Soar Lee Pattern Constructing Holdings Small Declares Proposed Itemizing on Well-known Board of The Stock Substitute of Hong Kong Small

Funding Highlights:

– Our vision is to change into a pioneer within the trend alternate and lead the route and requirements of alternate trend.

– Our mission is to relieve the most realistic probably efficiency in security, well being, environment and quality within the alternate.

– Our purpose is to consolidate our market space, magnify our market share, and rob increase opportunities in Hong Kong’s development alternate.

– With over 18 years of intensive expertise in Hong Kong’s civil and electrical engineering industries, Soar Lee has participated in sizeable infrastructure initiatives including the Third Runway Initiatives at the Hong Kong World Airport, a village sewerage mission at Mui Wo in respect of road and drainage works, and electrical cable engineering works for the CLP Neighborhood.  The Firm is the largest energy cabling and civil pipeline set up subcontractor in Hong Kong in 2023.

– Highly experienced management team, includes the two founders who bear more than 26 and 18 years of expertise within the alternate, respectively, and are responsible for the overall management, formulation of industry solutions and trend, besides as the Firm’s environmental protection and sustainable trend activity.

– Has its relish team and abundant equipment and equipment, offering flexibility to undertake huge infrastructure initiatives, decreasing the reliance on subcontractors or suppliers and affirming its competitiveness of pricing.

– Imposes a stringent quality adjust and excessive security customary and environmental impression adjust.

– Grasps the traits of sustainable trend in Hong Kong, started deploying solar PV system industry as early as in 2019.

– Distributor of electric development equipment of China Wealth Hong Kong Machine Small, a fellow subsidiary of SANY Heavy Substitute Co., Ltd* (an organization listed on the Shanghai Stock Substitute) and Sany Heavy Equipment World Holdings Firm Small (an organization listed on the Hong Kong Stock Substitute)

– For the year ended 31 March 2024, the Firm’s earnings and safe profit climbed year-on-year by Forty five.7% and 89.6%, respectively.

HONG KONG, Sept 27, 2024 – (ACN Newswire) – Soar Lee Pattern Constructing Holdings Small (” Soar Lee ” or ” Firm”, along with its subsidiaries, the “Neighborhood”)), a up to date generation development alternate leader, announced this day its proposed checklist on the Well-known Board of The Stock Substitute of Hong Kong Small (the “HKEX”).

Soar Lee plans to provide 250,000,000 Shares (field to the over-share option), of which, 90% are for putting (field to reallocation and the over-share option), and the closing 10% would possibly maybe be for public offer (field to reallocation), with a proposal impress vary of HK$0.57 to HK$0.73 per Half (field to downward offer impress adjustment where the offer impress would possibly maybe be HK$0.513 per Half). Assuming a proposal impress of HK$0.65 per Half, being the mid-point of the offer impress vary, and after deducting the underwriting charges, commissions and estimated charges in terms of the proportion offer, the online proceeds from the proportion offer is estimated to be approximately HK$130.5 million.

The public offer will starting up on 27 September 2024 (Friday) and pause at noon on 4 October 2024 (Friday). The percentage outcomes would possibly maybe be announced no later than 8 October 2024 (Tuesday). Buying and selling of Soar Lee’ Shares will starting up on 9 October 2024 (Wednesday) under the stock code of 09639. The shares would possibly maybe be traded in board hundreds 5,000 shares every.

Alliance Capital Partners Small is the Sole Sponsor and Total Coordinator of the proportion offer, whereas Alliance Capital Partners Small, China Galaxy World Securities (Hong Kong) Co., Small, CMBC Securities Firm Small, ABCI Capital Small, Haitong World Securities Firm Small and China Industrial Securities World Capital Small are the Joint Bookrunners. ABCI Securities Firm Small, Cinda World Capital Small, Phillip Securities (Hong Kong) Small, Futu Securities World (Hong Kong) Small, ZMF Asset Management Small, Gaoyu Securities Small and Livermore Holdings Small are the Joint Lead Managers. The Cornerstone Investors consist of Sany Hongkong Neighborhood Small, Accel Neighborhood Holdings Small and The Triplex Holdings Small.

BUSINESS OVERVIEW

The Neighborhood is an established contractor in Hong Kong engaged in civil and electrical cable engineering and solar PV system works. With over 18 years of intensive expertise in Hong Kong’s civil and electrical engineering industries, the Neighborhood provides total and excessive-quality development services and products. By civil engineering works, the Neighborhood specializes in space formation works and road and drainage works. For electrical cable engineering works, the Neighborhood specializes in cable trenching, laying and jointing works. For solar PV system works, the Neighborhood specializes in make, set up and maintenance works of solar PV systems.

