繁
简
Market+ (iPhone)
Market+ (Android)
Mobile Site
US STOCKS
FUNDS
FX & CRYPTO
SH/SZ-HK
HK STOCKS
 
 
 
 
 
 
Quote Service
Market
Market
Quotes
Quotes
Analysis
Analysis
Commentary
Commentary
Warrants&CBBCs
Warrants&CBBCs
Warrants&CBBCs Overview
Warrants
CBBCs
ETF
ETF
MPF
MPF
Education
Members
Members
About Us
About Us

IPO Plus - IPO

To-be Listed
Name▼
/
Code▼
 Industry Offer Price Lot Size Entry Fee Closing Date
Grey Market Date▼
Listing Date▲
S.F. Holding
06936.HK		 Air Freight & Logistics 32.3-36.3 200 N/A 2024/11/22 2024/11/26 2024/11/27
Jiuyuan Gene
02566.HK		 Biotechnology - Medical Devices 11.48-12.56 200 N/A 2024/11/25 2024/11/27 2024/11/28
Mokingran
02585.HK		 Watch & Jewellery 12-14.4 200 N/A 2024/11/26 2024/11/28 2024/11/29
DEXIN SER GROUP (02215.HK)
Summary
We are a comprehensive property management service provider in Zhejiang Province. Headquartered in Hangzhou, and deeply rooted in the Yangtze River Delta Region, we have, through over 16 years of development, established an important market position in Zhejiang Province and are well-known in the PRC property management industry. According to CIA, in terms of GFA under management as of December 31, 2020, we had a market share of approximately 0.2% among the Top 100 Property Management Companies in the PRC and approximately 3.7% among the Top 100 Property Management Companies in the PRC headquartered in Zhejiang Province. We were awarded “Leading Property Management Service Provider in East China” (華東地區物業服務市場地位領先企業) by CIA in 2020. We have also expanded our business into cities in other parts of the PRC that we believe have high growth potential, primarily covering new first-tier and second-tier cities. As of December 31, 2020, we had a total of 175 properties under management with an aggregate GFA under management of 24.9 million sq.m., covering 24 cities across 7 provinces. We have been recognized as one of the Top 100 Property Management Companies in the PRC in terms of overall strength for eight consecutive years since 2014 with our ranking improved from 41st in 2014 to 25th in 2021, according to CIA.

We provide a wide range of services for both residential and non-residential properties through three business lines, namely, property management services, value-added services to non-property owners and community value-added services. Our close and extensive cooperation with Dexin Group, namely, Dexin China (which is listed on the Main Board of the Stock Exchange) and its subsidiaries, has driven our development since our inception and laid the foundation for our continuous growth. We also possess strong business development capabilities and have a proven track record in securing engagements from independent third-party property developers to achieve organic growth and business expansion. As of December 31, 2020, we had 175 properties under our management, including 69 properties developed by Dexin Group and its joint ventures and associates, with an aggregate GFA under management of 8.8 million sq.m., accounting for 35.1% of our total GFA under management as of the same date, and 106 properties developed by independent third-party property developers with an aggregate GFA under management of 16.1 million sq.m., accounting for 64.9% of our total GFA under management as of the same date.

OUR BUSINESS MODEL

During the Track Record Period, we generated revenue primarily from three business lines:

‧ Property management services. We provide property developers, property owners and residents with a wide range of property management services, primarily including security, cleaning, greening and repair and maintenance services. Our property portfolio comprises residential properties and non-residential properties including commercial complexes, office buildings, schools, hospitals, industrial properties and municipal facilities.

‧ Value-added services to non-property owners. We offer comprehensive property-related services to non-property owners, which primarily include property developers. Such services primarily consist of (i) sales office management services where we provide property management services to property developers’ sales offices and display units; (ii) preliminary planning and design consultancy services covering various stages of property development; (iii) property inspection and repair services covering pre-delivery inspection and post-delivery repair and maintenance services; and (iv) commercial consulting services where we provide, among other things, market research and analysis and other consulting services with respect to commercial complexes and serviced apartments.

‧ Community value-added services. We provide community value-added services to property owners and residents to improve their living experience and to maintain and enhance the value of their properties. Such services primarily include (i) smart community solutions where we sell hardware and software to property developers and provide maintenance services; (ii) property sales and assistance services where we either help property developers market their properties in exchange for a fixed amount or percentage of the sales proceeds as our commissions, or sell carpark spaces held by us and generate profit from the excess of selling prices over our purchases prices; (iii) common area value-added services where we assist property owners in leasing common spaces and public facilities to third parties in exchange for a pre-determined percentage of the rental fees as our commissions; (iv) clubhouse services where we provide catering services and conference services; (v) home decoration services where we provide customized home decoration services; and (vi) community retail and home services where we sell groceries, seasonal products and other daily necessities and provide cleaning, repair and maintenance services.

