As a subsidiary of Shimao Group, Shimao Services is a comprehensive property management and community life service provider. Following a brand philosophy of "being an intelligent life maker" and practicing a "iBlue Strategy", Shimao Services gives strategic emphasis on four key urban agglomerations in the Yangtze River Delta, the Bohai Economic Rim Sea, the Southern China and Central-Western China. By October, 2020, Shimao Services had conducted business in over 100 core cities all over China with a total contracted management area of over 140 million square meters, signed management agreements with 615 projects and provided 2.4 million owners and users with life services. Now, the services that Shimao Services provides cover nearly every corner of life, including residential buildings, governmental and public facilities, schools, health care centers, VIP lounges in airports, etc. At the same time, Shimao Services focuses on the deployment of smart technology services, and obtains strategic investment from Sequoia and Tencent before listing, which further promotes the digital upgrade of Shimao Services.
Shimao Services has been widely recognized by the whole industry, media, owners and users for its quality services and has thus earned a variety of honors, such as TOP 100 Property Management Companies in the PRC in terms of overall strength(top12), Leading Growth Enterprise among in TOP 100 Property Management Companies in the PRC in 2019, Potential Unicorn of Property Service Management Service.
Shimao Services has achieved outstanding financial growth. In 2017, 2018, 2019 and the first half of 2020, the Company generated revenue of RMB1.04 billion, RMB1.33 billion, RMB2.49 billion and RMB1.57 billion, respectively, and net profit of RMB0.11 billion, RMB0.15 billion, RMB0.39 billion and RMB0.25 billion, respectively.
As the largest ever property service company in the Hong Kong market in terms of offering size, the listing of Shimao Services is another milestone project sponsored by CICC this year. As the Joint Sponsor, CICC has been deeply involved in the full listing process of the Company, offering optimal IPO plan, actively leading the overall implementation, and successfully completing the IPO.
CICC uncovered global investors demands by leveraging its global sales network, which successfully attracts strong participation from long-only funds and secures multi-times covered anchor orders, laying a solid foundation for the high-end pricing.
