Advance JV Group Ltd Priced Primary

What the company does

Advance JV Group Limited (AJVG) is a Cayman Islands exempted holding company that conducts its operations primarily in Hong Kong through its operating subsidiary, Advance JV Construction Limited. The operating subsidiary is engaged in construction-related services, including pile foundations (such as mini-piles and pile caps) for projects in Hong Kong, with revenue derived from a limited number of customers, some of which are related parties. AJVG is a foreign private issuer with no public trading market for its ordinary shares and intends to have them quoted on the OTCQB Venture Market.

Use of proceeds

The net proceeds from the offering will be used for general corporate purposes as described in the "Use of Proceeds" section on page 50 of the prospectus. The issuer states it cannot specify with certainty the particular uses of the net proceeds, and management will have broad discretion in their application, including for working capital, possible acquisitions, and other general corporate purposes.

Underwriters

The completed effective-prospectus read stated no underwriters.

Extracted from 424B4 0001493152-26-040933, filed Sep 1, 2026 and verified against that filing text.

Key risk factors

• Customer concentration risk

  “A significant portion of our revenue was generated from contracts awarded by a limited number of customers, and any significant decrease in the number of projects with our major customers, some of which are our related parties, may materially and adversely affect our financial condition and operating results.”

• Non-payment or delayed payment risk

  “Our business is subject to the risk of non-payment or delayed payment by our customers, including related parties, which could adversely affect our financial condition and results of operations.”

• Non-recurrent project revenue risk

  “Our revenue is mainly derived from projects which are non-recurrent in nature and there is no guarantee that our customers will provide us with new businesses.”

• PRC/Hong Kong government intervention risk

  “Our key operations are in Hong Kong, a Special Administrative Region of the PRC. According to the long-arm provisions under the current PRC laws and regulations, the PRC government may exercise significant oversight and discretion over the conduct of our business and may intervene in or influence our operations at any time, which could result in a material change in our operations and/or the value of the Shares.”

• Broad discretion in use of proceeds

  “Our management will have broad discretion in the application of such net proceeds, including working capital, possible acquisitions, and other general corporate purposes, and we may spend or invest these proceeds in a way with which our shareholders disagree.”

• Disclosure controls limitations

  “Our disclosure controls and procedures may not prevent or detect all errors or acts of fraud.”

• Limited analyst coverage risk

  “Securities analysts may not publish favorable research or reports about our business or may publish no information at all, which could cause our Ordinary Share price or trading volume to decline.”

• Enforceability of judgments risk

  “Certain judgments obtained against us by our shareholders may not be enforceable.”