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Public company info - China Resources Mixc Lifestyle Services Limited , 01209.HK
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China Resources Mixc Lifestyle Services Limited, 01209.HK - Company Profile
Chairman LI Xin
Share Issued (share) 2,283,000,000
Par Currency U.S. Dollar
Par Value 1.0E-5
Industry Property Management & Agency
Corporate Profile Business Summary: The group is a leading property management and commercial operational service provider in China. Performance for the year: In 2017, 2018 and 2019 and the six months ended June 30, 2019 and 2020, the group’s total revenue was RMB3,129.4 million, RMB4,431.7 million, RMB5,868.1 million, RMB2,640.6 million and RMB3,134.0 million, respectively. Business Review The group provide property management and value-added services to one of the largest portfolios of residential properties. the group also manage and operate a diversified and growing portfolio of commercial properties comprising shopping malls and office buildings. As of June 30, 2020, the GFA of the residential and commercial properties under the group’s property management services was approximately 106.6 million sq.m., and the GFA of the shopping malls under the group’s commercial operational services was approximately 5.6 million sq.m. According to Frost & Sullivan, the group ranked: • Fifth in terms of property management service revenue in 2019 among all PRC property management companies; • Second in terms of shopping mall property management service revenue in 2019 among all PRC shopping mall operational service providers; • First in terms of the number of managed luxury shopping malls in China in 2019 among shopping mall operational service providers; and • Second in terms of total revenue from shopping mall operational services market in the first six months of 2020 among all PRC shopping mall operational service providers. Capitalizing on the group’s leading brand, extensive resources and experience, outstanding technological capabilities, and appealing membership programs, together with CR Group, CR Land and other partners, The group is committed to developing a lifestyle service platform that is centered around living, shopping and working. Through the group’s platform, the group seek to improve property users’ quality of life and vitalize the property operations for asset owners. the group consider the group’s business model distinctive because of the following features: • “Multiple property types”: the group provide services to multiple types of properties, such as residential properties, shopping malls and office buildings as well as public facilities. • “All-customers”: the group believe in an “all-customers” approach because the group regard all users and owners who live, shop and work in the group’s managed properties as the group’s customers. • “Full spectrum of service offerings”: the group’s business has expanded beyond traditional property management services to the offering of comprehensive solutions to satisfy the needs of the group’s customers. • “Integrated ecosystem”: the group have been establishing an integrated ecosystem that provides comprehensive services for properties under the group’s management as well as their users. Properties under the group’s management are the foundation of the group’s ecosystem. the group aim to create greater value through integrating the space, business and people in the group’s ecosystem. • The group is one of the key contributors to CR Group and CR Land: CR Group is a key stateowned conglomerate with five main business areas: consumer products; healthcare; urban construction and operation; energy services; technology and finance. CR Land, a strategic business unit of CR Group, is an integrated operator in urban investment, development and operation. the group benefit from strong synergies with CR Group and CR Land and share their visions. The group’s Services The group’s business is rooted in the property development and investment business of CR Land, the group’s Controlling Shareholder, when the group started to provide property management and commercial operational services for properties developed and owned by CR Land. the group have since expanded to provide comprehensive services for multiple types of properties and have been developing an integrated lifestyle service platform. Residential Property Management Services The group provide management services for residential properties and other non-commercial properties, such as stadiums, parks and industrial parks, and bring various services to families and residents in the communities to meet their living needs. the group’s residential property management services can be categorized as follows: • Property management services, including security, cleaning and greening, as well as repair and maintenance services to (i) property developers for undelivered portion of properties, and (ii) property owners, property owners’ associations or residents for properties sold and delivered; • Value-added services to property developers, including consultancy, preliminary preparation, and pre-delivery marketing services; and • Community value-added services, including community living services, brokerage services for second-hand home sales, new unit sales and home leasing, and asset operation and investment services for parking spaces and other properties. Commercial Operational and Property Management Services Commercial properties under the group’s management include shopping malls and office buildings. For shopping malls, the group provide: • Commercial operational services, including pre-opening management and operation management services; • Property management and other services, principally including security, cleaning and greening, repair and maintenance, as well as other value-added services; and • Commercial subleasing services, where the group lease certain quality shopping malls from their owners and sublease to tenants, such as retail stores and supermarkets. Historically, the group provided commercial operational services to shopping malls in the form of interdepartment services as part of CR Land’s integrated commercial property development and investment business without charging separate fees. From January 2020, the group gradually separated the commercial operational services as an independent business segment as the group’s future revenue driver and began to recognize revenue from this business. During the first half of 2020, substantially all of the shopping malls to which the group provided commercial operational services were owned or developed by CR Group and CR Land. The key terms of the commercial operational service contracts between us and property owners mainly include the scope of services, calculation of commission based service fees, rights and obligations of property owners and dispute resolution. For office buildings, the group provide property management services, including security, cleaning and greening, repair and maintenance, as well as other value-added services. Since the second half of 2020, the group have started to provide commercial operational services to office buildings, such as tenant sourcing, asset management and operational services and opening services. Prospects: In order to achieve the group’s goals, the group have formulated the following strategies: • Accelerate the group’s expansion and consolidate the group’s leading market position; • Pursue strategic investments in the group’s ecosystem; • Further strengthen the group’s membership programs; • Continue to invest in the group’s technology capabilities; • Strengthen the group’s synergies with CR Group and CR Land; and • Enhance the group’s human resources through recruitment, training and motivation.

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