On April 21, Shimao Real Estate (00813.HK), controlled by real estate agent Xu Rongmao, announced that the company is considering the possible spin-off of property management services and related value-added services business on the Hong Kong Stock Exchange for independent listing, possible spin-off and listing Details have not been finalized.
Before the official announcement, the son of Shimao Real Estate and Xu Rongmao and the president of Shimao Real Estate Xu Shitan have publicly disclosed the listing plan and the date of the plan.
changed its name to prepare for listing. On August 5, 2019, Shimao Real Estate announced that Shimao Property of the company’s property segment was officially upgraded to “Shimao Service” and plans to start listing in 2021.
At the subsequent semi-annual performance meeting of Shimao Real Estate in 2019, Xu Shitan revealed that diversification has become one of the important options for real estate companies to hedge real estate in the future, and the company ’s main force Mainly for real estate, but there is also a clear plan for the property. It will be listed in 2021 and the contracted area will be increased from 100 million square meters to 300 million square meters. To achieve the goal of serving 3 million households, each household is calculated by 3 people. Serve 10 million people.
As of December 31, 2019, Shimao Service has signed an area of more than 100 million square meters and realized revenue of 2.701 billion yuan, an increase of 68.10% from 1.607 billion yuan in 2018 , Mainly due to the gradual expansion of the scale of property management and the increase in management fees for cooperative projects.
In addition to the property, Shimao Real Estate stated that the company ’s hotel business also has plans to go public.
It is based on the diversified development of the business. On April 21, Shimao Real Estate also announced that it will change from “Shimao Real Estate Holdings Limited” to “Shimao Group Holdings Limited” .
Shimao Real Estate claims that the company has continued to expand its business scope in the past years. Currently, it is mainly engaged in residential property development, commercial property development (through the company’s 61.77% subsidiary Shanghai Shimao), hotel investment and operation. Based on a wide range of business areas, the Board of Directors believes that changing the company name will more effectively reflect the current status of the Group’s business, and will help enhance the Group’s corporate image and future business development.