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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
Summary
We are an aluminum alloy automobile wheel manufacturer focusing on the aftermarket which is the market for parts and accessories used in the repair or maintenance of an automobile. We manufacture and sell different types of aluminum alloy automobile wheels to our customers. According to Frost & Sullivan, in terms of exported value of aluminum alloy automobile wheel, we took up approximately 1.0% market share in the aluminum alloy automobile wheel market in PRC in 2021. For the years ended December 31, 2019 and 2020, our revenue decreased from approximately RMB374.0 million to approximately RMB362.2 million, primarily due to the COVID-19 pandemic which adversely affected some of our overseas markets. For the year ended December 31, 2021, our revenue increased to approximately RMB440.4 million, indicating a strong recovery in our results of operations since the COVID-19 pandemic. For the five months ended May 31, 2021 and 2022, our revenue decreased from approximately RMB159.5 million to approximately RMB149.8 million, mainly due to the regional outbreaks of COVID-19 in the PRC in early 2022 which temporarily affected our business operation, in particular, the delivery of our products to overseas markets due to the restrictions on transportation to the port area. For the five months ended May 31, 2022, our revenue from the PRC and overseas markets were RMB59.6 million and RMB90.2 million, respectively, representing approximately 39.8% and 60.2% of our total revenue, respectively.

Our principal operating subsidiary, Buyang Wheel was incorporated in 2007. Our manufacturing facility is located in Yongkang City, Jinhua City, Zhejiang Province, PRC, and is leased from Buyang PRC, which is controlled by our Controlling Shareholders. As of May 31, 2022, we self-owned and operated 31 gravity casting machines, 12 low pressure casting machines, 52 CNC lathes, 22 machining centers, three pretreatment spray equipment, six powder spray machines and ten liquid spray machines and had a maximum designed production capacity of approximately 1.2 million units of aluminum alloy automobile wheel per year.

During the Track Record Period, substantially all of our revenue is generated from the sale of our aluminum alloy automobile wheels to the aftermarket. Our customers are mainly aluminum alloy automobile wheel wholesale traders and retailers in the aftermarket. We had 204, 169, 134 and 97 customers located in the PRC for the years ended December 31, 2019, 2020 and 2021 and the five months ended May 31, 2022, respectively and had 102, 94, 67 and 44 customers located in 51, 52, 37 and 26 overseas countries and territories for the corresponding periods. The total number of our customers decreased continuously from 306 in the year ended December 31, 2019 to 263 in the year ended December 31, 2020 and further to 201 in the year ended December 31, 2021 primarily due to our strategy of prioritizing sales of our products to our major wholesale trader customers who placed large batch of orders with us. As a result, due to the limitation of our production capacity, we lost some wholesale trader and retailer customers as we were unable to take up their orders. The total number of our customers decreased from 150 in the five months ended May 31, 2021 to 141 in the five months ended May 31, 2022 primarily due to the impacts on export of our products to overseas markets caused by the regional outbreaks of COVID-19 in the PRC in early 2022, resulting in decrease in sales to wholesale trader customers targeting overseas markets.



Source: Buyang International (02457) Prospectus (IPO Date : 2022/11/29)
Listing Market MAIN
Industry Tires & Rubber
Background Others
Major Business Area N/A
Corporate Information
Substantial Shareholders Xu Buyun & Associates (75.00%)
Directors Xu Buyun (Chairman and Non-Executive Director)
Xu Jingjun (Deputy Chairman and Executive Director)
Ying Yonghui (General Manager and Chief Executive Officer and Executive Director)
Hu Huijuan (Executive Director)
Zhu Ning (Non-Executive Director)
Chen Jingeng (Independent Non-Executive Director)
Yeung Man Simon (Independent Non-Executive Director)
Ren Guodong (Independent Non-Executive Director)
Company Secretary Cheung Yuet Fan
Xu Yuelian
Principal Bankers Bank of China Limited
Solicitors King & Wood Mallesons
Auditors KPMG
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.bywheel.com
Email Address byw@buyanggroup.com
Tel No (86 579) 8727-0871
Fax No (86 579) 8727-1951
 
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