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海納智能裝備國際
Haina Intelligent Equipment International
Nominal: 0.860 RT Quote
Open-offer-subscription Rate: 168.3x One Lot Success Rate: 8%
COMPANY PROFILE

Haina Intelligent Equipment International Holdings Limited established in 2011, it is a manufacturer engaging in the design and production of automated machines for manufacturing disposable hygiene products, including baby diapers, adult diapers and lady sanitary napkins in the PRC. It designed, developed and produced machines for manufacturing disposable hygiene products under its proprietary brand “Haina Machinery”.

In terms of revenue generated from sales of disposable hygiene product machinery, the Group ranked third with approximate market share of 4% in terms of revenue in 2019.

The Group’s revenue for the three years ended 31 December 2018 mainly derived from customers located in the PRC, which contributed approximately 94.7%, 77.2% and 71.3% of revenue, respectively. With the Group’s continuous proactive efforts in expanding customer base by visiting potential customers for overseas markets, PRC customer’s revenue was 57.5% for the year ended 31 December 2019, and revenue derived from overseas customers increased throughout the Track Record Period, representing 5.3%, 22.8%, 28.7% and 42.5% of total revenue, respectively.

The Group operated 16 and six production lines at its Jinjiang Production Base and Hangzhou Production Base (with a total gross floor area of approximately 35,400 sq.m., respectively, to support production.

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureIndustrials
Websitewww.fjhaina.com
Board Lot4,000
Registrar & Transfer OfficeComputershare Hong Kong Investor Services
GLOBAL OFFERING
No. of Offer Shares116m shares
No. of Public Offer Shares11.60m shares
No. of Placing Shares104m shares
Offer Price$1.08 - $1.50
Nominal ValueHK$ 0.01 each
Stock Code1645
Sole SponsorVBG Capital
Joint Global Coordinators and Joint BookrunnersSoochow Securities International Brokerage, VBG Capital, Wealth Link Securities
Joint Lead ManagersBOA MS Capital, DL Securities (HK), Soochow Securities International Brokerage, TradeMaster Securities (Hong Kong), VBG Capital, Wealth Link Securities, Zinvest Global
Co-lead ManagersCM Securities (Hongkong), Red Eagle Securities
TIME TABLE
Application PeriodMay 20 (Wed) - Noon, May 25 (Mon)
Price Determination DateOn or Before 5pm, May 25 (Mon)
Result Announcement DateOn or Before Jun 2 (Tue)
Dispatch of Shares and Refund ChequesOn or Before Jun 2 (Tue)
Dealings in Shares commence onJun 3, 2020. (Wed)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription15X - 50X50X - 100XOver 100X
% of total shares reallocated to HK Offer30%40%50%
DIRECTORS
ExecutiveHong Yiyuan(Chairman), Zhang Zhixiong, Su Chengya, He Ziping
Non-ExecutiveChang Chi Hsung
Independent Non-ExecutiveChan Ming Kit, Wang Fengxiang, Ng Tat Fung
MAJOR SHAREHOLDERS
Prestige Name*75.00%
INCOME STATEMENT (RMB'000)
(Year ended Dec 31)
201920182017
Revenue377,989337,240260,985
Gross Profit90,61976,58756,587
Pre-Taxed Profit36,17345,13235,678
Attributable Profit for the period26,42338,63630,031
OFFER STATISTICS (HK$)
Offer Price$1.08 - $1.50
Capitalization$501m - $696m
Unaudited pro forma adj NAV / share$0.42 - $0.50
USE OF PROCEEDS
Assuming the offer price being at the mid-point of $1.29, the net proceeds raised would be HK$112.8m, of which:
* $26.2m (23.2%) use for set up a new research and development centre in Jinjiang ;
* $25.0m (22.2%) use for strengthen its research and development capabilities ;
* $18.3m (16.2%) use for increasing its production capacity ;
* $39.6m (35.1%) use for increasing the competitiveness of its products through acquisitions ;
* the balance of $3.7m (3.3%) as additional working capital.
CHART
IPO NEWS
No related information.
RELATED STOCK COMPARISON
Code Name Nominal Change %Change
01645HAINA INTELup0.8600.0202.381%
Remark: The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
  Quote data is at least 15-min delayed,last updated: 03/07/2020 17:58
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