On July 15, the Hong Kong Stock Exchange welcomed the listing of three new stocks, in addition to Minimally Invasive Brain Science, Bowei Wisdom (1204) and Deutsche Bank World (2418) also traded for the first time today.
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This article is for informational purposes only and does not constitute any trading advice
Bovey Wisdom
Headquartered in Macau, Bowei Wisdom is a leading company in the Macau IT solutions market.
Throughout its more than 10-year history, the Group has been committed to providing customers with reliable, end-to-end and high-quality enterprise IT solutions. The Group is well known for designing, building and building comprehensive IT solutions for clients in a wide range of industries in Macau. In addition, the Group is engaged in the distribution and resale of hardware and software. The Group carries out distribution business in Hong Kong and resale business in Macau. The Group's client portfolio includes world-renowned companies or organisations in telecommunications, media and technology, gaming and hospitality, as well as the public sector.
According to Frost & Sullivan, the market size of IT solutions in Macau will be valued at MOP1,618.5 million in 2021, while in terms of revenue, the Group ranks first in the IT solutions market in Macau, accounting for 25.8% of the market share in 2021. During the track record period, the Group was one of the few IT service providers in Macau with the technical capabilities and resources to provide comprehensive end-to-end solutions to customers in Macau.
Previously, bowei wisdom (01204.HK) announced that the company offered 125 million shares globally, including 12.5 million shares offered in Hong Kong, 112.5 million shares in the international offering, and another 15% over-allotment shares; The offer price has been set at HK$1.08 per offer share, with China Tonghai Corporate Finance as the sole sponsor.
The Hong Kong Offer Shares have been oversubscribed. Bowei Wisdom has received a total of 6721 valid applications, equivalent to about 10.69 times the number of shares initially available for subscription in Hong Kong under the Hong Kong Public Offering. The number of international placing shares has been informed of the subscription, which is equivalent to approximately 1.03 times the number of international placing shares initially available for subscription under the international placement.
Based on the offer price of HK$1.08 per share and under the Cornerstone Investment Agreement, Cornerstone Investors have subscribed for 27.776 million Offer Shares, representing approximately 5.56% of the issued share capital following the completion of the Global Offering.
It is reported that in the Pre-IPO stage, Dahengqin and Jiayou each purchased and subscribed for their shares as pre-IPO investors of Bowei Wisdom. Dahengqin, on the other hand, is a wholly-owned subsidiary of Zhuhai Dahengqin Group (90% and 10% held by the State-owned Assets Supervision and Administration Commission of Zhuhai and the Department of Finance of Guangdong Province, respectively), which focuses on the management of state-owned assets of the government in the Hengqin Guangdong-Macao Deep Cooperation Zone; Ka Yu is an investment company owned by the Chui family (Mr. Chui Sai Ping and his two sons), one of the "Four Great Families of Macau".
According to the prospectus, Bowei Wisdom holds 62.28% of the shares in the post-listing shareholder structure by the controlling shareholder, Mr. Zhou Jiajun; Zhuhai Dahengqin Group holds 8.97% of the shares, and the Cui family holds 3.75% of the shares; Public shareholders hold 25% of the shares.
Subsequently, Bowei Wisdom introduced Mr. Wu Zaiquan as a cornerstone investor and subscribed for about HK$30 million in shares in the company. Mr. Ng has over 30 years of extensive experience in real estate development in Macau and the PRC, and is currently the Chairman of Kwon Cheong Holdings Limited and Kwon Cheong Estate Agency Company, the Vice Chairman of the Council of the City University of Macau, the Vice Chairman of the Council of The Hokkien School of Macau, the Vice Chairman of the Council of the Macau Kwong Ping School, the President of the Macao Federation of Real Estate Associations and the Macau Wisdom and Humanities Association.
On the first day of Bowei Wisdom's public offering, Mr. Ma Zhida, a member of the Ma family and a well-known local entrepreneur who is one of the "Four Great Families of Macau", also decided to join the company as an anchor investor. Mr. Ma Zhida has long been involved in investment in the field of science and technology, and has deeply cultivated the Hengqin Guangdong-Macao In-depth Cooperation Zone and participated in the common development of Guangdong and Macao.
