IPO Plus - IPO

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

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

Summary

We are a reputable integrated property management service provider in the property management industry in Zhejiang province. Established in Hangzhou in 1995, our Group has over two decades of experience in the property management service industry in the PRC. According to CIA, we were ranked 81st, 71st, 65th and 56th among the “Top 100 Property Management Companies in China” (中國物業服務百強企業) in terms of overall strength of property management in 2017, 2018, 2019 and 2020, respectively. In addition, in 2019, among the Top 100 Property Management Companies headquartered in Hangzhou and Zhejiang province, we were ranked 5th and 7th in terms of net profit, respectively. According to CIA, the property management service industry in the PRC is highly competitive and fragmented with a large number of market participants. The market share of Top 100 Property Management Companies in terms of total GFA under management amounted to approximately 43.6% in 2019. In 2019, our market share in terms of total GFA under management amounted to approximately 1.79% of the property management market in Hangzhou. During the Track Record Period, we were awarded “China's Property Industry AAA Credit Enterprise* (中國物業行業AAA級信用企業)” in 2017 and “AAA Class Integrity Management Demonstration Unit (AAA級誠信經營示範單位)” and “AAA Class Quality Service Unit (AAA級質量服務信譽單位)” in 2018. Please refer to the paragraph headed “Business — Honours and awards” in this document for further details of our awards. As at 30 June 2020, we had nine subsidiaries and 15 branches covering 14 cities in the PRC, the majority of which are located in Zhejiang province, providing property management services to 33 properties, including 16 residential properties and 17 non-residential properties, with a total GFA under management of approximately 6.4 million sq.m.. Please refer to the paragraph headed “Business — Property management services — Our geographic presence” in this document for further details of the geographic coverage of our managed properties. OUR BUSINESS MODEL Our business lines include: (i) property management services, including security, cleaning, gardening, repair and maintenance of common areas and common facilities and ancillary services; (ii) value-added services to non-property owners, primarily property developers, including consulting services, sales assistance services and pre-delivery services; (iii) community value-added services provided to primarily property owners and residents, including property repair and maintenance, waste cleaning, utility fee collection, remodelling and decoration and community space services; and (iv) other businesses, including hotel business and long-term rental apartment business. Please refer to the paragraph headed “Business — Our business model” for further details of our main business lines and how they complement each other. During the Track Record Period, our managed properties were primarily solely developed or co-developed by Sundy Land Group while the rest was developed by independent third-party property developers. The amount of revenue from the former amounted to approximately RMB58.7 million, RMB68.7 million, RMB87.7 million and RMB41.5 million, respectively, accounting for 98.2%, 96.6%, 91.7% and 69.7% of our Group's total property management services revenue for FY2017, FY2018, FY2019 and 6M2020, respectively. We believe that our long-term business relationship with Sundy Land Group will position us well to continue benefiting from its project reserve, which we consider will provide drivers for the continuing growth of our property management services. Meanwhile, we also have been searching for opportunities from independent third-party property developers and/or independent third parties, with an aim to reduce our reliance on Sundy Land Group. For details of the measures to achieve this aim, please refer to the paragraphs headed “Business — Property management services — Type of property developers” and “Relationship with Controlling Shareholders — Independence from our Controlling Shareholders — Operational independence”. Our Group will continue to adopt measures to reduce our reliance on Sundy Land Group. Source: Sundy Service (09608) Prospectus (IPO Date : 2020/12/31)
Listing Market	MAIN
Industry	Property Service and Management
Background	Others
Major Business Area	N/A

Corporate Information

Substantial Shareholders	Yu Jianwu (59.38%) Wang Xiangyu & Associates (8.85%) Lin Mingqing & Associates (7.81%)
Directors	YU, Yun (Chairman and Executive Director) Zhu Yihua (Executive President and Chief Executive Officer and Executive Director) Zhu Congyue (Executive Director) Zhang Zhenjiang (Executive Director) LAU, Kwok Fai Patrick (Independent Non-Executive Director) Ye Qian (Independent Non-Executive Director) Zhu Haoxian (Independent Non-Executive Director)
Company Secretary	Tsang Ho Yin Zhang Qisi
Principal Bankers	China Merchants Bank Bank of Hangzhou
Solicitors	Stevenson, Wong & Co.in association with AllBright Law Offices
Auditors	Crowe (HK) CPA Limited
Registered Office	39th Floor, Gloucester Tower, The Landmark, 15 Queen’s Road Central, Hong Kong
Share Registrars	Computershare Hong Kong Investor Services Ltd. [Tel: (852) 2862-8628]
Share Registrars Tel No	(852) 2862-8628
Internet Address	http://songduwuye.com/
Email Address	ir9608@ songduwuye.com
Tel No	(86 571) 8682-1030
Fax No	(86 571) 8682-1030

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