Core Viewpoint - King Leaf International Group (08549) is set to launch an IPO from September 30 to October 6, 2025, offering 100 million shares at a price range of HKD 0.45 to 0.65 per share, with 10% for public offering and 90% for placement [1][2] Group 1: Company Overview - The company is a well-established contractor in electromechanical engineering, with a history dating back to 2006 [1] - It specializes in the supply, installation, maintenance, and repair of (i) heating, ventilation, and air conditioning systems; (ii) electrical installation systems; and (iii) water supply systems [1] - Historically, the company has primarily acted as a main contractor for private projects, with project owners mainly being large property management companies [1] Group 2: Revenue Breakdown - For the fiscal years 2023/24 and 2024/25, revenue from private projects accounted for approximately 97.7% and 98.2% of total revenue, respectively [2] - Revenue from projects where the company acted as the main contractor represented about 90.7% and 86.4% of total revenue for the same periods [2] Group 3: Project Portfolio - The company has mainly provided services to existing commercial properties in Hong Kong, managed by several large property management companies [2] - Notable commercial properties serviced include Ocean Terminal in Tsim Sha Tsui, Hysan Place in Causeway Bay, and others across Hong Kong Island, Kowloon, and the New Territories [2] Group 4: Use of IPO Proceeds - The estimated net proceeds from the share sale, assuming a share price of HKD 0.55, is approximately HKD 38.3 million [2] - Approximately 56.1% of the proceeds will be allocated for the preliminary costs of new projects, 32.6% for hiring new staff and leasing additional office space, 1.3% for upgrading the company's 'GL ERP' system, and 10.0% for general working capital [2]

Group 1 - The company, Golden Leaf International Group, plans to issue 100 million shares, with 10 million shares for public offering and 90 million shares for placement, with the offering period from September 30 to October 6, 2025, and expected pricing on October 8, 2025 [1] - The expected share price range is between HKD 0.45 and HKD 0.65 per share, with a trading unit of 5,000 shares, and the shares are anticipated to start trading on the Hong Kong Stock Exchange on October 10, 2025 [1] Group 2 - The company is a well-established contractor in the electromechanical engineering sector, with a history dating back to 2006, primarily engaged in the supply, installation, maintenance, and repair of HVAC systems, electrical installations, and water supply systems [2] - For the fiscal years 2023/24 and 2024/25, approximately 97.7% and 98.2% of the company's revenue, respectively, is expected to come from private projects, with around 90.7% and 86.4% of the revenue coming from projects where the company acts as the main contractor [2] Group 3 - The estimated net proceeds from the share issuance, assuming no exercise of the over-allotment option, is approximately HKD 38.3 million, calculated at a mid-point share price of HKD 0.55 [3] - The intended use of the net proceeds includes approximately 56.1% for upfront costs of new projects, about 32.6% for hiring new staff and leasing additional office space, around 1.3% for upgrading the company's "GLERP" system, and approximately 10.0% for general working capital [3]

Core Viewpoint - King Leaf International Group (08549) is set to launch an IPO from September 30 to October 6, 2025, offering 100 million shares at a price range of HKD 0.45 to 0.65 per share, with 10% for public offering and 90% for placement [1][2] Company Overview - The company is a well-established contractor in the electromechanical engineering sector, with a history dating back to 2006, specializing in the supply, installation, maintenance, and repair of HVAC systems, electrical installations, and water supply systems [1] - Historically, the company has primarily acted as a main contractor for private projects, with major clients being large property management companies [1] Revenue Breakdown - For the fiscal years 2023/24 and 2024/25, revenue from private projects accounted for approximately 97.7% and 98.2% of total revenue, respectively, while revenue from projects where the company acted as the main contractor represented about 90.7% and 86.4% of total revenue [2] - The company mainly provides services to existing commercial properties in Hong Kong, managed by several large property management firms [2] Project Locations - The company has serviced various commercial properties across Hong Kong Island, Kowloon, and the New Territories, including notable locations such as Ocean Terminal, China Hong Kong City, and Hysan Place [2] Use of IPO Proceeds - The estimated net proceeds from the share sale, assuming a share price of HKD 0.55, is approximately HKD 38.3 million, with allocations as follows: about 56.1% for new project costs, 32.6% for hiring new staff and leasing additional office space, 1.3% for upgrading the 'GL ERP' system, and 10.0% for general working capital [2]

Core Viewpoint - King Leaf International Group Limited is undergoing a listing hearing on the Hong Kong Stock Exchange's Growth Enterprise Market, with Sun Hung Kai Financial as its exclusive sponsor [1] Company Overview - King Leaf International is an established contractor in the electromechanical engineering sector, with a history dating back to 2006. The company specializes in the supply, installation, maintenance, and repair of heating, ventilation, and air conditioning systems, electrical installation systems, and water supply systems [3] - The company primarily serves private projects, with revenue from private projects accounting for approximately 97.7% and 98.2% of total revenue for the fiscal years 2023/24 and 2024/25, respectively [3] - King Leaf International has mainly provided services to existing commercial properties in Hong Kong, managed by several large property management companies [3] Project and Contract Types - The company undertakes various types of contracts, including fixed-price contracts, maintenance contracts, and regular contracts with pre-agreed rate tables. For the fiscal years 2023/24 and 2024/25, the company has taken on over 1,000 projects, with most contributing less than 500,000 HKD each [4] - As of July 31, 2025, the company has 187 projects on hand, with an uncompleted order value of approximately 62.8 million HKD [4] Financial Performance - For the fiscal years 2023/24 and 2024/25, the company's projected revenues are approximately 123.01 million HKD and 154.53 million HKD, respectively. The corresponding net profits are expected to be around 10.37 million HKD and 14.07 million HKD [5]

Core Insights - Golden Leaf International Group Limited is preparing for an upcoming listing in Hong Kong, with limited financing from the underwriter, Same People Financing Limited [1] Summary by Categories Company Overview - Golden Leaf International is an established contractor in the electromechanical engineering sector, with a history dating back to 2006 [1] - The company specializes in the supply, installation, maintenance, and repair of heating, ventilation, and air conditioning systems, electrical installation systems, and water supply systems [1] - Historically, the company has primarily acted as a main contractor for private projects, mainly serving large property management companies and providing services to existing commercial properties in Hong Kong [1] Use of Proceeds - The funds raised from the Hong Kong listing will be allocated for several purposes: 1. Covering preliminary costs for new projects 2. Hiring new employees and leasing additional office space 3. Upgrading the company's "GL ERP" system 4. General operational funding [1]