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建業新生活
Central China New Life
Nominal: 8.580 RT Quote
Open-offer-subscription Rate: 142.5x One Lot Success Rate: 25%
COMPANY PROFILE

Central China New Life is the largest property management service provider in central China region by total GFA under management as of December 31, 2018 and total revenue for the year ended December 31, 2018, according to CIA.

As of December 31, 2019, its property management and value-added services covered all 18 prefecture-level cities (and also 81 of the 104 county-level cities) in Henan as well as one city in Hainan, namely Haikou, and it served more than one million property owners and residents in 312 properties. It manages a diversified portfolio of properties, including residential properties, shopping malls, cultural tourism complexes, commercial apartments, office buildings, schools and properties of governmental agencies. It ranked 16th, 15th and 13th among the Top 100 Property Management Companies in China in 2017, 2018 and 2019, respectively, according to CIA. The Group three main business segments, namely property management and related value added services, lifestyle services and commercial property management and consultation services.

1. Property management services and value-added services. It has provided traditional property management services such as security, cleaning and greening services since 1994 and over the years.

2. Lifestyle services include products and services it offers on its Jianye + platform, travel services, and management services. This platform provides three main online services: membership benefits; concierge services; and goods and services from One Family Community.

3. Commercial property management and consultation services focuses on enhancing the value of property by streamlining operations of a property to reduce costs and attracting business to increase income. It comprises hotel management, commercial asset management and cultural tourism complex management. As of December 31, 2019, its portfolio of commercial properties under management consisted of three cultural tourism complexes (with an aggregate site area of approximately 10.1 million sq.m.), seven shopping malls (with a total GFA of approximately 0.58 million sq.m.) and nine hotels (with a total GFA of approximately 0.25 million sq.m.).

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureProperties
Websitewww.ccnewlife.com.cn
Board Lot1,000
Registrar & Transfer OfficeComputershare Hong Kong Investor Services
GLOBAL OFFERING
No. of Offer Shares300m shares
No. of International Offer Shares270m shares
No. of HK Offer Shares30.00m shares
Offer Price$5.60 - $7.20
Nominal ValueHK$ 0.01 each
Stock Code9983
Sole SponsorBNP Paribas Securities (Asia)
Joint Global CoordinatorsBNP Paribas Securities (Asia), Morgan Stanley Asia, DBS Asia Capital
Joint BookrunnersBNP Paribas Securities (Asia), Morgan Stanley Asia, Morgan Stanley & Co. International, DBS Asia Capital, ABCI Capital, CCB International Capital, China Everbright Securities (HK), CMB International Capital, CRIC Securities, ICBC International Capital
Joint Lead ManagersBNP Paribas Securities (Asia), Morgan Stanley Asia, Morgan Stanley & Co. International, DBS Asia Capital, ABCI Capital, CCB International Capital, China Everbright Securities (HK), CMB International Capital, CRIC Securities, ICBC International Capital
TIME TABLE
Application PeriodMay 5 (Tue) - Noon, May 8 (Fri)
Price Determination DateOn or Before 5pm, May 8 (Fri)
Result Announcement DateOn or Before May 14 (Thu)
Dispatch of Shares and Refund ChequesOn or Before May 14 (Thu)
Dealings in Shares commence onMay 15, 2020. (Fri)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription15X - 50X50X - 100XOver 100X
% of total shares reallocated to HK Offer30%40%50%
DIRECTORS
ExecutiveWang Jun (Chairman), Cai Bin
Non-ExecutiveMin Huidong, Wu Lam Li
Independent Non-ExecutiveLuo Laura Ying, Leong Chong, Xin Zhu
MAJOR SHAREHOLDERS
Wu Po Sum70.62%
Hillhouse Capital9.61%
INCOME STATEMENT (RMB'000)
(Year ended Dec 31)
201920182017
Revenue1,754,402693,988460,532
Gross Profit576,284160,682105,264
Pre-Taxed Profit307,54171,86752,901
Attributable Profit for the period233,95419,47123,411
OFFER STATISTICS (HK$)
Offer Price$5.60 - $7.20
Capitalization$6,720m - $8,640m
Unaudited pro forma adj NAV / share$1.60 - $1.99
USE OF PROCEEDS
Assuming the offer price being at the mid-point of $6.40, the net proceeds raised would be HK$1,785.0m, of which:
* $1,071.0m (60.0%) to pursue strategic investment and acquisition opportunities;
* $267.8m (15.0%) on Jianye + platform and to optimize users' experience;
* $267.8m (15.0%) to improve operational efficiency;
* the balance of $178.5m (10.0%) as additional working capital.
RELATED STOCK COMPARISON
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01538ZHONG AO HOMEdown1.600-0.100-5.882%
01755S-ENJOY SERVICEdown20.950-0.050-0.238%
01778COLOUR LIFEdown3.730-0.060-1.583%
01895XINYUAN PMdown2.860-0.140-4.667%
01941YE XING GROUPunchange1.5200.0000.000%
01995EVERSUNSHINE LSdown12.360-0.240-1.905%
02168KAISA PROSPERdown32.800-1.200-3.529%
02606LANGUANGJUSTBONdown56.000-0.900-1.582%
02669CHINA OVS PPTdown8.180-0.380-4.439%
02869GREENTOWN SERdown9.130-0.170-1.828%
03319A-LIVINGdown37.700-1.450-3.704%
03662AOYUAN HEALTHYdown8.100-0.180-2.174%
03883CHINA AOYUANup10.9800.4604.373%
06049POLY PPT DEVdown75.800-3.850-4.834%
06093HEVOL SERVICESdown1.330-0.010-0.746%
06098CG SERVICESdown35.850-0.950-2.582%
09909POWERLONG CMup19.0400.4202.256%
09983CC NEW LIFEdown8.580-0.440-4.878%
Remark: The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
  Quote data is at least 15-min delayed,last updated: 03/07/2020 17:58
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