{"id":3905,"date":"2021-12-17T08:53:00","date_gmt":"2021-12-17T08:53:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3611342_AE11342_0"},"modified":"2021-12-17T08:53:00","modified_gmt":"2021-12-17T08:53:00","slug":"tapping-into-the-property-management-and-service-market-in-sichuan-chongqing-region-desun-services-debuts-on-the-hkex-today","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=3905","title":{"rendered":"Tapping into the Property Management and Service Market in Sichuan-Chongqing Region, Desun Services Debuts on the HKEX Today"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/en.prnasia.com\/prnasia.com-PC\/images\/logo-en-blue-in.png\" class=\"ff-og-image-inserted\"><\/div>\n<div id=\"dvContent\" readability=\"113\">\n<p><span class=\"xn-location\">CHENGDU, China<\/span>, <span class=\"xn-chron\">Dec. 17, 2021<\/span> \/PRNewswire\/ &#8212; On <span class=\"xn-chron\">17 Dec 2021<\/span>, Desun Real Estate Investment Services Group Co., Ltd. (Desun Services) was officially listed on <b>HKEX<\/b>. According to the public information, Desun Services issued 150 million shares at a final offer price of <span class=\"xn-money\">HK$ 1.11<\/span> per share, raising net proceeds of <span class=\"xn-money\">HK$ 128 million<\/span>.<\/p>\n<p>According to the prospectus, Desun Services strives to provide property management services and commercial operation services for mid-to high-end residential and commercial properties, respectively.<\/p>\n<p>In 2020, the average property management fee for properties under the management of Desun Services was <span class=\"xn-money\">RMB 3.9<\/span>, 50.0% higher than the average property management fee of <span class=\"xn-money\">RMB 2.6<\/span> for properties in <span class=\"xn-location\">Chengdu<\/span>; and 105.3% higher than the average property management fee of <span class=\"xn-money\">RMB 1.9<\/span> for properties in <span class=\"xn-location\">China<\/span>. From a geographical point of view, the Company&#8217;s objective is to strengthen their positions in Chongqing Municipality and <span class=\"xn-location\">Sichuan Province<\/span>, while focusing on western <span class=\"xn-location\">China<\/span> and aiming for nation-wide expansion.<\/p>\n<p>Leveraging on the deep penetration into the Sichuan-Chongqing Region and the focus on mid-to high-end property services, the performance of Desun Services has shown a rapid growth in the past few years. For the period of 2018-2020 and 5M2021, the revenue of Desun Services was <span class=\"xn-money\">RMB 63.964 million<\/span>, <span class=\"xn-money\">RMB 69.116 million<\/span>, <span class=\"xn-money\">RMB 127.922 million<\/span> and <span class=\"xn-money\">RMB 89.159 million<\/span>, respectively, while the profits for the same period were <span class=\"xn-money\">RMB 31.394 million<\/span>, <span class=\"xn-money\">RMB 31.043 million<\/span>, <span class=\"xn-money\">RMB 42.913 million<\/span> and <span class=\"xn-money\">RMB 10.003 million<\/span>, respectively.<\/p>\n<p>To some extent, the rapid growth of Desun Services is inseparable from the development dividends in Sichuan-Chongqing Region.<\/p>\n<p>With the galloping development of Cheng-Yu city cluster driven by the economic development in <span class=\"xn-location\">Southwest China<\/span>, from 2015 to 2020, the total GFA (gross floor area) under management by property management companies in <span class=\"xn-location\">Chengdu<\/span> increased from 635.3 million square meters to 814.6 million square meters, representing a CAGR (compound annual growth rate) of 8.8%. Expected that by 2025, the total GFA under management by property management service providers in <span class=\"xn-location\">Chengdu<\/span> is expected to reach 983.1 million square meters, with an expected CAGR of 5.4% from 2020 to 2025.<\/p>\n<p>Fueled by the steady increase in property GFA under management, the total revenue of property management service companies in <span class=\"xn-location\">Chengdu<\/span> increased from <span class=\"xn-money\">RMB 10.06 billion<\/span> in 2015 to <span class=\"xn-money\">RMB 18.68 billion<\/span> in 2020, with a CAGR of 13.2%.&nbsp;Expected that by 2025, the total revenue of property management service companies in the <span class=\"xn-location\">Chengdu<\/span> region is expected to reach <span class=\"xn-money\">RMB 34.39 billion<\/span>, with an expected CAGR of 13.0% from 2020 to 2025.<\/p>\n<p>Notably, the mid-to high-end property market in the region has performed more prominently.<\/p>\n<p>From 2015 to 2020, total GFA under management in the mid-to high-end residential property management services market in <span class=\"xn-location\">Chengdu<\/span> has increased from 85.7 million square meters to 125.2 million square meters, with a CAGR of 7.9%. Propelled by the growth in property GFA under management, the total revenue of the mid-to high-end residential property management services market in <span class=\"xn-location\">Chengdu<\/span> increased from <span class=\"xn-money\">RMB 2.16 billion<\/span> in 2015 to <span class=\"xn-money\">RMB 4.39 billion<\/span> in 2020, with a CAGR of 15.3%.<\/p>\n<p>Looking ahead, with the sustained expansion of Chengdu-Chongqing Megalopolis, the market demand for mid-to high-end property services in <span class=\"xn-location\">Sichuan<\/span> and <span class=\"xn-location\">Chongqing<\/span> regions is poised to keep booming. In this process, Desun Services will embark on a new journey once again by leveraging the momentum of growth in Chengdu-Chongqing Megalopolis.<\/p>\n<\/p><\/div>\n<p>Source: Desun Real Estate Investment Services Group Co., Ltd.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CHENGDU, China, Dec. 17, 2021 \/PRNewswire\/ &#8212; On 17 Dec 2021, Desun Real Estate Investment Services Group Co., Ltd. (Desun Services) was officially listed on HKEX. According to the public information, Desun Services issued 150 million shares at a final offer price of HK$ 1.11 per share, raising net proceeds of HK$ 128 million. According [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":3906,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-3905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tapping into the Property Management and Service Market in Sichuan-Chongqing Region, Desun Services Debuts on the HKEX Today - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=3905\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tapping into the Property Management and Service Market in Sichuan-Chongqing Region, Desun Services Debuts on the HKEX Today - My Blog\" \/>\n<meta property=\"og:description\" content=\"CHENGDU, China, Dec. 17, 2021 \/PRNewswire\/ &#8212; On 17 Dec 2021, Desun Real Estate Investment Services Group Co., Ltd. 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