蚬壳电业再次递表港交所，严重依赖美国单一客户
格隆汇9月10日丨IPO那点事（ID：ipopress）消息，港交所信息显示，9月9日，蚬壳电业有限公司递交港股主板上市申请，显示独家保荐人为红日资本有限公司。
值得注意的是，蚬壳电业曾于2019年1月28日递交过港股上市申请，目前显示已经失效。
蚬壳电业的总部设于香港，制造业务位于内地。主要从事制造及出售电动工具以及采购及出售电风扇、工作灯、吸尘机及其他电动工具。
蚬壳电业的历史可追溯至1950年代。自此，其于香港开发、营销及出售自有「SMC」品牌电风扇，并将其产品营销至美洲、欧洲、大洋洲、非洲及亚洲其他地方等地区，进一步拓展其电风扇市场至海外。于2003年开始制造及出售电动工具。于2019年6月30日，该集团于全球不同地方有155名分销商及零售商，亦直接出售其电风扇予香港终端客户。
于2016-2018年财政年度及2019年上半年，蚬壳电业的收益分别约为2.171亿港元、2.51亿港元、2.661亿港元及1.521亿港元，而其纯利则分别约为23.9百万港元、31.2百万港元、34.6百万港元及27.6百万港元。
美国市场及澳洲市场均为该集团的主要出口市场。对美国市场的销售分别占各记录期间收益的约25.4%、38.0%、37.6%及40.9%。对澳洲市场的销售分别占约27.5%、21.7%、21.1%及14.1%。
IPO那点事（ID：ipopress）注意到，在各记录期间，向五大客户销售的金额分别占总收益的约80.1%、81.8%、88.4%及86.3%。向最大客户美国客户销售的金额分别占该集团总收益的约42.9%、52.4%、59.1%及66.9%。
主要风险因素：
美国及中国之间的贸易战可能令该集团由中国的生产基地出口至美国的产品须缴付更高的关税；该集团大部分销售依赖若干名客户；该集团极依赖美国市场及澳洲市场，因此美国或澳洲经济及监管情况，以及该等国家的环球贸易政策的任何变动，或美国或澳洲客户业务策略的变动，可能对集团业务构成不利影响；及易受日后美元及若干其他货币间汇率波动所影响。
募资用途方面：
将用作改善集团日常营运效率；将用作策略性拓展集团的产能；投放资源至新产品及电器上；将用于设立电子商贸销售功能，改善集团销售网络的触及范围。
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