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Public company info - Landsea Green Life Service Company Limited , 01965.HK
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Landsea Green Life Service Company Limited, 01965.HK - Company Profile
Chairman TIAN Ming
Share Issued (share) 411,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Property Management & Agency
Corporate Profile Business Summary: Established in 2005, the group is a growing property management service provider well-established in the Yangtze River Delta that provides diversified types of property management services and value-added services. Performance for the year: The group’s total revenue increased by 39.6% from RMB310.1 million for FY2018 to RMB432.8 million for FY2019 and increased by 38.8% to RMB600.9 million for FY2020 whilst the group’s net profit for the year increased by 10.6% from RMB31.0 million for FY2018 to RMB34.3 million for FY2019 and increased by 91.3% to RMB65.6 million for FY2020. Business Review According to CIA, the group ranked the 24th among the “2021 Top 100 Property Management Companies in the PRC (2021中國物業服務百強企業)” in terms of overall strength, considering factors including respective property management scale, operational performance, service quality and growth potential. the group strive to provide high quality and featured property management and value-added services to various customers. the group’s competitiveness and service quality have earned us numerous recognitions. the group received the “China Property Management Company Providing Featured Services” (中國物業服務特色品牌企業) and “Leading Property Management Service Brand Enterprise in East China” (中國華東物業服務領先品牌) in 2017, and the group have been bestowed these two honours for four consecutive years. the group received “Top 100 Property Management Companies in China by Service Quality” (中國物業服務百強—服務質 量領先企業) in 2018, and the group have been conferred this honour for three consecutive years. the group are also an established property management service provider in providing property management services for green buildings. According to CIA, the term “green building(s)” is commonly used to refer to properties that have been awarded the “Green Building Labels” (綠色建築標識) by MOHURD and its local administrative authorities in the PRC or properties that are recognised by internationally recognised environmental and building sustainable certification evaluation systems (including BREEAM In-Use V6 and LEED). For further details, please refer to “Industry Overview – The PRC Property Management Industry – Future Development Trends of the PRC Property Management Industry – Fresh development opportunities for property management of green buildings” in this document. In terms of the GFA under management ratio of green buildings with an accreditation of two stars or above, the group ranked third among the Top 100 Property Management Companies in the PRC according to CIA. Based on the CIA Report, the group ranked seventh among the Top 100 Property Management Companies in the PRC in terms of the GFA under management of green buildings in 2020. As of 31 December 2020, the group’s property management services covered 21 cities, including 15 cities in the Yangtze River Delta and six other cities in the PRC. the group’s total GFA under management amounted to 17.3 million sq.m. with a total of 123 managed properties, including 102 residential properties and 21 non-residential properties, serving over 120,000 households as at 31 December 2020. Further, the group’s total contracted GFA amounted to 23.7 million sq.m. as at 31 December 2020. Apart from the group’s business, Mr. Tian, the group’s Controlling Shareholder, chairman of the Board and non-executive Director, is also interested in 50% of the total number of issued shares of Landsea Group Company and 57.94% of the total number of issued shares of Landsea Green Properties (stock code: 0106). Landsea is principally engaged in the businesses of property development (including provision of property development entrustment services), decoration engineering, architectural technologies, sales of construction materials, management of staffing and human resources for property projects, asset management and investment, provision of retirement and fitness services and operation of rental apartments. During the Track Record Period, all of Landsea’s property development business was conducted through Landsea Green Properties Group, which focuses on the development of green residential properties. Since the group’s establishment, the group have worked to develop a long and close working relationship between the group’s and Landsea. During the Track Record Period, the group’s provided property management services to a large majority of the properties developed by Landsea and properties that Landsea jointly developed with other independent third-party property developers in which Landsea may or may not have a controlling interest. As at 31 December 2018, 2019 and 2020, the total GFA of properties under the group’s management which were developed by Landsea and properties that Landsea jointly developed with other independent third-party property developers in which Landsea may or may not have a controlling interest amounted to 7.6 million sq.m., 8.6 million sq.m. and 10.0 million sq.m., respectively, representing 83.4%, 57.1% and 57.7% of the group’s total GFA under management as at the same dates, respectively. As at 31 December 2018, 2019 and 2020, the proportion of properties developed by Landsea and properties that Landsea jointly developed with other independent third-party property developers in which Landsea may or may not have a controlling interest to which the group provided property management services in terms of GFA under management was 97.7%, 98.0% and 98.3%, respectively. In addition to property management services, during the Track Record Period, the group were also engaged by Landsea Group and Landsea Green Properties Group (and their joint ventures and associates) to provide value-added services, including preliminary property management services for properties prior to their delivery to property owners, property management services for car park units and unsold, self-use or investment properties, house repairing services, property agency services, preliminary consultancy services and sales assistance services. The business relationship between the group’s and Landsea has been mutually beneficial and complementary, which is common among property management service providers and their related property development companies in the PRC. For further details, see “– Landsea, the group’s Controlling Shareholders and Continuing Connected Transactions” in this section and “Relationship with Controlling Shareholders” in this document. Prospects: The group’s business strategies for the group’s continuous development in the property management service industry are as follows: • Expand the group’s business scale through multiple channels; • Continue to enrich the group’s value-added services; • Continue to enhance the group’s user-centric and data-driven operation ability; • Continue to incentivise, retain and recruit talents in order to better the group’s human resources management; and • Enhance brand awareness and professionalise the group’s service.

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