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集信國控檢測遞表港交所,業績波動較大,面臨房地產行業波動風險
格隆匯 06-13 16:25

格隆匯獲悉,近日,廣東集信國控檢測認證技術服務中心股份有限公司(以下簡稱"集信國控檢測”)向港交所遞交招股書,擬在香港創業板(GEM)掛牌上市,華金融資、越秀融資為其聯席保薦人。

招股書顯示,集信國控檢測成立於2000年,提供一系列全面的建設工程檢測檢驗服務,主要包括地基基礎檢測服務、基礎設施及公共道路檢測服務、建築建築材料檢測服務等;另外包括邊坡監測及基坑監測等檢驗服務,主要服務對像為廣東省茂名的客户。

股權結構方面,招股書顯示,上市前的股東架構中,信宜市住房和城鄉建設局下屬事業單位信宜市建設工程質量安全事務中心持股80%;信宜市財政局通過信宜信匯持股20%。

從集信國控檢測營收構成看,公司營收主要來源為檢測服務和檢驗服務。其中,地基基礎檢測服務收入貢獻較大,是公司重要收入來源。

年度收入的組成部分,來源招股書

業績方面,招股書顯示,2021年、2022年和2023年,集信國控檢測的收入分別約為3978.1萬元、1996.6萬元和4150.0萬元;同期淨利潤分別約為1773.7萬元、291.2萬元和1325.4萬元。

全面收益表,來源招股書

毛利率方面,2021年至2023年,公司的整體毛利率分別為75.9%、57.6%及71.8%。

集信國控檢測表示,公司為房地產商、建築公司、國有投資公司等提供建設檢測服務。客户項目數量受宏觀經濟和固定資產投資影響。在2021至2023財年,房地產開發商帶來的收入分別佔59.3%、30.9%和35.8%。未來房地產商仍將是公司的客户。

近年來,部分大型房地產商的流動資金問題可能影響市場增長。2022年全國房地產開發投資從2021年的14.8萬億元降至13.3萬億元,下降10%。這對公司客户和公司的業務、財務狀況及經營業績可能有不利影響,無法確保建築和基礎設施市場能持續增長或避免衰退。

此外,公司表示,所在的行業競爭激烈。粵西有100多家本地建設工程檢測公司,部分競爭對手在服務、市場認可度、運營歷史、品牌及財務實力等方面可能更優。這些對手可能更願意以低利潤換取市場份額,從而具備更強的競爭力及融資能力,提供更有優勢的價格和付款條件。如果公司無法有效競爭,業務、業績和財務狀況將可能受重大影響。

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