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Public company info - Ronshine Service Holding Co. Ltd , 02207.HK
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Ronshine Service Holding Co. Ltd, 02207.HK - Company Profile
Chairman Ou Zonghong
Share Issued (share) 500,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Property Management & Agency
Corporate Profile Business Summary: The group is a comprehensive and fast-growing property management services provider in China. Performance for the year: The group’s revenue increased by 25.3% from RMB413.6 million for 2018 to RMB518.4 million for 2019, and further increased by 44.7% to RMB750.4 million for 2020 as compared to 2019, representing a CAGR of approximately 34.7% from 2018 to 2020. the group’s net profit increased significantly from RMB33.8 million for the year ended December 31, 2018 to RMB71.5 million for 2019, and further increased to RMB85.1 million for 2020, representing a CAGR of 58.7% from 2018 to 2020. Business Review Offering diversified property management services for both residential and nonresidential properties. According to CIA, the group were ranked 19th, 20th and 24th among the Top 100 Property Management Companies in the PRC in terms of overall strength(1) in 2021, 2020 and 2019 (2021中國物業服務百強企業第19名，2020中國物業服務百強企業第 20名和2019年中國物業服務百強企業第24名), respectively. According to CIA, the group were one of the top 10 companies among the Top 100 Property Management Companies in the PRC in terms of growth (中國物業服務百強企業成長性10強) in 2019, and one of the leading companies among the Top 100 Property Management Companies in the PRC in terms of growth (中國物 業服務百強成長性領先企業) in 2020. In 2021, the group were recognized as one of the leading companies in terms of service quality among the Top 100 Property Management Companies in the PRC (2021中國物業服務百強服務質量領先企業), one of the leading property management companies in the PRC in terms of marketalisation of business (2021中國物業管理行業市場化 運營領先企業) and one of the leading property management companies in providing high-end property management services in the PRC (2021年中國高端物業服務領先企業) by CIA. Please see “Industry Overview—Competition—Competitive Landscape” for more details on the group’s recognitions. The group have established national presence in the PRC market by not only having a strong foothold in the Western Straits Region and Yangtze River Delta Region, but also rapidly expanding to Other Regions in the PRC market. As of December 31, 2020, the group had 119 projects under the group’s management and 91 projects the group were contracted to manage but not yet delivered to us, covering 44 cities in the two major regions and Other Regions, with a total GFA under management of approximately 19.9 million sq.m. and a total contracted GFA of approximately 38.2 million sq.m. The group provide comprehensive property management services as the group offer diversified property management services for both residential and non-residential properties, including a wide range of properties, such as government and public facilities, office buildings, commercial complex, hospitals, bank, schools and industrial parks. the group is dedicated to provide professional and quality services by adhering to the group’s service philosophy of “working hard to bring satisfaction and affection to the group’s customers” (“用心讓您滿意, 努力讓您感動”), and create “quality, cozy and loving” (“有品質、有溫度、有愛”) communities that would bring better living experiences to the group’s customers. To closely cater to diversified needs from certain of the group’s customers, the group introduced the ROYEEDS (融御) brand in 2017, which is aimed to provide tailored services to meet the group’s customers’ needs for high-end communities. The group have established a long-term cooperative relationship with Ronshine China Group and provided services to projects developed by Ronshine China Group during the Track Record Period. the group also began to provide property management services to projects developed by independent third-party property developers in 2016. the group have experienced fast growth in terms of revenue as the group continuously expanded the group’s business operations and scale. In 2018, 2019 and 2020, the total revenue generated from property management services provided in relation to projects developed by Ronshine China Group and its joint ventures and associates and companies beneficially owned by Mr. Ou amounted to RMB180.6 million, RMB215.3 million and RMB265.6 million, respectively, accounting for 76.3%, 75.6% and 72.3%, respectively, of the group’s total revenue generated from property management services for the same year, while the total revenue generated from property management services provided in relation to projects developed by Independent Third Parties amounted to RMB56.0 million, RMB69.7 million and RMB101.8 million, respectively, accounting for 23.7%, 24.4% and 27.7%, respectively, of the group’s total revenue generated from property management services for the same year. In 2018, 2019 and 2020, the total revenue generated from value-added services to non-property owners provided in relation to projects developed by Ronshine China Group and its joint ventures and associates and companies beneficially owned by Mr. Ou amounted to RMB140.3 million, RMB170.2 million and RMB290.3 million, respectively, accounting for 81.2%, 75.6% and 78.8%, respectively of the group’s total revenue generated from value-added services to non-property owners for the same year, while the total revenue generated from value-added services to non-property owners provided in relation to projects developed by Independent Third Party amounted to RMB32.4 million, RMB54.8 million and RMB77.9 million, respectively, accounting for 18.8%, 24.4% and 21.2%, respectively, of the group’s total revenue generated from value-added services to non-property owners for the same year. THE GROUP’S BUSINESS MODEL During the Track Record Period, the group generated revenue primarily from three business lines: (i) property management services, (ii) value-added services to non-property owners, and (iii) community value-added services. • Property management services. the group provide a wide range of property management services to property developers, owners and residents. the group’s property management services primarily consist of cleaning, security, greening, car park management, and repair and maintenance services. the group’s portfolio of managed properties comprises residential properties and non-residential properties, which primarily include government and public facilities, office buildings, commercial complex, hospitals, bank, schools and industrial parks. • Value-added services to non-property owners. the group provide a series of value-added services to non-property owners, which primarily include property developers. the group’s value-added services to non-property owners primarily consist of (i) sales assistance services; (ii) preliminary planning, design consultancy and pre-delivery services; and (iii) driving and vehicle dispatching and managing services, under which the group provide drivers and related car management services to the group’s customers on an on-demand basis according to the terms of relevant agreements. • Community value-added services. the group provide a wide range of community valueadded services to property owners and residents. the group’s community value-added services primarily consist of (i) community shopping services (“Joyful Life Service”) (和美生活); (ii) decoration and furnishing services and home maintenance services (“Joyful Living Service”) (和美易居); (iii) property agency services (“Joyful Leasing and Sale Service”) (和美租售); and (iv) ancillary services for common areas, which primarily include advertising in and rental of common areas of residential properties under the group’s management. Prospects: The group intend to implement the following strategies to further strengthen the group’s market position in China’s property management industry: • Diversify the group’s project portfolio and expand the group’s business coverage by pursuing strategic investments and acquisitions; • Continue to implement the group’s “1+N” strategy, expand the group’s value-added services and offer tailored services to further diversify the group’s revenue streams; • Focus on technology innovation and further upgrade of the group’s intelligent information technology systems to maximize operational efficiency and enhance customer experience; • Leverage the group’s experience at managing mid- to high-end properties to further build the group’s ROYEEDS (融御) brand into a leading property management brand for high-end properties; and • Continue to attract, train and retain professional talents and further enhance the group’s internal talent training programs to support the group’s rapid expansion.

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