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Dah Chong Hong Announces 2018 Annual Results | 1 *** Stable Results with Expansion in the Motor Business Despite Industry Contraction

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Dah Chong Hong Announces 2018 Annual Results | 1 *** Stable Results with Expansion in the Motor Business Despite Industry Contraction Press Release Feb 26, 2019 [For immediate release] Dah Chong Hong Announces 2018 Annual Results | 1 *** Stable results with expansion in the motor business despite industry contraction Dah Chong Hong Holdings Limited (“DCH”; stock code: 1828.HK) announced today its results for the year ended 31 December 2018. In 2018, DCH reported stable results despite economic headwinds in the second half of the year as core businesses delivered solid performance with the exception of the restructuring mainland China food and FMCG business. Overall, DCH revenue was steady with a slight decrease of 0.7% at HK$50,878 million and profit attributable to shareholders increased by 2.2% at HK$820 million. Earnings per share were 44.10 HK cents and the proposed final dividend is 12.38 HK cents per share. On a like-for-like basis, excluding the impact of new accounting standards, HKFRS 15 and HKFRS 9, revenue increased by 3.6% and profit attributable to shareholders increased by 6.7%. Motor Business During the second half of the year, government policies and market contraction in mainland China created a challenging operating environment, but revenue from the overall motor segment grew 9.6% to HK$38,137 million due to 4S shop expansion and increased exposure to premium segments. Operating profit decreased by 5.4% to HK$1,414 million as a result of expansion and acquisition costs, as well as adjustments to sales strategies to adapt to the changing macro environment and a delay in Euro VI vehicle supply in Singapore. In Hong Kong, strong passenger car sales and growth in the motor related business offset a decline in the commercial vehicle market for increased revenue and stable operating profit. In accordance with our expansion strategy, DCH has strengthened market coverage of Eastern and Southwest China with eight additional 4S shops for a total of 88 in operation. DCH also has another 12 authorisations in the pipeline including new stores for Audi, Mercedes-Benz and Bentley and six new Lynk & Co 4S shops, with the first opened in December of 2018. | 2 Looking forward, the motor business will continue targeted network expansion while growing the motor related business and enhancing value added services. Led by a partnership with Tencent to develop digital 4S shop services, we are developing on-to-offline connectivity across the business with new initiatives including a new used car sales platform, Usedcarmart.hk, and a mobile app for spare parts trading. Consumer Products Business Revenue generated by the consumer products segment in 2018 was HK$12,689 million, a decrease of 22.7% after the implementation of HKFRS 15 and 10.0% on a like-for-like basis mainly due to portfolio optimisation in the mainland China food and FMCG business and market restructuring in the mainland China healthcare businesses. Operating profit decreased by 37.2% to HK$103 million as a result of continuing business reengineering in the mainland China food and FMCG business and restructuring in Southeast Asia. On the contrary, operating profit in the food and FMCG business of Hong Kong, healthcare distribution, electrical products distribution and the logistics businesses improved against 2017. In 2018, end-to-end operational enhancements in the mainland China food and FMCG business continued with enhancements at every level of the business, including a revision of the management structure and stringent operational controls. In the Hong Kong food and FMCG business, DCH delivered an improved performance as a leading agency distributor and delivered an improved performance with consolidated facilities and strengthened supply chains. Going forward, we will continue to focus on differentiating the product offering, increasing channel penetration and strengthening our portfolio of over 50 in-house brands. The performance of the healthcare business is also promising, with gains in Hong Kong, Singapore and Malaysia, as we position DCH Auriga to be a regional distribution leader and leverage synergies within the wider CITIC family. Outlook Looking forward, we anticipate that economic factors may impact our industries in the coming year as falling consumer sentiment, Sino-US trade tensions and changing government policies continue to generate a volatile business environment. However, we have successfully completed a wide range of business enhancement and innovation initiatives aligned with our long term strategic objectives. Our | 3 motor business is poised for growth and our consumer products business is steadily capturing new opportunities. We are prepared for a challenging 2019 with a reinvigorated culture and a defined strategy to strengthen our position as a motor and distribution leader in Greater China. This press release should be read in conjunction with the full text of DCH’s HKEx Announcement dated 26 February 2019, which is available on https://www.hkex.com.hk. About DCH Dah Chong Hong (“DCH”; stock code: 1828.HK ) is an integrated motor and consumer products distribution company operating in Asia with an extensive logistics network. DCH is a leading distributor and dealer of motor vehicles in Greater China and provides a full range of motor related services including maintenance, rental, repair and financing. DCH’s consumer products business includes the distribution of food and FMCG, healthcare and electrical products as well as food processing, trading and retail. Dedicated to bringing to quality products to consumers across Asia, DCH is the preferred partner of over 1,000 brands from more than 30 countries with operations in 12 Asian economies. DCH is a subsidiary of China’s largest conglomerate CITIC Limited (stock code: 00267) and employs over 17,000 staff across the Asia Pacific region. For more details, please visit www.dch.com.hk. Media Enquiry Ms. Kitty Fung Ms. Gwen Walters (Chief Financial Officer) (Head of Corporate Communications and Investor Relations) Tel: (852) 2768-3311 Tel: (852) 3500-4875 Email: [email protected] Email: [email protected] [END] .
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