Main date:
Public release closing date: 12: 00 noon on December 13, 2018 results: December 20, 2018
Listing date: December 21, 2018
The family guarantor:
Pudong International Finance Co., Ltd.
Summary of statistics:
Number of shares sold: 75158000 shares
Share sold in Hong Kong: 10%
Sales: HK $3.98 to HK $4.76
Estimated collection of funds: HK $299 million to HK $358 million
Income per hand: HK $4807.97
A summary of the collection
The collection is a corrugated packaging supplier, which mainly manufactures and sells (I) corrugated packaging products, including corrugated boxes, corrugated panels, heavy and special packaging products, and (ii) corrugated panels. In 2017, Foster Sullivan was the seventh largest corrugated packaging supplier in China in terms of industry income, and its market share in China was about 0.65%. By the end of November 2018, 11 factories were located in North, North, North and South China, all of which are equipped with corrugated production lines, which can produce corrugated panels and corrugated packaging products. In addition to the new factories in Huizhou and Taiyuan, which started commercial production in the second and fourth quarters of 2018 respectively, two factories have been set up in Guangdong and South China.
Industry summary
According to the China Institute of Manufacturing Technology, the output and consumption of corrugated core materials increased from 2020 million tons and 2030 million tons in 2012 to 2380 million tons and 2380 million tons in 2017, respectively, with a combined annual growth rate of 3.3% and 3.2%, respectively. Frost Shali materials from 2017 to 2022, the output and consumption of corrugated core increased at a compound annual growth rate of 5.7% and 5.7%, respectively. According to the China Institute of Manufacturing Technology, the output and consumption of containers and plates increased from 2080 million tons and 21.6 million tons in 2012 to 2420 million tons and 2470 million tons in 2017, respectively, with a compound annual growth rate of 3.1% and 2.7%, respectively.
Cymbals
The box plate and corrugated core are the most important raw materials in the manufacturing industry, and the cost of the box plate and corrugated core accounts for the main part of the total production, so the higher cost of the box plate and corrugated core may have a negative impact on the operating performance and prospects of the collection.
Valuation
According to the IPO document, assuming that the global development sale was completed on June 30, 2018, based on the approximately 3.01s of shares expected to occur after the completion of the sale, shares should account for a total of HK $2.47 to HK $2.66 per share of tangible assets (calculated at the rate of HK $1.125 per person).