Gold-ornament exporter Hang Fung Gold Technology is pursuing a stock exchange listing to fund planned expenditure of $100 million this year, according to chairman Winger Lam Sai-wing. Market sources said the company, founded 20 years ago, was hoping to raise about $85 million during a public offering next week. Mr Lam said the firm planned to spend about $33 million each on research and development, promoting a key new product and adding production lines. Hang Fung is pinning its hopes on a new three-dimensional scanner that can generate life-like gold statues. Compared with business operations of Hong Kong gold and jewellery retailers such as Tse Sui Luen Jewellery (International) and Chow Sang Sang Holdings International, Hang Fung fares better. 'We're of different businesses though we use the same materials - gold and silver,' Mr Lam said. Hang Fung's regional exposure, is limited, the firm earning a big chunk of profit by exporting gold and silver ornaments and gifts to the United States and Europe. Net profit jumped more than 30 per cent to about $50 million on $480 million turnover for the 12 months to March 31, last year.