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The Place Holdings Signs MOU to Acquire 51% of IP Rights Associated with Property Landmark, THE PLACE, and Iconic Attraction, Shimao Tianjie Sky Screen, in Beijing

indie
4 minutes

Singapore, Mar 7, 2022 - (ACN Newswire via SEAPRWire.com) - SGX mainboard-listed company, The Place Holdings Limited ("The Place Holdings", the "Company" and together with its subsidiaries, the "Group"), is pleased to announce that it has entered into a non-binding Memorandum of Understanding ("MOU") to acquire a 51% stake in two entities which hold the IP Rights of design patent and certain trademarks that are related to property landmark, THE PLACE, in Beijing as well as certain assets and businesses relating to the iconic attraction, Shimao Tianjie Sky Screen, in Beijing.Highlights:- The first acquisition relates to the intellectual Property Rights ("IP Rights") of design patent and certain trademarks that are used for the operations and management of the Sky Screen and real estate properties associated with the property landmark, THE PLACE ("THE PLACE"), in Beijing- The recurring royalty income of the IP Rights are derived from the operation and management of the Shimao Tianjie Sky Screen and the usage of IP Rights in relation to the real estate properties associated with THE PLACE mall- The second acquisition relates to the acquisition of certain assets and businesses relating...

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Entering the Commercial Property Management Subdivision Sector, Shimao Services Acquires Commercial Property Management Services-related Businesses

indie
3 minutes

HONG KONG, Dec 13, 2021 - (ACN Newswire via SEAPRWire.com) - Shimao Services Holdings Limited ("Shimao Services" or the "Company"; HKEX Stock Code: 873.HK) announced that the Company has conditionally agreed to acquire the property management services business and related value-added services being carried out by Shanghai Shimao in the PRC (the "Acquisition"). Upon the completion of the Acquisition, Shimao Services will enter into market segments such as commercial property management as well as facilities and equipment management.As a leading comprehensive property management and community living service provider in the PRC, the Acquisition will be complementary to the Company's existing operation and business layout, consolidate its existing advantageous position, generate synergies, accelerate the Company's development, and create greater value.The projects secured through the Acquisition are located in tier-1 and key tier-2 cities, which have numerous urban landmark projects with excellent branding effects. This will significantly facilitate the business expansion in the markets of the Company. Meanwhile, the customers of the subject commercial projects under management are hig...

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Shimao Services Acquires Hunan Jili Property, Further Strengthens Hospital Property Services Business Following Recent Cooperation with Kangqiao Property

indie
6 minutes

HONG KONG, Dec 7, 2021 - (ACN Newswire via SEAPRWire.com) - Shimao Services Holdings Limited ("Shimao Services" or the "Company"; HKEX Stock Code: 873.HK) has recently completed two acquisitions. On December 3, it reached an equity partnership agreement with Suzhou Tianxiang Property Management Co., Ltd. (hereinafter referred to as "Suzhou Tianxiang Property Management") and the latter has subsequently transferred 70% of its shares, representing 246 million yuan, to jointly develop the Suzhou market. On December 6, Shimao Services reached an equity partnership agreement with Hunan Jili Property Management Co., Ltd. (hereinafter referred to as "Hunan Jili Property"), in which Hunan Jili Property's 70% equity will be transferred for 99.64 million yuan, enabling Shimao Services to further expand and cultivate its hospital property services business within the Hunan market.As a real estate-related sector that has been greatly exploited in recent years, the property industry has entered a new integration stage in 2021. For property management companies with sufficient funding support from parent companies, mergers and acquisition activities have entered an active period with the scale o...

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Shimao Services has formed a strategic cooperation with Suzhou Tianxiang Property Management to effectively improve the expansion capabilities of the Suzhou market

indie
3 minutes

HONG KONG, Dec 3, 2021 - (ACN Newswire via SEAPRWire.com) - Shimao Services Holdings Limited ("Shimao Services" or the "Company"; HKEX Stock Code: 873.HK) and Suzhou Tianxiang Property Management Co., Ltd. (hereinafter referred to as "Suzhou Tianxiang Property Management") have reached an equity partnership agreement, and the latter has subsequently transferred 70% of its shares, representing 246 million yuan, to jointly develop the Suzhou market.The partnership between Shimao Services and Suzhou Tianxiang Property Management has created a high degree of strategic synergy. As 96.5% of Tianxiang's projects are located in Suzhou, it will greatly increase the density of Shimao Services' residential projects within this market, which is highly compatible with the Company's strategy of key city intensive development. On December 2, Shimao Services' arm in the Yangtze River Delta Region was awarded the "2021 East China Property Service Market TOP 3 Position". Suzhou is one of the key cities served by Shimao Services in the Yangtze River Delta region. Since Suzhou Tianxiang Property Management has 166 projects under management, the partnership has the potential to further enhance the proj...

