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Public company info - Zhong Ao Home Group Ltd. , 01538.HK

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Zhong Ao Home Group Ltd., 01538.HK - Company Profile
Chairman Liu Jian
Share Issued (share) 855,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Property Management & Agency
Corporate Profile Business Summary: The group is principally engaged in the provision of property management services, sales assistance services, provision of cleaning and greening services and provision of real estate agency services in the People's Republic of China (the "PRC"). Performance for the year: The Group’s 2019 audited profit attributable to owners of the parent amounted to RMB108.6 million (2018: RMB96.1million), an increase of 13.0% as compared to 2018. During the year ended 31 December 2019, the Group recorded revenue of approximately RMB1,519.5 million, representing an increase of 48.5% over the year 2018. The Group’s gross profit for the year ended 31 December 2019 was RMB403.4 million, comparing to RMB282.1 million in 2018, representing an increase of RMB121.3 million, or 43.0%. Business Review Property management services The Group primarily provides property developers and property owners with a broad range of property management services to mainly residential properties, commercial and government buildings. Services provided by the Group include standard property management services and also ancillary services such as cleaning, gardening, security, repair and maintenance and butler services. Through its butler services, the Group provides personalized and premium property management services to residents with its trained butlers onsite. While its primary and longterm business focus is on the residential property market, the Group also provides services to non-residential properties, including both stand-alone non-residential properties and properties associated with residential properties, such as schools and commercial buildings. The Group believes that service quality is fundamental to establish a solid foundation to support the growth of the Group’s business. The Group holds various qualifications and licenses in respect of property management services, namely CMS31950, IEC27001, ISO50001, ISO 9001, ISO 14001, OHSAS 18001 and level one property management qualification certificate. As of 31 December 2019, the Group had expanded its presence to 45 cities in China where it was contracted to manage a total of 584 residential properties and non-residential premises such as commercial or government buildings with an aggregate contracted GFA of approximately 72.0 million sq.m. This represented an increase of 2.1% compared to the aggregate contracted GFA of approximately 70.5 million sq.m. as at 31 December 2018. In relation to the delivered GFA of approximately 65.4 million sq.m. in 2019, the increase represented a growth of 14.9% compared to the delivered GFA of approximately 56.9 million sq.m. as at 31 December 2018. The Group strives to develop new business relationships from the existing customer base and own network in order to provide strong organic growth to the Group. In addition to organic growth, the Group continues to identify the right acquisition targets to strengthen its portfolio and increase geographic presence across China. Sales assistance services The Group provides property developers with sales assistance services by deploying on-site staff at the sales centres to maintain the conditions of the centres and provide timely assistance to facilitate various aspects of the sales process. The Group generally continues to serve the property developer clients after the expiration of the sales assistance contracts by entering into preliminary property management contracts. Sales assistance serves as an important source of business for the property management services. Cleaning and greening services The Group provides property developers and property owners with a series of indoor and outdoor environmental cleaning, greening and maintenance. This business division also provides services to the property developers and property owners of the property management business division. Accordingly, segment result of cleaning and greening division is evaluated by the Group’s management on services as subcontracted from the property management business division. Real estate agency services The Group provides property developers and property owners with agency services on the leasing and sales assistance of residential properties and retail units. Other business Other businesses comprise landscaping design and construction services, engineering services, catering services and the sale of engineering spare parts. Prospects: Looking forward, the Group will continue to maintain its own advantage as an independent property management company, competing with counterparts in the market by its high quality service and operation efficiency, actively establishing stable partnership with leading property developers in all regions, exploring potential new development projects and pursuing properties which have owners’ association been established. When right opportunities arise, the Group will accelerate its expansion of business scope and coverage in China through acquisition of property management companies and other service companies which provide services related to communities. In addition, The group will closely persist in the philosophy of stable development by gradually expanding the upstream and downstream industry chain, as well as strategically realigning The group’s industry foothold. On the one hand, The group expect to penetrate into the first-hand and second-hand agency services, while further advancing the downstream sector of the industry chain by acquiring firms specialized in cleaning and landscaping maintenance as well as security services. In the next few years, The group will gradually ride on The group’s strength to extend The group’s reach along the upstream and downstream of the industry chain with a focus on property management. In doing so, the Group will ultimately evolve into an integrated operator offering the whole-industry community services.

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