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01153 佳源服務
Jiayuan Services
Listing Date2020/12/09
Listing Price3.860
 
Quote
Subscription Result
  • Subscription Rate
    2.79x
  • Guarantee One Lot Size
    2 lot
  • One Lot Success Rate
    60%
COMPANY PROFILE

Jiayuan Services Holdings is a comprehensive property management service provider in Zhejiang province. Headquartered in Jiaxing and deeply rooted in the Yangtze River Delta Region, through over 15 years of operations.

According to CIA, in 2019, among the Top 100 Property Management Companies in China headquartered in Zhejiang province and the Yangtze River Delta Region, the Group was ranked fifth and 14th, respectively, in terms of GFA under management. As of June 30, 2020, approximately 84.5% of total GFA under management was located in the Yangtze River Delta Region.

Also, the Group had a total contracted GFA of approximately 40.3 million sq.m., covering 42 cities and 16 provinces in China; and had a total of 154 projects under management, with a total GFA under its management of approximately 27.6 million sq.m., covering 28 cities and ten provinces in China. It was ranked 35th among the 2020 Top 100 Property Management Companies in China and 13th among the 2020 Top 100 Property Management Companies in China by Growth according to CIA.

The Group generated revenue primarily from three business lines, including Property management services, Value-added services to non-property owners and Community value-added services.

Since 2005, the Group has built close and extensive cooperation with Jiayuan Property Brand (02768). In 2017, 2018 and 2019 and the six months ended in June 30, 2019 and 2020, revenue from providing property management services to properties developed by Jiayuan Property Brand accounting for 96.3%, 90.8%, 79.4%, 80.0% and 70.2%, respectively, of its total revenue derived from property management services for the same periods.

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureProperties
Websitejy-fw.cn
Board Lot1,000
Registrar & Transfer OfficeTricor Investor Services
GLOBAL OFFERING
No. of Offer Shares150m shares
No. of International Offer Shares15.00m shares
No. of HK Offer Shares135m shares
Offer Price$3.15 - $4.05
Nominal ValueHK$ 0.01 each
Stock Code1153
Joint SponsorsHaitong International Capital, Guotai Junan Capital
Joint Representatives, Joint Global Coordinators, Joint Bookrunners and Joint Lead ManagersHaitong International Securities, Guotai Junan Securities (Hong Kong)
Joint Global Coordinators, Joint Bookrunners and Joint Lead ManagersCCB International Capital, SPDB International Capital, Valuable Capital, Harmonia Capital
Joint Bookrunners and Joint Lead ManagersBOCOM International Securities, ABCI Capital, ABCI Securities, Zhongrong PT Securities, CMBC Securities, CSFG International Securities, Soochow Securities International Brokerage, Glory Sun Securities, Zhongtai International Securities, CRIC Securities, Futu Securities International (Hong Kong), Fortune (HK) Securities, Seazen Resources Securities
Joint Lead ManagersVision Capital International, SBI China Capital Financial Services
TIME TABLE
Application PeriodNov 27 (Fri) - Noon, Dec 2 (Wed)
Price Determination DateOn or Before 5pm, Dec 2 (Wed)
Result Announcement DateOn or Before Dec 8 (Tue)
Dispatch of Shares and Refund ChequesOn or Before Dec 8 (Tue)
Dealings in Shares commence onDec 9, 2020. (Wed)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription15X - 50X50X - 100XOver 100X
% of total shares reallocated to HK Offer30%40%50%
DIRECTORS
ExecutiveZhu Hongge (Chairman), Mu Liyuan
Non-ExecutiveHuang Fuqing, Pang Bo
Independent Non-ExecutiveLiang Yunxu, Wang Huimin, Wong Kwok Yin
MAJOR SHAREHOLDERS
Jiayuan International (02768)75%
INCOME STATEMENT (RMB'000)
(Year ended Dec 31)
2020 *20192018
Revenue280,254454,891331,258
Gross Profit85,897108,69478,898
Pre-Taxed Profit52,12868,30448,542
Attributable Profit for the period35,65350,21435,776
* For the six months ended June 30, 2020.
OFFER STATISTICS (HK$)
Offer Price$3.15 - $4.05
Capitalization$1,890m - $2,430m
Unaudited pro forma adj NAV / share$1.01 - $1.23
USE OF PROCEEDS
Assuming the offer price being at the mid-point of $3.60, the net proceeds raised would be HK$477.2m, of which:
* $334.0m (70.0%) to pursue selective strategic investment and acquisition opportunities ;
* $38.2m (8.0%) to enrich service offerings;
* $57.3m (12.0%) to invest in intelligent operational and internal management system to enhance service quality and customer experience;
* the balance of $47.7m (10.0%) as additional working capital.
RELATED STOCK COMPARISON
Code Name Nominal Change %Change
00873SHIMAO SERVICESdown9.140-0.050-0.544%
01153JIAYUAN SERdown3.870-0.010-0.258%
01417RIVERINE CHINAunchange1.8300.0000.000%
01538ZHONG AO HOMEunchange0.6100.0000.000%
01755S-ENJOY SERVICEdown13.280-0.540-3.907%
01778COLOUR LIFEunchange1.1600.0000.000%
01895XINYUAN PMunchange2.0180.0000.000%
01941YE XING GROUPdown0.760-0.020-2.564%
01995CIFI ES SERVICEdown13.160-0.140-1.053%
02168KAISA PROSPERdown13.400-0.160-1.180%
02669CHINA OVS PPTdown7.470-0.010-0.134%
02768JIAYUAN INTLdown2.990-0.010-0.333%
02869GREENTOWN SERup7.4200.0901.228%
03319A-LIVINGdown18.200-0.060-0.329%
03662AOYUAN HEALTHYup3.1100.0100.323%
06049POLY PPT SERdown51.700-0.050-0.097%
06093HEVOL SERVICESdown4.220-0.020-0.472%
06098CG SERVICESdown46.650-0.400-0.850%
06958ZHENRO SERVICESdown4.640-0.070-1.486%
09909POWERLONG CMup16.4800.0800.488%
09983CC NEW LIFEup5.0600.0400.797%
15-min delayed, last updated: 02/12/2021 17:59
Related Document
Remark: The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
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