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Strives for Five-fold Growth in Next Three Years, Grand Debut of Shimao Services’ “City Services Manager”

indie
6 minutes

HONG KONG, Nov 1, 2021 - (ACN Newswire via SEAPRWire.com) - In the advent of its first listing anniversary, Shimao Services Holdings Limited ("Shimao Services" or the "Company"; HKEX Stock Code: 873.HK) has been very active - setting up its second headquarters in Chengdu, cooperating with Lang Chao Infrastructure, undertaken overall operation and maintenance of the Westlake University Yungu Campus in Hangzhou, Zhejiang, among others. In the first half of this year, Shimao Services achieved operating revenue of RMB4,234 million, a 171% surge year-on-year. Its net profit attributable to the parent was RMB578 million, up 136% year-on-year. According to its 2020 results announcement, Shimao Services achieved a five-fold growth in both revenue and business scale in the past three years, and will strive for another five-fold growth in the next three years.On 29 October, in Shanghai, Shimao Services held an appreciation banquet to celebrate its first listing anniversary and the launch of its city services business. Ye Mingjie, Executive Director and President of Shimao Services Holdings, said he is optimistic about the development prospects of the property industry and Shimao Services wil...

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Shimao Services Implements Five Major Strategies and Launches Municipal Services Manager to Help Improve Service Quality and Efficiency

indie
8 minutes

HONG KONG, Oct 29, 2021 - (ACN Newswire via SEAPRWire.com) - In October 2020, Shimao Services Holdings Limited ("Shimao Services" or the "Company"; HKEX Stock Code: 873.HK), a leading comprehensive property management and community living services provider in China, was listed on the Hong Kong Stock Exchange and successfully embarked on a new journey in the capital market. By expanding its comprehensive property management services, diversified value-added services and smart city services, the Group has achieved high-quality growth.Shimao Services is positioned as a leading comprehensive property management and community living service provider in China. With its brand concept focused on a "Better Smart Life", Shimao Services is committed to becoming a leading full-scenario provider of city life services in China. In addition to further developing its comprehensive property management, diversified value-added services, smart city services and digital technology businesses, it also seeks to become one of the leading players in the property services industry by 2023.Implements five major strategies, including "1+1+X"The resources and market share of the property service industry are ...

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Shimao Services Announces 2021 Interim Results, Operating Revenue Surges 171% to RMB 4,234 million

indie
12 minutes

HONG KONG, Aug 25, 2021 - (ACN Newswire via SEAPRWire.com) - Shimao Services Holdings Limited ("Shimao Services" or the "Company"; HKEX stock code: 873.HK), a leading comprehensive property management and community living services provider in China, has announced its 2021 interim results, reporting an operating revenue of RMB 4,234 million, a year-on-year increase of 171%. Profit attributable to equity shareholders of our Company was RMB578 million, a 136% surge year-on-year. The Company's GFA under management and various operating indicators also swelled markedly, accomplishing strong growth during the reporting period.(From left to right): Mr. Liu Yu, Assistant President of Shimao Services; Mr. Cai Wen Wei, Assistant President, Chief Financial Officer and Executive Director of Shimao Services; Mr. Hui Sai Tan, Vice Chairman of the Board and President of Shimao Group, and Chairman of the Board of Shimao Services; Mr. Ye Mingjie, Executive Director and President of Shimao Services; Mr. Feng Bo, Vice President of Shimao ServicesDuring the results announcement press conference, Mr. Hui Sai Tan, Vice Chairman of the Board and President of Shimao Group, and Chairman of the Board of Shi...

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Shimao Services Announces 2020 Annual Results

indie
8 minutes

HONG KONG, Mar 15, 2021 - (ACN Newswire via SEAPRWire.com) - Shimao Services Holdings Limited ("Shimao Services" or the "Company"; HKEX stock code: 873.HK), a leading comprehensive property management and community living services provider in China, today announced the first annual results since its listing. In 2020, Shimao Services recorded operating revenue of RMB5,026 million, representing a year-on-year growth of 101.9%. Profit for the year surged 88.4% amounting to RMB724 million. Profit attributable to the equity holders of the Company stood at RMB693 million, representing a year-on-year growth of 80.2%. The Company has achieved overwhelming results compared with the previous guidelines. The Company's cash and cash equivalents amounted to RMB5.83 billion in 2020, representing an increase of 586.2%. Adhere to the concept of win-win sharing, the Board proposed a final dividend of HK11 cents per share, and total dividend amounted to HKD 260 million, translating to a dividend payout ratio of 31%. During the review year, the Company's GFA under management and various operating indicators expanded rapidly and accomplished speedy development. (From left to right): Mr. Liu Yu, Assist...