IPO Plus - IPO

Name▼ / Code▼	Industry	Offer Price	Lot Size	Entry Fee	Closing Date	Grey Market Date▼	Listing Date▲
Minieye Tec 02431.HK	Application Software	17-20.2	200	4,081	2024/12/20	2024/12/24	2024/12/27
Xunfei Healthcare 02506.HK	Application Software	82.8	50	N/A	2024/12/23	2024/12/27	2024/12/30
InnoScience 02577.HK	Semiconductors & Semiconductor Equipment	30.86-33.66	100	3,400	2024/12/23	2024/12/27	2024/12/30
HealthyWay 02587.HK	Health Care Services	7.8-8.8	500	4,444	2024/12/23	2024/12/27	2024/12/30

Name▼

Code▼

Industry

Offer Price

Lot Size

Entry Fee

Closing Date

Grey Market Date▼

Listing Date▲

Minieye Tec
02431.HK

Application Software

17-20.2

200

4,081

2024/12/20

2024/12/24

2024/12/27

Xunfei Healthcare
02506.HK

Application Software

82.8

N/A

2024/12/23

2024/12/27

2024/12/30

InnoScience
02577.HK

Semiconductors & Semiconductor Equipment

30.86-33.66

100

3,400

2024/12/23

2024/12/27

2024/12/30

HealthyWay
02587.HK

Health Care Services

7.8-8.8

500

4,444

2024/12/23

2024/12/27

2024/12/30

Summary

We are the largest private formal vocational education service provider in the Greater Bay Area and the fifth largest private formal vocational education services provider in China in terms of full-time student enrollment in the 2019/2020 school year, accounting for approximately 5.8% and 0.5% of the market share in the Greater Bay Area and China in terms of student enrollment in the year, respectively, according to the Frost & Sullivan Report. As of the Latest Practicable Date, we operated two schools in the Greater Bay Area, namely, Lingnan Institute of Technology and Lingnan Modern Technician College, which we refer to as “our schools” in this document. We primarily provide vocational education to 27,033 full-time students enrolled in our schools in the 2020/2021 school year, of which 68.4% were enrolled in the TMT Industry- and Healthcare Industry-related majors. Our schools achieved Initial Employment Rate ranging from 92.3% to 99.2% during the Track Record Period. We primarily focus on the following key areas: Our Geographical Focus: Our schools are strategically located in the Greater Bay Area, and for our students who graduated in 2019, approximately 84.5% of the graduates of our Lingnan Institute of Technology and approximately 88.7% of the graduates of our Lingnan Modern Technician College had obtained employment in the area, which reflected our focus to provide high-quality vocational talents to support the businesses and enterprises in the Greater Bay Area. According to the Frost & Sullivan Report, the Greater Bay Area contributed approximately 11.7% of nominal GDP of the PRC in 2019 and has become an important growth engine of China’s economy. We believe that we are in a strong position to further benefit from the emerging high growth in the region and are able to take advantages of the favorable government policies to support the regional economic development of the Greater Bay Area. According to the Frost & Sullivan Report, the private formal vocational education market in the Greater Bay Area accounted for approximately 8.7% of the private formal vocational education market in China in terms of revenue in 2019. Our Industry Focus: Our schools are committed to supporting the growth of China’s rising industries, especially the TMT Industry and Healthcare Industry. In 2019, these two industries together contributed approximately 63.8% of the total GDP of the Greater Bay Area while they still had a 3.3 million talent gap in this region, according to the Frost & Sullivan Report. The emerging growth of the regional economy and the shortage of talents are primarily driven by the transformation of the PRC’s economy, the aging population, the acceleration of the prevalence of chronic diseases and favorable government policies. We have a strong track record in supplying professional and technical talents to support the growth of the rising industries in the Greater Bay Area. We plan to continue to provide high-quality vocational education in the TMT Industry and Healthcare Industry to help our students achieve success after graduation. The rapid industry growth and wide talent gaps of the TMT Industry and Healthcare Industry in the Greater Bay Area drives the demand for graduates enrolled in the TMT Industry- and Healthcare Industry-related majors. In the 2019/2020 school year, the percentage of our student enrollment in the TMT Industry- and Healthcare Industry-related majors was 64.4%, which was the highest among all private vocational education groups in the Greater Bay Area in the same school year. Our focus on vocational education in these two rising industries has made our graduates competitive in the job market and helped our schools to achieve high initial employment rates. Our Curriculums: We primarily focus on offering practical and job-oriented education. We offer a wide range of curriculums to our students and equip them with ready-to-work practical skills through our school-enterprise collaboration programs. Through the 12 secondary colleges of Lingnan Institute of Technology and seven departments of Lingnan Modern Technician College, we offered a total of over 70 majors in the 2020/2021 school year. As of the Latest Practicable Date, we had entered into school-enterprise cooperation agreements with over 1,000 enterprises in the PRC, among which, we continued to collaborate with over 100 of these enterprises as of the Latest Practicable Date. We designed and developed curriculums based on employers’ specific needs and introduced real-life corporate projects to our students to help them gain practical and readily- applicable skills and improve their competitiveness. We were able to achieve high graduate Initial Employment Rates during the Track Record Period. For the 2017/2018, 2018/2019 and 2019/2020 school years, the Initial Employment Rate of our Lingnan Institute of Technology was 92.5%, 92.3% and 84.5%, respectively. For the same school years, the Initial Employment Rate of Lingnan Modern Technician College was 99.5%, 99.4% and 99.2%, respectively. In contrast, the overall average Initial Employment Rate of junior college education in China was 78.2%, 78.4% and 78.6%, and the overall average Initial Employment Rate of private formal secondary vocational education in China was 81.7%, 81.9% and 82.6% in 2017, 2018 and 2019, respectively, according to the Frost & Sullivan Report. Our Financial Performance: We experienced steady growth in our student enrollment, revenue and profit during the Track Record Period. Source: SCVE Group (06913) Prospectus (IPO Date : 2021/06/30)
Listing Market	MAIN
Industry	Education Services
Background	Others
Major Business Area	N/A

Corporate Information

Substantial Shareholders	He Huishan (46.48%) He Huifang (14.24%) He Huifen (14.24%)
Directors	He Huishan (Chairman and Executive Director) He Huifen (Executive Director) Lao Hansheng (Executive Director) Luo Pan (Independent Non-Executive Director) Ma Shuchao (Independent Non-Executive Director) Yeh Zhe-Wei (Independent Non-Executive Director)
Company Secretary	Suen Ka Yan
Principal Bankers
Solicitors	Morgan, Lewis & Bockius LLP
Auditors	Ernst & Young
Registered Office	40th Floor, Dah Sing Financial Centre, 248 Queen’s Road East, Wanchai, Hong Kong
Share Registrars	Tricor Investor Services Ltd. [Tel: (852) 2980-1333]
Share Registrars Tel No	(852) 2980-1333
Internet Address	http://www.scvedugroup.com
Email Address	ir@scvedugroup.com
Tel No
Fax No

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