Company introduction
According to the Euromonitor report, the group is one of the leading knitwear manufacturers in China by domestic manufacturer earnings in 2014. The Group provides customers with one-stop internal solutions, including design ideas, raw material procurement, sample development, quality products and on-time delivery. The Group's knitted products include pullovers, cardigans, vests and accessories, which are mainly exported to the Group's international clothing brand customers. The Group's product quality, design and development capabilities, on-time delivery and important one-stop solution services, combined with customer recognition and industry reputation, give the Group a competitive advantage and help the Group maintain and continue to strengthen its market position as a leading knitwear manufacturer.
For the year ended 2013, 2014, March 31, 2015 and the six months ended September 30, 2015, the Group's revenue was HK$2,542.81 million, HK$2,322.27 million, HK$2,567.67 million, and HK$1,756.43 million for the same period. Over the same period, the Group's profit was HK$368.40 million, HK$219.37 million, HK$273.35 million and HK$155.43 million respectively.
Intended use of proceeds
Assuming that no over-allotment rights are exercised, the net proceeds from the sale of shares are estimated to be approximately HK$539.9 million based on the median offer price of HK$1.18 per share. The Board intends to use the net proceeds for the following purposes.