Mr Felix Chang, Chairman of Evergreen, is keynote speaker at Seminar on Manufacturing Investment: Setting Foot in Bangladesh

(Hong Kong, 27 February 2019) – Mr Felix Chang, Chairman, Chief Executive Officer and Executive Director of Evergreen Products Group Limited (“Evergreen” or the “Group”; stock code: 1962), a leading global manufacturer of hair goods, served as keynote speaker at Seminar on Manufacturing Investment: Setting Foot in Bangladesh yesterday. During the event, Mr Chang shared with attendees his insights into operating in Bangladesh, including the latest developments and business environments as well as the cost advantages, drawing from 10 years of experience in the country – Southeast Asia representing an important part of Evergreen’s manufacturing base.

Evergreen has been strategically deploying its production facilities since 2009. In addition to the production centres originally located in China, a production base has also been established in Bangladesh. The Group currently has two production centres in Bangladesh and three in China, and plans to complete construction of three production facilities in Bangladesh by the end of 2019. The production facilities in Bangladesh, which account for Evergreen’s principal manufacturing capacity, occupy a total GFA of 109,944 square metres with about 18,000 local employees and has significantly contributed to the Group’s profitability. Owing to its strategic factory deployment plan, Evergreen has recorded substantial revenue growth of 22.1% to HK$373.3 million, with adjusted net profit increasing by 32.1% to HK$54.7 million during the first half of 2018¹.

Mr Felix Chang, Chairman, Chief Executive Officer and Executive Director of Evergreen, said, “In view of rapidly rising labour costs in China, the Group has taken the pre-emptive step of seizing opportunities in Bangladesh, which can also help to avoid the impact of various uncertainties, including the US-Sino trade relationship. Manufacturing of hair goods is a labour intensive industry. Relatively lower labour cost and favourable tax treatment available in Bangladesh can enhance our competitive edges. Looking ahead, we will further expand our production capacity and operational coverage in Bangladesh, to fully utilise the new production facilities in the Bangladesh as well as China to complement each other and strengthen our core competitiveness, in order to achieve long-term sustainable growth.”

At the Seminar on Manufacturing Investment: Setting Foot in Bangladesh, organised by the Hong Kong Trade Development Council (HKTDC), and with the support of the Bangladesh government, Mr Mehdi Hasan, Consul General of the People’s Republic of Bangladesh to Hong Kong, was invited to deliver welcome remarks. Aside from Mr Felix Chang, the seminar also invited Dr Khalilur Rahman, Foreign Service Officer, Ministry of Foreign Affairs, Dhaka, Bangladesh, to introduce the Bangladesh government’s foreign investor policy, and Ms Jacqueline Yuen, Economist, Asian and Emerging Markets Research Team, HKTDC, to analyse topics including the macro-economy and trade laws in Bangladesh.

¹If excluding the value of the charge for employee services of newly granted share award of HK$3.0 million and the listing expenses of HK$11.5 million, along with the change in fair value of redeemable convertible preferred shares of HK$16.8 million recognised for both period

Photo Captions
Photo 1: Mr Felix Chang, Chairman, Chief Executive Officer and Executive Director of Evergreen shares his experiences with seminar attendees.
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Photo 2: “Seminar on Manufacturing Investment: Setting Foot in Bangladesh” serves as both a seminar and workshop for encouraging interaction among participants.
HKTDC seminar_02

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About Evergreen Products Group Limited
Evergreen is a leading global manufacturer of hair goods, including wigs, hairpieces, braids and high-end human hair extensions. Since 1962 when its founder commenced trading of wig products, Evergreen has kept growing and ranked fifth in synthetic hair goods sales globally with an approximately 4.0% share of the global synthetic hair goods market by revenue in 2016. It operates on a comprehensive business model covering various aspects of the hair goods business, from initial design, research and development to final delivery. With two production centres in Bangladesh and three productions centres in China, the Group benefits from its low labour costs and large labour pools, thus it enjoys economies of scale. For more details about Evergreen, please visit the Group’s website: www.epfhk.com

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