Ipsos Business Consulting was engaged as Industry Consultant by Wing Chi Holdings Limited for its listing on the Main Board of the Hong Kong Stock Exchange (stock code: 6080.HK) on Oct 20, 2017. The Group positions itself as a subcontractor engaged in foundation and site formation works in Hong Kong. The Group's foundation and site formation works represent the projects undertaken by the group, the nature of which are broadly classified as pile caps construction, ELS works and site formation works.
Ipsos Business Consulting's IPO consulting team conducted an Independent Market Review, covering the market landscape and competitive analysis of the foundation and site formation 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 gross output value of foundation works and site formation works grew from about HK$21.3 billion in 2012 to about HK$22.9 billion in 2016, at a CAGR of 1.8%, owing to the rapid development of the construction industry. During the forecast period from 2017 to 2021, the total gross output value of foundation works and site formation works is expected to see a higher CAGR of approximately 3.5%.