Report
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For Business Accounts Only
Jinmao Property Services is a property management and city operation service provider in China. As of 30 Sept 21, it had 23.2m sqm of gross floor area (GFA) under management covering 35 cities in 20 provinces, autonomous regions and municipalities in the PRC, which comprises 96 residential and 41 non-residential projects.
Jinmao Property Services runs on an asset light business model and will have no debt upon listing. Stronger operating metrics had translated to revenue growth and margins have improved as business scaled. While heavily reliant on its Parent Entities (Controlling Shareholders), it has also been making attempts to diversify its revenue. However, the market is highly fragmented and its high residential component could face pricing pressure as well.
Jinmao Property Services Pre-IPO
Jinmao Property Services is looking to raise around US$200m in its upcoming Hong Kong IPO.Jinmao Property Services is a property management and city operation service provider in China. As of 30 Sept 21, it had 23.2m sqm of gross floor area (GFA) under management covering 35 cities in 20 provinces, autonomous regions and municipalities in the PRC, which comprises 96 residential and 41 non-residential projects.
Jinmao Property Services runs on an asset light business model and will have no debt upon listing. Stronger operating metrics had translated to revenue growth and margins have improved as business scaled. While heavily reliant on its Parent Entities (Controlling Shareholders), it has also been making attempts to diversify its revenue. However, the market is highly fragmented and its high residential component could face pricing pressure as well.
Underlying
Jinmao Property Services
Provider
Aequitas Research
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.
Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.
Markets that we cover include:
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Clarence Chu
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