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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 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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Redsun Services is given “Buy” Rating by CEB International

indie
3 minutes

HONG KONG, Aug 24, 2021 - (ACN Newswire via SEAPRWire.com) - Redsun Services Group Limited ("Redsun Services" or the "Group") (stock code: 1971.HK), a fast growing comprehensive community services provider focusing on the Yangtze River Delta, is given "Buy" rating by CEB International with a target price of HK$6.0.CEB International considers that the net profit of Redsun Services raised by 60.4% year-on-year to RMB 37.4 million in the first half of 2021, which is in line with their expectation. The main reasons include: 1) the increase of GFA under management; and 2) community value-added services grew strongly.By the end of June this year, the total GFA under management of the group had reached 34.36 million sq.m., an increase of 83.5% year-on-year. Among them, third-party contribution of GFA under management accounted for 60%, an increase of 22.2 percentage points year-on-year.By business segment, the revenue from property management services was RMB350 million, an increase of 55.2% year-on-year; revenue from value-added services to non-property owners was RMB84.8 million, an increase of 22.9% year-on-year; and revenue from community value-added services surged 230% year-on-year ...

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Redsun Services 2020 Adjusted Profit Surges 63.5% to RMB93.3 Million, GFA Under Property Management Services Increases 71.4% to 27.0 Million sq.m.

indie
7 minutes

HONG KONG, Mar 23, 2021 - (ACN Newswire via SEAPRWire.com) - Redsun Services Group Limited ("Redsun Services" or the "Group"), a fast growing comprehensive community services provider focusing on the Yangtze River Delta, has announced its annual results for the year ended 31 December 2020 ("FY2020"). Under the three-dimensional development plan, which consists of property management services, value-added services to non-property owners and community value-added services, the Group has performed brilliantly as reflected by its first annual results since listing. FY2020 Highlights:-- The Group's revenue was RMB767.9 million, representing an increase of 52.7% compared with FY2019.-- The Group's revenue generated from its business lines are as follows:1) Revenue from property management services was RMB496.2 million, accounting for 64.6% of the total revenue, representing a year-on-year increase of 39.9% 2) Revenue from value-added services to non-property owners was RMB161.2 million, accounting for 21.0% of total revenue, representing an increase of 32.8% compared with last year 3) Revenue from community value-added services surged by 3.1 times to RMB110.4 million, accounting for 14.4...

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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...

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Redsun Services is Given ‘Buy’ Rating by CMB International, Target Price Rises to HK$9.17

indie
2 minutes

HONG KONG, Dec 22, 2020 - (ACN Newswire) - Redsun Services Group Limited ("Redsun Services" or the "Group"; stock code: 1971), a fast-growing comprehensive community service provider focused on the Yangtze River Delta, has been given a "Buy" rating by CMB International, along with an increase in its target price to HK$9.17. CMB International believes that Redsun Services will deliver stronger-than-expected 2020 (Estimated) core profits (excluding listing expenses), seen spiking by 50% year-on-year to RMB88 million against market expectation of 40% growth. The Group's managed GFA will grow by 60% year-on-year and reach 25,000,000 sq.m. in 2020. Value-added services could become a new growth engine. Redsun Services achieved a robust 261% growth in its agent business in the first half of 2020, with gross profit margin surpassing 50%. In the second half of 2020, the advertisement business is expected to recover fast and will further drive revenue growth. Bolstered by growth in GFA under management and improving penetration of its value-added services, CMB International expects community value-added services to spike by a CAGR of 134% and reach RMB343 million in 2020, accounting for 35%...

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Evergrande Property Services Group Limited Announces Details of Proposed Listing on SEHK Main Board

indie
13 minutes

HONG KONG, Nov 22, 2020 - (ACN Newswire) - Evergrande Property Services Group Limited ("Evergrande Property" or "the Group"), one of the largest and fastest-growing comprehensive property management services providers in China, has today announced the details of its proposed listing on the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK").(from left to right): Mr. Wang Zhen, Executive Director and Deputy General Manager of Evergrande Property Services; Mr. Hu Liang, Executive Director and General Manager of Evergrande Property Services; Ms. An Lihong, Executive Director and Deputy General Manager of Evergrande Property Services(from left to right): Mr. Wang Zhen, Executive Director and Deputy General Manager of Evergrande Property Services; Mr. Hu Liang, Executive Director and General Manager of Evergrande Property Services; Ms. An Lihong, Executive Director and Deputy General Manager of Evergrande Property Services(from left to right): Mr. John Lee, Managing Director, Vice Chairman of Global Banking Asia and Head of Greater China of UBS; Mr. Wang Zhen, Executive Director and Deputy General Manager of Evergrande Property Services; Mr. Hu Liang, Executive Director and G...