Futu News reports on January 10, $NUMANS (02530.HK)$ On the first day, it opened lower and is now down by 1.25%, currently reported at 0.79 Hong Kong dollars, with a transaction amount of 27.3132 million Hong Kong dollars and a total market value of 0.79 billion Hong Kong dollars.

Market source: Futu Securities.

According to previous reports, on the last trading day in Futu's dark market trading, Newman traded high and then dropped, closing down 1.25%, reported at 0.79 Hong Kong dollars, with a transaction amount of 7.5993 million Hong Kong dollars; each lot is 8,000 shares, excluding fees, with a loss of 80 Hong Kong dollars per lot.

Additionally, according to previously disclosed information, during the public offering phase, Newman received 65.17 times oversubscription and the final number of shares offered in the public offering was 0.1 billion shares, accounting for about 40% of the total shares offered. A total of 9,340 valid applications were received, with 5,958 applications accepted; the percentage of lots allocated for each application was about 50.01%.

Furthermore, in the international placement phase, Newman received 1.03 times oversubscription, with the final number of internationally offered shares being 0.15 billion shares, equivalent to 60% of the total shares offered. Futu News has organized the relevant data as shown in the following table:

Company Overview.

Newmans primarily engages in the marketing, sales, and distribution of nutritional products in China. During the historical period, the company's nutritional products were sold under exclusive brands (i.e., ‘Newmans’ and ‘Newmans’), which can be roughly divided into five main categories: algae oil DHA, probiotics, Vitamins, multivitamins, and algae calcium products. The company's Business largely depends on its brand, and its suppliers manufacture the company's nutritional products using an OEM model or label the products with the company's brand.

The company began selling and distributing DHA products in 2007, being the exclusive brand owner of algae oil DHA in China's maternal and infant nutrition industry. The target Consumer of the company's nutritional products includes pregnant women, postpartum women, infants, and children. In particular, the main raw materials for the company's algae oil DHA products are supplied by DSM Group. DSM Group is dedicated to providing solutions in Pharmaceuticals, infant nutrition, and dietary supplements, with a market presence in over 60 countries, including China, North America, India, and Brazil. According to Frost & Sullivan, DSM Group is regarded as the leader in China's algae oil DHA market, manufacturing over 40% of the raw materials and finished products in China's algae oil DHA market by output and value in 2023.

Financial Overview

In terms of financial condition, Newman achieved revenues of 0.338 billion yuan, 0.367 billion yuan, and 4.27 billion yuan in 2021, 2022, and 2023 respectively, with a compound growth rate of 12.4%; during the same period, the gross profits were 0.247 billion yuan, 0.273 billion yuan, and 0.321 billion yuan, with a compound growth rate of 14.07%.

Use of funds

Regarding the use of proceeds, Newman is expected to have a net amount of approximately 0.1205 billion Hong Kong dollars (based on an offering price of 0.8 HKD) from the Global Offering. According to the prospectus, Newman intends to use the funds raised from the Global Offering for the following purposes:

Approximately 63.5% of the net amount from the Global Offering will be used to enhance marketing efforts through various marketing methods to increase brand public awareness; approximately 36.5% of the net amount from the Global Offering will be used to promote products in Hong Kong and to expand the sales network into Hong Kong.

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Editor/Afina