Core Viewpoint - Le Xin Outdoor (02720.HK) has successfully listed on the Hong Kong Stock Exchange, becoming the first publicly traded company in the fishing equipment sector, raising a net amount of HKD 285 million through its IPO [2][4]. Group 1: IPO Details - The company issued 28.205 million shares at an offering price of HKD 12.25, with total proceeds amounting to HKD 346 million [2]. - The IPO was significantly oversubscribed, with a public offering receiving 3,654.23 times more applications than available shares, and the international offering being 2.94 times oversubscribed [4]. - On its first trading day, the stock price surged to HKD 24.80, representing an increase of over 102%, with a total market capitalization of HKD 3.179 billion [4][5]. Group 2: Company Overview - Le Xin Outdoor is recognized as the largest fishing equipment manufacturer globally, holding a market share of 23.1% based on projected 2024 revenues [10]. - The company has established a diverse product portfolio suitable for various fishing scenarios, including carp fishing, competitive fishing, lure fishing, fly fishing, and ice fishing [8]. - The company is primarily controlled by Chairman Yang Baoqing, who holds 94.77% of the shares, with his daughter Lei Yang involved in the business as the general manager [8]. Group 3: Financial Performance - The company's revenue for 2022, 2023, and projected 2024 are HKD 818 million, HKD 463 million, and HKD 573 million, respectively, with operating profits of HKD 153 million, HKD 65 million, and HKD 80 million [9]. - The significant drop in revenue in 2023 is attributed to a decrease in demand for fishing equipment as consumers returned to other leisure activities post-pandemic [9]. - Le Xin Outdoor's revenue heavily relies on the OEM/ODM model, contributing 94.1% to 93.1% of total revenue from 2022 to 2025 [9].
钓鱼佬撑腰！乐欣户外港股首日涨超104%，企二代加拿大国籍