Hong Kong, November 22, 2024 /PR Newswire/ -- On November 22, 2024, shoucheng announced the signing of a new fund management service agreement with shougang fund, where shoucheng will continue to provide fund entrusted management services to shougang fund. The fund management services of the new fund management service agreement align with the company's business strategy. So far, both parties have established a long-term stable cooperative relationship. On one hand, continuing the fund management service cooperation is a stabilizing signal that provides investment confidence to other investors, thus helping the funds managed by the company raise more money from external investors; on the other hand, it will contribute to the company's business with a continuous and stable revenue contribution.

Public information shows that shougang fund is a wholly-owned subsidiary of shougang group and serves as the industry investment operation platform of shougang group. It mainly engages in investment activities with its own funds and actively serves the real economy. Currently managing 46 funds, it has accumulated an asset management scale of over 100 billion yuan. Adhering to professional investment judgment, a market-oriented decision-making mechanism, and a sound risk control system, it focuses on leading and specialized institutions in the industry, with annualized rates of return and return multiples at an excellent level in the industry.

Shoucheng relies on asset operation and asset integration as its two core businesses, forming a unique business model of 'asset circulation + strong operation'. Among them, private fund management services are one of the core foundations of shoucheng's two major businesses and play an important role in the business model of 'asset circulation + strong operation'. This not only continuously brings profits to the company but also, backed by the strong resource background of shougang group, helps the company explore more potential opportunities in asset management on the basis of asset circulation and operations. In fact, the company has formed high-dimensional strategic cooperation with managed projects under the fund in various fields such as industrial parks, property management, and new energy over the past three years, greatly expanding the operational boundaries of the company and generating positive momentum for industry chain extension and business expansion.

At the beginning of this year, the managed fund shougang transformation fund signed a leasing contract with shougang group to obtain 20 years of leasing rights for buildings such as Xishi Winter Olympic Plaza and Beiqi Pipe in the new shougang high-end industry comprehensive service area. In May of this year, shoucheng cooperated with international trade property to jointly build shoucheng international trade property company, achieving integrated services for its industrial park projects, and signed a property service framework agreement with shougang fund to undertake property service work for projects located in the western area of peking related to shougang fund and its contacts, capturing business opportunities in the property management field emerging from the industrial park. In August, the company formed shoucheng supercharging with ideal automobiles, deeply layout the charging station sector, expanding the business map from the single 'parking asset management' to 'parking + charging', further extending industry sectors and opening up business development space, forming a diversified second income curve.

Through a series of investments in high-quality enterprises along the industry chain, the ecological construction is expanded, and business collaboration is strengthened, which in turn promotes the enhancement of the company's competitiveness, as reflected in the impressive business data. As of September 30, 2024, shoucheng's operating revenue and gross profit have both significantly increased in the first three quarters, achieving a total operating revenue of 0.935 billion Hong Kong dollars, a year-on-year growth of 42%; gross profit of 0.429 billion Hong Kong dollars, a substantial increase of 49% year-on-year. Among them, the asset operation business sector achieved operating revenue of 0.675 billion Hong Kong dollars, an increase of 49.6% year-on-year; the asset financing business achieved operating revenue of 0.26 billion Hong Kong dollars, an increase of 24.2% year-on-year.

In recent years, the company has actively explored external fundraising channels, with the types of investors in the managed fund gradually becoming richer and more diversified. The experience and professional capability of fund management services have continuously improved. Along with the gradual expansion of shoucheng's asset management scale in the field of fund management services in the future and the continuous accumulation of management experience, the company will actively explore external channels, continue to increase market-oriented fundraising efforts, attract a higher proportion of external social capital, and promote cooperation in fund management services with more external investors. This will help the company continue to provide leading infrastructure asset management services and become a sustainable infrastructure asset transformer and service provider.