Evergreen Announces Profits

HONG KONG, July 5, 2021 /PRNewswire/ -- Evergreen Products Group Limited (Stock Code: 1962.HK; ("Evergreen", together with its subsidiaries, the "Group") gladly announced that following a preliminary review of the currently available information which includes, but without limitation to, the unaudited consolidated management accounts of the Group for the five months ended 31 May 2021, the Group is expected to record a profit of around HK$28 million for the six months ended 30 June 2021 (the "Period"), as compared with HK$6.5 million for the six months ended 30 June 2020, and the revenue of the Group for the Period is expected to increase by approximately 46% as compared to the corresponding period in 2020.

Such substantial increase is primarily due to the global COVID-19 pandemic having been brought under control, the demand for and hence the sales of human hair extension products and lace products with high margin having gradually recovered and there having been a strong demand for braid products since the second half of 2020, which continued throughout the rest of the Period.

"Last year, under the COVID-19 epidemic, the Group's business was able to gain a foothold." Mr. Chang Yoe Chong Felix, Chairman, Chief Executive Officer and Executive Director of Evergreen, said, "The epidemic has eased this year, and the Group has made rapid adjustments to cope with the high demand for braid products in the market. It is expected to record a profit increase of approximately 46% over the same period last year. We are grateful to our employees and shareholders for their continuous support in difficult times and promise to continue to strive for success in stability and actively create greater value for shareholders."

About Evergreen Products Group Limited (Stock Code: 1962.HK)

Founded in 1962, Evergreen is one of the leading global manufacturers of hair goods. Since its establishment, with in-depth industry knowledge and reputed for its quality products and comprehensive product portfolio, the Group has built up unique competitive advantages in the global hair goods market. Headquartered in Hong Kong, the Group has three production centres and five production centres in China and Bangladesh, respectively. The Group employs more than 25,000 people around the world and operates in Bangladesh, Hong Kong, China, Japan and the United States.

SOURCE Evergreen Products Group Limited