Opinion Real Estate Network News:On the evening of November 11, Dongyuan Renzhi City Operation Services Group Co., Ltd. submitted its prospectus to the Hong Kong Stock Exchange again.
Opinion Real Estate New Media has learned that on September 30, 2021, Dongyuan Renji Service has 289 property projects under management, including residential and non-residential properties, covering 46 cities in 15 provinces, autonomous regions and municipalities directly under the Central Government, with a total construction area of about 24.7 million square meters.
Of these, 115 are residential properties and 174 are non-residential properties. The total floor area of residential and non-residential properties is about 17.6 million square metres and 7.1 million square metres respectively.
According to the first prospectus, on December 31, 2020, Dongyuan Renzhi had 227 property projects under management, including residential and non-residential properties, covering 38 cities in 14 provinces, autonomous regions and municipalities directly under the Central Government, with a total construction area of about 21.1 million square meters.
It is also learned that on September 30, 2021, about 52% of the total construction area of the property project managed by Tohara Renji Service originated from the Dumas Group and its affiliated companies. It manages a number of property projects, including those that have entered into the relevant property management service agreement, which does not specify the floor area under management.
According to the prospectus, Dongyuan Renji service income increased by about 98.2% from about 389 million yuan in 2018 to about 767 million yuan in 2020, with a compound annual growth rate of about 40.8%.
For the three years ended December 31, 2020, the gross profit of Dongyuan Renji service was about 88.6 million yuan, 133 million yuan and 216 million yuan respectively, with an increase of about 143.8% between 2018 and 2020. Gross profit margins were about 22.9%, 23.7% and 28.2% respectively in the same period.
In addition, for each of the three years ended December 31, 2020, the profits of Dongyuan Renji Service were about 29.1 million yuan, 25.6 million yuan and 84.5 million yuan respectively, with an increase of about 190.4 percent from 2018 to 2020. Compared with the nine months ended September 30, 2020, earnings, gross margin and gross profit margin for the nine months ended September 30, 2021 increased by about 65.7% and 60.1%, respectively.
Prior to this, Tohara Renji Service submitted its prospectus to the Hong Kong Stock Exchange for the first time on April 30, 2021 and expired on November 1.
According to previous reports by opinion Real Estate New Media, on November 1, 2021, the prospectus of Dongyuan Renzhi City Operation Service Group Co., Ltd. failed the hearing for six months and was marked as "invalid". Dumas shares of the parent company said that the invalidation of the application data will not affect the company's existing listing plans, and the company will submit the form twice after the first issue of the report in the near future to continue to promote the listing.
It is worth noting that Dumas issued an announcement on October 15 that its subsidiary, Tohara Renji Service, had been approved to issue overseas-listed foreign-funded shares, but had yet to be approved by the Hong Kong Stock Exchange.
Revision: Xu Yaohui