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IPO Detail
02205 康橋悅生活
Kangqiao Service Group
Listing Date2021/07/16
Listing Price3.680
 
Quote
  • 3.440 +0.010 (+0.292%)    Sink Below Listing Price
  • 15-min delayed, last update: 29/09/2021 09:30
Subscription Result
  • Subscription Rate
    23.72x
  • Guarantee One Lot Size
    15 lot
  • One Lot Success Rate
    9.11%
COMPANY PROFILE

Kangqiao Service Group is a property management service provider in the PRC. As of December 31, 2020, the Group had 112 properties under management with an aggregate GFA under management of approximately 15.7 million sq.m., covering 17 cities in three provinces. As of the same date, it was contracted to manage 238 properties with an aggregate contracted GFA of 39.0 million sq.m., covering 28 cities in eight provinces.

The Group provide property owners, property developer and residents with property management services, which typically include, among others, security, cleaning, greening, gardening, repairs and maintenance services. Its portfolio of managed properties comprises of residential properties and non-residential properties, such as commercial properties, office buildings and industrial parks.

It also provides value-added services to non-property owners, primarily property developers, mainly consisting of sales office management services, pre-delivery services , sales agency services, construction site management services to constructors and property developers, and consultancy services to property developers and property management companies.

In addition, it also provides community value-added services to property owners and residents. These services primarily include home-living services, community operation services and asset operation services.

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureProperties
Major Business AreaChina
Websitewww.kqysh.com.cn
Board Lot1000
GLOBAL OFFERING
No. of Offer Shares175m shares
No. of International Offer Shares158m shares
No. of HK Offer Shares17.50m shares
Offer Price$2.78 - $3.88
Registrar & Transfer OfficeComputershare Hong Kong Investor Services
Stock Code2205
Sponsor(s)CCB International Capital Limited
Underwriter(s)CCB International Capital Limited; Haitong International Securities Company Limited; Sheng Yuan Securities Limited; Shenwan Hongyuan Securities (H.K.) Limited; DL SECURITIES (HK) LIMITED; Guosen Securities (HK) Capital Company Limited; Futu Securities International (Hong Kong) Limited; Livermore Holdings Limited; Opus Capital Limited
TIME TABLE
Application PeriodJun 29 (Tue) - Noon, Jul 9 (Fri)
Price Determination DateOn or Before 5pm, Jul 9 (Fri)
Result Announcement DateOn or Before Jul 15 (Thu)
Dispatch of Shares and Refund ChequesOn or Before Jul 15 (Thu)
Dealings in Shares commence onJul 16, 2021. (Fri)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription15X - 50X50X - 100XOver 100X
% of total shares reallocated to HK Offer30%40%50%
DIRECTORS
ExecutiveDai Wei, Kang Weiguo, Wang Na
Non-ExecutiveSong Gewei (Chairman)
Independent Non-ExecutiveLi Haitao, Fan Yun, Wong Yun Pun
MAJOR SHAREHOLDERS
Song Gewei71.25%
INCOME STATEMENT (RMB'000)
(Year ended Dec 31)
202020192018
Revenue575,585362,840228,946
Gross Profit176,544111,03653,971
Pre-Taxed Profit123,90180,37428,992
Attributable Profit for the period88,38360,17921,813
OFFER STATISTICS (HK$)
Offer Price$2.78 - $3.88
Capitalization$1,946m - $2,716m
Unaudited pro forma adj NAV / share$0.83 - $1.10
USE OF PROCEEDS
Assuming the offer price being at the mid-point of $3.33, the net proceeds raised would be HK$523.3m, of which:
* $340.1m (65.0%) use to pursue selective investment and acquisition opportunities to further develop strategic cooperation and expand its business scale ;
* $52.3m (10.0%) use to invest in intelligent operations and internal management systems to improve service quality and customer experience ;
* $78.5m (15.0%) use to enrich and expand its service and product offerings to develop its diverse business lines;
* the balance of $52.3m (10.0%) as additional working capital.
RELATED STOCK COMPARISON
Code Name Nominal Change %Change
01417RIVERINE CHINAunchange1.9900.0000.000%
01538ZHONG AO HOMEunchange0.7200.0000.000%
01755S-ENJOY SERVICEdown15.760-0.540-3.313%
01778COLOUR LIFEunchange2.5300.0000.000%
01895XINYUAN PMunchange2.1200.0000.000%
01941YE XING GROUPunchange0.7100.0000.000%
01995CIFI ES SERVICEdown14.520-0.440-2.941%
02168KAISA PROSPERup21.4500.4001.900%
02205KANGQIAO SERup3.4400.0100.292%
02669CHINA OVS PPTdown6.260-0.110-1.727%
02869GREENTOWN SERunchange8.3400.0000.000%
03319A-LIVINGdown27.800-0.350-1.243%
03662AOYUAN HEALTHYunchange4.0600.0000.000%
06049POLY PPT SERunchange45.7500.0000.000%
06093HEVOL SERVICESunchange4.1000.0000.000%
06098CG SERVICESunchange56.2000.0000.000%
06958ZHENRO SERVICESdown4.920-0.040-0.806%
09909POWERLONG CMunchange17.5000.0000.000%
09983CC NEW LIFEdown5.300-0.070-1.304%
15-min delayed, last updated: 29/09/2021 09:30
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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