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Public company info - Unity Enterprise Holdings Limited , 02195.HK
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Unity Enterprise Holdings Limited, 02195.HK - Company Profile
Chairman Yeung Wing Sun
Share Issued (share) 1,038,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry -
Corporate Profile Business Summary: The group is a contractor specialising in RMAA works in Hong Kong. Performance for the year: During each of FY2016, FY2017, FY2018, FY2019 and the nine months ended 30 September 2020, the group’s Group derived revenue from the provision of RMAA works in Hong Kong of approximately HK$186.0 million, HK$230.6 million, HK$302.0 million, HK$334.2 million and HK$237.1 million, respectively. Business Review During the Track Record Period, the group undertook repair and maintenance services, involving the upkeep, restoration and improvement of existing buildings and facilities, including the services of re-roofing, external and internal walls refurbishment, floor screeding and retiling, spalling repair, scaffolding, repairing and replacement of windows and door, plastering, painting, improvement of fire services system, plumbing and drainage works and the group also provided additional ancillary services, such as alteration and addition works of building layout and structural works, design of new structural works and checking of structural adequacy of existing constructions and interior decoration works to the existing premises. During the Track Record Period, most of the group’s projects were project-based while some were on term contract basis. Under the project-based contracts, the group have completed 67 projects during the Track Record Period and the aggregate original contract sum of which amounted to approximately HK$1,493.3 million. During the Track Record Period, the group have undertaken 11 term contracts that contributed revenue to the group’s Group, which were all awarded by Customer E, with the aggregate original contract sum approximately HK$185.8 million. the group were responsible for the provision of general building repair for specified properties with a fixed term of three years based on the requests by Customer E on an orderby-order basis. In the aforesaid term contracts entered into between Customer E and us, there are no fixed or committed contract value or guaranteed business volume. the group’s term contracts also contain estimated contract sum based on the agreed schedules of rates stated in the term contracts and the estimated quantities of work items. The actual amount and nature of works required to be performed by the group’s Group are subject to the customers’ work orders from time to time during the contract period, which are charged according to the agreed schedules of rates stated in the term contracts. As at the Latest Practicable Date, the group had 12 on-going project-based contracts and one existing term contract, the aggregate original contract sum of which amounted to approximately HK$541.6 million and HK$61.0 million, respectively. The aggregate contract value to be recognised on or after 1 October 2020 was approximately HK$347.7 million. For those project-based projects, the group primarily acted as a subcontractor or, to a lesser extent, as a main contractor. the group normally engage subcontractors to carry out the site works under close supervision and management by the group’s project management team and the group oversee and supervise the works conducted by the group’s subcontractors to ensure their conformity to contractual specification and that projects are completed on time and within budget. The works the group subcontract to the group’s subcontractors are generally labour intensive, such as scaffolding, plastering, painting, improvement of fire services system, waterproofing, fitting-out work, and plumbing and drainage works. For each of FY2016, FY2017, FY2018, FY2019 and the nine months ended 30 September 2020, the group’s Group’s subcontracting fees amounted to approximately HK$152.3 million, HK$194.8 million, HK$246.5 million, HK$266.8 million and HK$188.8 million, representing approximately 94.6%, 98.2%, 98.9%, 98.3% and 97.9% of the group’s Group’s total cost of services, respectively. During the Track Record Period, the group recorded relatively low purchase costs from the group’s suppliers as the group generally require the group’s subcontractors to bear the cost of construction materials. In some occasion, materials may be procured by us on the group’s own account for the use of the group’s subcontractors or the group’s customers may purchase materials on the group’s behalf and such accounts are subsequently settled under contra-charge arrangement. Materials are procured by us on a project-by-project basis to meet the estimated demand according to the work schedule of the projects. As such, the group did not keep any inventories during the Track Record Period. the group’s suppliers include (i) subcontractors; (ii) suppliers of construction materials, such as glazed ceramic wall tiles, paint and uPVC pipes; and (iii) suppliers of other miscellaneous services. The group secure projects through (i) open tenders published in local newspaper or website and (ii) invitations for tender and quotation by the group’s customers or their consultants. For each of FY2016, FY2017, FY2018, FY2019 and the nine months ended 30 September 2020, the group’s tender and quotation success rate was 19.7%, 19.8%, 21.3%, 23.5% and 29.0%, respectively. Prospects: The group’s principal business objective is to further strengthen the group’s market position, increase the group’s market share and capture the growth in the RMAA industry. the group intend to achieve this objective by adopting the following implementation plan: (i) upgrading the group’s construction equipment and enhancing the group’s safety measures through the provision of metal scaffolding system for some of the group’s projects; (ii) further strengthening the group’s financial position for the purpose of securing additional and large-scale RMAA projects; and (iii) further strengthening the group’s manpower to cope with the group’s business development.

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