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01209 華潤萬象生活
China Resources Mixc Lifestyle Services
Listing Date2020/12/09
Listing Price22.300
 
Quote
Subscription Result
  • Subscription Rate
    29.78x
  • Guarantee One Lot Size
    1 lot
  • One Lot Success Rate
    100%
COMPANY PROFILE

China Resources Mixc Lifestyle Services is a property management and commercial operational service provider in China. It provides property management and value-added services to one of the largest portfolios of residential properties. It also manages and operates a diversified and growing portfolio of commercial properties comprising shopping malls and office buildings. As of June 30, 2020, the GFA of the residential and commercial properties under its property management services was approximately 106.6 million sq.m. and the GFA of the shopping malls under its commercial operational services was approximately 5.6 million sq.m. According to Frost & Sullivan, the Group ranked:

1. fifth in terms of property management service revenue in 2019 among all PRC property management companies; 2. second in terms of shopping mall property management service revenue in 2019 among all PRC shopping mall operational service providers; 3. first in terms of the number of managed luxury shopping malls in China in 2019 among shopping mall operational service providers in China; and 4. second in terms of total revenue from shopping mall operational services market in the first six months of 2020 among all PRC shopping mall operational service providers.

The Group business is rooted in the property development and investment business of CR Land (01109), its Controlling Shareholder, when it started to provide property management and commercial operational services for properties developed and owned by CR Land. It has since expanded to provide comprehensive services for multiple types of properties and have developed an integrated lifestyle service platform.

The Group customers primarily consist of property developers, property owners, property owners’ associations, residents and tenants. During the Track Record Period, CR Group (00291) and CR Land (together with their respective joint ventures and associates) were its top two customers, revenue generated from such customers collectively represented 31.2%, 32.2%, 32.3% and 36.0% of its total revenue in 2017, 2018, 2019 and the six months ended June 30, 2020, respectively.

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureProperties
Websitewww.crmixclifestyle.com.cn
Board Lot200
Registrar & Transfer OfficeTricor Investor Services
GLOBAL OFFERING
No. of Offer Shares550m shares
No. of International Offer Shares523m shares
No. of HK Offer Shares27.50m shares
Offer Price$18.60 - $22.30
Nominal ValueUS$ 0.00001 each
Stock Code1209
Sole SponsoJoint Sponsors, Joint Global Coordinators,Joint Bookrunners and Joint Lead ManagersCCB International Capital, China International Capital Corporation Hong Kong Securities, Citigroup Global Markets Asia, Citigroup Global Markets, Goldman Sachs (Asia)
Other Joint Global Coordinator, Joint Bookrunner and Joint Lead ManagerABCI Capital, ABCI Securities
Other Joint Bookrunners and Joint Lead ManagersBOCI Asia, CMB International Capital, ICBC International Capital, ICBC International Securities
TIME TABLE
Application PeriodNov 25 (Wed) - Noon, Dec 1 (Tue)
Price Determination DateOn or Before 5pm, Dec 1 (Tue)
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 Offer7.5%10%20%
DIRECTORS
ExecutiveYU Linkang, WANG Haimin, WEI Xiaohua, YANG Hongxia
Non-ExecutiveLI Xin (Chairman), GUO Shiqing
Independent Non-ExecutiveLAU Ping Cheung Kaizer, CHEUNG Kwok Ching, CHAN Chung Yee Alan, QIN Hong
MAJOR SHAREHOLDERS
CR Land (01109)72.3%
INCOME STATEMENT (RMB'000)
(Year ended Dec 31)
2020 *20192018
Revenue3,134,0005,868,1034,431,727
Gross Profit755,311942,306665,426
Pre-Taxed Profit468,126496,508571,965
Attributable Profit for the period338,565364,928422,918
* For the six months ended June 30, 2020.
OFFER STATISTICS (HK$)
Offer Price$18.60 - $22.30
Capitalization$40,920m - $49,060m
Unaudited pro forma adj NAV / share$5.05 - $5.96
USE OF PROCEEDS
Assuming the offer price being at the mid-point of $20.45, the net proceeds raised would be HK$11,004.7m, of which:
* $6,602.8m (60.0%) to make strategic investments and acquisitions to expand our property management and commercialoperational businesses;
* $1,650.7m (15.0%) to pursue strategic investment in providers of value-added services and across the upstream and downstream supply chain of industry;
* $1,650.7m (15.0%) to invest in information technology systems and smart communities; and
* the balance of $1,100.5m (10.0%) as additional working capital.
RELATED STOCK COMPARISON
Code Name Nominal Change %Change
00873SHIMAO SERVICESdown9.140-0.050-0.544%
01109CHINA RES LANDup33.4000.8002.454%
01209CHINA RES MIXCup38.3000.5001.323%
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%
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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