Main date:

Public launch closing date: 12: 00 noon on October 5, 2018

Announcement application results: October 18, 2018

Listing date: October 19, 2018

Guarantor:

Shang Sheng Rong Yun Co., Ltd.

Summary of statistics:

Number of shares sold: 500000000 shares

Proportion of shares sold publicly: 10%

Sales: HK $0.19 to HK $0.25

Estimated collection of funds: HK $9500 to HK $125 million

Income per hand: HK $5050.39

A summary of the collection

Jisheng is a retailer and supplier of foreign porcelain in Hong Kong,  high-end imports of quartz, ceramic and diamond porcelain. According to Ipsos, it was the largest consumer of foreign ceramic retail industry in Hong Kong in 2017, with a market share of 27.2%.

The collection has a total of 18 retail stores, mainly engaged in foreign porcelain retail services, followed by sanitary ware retail services. In addition to retail sales, the collection also supplies porcelain products to large-scale property development projects and commercial and residential renovation projects in Hong Kong and Macao, and sells porcelain and sanitary appliances to Chinese distributors.

Industry summary

According to Ipsos research and analysis, the total import value of foreign porcelain imports in Hong Kong decreased from about US $5170 in 2012 to US $7160 in 2017, with a complex annual growth rate of 6.7 per cent. It is expected that from 2018 to 2021, the total import value of foreign porcelain imports is expected to increase from about US $7130 to about US $8110, with a complex annual growth rate of 4.4%.

Cymbals

Jiyi's revenue mainly comes from the sale of its main products-porcelain, including porcelain and pottery. There is no guarantee that the future market will not fall, and there is no guarantee that the relationship will be maintained at a high level to ensure the profitability of the market. If there is any adverse impact on the demand or quality of porcelain and collective products, it may have a significant adverse impact on the business, prospects, operating conditions and operating conditions of the market.

Valuation

According to the IPO documents, assuming that the global development sale was completed on March 31, 2018, more than 20 shares were expected to be issued upon the completion of the sale of long-term shares, and a dividend of HK $109 million was declared on September 10, 2018, equivalent to HK $0.039 to HK $0.053 per share of tangible assets.