For the three financial years ended 31 March 2024, the Neighborhood done a total of 79 initiatives. By space formation works, the Neighborhood has participated in sizeable infrastructure initiatives such as the Third Runway Initiatives at the Hong Kong World Airport. In respect of Boulevard and drainage works, the Neighborhood used to be the principle contractor of a department of Hong Kong Executive for a village sewerage mission at Mui Wo with a contract sum of roughly HK$Ninety nine.1 million. As for electrical cable engineering works, the Neighborhood used to be one in every of the subcontractors for the CLP Neighborhood, offering zonal cable trenching, laying and jointing works within the Sham Shui Po, Wong Tai Sin and Tsuen Wan zones. In accordance with the alternate story interesting by Frost & Sullivan Small, the Neighborhood is the largest energy cabling and civil pipeline set up subcontractor in Hong Kong in 2023 with the market share of roughly 13.6% primarily based on its earnings for FY2023/24. As at 31 July 2024, the Firm presently has 27 initiatives in development and its price of backlog amounts to approximately HK$815.5 million.

Pattern and Strengths

With the Hong Kong government deploying for and investing in space formation and infrastructure initiatives within the proposed Northern Metropolis Pattern, the Hong Kong-Shenzhen Innovation and Abilities Park, and the Hung Shui Kiu/Ha Tsuen Aloof Pattern Home, civil engineering market interrogate is expected to relieve rising. Soar Lee has excessive hopes to face out within the fierce market competition, be in a space to fully take the huge industry opportunities within the developing alternate, and in turn peep its industry earnings grow with out note.

For combating native weather alternate and achieving carbon neutrality, the Hong Kong government launched the Hong Kong’s Native weather Action Conception 2050, commencing the vision of “Zero-carbon Emissions • Liveable Metropolis • Sustainable Pattern”. As well to, the Pattern Bureau additionally established the Constructing Innovation and Abilities Fund (CITF) to increase superior development applied sciences. Repeatedly staying abreast of Hong Kong’s trend pattern, the Neighborhood has been actively taking share to in discovering energy effectivity choices for the market. As early as in 2019, it started deploying its solar PV system industry.

Additionally, the Neighborhood has entered into a distribution agreement with China Wealth Hong Kong Machine Small (“China Wealth”), a fellow subsidiary of SANY Heavy Substitute Co., Ltd* (an organization listed on the Shanghai Stock Substitute) and Sany Heavy Equipment World Holdings Firm Small (an organization listed on the Hong Kong Stock Substitute). Furthermore, the electrical equipment of China Wealth, such as electric loader and electric excavator, is on the pre-current list of the Constructing Innovation and Abilities Fund (CITF) under the class of superior tools and equipment. Thus, assured in electric equipment having opportunities to accomplish constantly, Soar Lee will aquire, make investments in and deploy more of them to be used in future initiatives.

Soar Lee consistently emphasizes security and is committed to promoting security prepare for the length of the implementation of our initiatives. Over the past three fiscal years, the Firm’s accident rates used to be decrease than the alternate reasonable in Hong Kong. Additionally, Soar Lee will reply to the Hong Kong government’s adoption of Tidy Location Security Machine (“4S”). The Machine can visual display unit actions and name security hazards, gain accurate-time details and ship them to the centralized management platform for details diagnosis and issuing alert, offering team assistance and protection any time plus a corpulent describe of the protection effort on a development space, for a mission to be implemented more efficiently.

One of the well-known advantages of Soar Lee is its relish steady team and equipment and equipment, giving it flexibility in allocating team and equipment and equipment to handle initiatives of diverse sizes and complexity. Within the meantime, it additionally reduces the Firm’s reliance on subcontractors or suppliers which would relieve its competitiveness of pricing.

Soar Lee’s management team has intensive mission expertise and alternate have an effect on within the

development industries in Hong Kong. Among them, Mr. Yiu Wang Lee, Chairman, CEO, Executive Director, and co-founder, has over 26 years of expertise in civil and electrical cable engineering industries; Mr. Yiu Wang Lung, an govt Director and one in every of our founders, has over 18 years of expertise; Mr. Chan Lo Man, an govt Director, is primarily responsible for the day-to-day mission management and day-to-day management of the operations of the Firm. Mr. Chan has been responsible for overseeing the Firm’s loads of main initiatives, including the initiatives with the CLP Neighborhood and the Third Runway Initiatives of the Hong Kong World Airport, among others; Ms. Tse Ka Soar has amassed expertise with over 17 years of finance and accounting expertise. The Firm’s three fair non-govt directors additionally converse rich alternate expertise. The Honorable Mr. Shang Hai Lengthy is a member of the Legislative Council of the Hong Kong Particular Administrative Space and serves as an consultant to several listed firms; Mr. Fu He has over 30 years of distinctive management expertise in civil engineering, and held key positions in numerous listed firms; Mr. Leung Wai Hung has more than two decades of intensive expertise in just a few Hong Kong listed firms, including CK Hutchison Holdings Small (Stock Code: 001).

