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Public company info - Redsun Services Group Limited , 01971.HK
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Redsun Services Group Limited, 01971.HK - Company Profile
Chairman HE Jie
Share Issued (share) 415,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Property Management & Agency
Corporate Profile Business Summary: During the year, the Group was mainly involved in the provision of property management services, value-added services to non-property owners, and community value-added services. Performance for the year: During the Reporting Period, the Group’s revenue amounted to RMB767.9 million, representing an increase of RMB264.9 million or 52.7% from RMB503.0 million for the corresponding period in 2019. Profit for the Reporting Period was RMB73.3 million, representing an increase of 28.5% as compared with RMB57.1 million for the corresponding period of 2019. Profit for the Reporting Period attributable to equity shareholders of the Company was RMB69.8 million, representing an increase of 18.1% as compared with RMB59.1 million for the corresponding period of 2019. Business Review THE GROUP’S BUSINESS MODEL Since the Group’s inception in Nanjing in 2003, the Group have grown from a property management service provider to a well-recognized community service provider with national presence in China. The Group provide a wide range of property management services to property owners, residents and tenants. The Group also provide value-added services to non-property owners, primarily property developers, and other property management companies and community value-added services to residential property owners and residents. 1) Property management services: The Group provide property owners, residents and tenants with a wide range of property management services, including, among others, public order, cleaning, greening, facility management, and repairs and maintenance services. The Group’s portfolio of managed properties comprises of residential, commercial and other properties. In addition to residential properties, the Group also provide property management services to a variety of commercial properties, such as shopping malls, home improvement and furnishings malls, hotels and theme parks. The Group also provide property management services to other properties such as office buildings and schools. 2) Value-added services to non-property owners: The Group also provide value-added services to non-property owners, including (i) consulting services to other property management companies, (ii) preliminary planning and design consultancy services to property developers for property development projects, (iii) sales assistance services to property developers to assist with their sales and marketing activities at property sales venues and display units, including visitor reception, cleaning, security inspection and maintenance; and (iv) other value-added services to property developers, such as inspection services. 3) Community value-added services: The Group provide community value-added services to residential property owners and residents to improve their living experiences with an aim to preserve and increase the value of their properties. The Group’s community valueadded services for residential properties primarily include, among others, (i) property brokerage services, (ii) property decoration services, (iii) community convenience services, (iv) common area value-added services and (v) assets management services. Prospects: On 5 January 2021, 10 ministries and commissions of the Chinese government including the Ministry of Housing and Urban-Rural Development, the Central Political and Legal Affairs Commission and the Office of the Central Guidance Commission on Building Spiritual Civilization jointly published the Notice Concerning the Enhancement and Improvement of Residential Property Management, providing policy support to the upgrade to high-quality and diversified property services, encouraging property management enterprises to uplift their property management service standards and to develop life-catering services, pinpointing the inclusion of property management to the system of basic social governance, and further reinforcing the trend of supervision and management of property services. On 12 March 2021, the Outline of the Fourteenth Five-Year Plan of National Economic and Social Development and the Long-term Goals of Year 2035 of the People’s Republic of China was promulgated, pinpointing the need to, under the guiding principle of uplifting convenience and improving service experience, foster the upgrade to high-quality and diversified life-catering services; foster the parallel development and intensive integration of online and offline public services, and encourage the power in society to participate in “Internet + Public Services”, and innovate the service delivery models as well as products; enhance the novel urbanization strategy, whereby the quality of urbanization development can be uplifted, and the coverage, quality and level of standardization of property management services can be enhanced. Year 2021 will represent the 100th anniversary of the establishment of the Communist Party of China; the start of the Fourteenth Five-Year Plan of China; the commencement of the new stage of China’s full-swing construction of the modernization of its socialist development; and the 40th anniversary of the development of property management sector in China. In 2021, the Group will continue to adhere to the original vision of “making lives warmer (讓生活更有溫度)” and the principle of customer-oriented, treat customers with sincerity and provide them with excellent services, and focus on the three dimensions of “expanding scale, increasing revenue and improving services”, aiming at achieving a rapid growth with quality, and becoming a venerable good life operator. 