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To-be Listed
Name
/
Code
Industry Offer Price Lot Size Entry Fee Closing Date
Grey Market Date
Listing Date
REFIRE
02570.HK
Electrical Components & Equipment 145-165 20 3,333 2024/12/03 2024/12/05 2024/12/06
Dmall
02586.HK
Application Software 30.21 100 N/A 2024/12/03 2024/12/05 2024/12/06
Summary
We are a fast-growing upscale property management and city operation service provider in China. According to China Index Academy, the average property management fee for properties under our management was significantly higher than the industry average of the Top 100 Property Management Companies in 2018, 2019 and 2020. According to China Index Academy, we are an industry-leading company in terms of multiple indicators in the three dimensions of scope of service, service standards and service fees. China Jinmao, our Controlling Shareholder, is a top tier property developer in China. We provide a full range of high-quality property management and value-added services to one of the fastest-growing portfolios of high-end residential properties, according to China Index Academy. We also manage and operate a diversified and growing portfolio of commercial properties primarily comprising office buildings and shopping malls, as well as public properties such as schools, government facilities and other public spaces. As of September 30, 2021, the total GFA under management was approximately 23.2 million sq.m. According to China Index Academy, the property management industry in China is highly competitive and fragmented. Our market share in terms of GFA under management and total revenue in 2020 was approximately 0.07% and 0.15% of the property management market in China. We were ranked the 5th in terms of revenue per sq.m. among the Top 100 Property Management Companies headquartered in the Beijing-Tianjin-Hebei Region in 2020. We were ranked the second in terms of GFA under management for upscale property management service projects among the Top 100 Property Management Companies in Beijing in 2020.

Capitalizing on our leading brand reputation, extensive resources and experience, and comprehensive technological capabilities, together with our business partners, we are committed to developing a lifestyle service platform that is centered around living and working activities of property users. Through our platform, we seek to synergize different pillars of our services to deliver an integrated and elevated living experience, improve property users’ quality of life and vitalize property management for owners.

We are engaged in three business lines, namely (i) property management services, (ii) value-added services to non-property owners, and (iii) community value-added services. We also provide city operation services, the scope of which spans across our three business lines. We were established over 25 years ago to focus on the provision of property management services in China. In addition to property management services, we offer value-added services to non-property owners (such as sales assistance, consultancy and other value-added services). We also offer a variety of community value-added services, which are provided mainly to the owners and residents of the properties we manage.

Our contracted GFA reached 45.7 million sq.m. as of September 30, 2021, covering 47 cities in 22 provinces, autonomous regions and municipalities in China, 67.8% of which are in first-tier and second-tier cities in China. As of the Latest Practicable Date, our property management portfolio covered residential properties and a wide range of non-residential properties, including commercial properties (such as office buildings and shopping malls) and public and other properties (such as schools, government facilities and other public spaces). Our total GFA under management as of September 30, 2021 was 23.2 million sq.m. across 35 cities in 20 provinces, autonomous regions and municipalities in China, encompassing 96 residential projects and 41 non-residential projects. As of September 30, 2021, our GFA under management for residential properties and non-residential properties was approximately 19.7 million sq.m. and 3.5 million sq.m., representing 85.0% and 15.0% of our total GFA under management, respectively. Our GFA under management refers to contracted GFA of properties for which we have started to provide property management services pursuant to the relevant property management service contracts, whereas our contracted GFA refers to GFA under management and GFA to be managed by us under operating property management contracts, including both delivered and undelivered GFA.

We experienced rapid growth during the Track Record Period. Our revenue increased from RMB574.5 million in 2018 to RMB788.3 million in 2019 and further to RMB944.2 million in 2020, representing a CAGR of 28.2% from 2018 to 2020. Our revenue in the nine months ended September 30, 2020 and 2021 was RMB665.3 million and RMB1,048.7 million, respectively. Meanwhile, our profit for the year increased from RMB17.5 million in 2018 to RMB22.6 million in 2019 and further to RMB77.1 million in 2020, representing a CAGR of 110.0% from 2018 to 2020. Our profit for the nine months ended September 30, 2020 and 2021 was RMB53.3 million and 109.4 million, respectively.



Source: Jinmao Services (00816) Prospectus (IPO Date : 2022/02/25)
Listing Market MAIN
Industry Property Service and Management
Background Others
Major Business Area N/A
Corporate Information
Substantial Shareholders [00817] China Jinmao Holdings Group Limited (67.28%)
Sinochem Holdings Corporation Ltd. (7.48%)
Directors Song Liuyi (Chairman and Executive Director)
Li Yulong (Chief Executive Officer and Executive Director)
Zhao Jinlong (Chief Financial Officer and Executive Director)
Qiao Xiaojie (Non-Executive Director)
Gan Yong (Non-Executive Director)
Chen Jieping (Independent Non-Executive Director)
Han Jian (Independent Non-Executive Director)
Sincere Wong (Independent Non-Executive Director)
Company Secretary Ho Wing Tsz Wendy
Principal Bankers DBS Bank (Hong Kong), Limited
Bank of China (Hong Kong) Limited
Solicitors Latham & Watkins LLP
Auditors Ernst & Young
Registered Office Rm 4702-03, 47th Floor, Office Tower Convention Plaza, 1 Harbour Road, Wanchai, Hong Kong
Share Registrars Computershare Hong Kong Investor Services Ltd. [Tel: (852) 2862-8628]
Share Registrars Tel No (852) 2862-8628
Internet Address http://www.jinmaowy.com
Email Address [email protected]
Tel No (86) 4001-099-666
Fax No
 
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Email: [email protected]
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