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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
Our business model

We are a subcontractor specialising in passive fire protection works in Hong Kong. Our passive fire protection works generally involve the design, selection, procurement and installation of appropriate materials and components in a building to reduce or prevent the spread and effects of fire, heat or smoke without requiring detection or activation upon detection. Examples of passive fire protection materials and components include fire rated boards, fire resistant paints and fire resistant plasters. Our Group provides passive fire protection works through our principal operating subsidiaries, namely, Easy Smart Engineering and Easy Smart Maintenance. Our Group was ranked first for the year ended 30 June 2022 in terms of revenue with a market share of approximately 25.5% of the passive fire protection works market in Hong Kong. Our Group had a market share of approximately 6.7% of the building protection works market in Hong Kong for the year ended 30 June 2022 in terms of revenue. The passive fire protection works market is a subset of the building protection works market which in turn is a subset of the construction industry. In terms of gross value for the year ended 30 June 2022, the passive fire protection works market in Hong Kong accounted for approximately 26.1% of the building protection works market in Hong Kong and the building protection works market in Hong Kong accounted for approximately 1.5% of the overall construction works market in Hong Kong.

During the Track Record Period, our revenue was derived from passive fire protection works and passive fire protection information services. Most of our revenue was derived from the provision of passive fire protection works as a subcontractor in projects.

Our projects

We undertake both public sector and private sector projects in Hong Kong as a subcontractor and we provide our services in projects for various types of properties including public infrastructure and facilities, commercial buildings, industrial buildings and residential buildings. Our direct customers are principally main contractors and subcontractors of projects which engage us as their passive fire protection services provider. In respect of our public sector projects, our projects were generally initiated by HK Government departments, statutory bodies or semi-government entities. In respect of our private sector projects, the ultimate project owners were property developers or other private owners. During the Track Record Period, most of our revenue was derived from projects obtained through tender.

Our projects may comprise one or more contract(s) with one or more customer(s). Different structures of a construction project may be awarded under different contracts by the main contractor and we may be engaged by different contractors to perform passive fire protection works for different structures of a construction project.

We normally group different contracts as a single project if the location of the construction sites are the same, or they form a single building or complex, even if the contracts are awarded by different customers. However, in exceptional cases when the scale and size of the structure is exceptionally large, the works are for different parts of the structure and the construction period spans across a long period, we will treat contracts in a single building or complex as being separate projects.



Source: Easy Smart Group (02442) Prospectus (IPO Date : 2023/04/25)
Listing Market MAIN
Industry Security & Alarm Services
Background Others
Major Business Area N/A
Corporate Information
Substantial Shareholders Ng Wing Woon Dave (75.00%)
Directors Ng Wing Woon Dave (Chairman and Chief Executive Officer and Executive Director)
Ng Wing Shing (Executive Director)
Cheng Shing Yan (Independent Non-Executive Director)
Lo Chi Wang (Independent Non-Executive Director)
Pong Kam Keung (Independent Non-Executive Director)
Company Secretary Leung Hoi Ki
Principal Bankers Bank of Communication Company Limited, Hong Kong Branch
Bank of China (Hong Kong) Limited
Solicitors
Auditors Shinewing (HK) CPA Limited
Registered Office Unit A, 10th Floor, Ming Tak Centre 135-137, Tung Chau Street, 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.easysmart.com.hk
Email Address [email protected]
Tel No (852) 2942-8918
Fax No (852) 2942-8968
 
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