Market Mover | SDCG Surged Over 36% on Its IPO Debut

Significantly, SDCG published its financial report for the second quarter of 2024 on September 6. The report revealed that the company's revenue for the quarter reached RM4,640 thousand, with a net profit of RM996 thousand and earnings per share (EPS) of 0.33 sen.

Solar District Cooling Group Berhad specializes in providing Building Management Systems (BMS), solar thermal systems, and energy-saving services. Its primary market is Malaysia, where it has a significant presence, contributing to a substantial portion of its total revenue. The company's distribution channels include indirect channels such as construction companies, facilities management companies, and concession companies, as well as direct channels targeting building owners and business operators.

The funds raised, totaling RM45.095 million, will be allocated towards several key areas: to expand the headquarters, tender bonds and/or performance bonds for future projects, the purchase of materials for the BMS segment, and for the solar thermal systems and energy saving services segment, general working capital, capital expenditure, and listing expenses.