Everbright’s portfolio company Kinergy completes its IPO and listed on mainboard of HKEX
18 July 2018, China Everbright Limited (“Everbright”, stock code: 165.HK) is pleased to announce that its portfolio company Kinergy Corporation Ltd. (“Kinergy”) is officially listed on the mainboard of HKEX today with its stock code 3302.HK. After the listing, Everbright holds 31.22% stake of Kinergy, is one of its controlling shareholders.
Shares of Kinergy were actively traded with an opening price of HK$1.31 per share and closed at HK$1.23 per share, which represented an increase of 5.1% compared with the offer price. A total of approximately 55.4 million shares were traded, with an aggregate turnover of approximately HK$67.8 million.
Established in 1988, Kinergy Corporation Ltd. is a well-recognised contract manufacturer in manufacturing equipment, machines, sub-systems, precision tools, spare parts and components in the semiconductor back-end equipment industry. The company’s business can be categorized into two segments, namely electronic manufacturing service (“EMS”) and original design manufacturing (“ODM”). In terms of EMS business, the company manufactures sub-systems, complete machines and components for the semiconductor process equipment industry; whilst ODM business segments comprise the design, manufacturing and sale of automated machines, precision tools and spare parts under the company’s owned brand, “Kinergy” for the semiconductor industry. The company’s products are generally applied to form a part of semiconductor processing equipment (“SPE”) for the manufacture or process semiconductors, its wire bonder handling system (an essential sub-system in the production of semiconductor process equipment) account a market share of approximately 49.6% in 2017 .
Mr. Lim Kuak Choi Leslie stated, “Today marks an important milestone for the Group. Being a reputable company with proven manufacturing capabilities, the Group will continue to capture ample business opportunities in the global SPE market, and target at the fast-growing SPE market in the PRC. We will expand our production capacity, recruit additional manpower as well as strengthen research and development to keep abreast of the dynamic changes in technology. In the meantime, we will further enhance market penetration in Japan, Europe and the United State to diversify our customer base. In addition, the Group is aiming to broaden engineering and technical knowledge via the means of mergers and acquisitions of profitable companies. We will strive to consolidate our leading position in the market to achieve sustainable growth and bring fruitful returns to its shareholders.”
Everbright has been focusing on the investment of semiconductor industry since 2017, by initiating the investment or through merger and acquisitions in high-quality projects in the global semiconductor industry. By leveraging on the strong capital strength and its industrial capabilities, Everbright has built a first-class platform for the investment and integration of the semiconductor industry.
In the future, Everbright will leverage on its advantages in capital and resources and continue to invest in the semiconductor industry, accelerate the rapid development of semiconductor industry in China.
