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IPO Plus - IPO

To-be Listed
Name▼
/
Code▼
 Industry Offer Price Lot Size Entry Fee Closing Date
Grey Market Date▼
Listing Date▲
BrainAurora-B
06681.HK		 Biotechnology - Supplies & Services 3.22 1,000 N/A 2025/01/03 2025/01/07 2025/01/08
Conch Material Tech
02560.HK		 Construction Materials 3-3.3 1,000 3,333 2025/01/06 2025/01/08 2025/01/09
ContiOcean
02613.HK		 Application Software 31.8-39.8 100 4,020 2025/01/06 2025/01/08 2025/01/09
Bloks Group
00325.HK		 Toys 55.65-60.35 300 18,288 2025/01/07 2025/01/09 2025/01/10
Numans Health Food
02530.HK		 Health Care Supplies 0.8-1.09 8,000 8,808 2025/01/07 2025/01/09 2025/01/10
New Gonow RV
00805.HK		 Automobile Manufacturers 1.24-1.64 2,000 3,313 2025/01/08 2025/01/10 2025/01/13
Yibin Bank
02596.HK		 Diversified Banks 2.59-2.72 1,000 2,747 2025/01/08 2025/01/10 2025/01/13
Saimo Tech
02571.HK		 Application Software 12-18 200 3,636 2025/01/10 2025/01/14 2025/01/15
YOHO GROUP (02347.HK)
Summary
We are one of the leading market players in the business-to-consumer (B2C) e-commerce industry in Hong Kong as confirmed by F&S, carrying over 23,000 SKUs (with a focus on Consumer Electronics and Home Appliances) and having established a customer base comprising over 807,000 registered members as at the Latest Practicable Date. Our brand name “Yoho (友和) ” encapsulates our ideology to create a one-stop e-commerce platform that caters for the wide-ranging needs of the consumers under the motto “you name it, we’ve got it (就係友和，乜都有喎！)”.

Our retail business adopts the online-merge-offline (OMO) model and comprises the following retail sales channels under the B2C model: (i) online B2C sales through the Yoho E-commerce Platform, i.e. our e-commerce platform at www.yohohongkong.com (desktop version) or m.yohohongkong.com (mobile version); (ii) online B2B2C sales to our end customers via Reward Scheme Platforms and third-party online marketplaces; and (iii) offline B2C sales made at our two retail stores, i.e. the Kwun Tong Store and the Cheung Sha Wan Flagship Store.

We have remained dedicated to the offering of Consumer Electronics and Home Appliances, which are one of the major product categories in the retail e-commerce industry in Hong Kong accounting for approximately 31.3% of the total online retail sales for FY20/21. According to the F&S Report, we ranked first as an e-commerce platform with a primary focus on Consumer Electronics and Home Appliances in Hong Kong in terms of website traffic, and recorded the highest online retail sales of Consumer Electronics and Home Appliances among all Hong Kong e-commerce platforms with a market share of approximately 5.6%, for FY20/21. We also ranked second and third (with a market share of approximately 1.8%) among all Hong Kong e-commerce platforms in terms of website traffic and overall online retail sales respectively for FY20/21.

As a fast-growing enterprise, we have achieved a significant growth in our revenue, recording a CAGR of approximately 96.5% during the three years ended 31 March 2021; in particular, our revenue derived from the Yoho OMO Business had grown at a CAGR of 107.1% during the three years ended 31 March 2021. Our Group was among the initial investee companies of the ITVF Scheme, where the investments were made through ITVFC, its special-purpose vehicle and our former shareholder, in April and November 2019; the ITVF Scheme was a fund set up by the Hong Kong government to encourage more private venture capital funding to invest in local innovation and technology start-ups.

