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To-be Listed (Grey Market Trading Session: 16:15-18:30)
Name
/
Code
Industry Listing Price Lot Size Entry Fee Phillip Grey Market Futu (HK) Grey Market
Jiuyuan Gene
02566.HK
Grey Market Today
Biotechnology - Medical Devices Pending 200 2,537
-
-
Detail Quote
Last update: 2024-11-27 08:30:05
Name
/
Code
Industry Offer Price Lot Size Entry Fee Closing Date
Grey Market Date
Listing Date
Mokingran
02585.HK
Watch & Jewellery 12-14.4 200 2,909 2024/11/26 2024/11/28 2024/11/29
Summary
We are a PRC provider for (i) data transmission and processing services for IoT applications and (ii) telecommunication equipment, serving a broad range of industrial customers. During the Track Record Period, we mainly provided customized data transmission and processing services to customers in manufacturing, municipal services and other industries in the PRC, and researched, developed and sold telecommunication equipment. To a lesser extent, we also generated revenue from provision of other services during the Track Record Period, such as telecommunication equipment maintenance and telecommunication consulting services.

Our data transmission and processing services for IoT applications assist our customers to realize and optimize their digitalizations. Catering to customers’ specific needs, we are flexible in providing our customers with either integrated services or software services. In the integrated services, we primarily embed telecommunication equipment for data transmission and deploy centralized data platform, namely Universal IoT Platform, for data processing. In the software services, we primarily provide customized centralized data platform for data processing according to our customers’ demands. In return, our customers pay us service fees for such services. In particular, supporting by our R&D capabilities in 5G radio frequency area, we are able to diversify the network connectivity mode in our services by introducing 5G telecommunication equipment. We have been offering our customers with private 5G network services since 2020. During the Track Record Period and up to the Latest Practicable Date, we had accomplished a total of 98 projects of data transmission and processing services for IoT applications, among which 18 projects were private 5G network service projects.

We also sold 5G and other telecommunication equipment in the PRC and export antennas to the United States and Russia during the Track Record Period. We offer a wide range of telecommunication equipment that can be adapted in various wireless communication networks, including but not limited to 4G and 5G. During the Track Record Period and up to the Latest Practicable Date, we had sold telecommunication equipment of 344 SKUs.

We have established double-centered R&D teams in Nanjing and Shenzhen primarily for hardware and software design, respectively, which enables us to provide integrated options for our customers with telecommunication equipment and data management platform. During the Track Record Period, we successfully developed our proprietary 5G telecommunication equipment with certain self-developed core module and software embedded, such as front end module, digital front-end algorithm and protocol stack. As of the Latest Practicable Date, we had 93 utility model patents, 17 patents for invention, two patents for industrial design and 80 copyrights registered in the PRC in relation to our data transmission and processing services for IoT applications and telecommunication equipment. We have continuously expanded our R&D department, which comprised 47 R&D professionals as of May 31, 2022, representing 58.0% of our total employees as of the same date.

We generally outsource the production of our telecommunication equipment to OEM manufacturers and conduct strict quality control on such OEM manufacturers. Outsourcing equipment manufacturing allows us to focus on strategic core competencies, such as hardware and software development and upgrade. In addition, we established an assembly and testing center in Shenzhen for assembling and testing of certain IoT antenna products with simple design or certain key production processing that may affect the performance of our IoT antenna products.

According to Frost & Sullivan, as the products and services offered in the market where we operate should strictly conform to certain industry standards, as a result, there are no substantial differences in functions of products and services provided in the PRC IoT market. Therefore, the differentiation among market players could be reviewed from certain value-added areas, including, among others, customization capability, integration capability of software and hardware, delivery capability, R&D capability and after-sales services. We differentiate ourselves mainly from our competitors by our hardware and software integration capabilities and our proven service delivery capabilities. Our proven service delivery capabilities are attributable to (i) our customized services and equipment, which enables our services to cater our customer’s actual needs; (ii) relatively shortened delivery period, which we believe could make us more attractive to potential customers; (iii) considerate and professional customer support, which awards us with customer satisfaction; and (iv) advanced technologies developed and adopted in our products and services, which underpins the competitiveness of our business. See “Business — Our Competitive Strengths.”

We have continuously improved our financial performance during the Track Record Period. Our revenue increased from RMB80.9 million in 2019 to RMB189.6 million in 2021 at a CAGR of 53.1%. Our revenue further increased by 56.2% from RMB53.1 million for the five months ended May 31, 2021 to RMB82.9 million for the same period in 2022. Our net profit increased from RMB17.4 million in 2019 to RMB34.4 million in 2021 at a CAGR of 40.8%. Our net profit further increased by 66.6% from RMB6.3 million for the five months ended May 31, 2021 to RMB10.5 million for the same period in 2022. Since the introduction of 5G technologies in our data transmission and processing services and telecommunication equipment, our revenue generated from 5G technologies-related equipment and services (“5G business”) amounted to RMB2.0 million, RMB69.5 million, RMB72.9 million and RMB51.0 million in 2019, 2020 and 2021 and the five months ended May 31, 2022, respectively, steadily becoming a substantial portion of our overall revenue during the Track Record Period.



Source: Howkingtech (02440) Prospectus (IPO Date : 2022/11/30)
Listing Market MAIN
Industry Telecommunications & Networking Equipment
Background Others
Major Business Area N/A
Corporate Information
Substantial Shareholders Wang Zheshi & Associates (53.83%)
Shenzhen Huixin Qianhai Equity Investment Enterprise (LLP) (6.32%)
Directors Chen Ping (Chairman and Chief Executive Officer and Executive Director)
Feng Yijing (Chief Financial Officer and Executive Director)
Wang Jun (Chief Technology Officer and Executive Director)
Wang Zheshi (Executive Director)
Fong Wo Felix (Independent Non-Executive Director)
Gu Jiong (Independent Non-Executive Director)
Yang Hai (Independent Non-Executive Director)
Company Secretary PUN Ka Ying
Principal Bankers China Merchants Bank
China Everbright Bank
Solicitors Jingtian & Gongcheng LLP
Auditors Ernst & Young
Registered Office 5th Floor, Manulife Place, 348 Kwun Tong Road, Kowloon, Hong Kong
Share Registrars Tricor Investor Services Ltd. [Tel: (852) 2980-1333]
Share Registrars Tel No (852) 2980-1333
Internet Address http://www.howkingtech.com
Email Address ir@howkingtech.com
Tel No (86 025) 5809-7161
Fax No (86 025) 5809-7162
 
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