APP of Zhitong Finance was informed that GFT International Holdings Limited (hereinafter referred to as "GFT International") submitted to the HKEx, with BNP PARIBAS as its exclusive sponsor, as disclosed by the HKEx on March 21. It is worth mentioning that the company previously submitted two forms to the HKEx in January and September, respectively.

GFT International is the largest OEM manufacturer of plastic and metal toys in Vietnam (with a market share of 26.4% based on Frost Sullivan's earnings for fiscal year 2020). The company is also Vietnam's second-largest toymaker by fiscal year 2020 earnings, with a market share of 15.8 per cent. As an OEM toy manufacturer, the company provides an one-stop solution to world-renowned customers who seek to produce quality toy products at a competitive cost, with the idea of becoming a recognized leader of global well-known toy brands and a trusted solution provider partner.

As a toy manufacturer that established a large-scale production base in Vietnam, the company has accumulated rich management and management expertise there, and continues to improve the degree of automation of production. Vietnam has gradually become one of the most important production centers in the world, with its growing status and the company's growing expertise in toy manufacturing, so the company recorded steady revenue growth during the track record period. customers also cover a number of leading international toy brands. Currently, four of the top seven global toy brands are the company's top five customers during the track record period, according to Frost Sullivan.

The company's expertise in large-scale operation and production, and the ability to optimize the labor cost structure while maintaining an efficient workforce are key factors for the company's success in obtaining substantial orders from major customers. As of the last practical date, the company has three production plants in Vietnam and one production plant in China. The company's production plant has more than 120 assembly lines with a total floor area of about 140000 square meters. as at 31 December 2021, the company's production plant and offices employed more than 9700 employees, of whom more than 8500 worked in Vietnam. In addition, the company maintains its investment in joint production plants (i.e. 36%GFTU Haiyang and 25%SDV Haiyang), which enables the company to adjust production and increase flexibility according to market demand, while significantly reducing the company's costs, expenses and risks of holding buildings and operating, developing and maintaining production plants. In the future, the company will continue to promote digitization and automation in all stages of production, covering all aspects of the supply chain, in order to achieve sustainable business development and consolidate the company's leading market position.

Revenue increased 12.1% from $312.84 million in fiscal 2019 to $350.72 million in fiscal 2020, and further increased by 22.8% to $430.49 million in fiscal 2021. The increase is mainly due to the expansion of the company's business size, customer portfolio and product portfolio. In addition, the gross profit margin attributable to toy sales at the company's production plant in Vietnam increased significantly from 12.8% in fiscal year 2020 to 21.2% in fiscal year 2021.

Profit attributable to parent owners increased by 251.7% from $5.135 million in fiscal 2019 to $18.058 million in fiscal 2020, and decreased by 5.9% from $18.058 million in fiscal 2020 to $16.984 million in fiscal 2021. This is mainly due to the non-recurrent income of $3.7 million and the increase in administrative expenses that were terminated after the company recognized and modified other loans in fiscal year 2020, mainly due to the increase in legal and professional fees related to listing and the increase in the number of executives of the company to cope with business growth.