Our revenue from community value-added services increased from RMB63.2 million in 2019 to RMB143.1 million in 2020 partially due to the increase in revenue from property sales and assistance services. We initially adopted a purchase-and-resell model in 2019 and had sold out all of our carpark spaces as of September 30, 2020. We started our sales assistance under a commission-based model in the second half of 2020. Under the new commission-based model, we recognize commission as revenue as compared to under the purchase-and-resell model where we recognize sales amount of a carpark space as revenue on a gross basis and the purchase price for such carpark space as the costs when the carpark space is sold. As a result of the change of business model, our revenue from this service could potentially decrease. However, as we no longer recognize costs for purchase of carpark spaces under the commission-based model, our costs will decrease and gross profit margin will increase as compared to those under the purchase-and-resell model.

As of the Latest Practicable Date, we were contracted to provide property management services with respect to 273 property projects with an aggregate contracted GFA of 40.8 million sq. m. Among the 273 property projects, 90 property projects with an aggregate contracted GFA of 11.7 million sq.m. were solely developed by Dexin Group, 45 property projects with an aggregate contracted GFA of 6.8 million sq.m. were jointly developed by Dexin Group, and 138 property projects with an aggregate contracted GFA of 22.3 million were developed by independent third-party property developers. As of the same date, we had entered into 141 contracts for providing value-added services to non-property owners. Among these 141 contracts, (i) 65 contracts were related to sales office management services with an aggregate contract value of approximately RMB93.7 million; (ii) 31 contracts were related to preliminary planning and design consultancy services with an aggregate contract value of approximately RMB22.0 million; (iii) six contracts were related to property inspection and repair services with an aggregate contract value of approximately RMB3.5 million; and (iv) 39 contracts were related to commercial consulting services. In addition, as of the Latest Practicable Date, we were contracted to provide smart community solutions services for 17 projects with an aggregate contract value of approximately RMB36.2 million. The information in this paragraph is prepared based on our internal records, including the number of contracts entered as of the Latest Practicable Date and the corresponding contract values, which may be subject to various uncertainties associated with the performance of the relevant contracts by contracting parties. There is no assurance that our actual financial performance will not deviate from such information.

Source: Dexin Services Group (02215) Prospectus (IPO Date : 2021/06/29)
Listing Market MAIN
Industry Property Service and Management
Background Others
Major Business Area N/A
Corporate Information
Substantial Shareholders Hu Yiping (57.65%)
Kaibang International Limited (12.57%)
Shen Yuehua (5.82%)
Directors Hu Yiping (Chairman and Executive Director)
Tang Junjie (President and Executive Director)
Zheng Peng (Executive Director)
Rui Meng (Independent Non-Executive Director)
Yang Xi (Independent Non-Executive Director)
Wong Wing Kuen Albert (Independent Non-Executive Director)
Company Secretary Lin Sio Ngo
Principal Bankers Bank of Communications Co., Ltd.
Industrial And Commercial Bank of China
Solicitors Conyers Dill & Pearman
Fangda Partners
Auditors Zhonghui ANDA CPA Limited
Registered Office 40th Floor, Dah Sing Financial Centre, No. 248 Queen’s Road East, Wanchai, Hong Kong
Share Registrars Computershare Hong Kong Investor Services Ltd. [Tel: (852) 2862-8628]
Share Registrars Tel No (852) 2862-8628
Internet Address http://www.dexinfuwu.com
Email Address ir@shengquanwuye.com
Tel No (86 571) 8817-3911
Fax No (86 571) 8831-5313
 
SITEMAP
AASTOCKS.com
 
 
Members
 
About Us
Market
Quotes
 
Analysis
News & Research
 
Commentary
 
Warrants&CBBCs
 
Warrants
 
CBBCs
 
US Stocks
Forex
 
Fund
 
MPF
Email: support@aastocks.com
AASTOCKS.COM LIMITED (阿斯達克網絡信息有限公司) All rights reserved.
Disclaimer
You expressly agree that the use of this app/website is at your sole risk.

AASTOCKS.com Limited, HKEx Information Services Limited, China Investment Information Services Limited, Shenzhen Securities Information Co. Ltd, Nasdaq, Inc., their respective holding companies and/or any subsidiaries of such holding companies, their Sources and/or other third party data provider(s) endeavour to ensure the accuracy and reliability of the Information provided but do not guarantee its accuracy or reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.

Neither AASTOCKS.com Limited, HKEx Information Services Limited, China Investment Information Services Limited, Shenzhen Securities Information Co.Ltd., Nasdaq, Inc. nor their respective holding companies and/or any subsidiaries of such holding companies nor their Sources and/or other third party data provider(s) make any express or implied offers, representations or warranties (including, without limitation, any warranty or merchantability or fitness for a particular purpose or use) regarding the Information.

Neither AASTOCKS.com Limited, HKEx Information Services Limited, China Investment Information Services Limited, Shenzhen Securities Information Co. Ltd., Nasdaq, Inc. nor their respective holding companies and/or any subsidiaries of such holding companies nor their Sources and/or other third party data provider(s) will be liable to any Subscriber or any other party for any interruption, inaccuracy, error, or omission, regardless of cause, in the Information or for any damages (whether direct or indirect, consequential, punitive, or exemplary) resulting from its use by any party.

