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ORIENTAL RISE HOLDINGS Ltd (ORIS)


Company Overview

Proposed Symbol ORIS
Company Name ORIENTAL RISE HOLDINGS Ltd
Exchange NASDAQ Capital
Share Price $4.00
Employees 70 (as of 10/17/2024)
Status Priced
Shares Offered 1,750,000
Offer amount $7,000,000
Shares Over Alloted
Company Address NO. 48 XIANYU ROAD, SHUANGCHENG TOWN ZHERONG NINGDE 355399
Company Phone 86-(0)5938386777
Company Website
CEO Dezhi Liu
State of Inc
Fiscal Year End 12-31
Total Offering Expense $597,153.16
Shareholder Shares Offered
Shares Outstanding 21,750,000
Lockup Period (days) 180
Lockup Expiration 2025-04-15 00:00:00
Quiet Period Expiration 2024-11-26 00:00:00
CIK 0001964664
DealId 1273751-107941

Company Description

We are an integrated supplier of tea products in mainland China. Our major tea products include (i) primarily-processed tea consisting of white tea and black tea, and (ii) refined white tea and black tea. “Primarily-processed tea” refers to fresh tea leaves that have been roughly processed by initial steps including picking, wilting, drying, and grading. “Refined tea” refers to primarily-processed tea that is subjected to additional processing including sifting, removal of branches and stalks, compressing, drying, and packaging. Our business operations are vertically integrated, covering cultivation, processing of tea leaves and the sale of tea products to tea business operators (such as wholesale distributors) and end-user retail customers in mainland China. We believe our vertically integrated business model distinguishes us from other primarily-processed tea and refined tea suppliers in mainland China, most of which are mainly engaged in only distinct parts of the value chain of cultivation, processing and sales of primarily-processed tea and refined tea. We operate tea gardens located in Zherong County, Ningde City in Fujian Province of mainland China. As of the date of this prospectus, we have entered into contractual management agreements with relevant villages with respect to approximately 7,212,000 square meters of tea gardens in Fujian Province. According to the CIC Report, Fujian accounts for approximately 67.2% of the total production volume of white tea in mainland China in 2021. In 2021, the white tea production volume of the Company is 424.8 tons, accounting for 0.8% and 0.5% of the total white tea production volume in Fujian Province and mainland China, respectively. Primarily-processed white tea is our leading product, accounting for approximately 83.2% and 82.4% of our total revenue for the years ended December 31, 2022 and 2023, respectively. Our internal observations indicate increasing consumption demand for white tea and favorable future prospects of the white tea industry. According to CIC report, domestic sales value of white tea in mainland China have experienced a strong growth between 2017 and 2021, increasing from approximately US$400 million (RMB 2.9 billion) to approximately US$1.3 billion (RMB 9.1 billion), representing a compound annual growth rate of approximately 32.80%. The CIC Report estimates mainland China domestic sales value of white tea to approximately US$2.4 billion (RMB 16.0 billion) by 2026. Such figures indicate increasing consumption demand for white tea and favorable future prospects of the white tea industry. We believe the size and scale of the tea gardens we operate, quality of our white tea product and quality control systems provide an exciting opportunity to service the blooming white tea market in mainland China. --- Our principal executive offices are located at No. 48 Xianyu Road, Shuangcheng Town, Zherong County, Ningde City, Fujian Province, mainland China. Our telephone number at this address is +86-13705285088. Our registered office in the Cayman Islands is Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman, KY1-1111, Cayman Islands and is currently located at the office of Conyers Trust Company (Cayman) Limited, Cayman Islands, which may be changed from time to time at the discretion of directors. Our agent for service of process in the United States is The Crone Law Group P.C., 420 Lexington Avenue, Suite 2446, New York, NY 10170.