November 27 news from the Financial Associated Press (edited by Ma Yijie)The Financial Associated Press brings you this week’s Hong Kong stock IPO information.
As of press time, this week (November 21-November 27), two companies have listed on the Hong Kong Stock Exchange, 7 companies have submitted forms, 7 companies have passed hearings, and another new stock has been listed.
Let’s look at the submission form first. There are 7 companies submitting forms this week:
1) November 21,Ark Yunkang Holdings LimitedIt is the first time to submit a form to the main board of the Hong Kong Stock Exchange, with Citigroup, UBS and ABCI as joint sponsors.
According to CIC, in terms of average monthly active users in 2021, Ark Jianke, a subsidiary of Ark Yunkang, is the largest online chronic disease management platform in China. As of June 2022, the company’s Jianke platform had approximately 30.9 million registered users and an average of approximately 8.6 million monthly active users. The company’s H2H service platform has more than 200,000 registered doctors from more than 14,800 medical institutions. Financial data shows that the company’s revenue from 2019-2021 and the first six months of 2022 are approximately 303 million yuan, 1.16 billion yuan, 1.759 billion yuan and 993 million yuan respectively. The gross profit in the same period was about 43 million yuan, 210 million yuan, 220 million yuan and 152 million yuan respectively. In addition, the company lost 130 million yuan, 90 million yuan, 304 million yuan and 210 million yuan respectively during the reporting period.
2) November 21,MyFTSE Management LimitedSubmit a form to the Hong Kong Stock Exchange, with CICC and CCB International as joint sponsors.
According to the prospectus, in terms of revenue in 2021, MyFT is the largest provider of marketing and sales SaaS solutions in China, with a market share of 2.4%. From 2019 to 2021, the number of paying users of the company’s SaaS services was 13,548, 19,028, and 24,127 respectively. In 2020 and 2021, the company’s subscription revenue retention rates were 92% and 136%, respectively. Financial data show that from 2019 to 2021 and the first six months of 2022, the company’s revenue will be approximately RMB 266 million, RMB 528 million, RMB 877 million and RMB 592 million respectively; 31.554 million yuan, 273 million yuan and 75.899 million yuan.
3) November 22,Guohong Hydrogen Energy Technology (Jiaxing) Co., Ltd.Submitted to the Main Board of the Hong Kong Stock Exchange, with Huatai International as the sole sponsor.
According to the prospectus, Guohong Hydrogen Energy is a leading technology-based hydrogen fuel cell company in China. According to Frost & Sullivan, in terms of hydrogen fuel cell stack shipments, from 2017 to 2021, Guohong Hydrogen Energy ranked first for five consecutive years. As of 2021, the company’s fuel cell stack shipments and battery system shipments accounted for 24.1% and 21.2% of the domestic market, respectively, ranking first in market share. Financial data show that from 2019 to 2021 and the first six months of 2022, Guohong Hydrogen Energy’s revenue will be 366 million yuan, 227 million yuan, 457 million yuan and 190 million yuan respectively. The profit attributable to shareholders during the same period was 21.251 million yuan, -215 million yuan, -703 million yuan and -151 million yuan respectively.
4) November 22,Luyuan Group Holdings (Cayman) LimitedSubmit the form to the main board of the Hong Kong Stock Exchange, and China Securities International is the sole sponsor.
In terms of sales volume in 2021, Luyuan Group is the sixth-ranked electric two-wheeler manufacturer in China, with a market share of 3.9%. As of June 2022, the company has 1,086 dealers and more than 9,200 terminal stores. Financial data show that from 2019 to 2021 and the first six months of 2022, the revenue of Luyuan Group will be 2.495 billion yuan, 2.378 billion yuan, 3.418 billion yuan and 1.998 billion yuan respectively. However, the gross profit margin has been declining year by year, 13%, 11.2%, 9.9% and 8.6% respectively, and the net profit in the same period reached 69.74 million yuan, 40.28 million yuan, 59.26 million yuan, and 51.8 million yuan respectively.
5) November 23,Yeju Medical Group Holdings LimitedSubmit a listing application to the Main Board of the Hong Kong Stock Exchange, with CICC and CCB International as joint sponsors.
