Aerosol products manufacturer China Ludao Technology Co. Ltd. (02023.HK), which seeks to list on the Hong Kong stock exchange, will widen its line of self-branded products to boost its gross profit margin and competitiveness, Ming Pao Daily reported Wednesday. Chairman Yu Yuerong was quoted as saying its contracted manufacturing business had a gross profit margin of 22 percent in 2012, while that of its self-branded business increased to 29 percent. The company also aims to enter the Hong Kong market this year or early 2014, and is seeking distributors in the territory. China Ludao is hoping to raise up to HK$60 million (US$7.74 million) from its placement and public offer of new shares, which will be completed on Oct. 4, the report said.
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