Business Overview Financial Summary
Since its establishment in 1989, the Group has been a supplier of design and construction solutions for façade engineering and permanent gondola engineering in Hong Kong. According to reports, the Group is the only service provider in Hong Kong that provides one-stop design and construction solutions for exterior wall engineering and permanent gondola engineering. The group's design and construction solution services for exterior wall engineering and permanent gondola projects usually include design, drawing up construction plans and performing structural calculations, procurement of building materials and permanent gondolas, installation and logistics arrangement services, site project supervision, post-completion maintenance services, and project management. The Group also provides a smaller number of one-time maintenance and maintenance services for exterior wall works, and a smaller number of one-time and routine maintenance services for permanent gondola works. The Group's exterior wall projects focus on the private sector, including residential buildings and commercial buildings. They can be divided into three categories, namely platform façade works; curtain wall projects; and aluminum window projects. The permanent gondola project covers residential buildings, commercial buildings, industrial buildings and community facilities in the private and public sectors. The Group's clients are mainly general contractors. All of our major customers are based in Hong Kong.
Competitive advantage
The only one-stop provider of design and construction solutions for façade engineering and permanent gondola projects in Hong Kong, with a leading market position in the permanent gondola engineering industry
Long-term business relationships with major customers and major suppliers
Risk Factors
Business operations rely on suppliers to supply high-quality building materials and permanent gondolas in a steady and timely manner; and revenue from the five major customers accounts for the majority of the group's total revenue
The amount of revenue that the group can earn from the project may be lower than the amount awarded due to contract adjustments and the recoverability of contract assets
Use of proceeds
Approximately 55.5% will be used to fund the upfront costs of the new project (excluding performance guarantees)
Approximately 22.7% was used to fund the issuance of performance guarantees for new projects
Approximately 8.0% were used to hire additional workers to expand labor capacity
Approximately 3.8% were used to purchase enterprise resource planning systems and additional computer equipment
Approximately 10.0% is used as general working capital