① On the first day of Youbao's online listing, what are the highlights of the company's business? ② Three companies submitted listing applications this week. Which companies are worth paying attention to?
Financial News Agency, November 5 (Editor Feng Yi)The Financial Services Association brings you weekly information on Hong Kong stock IPOs.
As of press release, this week (October 30 to November 5), a total of 3 companies have submitted listing applications, 1 company has passed the hearing, and 3 other companies have prospected and 2 new shares have been listed.
Let's take a look at the submission form. A total of 3 companies have submitted listing applications this week:
1) October 31,Taifeng Culture Holdings Co., Ltd.A listing application was submitted to the main board of the Hong Kong Stock Exchange. Future Finance is the sole sponsor. The company had filing records on June 30, 2020 and February 1, 2023.
According to the prospectus, Taifeng Culture is a trading platform for famous contemporary Chinese paintings in China. According to Frost & Sullivan's report, in terms of transaction volume, for the year ended December 31, 2022, the company ranked first among all intermediaries dealing in contemporary Chinese painting in China, with a market share of 18.3%.
Financial reports show that in 2020, 2021, 2022, and the six months ending June 30 in 2022 and 2023, Taifeng Culture achieved revenue of approximately $134 million, $194 million, $269 million, and $110 million and $205 million respectively; net profit was RMB 31.858 million, RMB 67.595 million, RMB 86.030 million, RMB 282.25 million and RMB 73.599 million, respectively.
2) October 31,Beijing Saimu Technology Co., Ltd.A listing application was submitted to the main board of the Hong Kong Stock Exchange. Guangyin International is the sole sponsor. The company had a filing record on December 30, 2022.
According to the prospectus, Saimu Technology is a technology company focusing on simulation technology innovation in China. It is mainly engaged in the design and development of ICV (a new generation of advanced vehicle sensors, controllers, brakes and other devices) simulation test products and provides related testing, verification and evaluation solutions. According to Frost & Sullivan, in terms of revenue in 2022, the company accounted for about 5.5% of the market share of China's ICV testing and verification market, making it the second largest market participant.
Financial reports show that in 2020, 2021, 2022, and 2023 for the six months ending June 30, Semu Technology's revenue reached 71.203 million yuan, 107 million yuan, 145 million yuan, and 21.627 million yuan respectively. The net profit for the same period was RMB 51,579 million, RMB 375.71 million, RMB 486.86 million, and -RMB 11.065 million, respectively.
3) November 3,Lexi Group Co., Ltd.A listing application was submitted to the Hong Kong Stock Exchange. The sole sponsor was Huasheng Capital.
Lexi Group is a mobile advertising service provider that provides customers with comprehensive mobile advertising services, including mobile marketing planning, traffic acquisition, advertising material production, advertising placement, advertising optimization, campaign management and advertising distribution. According to iResearch's report, based on the total bill for 2022, Lexus Group has a market share of about 0.1%.
Financial reports show that in the 2020, 2021 and 2022 fiscal years and the five months ending May 31, 2023, Rox Group's revenue was 378 million yuan, 470 million yuan, 493 million yuan and 260 million yuan respectively; net profit for the same period was 49.8 million yuan, 57.5 million yuan, 68.3 million yuan and 24 million yuan.
Looking at the hearings again, only one company passed the listing hearing this week:
1) October 29,Yakuming Joint Biotechnology Co., Ltd.Following the listing hearing on the main board of the Hong Kong Stock Exchange, Omo, Komo, and Goldman Sachs were co-sponsors.
According to the prospectus, Pharmacology Alliance is a leading contract research, development and manufacturing organization (“CRDMO”) focusing on global antibody drug conjugates (“ADC”) and the broader biocoupling drug market (“CRDMO”). According to data from Frost Sullivan, based on earnings in 2022, the company ranked second in the world and number one in China in CRDMO for biocoupling drugs such as ADC.
According to financial reports, for the years ended December 31, 2020, 2021, 2022, and the six months ended June 30, 2023, Pharmacomin Joint Revenue was $96.353 million, $311 million, $990 million, and $993 million, respectively. In the same period, net profit of $26.299 million, $54.93 million, $156 million and $177 million was recorded, respectively.
Three other companies opened public offerings this week:
1) Happy Meeting Group (02473.HK):From October 30, 2023 to November 2, 2023, the company plans to sell about 103 million shares globally, of which the Hong Kong sale accounts for 10%, international placement accounts for 90%, and another 15% over-allotment rights. The offering price per share is HK$1.05 to HK$1.36, 2,500 shares per lot. It is expected that trading of shares will begin on November 9, 2023 (Thursday) at 9:00 a.m. on the Stock Exchange.
2) France (02499.HK):From October 31 to November 3, the offering price per share was HK$14.18 to HK$16.18, with 200 shares per lot. The company plans to sell 12.136,000 H shares globally, of which the Hong Kong public offering accounts for 10%, international sales account for 90%, and 15% over-allotment rights. The company is expected to go public on November 10th. Haitong International is the exclusive sponsor.
3) Huashi Group Holdings (01111.HK):From October 31, 2023 to November 3, 2023, the company plans to sell 125 million shares globally, of which 10% will be publicly sold and 90% will be placed (which can be redistributed). The offering price per share is HK$0.88-1.04, with each lot of 4,000 shares. It is expected that trading of shares will commence on November 10, 2023 (Friday) at 9:00 a.m. (Hong Kong time).
There are two more IPOs listed this week:
1) November 2nd,Chain precast brand pot ring (02517.HK)Listed on the Hong Kong Stock Exchange, it rushed higher and declined after opening on the first day. At the highest point, it rose by more than 3%. As of November 3, it was reported at HK$598 per share, in line with the issue price, with a total market value of HK$16.38 billion.
2) November 3,Unmanned retail concept stock Youbao Online (02429.HK)Listed on the Hong Kong Stock Exchange, it closed up 40.87% on the first day of listing, with a total market capitalization of HK$11.37 billion.
According to reports, Youbao Online is a domestic vending machine operator, accounting for 7.6% of the market share based on total products in 2022. As of June 30, 2023, the company network has 61,888 vending machine user points, covering 157 cities in mainland China and 28 provincial administrative districts, of which 87.3% are concentrated in first-tier, new-tier and second-tier cities.
However, financial reports show that Youbao Online's revenue in 2020-2022 was 2,727 billion, 1,902 million, and 2,676 billion respectively; net profit for the same period was 39.649 million, -1,184 million, and -188 million, and still in loss for the past three years.