Established in 1967, Huaying Construction Group Holdings has over 50 years of experience and is a construction contractor in Hong Kong. As the chief contractor in Hong Kong, the Group mainly undertakes building construction projects and RMAA (maintenance, maintenance, remodeling and addition works) projects of public and private organizations. According to reports, for the year ending December 2018, the Group ranked third among all chief contractors in Hong Kong based on revenue from building construction projects, accounting for about 5.2% of the market share. For the period up to 2016, 2017 and 2018 and for the three months ending March 2019, the Group was mainly responsible for the overall management of (i) items (i); (ii) formulating work plans; (iii) hiring subcontractors and supervising their works; (iv) purchasing building materials; (v) communicating and cooperating with customers and their advisory team; and (vi) ensuring compliance with safety, environment and other contractual requirements.

In the same period, all of the Group's building construction projects and most RMAA projects were project-based, while some RMAA projects (especially maintenance works) were based on fixed-term contracts. Most of the revenue came from building construction projects, and revenue growth was recorded. The Group's customers can be divided into two categories: public sector clients, including various government departments such as the Housing Authority and Education Bureau, educational institutions and non-governmental organizations; and private sector clients, such as private property developers and other listed and private companies. On September 17, 2019, the Group had nine ongoing building construction projects and eight ongoing RMAA projects. The original total contract amounts were approximately $10.403 billion and $1,489 million, respectively.

Competitive advantage

Has a long history and track record in building construction engineering and RMAA engineering business

Established long-term stable relationships with key business partners

Risk Factors

The business is based on multiple registrations, licenses and certifications. Failure to successfully continue the rules affects the business

Proceeds mainly come from non-recurring items, and are subject to the use of riskier proceeds relating to the bidding process

Approximately 87.3% was used to finance current costs of potential projects

Approximately 8.0% is used to strengthen manpower

Approximately 4.7% is used to enhance information technology