Download the Prospectus
Website
Pre Money Equity Valuation
$101,205,000
Min Raise
$1,000,000
Max Raise
$3,000,000
Estimated Close
2020-01-15
Issue Type
IPO
Lead Manager
Rock Capital Pty Ltd
Type of Securities
Shares
Date First Lodged
13/12/2019
Offer Costs $
$317,830
Market Cap Max
$104,205,000
Key Executives
Rodney Huey (NEC), Shijie Qiu (CEO and ED), Guang Yang (ED and CFO), Bruce Thornthwaite (NED), Antony Tolfts (NED)
Company Address
3/48 Baywater Drive, Wentworth Point NSW 2127
Exchange
SSX
Chairman's Letter

Dear Investors,
On behalf of the Board of ShengQuan Aged Care Service Ltd (the “Company”), I am pleased to invite you to join us as a shareholder on our exciting journey. The Company was established in 2018 to acquire the operating companies focused on the provision of aged care servicesin Shandong Province in the People’s Republic of China. This business was previously held assubsidiaries of the ShengQuan Group, a China based diversified group. The ShengQuan Group’s involvement in the aged care industry dates back to 2008. Currently the Group has close to 2,600 residents in three facilities in Shandong Province, with plans in place to expand to 3,414 residents within two years. With “aging” populations in both China and Australia, the Company sees an opportunity to broaden its activities by: (a) expanding its aged care residential operations in China; (b) Considering opportunities to enter the Australian market for the provision of aged care services, either in its own right or by way of joint ventures with Australian partners. The Company does not currently have any operations in Australia; (c) utilising and implementing “best practice” for standards of aged care service delivery between both Australia and China, by recognising the cultural differences between the countries and delivering services that cater for outstanding aged care service delivery in both countries; (d) establishing arrangements for the delivery of training for aged care workers, in China in accordance with recognised high-quality Australian standards, and building the skills and formal qualifications of Chinese carers to be applied in the China environment; and (e) as an outcome of its training activities, providing avenues for the employment of aged care workers, skilled to Australian standards. These works will be engaged not only in its own facilities in China, but as a service to other Chinese aged care providers by adding to the stock of expertise available in China, and also to meet the growing demands for “in-home” carers in China. The Company has Directors and management who are equipped with skills and experience covering the aged care industry in both countries, coupled with high standards of management and Australian standards of corporate governance. The Company intends to raise funds in this initial offering to provide working capital for business development costs involved in the funding of the establishment of carer education arrangements, and the costs involved in the identification and planning of possible further expansion of aged care service provision in both China and Australia. Further information is set out the Use of Funds at Section 9.17. The Company is seeking a listing on the Sydney Stock Exchange to provide a platform to raise funds for those purposes, and for the Company to further pursue opportunities in Australia. With your support as Shareholders, we believe that the Company can be a model for cross-culture aged care service provision, and take advantage of the demand in both Australia and China for high quality, culturallysensitive, aged care services. I invite you to consider favourably this opportunity to join us on this journey, and I look forward to welcoming you as a Shareholder in the Company.
Yours sincerely, Rodney James Huey