Last week (October 10-October 16, 2022), there were 2 companies in Hong Kong and none.
During the period, no company passed the hearing and IPO of the Hong Kong Stock Exchange.
In terms of submissions, last week, 10 companies submitted forms to the Hong Kong Stock Exchange for IPO listing, and 1 company submitted forms to the US Securities Regulatory Commission. Here is the full list:
1. List: GC Consturction landed in Hong Kong stocks
Last week, a total of 2 companies were listed, GC Construction and Jianshi Technology-B were listed on the Hong Kong stock market on October 10. On the first day of listing, GC
Construction opened 24% higher and Healthworld-B opened slightly higher.
GC Consturction Lists in Hong Kong, Opens 24% Higher
On October 10, 2022, Hong Kong construction contractor GC Consturction (01489.HK) was listed on the Hong Kong stock market at HK$0.62, up 24% from HK$0.5. GC Consturction recently reported HK$0.56, up 12%, with a total market value of HK$560 million.
The company plans to offer 250 million shares globally, of which the public offering accounts for 10% and the placement accounts for 90%.
The company was established in 2005 and since then has been undertaking cement works as a subcontractor. The Company’s business is carried out by the Company’s two operating subsidiaries, Chen Qiao and Ying Wei. During the Track Record Period, the plastering works carried out by the Company mainly included plastering, tile laying, brick laying, platform laying and marble works. According to an industry report, in terms of revenue, the Group will be ranked first in Hong Kong’s cement and water engineering subcontracting market in 2021, accounting for approximately 4.0% of the market share in 2021.
During the Track Record Period, most of the Company’s revenue was derived from mud-water works for residential development projects. In fiscal years 2018/19, 2019/20, 2020/21 and 2021/22, the company’s revenue was HK$448 million, HK$513 million, HK$440 million and HK$456 million; attributable to company owners Profit for the year and total comprehensive income were HK$15.69 million, HK$25.81 million, HK$46.039 million and HK$31.294 million respectively.
2. List of submissions for listing in Hong Kong stocks: Domino’s Pizza franchisee Dase once again submitted to the Hong Kong Stock Exchange
Last week, 10 companies submitted prospectuses to the Hong Kong Stock Exchange, all planning to list on the main board. According to the GICS industry classification level 1, there are 2 companies each from the healthcare and raw materials industries, and 1 company from the financial, industrial, communication services, information technology, consumer discretionary and consumer staples industries.
China’s leading sunscreen apparel brand Jiaoxia Holdings intends to list on the Hong Kong Stock Exchange
On October 10, 2022, Jiaoxia Holdings Co., Ltd. submitted a second filing to the main board of the Hong Kong Stock Exchange for listing, and was a joint venture.
Jiaoxia Holdings is an urban outdoor footwear and apparel company in China. It designs, develops and sells a diversified product portfolio of the Jiaoxia brand, starting from flagship sunscreen products and expanding to a variety of non-sunscreen products. According to CIC, in terms of total retail sales and online retail sales in 2021, the company is the largest sunscreen apparel brand in China, with market shares of 5.0% and 12.9% respectively, of which sales through online channels have obvious advantages.
In 2019, 2020 and 2021, the company recorded revenue of 385 million yuan (RMB, the same below), 794 million yuan, and 2.407 billion yuan respectively; the company’s equity holders accounted for losses of 23.207 million yuan, 77,000 yuan and 5.473 billion yuan. For the six months ended June 30, 2022, the company recorded a revenue of 2.211 billion yuan, and the company’s equity holders accounted for a profit of 491 million yuan for the year.
Most of the company’s revenue comes from a limited number of bestsellers. In 2019, 2020, 2021 and the six months ended June 30, 2022, the revenue generated by the top 30 best-selling items accounted for 99.8%, 88.6%, 74.8% and 71.6% of the company’s total revenue, respectively.
Domino’s Pizza Franchise Dase Submits Second Submission to the Main Board of the Hong Kong Stock Exchange
On October 14, 2022, DPC Dash Ltd (“Domino’s China”) submitted a prospectus to the Hong Kong Stock Exchange and planned to be listed on the main board of Hong Kong, with Bank of America Securities as the sole sponsor.
Domino’s China is the exclusive master franchisor of Domino’s Pizza in Mainland China, Hong Kong Special Administrative Region of China and Macau Special Administrative Region of China. As of the Latest Practicable Date, the Company directly operated 547 stores in 12 cities in mainland China.
Domino’s Pizza, Inc., the company’s global franchisor, is the world‘s largest pizza company in terms of global retail sales in 2021, with more than 19,200 stores in more than 90 markets around the world as of June 19, 2022.
For the years ended December 31, 2019, 2020 and 2021 and the six months ended June 30, 2021 and 2022, the company recorded revenue of RMB 837 million, RMB 1.1 billion and RMB 1.6 billion, respectively , RMB 767 million and RMB 909 million, 32.0% from 2019 to 2020, a year-on-year increase of 45.9% from 2020 to 2021, and a year-on-year increase of 18.6% from June 30, 2021 to June 30, 2022.
In 2019, 2020 and 2021 and the six months ended June 30, 2021 and 2022, the company’s net losses were RMB 182 million, RMB 274 million, RMB 471 million and RMB 205 million, respectively and RMB 95.5 million.
3. List of U.S. stock listing submissions: Mao’s Jade submitted a prospectus and sprinted for listing
On October 12, 2022, Mao Shi Jade Jewelry International Investment Ltd. (Mao Shi Jade) submitted a prospectus to the US Securities Regulatory Commission, and plans to list on the Nasdaq as “MSFC”.
Mao’s Jadeite specializes in the development, production and sales of high-end jadeite. With the digitization, technology, innovation and upgrading of the jadeite jewelry industry chain as the core, it strives to build a digital industry platform for jadeite masters based on jewelry consumption and art transactions.
Mao’s Jade said in its prospectus that the company is an emerging growth company with revenue of less than US$1.07 billion in the last fiscal year.
4. Prospects for new shares this week
This week (September 17-September 23, 2022) it is expected that 2 new stocks will be listed on Hong Kong stocks, and no Chinese concept stocks will be listed on US stocks. Return to Sohu, see more
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