With both online and offline presence and utilising the power of technologies, we are well-equipped to provide our customers with a shopping experience that blends the advantages of online shopping and offline shopping. We believe that our leading position in the industry is underpinned by our endeavour to improve customer experience and operational efficiency. Being one of the first e-commerce businesses adopting the OMO model established in Hong Kong, we have incorporated various customised features in our business operation, which we believe sets us apart from other retailers of consumer electronics and home appliances in Hong Kong. For example, the Yoho E-commerce Platform include, among others, display of real-time information about inventory availability in our warehouses and at our retail stores. Our in-house developed automatic pricing system permits us to maintain an efficient inventory turnover and to make sure that our products are offered at competitive prices. In collaboration with various financial institutions and financial technology companies, we have been active in introducing new payment options to online shoppers in Hong Kong, and provide our consumers with diversified payment options. We have also developed in-house a warehouse management system using bar coding and tailored mobile devices for identification and tracking of inventory, which helps guarantee our efficiency in order processing and delivery. In addition, we have in place flexible delivery arrangements, with our delivery network covering not only residential and business addresses but also pick-up points spread across Hong Kong.

We believe the above have enabled us to enhance customer experience, which helped drive the significant increase in our customer base and the scale of operation in the Yoho OMO Business (consisting of (i) online B2C sales through the Yoho E-commerce Platform; (ii) online B2B2C sales to our end customers via Reward Scheme Platforms and third-party online marketplaces; and (iii) offline B2C sales made at our two retail stores) during the Track Record Period.

The overall revenue and net profit of our Group have exhibited continuous and robust growth during the Track Record Period. For FY18/19, FY19/20, FY20/21 and 8M21/22, our total revenue amounted to approximately HK$135.4 million, HK$260.0 million, HK$523.0 million and HK$496.7 million, and we recorded a net profit of HK$12.3 million, HK$18.3 million, HK$28.7 million and a net loss of HK$13.9 million, while the adjusted net profit as non-HKFRS measures were approximately HK$13.0 million, HK$17.6 million, HK$28.7 million and HK$13.6 million respectively. The Yoho OMO Business under the B2C model constitutes our major sales channel and contributed over 80.0% of our total revenue throughout the Track Record Period. In particular, our revenue derived from online retail sales amounted to approximately 57.1%, 67.7%, 79.0% and 79.4% of our total revenue for FY18/19, FY19/20, FY20/21 and 8M21/22 respectively.

We also generate revenue through offline bulk sales under the business-to-business (B2B) model, whereby we mainly supply our products to other retailers of consumer electronics and home appliances, trading companies, and corporate and other institutional customers with bulk purchase orders. For FY18/19, FY19/20, FY20/21 and 8M21/22, our revenue derived from offline bulk sales under the B2B model represented approximately 15.5%, 14.0%, 6.1% and 3.7% of our total revenue respectively.



Source: Yoho Group (02347) Prospectus (IPO Date : 2022/05/26)
Listing Market MAIN
Industry Household Appliances Retail
Background Others
Major Business Area N/A
Corporate Information
Substantial Shareholders Wu Faat Chi (63.48%)
Beyond I Capital Limited (7.14%)
Directors Wu Faat Chi (Chairman and Chief Executive Officer and Executive Director)
Tsui Ka Wing (Chief Operating Officer and Executive Director)
Man Lap (Non-Executive Director)
Ho Yun Tat (Independent Non-Executive Director)
Qian Sam Zhongshan (Independent Non-Executive Director)
Leung Shek Ling Olivia (Independent Non-Executive Director)
Company Secretary Chan Sau Ling
Principal Bankers The HongKong and Shanghai Banking Corporation Limited
Hang Seng Bank Limited
Bank of China (Hong Kong) Limited
Solicitors
Auditors Deloitte Touche Tohmatsu
Registered Office 9A, Bamboos Centre, 52 Hung To Road, Kwun Tong, Kowloon, Hong Kong
Share Registrars Tricor Investor Services Ltd. [Tel: (852) 2980-1333]
Share Registrars Tel No (852) 2980-1333
Internet Address http://www.yohohongkong.com/
Email Address ir@yohohongkong.com
Tel No
Fax No
 
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