According to the prospectus, Yeju Medical is a major global medical device manufacturer specializing in percutaneous coronary intervention (PCI) and percutaneous transluminal angioplasty (PTA) surgical interventional devices. In terms of PCI balloon sales in 2021, Yeju Medical ranks second in Japan, fourth in Europe, and sixth in the United States and China. In the PTA balloon market, Yeju Medical also has an advantage, and its product sales rank third in Japan and fourth in the United States. Financial data show that in 2019-2021 and the first six months of 2022, the company’s revenue will be US$96.342 million, US$88.472 million, US$116 million and US$68.851 million, respectively. The profits attributable to shareholders were US$6.958 million, US$7.071 million, US$3.321 million and US$8.037 million.
6) November 25th,Zhongxu futureSubmit the form to the Hong Kong Stock Exchange. CICC and China Securities International are its joint sponsors.
According to the prospectus, the company mainly operates the interactive entertainment business with the greedy game brand. At the same time, the company has also incubated the instant food brands “Zhazhahui” and “Bro Kooli” and the fashion brand. As of June 2022, the company has a total of 274 million registered users, an average of 9.4 million monthly active users, and an average monthly income of 397.4 yuan per paying user. Financial data show that in 2019-2021 and the first six months of 2022, the company’s revenue will be 3.008 billion yuan, 2.872 billion yuan, 5.736 billion yuan and 4.536 billion yuan respectively. The net profit attributable to shareholders was 83.147 million yuan, 515 million yuan, 628 million yuan and 345 million yuan respectively.
7) November 25th,Jiachuang Real Estate Holdings LimitedTo submit a form to the Hong Kong Stock Exchange, Dongxing Securities (Hong Kong) is the sole sponsor.
According to the prospectus, Jiachuang Real Estate is a boutique residential property developer, mainly developing and selling residential properties in the fast-growing residential markets of Dongguan, Huizhou and Foshan in the Greater Bay Area (such as Dongguan and Huizhou). Financial data show that for the three fiscal years ending March 2022 and the six months ending September 2022, the company’s revenues were 482 million yuan, 591 million yuan, 776 million yuan, and 473 million yuan, respectively. The net profits for the same period were 129 million yuan, 161 million yuan, 244 million yuan and 143 million yuan respectively.
Looking at the hearing again, 7 companies passed the hearing this week:
1) November 21,Sunshine Insurance Group Co., Ltd.After hearing by the Hong Kong Stock Exchange, the joint sponsors were Huatai International, CICC, UBS and CCB International.
According to the prospectus, Sunshine Insurance is one of 13 domestic insurance groups. Financial data show that in 2019, 2020, and 2021, the company’s total insurance premium income will be 87.907 billion yuan, 92.569 billion yuan, and 101.759 billion yuan respectively; the net profit attributable to the parent will be 5.086 billion yuan, 5.619 billion yuan, and 5.883 billion yuan. As of June 30, 2022, the total assets of Sunshine Insurance have reached 473.637 billion yuan.
2) November 21,Shenzhen Growatt Technology Energy Co., Ltd.Through the Hong Kong Stock Exchange listing hearing, Credit Suisse and CICC are its joint sponsors.
According to the prospectus, Growatt is the world‘s leading provider of distributed energy solutions. The company mainly designs, develops, and manufactures photovoltaic inverters, energy storage systems, and smart energy management systems. According to Frost & Sullivan, Growatt is the third largest provider of photovoltaic inverters in the world in terms of photovoltaic inverter shipments in 2021 by region, with a market share of 6.8%. Financial data show that in 2019-2021 and the first half of 2022, the company’s revenue was 1.001 billion yuan, 1.893 billion yuan, 3.195 billion yuan and 2.345 billion yuan respectively; and 395 million yuan.
3) November 22,Howkingtech International Holding LimitedAfter hearing by the Hong Kong Stock Exchange, Ping An Capital was the sole sponsor.
The prospectus discloses that Hokyung Technology is a data transmission and processing service provider and a communication equipment supplier for Internet of Things applications in China. According to financial data, the revenue of Haojing Technology in 2019-2021 and the first five months of 2022 is about 80.89 million yuan, 127 million yuan, 190 million yuan and 53.1 million yuan respectively. The net profit for the same period was about 17.35 million yuan, 34.38 million yuan, and 10.53 million yuan respectively. It is worth noting that in recent years, the company’s gross profit margin and net profit have continued to decline. During the reporting period, the company’s gross profit margins were 45.0%, 40.3%, 41.6% and 34.9% respectively; the net profit margins were 21.5%, 22.4%, 18.1% and 12.7%.
4) November 23,Weilong Delicious Global Holdings LimitedUpdate the hearing information of the Hong Kong Stock Exchange, Morgan Stanley, CICC and UBS are joint sponsors.
