New Stock News | Golden Leaf International Group (08549) completes its initial public offering, with the subscription amount reaching HK$58.7 billion, oversubscribed 9030 times.

Local electrical and mechanical engineering contractor Jin Ye International Group (08549) launched its IPO from September 30 to October 6, becoming the first company planning to list on the Hong Kong Stock Exchange GEM in 2025. The latest round of subscriptions has ended. As of noon on October 6, Jin Ye International has raised HK$5.87 billion in margin financing from brokers, based on a public offering size of HK$65 million, oversubscribed 9030 times, making it the highest oversubscribed "IPO oversubscription king" in history. Jin Ye International plans to issue 100 million H shares, with a public offering of 10%, at a price range of HK$0.45 to HK$0.65 per share, raising HK$45 million to HK$65 million, with a minimum lot size of 5,000 shares and an entry fee of HK$3282.77. Jin Ye International is expected to list on the Hong Kong Stock Exchange GEM on October 10, with the exclusive sponsor for the IPO being its financing underwriter. According to the prospectus, Jin Ye International is an established contractor specializing in electrical and mechanical engineering, with a history dating back to 2006. The group focuses on supplying, installing, and maintaining HVAC, power, and water supply systems, mainly undertaking private projects as the main contractor. In the past two years, revenue from private projects accounted for over 97%, with main contractor revenue accounting for over 86%. The types of electrical and mechanical contracts provided include lump sum, maintenance, and periodic contracts. Jin Ye International has a strong track record in the Hong Kong electrical and mechanical engineering industry. During the reporting period, the group has completed over 2,000 projects of various scales, with 187 projects on hand as of July 31, 2025. Financially, for the fiscal year ending in March 2025, Jin Ye International's annual revenue increased by 26% year-on-year to HK$154 million, with a net profit of HK$14.07 million, representing a 36% increase. However, the company expects a significant decrease in net profit for the fiscal year 2025/26, mainly due to the impact of listing expenses. Jin Ye International stated that approximately 56.1% of the net proceeds will be used for pre-project costs, around 32.6% for hiring new employees and leasing additional office space, approximately 1.3% for upgrading the "GL ERP" system, and the remaining funds for general operating expenses.