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02207 融信服務集團
Ronshine Service Holding
Listing Date2021/07/16
Listing Price4.880
 
Quote
Subscription Result
  • Subscription Rate
    8.12x
  • Guarantee One Lot Size
    25 lot
  • One Lot Success Rate
    18%
COMPANY PROFILE

Ronshine Service Holding is a comprehensive property management services provider in China, offering diversified property management services for both residential and nonresidential properties. According to CIA, the Group was ranked 19th, 20th and 24th among the Top 100 Property Management Companies in the PRC in terms of overall strength in 2021, 2020 and 2019 respectively.

As of December 31, 2020, the Group had 119 projects under its management and 91 projects it was contracted to manage but not yet delivered, covering 44 cities in the two major regions and Other Regions, with a total GFA under management of approximately 19.9 million sq.m. and a total contracted GFA of approximately 38.2 million sq.m.

The Group generated revenue primarily from three business lines: property management services, value-added services to non-property owners, and community value-added services. The Group introduced the ROYEEDS (融御) brand in 2017, which is aimed to provide tailored services to meet customers’ needs for high-end communities.

The Group customer base primarily consists of property developers, property owners and residents. In 2018, 2019 and 2020, revenue generated from services provided to its controlling shareholders Ronshine China Group (03301) accounted for approximately 32.6%, 30.2% and 35.8% of total revenue, respectively.

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureProperties
Major Business AreaChina
Websitewww.rxswy.com
Board Lot1000
GLOBAL OFFERING
No. of Offer Shares125m shares
No. of International Placing Shares113m shares
No. of HK Offer Shares12.50m shares
Offer Price$4.68 - $5.63
Registrar & Transfer OfficeComputershare Hong Kong Investor Services
Stock Code2207
Sponsor(s)Haitong International Capital Limited
Underwriter(s)Haitong International Securities Company Limited; CMB International Capital Limited; China Everbright Securities (HK) Limited; China Merchants Securities (HK) Co., Limited; CRIC Securities Company Limited; Vision Capital International Holdings Limited; Livermore Holdings Limited; Huafu International Securities Limited; SBI China Capital Financial Services Limited; Sinomax Securities Limited
TIME TABLE
Application PeriodJun 30 (Wed) - Noon, Jul 9 (Fri)
Price Determination DateOn or Before 5pm, Jul 9 (Fri)
Result Announcement DateOn or Before Jul 15 (Thu)
Dispatch of Shares and Refund ChequesOn or Before Jul 15 (Thu)
Dealings in Shares commence onJul 16, 2021. (Fri)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription15X - 50X50X - 100XOver 100X
% of total shares reallocated to HK Offer30%40%50%
DIRECTORS
ExecutiveOu Zonghong (Chairman), Ma Xianghong, Lin Yi
Non-ExecutiveLin Liqiong
Independent Non-ExecutiveYe Azhong, Chen Zhangwang, Kwok Kin Kwong Gary
MAJOR SHAREHOLDERS
Director Ou Zonghong75%
INCOME STATEMENT (RMB'000)
(Year ended Dec 31)
202020192018
Revenue750,425518,432413,649
Gross Profit216,311167,237113,668
Pre-Taxed Profit121,89999,04946,306
Attributable Profit for the period82,51170,03636,372
OFFER STATISTICS (HK$)
Offer Price$4.68 - $5.63
Capitalization$2,340m - $2,815m
Unaudited pro forma adj NAV / share$1.24 - $1.47
USE OF PROCEEDS
Assuming the offer price being at the mid-point of $5.155, the net proceeds raised would be HK$593.0m, of which:
* $355.8m (60.0%) to pursue selective strategic investment and acquisition opportunities;
* $65.2m (11.0%) to further diversify project portfolio and value-added services;
* $89.0m (15.0%) to develop and upgrade hardware and software used in operations;
* $23.7m (4.0%) to further develop property management services provided to high-end properties; and
* the balance of $59.3m (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 SERVICEunchange16.3000.0000.000%
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 PROSPERup21.5000.4502.138%
02207RONSHINE SERVunchange5.4700.0000.000%
02669CHINA OVS PPTdown6.260-0.110-1.727%
02869GREENTOWN SERunchange8.3400.0000.000%
03301RONSHINECHINAunchange3.5800.0000.000%
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 SERVICESunchange4.9600.0000.000%
09909POWERLONG CMunchange17.5000.0000.000%
09983CC NEW LIFEunchange5.3700.0000.000%
15-min delayed, last updated: 29/09/2021 09:27
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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