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As a subcontractor, we are mainly engaged in site leveling works in Hong Kong. We have over 14 years of experience undertaking site leveling projects in Hong Kong. As a subcontractor, we provide customers with integrated site leveling solutions, which generally include (a) general earthwork (including excavation of soil and rock, disposal of demolition materials, filling and compaction to form a new site or achieve the design structural level for subsequent development); (b) tunneling works (including rock excavation works for the construction of tunnels through drilling and crushing and/or drilling and blasting and/or the construction of associated temporary tunneling support buildings); (c) foundation work (including excavation and side support for the construction of piles for commercial and residential buildings) Engineering and related structures engineering); and (d) road and drainage works (including construction of access roads and drainage systems at construction sites). As part of our ancillary services, we also undertake steel processing and installation of steel work platforms as a subcontractor. Given that (a) we have been undertaking site leveling works as a subcontractor for over 14 years since we began operations in 2001; (b) we have not been included in the list of approved public works contractors or registered with the Building Authority as a registered specialist contractor under the building regulations applicable to general contractors; and (c) most of our direct customers are general contractors with whom we have had stable business relationships for many years, we position ourselves as a site leveling subcontractor. In particular, we are proud of our ability and expertise in undertaking explosives projects. During the track record period, we have completed two site preparation projects involving explosion works, with confirmed total revenue of approximately HK$218,700,000. Most of our direct clients are general contractors for various infrastructure, commercial and residential development projects in Hong Kong. These projects are generally classified as public sector projects and private sector projects. Public sector projects refer to projects where a government or statutory body employs a general contractor, while private sector projects are projects that are not public sector projects. Most of our revenue during the track record period came from public sector projects, which accounted for approximately 95.0%, 99.3% and 73.8% of our revenue for the three years ended March 31, 2016, respectively. As we are not registered on the Register of Approved Public Works Contractors maintained by the Development Bureau, we are not eligible to participate directly in public project tenders. Therefore, we must rely on general contractors on the list of approved public works contractors for such projects, and if we are able to successfully bid for such projects from such general contractors, they will appoint the Group as a subcontractor for such public projects. The ground leveling project is of a non-recurrent nature. As a subcontractor, we were invited to submit our bid, and after a fiercely competitive bidding process, we obtained the project from the general contractor. Our pricing is generally based on a cost addition model, and the bonus range is determined on an individual project basis. We have our own machines and equipment (hydraulic excavators, hydraulic hammers, drilling rigs, large drilling rigs, spray concrete machines, loaders, vibrating rollers, air compressors, electric welding machines and platforms), so there is no need to rely too much on leasing machines and equipment from third parties. We believe our investment in machinery and equipment enables us to undertake site preparation projects of all sizes and complexity to meet anticipated growing customer needs.

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Business Currency:HKD
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