According to the prospectus, in terms of retail sales in 2021, Weilong ranks first among all spicy snack food companies in China, with a market share of 6.2%, and its market share in the subcategories of seasoned noodle products and spicy leisure vegetable products is 1.5%. Number one. Financial data show that in 2019-2021 and the first half of 2022, the company’s revenue was 3.385 billion, 4.12 billion, 4.8 billion and 2.261 billion respectively; the net profit for the same period was 658 million, 819 million, 827 million and -261 million respectively .
5) November 24th,Meihao Medical Group Co., Ltd.After hearing by the Hong Kong Stock Exchange, Innovax Capital and Sinolink Securities (Hong Kong) were its joint sponsors.
According to the Frost & Sullivan Report, in terms of revenue in 2021, Meihao Medical is the largest private dental service provider in Wenzhou, owning and operating 5 dental hospitals in Wenzhou. The market shares in Wenzhou’s private and overall dental service markets are approximately 25.2% (exceeding the combined market share of the second to fifth largest private dental service providers in Wenzhou in 2021) and 13.2%, respectively. Financial data show that from 2019 to 2021 and the first five months of 2022, Meihao Medical achieved revenues of 83.2 million yuan, 84.6 million yuan, 105 million yuan and 46.9 million yuan respectively. The net profits for the same period were 15.46 million yuan, 14.98 million yuan, 32.18 million yuan and 8.52 million yuan respectively.
6) November 24th,Green House GroupAfter hearing by the Hong Kong Stock Exchange, CCB International and Haitong International are its joint sponsors.
According to the iResearch report, in terms of revenue from mobile and PC-side applications, websites, and WeChat mini-programs in 2021, Huafang Group ranks third among all online entertainment live streaming platforms in China, accounting for about 90% of the total revenue of Chinese entertainment live streaming platforms. 13.1%. The company owns platform products such as Huajiao Live and Liujianfang. Financial data show that from 2019 to 2021 and the first five months of 2022, Huafang Group’s revenues were 2.831 billion yuan, 3.683 billion yuan, 4.600 billion yuan and 2.087 billion yuan respectively; net profits were 190 million yuan and -1.525 billion yuan respectively , 325 million yuan and 178 million yuan; among them, the income from live broadcast of peppercorns exceeded 75%.
7) November 25thBuyang International Holdings LimitedThrough the hearing of the Hong Kong Stock Exchange, Zhongtai International is its sole sponsor.
The prospectus disclosed that Buyang International is a manufacturer of aluminum alloy steam turbines, focusing on the aftermarket. In terms of the export value of aluminum alloy steam turbines, the company will account for approximately 1.0% of the Chinese aluminum alloy steam turbine market in 2021. Financial data show that in 2019-2021 and the first five months of 2022, the company’s revenue was 374 million yuan, 362 million yuan, 440 million yuan and 150 million yuan respectively; Yuan and 16.382 million yuan.
There are 2 companies offering IPOs this week:
1) 360 Data Science-S (03660.HK):The IPO will be held from November 18, 2022 to November 23, 2022. It is planned to issue 5.54 million shares globally, of which the global offering will account for 90% and the Hong Kong offering will account for 10%. According to the latest announcement, the company’s final offering price has been confirmed at HK$50.03 per offer share, and it is expected to be listed on the Hong Kong Stock Exchange on November 29, 2022.
2) Ligen Resources (02245.HK):The IPO will be held from November 21 to November 24, 2022. It plans to issue 232.5 million shares, 10% of which will be offered in Hong Kong, 90% will be offered in international placements, and 15% will be over-allotted. Each offer share is HK$15.60-19.96, with 200 shares per lot. It is expected that the shares will be listed on December 1, 2022.
Another new listing this week:
On November 24, Lingxiong Technology (02436.HK), the parent company of IT equipment management service provider Bear U Group, was listed on the Hong Kong Stock Exchange, and rose 2.63% on Sunday. The company has a rich lineup of investors before listing, including Jingdong (09618.HK), Tencent (00700.HK), Lenovo (00992.HK), Dachen, National Small and Medium-sized Enterprise Development Fund, Shenzhen Guidance Fund and Shenzhen State-owned Assets Supervision and Administration Commission’s high-tech Investment, etc., and have publicly disclosed their commitment to the listing lock-up period, expressing their long-term optimism and determination for Cubs U Rent.