It is reported that the company was established in Singapore in 1988 as a contract manufacturer specializing in the production of equipment, machinery, subsystems, precision tools and components for the semiconductor industry. The products are mainly used in semiconductor processing equipment (ie, equipment used to manufacture or process semiconductors). The original design manufacturer and the semiconductor processing equipment are purchased by the user. The company's products are generally used as components of semiconductor processing equipment for the production of semiconductors or for the production or processing of semiconductors. During the business record period, most of the revenue comes from the manufacture of wire bonding systems (ie An important subsystem of the semiconductor back-end equipment wire welder. According to industry reports, in terms of revenue, in the global wire welder processing system contract manufacturing industry, the company is the world's largest wire welder processing system contract manufacturer, 2017 The market share is approximately 49.6%.
According to financial information, in the three financial years 2015-2017, the revenues were approximately 107 million, 107 million and 129 million Singapore dollars respectively. The annual profit was 11.234 million, 3.096 million and 8.032 million Singapore dollars respectively.
Assuming that the Offer Shares are HK$1.14 per share and the Over-allotment Option is not exercised, the estimated global offering is approximately HK$208 million. About 40.4% is for expansion of production capacity, 29.3% for development and acquisition of engineering and technical knowledge, and 17.6% for expansion. Marketing activities in Japan, Europe and the United States, 11.7% for R&D and 1% for general working capital.
In addition, the company has entered into a cornerstone investment agreement with a number of cornerstone investors. The Cornerstone Investors have agreed to subscribe for a number of Offer Shares at the Offer Price of HK$84.2 million. Among them, Tongbai Capital, Huixin Capital China and The subscription amount of Yuan Holdings Limited was HK$39.2 million, HK$25 million and HK$20 million respectively.