CICC Assists C&D Property in Listing by Introduction on HKEX
C&D Property Management Group Co., Ltd (“C&D Property” or “Company”, 2156.HK) was successfully listed by introduction on the main board of Hong Kong Stock Exchange on December 31th, 2020. CICC acted as the Sole Sponsor.
After the listing, C&D Property became the only property management company listed by way of a distribution in specie since 2020, and the third property management company listed by introduction in the Hong Kong capital market.
As the sole sponsor, CICC assisted the Company to coordinate the internal and external resources efficiently, and maintained close communication with the HKEX and the SFC. With rich experience in the Hong Kong capital market, CICC strictly followed the timetable and took control of the overall pace to assist C&D Property in obtaining approval from the HKEX after A1 submission, leading to the successful listing.
CICC has won high recognition from the client for its high-quality integrated investment banking services and efficient teamwork. This is the second listing platform that CICC helped build for Xiamen C&D Group since 2014, which marks another milestone in the cooperation between the two parties.
About C&D Property
C&D Property is a property management services provider deeply cultivating in the Fujian Province. The Company has three main business lines, namely: property management services; community value-added and synergy services; and value-added services to non-property owners, have formed an integrated service offering to the customers and have covered the entire value chain of property management.
C&D Property has been providing property management services in the PRC for more than 25 years. As a result of the dedication to providing industry-leading and high-quality services over the years, the “C&D Property” brand has gained market acceptance and industry recognition widely among the customers. The Company ranked 36th among the Top 100 Property Management Companies in China in terms of overall strength in 2019.
The Company has a large property management portfolio covering more than 24 cities across 10 provinces, municipalities and autonomous regions in the PRC, with a total contracted GFA reaching 39.6 million sq.m. as at 30 June 2020, and the Company managed 203 projects in the PRC and provided property management services to 137,000 property units with an aggregate GFA under management of 21.7 million sq.m.
In 2017, 2018, 2019 and the first half of 2020, the Company generated revenue of RMB 447.05 million, RMB 608.62 million, RMB 801.33 million, and RMB 452.17 million, respectively, and profit of RMB 32.46 million, RMB 48.48 million, 68.28 million, and 61.47 million, respectively.
As a leading investment bank with “Chinese Roots, International Reach”, CICC will continue to support to C&D Property in first-class financial service through its seamless cooperation of onshore and offshore business and assist our customer to achieve their strategic development goals.