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Smart Union Group (Holdings) Limited-A (Short) Toy Story
內容大綱
Smart Union Group (Holdings) Limited was engaged in the manufacturing of recreational and educational toys and equipment for OEMs such as Mattel, Hasbro, and Megablocks. The company's manufacturing facilities were located in Guangdong Province, China, while the majority of the company's sales were made in the U.S. and Europe. The company went public in September 2006 with an IPO listed on the Hong Kong Stock Exchange, which netted HK$55 million. From 2003 to 2007, the company's sales revenues increased from HK$479 million to over HK$953 million. The company's rapid growth was financed by issuing equity and obtaining short-term bank loans. In 2007, Smart Union invested in a silver mine in Fujian Province to offset the impact of price increases in commodities used in production, and to expand its operational scope. At the end of 2007, the company's short-term bank debt of HK$240 million needed to be repaid or refinanced.