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Public company info - CM Hi-Tech Cleanroom Limited , 02115.HK
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CM Hi-Tech Cleanroom Limited, 02115.HK - Company Profile
Chairman Ng Yew Sum
Share Issued (share) 1,400,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Construction & Decoration
Corporate Profile Business Summary: The group is a cleanroom wall and ceiling systems and cleanroom equipment provider based in the PRC and Malaysia. Performance for the year: For FY2017, FY2018, FY2019 and 3M2020, the group’s revenue was approximately RMB138.3 million, RMB177.5 million, RMB206.2 million and RMB26.6 million, respectively. For FY2017, FY2018, FY2019 and 3M2020, the group’s net profit was approximately RMB22.0 million, RMB32.3 million, RMB25.9 million and RMB2.8 million, respectively. the group’s Adjusted Net Profit (non-HKFRS measure) for FY2017, FY2018, FY2019 and 3M2020 were approximately RMB22.0 million, RMB33.7 million, RMB37.4 million and RMB4.7 million, respectively. Business Review The group’s products are used mainly in cleanroom, which is a contained environment installed with cleanroom wall and ceiling panels and equipped with equipment to reduce particulate contamination which may adversely affect the manufacturing or operation processes, and to control other environmental parameters such as temperature, humidity and pressure. Depending on the application, cleanrooms are commonly classified under two sets of standards, namely the FED-STD-209E standard of the U.S. and the ISO 14644-1 Standard, which classify cleanrooms into a number of classes based on the concentration of particle count of specified sizes in the cleanroom. Cleanroom for manufacturing of semiconductor, electronic products, pharmaceutical as well as food and beverage and laboratories may adopt cleanroom of different classes under these two standards. In addition, for cleanroom used for production of pharmaceuticals, healthcare and medical products and food and beverage products, materials used to construct the cleanroom have to comply with the GMP standard on top of the FED-STD-209E standard or the ISO 14644-1 standard. Where harmful chemical and biological agents are expected to appear in a cleanroom, the cleanroom may also be classified into different safety levels according to the BSL standard in terms of its ability to contain such substances and protect personnel from potentially harmful pathogenic exposure. Examples of such cleanroom applications are manufacturing facilities for pharmaceutical products, medical devices, medical consumables and laboratories. The group is able to provide cleanroom wall and ceiling systems (comprising walls, ceilings, doors, windows and air exhaustion structures) and cleanroom equipment (such as fan filter units, air showers and pass boxes) through the group’s comprehensive product portfolio that are highly customisable to meet a wide range of cleanroom requirements under different cleanroom standards. the group also provide installation service for the group’s products if requested by the customers. When installation service is provided in a project, the revenue of such project is recognised over time by stages in accordance to completion. In the case when the group’s products are supplied without installation service, such revenue is recognised at a point in time. Apart from supplying cleanroom products, the group also engage in ancillary businesses including trading of cleanroom products (mainly raised floor systems) and provision of cleanroom preventive maintenance services. The revenue of trading of cleanroom products as recognised at a point in time whilst the revenue of maintenance services is recognised over time by stages during the maintenance period. These ancillary businesses in aggregate accounted for approximately 5.0% to 10.9% of the group’s revenue during the Track Record Period. The group produce cleanroom products that meet the most stringent requirements of the highest class under relevant cleanroom standards, with a wide range of specification options for broad industrial application of lower cleanroom standards. During the Track Record Period, use of the group’s products have been applied to different industries which require cleanroom facilities, ranging from semiconductor and electronics industries to pharmaceutical and life sciences industries. Cleanroom Wall and Ceiling Systems Cleanroom wall and ceiling systems mainly consist of walls, ceilings, doors, windows and air exhaustion structures, which are manufactured with the group’s proprietary design and sold under the group’s “Channel Systems” trademark. the group’s cleanroom wall and ceiling systems are generally FED-STD-209E Standard Class 1 and ISO 14644-1 Class ISO3 compatible, which represent a very stringent standard in the cleanroom industry and is often known as “semiconductor grade of cleanroom”. Meanwhile, these products are designed to be adaptable to specific customer needs and can be adjusted for lower grades of cleanroom standards or for other applications such as data centre. Cleanroom Equipment The group offer cleanroom equipment with principal products such as fan filter units, air showers, pass boxes, HEPA boxes, clean booths/benches, along with various accessories. the group sell the group’s cleanroom equipment under the group’s “Micron” brand. Product Life Span The group’s cleanroom wall and ceiling systems have long product life-span and, under proper care and maintenance, generally do not have to be replaced. According to the group’s Directors’ experience, most of the group’s cleanroom products have a life span of approximately 10 years under proper care and maintenance. New Products The group plan to continue to enhance and customise the group’s product portfolio to cater for the specifications and requirements of different industries and markets. See the paragraph “The group’s Strategies - Continue to invest in research and development to enhance existing products and diversify the group’s product offering” above and the paragraph “Research and Development” below in this section for details. Other Businesses As the group’s ancillary businesses, the group also engage in the trading of cleanroom equipment of third party brands (mainly raised floor systems) and provision of cleanroom preventive maintenance services. These services are ancillary services complementary to the group’s cleanroom wall and ceiling systems and cleanroom equipment business. For FY2017, FY2018, FY2019 and 3M2020, the aggregated