Deutsche Bank world
Deutsche Bank of The World provides a variety of value-added services to participants in the commercial vehicle industry chain, including logistics and supply chain services, financial services and connected vehicle data services. Commercial vehicles mainly include trucks, pickup trucks, trailers, buses and vans.
Founded in 2005 by Shaanxi Automobile Holding Group, Deutsche Bank Worldwide provides logistics and supply chain services for commercial vehicles manufactured by Shaanxi Automobile Holding Group. According to the sales volume of heavy commercial vehicles in 2021, Shaanxi Automobile Holding Group is the fourth largest commercial vehicle group in China, with a market share of 13.8% in 2021. Since then, the Group has further developed its business to provide a wide range of services covering the entire commercial vehicle industry chain.
Previously, Deutsche Bank Ofs (02418.HK) announced that the company offered 543 million shares globally, of which 22.9005 million shares were offered in Hong Kong, about 520.1 million shares were offered internationally, and 15% of the over-allotment shares were also offered; The final offer price has been set at HK$1.80 per H share, with CITIC Construction Investment International as the sole sponsor.
Deutsche Bank of America has entered into a Cornerstone Investment Agreement pursuant to which, subject to certain conditions, Cornerstone Investors have agreed or induced their Designated Entities to subscribe for a total of US$26 million (or approximately HK$204.1 million) of the Number of Offer Shares available for purchase at the Offer Price. Cornerstone investors include Shaanxi Tide Automotive Air Conditioning Co., Ltd., Xi'an Yuanda Electronic Equipment Co., Ltd. and Ruiming Electronics Co., Ltd., a wholly-owned subsidiary of Ruiming Technology (002970.SZ).
With the steady growth of car ownership and the rise of new energy vehicles, the scale of the automotive aftermarket continues to expand. According to the "White Paper on the Automotive Aftermarket Maintenance Industry", the industry size of China's automotive maintenance market will be about 0.8 trillion yuan in 2020, and the industry size is expected to reach 1.2 trillion yuan by 2025.
Deloitte also released relevant data, and it is expected that the size of the mainland automotive aftermarket will reach 1.7 trillion yuan in 2025. CICC believes that China's auto aftermarket is currently one of the largest in the world.
In fact, the service of the whole industry chain of vehicles and commercial vehicles involved in Deutsche Bank Worldwide is one of the important businesses in the aftermarket industry.
According to the Frost & Sullivan Report, the mainland commercial vehicle manufacturing background car networking services industry is highly concentrated in the top five service providers, which account for 92.3% of the market share in 2021.
If the number of heavy commercial vehicles connected by the Internet of Vehicles platform is counted, the market share of Deutsche Bank Tianxia in 2021 will be 23.3%, ranking first among all commercial vehicle manufacturers in China. In addition, in 2021, the number of commercial vehicles on the Internet of Vehicles platform ranks third among the domestic commercial vehicle networking enterprises, Deutsche Bank ranks third.
According to the prospectus, from 2019 to 2021, about 83.1%, 86.9% and 77.3% of deutsche Bank Ofex's total revenue will be contributed by Shaanxi Automobile Holding Group (hereinafter referred to as Shaanxi Automobile Holdings) and related customers. Shaanxi Automobile Holdings is the controlling shareholder of Shaanxi Automobile Group, holding 67.06% of its shares.
Standing on the shoulders of Shaanxi Automobile Group, Deutsche Bank's aftermarket business has produced a certain market influence. According to the Frost & Sullivan report, in terms of commercial vehicle logistics and supply chain services, Tonghui, a wholly-owned subsidiary of Deutsche Bank Ofs, ranked First among industry enterprises in the western region in terms of revenue in 2021.
In terms of supply chain financial services, deutsche Bank Financial Leasing, a wholly-owned subsidiary of Deutsche Bank Ofs, ranks fourth among all commercial vehicle manufacturer-backed financial leasing enterprises in China in terms of the number of commercial vehicle rental units in 2021.
The scale of the automotive aftermarket is more than one trillion yuan is the general trend of the industry, and under the background of the continuous development of the infrastructure industry and the increasing availability of domestic logistics in the past two years, the commercial vehicle aftermarket business will run out of a number of leading enterprises.