New stock announcement | Collection Trust National Control (08629) will open for subscription from August 26th to September 3rd, 2024. It is expected to be listed on September 6th.

Jixin Guokong (08629) is scheduled to go public from August 26 to September 3, 2024. The company plans to sell 10.7 million shares, with 10% for public offering, 90% for preferential allocation, and an additional 15% for over-allotment option. The offer price will not exceed HK$10.4 per share and is expected to be no less than HK$8.6 per share. Trading of the shares is expected to begin on the Stock Exchange on September 6, 2024 (Friday). The company is mainly engaged in construction engineering testing and inspection services, mainly serving clients in Maoming, Guangdong Province, China. Established in 2000 and headquartered in Maoming Xinyi City, the company has achieved significant development based on revenue from these services. The company offers a range of construction engineering testing services, covering various types of testing processes in the industry. This includes foundation testing, infrastructure and public road testing, building material testing, and structural testing. In addition, the company also provides services such as slope monitoring and foundation pit monitoring in construction engineering inspection. Starting from May 2024, as part of the company's expansion plan, it continues to focus on construction engineering testing and inspection services as its main business, while diversifying its services by providing food testing services, which contributed 12.3% of total revenue in the first 6 months of 2024. The company's clients mainly include participants in China State Construction Engineering Corporation, both private and public sector entities such as real estate developers, construction companies, state-owned investment companies, relevant Chinese government agencies, and government administrative departments. These clients rely on the company's expertise to ensure the quality, safety, and compliance of their construction or infrastructure projects. The testing and inspection services provided by the company focus mainly on private commercial and residential construction projects, as well as public building and infrastructure projects. The company is committed to providing quality testing and inspection services to its clients. Assuming the offer price is HK$9.5 per share and the over-allotment option is not exercised, the company estimates that the net proceeds from the share sale will be approximately HK$54.4 million. The company plans to use the net proceeds from the share sale as follows: 27.5% for expanding construction engineering testing services to acquire comprehensive qualifications under the "Construction Engineering Quality Testing Institution Qualification Standards" and strengthen the company's existing construction engineering testing and inspection services, 27.7% to consolidate the company's current market position in Maoming and expand its service range to third to fifth-tier cities in western Guangdong, 37.4% to diversify the company's testing and inspection services beyond construction engineering to include food and agriculture, transportation, and fire safety, 5.5% to upgrade the company's ERP system, and 1.9% for general operating funds.