www.163888.com_美高梅163888_美高梅官方网站

About Us

Enter high-end business market, Ever Sunshine Lifestyle Services acquired Yayuan Property at the price of 462 million yuan

Addtime:2019-06-18From:Yong Sheng

On the evening of June 18, 2019, Ever Sunshine Lifestyle Services Group Limited (01995.HK) announced to acquire 55% shares of Qingdao Yayuan Property Management Co., Ltd. (hereinafter referred to as “Qingdao Yayuan”) at the price of 462 million yuan. After the completion of this acquisition, Qingdao Yayuan will become a non-wholly-owned subsidiary of Ever Sunshine Lifestyle Services, and the financial performance of the target group will be recorded in the comprehensive account with Yongsheng's financial statements.


Join hands in strength, the profitability of Ever Sunshine Lifestyle Services has significantly improved


As a Hong Kong listed company, the acquisition of Qingdao Yayuan will effectively enhance the profitability of Ever Sunshine Lifestyle Services. 

Qingdao Yayuan is mainly engaged in property management, public parking operation and rental services, as well as manages and operates a total of 17 projects in Shanghai, Qingdao, Shenyang, Nanjing, Suzhou, Nanchang and other cities. At present, it serves famous landmark buildings such as No. 9 Donghai Road, Hongqiao International Exhibition Center, Hongqiao Xindi Center, Shenyang Xindi Center, Nanjing Xindi Center, Jiading Xindi International Plaza and others.



No. 9 Donghai Road


Hongqiao International Exhibition Center


Hongqiao Xindi Center


Shenyang Xindi Center


Nanjing Xindi Center


Jiading Xindi International Plaza



Qingdao Yayuan was originally controlled by Xindi Group. Xindi Group focuses on the development and operation of business complexes, including office buildings, five-star hotels, refined decoration apartments, high-end shopping centers and other types of products.


Most of Qingdao Yayuan’s income comes from commercial property management projects. Since the beginning of 2019, Qingdao Yayuan has taken over three new management projects. At present, Qingdao Yayuan is managing a total area of more than 1.8 million square meters.


It is expected that the acquisition will improve the business structure of Ever Sunshine Lifestyle Services and increase the proportion of the company’s commercial property management, thus further improving the company’s operational and competitive capability to provide property management services in the commercial market.

According to the unaudited financial data of Qingdao Yayuan, as of December 31, 2018, the operating income was 199.52 million yuan, the net profit was 33.4 million yuan, and the net interest rate is 16.7%. In the first year after the acquisition, the net profit of Qingdao Yayuan is expected to reach 60 million yuan. The acquisition will significantly increase the overall profitability of Ever Sunshine Lifestyle Services.


Qingdao Yayuan, acquired by Ever Sunshine Lifestyle Services, mainly manages the commercial projects located in core cities. The resource scarcity of such commercial projects will effectively guarantee the growth certainty of subsequent income of property management company. 

In recent years, Ever Sunshine Lifestyle Services has continued to increase the proportion of non-residential property projects. This acquisition will further enhance Yongsheng's diversified layout in property management projects. As of December 31, 2018, Ever Sunshine Lifestyle Services was managing a total area of about 40.2 million square meters, and the total contracted construction area is about 65.55 million square meters, with a year-on-year growth of 96.4% in 2017.


Zhou Hongbin, Executive Director and President of Ever Sunshine Lifestyle Services, said, “At present, non-residential buildings account for more than 18% in the total management area and this proportion will increase to 30% above. It is Yongsheng’s strategic pursuit in business development. This merge and acquisition will continue to optimize the multi-format structure."


Strategic synergy to enhance the competitiveness of the first and second-tier markets


Qingdao Yayuan property project is mainly concentrated in core cities such as Shanghai, Suzhou and Qingdao, which conform to Ever Sunshine Lifestyle Services’s strategic positioning and can significantly improve the share and competitiveness of Ever Sunshine Lifestyle Services in the regional market, and give full play to the synergy effect of resource management and strategic layout.


In addition, the acquisition is also a beneficial supplement to the high-end project Yueze Commercial, launched before, as well as a beneficial supplement to professional talents. There are significant differences between business property services and ordinary residential property services, and there is a general lack of management capability with traditional property management company. Aiming at the pain points of the industry, Ever Sunshine Lifestyle Services has created a set of service system and standards, and launched Yueze Commercial Service System.


In April 2018, Ever Sunshine Lifestyle Services releases Yueze Commercial Service System as well as standard system for services classification, and launched 56 projects totally in Shanghai, Beijing and Tianjin. The landing of a total of seven Yueze Commercial benchmarking projects have been quickly completed.


President Zhou Hongbin said, “Yongsheng Service’s exploration of Yueze Commercial Service System as well as the value-added services in non-residential area will be effectively expanded and replicated to Qingdao Yayuan project, and will bring profit growth and optimization of profit structure."

In the future, Yongsheng Service will adhere to the "four engines" policy based on internal growth and take every step steadily. It will lay out the diversified strategy of science + property services with wisdom and sense of responsibility as well as the mentality of “openness, sharing, embrace and cooperation”, and be determined to become a reliable service provider for intelligent community life!

XML 地图 | Sitemap 地图