Company Overview
| Stock Name | Chiho Env |
|---|---|
| Stock Code | 00976 |
| Company Full Name | To be extracted |
| Industry | Industrial Goods |
| Principal Activities | 本集團主要從事混合廢金屬回收、循環再用及加工，將廢電機、廢變壓器、廢電線及電纜等分解成廢銅、廢鋼、廢鋁及舊生鐵等再生金屬產品；亦從事鑄造業務，生產鋁錠與銅桿銅線；並採購及銷售未經進一步加工的廢金屬（批發產品）。 |
| Listing Date | 2010-07-12 |
| Listing Rules Era | Old Rules |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國浙江省台州市路橋區峰江鎮台州金屬再生工業園區 |
| Business Address (Hong Kong) | To be extracted |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | chiho-tiande.com |
| Share Registrar | 香港中央證券登記有限公司 (Computershare Hong Kong Investor Services Limited) |
| Registrar Contact | (852)2862 8628 |
| A-Share/US Dual Listing | No |
Offering Information
| Offering Mechanism | To be extracted |
|---|---|
| Offer Price | HK$ 2.43 / shares |
| Offer Price Range | To be extracted |
| Lot Size | To be extracted |
| Entry Threshold | To be extracted |
| Par Value | To be extracted |
| Offer Period | 2010-06-28 to 2010-07-02 |
| Global Offering Shares | 250,000,000 shares |
| HK Public Offer Shares (Initial) | 25,000,000 shares (10.0%) |
| Public Offer Lots (Initial) | To be extracted |
| International Placing Shares (Initial) | 225,000,000 shares (90.0%) |
| Offer Ratio | ~10.0% |
| Total Shares Post-IPO | 1,000,000,000 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | To be extracted |
| Cornerstone Share | No cornerstone investors |
| Clawback Tiers | To be extracted |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 607,500,000 |
Stock Connect Inclusion Analysis
| 26Q4 Regular Review | |
| Inclusion Pathway | Regular Path |
|---|---|
| HK Market Cap | HK$ 690.2M |
| Est. Threshold | HK$ 9.44B |
| Analysis Result | HK market cap below threshold, need +1268% |
Valuation & Financials
| Market Cap (at Offer Price) | To be extracted |
|---|---|
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not disclosed |
| Profit/Loss Status | 年內溢利約419.7百萬港元 |
| Period-End Cash Balance | 港元69.4百萬元 |
| Listing Expenses | To be extracted |
| Listing Expenses / Funds Raised | To be extracted |
| Total Pre-IPO Investment | To be extracted |
Financial Data
Unit:
'000
HKD
Income Statement
| Item | 2007 | 2008 | 2009 |
|---|---|---|---|
| Revenue | 1,798,332 | 2,505,168 | 2,339,243 |
| Cost of sales | -1,683,399 | -2,740,007 | -1,784,806 |
| Gross profit | 114,933 | -234,839 | 554,437 |
| Other income and gains, net | 1,217 | 8,501 | 5,711 |
| Selling and distribution expenses | -709 | -1,700 | -1,757 |
| Administrative expenses | -14,799 | -28,137 | -34,917 |
| Net finance costs | -18,431 | -41,598 | -28,823 |
| Profit before tax | 105,921 | -271,298 | 587,194 |
| Income tax expense | -22,958 | 71,166 | -167,540 |
| Profit for the year | 82,963 | -200,132 | 419,654 |
Balance Sheet
| Item | 2007 | 2008 | 2009 |
|---|---|---|---|
| Cash and cash equivalents | 20,113 | 44,174 | 69,428 |
| Trade and bills receivables | 283,727 | 160,157 | 188,826 |
| Inventories | 324,092 | 569,808 | 1,167,437 |
| Total current assets | 633,021 | 857,409 | 1,676,332 |
| Total assets | 779,434 | 1,110,846 | 1,851,728 |
| Total current liabilities | 595,997 | 1,115,883 | 1,188,704 |
| Total liabilities | 595,997 | 1,115,883 | 1,433,630 |
| Total equity | 183,437 | -5,037 | 418,098 |
| Interest-bearing borrowings | 422,916 | 500,552 | 799,046 |
Cash Flow Statement
| Item | 2007 | 2008 | 2009 |
|---|---|---|---|
| Net cash from operating activities | -113,253 | -313,010 | 40,219 |
| Net cash from investing activities | -34,686 | -52,076 | -219,726 |
| Net cash from financing activities | 158,959 | 387,889 | 204,734 |
| Net increase in cash | 11,020 | 22,803 | 25,227 |
| Depreciation of PP&E | 6,363 | 7,502 | 7,642 |
| Amortisation of intangible assets | 773 | 847 | 859 |
| Purchase of PP&E | -30,287 | -27,818 | -12,049 |
Income Statement
Balance Sheet
Cash Flow Statement
Source: Accountants' Report and Audited Consolidated Financial Statements
| First Day Close | HK$ 2.39 |
|---|---|
| First Day Open | HK$ 2.05 |
| First Day Change | -1.65% |
| First Day Volume | 25960000.0 |
| First Day Turnover | 59238000.0 |
| Use of Proceeds | 1、約50%或274.5百萬港元(約等于人民幣240.8百萬人民幣)，用作購買原料；
2、約20%或109.8百萬港元(約等于人民幣96.3百萬人民幣)，用作通過合資企業及╱或并購進一步擴大采購網絡及提升能力。；
3、約12.5%或68.6百萬港元(約等于人民幣60.2百萬人民幣)，用作提升寧波現有加工及生產基地產能及于本公司認為適當的中國其他城市建立新生產基地。
4、 約7.8%或50.0百萬港元(約等于人民幣43.9百萬人民幣)，用作償還股東貸款；
5、約9.7%或53.3百萬港元(約等于人民幣46.7百萬人民幣)，用作一般營運資金。 |
Underwriting Syndicate
Sole Sponsor (1)
建银国际金融有限公司 CE AJO225
Overall Coordinators (1)
建银国际金融有限公司 CE AJO225
Joint Bookrunners (1)
建银国际金融有限公司 CE AJO225
Joint Lead Managers (1)
建银国际金融有限公司 CE AJO225
Cornerstone Investors
This stock has no cornerstone investors.
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman | 秦永明 | — |
| Company Secretary | 許佳媛 | — |
No director data available.
Major Shareholders
| Major Shareholders & Holdings | HWH及Delco Participation各持有375,000,000股（佔已發行股本37.5%），Green Elite持有60,000,000股（佔6%），三者合共控制約69%投票權。方先生為HWH唯一股東；van Ooijen先生及de Leeuw先生各自間接持有Delco Participation 50%權益。 |
|---|
