Name▼
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Code▼ | Industry | Offer Price | Lot Size | Entry Fee | Closing Date | Grey Market Date▼ | Listing Date▲ | |
Haitian Flav 03288.HK | Food Additives | 35-36.3 | 100 | 3,667 | 2025/06/16 | 2025/06/18 | 2025/06/19 | |
Sanhua 02050.HK | Electrical Components & Equipment | 21.21-22.53 | 100 | 2,276 | 2025/06/18 | 2025/06/20 | 2025/06/23 | |
Bayzed Health 02609.HK | Health Care Services | 4.22-6.75 | 600 | 4,091 | 2025/06/18 | 2025/06/20 | 2025/06/23 | |
TransThera-B 02617.HK | Biotechnology - Pharmaceuticals | 13.15 | 500 | N/A | 2025/06/18 | 2025/06/20 | 2025/06/23 |
We are a petroleum refinery and petrochemical equipment manufacturer based in Henan Province, the PRC. Our products are customised to meet customers’ specifications and requirements, on a contract basis in which they are divided into four product categories, namely (i) sulphur recovery unit (‘‘SRU’’) and volatile organic compounds (‘‘VOCs’’) incineration equipment; (ii) catalytic cracking equipment; (iii) process burners; and (iv) heat exchangers, including their related parts and components, to our downstream customers in the PRC. We also provide installation services for the equipment manufactured by us and/or ancillary facilities such as electrical erection work and mechanical erection work to our customers during the Track Record Period. The petroleum refinery and petrochemical equipment industry is fragmented with over a hundred types of petroleum refinery and petrochemical equipment and each of the product categories represented a relatively small subset of the overall petroleum refinery and petrochemical equipment industry. Our Group has accounted for approximately 0.08% market share in the overall petroleum refinery and petrochemical equipment industry in the PRC in terms of total revenue in 2023. We were the third largest catalytic cracking equipment manufacturer for petroleum refinery and petrochemical operations in the PRC with a market share of approximately 7.6% in terms of revenue in 2023; we were also the second largest SRU and VOCs incineration equipment manufacturers in petroleum refinery and petrochemical operation in the PRC with a market share of approximately 3.4% in terms of revenue in 2023. Our customers mainly comprised market participants in the petroleum refinery and petrochemical industries in the PRC, which can be further classified into owners of production facilities; third-party contractors; equipment manufacturers and others. Established in 1994, we have forged and maintained stable business relationships with many industry-renowned customers in the PRC, which included subsidiaries and branches of three of the largest petroleum refinery and petrochemical groups in the PRC; and one of the largest EPC (engineering, procurement and construction) contractors in this industry in the PRC. The business relationship between our Group and our five largest customers during the Track Record Period has ranged from two to 29 years. We owned two production facilities in Luoyang city, Henan province, the PRC, with a total gross floor area of approximately 20,807.4 sq.m., one of which is responsible for the production of SRU and VOCs incineration equipment and catalytic cracking equipment, and the other one is responsible for the production of process burners and heat exchangers. As at the Latest Practicable Date, our production facilities are equipped with our major production machinery and equipment, including but not limited to lathe, welding machine, rolling machine, lifting machine, cutting machine, flaw detector and press machine. For the year ended 31 December 2023, the utilisation rates of our two self-owned production facilities were approximately 100.9% and 70.1%, respectively. For further details of our production facilities and utilisation rates, please refer to sections headed ‘‘Business — Production Facilities’’ and ‘‘Business — Properties’’ in this document. In order to capture the growing market demand for refinery and petrochemical equipment from overseas customers, we leased a production facility with gross floor area of 7,400 sq.m. in Taizhou city, Jiangsu Province, the PRC on 1 June 2023, which our Directors consider could enable us to enjoy convenient transportation advantage for a production facility near the coastal ports. During the Track Record Period and up to the Latest Practicable Date, our principal market has been the PRC. Internationally, we have also established overseas presences in Hong Kong, Canada and Brazil with a view to expanding our market presence. During the Track Record Period, our revenue was substantially generated from contracts with customers located in the PRC, while our overseas sales offices did not have substantial operational activities. For the years ended 31 December 2021, 2022 and 2023, our revenue was approximately RMB248.0 million, RMB419.1 million and RMB544.1 million, respectively. Our net profit for the same period was approximately RMB13.2 million, RMB36.5 million and RMB55.2 million, respectively. Source: Ruichang Int''l (01334) Prospectus (IPO Date : 28/06/2024) | |
Listing Market | MAIN |
Industry | Oil & Gas Refining and Marketing |
Background | Others |
Major Business Area | N/A |
Substantial Shareholders | LU Bo (33.95%) LU Xiaojing (33.95%) Huangshan City Investment Private Equity Fund Management Co., Ltd. (5.71%) |
Directors | LU Bo (Chairman and Chief Executive Officer and Executive Director) BAI Wei (Senior Vice President and Executive Director) SHAO Song (Senior Vice President and Executive Director) WU Rui (Vice President and Executive Director) LU Xiaojing (Deputy Chief Executive Officer and Executive Director) BAU Siu Fung (Independent Non-Executive Director) SHEN Cheng (Independent Non-Executive Director) JIANG Li (Independent Non-Executive Director) |
Company Secretary | FU Cong LEE Chung Shing |
Principal Bankers | Bank Of China Bank Bank of Communications Co., Ltd. China Construction Bank Corporation China CITIC Bank Corporation Limited |
Solicitors | O Melveny & Myers LLP Jia Yuan Law Firm DLA Piper Maples and Calder (Hong Kong) LLP |
Auditors | Zhonghui ANDA CPA Limited |
Registered Office | 46th Floor, Hopewell Centre 183 Queen’s Road East Wan Chai, Hong Kong |
Share Registrars | Computershare Hong Kong Investor Services Ltd. [Tel: (852) 2862-8628] |
Share Registrars Tel No | (852) 2862-8628 |
Internet Address | http://www.ruichang.com.cn |
Email Address | [email protected] |
Tel No | (86 379) 6511-2356 |
Fax No | (86 379) 6069-6908 |
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