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乙德投资控股有限公司(6182.HK)新股速递

Yide Investment Holdings Limited (6182.HK) New Stock Express

致富證券 ·  Dec 29, 2017 00:00  · Researches

Main date:

Closing date for public sale: 12: 00 noon on January 4, 2018

Announcement application results: January 16, 2018

Listing date: January 17, 2018

The family guarantor:

Shang Sheng Rong Yun Co., Ltd.

Summary of statistics:

Number of shares sold: 200000000 shares

Proportion of shares sold publicly: 10.0%

Sales: HK $0.52 to HK $0.68

Estimated collection of funds: HK $104 million to HK $136 million

Income per hand: HK $5494.82

A summary of the collection

It is a construction materials contractor mainly providing construction materials and related installation services in Hong Kong. The products mainly include: 1) internal insulation materials, especially gypsum products; 2) wood flooring products; 3) glass reinforced concrete products; 4) roof tiles; and 5) woodworking products. In addition to providing construction materials, Jiguan also employs subcontractors to carry out related installation services according to customer requirements.

In the year ended March 31, 2017, the number of tags submitted by the collection was 77, with a winning rate of 51.5%. Among the main clients of the collection during the period, 63.9% participated in projects of private institutions and 36.1% participated in projects of public institutions. In addition, all gypsum products of supply and supply and installation projects only come from German gypsum suppliers, and the total revenue generated by gypsum products during the period accounts for about 54.0% of the corresponding year's revenue. The collection of wood flooring products include "HUGO" brand products and German brand sports wood flooring products and so on.

Industry summary

According to Ipsos data, the income of the gypsum supply industry in Hong Kong increased from about HK $25.7 million in 2012 to about HK $143 million in 2016, with a compound annual growth rate of 53.7%. Expected income from the banking industry will increase from about 1.801 billion Hong Kong dollars in 2017 to about 2.438 billion Hong Kong dollars in 2021, with a compound annual growth rate of 7.9 percent. In addition, the revenue from the wood flooring supply industry of Hong Kong Yuyu Construction increased from HK $431.2 million in 2012 to about HK $5.325 in 2016, with a compound annual growth rate of 5.4%. Expected banking income will increase from about HK $5.628 billion in 2017 to about HK $5.966 billion in 2021, with a compound annual growth rate of 1.5 per cent.

Cymbals

The gypsum products, wood flooring products and other construction materials are supplied by the supplier. If there are serious difficulties in the operation of the manufacturing supplier, which leads to a serious shortage or delay in the delivery of construction materials, or has a significant adverse effect on the revenue, operating conditions and operating performance of the collection.

Valuation

According to the IPO document, as of June 30, 2017, shares should account for HK $0.18 to HK $0.21 per share of tangible assets calculated on the basis of the 8.00 shares expected to be issued after the completion of the sale of long-term shares.

The translation is provided by third-party software.


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