New stock news | Changle Holdings makes a second attempt to list on the Hong Kong Stock Exchange's GEM board, mainly engaged in building construction engineering.

According to the disclosure by the Hong Kong Stock Exchange on January 23rd, Chang Le Holdings Limited (referred to as "Chang Le Holdings") submitted its listing application to the Hong Kong Stock Exchange GEM Board, with Likai Enterprise Financing Limited as its exclusive sponsor. The company had previously submitted an application to the Hong Kong Stock Exchange GEM Board on June 22, 2025. Company profile The prospectus shows that Chang Le Holdings is a construction and renovation main contractor based in Singapore, specializing in building construction projects including building construction, maintenance and decoration works, and renovation and extension projects. During the reporting period, the majority of the company's revenue came from building construction projects, while the rest of the revenue mainly came from labor supply in the construction industry, rental income from dormitories, and other ancillary services. In terms of building construction services, the company's scope of work includes demolition and site preparation, excavation and earthworks, substructure works, superstructure works, building decoration, mechanical and electrical works, external works, and other works. For maintenance and decoration works, the company's scope includes decoration and facility improvement works, structural repairs, drainage and plumbing upgrades, and mechanical and electrical works. For renovation and extension projects, the company's scope includes structural and architectural renovations, road and infrastructure renovations, roof and waterproofing upgrades, and mechanical and electrical works. In terms of customer concentration, in the fiscal years 2023, 2024, and 2025, the top five customers in terms of revenue accounted for approximately 81.0%, 57.8%, and 54.7% of total revenue respectively. The largest customer during the same periods accounted for approximately 53.4%, 13.5%, and 18.2% of revenue respectively. The company currently holds a GB1 license issued by the Building and Construction Authority, allowing it to undertake general building projects in Singapore. As of January 16, 2026, the company has a total of 11 ongoing projects. Financial information Revenue In the fiscal years 2023, 2024, and 2025, Chang Le Holdings achieved revenues of 29.63 million, 20.07 million, and 21.89 million Singapore dollars respectively. Profit In the fiscal years 2023, 2024, and 2025, Chang Le Holdings recorded net profits and comprehensive income of 446,000, 2.785 million, and 1.06 million Singapore dollars respectively. Gross profit margin In the fiscal years 2023, 2024, and 2025, Chang Le Holdings' gross profit margins were 13.7%, 26.7%, and 25.3% respectively. Industry overview Market size of Singapore's building construction industry The market size of Singapore's building construction projects, which includes site preparation and clearing, piling and related foundation works, and building construction activities, increased from 11.886 billion Singapore dollars in 2019 to 19.224 billion Singapore dollars in 2024, reflecting strong growth in the residential, commercial, and industrial building sectors. In 2024, the public and private sectors contributed approximately 51.1% and 48.9% to the entire industry respectively. Supported by Singapore's strategic urban planning initiatives, the total market size of the building construction industry is expected to reach 25.974 billion Singapore dollars by 2029, with a compound annual growth rate of approximately 6.2% from 2024 to 2029. Market size of Singapore's maintenance and decoration, extension, and renovation projects The market size of maintenance and decoration, extension, and renovation projects in Singapore, calculated by certified payments, increased from 5.244 billion Singapore dollars in 2019 to 7.22 billion Singapore dollars in 2024, with a compound annual growth rate of approximately 6.6%. The growth from 2021 to 2024 was mainly driven by the increase in public housing units by the Housing Development Board of Singapore and the surge in demand for renovation projects. With continuous urban redevelopment, Singapore government support for home improvement policies, and shorter property renovation cycles, the market size of maintenance and decoration, extension, and renovation projects in Singapore is expected to accelerate and reach 8.95 billion Singapore dollars by 2029, with a compound annual growth rate of approximately 4.4% from 2024 to 2029. According to the Building and Construction Authority's (BCA) data, competition in Singapore's construction industry was fierce in 2024, with approximately 1,514 registered contractors falling under the general building (CW01) category, and 871 registered contractors under the civil engineering (CW02) category. In 2024, the top five market participants in Singapore's construction industry held 25.3% of the total market share. Chang Le Holdings accounted for 0.1% of the total market share in 2024. Board of Directors information The company's board of directors currently consists of 7 directors, including 4 executive directors and 3 independent non-executive directors. Ownership structure As of January 16, 2026, Mr. Li Jiantao is the controlling shareholder of the company, owning 98% of the company's shares. Intermediary team Exclusive sponsor: Likai Enterprise Financing Limited Company's legal advisors: Regarding Hong Kong law: Calvin Chu & Co.; Regarding Singapore law: Harry Elias Partnership LLP; Regarding Cayman Islands law: Conyers Dill & Pearman Legal advisors for the exclusive sponsor: Regarding Hong Kong law: How Wei & Partners Auditors and reporting accountants: Grant Thornton Hong Kong Limited Industry consultant: Frost & Sullivan Limited Compliance consultant: Likai Enterprise Financing Limited