The Group is a leading financial leasing company in Hubei Province, China, with the longest operating history among the financial leasing companies in Hubei Province. According to Euromonitor International, the Group ranks first among the registered financial leasing companies in Hubei Province with total assets of 1.73 billion yuan. Established in 2008, the Group mainly focuses on the financing needs of SMEs in Wuhan and other places in Hubei Province, and already has a diversified customer base. As of July 31, 2015, the Group has 86 active customers in different industries.
For the years ended 31 March 2013, 2014 and 2015 and the four months ended 31 July 2015, the Group's income was HK $181.82 million, HK $220.38 million, HK $226.94 million and HK $81.23 million respectively. For the same period, the Group's profits were HK $67.04 million, HK $70.25 million, HK $65.56 million and HK $21.65 million respectively.
The proposed use of the proceeds assumes that the over-allotment option has not been exercised, based on the median issue price of HK $2.30 per share, the net proceeds from the share offer are estimated to be approximately HK $188.8 million. The Board intends to use the net proceeds for the following purposes: