Has a LED company listed on the first day, the stock rose nearly 97%

Yesterday (16 days), and a LED listed company. But this is not landing the Shenzhen Stock Exchange, the Shanghai Stock Exchange is not.

The LED lamp products manufacturer and exporter of Ho bright Global Limited yesterday successfully landed the Hongkong stock exchange gem. On the first day of listing, rose 96.67% to 0.59 yuan. 2016 months, the first company to apply for listing, but failed.

According to statistics, Ho is a global light industry has experienced more than 10 years of LED lighting manufacturers and exporters, founded in 2008, headquartered in Hongkong, the production base is located in Guangdong of Dongguan. Before 2014, Ho bright products for all around the world for LED decorative lamp series festive decorations. However, because the decoration product is seasonal, smooth fluctuations in performance, and increase revenue sources, the company started producing LED lamp for indoor lighting in fiscal year 2016. As of fiscal year 2016 April 30th, LED decorative lamp and LED lamp revenue accounted for 47.9% and 52.1%.

The main customers for Ho bright global retailers and trading company, its products are mainly sold to North America, Europe and Asia Pacific customers. In fiscal year 2016, the company from Canada, mainland China, Taiwan and the United States China revenue accounted for 29.3%, 28.6%, 27.4% and 13.6%.

In recent years, global revenue bright ho has ups and downs, but net profit for growth. The 2015-2016 fiscal year, the company's earnings were $139 million (units) and 121 million, year-on-year decline of 12.7%. During the period of its net profit was 8 million 613 thousand and 11 million 969 thousand, year-on-year growth of 39%. By the end of 2015 and the 6 months ended October 31, 2016, the company's earnings were 61 million 503 thousand and 70 million 289 thousand, net profit was 4 million 475 thousand and 5 million 913 thousand, were increased.

In the 2016 fiscal year, revenue decline, net profit of the global light ho did not fall, mainly due to gross margin growth. On the one hand, the strategy of the company to reduce the maximum level of customers from the lower margin of the order. On the other hand, the new expansion of the company's LED lighting business gross margin is relatively high. The company's fiscal year 2016 gross margin reached 31%, compared to fiscal year 2015 increased by 4.9 percentage points.

Hao bright the public offering of 200 million shares in the global offering of shares, according to the offer shares will receive the proceeds net is estimated to be approximately HK $30 million 100 thousand. The company currently intends to the net proceeds used in the following applications: about 55% for the upgrading of production facilities; about 25% for the repayment of short-term loans and financing lease; about 5% for the expansion of product portfolio and enhance product development capabilities; about 5% for increased sales staff and expand sales channels; and 10% for the group's working capital.

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