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Samfine Creation Holdings Group (SFHG), a Hong Kong-based printing service provider, reported strong financial growth for H1 2024. Revenue increased by 61.3% to HK$81.9 million (US$10.5 million), up from HK$50.8 million in H1 2023. The company turned profitable with a net income of HK$0.8 million, compared to a net loss of HK$3.8 million in the same period last year.
The revenue growth was primarily driven by increased demand for book products and novelty and packaging products. General and administrative expenses rose 9.2% to HK$11.1 million, while selling and marketing expenses increased 37.5% to HK$5.5 million due to higher transportation costs.
Samfine Creation Holdings Group (Nasdaq: SFHG) announced the full exercise of the underwriter's over-allotment option for an additional 300,000 ordinary shares at $4.00 per share, generating extra gross proceeds of $1.2 million. The total offering now comprises 2,300,000 shares with gross proceeds of $9.2 million. The company began trading on Nasdaq Capital Market on October 15, 2024. Proceeds will be used to strengthen printing operations in Hong Kong, expand into international markets (particularly the U.S.), purchase machinery, upgrade production equipment, and provide working capital.
Samfine Creation Holdings Group (Nasdaq: SFHG), a one-stop printing service provider, has announced the closing of its initial public offering (IPO) of 2,000,000 ordinary shares at $4.00 per share. The shares began trading on the Nasdaq Capital Market on October 15, 2024. The IPO raised $8.0 million in gross proceeds.
The company plans to use the net proceeds to strengthen its printing business in Hong Kong, expand market presence in international markets (particularly the U.S.), purchase machinery, upgrade production equipment, and for working capital. Cathay Securities, Inc. acted as the representative underwriter, with Revere Securities and Dominari Securities as co-underwriters. The underwriters have a 45-day option to purchase up to an additional 300,000 ordinary shares at the offering price.
Samfine Creation Holdings Group (Nasdaq: SFHG), a one-stop printing service provider, has announced the pricing of its initial public offering of 2,000,000 ordinary shares at $4.00 per share. Trading is expected to begin on the Nasdaq Capital Market on October 15, 2024, under the symbol 'SFHG'. The offering is set to close on October 16, 2024.
The company plans to use the net proceeds to strengthen its printing business in Hong Kong, expand into international markets (particularly the U.S.), purchase machinery, upgrade production equipment, and for working capital. Underwriters have a 45-day option to purchase up to an additional 300,000 ordinary shares. Cathay Securities Inc. is the representative underwriter, with Revere Securities and Dominari Securities as co-underwriters.
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