Ipsos Business Consulting engaged as Industry Consultant by Wang Yang Holdings Limited for its listing on the Main Board of the Hong Kong Stock Exchange (stock code: 1735.HK) on Mar 29, 2018. The group is a Hong Kong-based main contractor undertaking foundation works, superstructure building works and other contraction works in Hong Kong. The group principally provides services to private sector customers including private property developers, construction companies and other entities which require foundation works services and/or superstructure building works services.
Ipsos Business Consulting's IPO consulting team conducted an Independent Market Review, covering the industry development trends, market demand and competitive landscape of foundation industry and superstructure building works industry in Hong Kong. During the IPO process, Ipsos Business Consulting collaborated with the Group, IPO sponsor and its legal advisors to complete the contents of the prospectus as well as address all follow-up questions from the HKEX.
According to Ipsos Business Consulting's analysis, the total revenue of foundation industry in Hong Kong grew from about HK$20.1 billion in 2012 to about HK$20.3 billion in 2016, at a CAGR of 0.2%. During the forecast period from 2017 to 2021, the total revenue of the foundation industry in Hong Kong is expected to see a higher CAGR of approximately 3.3%, rising from approximately HK$23.1 billion in 2017 to approximately HK$26.3 billion in 2021. As superstructure building works is a part of the building construction works, from 2012 to 2016, the total revenue of the general building construction industry experienced growth from approximately HK$72.9 billion to approximately HK$125.0 billion, at a CAGR of 14.4%. Owing to a growing population in Hong Kong, the total revenue of the general building construction industry in Hong Kong is expected to increase from approximately HK$131.6 billion in 2017 to approximately HK$163.7 billion in 2021, at a CAGR of 5.6%.