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蜆壳電業
SMC Electric
COMPANY PROFILE

SMC Electric engages in the manufacturing and selling of electric tools and sourcing and selling of electric fans. It is headquartered in Hong Kong with its manufacturing operations in the PRC.

It manufactures and sells a wide range of electric tools including cordless fans, work lights, vacuum cleaners and other electric tools mainly to the respective brand owners. It also sources and sells different types of electric fans including ceiling fans, wall-mounted fans, stand up fans and orbital fans under the Group's "SMC" brand, and are sold to distributors and retailers mainly based in Asia, Africa and Oceania. The Group mainly manufactures the products for the U.S. Customer.

The Group's manufacturing facilities are located in Shunde, Foshan, Guangdong Province, the PRC. As at 30 September 2019, the Group operated 1 production line for cordless fans, 2 production lines for work lights, 1 production line for vacuum cleaners and 1 production line for other electric tools. These production facilities occupied a combined area of approximately 3,666 sq. m. with an annual designed production capacity of approximately 163,000 pieces of cordless fans, 1,053,000 pieces of work lights, 249,000 pieces of vacuum cleaners and 249,000 pieces of other electric tools.

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureHousehold Appliances & Electronics
Websitewww.smcelectric.com.hk
Board Lot10,000
Registrar & Transfer OfficeBoardroom Share Registrars (HK)
SHARE OFFER
No. of Offer Shares500m shares (275m new / 225m existing shares)
No. of Placing Shares450m shares (225m new / 225m existing shares)
No. of Public Offer Shares50.00m shares
Offer Price$0.25
Nominal ValueHK$ 0.01 each
Stock Code2381
Sole SponsorRed Sun Capital
Sole Global CoordinatorElstone Securities
Joint Bookrunners and Joint Lead ManagersElstone Securities, CMBC Securities, Essence International Securities (Hong Kong), First Fidelity Capital (International), Kingkey Securities, SPDB International Capital, Zhongtai International Securities, Conrad Investment Services, Realord Asia Pacific Securities, KGI Asia, Innovest Securities Investment
TIME TABLE
Application PeriodMay 19 (Tue) - Noon, May 22 (Fri)
Result Announcement DateOn or Before Jun 1 (Mon)
Dispatch of Shares and Refund ChequesOn or Before Jun 1 (Mon)
Dealings in Shares commence onJun 2, 2020. (Tue)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription15X - 50X50X - 100XOver 100X
% of total shares reallocated to HK Offer30%40%50%
DIRECTORS
ExecutiveLeung Chun Wah, Tang Che Yin
Non-ExecutiveYung Kwok Kee Billy (Chairman)
Independent Non-ExecutiveLeung Man Chiu Lawrence, Poon Chak Sang Plato, Lam Sai Yu Geoffrey
MAJOR SHAREHOLDERS
Director Yung Kwok Kee Billy75%
INCOME STATEMENT (HK$'000)
(Year ended Dec 31)
201920182017
Revenue277,974266,056250,982
Gross Profit87,45980,73971,055
Pre-Taxed Profit57,00744,77838,876
Attributable Profit for the period45,36734,62831,206
OFFER STATISTICS (HK$)
Offer Price$0.25
Capitalization$500m
Unaudited pro forma adj NAV / share$0.1184
USE OF PROCEEDS
Based on the offer price of $0.25, the net proceeds raised would be HK$42.5m, of which:
* $6.3m (14.8%) for the improvement of the Group's efficiencies in its daily operations;
* $25.9m (60.9%) for strategically expanding the Group's manufacturing capabilities;
* $10.3m (24.3%) for devoting resources on new products.
RELATED STOCK COMPARISON
Code Name Nominal Change %Change
00179JOHNSON ELEC Hup14.9600.3402.326%
00669TECHTRONIC INDup81.2001.7002.138%
02381SMC ELECTRICdown0.123-0.001-0.806%
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: 13/07/2020 17:58
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