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To-be Listed
Name
/
Code
Industry Offer Price Lot Size Entry Fee Closing Date
Grey Market Date
Listing Date
REFIRE
02570.HK
Electrical Components & Equipment 145-165 20 3,333 2024/12/03 2024/12/05 2024/12/06
Dmall
02586.HK
Application Software 30.21 100 N/A 2024/12/03 2024/12/05 2024/12/06
Summary
We are a wet trades contractor in Hong Kong. We were established in 2005 and have since undertaken wet trades works in the role of subcontractor. Our business is carried out by our two principal operating subsidiaries, Chan Kiu and Ying Wai. During the Track Record Period, the wet trades works performed by us mainly included plastering, tile laying, brick laying, floor screeding and marble works. According to the Industry Report, our Group ranked the first in the Hong Kong wet trades works subcontracting market in terms of revenue in 2021, and accounted for approximately 4.0% of the market share in 2021.

Projects undertaken during the Track Record Period

We were mainly engaged in private sector projects in Hong Kong. Our private sector projects mainly involved private residential developments and commercial developments. The project owners of our private sector projects were generally property developers, and our customers were main contractors engaged under such projects. To a lesser extent, we were also engaged in public sector projects in Hong Kong. Our public sector projects mainly involved public residential developments as well as infrastructure and public facilities developments. The customers of our public sector projects were generally main contractors engaged by Government departments and statutory bodies.

Our Group’s revenue for private commercial projects increased from approximately HK$0.9 million for FY2019/20 to approximately HK$102.3 million for FY2020/21. The increase in revenue was mainly attributable to the substantial amount of wet trades works we had performed for Project #07, which contributed approximately HK$72.8 million in revenue for FY2020/21 (FY2019/20: approximately HK$49,000). For further details, please refer to the paragraph headed “Business – Projects undertaken during the Track Record Period – Top projects undertaken during the Track Record Period” in this document.

Our Group’s revenue decreased from approximately HK$513.2 million for FY2019/20 to approximately HK$440.4 million for FY2020/21. The decrease in revenue was mainly driven by (i) the decrease in the overall market opportunities in the wet trades works industry in Hong Kong which was mainly attributable to the temporary impact of the outbreak of COVID-19 in 2020; (ii) Project #03 and Project #06 contributed a relatively lower revenue for FY2020/21, as compared to FY2019/20; and (iii) some projects had been substantially completed in FY2019/20 while new projects with large contract sum were awarded or commenced works after the third quarter of 2020 onwards. For further details, please refer to the paragraph headed “Financial information – Period-to-period comparison of results of operations – FY2020/21 compared with FY2019/20” in this document.

Our Group’s revenue increased to approximately HK$456.4 million for FY2021/22. The increase in revenue was mainly driven by the increase in the amount of works performed by our Group in some of our ongoing sizeable projects, including Project #16, a private residential project in Wong Chuk Hang, which contributed approximately HK$61.4 million to our revenue during FY2021/22 (FY2020/21: approximately HK$6.9 million).

We have focused on the role of project management and supervision in carrying out our projects, and we have engaged subcontractors to perform substantial part of the site works under our supervision. Typically, our major responsibilities in a project include (i) arranging site preparatory and preliminary works; (ii) engaging and supervising our subcontractors; (iii) monitoring the implementation of site works; (iv) conducting site safety supervision and quality control; and (v) developing detailed work schedule and work allocation plan.



Source: GC Construction (01489) Prospectus (IPO Date : 2022/09/23)
Listing Market MAIN
Industry Building Construction
Background Others
Major Business Area N/A
Corporate Information
Substantial Shareholders Chan Kiu Sum & Family (72.89%)
Directors Chan Kiu Sum (Chairman and Chief Executive Officer and Executive Director)
Chan Wing Ping (Executive Director)
Chan Chui Ying (Executive Director)
Huang Hong (Independent Non-Executive Director)
Lo Ki Chiu (Independent Non-Executive Director)
Yu Chi Wing (Independent Non-Executive Director)
Luk Che Chung (Independent Non-Executive Director)
Company Secretary Yu Tsz Ngo
Principal Bankers Bank of China (Hong Kong) Limited
Solicitors ONC Lawyers
Auditors PricewaterhouseCoopers
Registered Office Unit 909, 9th Floor, Tower 1, Cheung Sha Wan Plaza 833 Cheung Sha Wan Road, Kowloon, Hong Kong
Share Registrars Boardroom Share Registrars (HK) Ltd. [Tel: (852) 2153-1688]
Share Registrars Tel No (852) 2153-1688
Internet Address http://www.chankiu.hk
Email Address
Tel No (852) 2618-8784
Fax No (852) 2457-0995
 
SITEMAP
Email: [email protected]
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