Smart City Development Holdings Limited (formerly know as Deson Construction International Holdings Limited) (hereinafter referred as “Group”) listed on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited on 8 January 2015 (stock code: 8268). Deson Development Limited, the founding company of the Group was founded in 1988 and is mainly engaged as a general contractor for construction contracting business in China. Its business scopes include building construction work, electrical and mechanical (E&M) installation and fitting-out works. Initially, the Group’s clients were mostly the large-sized and medium-sized Hong Kong property developers who had their property investments and developments in China.
After the onset of Asian financial crisis in 1997, Hong Kong investors reduced their property investments and developments in China. To cope with this drastic change, the Group diverted its focus of the contracting business market from China to Hong Kong and started to actively expand its construction business in Hong Kong. The Group has held some major Building and E&M contracting licenses granted by the relevant authorities of Hong Kong, the procurement of which has certainly facilitated its contracting business development in the Hong Kong market. In 2000, the Group had successfully acquired Kenworth Engineering Limited, which further enhancing its competitiveness in the Hong Kong construction market. Kenworth Engineering Limited, formerly known as Gilman Engineering Limited, is one of the few companies in Hong Kong with over 80 years experiences and track records in rendering E&M contracting services.
Currently, the Group is principally engaged as a contractor in the building industry operating in Hong Kong and China. In the highly competitive building industry, the Group ranked ninth among contractors in Hong Kong providing building construction works, electrical and mechanical engineering works and fitting-out works in terms of revenue and have approximately 0.6% of the market share in terms of the total industry revenue for the 12 months ended 31 December 2013 according to an industry report dated 11 December 2014 prepared by Ipsos Hong Kong Limited, being an independent professional market research company, on the building industry in Hong Kong and China. The Group serves its clients through its main office in Hong Kong and the China offices in Beijing and Shanghai. Limited ad-hoc services also being provided to customers in other geographic markets from time to time where feasible.
Since its establishment, the Group has completed hundreds of building construction, electrical and mechanical engineering and fitting-out projects in Hong Kong and in the major cities of China.
The following is some introduction of the Group’s major subsidiaries and joint ventures:
‧ Deson Development Limited
Deson Development Ltd.（“Deson Development”or “the Company”）has been a core business subsidiary of the Group since its establishment in 1988. The company’s business expertise lies in acting as a main contractor for construction projects. As of today, Deson Development holds numerous construction licenses. The company has a well experienced international project management and professional teams, that are well familiar with international contracts, norms and procedures (including relevant requirements in various regions of Mainland China). The Company has worked in cooperation with many multinational companies as JV contractors for large construction projects, therefore it has procured rich practical experience in cost control and contract administration. Deson Development’s business in Hong Kong and in the Mainland China covers many areas, which provides it a certain competitive edge for various types of projects. Since its inception, the company has successfully completed hundreds of construction projects in Hong Kong and in many of China’s major cities.
Other major projects, where Deson Development acted as a contractor or project manager or design & build contractor for construction projects.
‧ Kenworth Engineering Limited
It was initially established in Hong Kong in 1922, under the name of James H. Backhouse Limited. Kenworth Engineering Limited has operated in the name of “Gilman Engineering Limited” in 1980’s and become one of the large providers of integrated engineering services to the electrical and mechanical (E&M) engineering industry in Hong Kong. The company continues to provide a wide range of high quality professional engineering services. The company has many electrical and mechanical works licenses issued by Works Branch of Development Bureau and the Building Department of Hong Kong Government.
‧ Deson Engineering Limited
Deson Engineering Limited was established in 2001 and is engaged as a main contractor in fitting-out works and minor works including the fitting-out works for prestige retail shops. The company has the registered Minor Works Contractor issued by the Building Department of Hong Kong Government.
‧ Deson (Macau) Construction Limited
Deson (Macau) Construction Limited was established in August 2005. The company is engaged in fitting-out works for prestige retail shops in Macau.
‧ Beijing Chang-de Architectural & Decoration Co., Ltd.
Beijing Chang-de Architectural & Decoration Co., Ltd. was established in March 1990. The company is a subsidiary company of the Group. The company is registered as “Grade I Professional Contractor of Construction and Renovation Works” and “Grade A Professional Interior Design”. The company is a first-class local and foreign joint venture enterprise and is principally engaged in contracting of building construction and large-scale interior fitting-out works. It also provides project management services.
Group’s Corporate Mission is “Assuring High Credibility, Serving with Excellent Services”. Providing its clients with high-quality and high-standard services is the Group’s principle of doing things. Since its establishment, some of the Group’s completed construction projects had been granted with highest building awards in China construction industry, such as Lu Ban Prize and Bai Yu Lan Prize.