Futu News December 17th, the news this Friday. $CHERVON (02285.HK)$Announcement: The company will open for subscriptions from December 17th to 22nd, planning to issue 71.916 million shares, including 7.1916 million shares for public offering and 64.7244 million shares for international offering, with an issuance price per share of HK$37.6-43.6, in lots of 100 shares, expecting to be listed on December 30th.
Quanfeng Holdings is a global supplier of power tools and outdoor power equipment (OPE), offering a full range of products under well-known brands, custom-made to meet the diverse needs of global end-users.
The target customers for the company's power tools are industrial/professional and consumer end users, while the target customers for OPE products are high-end and mass market end users. Quanfeng Holdings currently owns five distinctive and widely recognized brands including EGO, FLEX, SKIL, Dayou, and Xiaoqiang, covering major regions and niche markets.
According to a Frost & Sullivan report, based on the 2020 revenue, the company ranks 13th in the global power tool and OPE market, accounting for approximately 1.9% market share. During the same period, its proprietary product EGO ranked third in the global electric OPE market.
Regarding the financial situation, the company's income has grown significantly during the historical period, and its profitability has improved significantly. From 2018 to 2020, the company achieved revenues of 0.691 billion US dollars, 0.844 billion US dollars, and 1.201 billion US dollars respectively, with a compound annual growth rate of...