AASTOCKS.com Limited shall not be liable for any failure or delay in performance of its obligations under this Disclaimer because of circumstances beyond its reasonable control, including but without limitation, acts of God, typhoons, rainstorms, other natural disasters, government restrictions, strikes, wars, virus outbreak, network failures or telecommunications failures.

Morningstar Disclaimer: Copyright © 2020 Morningstar, Inc. All Rights Reserved. The information, data, analyses and opinions ("Information") contained herein: (1) include the proprietary information of Morningstar and Morningstar’s third party licensors; (2) may not be copied or redistributed except as specifically authorised; (3) do not constitute investment advice; (4) are provided solely for informational purposes; and (5) are not warranted to be complete, accurate or timely. Morningstar is not responsible for any trading decisions, damages or other losses related to the Information or its use. Please verify all of the Information before using it and don’t make any investment decision except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up.

The information and contents contained in this app/website are based on the analyses and interpretations of publicly available information obtained from sources believed to be reliable. Such analyses and information have not been independently verified and AASTOCKS.com Limited makes no guarantees to their accuracy, completeness, timeliness or correctness.

The information, financial market data, quotes, charts, statistics, exchange rate, news, research, analysis, buy and sell ratings, Education Center and other information on this app/website should be used as references only at your own discretion. Prior to the execution of a security or any other trade based upon the Information, you are advised to consult independent professional advice to verify pricing information or to obtain more detailed market information. AASTOCKS.com Limited is not soliciting any subscriber or app/website visitor to execute any trade. Any trades executed following the said information, commentaries and/or buy/sell ratings on this app/website are taken at your own risk for your own account.

AASTOCKS.com Limited provides the information and services on an "AS IS" basis. The information and contents on this app/website are subject to change without notice. AASTOCKS.com Limited reserves the right, in its sole discretion but without any obligation, to make improvements to, or correct any error or omissions in any portion of this app/website at any time.

The subscriber or app/website visitor agrees not to reproduce, retransmit, disseminate, distribute, broadcast, publish, circulate, sell or commercially exploit the information and contents on this app/website in any manner without the express written consent of AASTOCKS.com Limited.

Investment involves risk. You may make use of the Education Center of this website for academic reference purposes at your own discretion. AASTOCKS.com Limited cannot and does not give any assurance that the present or future buy/sell commentaries and signals on this app/website will be profitable. AASTOCKS.com Limited cannot guarantee, and the subscriber or app/website visitor should not assume, that the future performance will equal past performance.

AASTOCKS.com Limited may point to other sites that may be of interest to the subscriber or app/website visitor but for which AASTOCKS.com Limited has no responsibility and only provides this as a service to the subscriber or app/website visitor.

AASTOCKS.com Limited does not represent or endorse the accuracy or reliability of any information, advertisements or contents contained on, distributed through, or linked, downloaded or accessed from any of the services on this app/website. AASTOCKS.com Limited cannot and does not guarantee the quality or reliability of any products or information purchased or obtained by you as a result of an advertisement or any other information displayed on this app/website.

AATV is a video platform owned by AASTOCKS.com Limited.

You acknowledge that: (i) AATV is provided for information purposes only and, in particular, is not intended for trading purposes; (ii) AATV does not and none of the information contained in its program constitutes a solicitation, offer, opinion, or recommendation by us to buy or sell any security, or to provide legal, tax, accounting, or investment advice or services whether or not regarding the profitability or suitability of any security or investment; and (iii) AATV is not intended for use by, or distribution to, any person or entity in any jurisdiction or country where such use or distribution would be contrary to law or regulation.

The financial analysis or opinion expressed in the AATV programs is for reference and discussion only, and does not represent AASTOCKS.com Limited. Investors must make their own investment decisions based on their own investment objectives and financial situation. AASTOCKS.com Limited shall not, directly or indirectly, be liable, in any way, to you or any other person for any: (i) inaccuracies or errors in or omissions from AATV including, but not limited to, quotes and financial data; (ii) delays, errors, or interruptions in the transmission or delivery of AATV; or (iii) loss or damage arising therefrom or occasioned thereby, or by any reason of nonperformance.

AASTOCKS.com Limited reserves the right to change this Disclaimer at any time by posting changes online at this app/website. You are responsible for reviewing regularly information posted therein to obtain timely notice of such changes. Your continued use of this app / website after changes are posted constitutes your acceptance of this Agreement as modified by the posted changes.

The disclaimer herein shall be governed by the law of the Hong Kong Special Administrative Region of the People's Republic of China ("Hong Kong") and you agree to submit to the exclusive jurisdiction of the Hong Kong courts.

In the event of any discrepancy between the Chinese and English versions, the English version shall prevail.

Last updated on 6 January 2023.