Zhitong Financial APP learned that China Pearl Spring Garden Co., Ltd. submitted an application for listing on the main board of the Hong Kong Stock Exchange on October 29th, with Dejian Finance Co., Ltd. as the exclusive sponsor. It is worth noting that the company submitted an application for listing on the main board of the HKEx on June 29, 2020 and March 16, 2021.

The company is mainly engaged in providing landscaping and municipal construction services in Nanjing, Jiangsu Province. In 2013, the company has obtained the first-class qualification certificate of urban landscaping enterprise and the third-level qualification of municipal public works construction general contract.

According to Frost Sullivan, the company is the second largest landscaping company in Nanjing according to the income from landscaping construction projects in 2020. In 2020, the company's market share in Nanjing landscaping market is 3.6%. The company also ranks seventh among all landscaping service providers in Jiangsu Province, with a market share of 0.28%. With the company's recognized brand image and experienced professional management team, the company has become a well-known landscaping and municipal construction company in Nanjing, and is expanding into the areas around Nanjing and Chinese provinces outside Jiangsu Province.

The company's customers include state-owned enterprises, local governments, owners and developers, the management or operation entity of the construction project and the construction company (which acts as the general contractor of the project and subcontracts the pre-determined part of the project to the company). Revenue from the top five customers accounted for 56.0%, 75.7%, 72.9% and 80.9% of total revenue for the years ended December 31, 2018, 2019, December 31, 2020 and June 30, 2021, respectively. For the years ended 2018, 2019, December 31, 2020 and the six months ended June 30, 2021, the company's revenue from its largest customers accounted for 17.5%, 27.0%, 34.1% and 29.2% of total revenue, respectively.

In terms of finance, as of December 31, 2018, 2019 and 2020, the income was 192 million yuan (in RMB), 223 million yuan and 295 million yuan respectively, and the annual profit was 40.821 million yuan, 37.076 million yuan and 44.02 million yuan respectively.

For the six months ended June 30, 2020 and 2021, the income was 126 million yuan and 164 million yuan respectively, and the profit during the period was 16.693 million yuan and 27.521 million yuan respectively.