The day after its listing, Jingfa Property (01354) fell more than 17%, a cumulative decline of nearly 30% from its offering price of HK$7.5. As of the time of publication, it has fallen 17.32%, to HK$5.49, with a turnover of HK$3.5083 million.
According to the Zhixuan Financial App, the day after Jingfa Property's (01354) listing, it dropped more than 17%, a cumulative decline of nearly 30% from its offering price of HK$7.5. As of the time of publication, it has fallen 17.32%, to HK$5.49, with a turnover of HK$3.5083 million.
Jingfa Property is a state-owned comprehensive urban service and property management service provider in Shaanxi Province. According to the data of the Zhongzhi Research Institute, as of December 31, 2023, calculated by the building area under management in Shaanxi Province, Jingfa Property's market share is about 1.8%, ranking third among property management service providers operating in Shaanxi Province.
In terms of performance, Jingfa Property achieved operating income of approximately RMB 594 million, RMB 707 million, and RMB 862 million in 2021, 2022, and 2023, respectively, with corresponding net income of RMB 31.155 million, RMB 37.439 million, and RMB 51.018 million. The overall gross margin of Jingfa Property was 14.5%, 14.3%, and 13.7% in 2021, 2022, and 2023 respectively, showing a declining trend year by year.