Cowell 01415 Prospectus Information

Company Overview

Stock Name	Cowell
Stock Code	01415
Company Full Name	To be extracted
Industry	Information Technology
Principal Activities	以原設備製造方式設計、開發、製造及銷售各類相機模組，用作具備相機功能的智能手機、多媒體平板電腦及其他移動設備的重要部件；亦設計、開發、製造及銷售用於多種消費電子產品的光學部件
Listing Date	2015-03-31
Listing Rules Era	Old Rules
Listing Rules Chapter	To be extracted
Weighted Voting Rights (WVR)	No
Registered Address (Mainland China)	中國廣東省東莞市寮步鎮華南工業區松柏路1號
Business Address (Hong Kong)	九龍尖沙咀廣東道9號港威大廈6座32樓3208–9室
Place of Incorporation	To be extracted
Listing Method	To be extracted
Listing Board	Main Board
Website	cowelleholdings.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 Mechanism	Mechanism A
Offer Price	HK$ 4.25 / shares
Offer Price Range	To be extracted
Lot Size	To be extracted
Entry Threshold	To be extracted
Par Value	To be extracted
Offer Period	2015-03-19 to 2015-03-24
Global Offering Shares	208,000,000 shares
HK Public Offer Shares (Initial)	20,800,000 shares (10.0%)
Public Offer Lots (Initial)	To be extracted
International Placing Shares (Initial)	187,200,000 shares (90.0%)
Offer Ratio	~10.0%
Total Shares Post-IPO	831,518,800 shares
Greenshoe (Over-allotment Option)	Yes
Stabilizing Manager (Greenshoe)	To be extracted
Cornerstone Share	No cornerstone investors
Clawback Tiers	To be extracted
Reallocation Option	Yes
Total Global Offering Size	HK$ 884,000,000

HK Market Cap	HK$ 21.55B
Analysis Result	Already included in Stock Connect (both)

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50.2百萬美元
Period-End Cash Balance	45.2百萬美元
Listing Expenses	~HK$ 65,700,000
Listing Expenses / Funds Raised	~7.43%
Total Pre-IPO Investment	To be extracted

Unit: USD

Income Statement

Item	2013	2014
Profit for the year	50,241,737	53,244,827

Balance Sheet

Item	2013	2014
Cash and cash equivalents	45,220,376	82,223,720
Trade and bills receivables	167,400,739	221,001,452
Inventories	55,034,171	66,002,147
Total current assets	293,892,804	389,779,659
Total current liabilities	259,502,786	311,892,280
Total equity	139,862,861	192,432,491
Interest-bearing borrowings	123,808,780	91,938,790

Cash Flow Statement

Item	2011	2012	2013	2014-10	2014
Net cash from operating activities	8,144,851	-8,092,809	46,792,955	32,073,782
Net cash from investing activities	-8,333,982	-50,123,237	-15,821,365	-21,239,316
Net cash from financing activities	9,255,101	68,889,217	577,327	-38,486,658
Net increase in cash	9,065,970	10,673,171	31,548,917	-27,652,192
Purchase of PP&E		-50,681,569	-15,807,825		-20,353,351

Income Statement

Balance Sheet

Cash Flow Statement

Source: Accountants' Report and Audited Consolidated Financial Statements

First Day Close	HK$ 3.83
First Day Open	HK$ 4.25
First Day Change	-9.88%
First Day Volume	47907000.0
First Day Turnover	191825000.0
Use of Proceeds	1、公司擬按下列方式將所得款項凈額約79%（約254.6百萬港元）投資于增強及擴充產能： 1、1 所得款項凈額約66%（約212.7百萬港元）用作增強定焦相機模塊現有生產線的產能，并使我們能開始生產高端相機模塊； 1、2 所得款項凈額約13%（約41.9百萬港元）用作安裝用于質量控制及檢測程序的更先進機器改善終端線檢測程序，從而提升用作生產高端COB相機模塊的現有生產線（無需提升COB相機模塊的整體產量），預期將于2015年上半年完成； 2、所得款項凈額約12%（約38.7百萬港元）用作償還用作營運資金的匯豐有期銀行貸款； 3、所得款項凈額約9%（約29.0百萬港元）用作營運資金及其他一般公司用途。

Sole Sponsor (1)

Morgan Stanley Asia Limited CE AAD291

Overall Coordinators (1)

Morgan Stanley Asia Limited CE AAD291

Joint Bookrunners (1)

Morgan Stanley Asia Limited CE AAD291

Joint Lead Managers (3)

Morgan Stanley Asia Limited CE AAD291 BNP PARIBAS SECURITIES (ASIA) LIMITED CE AAF669 CGS International Securities Hong Kong Limited CE AAW351

This stock has no cornerstone investors.

Position	Chinese name	English Name
Chairman	Kwak Joung Hwan	—
Company Secretary	林詠欣	—

No director data available.

Major Shareholders & Holdings	Kwak先生持374,159,400股（45.00%）；Hahn & Co. Eye持249,359,400股（29.99%）