About LING YUI Company

We are Hong Kong subcontractors engaged in providing foundation works (including excavation and side support works, pile cap works and pile construction), site leveling works and other supporting services (such as road and drainage works for private sector foundation projects). During the track record period, we provided foundation works through Mingli Foundation Works (mainly acting as the main subcontractor in our projects). Our Group's clients mainly included the chief contractors of private foundation projects in Hong Kong. According to the Ipsos report, the main subcontractor of the project indicated that the majority of the bidders were awarded by the various general contractors. The subcontractor is generally responsible for supporting and assisting the general contractor in managing the project, including overall planning and project management of the project plan, and supervising the site works carried out by its own direct workers and subcontractors. As a subcontractor, we also undertake specific parts of the foundation work assigned by the general contractor. During the track record period, we completed 32 projects with confirmed revenue of approximately HK$245.1 million. At the last practical date, we had a total of 10 projects under construction and received contracts totaling approximately HK$411.9 million. The project at hand is expected to be completed between June 2017 and June 2018. For more details about our projects, please refer to the “Projects” section of this section. For the years ended 2015, 2016 and March 31, 2017, the Group generated revenue of approximately HK$74.3 million, HK$120.5 million and HK$219.3 million respectively. The increase was mainly due to an increase in large-scale foundation projects undertaken during the track record period. Our net profit for the same period was approximately HK$18.2 million, HK$18.5 million and HK$31.0 million respectively. We have our own machinery and construction equipment that can carry out all kinds of foundation work. Our own machinery and construction equipment include excavators, hydraulic crushers, air compressors and generators. We believe that the Group's investment in machinery and construction equipment puts us in a position that can handle foundation works of various scales and can meet the anticipated growing needs of Hong Kong's foundation and site leveling industry in the foreseeable future. For the year ending 2015, 2016 and March 31, 2017, we purchased machinery and construction equipment worth approximately HK$10.8 million, HK$3.3 million and HK$12.4 million respectively. For other information on the Group's machinery and construction equipment, please refer to the “Machinery and Construction Equipment” section of this section.