revenue generated from such ancillary businesses was approximately RMB6.9 million, RMB9.4 million, RMB14.4 million and RMB2.9 million, representing approximately 5.0%, 5.3%, 7.0% and 10.9% of the group’s total revenue, respectively. The group trade cleanroom products, which comprise mainly trading of raised floor systems and conductive flooring. the group do not manufacture such products and source them from two reputable suppliers. Raised floor systems products that the group trade are in compliance with ISO Class 3 cleanroom grade of critical cleanliness requirement. the group supply solid, perforated and grating flooring systems as well as electrostatic dissipative and conductive PVC tiles, which attract and route static electricity charges away from valuable electronic equipment to enable compliance with electrostatic discharge requirement for cleanroom used for producing electronic products. The group provide preventive cleanroom maintenance services for cleanroom facilities. the group’s preventive maintenance services generally involve checking, cleaning and replacement of cleanroom equipment, including filters and blower fans, electronic control panels, doors and door interlocking systems, lighting and light bulbs and internal casing. the group also supply consumable parts for replacement. the group may provide maintenance service for cleanrooms, irrespective of whether they are installed by us. SALES AND MARKETING The group sell and market the group’s products and services directly to the group’s customers, who are mainly main contractors and cleanroom design and engineering companies. According to the F&S Report, cleanroom standards such as FED-STD-209E, ISO 14644-1 and GMP are widely adopted in different countries. As the group’s products comply with such standards, they can be used in cleanroom facilities adopting such standards, irrespective of their geographical locations. Therefore, when the group’s customers who are main contractors and cleanroom design and engineering companies obtain new contracts in different locations, the group may be invited to participate in the new cleanroom project and expand the group’s business to new geographic locations. As at 31 March 2020, the group’s sales team comprised of six sales staff, a majority of whom have cleanroom engineering background. the group operate three sales offices in the PRC, Malaysia and the Philippines to capture business opportunities and handle orders obtained in their respective markets. the group’s Philippines office is mainly responsible for local enquiries, while the group’s PRC office mainly serves the PRC market during the Track Record Period. Because of considerations such as pricing, costs, logistics and relationship with customers, the group’s PRC office had also served customers in Vietnam and Saudi Arabia during the Track Record Period, but the PRC local market remains to be its focus. the group’s sales team in the group’s Malaysia sales office was responsible for the Malaysian market and other Southeast Asian and overseas markets, such as Thailand, Indonesia, India, Europe and the Middle East. the group believe such delineation of the group’s sales network benefits us with flexibility in providing sales and technical supports to the group’s customers and establish local presence in important markets geographically. the group’s sales representatives are responsible for (i) sales and promotion of the group’s products and services, (ii) preparing marketing materials, (iii) following up on referrals, (iv) managing customer relationship, (v) handling customers’ enquiries and orders, (vi) formulating sales plans and (vii) recovering outstanding payment from customers. Marketing and Business Development The group mainly market the group’s products through distributing marketing materials (including product catalogues and contract reference lists) during client meetings and visits. As cleanroom facilities owners and main contractors generally prefer to deal with suppliers that they had prior business experience with, and invite their shortlisted pre-approved suppliers to participate in tenders for new cleanroom contract, the group take initiative to apply for and maintain the group’s qualified supplier status with major cleanroom facility owners and contractors. The group obtain new cleanroom tender information, price quotations and other business opportunities primarily through the following sources: (i) announcement of open tenders or new factory construction contracts published on media, (ii) market information collected from cleanroom design and engineering companies, and (iii) most frequently, referrals by the group’s regular customers, who have satisfactory contract experience with us and give word-of-mouth recognition of the group’s brand reputation, quality consistency and service standard and therefore invite us to tender or quote for their new projects. In addition, the group also leverage various customer facing occasions, including handling requests for quotation from potential customers, customer visits and providing cleanroom preventive maintenance services, to explore new business opportunities. New business opportunities will be referred to and followed up by the group’s sales offices. After identifying potential contracts, the group will appoint a specific sales representative according to the characteristics of the contract to contact relevant parties, such as the facility owner and/or their main contractors, consultants, so as to promote the group’s products and services, who will also be the point of contact between us and the group’s customers and follow up with the contracts throughout the rest of the sales and construction process until completion. Prospects: The group intend to implement the following business strategies to expand the group’s market share and profitability: (i) Strategies for the PRC market – Increase the group’s production capacity and capabilities for cleanroom wall and ceiling systems and expand the group’s cleanroom equipment business to the PRC market to diversify the group’s products offering; (ii) Strategies for the Southeast Asia market – Expand and relocate the group’s production facility in Malaysia to cater for the group’s growth in Southeast Asia and other countries; (iii) Continue to invest in R&D to enhance existing products and diversify the group’s product offering; and (iv) Expand the group’s sales and marketing network and enhancing the group’s engineering and business support functions.

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