A summary of the collection
Collection of major subcontractors providing mold construction and related assistance services for Hong Kong services. In addition to traditional wood formwork frames, system formwork that can be assembled or fabricated and used in building construction and civil engineering projects. According to the Ipsos report, for the year ended March 31, 2016, collection accounted for about 9.7% of the total market share of the industry in Hong Kong.
The direct customers of the collection are the general contractors of the construction and soil-based projects, while the most popular customers include the Government, public transport operators, project owners and resort operators. For the year ended March 31, 2016, revenue collected from the Ministry of Public Affairs accounted for 50.8% of the total income.
Industry summary
According to the Hong Kong Special Administrative region's political report and Ipsos report from 2016 to 2017, the total output value of Hong Kong's plate mold construction industry increased from about 2.54 billion Hong Kong dollars in 2011 to about 4.49 billion Hong Kong dollars in 2015, with a compound annual growth rate of 18.4 percent. It is expected that the total output value of Hong Kong's plate formwork industry will increase from about 5.27 billion Hong Kong dollars in 2016 to about 6.78 billion Hong Kong dollars in 2020, with a complex annual growth rate of about 6.5 percent.
Cymbals
In the customer cluster, revenue from the five major customers all accounted for more than 95% of the total revenue in the three political years ending 2014, 2015 and 2016. If the collection fails to retain customers after the contract, or fails to obtain similar model items, it will have a negative impact on the collection of cash flow, business conditions, etc.
Part of the revenue from the collection comes from the construction projects acquired through investment projects, while the success rate of the investment projects recorded in the financial year ended March 31 last year was 2.5%. If the collection fails to win a new label or new customer, the revenue of the collection will be affected, and it will also have an adverse impact on sales and operating expenses.
Valuation
According to the IPO document, as of July 31, 2016, it was calculated on the basis of the 1,200,000 shares expected to be issued after the sale of the shares was completed, and the interim dividend of HK $128 million was declared to the stock market on January 17, 2017. the share capital should account for 0.090 to 0.114 yuan per share of tangible assets.
