New Stock News | Hebei Lianji Technology Industry Development Co., Ltd. has submitted an application to the Hong Kong Stock Exchange GEM as a provider of comprehensive property management services for industrial park.

According to the disclosure by the Hong Kong Stock Exchange on January 2nd, Hebei Lian Ji Technology Industry Development Co., Ltd. submitted its listing application to the Hong Kong GEM, with Chuangsheng Financing as the exclusive sponsor. Company overview: The prospectus shows that the company is a comprehensive property management service provider focusing on industrial parks in China. Since its establishment in 2019, the company has been deeply involved in Zhejiang Province, especially in the Jinhua-Yiwu area, the world's largest small commodity market. By strategically specializing in industrial park management, the company distinguishes itself from other competitors who mainly focus on residential properties. The company provides a range of comprehensive basic property management services aimed at maintaining the safety, functionality, and appearance of common areas in managed properties. These services cover the entire lifecycle from move-in to move-out, including maintenance and upkeep of all common areas, security management, and cleaning and gardening services. The company offers a variety of optional value-added services to meet the specific needs of property developers, owners, tenants, and tenant companies, enhancing the value of the company's managed commercial asset portfolio. These value-added services are provided through in-house staff or a network of selected service providers and include (i) operational support services; (ii) park supporting services; and (iii) energy-related services. As of September 30, 2025, the company's property portfolio includes 24 managed projects, including 23 industrial parks, with a total managed area of approximately 4.3 million square meters. This indicates steady growth in managed projects driven by the company's strategic expansion in the industrial sector. According to data from Frost & Sullivan, in 2024, the market size of the non-residential property management service market in Zhejiang Province (measured by revenue) was RMB 45.8 billion. Property management services are divided into two segments, basic property management services and value-added property management services. The market has seen growth in recent years. In 2024, the total revenue of basic property management services and value-added services in the property management service market in Zhejiang Province was RMB 80.8 billion and RMB 28.1 billion, respectively, with compound annual growth rates of 10.1% and 16.4% from 2020 to 2024. In Jinhua City, Zhejiang Province, the total managed area of industrial park property management services in 2024 was approximately 31.3 million square meters. Based on the total area of industrial park property management services in Jinhua City in 2024, the top three suppliers of property management services accounted for approximately 28.6%, with the company ranking second with a market share of around 9.3%. Financial information Revenue: For the fiscal year 2024, the year ended 2024, and the nine months ended September 30, 2025, the company achieved revenues of RMB 71.68 million, RMB 50.80 million, and RMB 56.56 million, respectively. Profit: For the fiscal year 2024, the year ended 2024, and the nine months ended September 30, 2025, the company achieved net profits of RMB 7.896 million, a loss of RMB 1.226 million, and RMB 8.522 million, respectively. Industry overview In 2024, the total revenue of basic property management services and value-added services in the property management service market in China reached RMB 407.2 billion and RMB 130 billion, respectively, with compound annual growth rates of 8.8% and 14.8% from 2020 to 2024. By 2029, the total revenue of basic property management services and value-added services in the property management service market in China is expected to reach RMB 519.7 billion and RMB 190.6 billion, with compound annual growth rates of 5.0% and 8.0% from 2024 to 2029. The total managed area of the property management service market in Zhejiang Province increased from 3.5 billion square meters in 2020 to 4 billion square meters in 2024, with a compound annual growth rate of 3.4%. Specifically, in 2024, the total managed area of residential and non-residential property management services in Zhejiang Province reached 3.5 billion square meters and 0.5 billion square meters, with compound annual growth rates of 3.1% and 5.7% from 2020 to 2024. By 2029, the total managed area of the property management service market in Zhejiang Province is expected to reach 4.6 billion square meters, with a compound annual growth rate of 2.8% from 2024 to 2029. The total managed area of residential and non-residential property management services in Zhejiang Province is expected to reach 3.9 billion square meters and 0.7 billion square meters in 2029, with compound annual growth rates of 2.2% and 7.0% from 2024 to 2029. From 2020 to 2024, the total revenue of the property management service market in Zhejiang Province increased from RMB 70.2 billion to RMB 108.9 billion, with a compound annual growth rate of 11.6%. By 2029, the total revenue of the property management service market in Zhejiang Province is expected to reach RMB 157.7 billion, with a compound annual growth rate of 7.7% from 2024 to 2029. Specifically, in 2024, the total revenue of residential and non-residential property management services in Zhejiang Province reached RMB 63.1 billion and RMB 45.8 billion, with compound annual growth rates of 10.1% and 13.8% from 2020 to 2024. By 2029, the total revenue of residential and non-residential property management services in Zhejiang Province is expected to reach RMB 88.2 billion and RMB 69.5 billion, with compound annual growth rates of 6.9% and 8.7% from 2024 to 2029. In 2024, the total revenue of basic property management services and value-added services in the property management service market in Zhejiang Province reached RMB 80.8 billion and RMB 28.1 billion, with compound annual growth rates of 10.1% and 16.4% from 2020 to 2024. By 2029, the total revenue of basic property management services and value-added services in the property management service market in Zhejiang Province is expected to reach RMB 114.1 billion and RMB 43.6 billion, with compound annual growth rates of 7.1% and 9.2% from 2024 to 2029. Board information: The company's board of directors consists of six directors, including three executive directors and three independent non-executive directors. Equity structure: Zhejiang Panglong holds 100% of the company's shares, while Ms. Liu and Mr. Zhou hold 70% and 30% of Zhejiang Panglong's shares, respectively. Intermediary team: Exclusive sponsor: Chuangsheng Financing Co., Ltd. Legal advisor of the company: Relevant Hong Kong law: Pegasus Law Partnership; Relevant Chinese law: Pegasus Law Partnership Legal advisor of the exclusive sponsor: Relevant Chinese law: Tianji Law Firm Auditors and reporting accountants: Ernst & Young LLP Industry consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd., Shanghai Branch