Futu news on June 27th, Monday $LUSHANGSERVICES (02376.HK)$Announcement: The company will solicit subscriptions from June 27th to June 30th, planning to issue 33.34 million shares, including 3.334 million shares for public offering and 30.006 million shares for international offering, with an issue price of HK$5.30-7.92 per share, in units of 500 shares. It is expected to be listed on July 8th.
Lu Shang Service is a comprehensive property management service provider with a leading market position in Shandong Province, currently covering almost all prefecture-level cities in Shandong Province, as well as Peking and Harbin.
According to data from the China Index Institute, the company ranks 14th in comprehensive strength among the top 100 property service companies in China in 2022. In terms of managed construction area, the company's market share is 0.16% among the top 100 property service companies in China and 1% in the Shandong Province market.
In terms of financial situation, the company's income for the fiscal years 2019-2021 were 0.321 billion yuan, 0.403 billion yuan, and 5.83 billion yuan, with a compound annual growth rate of 34.7%. Net income for the same period were 0.029 billion yuan, 0.045 billion yuan, and 0.77 billion yuan, with a compound annual growth rate of 63.2%.
In terms of industry, as of December 31, 2021, China has over 0.2 million property management companies. The estimated managed construction area of Chinese property management companies is expected to increase from 29 billion square meters in 2022 to 35.5 billion square meters by 2026, compound...