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新股预览:力高健康生活(2370.HK)

IPO Preview: Ligao Healthy Living (2370.HK)

光大新鴻基 ·  Mar 22, 2022 00:00  · Researches

Background

Ligao healthy Life, spun off by 1622.HK, is the leading property management service provider in Jiangxi Province. The service network covers the core regions such as the Changjiang Delta region, the Great Bay region, the Bohai Sea region and the central region. The income mainly comes from property management services, non-owner value-added services, and community value-added services. As of September 30, 2021, the total number of items under management has reached 91, with an active management area of 1.51 million square meters, and has managed 133 projects in 28 cities in 11 provinces, municipalities and autonomous regions, with a total construction area of 2.35 million square meters. Since 2018, the institute has been one of the top 100 enterprises in property service, and its ranking has risen from 68th in 2018 to 40th in 2021.

Summary

Cooperation with Likao Group maintenance long-term Strategy: in 2018, 2019, 2020 and the first nine months of 2021, focus on 97.8%, 96.2%, 91.3%, 94.8% and 79.0% of the total revenue, respectively. Among them, 96.7%, 93.4%, 91.3%, 92.4% and 70.4% of the income from property management services respectively come from the property industries developed by independent high-end enterprises and their joint enterprises and manufacturing companies. by the end of September 2021, the construction area of related industries actively accounted for about 66.2% of the management area, as the housing industry developed by Ligao Group contains more high-end projects, and the developed property industry is relatively new. It is more concentrated in first-and second-tier cities, so the collection fee for residential property management is higher.

The service scale has increased step by step: the management and construction area of the collection has increased from 59 million square meters at the end of 2018 to 2.35 million square meters at the end of September 2021, and the income has also increased from 124.3 million yuan in 2018 to 260.5 million yuan at the end of September 2021. This is mainly due to the increase in income generated by the property management service industry. In particular, there has been a significant increase in the management and construction of the property industry developed by Ligao Group and its joint ventures and companies, coupled with the 25 projects in the lagoon forest that have been included in the collection by the end of 2020. At the same time, the revenue growth generated by non-major value-added services is consistent with the performance exhibition of the collection (especially the service package exhibition) and the active and continuous growth in the management and construction.

Customer service strategy: through the "life + health" housekeeper service system, standardized customer management system and customer service capability, and through the real customer base established by property management service to provide community health service. In order to maintain the market position of economically developed areas, it will further integrate its projects through internal growth, strategic revenue and cooperation with third-party property developers, and further develop information technology services and upgraded information technology platforms to maximize cost-effectiveness and improve its service level.

The translation is provided by third-party software.


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