World Houseware (Holdings) Limited
0713.HK
Hong Kong Stock Exchange0.40
HKD
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World Houseware (Holdings) Limited
0713.HK
(Hong Kong Stock Exchange)
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0.40
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ROIC.AI
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- Business
- World Houseware (Holdings) Limited manufactures and distributes household products and PVC pipes and fittings in the People's Republic of China and the United States; operates property investment activities; engages in food waste recycling and reborn resources businesses; provides transportation services; and trades in building materials, supplies, household products, and moulds. The company, founded in 1968 and headquartered at Flat A, 18th Floor, Bold Win Industrial Building, 16-18 Wah Sing Street, Kwai Chung, New Territories, Hong Kong, serves markets including major retailers such as Walmart, Kmart, Bed Bath and Beyond, Dollar General, Target, Woolworths, Tedox, and Edeka through its production facilities in Shenzhen's Pingshan and Longgang districts, with approximately 1,200 staff in Pingshan promoting plastic and textile household products like tablecloths, shower curtains, and placemats. Core segments encompass household products featuring textile and plastic items produced via automated facilities; PVC pipes and fittings manufactured by subsidiaries including Nansu Building Materials & Plastic Products (Shenzhen) Co., Ltd. on a 210,000 square meter site; property investments yielding rental income; and environmental initiatives focused on recycling with clean production technologies that convert waste into resources. Recent developments include the completion of residential property handover in July 2024 under the Pingshan Good Time Urban Renewal Project (花樣年旭輝好時光家園) in Shenzhen, with commercial properties expected by year-end 2025; receipt of RMB907,545,000 (approximately HK$964,447,000) in full compensation by December 2024 from the Shenzhen Government's Land Resumption Project in Pinghu, Longgang District, involving demolition of PVC production factories, relocation to temporary Dongguan facilities, and advance payments of RMB502,692,000 for land compensation price differences plus additional relocation and underground restoration compensations totaling RMB404,853,000 as of June 2025; ongoing construction of new factories on 119 mu industrial land in Shaxi Town, Zhongshan for PVC pipe relocation, with the remaining land allocated for sale or rental; placement of long-term bank deposits at 1.7% interest and short-term deposits at 1.45-1.60% as of June 2025; a HK$58,872,000 fair value loss on investment properties and HK$4,775,000 gain on long-term other assets related to redevelopment compensation receivables for the six months ended June 2025; turnover decline to HK$116,135,000 for the period, with household products down 67.8% to HK$12,085,000 and PVC pipes and fittings down 14.1% to HK$103,373,000 amid global economic challenges; and workforce reduction to 459 employees by June 2025 from 492 at year-end 2024.