Business summary

Longsheng Group is a subcontractor of foundation engineering services in Hong Kong, which has been established for a long time. It mainly undertakes foundation works including excavation and lateral support and capping works, disposal of excavation materials and supporting services, including removal of lateral supports, ground leveling, reinforced steel bars and ground clean-up. The Group's service requirements are mainly derived from the construction of commercial and residential buildings. In addition, its construction machinery mainly includes excavators, cranes, crushers and drills. Customers operate final projects from the public and private sector. Project The employer is a project of a government, statutory body or statutory corporation, and a private project All other types of commissioned items are covered.

Competitive advantage

The Group has a stable market position in the Hong Kong Foundation Industry

We have a variety of construction machines to carry out foundation engineering

The group establishes long-term good relationships with customers

Risk Factors

If the number of major customer accounts falls, the Group's financial performance may be significantly adversely affected

The Group's revenue mainly comes from projects that are of an unusual nature, so there is no guarantee that customers will provide new business to the Group

Ground engineering exposed the group to unpredictable geological or subsoil risks

Use of proceeds

Approximately 65.6% will be used to expand machinery through the purchase of additional excavators and cranes over the next 3 years

Approximately 21% will be used to hire additional employees in the next 3 years to strengthen manpower

Approximately 5.2% will be used to strengthen future marketing efforts

Approximately 8.2% is used for general working capital