Futu News reported on January 9th, $CONTIOCEAN (02613.HK)$ On the first day, it opened high and is currently up 6.76%, reporting at HKD 33.95 as of the time of writing, with a transaction volume of 26.0151 million HKD and a total market value of 1.358 billion HKD.

Market source: Futu Securities.

According to previous reports, during the dark trading session on the last trading day, the Eco-friendly Concept stock opened high and closed up by 6.45%, reporting at HKD 33.85, with a transaction volume of 11.1265 million HKD; each lot is 100 shares, and with no handling fee, each lot earns HKD 205.

In addition, according to publicly available information, during the public offering stage, the Eco-friendly Concept received 55.33 times the subscription, and the final number of shares offered in the public offering was 1.8942 million shares, accounting for about 18.94% of the total shares offered. A total of 12,389 valid applications were received, with 7,755 applications being accepted, and the percentage of H shares allocated per lot applied for was approximately 40.01%.

Furthermore, during the international placement stage, the Eco-friendly Concept received 0.95 times the subscription, with the final number of international offer shares being 8.1058 million shares, which corresponds to 81.06% of the total shares offered. Futu has organized the relevant data as shown in the table below:

Company Overview.

Hui Ge Eco-friendly Concept is a provider of environmental protection equipment and systems for China CSSC, serving customers worldwide. According to Frost & Sullivan data, as of December 31, 2023, based on the total number of completed orders for ship exhaust purification systems in 2023 and the cumulative orders on hand, the company ranks third among ship exhaust purification system providers in China CSSC and fourth among all ship exhaust purification system providers globally.

The company has now developed and commercialized various environmental protection equipment and systems for ships. Specifically, the company's equipment and systems aim to help clients (such as shipowners) reduce sulfur and GHG emissions. Additionally, we enhance onboard living conditions and strengthen maritime operations by providing internal designs and supplying equipment and systems, aiming to help clients improve their crew's quality of life.

Moreover, the demand for the group's equipment and systems is driven by various requirements. For example, the International Maritime Organization has set a 0.5% sulfur cap on RBOB Gasoline starting in 2020 and introduced measures such as EEXI and CII from 2023. On July 7, 2023, the International Maritime Organization revised its GHG reduction strategy with the aim of achieving net-zero emissions by 2050. In addition, the European Union will launch the EU Emission Trading System for the shipping industry starting in 2024 and plans to introduce the FuelEU Maritime rules in 2025. The evolving ESG regulatory framework has already driven and will continue to drive growth in the market for ship environmental protection equipment and systems.

Financial Overview

In terms of financial status, Huige Eco-friendly Concept had revenues of 0.141 billion yuan, 0.267 billion yuan, and 5.10 billion yuan in 2021, 2022, and 2023 respectively, with a compound growth rate of 37.9%; during the same period, the gross profit was 0.048 billion yuan, 0.1 billion yuan, and 0.242 billion yuan, with a compound growth rate of 125.57%.

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Editor/Afina