1. Expansion of business scale, layout of multi-sectors, depth in market expansion, and capturing of market share The Group remain the Group’s adherence to “penetrating the Greater Jiangsu Region, strengthening foothold in the Yangtze River Delta Region and expanding into major metropolitan areas” (做透大江蘇、深耕長三角、佈局都市圈). With a combination of mergers, acquisitions and full entrustment (market-oriented bidding extension), the Group will aim at achieving leap-frog development in scale expansion. Whilst consolidating the Group’s position in the Yangtze River Delta, the Group will ceaselessly identify acquisition opportunities in central China, southwestern China, midland and the Greater Bay Area, and will identify those property management companies with good management standards and operating conditions as the Group’s potential target for acquisition. The Group will select working partners of high quality and enter into more strategic cooperation agreements to explore new businesses in project consultation, cooperation and joint ventures, to widen the spectrum of approaches to business expansion; optimize structure for an all-format layout, in order to tap more niche markets, expedite the expansion of non-residential management properties, expand in a horizontal as well as a vertical way, to further extend the Group’s service capability, diversify the Group’s management formats and service contents, expand and optimize the Group’s professional development team, recruit outstanding professionals from benchmarking companies, actively participate in professional training specifically for the industry, and attain a higher level of professionalism; engage in extensive strategic collaboration with property developers to achieve vertical expansion by means of stepping up preliminary planning and design, construction supervision, inspection for each unit, sales assistance service capability and thereby achieving full coverage of the entire industry chain of the life cycle of design, supervision, sales assistance and property services, and in turn gaining more opportunities for acquiring property management projects. 2. Customer-centered philosophy with refined services to create a happy community featured with “making lives warmer” Under the “customer-centered” service philosophy, the Group think from the perspectives of property owners to take their actual needs into consideration. The Group will solidify the Group’s product lines, upon which the Group will keep upgrading the Group’s property service products throughout the entire product lifecycle, for a precise output of service deliverables with two lines of services namely residential and non-residential projects, achieve rapid replication of service standards, to safeguard customer satisfaction. Accretion of the Group’s service culture is constantly in progress. By means of mechanism, training and incentives for innovation, the Group try to create a self-starting atmosphere of “changing your life with your hands”, form a service culture of learning and innovation, and form the Group’s service capability in line with the needs of rapid growth. While attending to service quality, the Group is more concerned with the ability of continuous supply of quality services. Refined management is in place, under which the system of customer service standards for the whole lifecycle of products will be upgraded on a constant basis and service processes will be optimized, to fabricate service signposts and attain the systematic and standardized development of services for the entire lifecycle. Meanwhile, through the system of instant feedback from customers, staff members’ self-starting capability is mobilized, and customers are enabled to truly experience the value of property services and in turn their happy lives; and a brand promotion system is formed in a structured way, enabling the effective dissemination of brand value and the full utilization of brand names. 3. Empowerment of technology, diversification of community ecology, upgrading of lifecatering community services, and thorough improvement of operational efficiency Based on the motto of “making lives warmer”, the Group will increase investment in intelligent technology to improve quality and operational efficiency of those communities that the Group serve, by further upgrading the Group’s internal management system. The constant upgrading of intra-enterprise smart system, management and control platform of panoramic plan, Hongzhi Cloud Monitor, community commercial online mall and online management and control platform of investment and development and a system of recruitment, procurement and treasury management system, to ensure the classified launch of products, precise positioning of projects, accurate recap of the genuine service needs of customers, to provide prompt services and products that cater to customers’ needs and build up a “product prototype of Redsun Services”, while at the same time uplift product standardization, concentration, digitization and automation, to ensure that quality services are delivered in a consistent way, so that management efficiency can be enhanced while operating costs are kept under control. In addition, the service contents will be enriched to constantly extend the scope of value-added services, with an all-round layout that develops in a diversified pattern throughout the entire lifecycle in relation to the property owners, establish a social/commercial ecological chain, with constant upgrading of capability of consolidating and operating community resources in a multi-format way with multiple customer bases, thereby forming the core strategy of community value-added businesses, uplifting per-household consumption, coverage rate of customers, per-person profit making ratio, in addition to technological empowerment, support of multi-format operation and upgrading of service quality and operational efficiency. Into 2021, under the regulatory requirements of the policy, in line with the further development of the property management sector, and the increasing needs for services, the property management sector will still be in a favorable state of high growth and high certainty with the support of government policies. From the Greater Jiangsu Region, to the Yangtze River Delta Region, and to the whole country, Redsun Services will provide on its customers with warm property management services, upgraded community value-added services, and deeply-filled value-added services to non-property owners, and reward on its staff members and shareholders with high-quality sustainable growth.

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