Q P Group's Net Profit Surges 61% to HK$129 Million in 2024

By: Q P Group Holdings Limited via ACN Newswire

March 24, 2025 at 08:27 AM EDT

HONG KONG, Mar 24, 2025 - (ACN Newswire) - Q P Group Holdings Limited (“Q P Group” or the “Group”; Stock code: 1412), a paper product manufacturing and printing services provider, today announced its annual results for the year ended 31 December 2024 (“FY2024” or the “Reporting Period”).

In FY2024, the Group achieved revenue of approximately HK$1,210.9 million, representing a year-on-year increase of approximately 16.5%, driven by increased demand from its original equipment manufacturer (“OEM”) and web sales customers. Bolstered by continuous improvements in operational and production efficiency, profit attributable to the equity holders of the Company surged approximately 61.2% to approximately HK$129.1million.

The Board of Directors has proposed a final dividend of HK11.0 cents per share (FY2023: HK8.0 cents) for FY2024. Together with the interim dividend of HK3.0 cents (FY2023: HK2.0 cents) already paid, the total dividend for FY2024 will be HK14.0 cents per share (FY2023: HK10.0 cents).

Business Review

During the Reporting Period, the Group remained highly focused on steady business expansion and optimisation of operations, successfully capturing new business opportunities driven by rising demand for its major OEM customers’ products. Additionally, the Group made steady progress in diversifying its business across various product lines. Leveraging strengths in product development, production know-how and operation standards for trading cards production, it cultivated business relationships with an industry-leading global trading card company and various publishers in China. During the Reporting Period, the Group’s OEM sales reached approximately HK$984.8 million, up approximately 16.4% from approximately HK$845.8 million for FY2023.

In terms of web sales business, riding on the well-established market position, enhanced customer experience and effective cost-saving measures, the Group’s web sales achieved steady growth during the Reporting Period. Q P Market Network (“QPMN”), our recently launched business-to-business-to-consumer (B2B2C) e-commerce platform, also made ongoing efforts to enhance its website’s infrastructure and functionality, and successfully built relationships with business partners from all over the world. In FY2024, the Group’s web sales amounted to approximately HK$226.1 million, representing a growth of approximately 16.9% as compared with approximately HK$193.4 million for FY2023.

In respect of operations, the Vietnam plant commenced full-scale operations during the Reporting Period, becoming a crucial production hub for the Group. In September 2024, the Group entered into a construction agreement with a contractor for the construction works in relation to the expansion of the Vietnam plant.

Prospects

Looking ahead, the Group will stay focused on steady business expansion and operational optimisation. It aims to strengthen its OEM solutions by innovating in product structural design, printing and finishing techniques, and new material utilisation. To capitalise on the booming trading card games market, the Group will actively participate in relevant trade shows to enhance market penetration and position itself to seize emerging opportunities.

The development of QPMN remains the Group’s key growth strategy in web sales business in the long run. The Group will focus on enriching its e-commerce solutions for product customisation, expanding its product range and enhancing its integration with popular e-commerce platforms, in order to better align with the market standard and expectations of business partners. For the Original Brand Manufacturer (“OBM”) business, the brand’s dedicated team has formulated a series of online and offline approaches, aiming to progressively diversify the brand’s sales channels, enlarge customer base, broaden market presence and grow the customer base. Besides playing cards, the brand will explore the market potential of other products such as trading card games, board games, and tarot decks to promote brand awareness and expand revenue streams.

The Group will continue to optimise production operations, with the expansion of its Vietnam production base progressing on schedule and expected to commence operations in the third quarter of 2025. This strategic expansion will enable the Group to develop a more comprehensive supply chain in Vietnam and diversify the potential operational risks arising from geopolitical factors. On the other hand, following the recent milestone of achieving the certification of 2i level of Industry 4.0 maturity, the Group is committed to advancing its digital transformation through improvement in utilisation of operational data and scaling up the application of smart operations across more production lines and workshops.

Mr. Cheng Wan Wai, Founder, Chairman and CEO of Q P Group concluded: “The manufacturing industry is predicted to face a complicated economic landscape with both opportunities and challenges in 2025. The consumer market is expected to show resilience, underpinned by steady economic growth and declining inflation. In contrast, the imposition of tariffs and heightened protectionism driven by widespread geopolitical tensions will inevitably impact the manufacturing sector. Based on our solid business and financial foundation, we are confident about the long-term prospect of the Group. We will continuously implement appropriate strategies to sustain steady growth and create long-term value for our stakeholders.

About Q P Group Holdings Limited (Stock code: 1412)

Established in Hong Kong in 1985, Q P Group is one of the leading paper-based tabletop games and greeting cards manufacturers in the PRC, with production sites in Dongguan and Heshan in Guangdong Province and Phu Ly City in Ha Nam Province, Vietnam. Its principal product categories include tabletop games, greeting cards, trading cards, educational items and premium packaging. Since 2010, the Group has been operating web sales businesses to provide online solutions for diversified customised paper products and gift items. Currently, the number of its active registered users has reached over 77,600.

Q P Group’s major websites are:
www.makeplayingcards.com
www.boardgamesmaker.com
www.createjigsawpuzzles.com
www.printerstudio.com

Q P Market Network:www.qpmarketnetwork.com

For more information, please visit: https://www.qpp.com/

Media Enquiries Strategic Financial Relations Limited
Vicky Lee	Tel: (852) 2864 4834	Email:vicky.lee@sprg.com.hk
Phoebe Leung	Tel: (852) 2114 4172	Email:phoebe.leung@sprg.com.hk
Will Cheng	Tel: (852) 2864 4894	Email:will.cheng@sprg.com.hk
Website: http://www.sprg.com.hk

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Q P Group's Net Profit Surges 61% to HK$129 Million in 2024

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