Dark Market Intelligence | Dongyuan Renzhi Services closed up 2.86%, earning HK$68 per lot

Futu Information reported on April 28 that $ Dongyuan Renzhi Service (02352.HK) $ opened 3.4% higher in the dark market, and finally closed up 2.86% at HK$12.24, earning HK$68 per lot.

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Dongyuan Renzhi Service has 4,379 people who subscribed for the public placement, and the first-hand lottery rate was 17.85%, and the 6-lot subscription was stable. The relevant data compiled by Futu Information are as follows:

Investment Highlights

Rich industry experience and market leadership: Dongyuan Renzhi Service is a long-established property management service provider that has provided property management services in China for more than 17 years. Its long operating history and industry experience can make the company stand out from many competitors . As of December 31, 2021, the company operates in two major regions in China, namely Southwest China and East China.

According to the China Index Research Institute, in 2021, in terms of the total revenue generated in China in 2020 and the total GFA under management in China in 2020, the company will be ranked 52nd in the “2021 China Top 100 Property Service Enterprises” respectively. and 53rd. According to the prospectus, as of December 31, 2021, Dongyuan Renzhi Service had 325 property projects under management, including residential and non-residential properties, covering 51 cities in 16 provinces, autonomous regions and municipalities in China, with total The tube construction area is about 28.2 million square meters.

Rapid growth in performance: In terms of financial status, the company’s total revenue from 2019 to 2021 was RMB 559 million, RMB 767 million, and RMB 1.193 billion, respectively, with a compound annual growth rate of approximately 46.1% from 2019 to 2021. The net profit in the same period was 25.6 million yuan, 84.5 million yuan and 130 million yuan respectively, and the compound growth rate from 2019 to 2021 was 125.72%.

risk warning

Intense competition in the industry: China’s property management industry is extremely competitive and fragmented, and there are many competitors in the company’s business, and the competition is fierce. Competition may intensify as competitors expand service categories, or new competitors enter existing or new markets. If the company is not able to successfully compete with existing and new competitors, the company’s business, financial condition, results of operations and prospects may be materially and adversely affected

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