Financial Performance

Soar Lee has done a gradual financial efficiency in the end of the last three financial years. For the three financial years ended 31 March 2024, the earnings amounted to approximately HK$520.4 million, HK$361.2 million and HK$526.1 million, respectively. The safe profit amounted to approximately HK$59.1 million, HK$40.6 million and HK$76.9 million, respectively. The imperfect profit margin elevated from approximately 18.0% for the year ended 31 March 2022 to approximately 20.9% for the year ended 31 March 2023 to approximately 23.1% for the year ended 31 March 2024, whereas the online profit margin elevated from approximately 11.3% for the years ended 31 March 2022 and approximately 11.2% for the year ended 31 March 2023 to approximately 14.6% for the year ended 31 March 2024.

Mr. Yiu Wang Lee, Chairman, CEO, Executive Director, and co-founding father of Soar Lee acknowledged: “The Neighborhood is committed to working its industry in a sustainable system, making factual employ of resources and offering possibilities with quality and legit services and products. We are completely conscious that achieving prolonged-time frame and sustainable trend goals requires no longer most realistic probably subtle industry solutions, nonetheless additionally active promotion of environmental and social responsibility, expertise trend, and community feedback. We strive to full a steadiness and bag-bag effort among social, environmental, and economic aspects, thereby contributing to world sustainable trend.”

Exercise of Proceeds
Assuming a proposal impress of HK$0.65 per offer share, which is the mid-point of the indicative offer impress vary, the Neighborhood expects to get safe proceeds of roughly HK$130.5 million, after deducting the underwriting charges and commissions and estimated charges payable in connection with the Offering. The Neighborhood intends to make employ of the proceeds from the Public Offering for the purposes and within the amounts house forth under:

Financial Highlights

About Soar Lee Pattern Constructing Holdings Small

The Neighborhood is an established contractor in Hong Kong engaged in civil and electrical cable engineering and solar PV system works. With over 18 years of intensive expertise in Hong Kong’s civil and electrical engineering industries, the Neighborhood has participated in sizeable infrastructure initiatives such as the Third Runway Initiatives at the Hong Kong World Airport. The Neighborhood used to be additionally one in every of the subcontractors for the CLP Neighborhood, offering zonal cable trenching, laying and jointing works within the Sham Shui Po, Wong Tai Sin and Tsuen Wan zones. It used to be the principle contractor of a department of Hong Kong government for a village sewerage mission at Mui Wo with a contract sum of roughly HK$Ninety nine.1 million. In accordance with Frost & Sullivan Small, Soar Lee is the largest energy cabling and civil pipeline set up subcontractor in Hong Kong in 2023 with the market share of roughly 13.6% primarily based on its earnings for FY2023/24. One of the well-known advantages of Soar Lee is its relish steady team and equipment and equipment, giving it flexibility in allocating team and equipment and equipment to handle initiatives of diverse sizes and complexity.

THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR TO ISSUE, OR A SOLICITATION OF ANY OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES (THE “SHARES”) OF WING LEE DEVELOPMENT CONSTRUCTION HOLDINGS LIMITED (THE “COMPANY”) IN ANY JURISDICTIONS IN WHICH SUCH OFFER, INVITATION, SUBSCRIPTION OR SOLICITATION OR SALE IS NOT PERMITTED. THIS PRESS RELEASE AND THE SHARES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”) OR ANY STATE SECURITIES LAWS OF THE UNITED STATES, AND MAY NOT BE DISTRIBUTED OR OFFERED, SOLD OR DELIVERED, AS THE CASE MAY BE, IN THE UNITED STATES, OR TO, OR FOR THE ACCOUNT OR BENEFIT OF U.S. PERSONS, EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR IN ACCORDANCE WITH AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT. THE COMPANY HAS NOT AND DOES NOT INTEND TO REGISTER THE SHARES UNDER THE U.S. SECURITIES ACT OR MAKE ANY PUBLIC OFFER OF THE SHARES IN THE UNITED STATES. NO COPY OF THIS PRESS RELEASE (AND INFORMATION CONTAINED HEREIN) HAS BEEN OR SHOULD BE DISTRIBUTED OR SENT, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION WHERE DOING SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

THE PRICE OF THE SHARES MAY BE STABILIZED IN ACCORDANCE WITH THE SECURITIES AND FUTURES (PRICE STABILIZING) RULES (CHAPTER 571W OF THE LAWS OF HONG KONG) IN HONG KONG. THE DETAILS OF THE INTENDED STABILIZATION AND HOW IT WILL BE REGULATED UNDER THE SECURITIES AND FUTURES ORDINANCE (CHAPTER 571 OF THE LAWS OF HONG KONG) ARE CONTAINED IN THE PROSPECTUS OF THE COMPANY.

THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS THAT STATE THE INTENTIONS, BELIEFS, EXPECTATIONS OR PREDICTIONS FOR THE FUTURE THAT ARE, BY THEIR NATURE, SUBJECT TO SIGNIFICANT RISKS AND UNCERTAINTIES AND THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE EXPRESSED IN SUCH FORWARD-LOOKING STATEMENTS.

Matter: Press launch summary

Sectors: Originate, Engineering

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