Core Viewpoint - Handback Group Limited is planning to launch an IPO from May 22 to May 27, 2025, with a global offering of approximately 24.36 million shares at a price range of HKD 6.48 to HKD 8.08 per share, aiming to raise between HKD 158 million and HKD 197 million [1][3]. Group 1: IPO Details - The expected total fundraising amount is approximately HKD 158 million to HKD 197 million, with a net amount of about HKD 116 million after deducting issuance costs, based on a median issue price of HKD 7.28 [3]. - If the overallotment option is fully exercised, the estimated net fundraising amount could reach approximately HKD 142 million [3]. - About 60% of the raised funds will be allocated to enhancing and optimizing the sales and marketing network and improving services over the next 60 months [3]. Group 2: Company Background - Handback Group, officially known as Shenzhen Handback Technology Group Co., Ltd., was established in January 2015 and has a registered capital of RMB 4.887 million [3]. - The major shareholders include Guangyao, Tianjin Handback Investment Co., Ltd., and others, with Guangyao holding 29.68% through Little Blue Light Ltd [4]. Group 3: Financial Performance - The company's revenue for 2022, 2023, and 2024 is estimated to be approximately RMB 806 million, RMB 1.634 billion, and RMB 1.387 billion, respectively, with net profits of RMB 131 million, -RMB 356 million, and -RMB 136 million [6][8]. - The adjusted net profit for the same years is approximately RMB 75 million, RMB 253 million, and RMB 242 million [8]. - The company experienced a significant revenue decline of approximately 47.9% in 2022 compared to 2021, primarily due to a decrease in income from insurance transaction services [9]. Group 4: Revenue Breakdown - Revenue from insurance transaction services decreased from approximately RMB 15.45 billion in 2021 to RMB 8.02 billion in 2022, a drop of 48.1% [9]. - For 2024, the revenue from insurance transaction services is projected to decline by 15.13%, primarily due to a reduction in long-term life insurance income [9]. - The income from the Niubao 100 platform is expected to decrease from RMB 11.01 billion in 2023 to RMB 8.65 billion in 2024 [9].
手回集团将上市：2024年收入下滑明显，旗下平台小雨伞多次被罚