New Stock News | AusLink Services Submits IPO Application to HKEX, Mainly Engaged in Business and Urban Space Services and Community Life Services.

According to the disclosure on September 30th by the Hong Kong Stock Exchange, Olink Services Group Limited (referred to as Olink Services) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Agricultural Bank International as its sole sponsor. The prospectus shows that Olink Services is an independent commercial and urban space service provider and community life service provider, with its business mainly concentrated in Guangdong Province, China. The company is headquartered in Guangzhou and has been providing community life services to residential communities since 2010. In 2014, it expanded its services to commercial enterprises and urban spaces, diversifying its sources of income. The company's footprint has now expanded to 25 provinces in China. According to data from the China Index Institute, based on total revenue and net profit, the company ranks 11th and 8th among the top 100 independent property management service providers in China in 2025. In terms of overall strength, the company ranks 48th among the top 100 property service companies in China in 2025, with revenue of RMB 476 million and net profit of RMB 44.6 million in 2024, ranking 103rd and 75th respectively. The company's services can be divided into two categories: commercial enterprises and urban space services, and community life services. Commercial enterprises and urban space services include property and facility management services, as well as municipal management services. Community life services include basic residential property management services and community value-added services. Commercial enterprises and urban space services have always been the backbone of the company's business. In 2022, 2023, and 2024, revenue from commercial enterprises and urban space services accounted for approximately RMB 247 million, RMB 302 million, and RMB 307 million respectively, contributing 72.2%, 70.1%, and 64.6% of total revenue. In terms of gross profit margin, the gross profit margin of the company's commercial enterprises and urban space services remained relatively stable at 8.3% and 8.0% in 2022 and 2023, respectively. The gross profit margin rose to 11.7% in 2024 and increased from 10.5% in the seven-month period ending July 31, 2024, to 14.6% in the seven-month period ending July 31, 2025, mainly due to improved gross profit margin of commercial projects. The gross profit margin of community life services remained relatively stable at 30.1%, 30.1%, 30.6%, 25.5%, and 29.5%. The prospectus highlights risks such as an increase in labor costs and subcontracting costs that may have a detrimental impact on the business and reduce profitability. It also mentions that future acquisitions or investments in other companies may not achieve the expected returns, the company may not successfully complete future acquisitions, and may face difficulties in integrating acquired businesses with existing operations. In terms of finances, in 2022, 2023, 2024, and the seven-month period ending July 31, 2025, Olink Services had revenues of approximately RMB 342 million, RMB 431 million, RMB 475 million, and RMB 293 million, respectively; and net profits for the year were approximately RMB 27.41 million, RMB 34.24 million, RMB 44.63 million, and RMB 27.26 million, respectively.