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Hung’s Food Group names Jessica Yeung head of marketing and eCommerce

Hung’s Food Group has appointed Jessica Yeung as head of marketing and eCommerce. Prior to this role, Yeung was marketing and communications director at Future Bright Group, according to Yeung’s LinkedIn profile. During her three years at Future Bright Group, she was responsible for upholding a regional role at the company by overseeing diversified marketing functions of the above business units across Macau, Hong Kong, China and Taiwan. Yeung also has over ten years of experience in food and beverage marketing, such as Fairwood Holdings, Maxim’s Group and Café Deco Group.

Back in March last year, Hop Hing Group, the parent company of Hung’s Food Group announced its annual results for the year ended 31 December 2020. According to the results, the business environment of the food and beverage industry has been the epicentre of the pandemic in 2020. The Group had adopted a number of cost control measures, including those aimed at encouraging cash flow management, facilitating better rental concessions with property owners, optimising manpower deployment and distribution costs, and the likes to contain its operating costs.

Furthermore, the group launched its “Family Kitchen” product line in 2020 and the well-established delivery business model contributed notably during the pandemic. Nevertheless, the Group’s results were ineluctably affected by the COVID-19 pandemic. During the year, the group’s revenue amounted to RMB$1,590m. Gross profit and gross profit margin were RMB 945.2 million and 59.4% respectively. Loss attributable to equity holders of the Company for the year was RMB$81.9m, with net loss in the second half of the year significantly narrowed.

As of 31 December 2020, the group together with its joint venture had 580 stores in operation, according to the report. To enhance resources allocation efficiency, the group gradually closed down stores of its minor brands, whereas new store openings were slowed down for the Group to exercise better control of expenditures and maintain a healthy balance sheet and strong cash position.

On the other hand, the Group seized new opportunities that emerged from the industry consolidation by adjusting its network based on the latest city development plans, mapping out the location of its stores to ensure service coverage through different models so as to enlarge the potential for future development.

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