Futu Information June 9 news, this Thursday, $ Youhe Group (02347.HK) $ announced that the company issued 55 million shares, priced at HK $ 2.1 per share, 2,000 shares per lot, expected to be listed on June 10.
During the public offering, Youhe Group was subscribed by approximately 8.37 times, and the final number of offer shares allocated to the public offering was 5.5 million shares, accounting for approximately 10% of the total number of offer shares (before any over-allotment option was exercised). A total of 4,622 valid applications were received, the first-hand lottery rate was 20%, and the 20-handed subscription was stable.
In addition, the International Offering has been over-subscribed with a final number of 49.5 million Offer Shares, representing approximately 90% of the total number of Offer Shares (before any over-allotment options are exercised). The relevant data compiled by Futu Information are as follows:
The company intends to use the net proceeds of approximately HK$74.7 million from the global offering for the following purposes: approximately 20.4% will be used to seize a higher market share through natural growth; approximately 7.1% will be used to expand the Group’s electronics through the launch of online platform business. The types of product supply of the business platform; about 8.6% will be used to expand the group’s services to customers in China (especially the Greater Bay Area); about 9.2% will be used to strengthen the group’s supply chain capabilities; about 11.8% will be used to further invest in brands Management and marketing, raising public awareness of the Group and enhancing the effectiveness of the Group’s marketing activities; approximately 19.2% will be used to expand the Group’s workforce to support the Group’s business strategies; approximately 13.7% will be used to acquire companies in e-commerce-related industries; And approximately 10.0% will be used as general working capital of the Group.
According to the Frost & Sullivan Report, Youhe Group is one of the leading market players in the B2C e-commerce industry in Hong Kong, with over 23,000 SKUs (mainly electronic products and home appliances) and has established registered members of over 23,000 as at the Latest Practicable Date. 807,000 customer base.
In FY20/21, the Company ranked first among e-commerce platforms in Hong Kong focusing on electronic products and home appliances in terms of website traffic, and recorded the highest online retail sales of electronic products and home appliances among all e-commerce platforms in Hong Kong , with a market share of about 5.6%. The Company also ranked second and third respectively among all e-commerce platforms in Hong Kong in terms of website traffic and overall retail online sales in FY20/21 (market share of approximately 1.8%).
In terms of finance, from fiscal year 18/19 to fiscal year 20/21, Youhe Group’s revenue was HK$135 million, HK$260 million and HK$523 million, with a compound growth rate of 96.83%, and net profit was 12 million, 18 million and 29 million respectively. Hong Kong dollar, with a compound growth rate of 55.46%. For the first eight months of FY21/22, revenue was HK$497 million with a net loss of HK$14 million.
In terms of industry, as of FY20/21, the total retail sales of electronic products and home appliances reached HK$32.4 billion, which is expected to reach HK$49.6 billion in FY25/26, with a compounded growth rate from FY21/22 to FY25/26. The annual growth rate is 9.4%, while the sales of online electronics and home appliances are expected to grow at a CAGR of 15.8% from FY21/22 to FY25/26.
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