Stock Overview Key Date: Public Offer Deadline: December 8, 2017 12:00 noon Announcement Application Results: December 14, 2017 Listing Date: December 15, 2017 Joint Sponsor: China International Finance Hong Kong Securities Co., Ltd. CMB International Finance Limited Statistical Digest: Number of shares offered under the global offering: 433,334,000 shares of Hong Kong shares offered: 10.0% Offer Price: HK$4.46 to HK$4.46 5.36 HKD Estimated amount raised: HK$1,933 billion to HK$2,323 billion Admission fee per lot: HK$2,707.00 Group Overview The Group provides integrated solutions for Chinese and African state-owned construction enterprises, mainly engineering contracts for housing construction and infrastructure construction projects. According to Frost & Sullivan's data, in 2016, the group was the largest African state-owned construction contracting company in the Beijing-Tianjin-Hebei region and the second-largest African state-owned construction contracting company in China. For the year ended December 31, 2016, 64.5% of the Group's construction contract revenue came from projects in the Beijing-Tianjin-Hebei region. The Group's construction engineering contracting business mainly includes procurement and construction (PC) contracting model, construction engineering contracting model, and engineering, procurement and construction (EPC) contracting model. In addition to construction contracting, the Group also engages in other non-core businesses, including developing and selling residential and commercial properties and providing property management services in China. Industry Overview According to data from the National Bureau of Statistics of China and Frost & Sullivan's estimates, the construction output value in the Beijing-Tianjin-Hebei region increased from RMB 1,307.1 billion in 2011 to RMB 1,925.1 billion in 2016, with a compound annual growth rate of 8.1%. Construction output in the Beijing-Tianjin-Hebei region is expected to increase to RMB 2,8487 billion in 2021, with a compound annual growth rate of 8.2% from 2016 to 2021. Most of Venture Group's construction projects take a long time to complete, usually 6 months to 3 years. Group contracts for construction engineering contracting services generally require customers to pay in installments and regular progress payments. If the Group's customers delay or fail to pay, or if the order opening and settlement process is severe, it may adversely affect the Group's cash flow situation, and the Group may not be able to meet its huge working capital requirements. The valuation is based on the prospectus, if the special dividend declared by the Group on November 10, 2017, and if the global offering has been completed on June 30, 2017, the net value of each tangible asset value of the shareholders should be HK$2.29 to HK$2.51 (calculated at an exchange rate of HK$1.00 to RMB 0.84377 per HK$1.00) based on the 1,733 billion shares expected to be issued following the completion of the share sale.