June 27, 2023, from Hong KongSaihui Group Holdings Limited CFL Group Holdings Limited (hereafter referred to as”Saihui Group”) Submitted a prospectus to the Hong Kong Stock Exchange for IPO listing on the Hong Kong Main Board.
Saihui Group prospectus link:
Main business
Saihui GroupEstablished in 1978, as a one-stop clothing supply chain management solution provider with multinational business, it mainly provides clothing brands with comprehensive one-stop clothing supply chain management solutions covering all stages of the supply chain (including product development, product execution after customer order confirmation, logistics, and customs clearance) to help clothing brands improve the efficiency of their supply chains. It also provides D2C logistics services to e-commerce platforms to help deliver products directly to end consumers.
According to Euromonitor International, in terms of revenue in 2022,Saihui GroupIt ranked fifth in the Hong Kong apparel supply chain management market, with a market share of 2.5%.
During the business record period,Saihui GroupAlmost all of our clients are clothing brands headquartered in the US, with design studios in the US (mainly responsible for researching and analyzing fashion trends) and sales and marketing teams in Los Angeles, Wisconsin, and Pennsylvania in the US.Saihui GroupA multinational contract production network has also been established (consisting of more than 50 contract plants covering more than 10 countries in Asia, North America and Africa). The company has technical support teams in Hong Kong and several countries where contract plants are located to supplement product design and development and product execution capabilities, and conduct on-site quality inspections.
Saihui Group's revenueIt mainly comes from the business distribution of clothing supply chain management solutions (product categories include textiles, knitwear, sweaters, accessories, children's clothing) and D2C logistics services.
Shareholder structure
According to the prospectus,Saihui GroupIn the shareholder structure before listing,
Cai ShaoweiMr. CHOI Siu Wai William's CSW Trust holds 50 shares through Forever Bright Global%;
FabryMr. FREY Perry holds 50% of the shares through Big Daddy Holdings.
directorates
Saihui GroupThe board of directors consists of 7 directors, including 4 executive directors and 3 independent non-executive directors.
directorates(7 people)
executives(6 people)
In addition to the four executive directors, Mr. Cai Shaowei, Co-Chairman of the Board of Directors, Mr. Fabry, CEO IANNAZZONE JR Ralph Louis, Chief Executive Officer, and Mr. Su Zhihui, Chief Financial Officer, Mr. Wong Ha Hehua, Director of Product Purchasing, and Ms. Theunissen Sandra, Director of Compliance and Technology, are all executives.
Company performance
According to the prospectus, in the past three fiscal years of 2020/21, 2021/22, and 2022/23 (the end date of the fiscal year is March 31 of each year),Saihui GroupOperating income was $1,718 billion, $2.180 million and HK$2,067 million respectively, with corresponding net profits of HK$86.662 million, 40263 million and HK$73.347 million, respectively.
Intermediary team
Saihui GroupThe main intermediary team for this IPO includes: Agricultural Bank International is its sole sponsor; Deloitte is its auditor; Jingtian Gongcheng is its company's Chinese lawyer and Hong Kong lawyer; Kindu and Morgan Lewis are its brokerage firm's Chinese lawyers and brokerage firm Hong Kong lawyers; and Euromonitor International is its industry advisor.