- Business
- Hyfusin Group Holdings Limited is an investment holding company principally engaged in the design, manufacture and sale of candle products with headquarters in Hong Kong and manufacturing operations in Vietnam. Incorporated in 2017 and listed on the GEM board of The Stock Exchange of Hong Kong in July 2018 under ticker 8512, the company operates as a subsidiary of AVW International Limited and targets mid-to-high-end products for department store operators and buying agents primarily in the United States, the United Kingdom, Norway, Spain and other international markets. It manufactures daily-use candles including pillar, taper, tea light and votive varieties; scented candles; decorative candles such as silicon, botanical and gel types; and complementary products like diffusers, with production supported by automated powder pressed lines, filling lines with climate-controlled tunnels, semi-automatic and handmade equipment. In 2024, the company established two new highly automated factories to enhance production capacity, commenced renovation of its first factory in October expected to complete in the first half of 2025 for improved operational efficiency, entered contracts with sales representatives for incentives on customer introductions to capture U.S. market growth, reduced bank borrowings amid high interest rates to strengthen liquidity, adopted a share option scheme in June for employee incentives, appointed Ms. Wong Wan Yan as executive director in November, completed a prior off-market share buy-back of 181 million shares from substantial shareholder Vibes Enterprises in February 2024, and generated record-high customer orders with revenue rising 5% to HK$909.4 million and net profit increasing 67.5% to HK$171.4 million driven by scented candle demand, provision reversals and cost controls.