IPO Plus - IPO

Name▼ / Code▼	Industry	Offer Price	Lot Size	Entry Fee	Closing Date	Grey Market Date▼	Listing Date▲
Herbs Generation 02593.HK	Health Care Supplies	3.75-4.15	800	3,353	2024/12/16	2024/12/18	2024/12/19
Xiaocaiyuan 00999.HK	Restaurants	8.5	800	N/A	2024/12/17	2024/12/19	2024/12/20
Shenzhen Dobot 02432.HK	N/A	18.8-20.8	200	4,202	2024/12/18	Data is not available	2024/12/23

Name▼

Code▼

Industry

Offer Price

Lot Size

Entry Fee

Closing Date

Grey Market Date▼

Listing Date▲

Herbs Generation
02593.HK

Health Care Supplies

3.75-4.15

800

3,353

2024/12/16

2024/12/18

2024/12/19

Xiaocaiyuan
00999.HK

Restaurants

8.5

800

N/A

2024/12/17

2024/12/19

2024/12/20

Shenzhen Dobot
02432.HK

N/A

18.8-20.8

200

4,202

2024/12/18

Data is not available

2024/12/23

Summary

We are the fourth largest licensed money lender in Hong Kong in respect of the overall unsecured loan market in terms of revenue in 2022. Our market share in the entire unsecured loan market and the unsecured loan market of licensed money lenders in Hong Kong, in terms of revenue is approximately 0.15% and 3.6% in 2022, respectively. We started our journey in 2006, and strive to make credit accessible to all, and are dedicated to ensuring that our borrowers receive the best experience when borrowing from us. Since then, we have fostered creativity and innovation in our entrepreneurial endeavors. In 2015, we introduced Video Teller Machines or VTMs, which are digital teller machines that provide loan drawdown and repayment services. We also launched our online lending portal, and are committed to maintaining high ethical standards and technologically advanced credit assessment models and risk management systems. In today’s connected world, we believe that traditional money lenders are struggling to keep pace with the speed of technological advancements in a digitalized world, resulting in the need for smart lending businesses supported by technology applications. We pride ourselves on providing highly automated, transparent, efficient, and digital borrowing experiences to our borrowers. Our Business* Our loan products are tailored to meet the needs of subprime borrowers who face financial hardships, emergencies or unexpected expenses. Our loan products can be classified into three categories: ‧ Unsecured Property Owner Loans: unsecured loans offered to borrowers who are property owners in Hong Kong, mostly owners of HOS Properties, without the need to provide any collaterals; ‧ Personal Loans: unsecured loans offered to individuals, including “7x24 AI Loans”; and ‧ SME Loans: unsecured loans offered to SMEs, with a personal guarantee typically provided by a director or a shareholder of the SME borrower. Our loan receivables amounted to HK$986.0 million, HK$844.5 million, HK$913.8 million and HK$948.2 million as of December 31, 2020, 2021 and 2022 and May 31, 2023, respectively. In addition, our net interest income was HK$267.7 million, HK$234.1 million, HK$211.0 million and HK$95.0 million in 2020, 2021 and 2022 and May 31, 2023, respectively. Our net interest income was adversely affected by our more prudent credit assessment policy since the COVID-19 outbreak; and the deterioration of Hong Kong economy and imposition of social distancing measures and travel restrictions caused by the persistence of COVID-19 throughout most of the Track Record Period. Our profitability (i.e. net interest margin) was also adversely affected by the decrease in average effective interest rate of our loans, and the increase in effective interest rate of our borrowings. Our bad debt ratio increased from 2020 to 2021, decreased in 2022, and increased in 5M2023 (on an annualized basis). Our delinquency ratios demonstrated an upward trend during the Track Record Period. For details, see “— Net interest margin” and “— Credit performance of our loans” below. Our business is built on deep industry expertise in Hong Kong’s licensed money lending market and risk management. We implement a comprehensive credit risk management methodology to control our credit risk exposure throughout the loan cycle. We have also integrated various technologies into our business operation to achieve digitalization and automation across the lending process, including loan application, credit review and approval, drawdown and post-drawdown. The deployed financial technologies, inter alia, blockchain technology, cloud computing, big data analytics, machine learning technology, and business process automation technology, are technologies adopted and implemented at various stages of our business process. On the front-end, we leverage various technology tools to automate and digitalize our credit cycle from loan application to loan repayment, which continuously enhance user experience. Meanwhile, on the back-end, we leverage established technologies, such as AI, blockchain and business process automation technology, to automate and streamline our risk management systems and business process. Our K Cash GO Platform is built on a hybrid cloud environment which supports all these technologies, allowing us to achieve optimal operational efficiency. Source: K Cash (02483) Prospectus (IPO Date : 2023/11/27)
Listing Market	MAIN
Industry	Consumer Finance & Money Lending
Background	Others
Major Business Area	N/A

Corporate Information

Substantial Shareholders	Konew Group Limited (75.00%)
Directors	Lee Sheung Shing (Chairman and Non-Executive Director) Lee Kun Tai Steven (Chief Executive Officer and Executive Director) Wong Cheuk Sze (Chief Operating Officer and Executive Director) Chan Wing Sze (Non-Executive Director) Kan Pui Yan (Non-Executive Director) Lee Pik Tsong (Non-Executive Director) Hung Wai Man (Independent Non-Executive Director) Leung Ka Cheung (Independent Non-Executive Director) Mak Wing Sum Alvin (Independent Non-Executive Director)
Company Secretary	Lai Siu Kuen
Principal Bankers	DBS Bank (Hong Kong), Limited The Bank of East Asia Limited
Solicitors	King & Wood Mallesons
Auditors	PricewaterhouseCoopers
Registered Office	17th Floor, Wheelock House, 20 Pedder Street, Central, Hong Kong
Share Registrars	Tricor Investor Services Ltd. [Tel: (852) 2980-1333]
Share Registrars Tel No	(852) 2980-1333
Internet Address	http://www.kcash.hk
Email Address	[email protected]
Tel No	(852) 2111-1211
Fax No

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