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Public company info - Hevol Services Group Co. Limited , 06093.HK
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Hevol Services Group Co. Limited, 06093.HK - Company Profile
Chairman Liu Jiang
Share Issued (share) 560,000,000
Par Currency U.S. Dollar
Par Value 1.0E-5
Industry Property Management & Agency
Corporate Profile Business Summary: The group is a reputable market player in the property management industry in China providing property management services, community-related services and property developer-related services in the PRC for more than 17 years. Performance for the year: The total revenue of the Group for the year ended 31 December 2019 increased by 10.6% to approximately RMB248.3 million from approximately RMB224.5 million for the year ended 31 December 2018. Gross profit of the Group for the year ended 31 December 2019 increased by 4.5% to approximately RMB84.1 million from approximately RMB80.5 million for the year ended 31 December 2018. Gross profit margin decreased to 33.9% for the year ended 31 December 2019 from 35.9% compared to 2018. Profit after income tax for the year ended 31 December 2019 amounted to approximately RMB13.8 million compared to approximately RMB16.9 million for the year ended 31 December 2018. The adjusted profit after income tax (excluding listing expenses) for the year ended 31 December 2019 increased by 10.2% to approximately RMB31.5 million from approximately RMB28.6 million for the year ended 31 December 2018. Earnings per share attributable to equity holders of the Company amounted to RMB3.97 cents for the year ended 31 December 2019 (2018: RMB5.63 cents). Business Review According to the China Index Academy, it was ranked 44th among the “2019 Top 100 Property Management Enterprises” (2019 中國物業服務百強企業) in terms of overall strength of property management (中國物業管理綜合實 力) in 2019, and it was considered as a growing China Top 100 Property Management Company from 2017 to 2019 in terms of overall strength of property management based on certain key factors such as property management scale, business performance, service quality, development potential and social responsibility. As at 31 December 2019, the Group managed 36 property management projects across 11 cities in the PRC with a total contracted gross floor area (“GFA”) of over 8.2 million sq.m. and a total revenue-bearing GFA of 6.6 million sq.m.. In December 2019, the Group entered into a sale and purchase agreement to acquire 70% equity interest of Shanghai Tongjin with a consideration of RMB29.6 million. After the acquisition, the total number of the Group’s property management projects is increased to 70, the GFA of properties under management is increased to approximately 11.9 million sq.m. and the total revenue-bearing GFA is approximately 10.0 million sq.m. The geographical coverage in China is expanded to 16 cities. The Group’s coverage of geographical regions in China now include the northern region, southwest region, northeast region, southern region and east region. The Group believes that the acquisition is a cost-effective way to grow its service offerings and property management portfolio in new geographic markets. The acquisition can create synergies with the business of the Group by combining the existing strength and experience of Shanghai Tongjin in property management in the Yangtze River Delta region of the PRC. The Group will be able to further enhance its market share and brand influence and fill the market gap in the region, expand the scope and size of its property management business and improve its business growth and profitability. The management of the Group strive to provide high-quality services to its customers through its standardised and smart management process which allows the Group to strengthen its operational efficiency and effective control over its costs. Through the provision of property management services, the Group has achieved revenue growth, expanded its business and established its loyal customer base, all of which serve as a solid foundation for the provision and further development of the Group’s value-added services. The Group’s community value-added services complement its property management services and enhance the satisfaction and loyalty of property owners and residents. The Group’s value-added services to non-property owners complement its property management services through providing sales assistance services to property developers during the development and selling phase of their properties. The skills and knowledge that the Group acquire throughout the process help its management to understand the changing requirements for property management service providers. The Group has strong capabilities to provide service offerings which meet its customers’ needs so as to diversify its revenue base and improve its market position. Property Management Services The Group provides a range of property management services to property owners and residents, as well as property developers, including, among others, security, cleaning, greening, gardening services as well as repair and maintenance services, with a focus on residential communities. The Group’s property management portfolio also covers other types of properties such as commercial properties. As at 31 December 2019, the Group managed 36 property management projects with a total revenue-bearing GFA of 6.6 million sq.m., covering 11 cities in the PRC across four geographical regions in China, including northern region, southwest region, northeast region and southern region. Community value-added services As an extension of the Group’s property management services business, it provides community value-added services to property owners and residents for the property management projects under the Group’s management. The Group’s community value-added services help to address the lifestyle and daily needs of the property owners and residents, to enhance their customer experience, satisfaction and royalty, as well as to create a healthier and more convenient living community. The Group mainly provides three types of community value-added services, namely, (i) home-living services, (ii) leasing of car parking space, and (iii) leasing of common facilities. The Group provides home-living services such as property repair and maintenance services, cleaning, interior decoration, collection of electricity tariffs, purchase assistance, as well as accommodation and catering services to property owners upon request. The Group also leases out common areas such as swimming pools, car parking spaces and advertising spaces to third party contractors to generate stable revenue stream for its business. The Group is devoted to cultivate a harmonious and closely-knitted community culture. The Group organises a wide range of community cultural activities on a regular basis, including community sports events, community carnivals, elderly care and community festival celebrations for residents in its property management projects. Value-added services to non-property owners The Group is committed to expanding its value-added services to non-property owners and diversifying its sources of revenue. The Group offers comprehensive supporting services such as sales assistance services and management consultation services for the property development projects developed by property developers. For example, the Group provides display unit management services, market planning services and visitor reception services to property developers during the sales and marketing phase of these property management projects in order to facilitate the sale of those development projects. Provision of value-added services to non-property owners can help the Group to diversify its business segments, understand the needs of property developers and strengthen its knowledge on various aspects of property management. Prospects: Looking forward, the Group will continue to actively explore cooperation with high-quality property management service companies to optimise The group’s regional roadmap. At the same time, the Group will further strengthen the standardisation and smart management services, upgrade the value-added service business, and seize opportunities for diversified business growth. The Group will develop diversified property management services and continue to improve service quality, to consolidate and further enhance the Group’s competitiveness and brand recognition in the property management service industry in the PRC, create greater value for the community and greater returns for the Shareholders.

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