direct stores in Haining and Jiaxing, Zhejiang, China. Our target customers for sofa products and wooden furniture products under the “Morris Zou” brand are Chinese consumers. These consumers have broader and greater demand for the quality and functionality of furniture, and prefer European design. Our Haining R&D center included more than 40 employees on April 30, 2016, to conceive, design and develop new and innovative sofas and other furniture products and identify new trends and customer preferences in the US and the Chinese furniture market. To further support our sales and marketing functions, we have employed an independent agent and an independent consulting firm in the US to help sell and market our “Morris Holdings Limited” brand sofa products and expand our business in the US. In addition to sales and marketing functions, the agency and consulting firm also assists in providing after-sales services, including collecting feedback from customers and consumers and handling product returns and complaints. The agency and consulting firm also communicated with our Haining R&D center to help determine the latest seasonal themes, colors, appearance, functions and materials used, and to identify new trends and changes in the US market. With the support of this agent and consulting company, we have participated in the “High Point Furniture Show” held in High Point, North Carolina, by setting up a showroom since 2010 to promote and market the “Morris Holdings Limited” brand sofa products in the US. “High Point Furniture Show” is a furniture industry fair organized by the High Point Market Authority in High Point, North Carolina, USA. Our production facility is located in Haining City, Zhejiang Province, China. At the last practical date, we operated 15 sofa product production lines, 25 sofa cover production lines, and 1 other furniture product production line. As of April 30, 2016, our factory covers a total area of about 100,529 square meters, and can produce about 892,000 pieces of sofa products, 1,613,000 pieces of sofa covers and 11,000 pieces of other furniture products every year. To expand production capacity, we are preparing to build production facilities in Cambodia's Sihanoukville Special Economic Zone. The Cambodian facility is expected to be equipped with 5 production lines for sofa products and 9 production lines for sofa covers, with an estimated annual production capacity of about 95,000 pieces of sofa products and 145,000 pieces of sofa covers, respectively. Of the 9 sofa cover production lines, 6 will be used to produce and assemble our own sofa covers, while the remaining 3 will be used to produce sofa covers that will be sold directly to customers. After the production facilities in Cambodia are fully put into operation in 2017, the production capacity of our sofa products and sofa covers is estimated to increase by about 10.7% and 9.0% respectively over the year ending December 31, 2015. For the years ended 31 December 2013, 2014 and 2015, and for the four months ended April 30, 2016, our revenue was approximately RMB 984.0 million, RMB 824.7 million, RMB 926.5 million and RMB 250.5 million respectively, while our net profit was approximately RMB 33.5 million, RMB 24.4 million, RMB 83.1 million and RMB 5.8 million respectively. The US market is our main export market. Sales revenue in the US market accounted for more than 90% of our revenue for each year ending 2013, 2014, and December 31, 2015, and more than 85% of our revenue for the four months ending April 30, 2016. We intend to continue to use our competitive advantages to enhance the brand awareness and market recognition of our “Morris Holdings Limited” and “Morris Zou” brands by expanding our sales and distribution network, increasing the production capacity of our Cambodian facilities, and increasing sales and marketing efforts.

Company Profile

Symbol01575
Company NameREGAL PARTNERS
ISINKYG627281036
Listing DateJan 12, 2017
Issue Price1.05
Shares Offered250.00M share(s)
FoundedDec 18, 2013
Registered AddressCayman Islands
Chairmanjinpeng xie
Secretaryhailin lin
Audit InstitutionGuowei Certified Public Accountants Co., Ltd.
Company CategoryOverseas registration of Mainland Individuals control
Registered OfficeCricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands
Head Office and Principal Place of BusinessRoom 3103, 31/F, Trendy Trade Centre, 682 Castle Peak Road, Cheung Sha Wan, Kowloon, Hong Kong
Fiscal Year Ends12-31
Employees337
MarketHong Kong motherboard
Phone(852)21063288
Emailinfo@morrishome.com.hk
Business Royal Palace Smart Home Holdings Co., Ltd. (former name: Murong Home Furnishing Holdings Co., Ltd.) is a holding company mainly engaged in the production and sale of sofas, sofa covers and other furniture products. The company operates through two divisions, including the retail division and the production division. The company's business models include the original equipment manufacturer model (OEM), original design manufacturer model (ODM), and original brand manufacturer model (OBM). The company's products mainly include sofa sets, fixed sofas, activity sofas, and sofas equipped with smart home functions (audio, massage, cold drink function, Bluetooth and USB interface). The company mainly operates in domestic and overseas markets in China.

Company Executives

  • Name
  • Position
  • Salary
  • jinpeng xie
  • Chairman of the Board, Executive Director
  • 2.44M
  • ziyi zhuang
  • CEO, Executive Director, Authorized Representative
  • 1.33M
  • xueqin xie
  • Non-executive Directors
  • 217.00K
  • pinfang guan
  • Independent Non-Executive Director, Remuneration Committee Chairman, Chairman of the Nomination Committee, Chairman of the Audit Committee
  • 217.00K
  • chaofen li
  • Independent Non-Executive Director, Remuneration Committee Members, Audit Committee Members, Nomination Committee Members
  • 217.00K
  • jianhua chen
  • Independent Non-Executive Director, Audit Committee Members, Nomination Committee Members, Remuneration Committee Members
  • 217.00K
  • yongheng xue
  • Independent Non-Executive Director, Audit Committee Members, Nomination Committee Members, Remuneration Committee Members
  • 108.00K
  • hailin lin
  • Authorized Representative, Company Secretary
  • --

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