Company Overview
| Stock Name | Amuse Group |
|---|---|
| Stock Code | 08545 |
| Company Full Name | To be extracted |
| Industry | Consumer Discretionary |
| Principal Activities | 我們是香港玩具公司，從事設計、營銷、分銷及零售玩具及相關產品。產品組合包括以第三方擁有的熱門ACG角色為藍本的多種貴價及大眾化手辦及其他相關產品。收益來自銷售ODM玩具、進口玩具及自家特許玩具。 |
| Listing Date | 2018-05-31 |
| Listing Rules Era | Old Rules |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 香港荃灣灰窰角街24-32號美德大廈3A樓A-C室 |
| Business Address (Hong Kong) | 香港 荃灣 灰窰角街24-32號 美德大厦3A樓A-C室 |
| Place of Incorporation | 開曼群島 |
| Listing Method | 發售以供認購 + 發售以供配售 |
| Listing Board | GEM |
| Website | amusegroupholding.com |
| Share Registrar | 卓佳证券登记有限公司 (Tricor Investor Services Limited) |
| Registrar Contact | (852)2980 1333 |
| A-Share/US Dual Listing | No |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 0.35 / shares |
| Offer Price Range | To be extracted |
| Lot Size | To be extracted |
| Entry Threshold | To be extracted |
| Par Value | RMB 0.01 / shares |
| Offer Period | 2018-05-18 to 2018-05-24 |
| 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) | No |
| Stabilizing Manager (Greenshoe) | — |
| Cornerstone Share | No cornerstone investors |
| Clawback Tiers | To be extracted |
| Reallocation Option | Yes |
| Total Global Offering Size | HK$ 87,500,000 |
Stock Connect Inclusion Analysis
| 26Q4 Regular Review | |
| Inclusion Pathway | Regular Path |
|---|---|
| HK Market Cap | HK$ 43M |
| Est. Threshold | HK$ 9.44B |
| Analysis Result | HK market cap below threshold, need +21839% |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 300,000,000 |
|---|---|
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not disclosed |
| Profit/Loss Status | 盈利約11.3百萬港元（截至二零一七年三月三十一日止年度） |
| Period-End Cash Balance | To be extracted |
| Listing Expenses | ~HK$ 26,300,000 |
| Listing Expenses / Funds Raised | ~30.06% |
| Total Pre-IPO Investment | To be extracted |
Financial Data
Unit:
'000
HKD
Income Statement
| Item | 2016-03 | 2016 | 2017-03 | 2017 |
|---|---|---|---|---|
| Revenue | 123,154 | 106,538 | 136,888 | 94,002 |
| Cost of sales | -90,942 | -75,961 | -96,766 | -66,992 |
| Gross profit | 32,212 | 30,577 | 40,122 | 27,010 |
| Other income and gains, net | 2,567 | 572 | 2,187 | 2,680 |
| Selling and distribution expenses | -3,146 | -3,136 | -3,838 | -3,346 |
| Administrative expenses | -9,102 | -8,188 | -11,478 | -9,327 |
| Operating profit | 22,171 | 15,381 | 15,852 | 14,214 |
| Net finance costs | -74 | -82 | -113 | -81 |
| Profit before tax | 22,097 | 15,299 | 15,739 | 14,133 |
| Income tax expense | -3,838 | -3,298 | -4,467 | -2,892 |
| Profit for the year | 18,259 | 12,001 | 11,272 | 11,241 |
Balance Sheet
| Item | 2016-03 | 2017-03 | 2017 |
|---|---|---|---|
| Cash and cash equivalents | 52,027 | 32,282 | 25,704 |
| Trade and bills receivables | 18,280 | 26,782 | 35,618 |
| Inventories | 1,465 | 2,937 | 1,800 |
| Total current assets | 75,304 | 64,679 | 65,505 |
| Total assets | 94,293 | 87,647 | 91,128 |
| Total current liabilities | 40,880 | 27,272 | 25,347 |
| Total liabilities | 41,843 | 27,925 | 26,165 |
| Total equity | 52,450 | 59,722 | 64,963 |
| Equity attributable to owners | 52,450 | 59,722 | 64,963 |
| Interest-bearing borrowings | 6,961 | 6,731 | 6,635 |
Cash Flow Statement
| Item | 2016-03 | 2016 | 2017-03 | 2017 |
|---|---|---|---|---|
| Net cash from operating activities | 29,409 | -5,447 | -6,586 | 1,876 |
| Net cash from investing activities | -4,047 | -1,892 | -7,956 | -3,863 |
| Net cash from financing activities | -12,598 | -7,403 | -5,203 | -4,591 |
| Net increase in cash | 12,764 | -14,742 | -19,745 | -6,578 |
| Purchase of PP&E | -4,237 | -8,079 | -3,991 |
Income Statement
Balance Sheet
Cash Flow Statement
Source: Accountants' Report and Audited Consolidated Financial Statements
| First Day Close | HK$ 0.4 |
|---|---|
| First Day Open | HK$ 0.39 |
| First Day Change | 14.29% |
| First Day Volume | 507256000.0 |
| First Day Turnover | 194932000.0 |
| Use of Proceeds | 1、約46.9百萬港元（所得款項凈額約79.8%）將用于擴大自家特許玩具的產品組合；
2、約3.7百萬港元（所得款項凈額約6.3%）將用于加強海外分銷網絡；
3、約6.1百萬港元（所得款項凈額約10.3%）將用于進一步鞏固人力資源；
4、約2.1百萬港元（所得款項凈額約3.6%）將用于進一步改善信息科技系統及進行倉庫翻新。 |
Underwriting Syndicate
Sole Sponsor (1)
Ample Capital Limited CE AFZ323
Overall Coordinators (2)
Joint Bookrunners (2)
Joint Lead Managers (2)
Cornerstone Investors
This stock has no cornerstone investors.
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman | 李偉強 | — |
| Company Secretary | 杜海斌 | — |
No director data available.
Major Shareholders
| Major Shareholders & Holdings | Infinite Force（由李偉強全資擁有）持股63.75%；李偉強受控制法團權益63.75%；方頴茵配偶權益63.75%；新通持股11.25%（由中國投融資集團有限公司全資擁有）；中國投融資集團有限公司受控制法團權益11.25%。 |
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