Comprehensive Overview

The Group is an integrated operator of property management services. It was the first property management service provider to enter Beijing Hutong Property Management. It undertook property management and related services for influential projects in the market, such as the National Stadium (Bird's Nest), government office buildings, and enterprise groups controlled by the National Assets Administration Commission. As of May 31, 2021, the Group's contracted construction area and construction area were divided into 32.3 million square meters and 30.5 million square meters. At the same time, the Group's construction area under management in the Beijing-Tianjin-Hebei region was 27.3 million square meters, accounting for 89.4% of the Group's managed construction area as of the same day.

Risk Factors

During the record period, the majority of the Group's revenue came from providing services to properties developed and/or owned by Beijing Urban Construction Group and its joint ventures or joint ventures. For the year ended December 31, 2020, the Group's revenue from providing property management services to properties developed or owned by Beijing Urban Construction Group and its joint ventures or joint ventures accounted for 65.4% of the Group's total property management services revenue. Any adverse development of this largest customer may affect the Group's ability to obtain new property management service contracts, and the Group's business, financial situation and operating results may be significantly adversely affected.