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Public company info - Zhenro Services Group Limited , 06958.HK
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Zhenro Services Group Limited, 06958.HK - Company Profile
Chairman Huang Xianzhi
Share Issued (share) 1,038,000,000
Par Currency U.S. Dollar
Par Value 0.002
Industry Property Management & Agency
Corporate Profile Business Summary: The group is a nationwide, fast-growing and comprehensive property management service provider in China, offering diversified property management services for residential and non-residential properties. Performance for the year: The group's revenue increased by 67.2% from RMB272.9 million in 2017 to RMB456.3 million in 2018, which is higher than the average revenue growth rate of 19.4% for the Top 100 Property Management Companies for the same period reported by CIA. the group's revenue increased further by 57.0% to RMB716.2 million in 2019. the group's net profit increased by 94.6% from RMB20.3 million in 2017 to RMB39.5 million in 2018, which is higher than the average net profit growth rate of 26.0% for the Top 100 Property Management Companies for the same period reported by CIA. the group's net profit increased significantly to RMB109.2 million in 2019. Business Review According to CIA, the group were ranked 19th and 22nd among the 2020 and 2019 Top 100 Property Management Companies in China in terms of overall strength1 (2020中國物業服務百強企業第19名和2019中國物業服務百強企業第22名) in 2020 and 2019, respectively. According to CIA, The group is one of the fastest-growing property management companies in China. the group were ranked tenth and third in terms of growth rate of revenue and net profit for 2019, respectively, among the top 30 of the 2020 Top 100 Property Management Companies, and were ranked fourth and seventh in terms of growth rate of revenue and net profit for 2018, respectively, among the top 30 of the 2019 Top 100 Property Management Companies.1 According to Yihan Zhiku, the group were recognized as one of the Top Ten of the 2019 Community Service Providers in China by Growth (2019中國社區服務商成長性10強) in 2019. Having been providing property management services in China for over 15 years, the group believe that the group's extensive industry experience differentiates us from many of the group's competitors. As of December 31, 2019, the group had expanded the group's business portfolio to four major regions in China, namely, the Yangtze River Delta Region, the Western Straits Region, the Midwest Region and the Bohai Rim Region. the group believe that these four major regions are among the most populated and economic prosperous regions in China with high economic growth prospects. the group adopted a growth strategy to further expand the group's market presence in existing cities in which the group operate and to enter into new cities in the four major regions that the group consider to be of high economic growth potential. As of December 31, 2019, the group had 149 projects under the group's management, covering 21 cities in the four major regions, with a total GFA under management of approximately 22.9 million sq.m. and a total contracted GFA of approximately 37.0 million sq.m. The group provide diversified property management services for both residential and nonresidential properties through the group's three main business lines, namely, property management services, value-added services to non-property owners and community value-added services. the group have established a long-term cooperative relationship with Zhenro, particularly Zhenro Property Group, and provided services to all of the properties developed by Zhenro Property Group during the Track Record Period. the group also began to provide property management services to projects developed by Independent Third Parties in 2017. In addition to residential properties, the group's project portfolio also includes non-residential properties, such as government and public facilities, office buildings, industrial parks and schools. the group strive to build the group's own property management service ecosystem with diversified, comprehensive and high-quality services that encompass the entire value chain of property management. the group's services primarily include the following: • Property management services. the group provide a wide range of property management services to property developers, property owners and residents. the group's property management services primarily include (i) cleaning services, (ii) security services, (iii) landscaping services and (iv) repair and maintenance services at both residential and non-residential properties. • Value-added services to non-property owners. the group offer a comprehensive range of property-related business solutions 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 (involving assistance to property developers in showcasing and marketing their properties, cleaning and maintenance, security and visitor management), (ii) additional tailored services customized to meet specific needs of the group's customers on an as-needed basis, (iii) housing repair services, (iv) preliminary planning and design consultancy services and (v) pre-delivery inspection services. • Community value-added services. the group provide community value-added services to property owners and residents. the group's community value-added services primarily include (i) home-living services, (ii) car park management, leasing assistance and other services and (iii) common area value-added services to improve the living experience of the group's customers and to maintain and enhance the value of their properties. As a result of the group's efficient operation and quality services, the group experienced continual and rapid growth during the Track Record Period. the group's revenue increased by 67.2% from RMB272.9 million in 2017 to RMB456.3 million in 2018, which is higher than the average revenue growth rate of 19.4% for the Top 100 Property Management Companies for the same period reported by CIA. the group's revenue increased further by 57.0% to RMB716.2 million in 2019. the group's net profit increased by 94.6% from RMB20.3 million in 2017 to RMB39.5 million in 2018, which is higher than the average net profit growth rate of 26.0% for the Top 100 Property Management Companies for the same period reported by CIA. the group's net profit increased significantly to RMB109.2 million in 2019. Prospects: The group intend to build upon the group's existing market positions and further expand the group's business nationwide. The group is committed to becoming one of the top ten property management service providers in terms of overall strength in China in mid- to long-term. To achieve this goal, the group have formulated a business strategy entitled the “1234 Plan.” Under this plan, “one” represents the group's mid- to long-term goal of becoming one of the top ten property management service providers in China in terms of overall strength; “two” represents the group's dual-property type business model; “three” represents the three core capabilities that the group deem instrumental to the group's future success, namely, teamwork, operational efficiency and ability to innovate; and “four” represents the four major regions in which the group currently operate and intend to further expand. More specifically, the group intend to implement the following strategies: 1、Expand the group's project portfolio, explore strategic investment, acquisition and cooperation opportunities and grow the group's business scale and market share 2、Stay innovative and continue to develop diversified value-added services 3、Further enhance operational efficiency with upgraded information technology systems to maximize cost efficiency 4、Continue to attract, train and retain talent

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