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]